FRANKFURT (Reuters) – The chief executive of German energy producer Uniper (UN01.DE) has criticized Finnish suitor Fortum (FORTUM.HE) for a lack of clarity about its intentions in a planned 8 billion euro ($9.6 billion) takeover of the company. Fortum has agreed to buy 47 percent of Uniper from Uniper’s parent E.ON (EONGn.DE) and offered the
(Reuters) – U.S. stocks are expected to keep rising in 2018 because a massive drop in the corporate tax rate is seen boosting the economy and corporate profits, but strategists say sizable gains could either be short-lived or elusive. The bull market is on track to mark its ninth birthday in March, with the S&P
FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) will resume the payment of normal bonuses for 2017, the bank’s chief told a German newspaper, and some employees will get raises. CEO John Cryan, in an interview with the Boersen-Zeitung newspaper published on Saturday, also welcomed plans by Britain to spare European banks costly capital rules after Brexit.
FRANKFURT (Reuters) – Did you mean Birkenstock? A German court has ordered Amazon not to lure internet shoppers to its online marketplace when they mistakenly search for “Brikenstock”, “Birkenstok”, “Bierkenstock” and other variations in Google. The ruling is a victory for the German sandal maker, whose relationship with Amazon has grown increasingly antagonistic. It convinced
NEW YORK (Reuters) – There were no fireworks on Wall Street for the last trading day of the year, as U.S. stocks closed out their best year since 2013 on a down note, with losses in technology and financial stocks keeping equities in negative territory for the session. Major indexes hit a series of record
(Reuters) – Goldman Sachs Group Inc (GS.N) said on Friday it expects fourth-quarter earnings to decrease by about $5 billion, as the bank looks to take advantage of a new tax law that makes it cheaper for U.S. companies to repatriate profits. Around two-thirds of the $5 billion decrease is due to repatriation tax, the
SINGAPORE (Reuters) – U.S. oil prices hit their highest levels since mid-2015 on the final trading day of the year as an unexpected fall in American production and a fall in commercial crude inventories stoked buying. In international markets, Brent crude oil futures also rose, supported by ongoing supply cuts by top producers OPEC and
FRANKFURT (Reuters) – Volkswagen AG said on Thursday it would petition Germany’s constitutional court in an effort to overturn the appointment of a special auditor to investigate the actions of management in the “Dieselgate” emissions scandal. A lower court appointed the auditor in November, in a victory for shareholder groups that want to establish whether
WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits was unchanged last week and the underlying trend remained consistent with a tightening labor market. U.S. workers filed 245,000 initial claims for state unemployment benefits during the week that ended Dec. 23, according to seasonally adjusted figures published by the Labor Department on Thursday.
SYDNEY (Reuters) – Asian shares marched toward a decade high on Thursday, on track for their best annual performance since 2009 as investors bet on a bright outlook for the global economy with copper at a four-year peak. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS advanced 0.8 percent to stay within sight of
NEW YORK (Reuters) – U.S. stocks eked out a slight gain on Wednesday, as advances in some major technology stocks offset losses in energy and helped keep major indexes just above the unchanged mark. The S&P technology index was up 0.2 percent and managed to snap a five-session losing streak, its longest since April. The
(Reuters) – Tesla Inc (TSLA.O) is likely to deliver about 5,000 Model 3s in the fourth quarter, KeyBanc Capital Markets analysts said on Wednesday, far below the brokerage’s estimate of 15,000. The numbers indicate that the electric carmaker may still not be out of its self-described “manufacturing hell” for the production of the $35,000 Model
(Reuters) – Investors who bet on private prison operators as big winners from Donald Trump’s tough line on crime and illegal immigration are looking back at a bruising year of high hopes and disappointment. Some, however, say the stocks still offer good value even though an anticipated windfall under the Trump administration so far has
(Reuters) – The original owner of the Baha Mar Resort, BML Properties Ltd, has filed a $2.25 billion lawsuit alleging a “massive fraud” by the Chinese contractor of the luxury hotel and casino project in Nassau, the Bahamas, that opened its doors in April after years of delays. The 259-page complaint, filed in state court
LONDON (Reuters) – Oil traded above $65 a barrel on Tuesday, within sight of its highest since mid-2015, supported by an explosion on a crude pipeline in Libya and voluntary OPEC-led supply cuts. The move towards restart of a key North Sea pipeline, Forties, capped the rally. The pipeline is being tested after repairs and