World + Economy

Gas flame is seen in the desert near the Khurais oilfield

Shift in Saudi oil thinking deepens OPEC split

Reuters - By Dmitry Zhdannikov and Rania El Gamal LONDON/DUBAI (Reuters) - As OPEC officials gathered this week to formulate a long-term strategy, few in the room expected the discussions would end without a …

A view of the Merck & Co. campus in Linden, New Jersey

Merck sales disappoint as Januvia, Remicade fall short

Reuters - Merck & Co Inc on Thursday reported lower-than-expected quarterly revenue, hurt by disap…

A sign is seen in front of the Exxonmobil Baton Rouge Refinery in Baton Rouge, Louisiana.

Exxon, fighting climate change charges, plans fuel cell venture

Reuters - By Ernest Scheyder HOUSTON (Reuters) - Exxon Mobil Corp, which has been fighting accusat…

Latest News

  • Gas flame is seen in the desert near the Khurais oilfield
    Shift in Saudi oil thinking deepens OPEC split Reuters

    By Dmitry Zhdannikov and Rania El Gamal LONDON/DUBAI (Reuters) - As OPEC officials gathered this week to formulate a long-term strategy, few in the room expected the discussions would end without a clash. …

    Gas flame is seen in the desert near the Khurais oilfield

    By Dmitry Zhdannikov and Rania El Gamal LONDON/DUBAI (Reuters) - As OPEC officials gathered this week to formulate a long-term strategy, few in the room expected the discussions would end without a clash. "OPEC is dead," declared one frustrated official, according to two sources who were present or briefed about the Vienna …

  • Merck sales disappoint as Januvia, Remicade fall short Reuters

    Merck & Co Inc on Thursday reported lower-than-expected quarterly revenue, hurt by disappointing sales of its Januvia diabetes treatment and Remicade arthritis drug. Combined sales of Januvia and a related …

    A view of the Merck & Co. campus in Linden, New Jersey

    Merck & Co Inc on Thursday reported lower-than-expected quarterly revenue, hurt by disappointing sales of its Januvia diabetes treatment and Remicade arthritis drug. Combined sales of Januvia and a related combination medicine called Janumet edged up 1 percent to $1.41 billion, $30 million shy of Wall Street expectations. …

  • Exxon, fighting climate change charges, plans fuel cell venture Reuters

    By Ernest Scheyder HOUSTON (Reuters) - Exxon Mobil Corp, which has been fighting accusations it misled investors and the public for years about the risks of climate change, said on Thursday it will expand …

    A sign is seen in front of the Exxonmobil Baton Rouge Refinery in Baton Rouge, Louisiana.

    By Ernest Scheyder HOUSTON (Reuters) - Exxon Mobil Corp, which has been fighting accusations it misled investors and the public for years about the risks of climate change, said on Thursday it will expand a research project with FuelCell Energy Inc that aims to cut the cost of collecting carbon emissions from power plants. …

  • Fiat Chrysler says self-driving car deal with Google not exclusive Reuters

    ROME (Reuters) - A newly-struck deal between Alphabet Inc's Google and Fiat Chrysler Automobiles (FCA) for a fleet of 100 self-driving cars is not exclusive, Fiat's Chief Executive Sergio Marchionne …

    Fiat Chrysler CEO Sergio Marchionne poses for photographers next to the new Cinquecento Fiat car during a photocall in Turin

    ROME (Reuters) - A newly-struck deal between Alphabet Inc's Google and Fiat Chrysler Automobiles (FCA) for a fleet of 100 self-driving cars is not exclusive, Fiat's Chief Executive Sergio Marchionne said on Thursday. Speaking in Rome, Marchionne said that, under the agreement, the two companies could talk to other …

  • German railway operator lines up driverless automobile service Reuters

    State-owned German rail operator Deutsche Bahn [DBN.UL] is looking to operate a fleet of driverless cars to carry passengers, its boss told a German newspaper. Chief executive Ruediger Grube explained …

