World + Economy

The logo of of Rocket Internet, a German venture capital group is pictured in illustration photo in Sarajevo

Kinnevik representatives to leave Rocket Internet board

Reuters - By Emma Thomasson BERLIN (Reuters) - Rocket Internet said on Monday two supervisory board members from long-standing investor Kinnevik would step down at its annual shareholder meeting on June 9. T…

People are reflected in a stock quotation board outside a brokerage in Tokyo

Tokyo slide keeps mood downbeat

Reuters - By Patrick Graham LONDON (Reuters) - A 3-percent drop in Japanese shares and weakness in…

File photo of a worker walking past a pump jack on an oil field owned by Bashneft, Bashkortostan

Oil prices slip from 2016 highs on OPEC output boost

Reuters - By Libby George LONDON (Reuters) - Oil prices edged back from 2016 highs on Monday as ris…

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  • The logo of of Rocket Internet, a German venture capital group is pictured in illustration photo in Sarajevo
    Kinnevik representatives to leave Rocket Internet board Reuters

    By Emma Thomasson BERLIN (Reuters) - Rocket Internet said on Monday two supervisory board members from long-standing investor Kinnevik would step down at its annual shareholder meeting on June 9. The …

    The logo of of Rocket Internet, a German venture capital group is pictured in illustration photo in Sarajevo

    By Emma Thomasson BERLIN (Reuters) - Rocket Internet said on Monday two supervisory board members from long-standing investor Kinnevik would step down at its annual shareholder meeting on June 9. The move follows differences between the two companies over the valuation of joint investments, with Kinnevik putting a lower …

  • Tokyo slide keeps mood downbeat Reuters

    By Patrick Graham LONDON (Reuters) - A 3-percent drop in Japanese shares and weakness in the banking sector kept financial markets on edge on Monday, although stock markets in both Europe and the United …

    People are reflected in a stock quotation board outside a brokerage in Tokyo

    By Patrick Graham LONDON (Reuters) - A 3-percent drop in Japanese shares and weakness in the banking sector kept financial markets on edge on Monday, although stock markets in both Europe and the United States were on track for some minimal gains. With trading thinned by holidays in London and a number of Asian countries, …

  • Oil prices slip from 2016 highs on OPEC output boost Reuters

    By Libby George LONDON (Reuters) - Oil prices edged back from 2016 highs on Monday as rising production in the Middle East outweighed a decline in U.S. output and a sliding dollar. Crude production by …

    File photo of a worker walking past a pump jack on an oil field owned by Bashneft, Bashkortostan

    By Libby George LONDON (Reuters) - Oil prices edged back from 2016 highs on Monday as rising production in the Middle East outweighed a decline in U.S. output and a sliding dollar. Crude production by the Organization of the Petroleum Exporting Countries rose in April to 32.64 million barrels per day (bpd), close to the …

  • Australian tells BBC he created bitcoin, but some skeptical Reuters

    By Byron Kaye and Jeremy Wagstaff SYDNEY/SINGAPORE (Reuters) - Australian tech entrepreneur Craig Wright told the BBC that he was the creator of controversial digital currency bitcoin, but some scepticism …

    Dr Craig Wright, the man claiming to be the inventor of Bitcoin (handout picture/PA)

    By Byron Kaye and Jeremy Wagstaff SYDNEY/SINGAPORE (Reuters) - Australian tech entrepreneur Craig Wright told the BBC that he was the creator of controversial digital currency bitcoin, but some scepticism remained about the identity of a person who until now has gone by the name of Satoshi Nakamoto. The BBC reported on …

  • Goldman targets 'mass affluent' borrowers with unusual lending plan Reuters

    By Olivia Oran NEW YORK (Reuters) - Goldman Sachs Group Inc, the banking gold standard for the world's elite, sees a future in less prosperous investors. A creative strategy taking shape inside the bank …

    A screen displays the ticker symbol and information for Goldman Sachs on the floor of the New York Stock Exchange

    By Olivia Oran NEW YORK (Reuters) - Goldman Sachs Group Inc, the banking gold standard for the world's elite, sees a future in less prosperous investors. A creative strategy taking shape inside the bank calls for it to partner with small brokerages and wealth management firms to lend money to their clients, many of whom …

  • Capital Group leaders look to rein in inflated CEO pay Reuters

    By Ross Kerber BOSTON (Reuters) - The usually close-mouthed Capital Group is speaking up on executive pay - throwing more brickbats than bouquets. "There has been this continued escalation where everybody …

    Alan Berro, Capital Group portfolio manager, is seen in an undated handout picture provided by Capital Group

