Business News
Oil prices jump as Gulf of Mexico rigs evacuated
Oil prices rose sharply on Tuesday after the evacuation of two Gulf of Mexico oil platforms in preparation for a hurricane.
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Business News
Reuters poll: No-deal Brexit odds hold at one in four, economists say
The chances Britain will leave the European Union in March without a deal are one in four, a Reuters poll found, and the Bank of England is likely to wait until after Brexit before raising borrowing costs again.
Business News
Deutsche Bank to exit Eurostoxx 50 in blow to lender: documents
Deutsche Bank will be booted from the Eurostoxx 50 index of leading European stocks, documents seen by Reuters on Tuesday showed, the latest blow to Germany’s largest lender.
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JPMorgan Will Pay $24 Million to End Lawsuit From Black Advisers
As racial diversity tumbles on Wall Street, JPMorgan Chase & Co. has reached a settlement with financial advisers who say they were treated poorly because they’re black. Six current and former employees at the largest U.S. bank filed what they asked to be a class action, alleging discrimination that’s “uniform and national in scope.” Instead of fighting it in court, the bank agreed to pay $19.5 million to the members of the class, according to Aug. 31 filings. It will also put $4.5 million into a fund that will back recruitment, bias training, a review of branch assignments …read more […]
Business News
Finnair hires Nordea banking executive as new boss
Finland’s national airline Finnair has turned to the financial world for its new chief executive, appointing Nordea Bank’s Topi Manner to take the role from January.
Business News
Deutsche Bank sticks to profit goal amid expectations of exiting Eurostoxx 50
Deutsche Bank said on Tuesday that it was committed to improving the bank’s profitability amid expectations that its shares would fall out of the Eurostoxx 50 index.
Business News
SocGen expects around $1.27 billion in U.S. sanctions penalties
(In this version of Sept. 3 story, Societe Generale corrects statement to show estimated penalties 1.1 billion (not 1.2 billion) euros)
Business News
Oil prices rise as Gulf of Mexico rigs evacuated
Oil prices rose on Tuesday, with U.S. crude breaking through $70 a barrel, after the evacuation of two Gulf of Mexico oil platforms in preparation for a hurricane.
Business News
Lego dinosaurs and sports car help toymaker build recovery
Sales of Lego dinosaurs and a Bugatti sports car helped the Danish toymaker stabilize revenue in the first half of this year after a drop in 2017 for the first time in more than a decade.
Business News
U.S. crude prices rise as Gulf oil rigs evacuated; Brent dips
U.S. oil prices rose on Tuesday, breaking past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane.
Business News
Finnair picks Nordea executive as new CEO
Finland’s national carrier Finnair appointed on Tuesday Nordea Bank executive Topi Manner as its new chief executive officer starting from January, following a departure of CEO Pekka Vauramo.
Business News
Alcoa braces for alumina strike vote in Western Australia
A vote by striking workers at Alcoa’s giant west Australian operations will close on Thursday, with the union anticipating a strong “no” vote that could prolong the four-week old strike.
Business News
Asian shares rise on China turnaround, trade fears persist
Asian shares rose on Tuesday, with markets reversing earlier losses, but investors were apprehensive as the Sino-U.S. trade dispute threatened to escalate this week and Argentina’s austerity measures rattled emerging markets.
Business News
Ryanair passenger numbers up 9 percent in strike-hit August
Europe’s largest low-cost airline Ryanair flew 9 percent more passengers in August than a year ago, it said on Tuesday, its purchase of Austrian carrier Laudamotion helping offset the impact of strikes and staff shortages.
Business News
Automakers fret as China clamps down on capacity, seeks consolidation
Some automakers in China are alarmed by proposed government restrictions on investing in new manufacturing capacity and the ways in which Beijing is trying to trigger consolidation of the country’s flabby auto industry through mergers and strategic cooperation.