U.S. refiners bet on strong exports to balance market U.S. refiners have come out of maintenance season betting that big exports to Mexico and South America will help alleviate high product inventories and boost margins as the critical summer driving season nears. The first wave of earnings results from several […]
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Boeing seeks U.S. anti-dumping probe against Bombardier jet Boeing Co on Thursday asked the U.S. Commerce Department to investigate alleged subsidies and unfair pricing for Canadian planemaker Bombardier's new CSeries airplane, adding to growing trade tensions between the United States and Canada. The petition against Canada's new competitor to the […]
Companies cheer Trump tax cuts, but jobs are less certain to follow U.S. businesses would reap a windfall if President Donald Trump's plan to cut corporate tax rates and slash taxes on cash parked overseas becomes law, but it was unclear whether they would stimulate a surge in investment and […]
Judge says Exxon owes $19.95 million for Texas refinery pollution A federal judge ruled on Wednesday that ExxonMobil Corp should pay a $19.95 million penalty for pollution from its Baytown, Texas, refining and chemical plant complex between 2005 and 2013. U.S. District Court Judge David Hittner issued the ruling in […]
Trump tax cut caution, ECB meeting cools risk rally A record-setting rally in world stocks ran out of steam on Thursday, with unconvincing U.S. tax cut plans cooling investors' spirits and caution setting in as the European Central Bank met. Europe's main bourses were as much as 0.7 percent lower […]
Wells Fargo board gets black eye in shareholder vote Wells Fargo & Co (WFC.N) shareholders showed displeasure with the scandal-hit bank's board on Tuesday, offering scant support for a dozen directors, including Chairman Stephen Sanger, in a vote capping a contentious annual meeting. Only three directors received more than 90 […]
Toshiba plans to replace auditor PwC after earnings impasse Toshiba Corp, the troubled Japanese conglomerate, wants to replace auditor PricewaterhouseCoopers Aarata (PwC) to resolve an impasse over full-year earnings and remain listed, two sources briefed on the matter said. PricewaterhouseCoopers was hired in June last year as part of major […]
China banks miss out on U.S. investment banking bonanza As scores of investment bankers profit from the fee bonanza offered by Chinese companies hunting for deals in the United States, one group is conspicuously absent – Chinese banks. Despite their deep ties with Chinese firms, the country's largest state-owned banks […]
AT&T revenue misses estimates as customers keep phones longer AT&T Inc's (T.N) quarterly revenue missed estimates due to lower equipment sales as customers held onto phones longer and rival wireless carriers offered new promotions on unlimited data plans, the No. 2 U.S. wireless carrier said on Tuesday. It said it […]
Asian stocks hover near two-year highs on U.S. optimism, euro steady Asian stocks extended gains for a fifth consecutive day on Wednesday, as renewed optimism about the world's biggest economy brightened the outlook for risk assets while the euro held on to previous gains as political concerns in France ebbed. […]