    By Ross Kerber BOSTON (Reuters) - The usually close-mouthed Capital Group is speaking up on executive pay - throwing more brickbats than bouquets. "There has been this continued escalation where everybody wants to be in the upper quartile," Alan Berro, senior portfolio manager at Capital Group, told Reuters. Berro's …

  • Warren Buffett says doesn't try to profit from central bank moves: CNBC Reuters

    NEW YORK (Reuters) - Warren Buffett, the chairman and chief executive of conglomerate Berkshire Hathaway , said Monday Berkshire did not try to profit from global central bank monetary policy and that …

    Warren Buffett speaks at Fortune's Most Powerful Women Summit in Washington

    NEW YORK (Reuters) - Warren Buffett, the chairman and chief executive of conglomerate Berkshire Hathaway , said Monday Berkshire did not try to profit from global central bank monetary policy and that low oil prices were beneficial to the United States. "It’s a fascinating movie to watch," Buffett told cable television …

  • U.S. shale firm's bankruptcy exit shows new chapter just as tough Reuters

    Magnum Hunter Resources Corp and its founder Gary Evans are emblematic for the U.S. shale revolution: it started small, borrowed heavily to snap up land and rivals and then crumbled under the weight of …

    Chairman and Chief Executive Officer of Magnum Hunter Resources Corporation, Gary C. Evans, poses for a portrait at the company's new headquarters in Irving

    Magnum Hunter Resources Corp and its founder Gary Evans are emblematic for the U.S. shale revolution: it started small, borrowed heavily to snap up land and rivals and then crumbled under the weight of debt when prices crashed. Now, the oil and gas company is among the first casualties of the energy slump to exit bankruptcy …

  • ICE may have more time to consider bid for London bourse Reuters

    By Sophie Sassard and Huw Jones LONDON (Reuters) - London Stock Exchange Group and Deutsche Boerse may have to delay a vote on their proposed merger until after Britain's EU referendum, handing more time …

    A screen displays the ticker symbol and trading information for Intercontinental Exchange Inc. (ICE) at the post where it is traded on the floor of the NYSE

    By Sophie Sassard and Huw Jones LONDON (Reuters) - London Stock Exchange Group and Deutsche Boerse may have to delay a vote on their proposed merger until after Britain's EU referendum, handing more time to Intercontinental Exchange to decide whether to make a counter-bid for the British bourse. LSEG had been expected …

  • As oil plows through $45 a barrel, U.S. producers rush to lock in prices Reuters

    The flurry of dealing kicked off when prices pierced $45 per barrel earlier in April. While it was not clear if oil prices will remain at current levels, it may also be a sign producers are preparing …

    A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma

    The flurry of dealing kicked off when prices pierced $45 per barrel earlier in April. While it was not clear if oil prices will remain at current levels, it may also be a sign producers are preparing to add rigs and ramp up output. This week, Pioneer Natural Resources Co , a major producer in the Permian shale basin of …

  • Halliburton and Baker Hughes scrap $28 billion merger Reuters

    Oilfield services provider Halliburton Co and smaller rival Baker Hughes Inc announced the termination of their $28 billion merger deal on Sunday after opposition from U.S. and European antitrust regulators. …

    The Baker Hughes campus sits mostly empty in Williston

    Oilfield services provider Halliburton Co and smaller rival Baker Hughes Inc announced the termination of their $28 billion merger deal on Sunday after opposition from U.S. and European antitrust regulators. It is the latest example of a large merger deal failing to make it to the finish line because of antitrust hurdles. …

  • Fed may need more powers to support securities firms during crises: Dudley Reuters

    By Lindsay Dunsmuir AMELIA ISLAND, Fla (Reuters) - The U.S. Federal Reserve may need more powers to provide emergency funding to securities firms in times of extreme stress in order to deal with a liquidity …

    New York Fed President William Dudley takes part in a panel convened to speak about the health of the U.S. economy in New York

    By Lindsay Dunsmuir AMELIA ISLAND, Fla (Reuters) - The U.S. Federal Reserve may need more powers to provide emergency funding to securities firms in times of extreme stress in order to deal with a liquidity crunch, New York Federal Reserve President William Dudley said on Sunday. "Providing these firms with access to …

  • Halliburton, Baker Hughes set to end $28 billion deal: source Reuters

    Halliburton Co and Baker Hughes Inc are expected to announce the termination of their merger agreement on Monday following opposition from U.S. and European antitrust regulators, a person familiar with …

    The Baker Hughes campus sits mostly empty in Williston

    Halliburton Co and Baker Hughes Inc are expected to announce the termination of their merger agreement on Monday following opposition from U.S. and European antitrust regulators, a person familiar with the matter said. The contract governing Halliburton's cash-and-stock acquisition of Baker Hughes, which was valued at …

  • FCA sees issues in Deutsche Bank controls over financial crimes, FT reports Reuters