    Passenger enters train during strike by GDL train drivers union at the main train station in Munich

    State-owned German rail operator Deutsche Bahn [DBN.UL] is looking to operate a fleet of driverless cars to carry passengers, its boss told a German newspaper. Chief executive Ruediger Grube explained in Thursday's WirtschaftsWoche that the logic for the move was that Deutsche Bahn was already promoting its services as …

  • China regulator to launch campaign to clean up e-commerce, online ads Reuters

    By Paul Carsten BEIJING (Reuters) - Chinese authorities will launch a campaign to clean up e-commerce - targeting trademark violations, counterfeit and poor quality products and the faking of transactions …

    Baidu's company logo is seen at its headquarters in Beijing

    By Paul Carsten BEIJING (Reuters) - Chinese authorities will launch a campaign to clean up e-commerce - targeting trademark violations, counterfeit and poor quality products and the faking of transactions to boost a merchant's online rankings, the official People's Daily said. It did not name any specific companies but …

  • European airports battle to boost retail spend as attacks weigh Reuters

    By Victoria Bryan and Sarah Young BERLIN/LONDON (Reuters) - European airports are racing to redesign terminals and offer new services to pull more passengers into their stores, in the face of online competition …

    A Lufthansa World shop inside the new satellite facility for Munich Airport's Terminal 2

    By Victoria Bryan and Sarah Young BERLIN/LONDON (Reuters) - European airports are racing to redesign terminals and offer new services to pull more passengers into their stores, in the face of online competition and militant attacks that have kept away some big-spending Asian travelers. Seeking to boost the key measure …

  • China to invest $11.9 billion in aviation infrastructure in 2016: Xinhua Reuters

    By Adam Jourdan and Siva Govindasamy SHANGHAI/SINGAPORE (Reuters) - China will invest 77 billion yuan ($11.9 billion) this year in building aviation infrastructure, the official Xinhua news agency reported …

    A security guard keeps watch at Asian Business Aviation Conference and Exhibition (ABACE) at Hongqiao International Airport in Shanghai

    By Adam Jourdan and Siva Govindasamy SHANGHAI/SINGAPORE (Reuters) - China will invest 77 billion yuan ($11.9 billion) this year in building aviation infrastructure, the official Xinhua news agency reported late on Wednesday, citing the country's civil aviation regulator. The Civil Aviation Administration of China (CAAC) …

  • China's car buyers seek more room, comfort; boost for 'minivans' Reuters

    By Norihiko Shirouzu BEIJING (Reuters) - Even as Chinese car buyers feed a boom in crossovers and sport utility vehicles (SUVs), automakers are looking ahead to the likely 'next big thing' and reckon …

    Visitors walk around a Toyota Alphard presented during the Auto China 2016 auto show in Beijing

    By Norihiko Shirouzu BEIJING (Reuters) - Even as Chinese car buyers feed a boom in crossovers and sport utility vehicles (SUVs), automakers are looking ahead to the likely 'next big thing' and reckon affordable people-carriers, or multi-purpose vehicles (MPVs), could be it. Chinese tend to live near their parents, and …

  • Australia clears AB Inbev's $100 billion SABMiller buyout plan Reuters

    Australia's antitrust regulator on Thursday cleared beer giant Anheuser Busch Inbev SA's planned $100 billion takeover of rival SABMiller Plc, saying the deal would not adversely affect the domestic market. …

    The InBev logo is pictured outside brewer Anheuser-Busch InBev's headquarters in Leuven

    Australia's antitrust regulator on Thursday cleared beer giant Anheuser Busch Inbev SA's planned $100 billion takeover of rival SABMiller Plc, saying the deal would not adversely affect the domestic market. "The ACCC considers that the proposed acquisition is unlikely to result in higher beer prices for consumers," Australian …

