Business & Finance News
President Nicolas Maduro is funneling cashflow from Venezuelan oil sales through Russian state energy giant Rosneft as he seeks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters.
Demand for electric vehicles remains low in the U.S. market, but industry executives at the New York auto show this week said they are pushing ahead with billions of dollars in investments even while preaching patience.
Industrials led Wall Street higher on Thursday in the wake of upbeat economic data and a string of healthy corporate earnings.
The U.S. International Trade Commission estimated the proposed new North American free trade deal would modestly boost the U.S. economy but could reduce U.S. vehicle production.
American Media Inc (AMI) is selling its tabloid the National Enquirer for $100 million to James Cohen, chief executive of Hudson News , the Washington Post reported on Thursday, citing people familiar with the agreement.
Valoptec International which represents employees and former employees of Ray Ban maker EssilorLuxottica has proposed the appointment of an additional independent director to the group’s board in a bid to resolve governance issues.
An attempt by French sugar group Tereos to spread risk on a 250 million euro ($281 million) loan secured earlier this year has failed to attract bidders, leaving three main creditor banks with exposure, sources familiar with the matter said.
The Trump administration on Thursday estimated that its new North American trade deal will create 76,000 automotive sector jobs within five years as automakers invest some $34 billion in new plants to comply with the pact’s new regional content rules.
Sears Holdings Corp sued longtime former chairman Eddie Lampert, his hedge fund ESL Investments and others like Treasury Secretary Steven Mnuchin, claiming they illegally siphoned billions of dollars of assets from the retailer before it went bankrupt.
Oil futures held steady on Thursday as a drop in crude exports from OPEC’s de facto leader, Saudi Arabia, and a draw in U.S. oil inventories supported prices, while a strengthening dollar kept futures in check.
Shares of Pinterest Inc surged 25 percent in their debut on Thursday, giving the online scrapbook company a market capitalization of $15.8 billion and signalling increased investor appetite for new tech listings.
Germany’s economy ministry wants to extend subsidies for new electric cars until the end of 2020 in an effort to increase sales, draft guidelines seen by Reuters on Thursday showed.
U.S. retail sales increased by the most in 1-1/2 years in March as households boosted purchases of motor vehicles and a range of other goods, the latest indication that economic growth picked up in the first quarter after a false start.
U.S. stocks eked out gains in volatile trading on Thursday, ahead of a long Easter weekend, as strong results from industrials countered another drop in healthcare stocks, with investors shrugging off release of the Mueller report.
The new director of the Consumer Financial Protection Bureau will continue with reviews, begun by her predecessor, of its public complaints database and how the agency enforces discriminatory lending laws, she told Reuters.
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