Business News

LONDON (Reuters) – Oil prices fell on Monday as U.S. production hit a record high and as OPEC members considered boosting supply.

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HONG KONG (Reuters/IFR) – Chinese smartphone and connected device maker Xiaomi plans to raise up to 30 percent of its blockbuster $10 billion IPO by selling shares in mainland China while offering the remainder in Hong Kong, said people with knowledge of the matter.

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MOSCOW (Reuters) – Russia’s technical safety watchdog Rosstandart said on Monday it had approved a plan of action with regards to a voluntary recall of 1,426 Mercedes-Benz Sprinter Classic cars sold in October-December of 2017.

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SEOUL (Reuters) – Hyundai Motor on Monday conducted due diligence on a contract car manufacturing plant site for possible investment, as the South Korean firm seeks ways to cut costs and conserve capital to develop new technologies such as electric vehicles.

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LONDON (Reuters) – Global shares rose on Monday as worries over a trade war between the United States and other major economies took a back seat, with investors focusing on an easing of political risks in Europe and strong U.S. jobs data.

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TOKYO (Reuters) – Bain Capital, which led the $18 billion acquisition of Toshiba Memory Corp, said on Monday it plans to support the business in pursuing M&A in the chip industry, including potentially large deals.

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BEIJING (Reuters) – China’s door to talks is open in principle, the country’s Foreign Ministry said on Monday, a day after Beijing warned that any trade and business deals reached with Washington would be void if the United States implemented tariffs.

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JOHANNESBURG (Reuters) – Global auditor KPMG said on Monday it will layoff 400 people as it closes offices in South Africa following a corruption scandal that resulted in the firm losing several major clients.

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FRANKFURT (Reuters) – The chief executive of Metro is hopeful that the German retailer will turn around its struggling Russian business soon, he said on Monday.

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LONDON (Reuters) – Oil prices steadied on Monday as U.S. production hit a record-high and OPEC members considered boosting supply to balance rising global demand.

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FRANKFURT (Reuters) – Germany’s Bayer will wrap up the $63 billion takeover of Monsanto on Thursday and also retire the U.S. seeds maker’s 117 year-old name.

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MOSCOW (Reuters) – Russian gas company Gazprom said on Monday it would loan up to 2.14 billion euros ($2.5 billion) to its subsidiary South Stream Transport B.V. which is overseeing the construction of the TurkStream undersea gas pipeline to Turkey from Russia.

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SINGAPORE (Reuters) – Brent crude oil futures slid for a second session on Monday as the market was weighed down by a climb in U.S. output to a record-high and expectations that OPEC members will raise supplies.

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FRANKFURT (Reuters) – Germany’s Bayer will wrap up the $62.5 billion takeover of Monsanto on Thursday this week and also retire the name of the U.S. seeds maker, it said on Monday.

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SINGAPORE (Reuters) – Crude oil futures lost more ground on Monday as the market was weighed down by U.S. output climbing to a record-high and expectations that OPEC members will raise supplies.

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