Asian shares run out of steam, oil swings higher

By Chuck Mikolajczak NEW YORK (Reuters) – Global equity markets rallied on Wednesday, as oil prices jumped on optimism that top crude producers could finalize a deal to freeze production, while the Mexican peso strengthened after the country’s central bank hiked its benchmark interest rate. After a surprise agreement on Tuesday between non-OPEC Russia and […]


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Oil prices fall on oversupply concerns after U.S. crude stocks hit record

By Barani Krishnan NEW YORK (Reuters) – Oil prices fell 4 percent on Friday, with Brent down a third straight week, as record high U.S. crude stockpiles intensified worries that a plan to freeze world output will do little or nothing to reduce massive oil supplies already in the market. A slide in the U.S. […]


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Daimler sees U.S. suit over Mercedes emissions as unfounded

HAMBURG (Reuters) – An owner of a Mercedes BlueTEC diesel car filed a class-action lawsuit in the United States, accusing the carmaker of knowingly programming its Clean Diesel vehicles to emit illegally high levels of nitrogen oxide, according to law firm Hagens Berman. Shares in Mercedes maker Daimler were down 3 percent at 62.82 euros […]


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Japan Aso: G20 to discuss China, oil, U.S. monetary policy

TOKYO (Reuters) – Japanese Finance Minister Taro Aso said on Friday that finance chiefs from the Group of 20 major economies will discuss China’s excess capacity, tumbling oil prices, and U.S. monetary policy when they meet in Shanghai next week. “China’s excess capacity and its excess financial credit, declines in oil prices, and communication with […]


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Citi raises CEO Corbat’s pay by 27 percent in 2015

(Reuters) – Citigroup Inc (C.N) raised Chief Executive Michael Corbat’s pay by an estimated 27 percent in 2015, a year in which the bank’s profit more than doubled. Corbat earned an estimated $16.5 million in 2015, including deferred shares worth about $4.5 million. He earned $13 million in 2014. Deferred stock makes up about 30 […]


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U.S. oil falls after crude stocks hit record high

By Barani Krishnan NEW YORK (Reuters) – Oil prices fell 4 percent on Friday, with Brent down a third straight week, as record high U.S. crude stockpiles intensified worries that a plan to freeze world output will do little or nothing to reduce massive oil supplies already in the market. A slide in the U.S. […]


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Big banks see the need to shrink – but face a path full of obstacles

By Olivia Oran and Anjuli Davies NEW YORK/LONDON (Reuters) – When the U.S. Federal Reserve’s newest policymaker Neel Kashkari dropped a bombshell with a call to break up big banks on Tuesday, it was met with a predictably indignant response from their lobbyists. One described his comments as “blind.” But while no one in the […]


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Stocks snap 3-day win streak with Nasdaq off 1%; IBM jumps

U.S. stocks closed lower Thursday, stabilizing after their largest three-day gain since August, as investors eyed oil prices and corporate news. ( Tweet This ) “I think we’re in a trading-range market. I think there’s a need for time to indicate oil is stabilizing at current levels,” said Terry Sandven, chief equity strategist at U.S. […]


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Stocks snap 3-day win streak with Nasdaq off 1%; IBM jumps

U.S. stocks closed lower Thursday, stabilizing after their largest three-day gain since August, as investors eyed oil prices and corporate news. ( Tweet This ) “I think we’re in a trading-range market. I think there’s a need for time to indicate oil is stabilizing at current levels,” said Terry Sandven, chief equity strategist at U.S. […]


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Stocks snap 3-day win streak with Nasdaq off 1%; IBM jumps

U.S. stocks closed lower Thursday, stabilizing after their largest three-day gain since August, as investors eyed oil prices and corporate news. ( Tweet This ) “I think we’re in a trading-range market. I think there’s a need for time to indicate oil is stabilizing at current levels,” said Terry Sandven, chief equity strategist at U.S. […]


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