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Updated: 1 hour 14 min ago

Exclusive: Exxon, Chevron seek to exit Azerbaijan's oil after 25 years

Tue, 12/04/2018 - 16:11
Exxon Mobil and Chevron are seeking to sell their stakes in Azerbaijan's largest oilfield, marking the retreat of the U.S. majors from the former Soviet state after 25 years as they re-focus on domestic production.
Categories: Financial Media

Mercedes Benz to hire 600 contractors in Brazil as economy recovers

Tue, 12/04/2018 - 15:39
Mercedes Benz's Brazil operation will hire some 600 contractors in 2019 on year-long contracts to work on commercial vehicles, adding to a workforce of 10,000, the company said on Tuesday.
Categories: Financial Media

Wall Street drops on trade truce doubts, bond market jitters

Tue, 12/04/2018 - 15:33
U.S. stocks dropped on Tuesday, as skepticism over chances of a breakthrough in the U.S.-China trade talks weighed on industrial and technology companies, while banks fell as flattening U.S. bond yield curves raised fears of a slowing domestic economy.
Categories: Financial Media

Cut in China tariffs on cars a 'litmus test' for trade talks: Kudlow

Tue, 12/04/2018 - 15:31
White House economic adviser Larry Kudlow said on Tuesday that a reduction in Chinese tariffs on U.S. cars and agricultural and energy commodities would be a "litmus test" for whether U.S.-China trade talks are on track to succeed.
Categories: Financial Media

Toll Brothers orders slump for first time in more than four years

Tue, 12/04/2018 - 15:25
U.S. luxury home builder Toll Brothers Inc on Tuesday reported its first fall in quarterly orders in more than four years as rising mortgage rates and higher home prices hit demand, sending its shares down as much as 10 percent.
Categories: Financial Media

Siemens looks for faster growth in 'smart' buildings, eyes acquisitions

Tue, 12/04/2018 - 15:00
Siemens wants to grow its building technologies business faster than the overall construction market next year, possibly with help from acquisitions, the business' chief executive Matthias Rebellius said on Tuesday.
Categories: Financial Media

New UPS navigation tool aims to save time and money with each turn

Tue, 12/04/2018 - 14:57
United Parcel Service Inc on Tuesday said it is rolling out a new navigation tool designed to reduce costs for the company and headaches for its roughly 60,000 U.S. package delivery drivers.
Categories: Financial Media

U.S. Commerce chief says timing of auto tariffs depends on talks

Tue, 12/04/2018 - 14:35
U.S. Commerce Secretary Wilbur Ross said on Tuesday that possible tariffs on automakers are aimed at pushing companies to make more cars and other vehicles in the United States and the timing of any duties would depend on the success of ongoing negotiations.
Categories: Financial Media

Wall Street to open lower on trade deal doubt, bond market nerves

Tue, 12/04/2018 - 14:04
U.S. stock index futures pointed to a lower opening for Wall Street on Tuesday, as investors turned skeptical of the chances of a breakthrough in the U.S.-China trade talks, while a flattening U.S. yield curve raised fears of a slowing domestic economy.
Categories: Financial Media

World stocks retreat as trade truce doubts return

Tue, 12/04/2018 - 13:58
Deflating hopes of a swift resolution to the Sino-U.S. trade war knocked world stocks off a three-week high on Tuesday, while recession warning lights in U.S. bond markets weighed on the dollar.
Categories: Financial Media

Thomson Reuters to cut workforce by 3,200 or 12 percent by 2020

Tue, 12/04/2018 - 13:56
Thomson Reuters Corp said on Tuesday that it will cut its workforce by 12 percent by 2020, axing 3,200 jobs, as part of a plan to streamline the business and improve operating efficiencies.
Categories: Financial Media

Nissan delays decision on Ghosn successor

Tue, 12/04/2018 - 13:52
Nissan Motor Co failed on Tuesday to nominate a successor to Carlos Ghosn as chairman in the wake of his arrest and dismissal for alleged financial misconduct last month, a source familiar with the situation said.
Categories: Financial Media

Airbus, Lockheed join forces to pursue U.S. military refueling orders

Tue, 12/04/2018 - 13:44
Europe's Airbus is teaming up with a new U.S. partner, Lockheed Martin , to try to crack the U.S. military air tanker market nearly eight years after losing out to rival Boeing in a bitter battle to supply refueling planes to the U.S. Air Force.
Categories: Financial Media

As Trump touts trade war truce, China holds its tongue

Tue, 12/04/2018 - 13:34
As White House officials fanned out to talk up what U.S. President Donald Trump called "an incredible deal" with China to hit pause in their trade war, Beijing has said little on a pact that cheered markets but left many questions unanswered.
Categories: Financial Media

Thomas Cook debt-holders scramble for protection against default

Tue, 12/04/2018 - 13:22
The cost of insuring debt issued by Thomas Cook against default hit a record high and its bonds tumbled on Tuesday, as worries about the travel company's borrowings deepened following its second profit warning in as many months last week.
Categories: Financial Media

Fidelity, Nasdaq Ventures invest in cryptocurrency exchange ErisX

Tue, 12/04/2018 - 13:13
New cryptocurrency exchange ErisX said Tuesday it raised a total of $27.5 million from investors including Fidelity Investments and Nasdaq Ventures.
Categories: Financial Media

Keysberg becomes CEO of Thyssenkrupp's materials trading unit

Tue, 12/04/2018 - 13:09
Klaus Keysberg, finance chief of Thyssenkrupp's materials trading unit, will become the division's boss from next year, the company said on Tuesday.
Categories: Financial Media

Daimler raises prospect of boosting stake in Chinese partner: Bloomberg

Tue, 12/04/2018 - 13:07
Germany's Daimler AG has raised the prospect of increasing its stake in a joint venture with Chinese partner BAIC Motor Corp , Bloomberg reported on Tuesday, citing people familiar with the matter.
Categories: Financial Media

Unilever's incoming CEO sticks with 2020 margin target

Tue, 12/04/2018 - 12:59
Unilever's incoming chief executive Alan Jope plans to stick to the 2020 targets set by his predecessor Paul Polman, Jope said on Tuesday, confirming a message of continuity set last week by the company chairman.
Categories: Financial Media

Oil jumps 2 percent on expected OPEC production cuts

Tue, 12/04/2018 - 12:54
Oil prices rose more than 2 percent on Tuesday, extending gains ahead of expected output cuts by producer cartel OPEC and a reduction in Canadian supply.
Categories: Financial Media