    Deutsche Bank has "serious" and "systemic" failings in its controls against money laundering, terrorist financing and sanctions, according to a confidential letter by the UK's financial regulatory agency, …

    A statue is seen next to the logo of Germany's Deutsche Bank in Frankfurt

    Deutsche Bank has "serious" and "systemic" failings in its controls against money laundering, terrorist financing and sanctions, according to a confidential letter by the UK's financial regulatory agency, the Financial Times reported. The watchdog agency, the Financial Conduct Authority (FCA), has now ordered a separate …

  • German finmin criticizes Volkswagen management over bonuses: paper Reuters

    Germany's finance minister Wolfgang Schaeuble has criticized the executive board of scandal-ridden carmaker Volkswagen for not waiving bonuses despite bringing the company to the brink of collapse. "I …

    German Finance Minister Wolfgang Schaeuble speaks during a news conference at the 2016 World Bank-IMF Spring Meeting in Washington

    Germany's finance minister Wolfgang Schaeuble has criticized the executive board of scandal-ridden carmaker Volkswagen for not waiving bonuses despite bringing the company to the brink of collapse. "I have no sympathy for managers who first drive a large blue chip-listed company into an existence-threatening crisis and …

  • Air France-KLM to name Jean-Marc Janaillac as new CEO: source Reuters

    Air France-KLM's board is to appoint Jean-Marc Janaillac as the Franco-Dutch airline group's next chief executive on Tuesday to replace Alexandre de Juniac, a source close to the matter said on Saturday. …

    An Air France pilot looks on as he taxis his Boeing 777 aircraft after landing at the Charles de Gaulle International Airport in Roissy, near Paris

    Air France-KLM's board is to appoint Jean-Marc Janaillac as the Franco-Dutch airline group's next chief executive on Tuesday to replace Alexandre de Juniac, a source close to the matter said on Saturday. Frederic Gagey would remain as head of Air France, the source said. Sixty-three year old Janaillac, CEO of multi-modal …

  • Daimler hires Deloitte for internal emissions probe Reuters

    Daimler has hired auditor Deloitte Touche Tohmatsu to help with an internal investigation into its diesel-engine emissions technology requested by the U.S. Department of Justice, the luxury car maker …

    Car bonnet emblems for Mercedes-Benz S-class models are pictured at a plant in Sindelfingen

    Daimler has hired auditor Deloitte Touche Tohmatsu to help with an internal investigation into its diesel-engine emissions technology requested by the U.S. Department of Justice, the luxury car maker said. The investigation is to see if Daimler used devices to manipulate emissions tests and comes after another German …

  • Facebook hit with lawsuit over plan to issue new stock Reuters

    By Dan Levine SAN FRANCISCO (Reuters) - A Facebook Inc shareholder filed a proposed class action lawsuit on Friday in a bid to stop the company's plan to issue new Class C stock, calling the move an …

    Facebook CEO Mark Zuckerberg holds a pair of the touch controllers for the Oculus Rift virtual reality headsets during the Facebook F8 conference in San Francisco, California

    By Dan Levine SAN FRANCISCO (Reuters) - A Facebook Inc shareholder filed a proposed class action lawsuit on Friday in a bid to stop the company's plan to issue new Class C stock, calling the move an unfair deal to entrench Chief Executive Mark Zuckerberg as controlling shareholder. The lawsuit, filed in the Delaware …

  • U.S., European trade negotiators battle political headwinds Reuters

    By David Lawder NEW YORK (Reuters) - Facing deeply entrenched differences and political headwinds, the top negotiators trying to reach a sweeping U.S.-European free trade deal avoided agriculture, public …

    A Mini car is seen with a Union flag and European Union flag design on its bonnet in London

    By David Lawder NEW YORK (Reuters) - Facing deeply entrenched differences and political headwinds, the top negotiators trying to reach a sweeping U.S.-European free trade deal avoided agriculture, public procurement and other thorny issues in talks this week. Instead, Assistant U.S. Trade Representative Daniel Mullaney …

  • Bombardier family has no plans to relinquish majority control: chairman Reuters

    By Allison Lampert MIRABEL, Quebec (Reuters) - Bombardier Inc's dual-class share structure is vital to protect the long-term interests of the Quebec-based aerospace and transportation company, and the …

    File photo of a Bombardier C Series aircraft at the Singapore Airshow at Changi Exhibition Center

    By Allison Lampert MIRABEL, Quebec (Reuters) - Bombardier Inc's dual-class share structure is vital to protect the long-term interests of the Quebec-based aerospace and transportation company, and the Bombardier-Beaudoin family has no plans to relinquish its majority control, Executive Chairman Pierre Beaudoin said on …