BMW sees slower growth in China this year; local JV talks ongoing German luxury carmaker BMW (BMWG.DE) expects the pace of growth of its China sales to almost halve this year, the firm’s chief executive said on Wednesday, amid a broader slowdown in the world’s largest auto market. The firm […]
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Credit Suisse delivers best quarter since Thiam’s revamp Credit Suisse delivered its best quarterly results on Wednesday since Chief Executive Tidjane Thiam launched his restructuring plan for Switzerland’s second-biggest bank in 2016, driven by its wealth management business. After 6.6 billion Swiss francs ($6.7 billion) of losses in 2015 and […]
U.S. extends deadline for Rusal sanctions, aluminum prices dive Aluminum prices on the London Metal Exchange tumbled 8.7 percent on the U.S. Treasury Department announcement, which gives Rusal longer to sell off large quantities of aluminum it had been stockpiling in the wake of sanctions. Last week, aluminum prices rallied […]
Trump’s revenge: U.S. oil floods Europe, hurting OPEC and Russia As OPEC’s efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits – and flooding Europe with a record amount of crude. Russia paired with the Organization of the Petroleum Exporting Countries last year in cutting […]
Google helps stock markets recover, oil stretches above $75 World stocks steadied on Tuesday after three sessions of losses thanks to strong earnings from the likes of Google and as a rise in U.S. bond yields towards the key 3 percent level stalled, while oil prices stretched to fresh highs […]
Oil tops $75, highest since 2014 OPEC meeting that led to pump war Oil rose on Tuesday above $75 a barrel to its highest since November 2014, supported by OPEC-led production cuts, strong demand and the prospect of renewed U.S. sanctions on Iran. Brent crude, the global benchmark, hit its […]
People will revolt’: workers say Russia must save sanctions-hit Rusal Workers at one of Russia’s biggest aluminum smelters say their Siberian town is doomed unless Moscow mitigates U.S. sanctions against aluminum giant Rusal, a predicament mirrored across the company’s sprawling operations. Trapped by mortgages for apartments built on barren steppe […]
U.S. fund managers brace for trade war with focus on pricing power Investors’ fears of an all-out trade war between the United States and China is prompting U.S. stock fund managers to hunt for companies that can easily pass on higher costs to their consumers. So far, domestic small-to-mid-cap companies […]
German region ready to help Opel, but won’t be blackmailed: premier The German state of Thuringia is ready to offer assistance to carmaker Opel in order to keep the region’s Eisenach plant open, state premier Bodo Ramelow told Reuters on Monday. The state could help with energy costs and property, […]
Libya examines Total-Marathon purchase, casting doubt on deal: sources Libya is considering whether to intervene in a $450 million deal that French major Total (TOTF.PA) announced last month to buy a Marathon Oil (MRO.N) stake in the country’s Waha concessions, several sources familiar with the matter told Reuters. Officials were […]