  • Gundlach warns on 'safe' stocks, Trump presidency Reuters

    By Trevor Hunnicutt NEW YORK (Reuters) - DoubleLine Capital LP Chief Executive Jeffrey Gundlach on Wednesday warned that increasing investor demand for ostensibly safe low-volatility stocks and utility …

    Jeffrey Gundlach, Chief Executive Officer, DoubleLine Capital, speaks at the Sohn Investment Conference in New York

    By Trevor Hunnicutt NEW YORK (Reuters) - DoubleLine Capital LP Chief Executive Jeffrey Gundlach on Wednesday warned that increasing investor demand for ostensibly safe low-volatility stocks and utility stocks is a major risk facing markets. The closely watched investor, speaking at the Sohn Investment Conference, also …

  • Tesla puts pedal to the metal, 500,000 cars planned in 2018 Reuters

    Tesla Motors Inc said it was stepping up production plans for its upcoming Model 3 mass-market sedan and would build a total of 500,000 all-electric vehicles in 2018, two years ahead of schedule, but …

    Handout of Tesla Motors' mass-market Model 3 electric cars

    Tesla Motors Inc said it was stepping up production plans for its upcoming Model 3 mass-market sedan and would build a total of 500,000 all-electric vehicles in 2018, two years ahead of schedule, but warned that spending will ramp up in tandem. The company, which three months ago aimed to make a net profit in the final …

  • Hong Kong cracks down on illegal money flows from China trade Reuters

    By Saikat Chatterjee HONG KONG (Reuters) - Hong Kong is conducting a multi-pronged customs, shipping and financial sector crackdown against so-called fake trade invoicing that allows billions of dollars …

    A Hong Kong policeman stands guard at Hong Kong's border with Shenzhen

    By Saikat Chatterjee HONG KONG (Reuters) - Hong Kong is conducting a multi-pronged customs, shipping and financial sector crackdown against so-called fake trade invoicing that allows billions of dollars of capital to leave China illegally. Hong Kong's central bank told Reuters it has beefed up its scrutiny of banks' trade …

  • ICE shelves plans for London bourse counter bid Reuters

    By Noor Zainab Hussain and Richa Naidu LONDON/BENGALURU (Reuters) - The New York Stock Exchange's owner has shelved plans to make a counterbid for London Stock Exchange that could have derailed the British …

    A worker shelters from the rain as he passes the London Stock Exchange in the City of London

    By Noor Zainab Hussain and Richa Naidu LONDON/BENGALURU (Reuters) - The New York Stock Exchange's owner has shelved plans to make a counterbid for London Stock Exchange that could have derailed the British firm's planned merger with Deutsche Boerse. Intercontinental Exchange Inc's CEO Jeffrey Sprecher accused the LSE …

  • Engie in deal with Accenture to boost customer experience Reuters

    French gas and power group Engie signed a deal with consultants Accenture on Wednesday to develop digital applications for boosting its customer service. Fjord - Accenture's design and innovation unit …

    Isabelle Kocher, new CEO of gas and power group Engie, attends the group shareholders general meeting in Paris

    French gas and power group Engie signed a deal with consultants Accenture on Wednesday to develop digital applications for boosting its customer service. Fjord - Accenture's design and innovation unit - will develop new applications for billing, electric vehicles, web-linked domestic applications and clients who produce …

  • Greek bank stocks could rise 90 percent on bailout cash deal: Morgan Stanley Reuters

    Greek banking stocks could rise 90 percent from current levels and yield premiums over German benchmark bonds narrow if Greece and its creditors can reach a deal on releasing new bailout funds and debt …

    People walk near an ATM machine in central Athens, Greece

    Greek banking stocks could rise 90 percent from current levels and yield premiums over German benchmark bonds narrow if Greece and its creditors can reach a deal on releasing new bailout funds and debt relief, Morgan Stanley said on Wednesday. The broker upgraded Greek bank stocks to "overweight", saying current valuations …

  • Biotech stock swoon sparks buyout interest: investor Reuters

    The Nasdaq Biotechnology index <.NBI> fell 23 percent in the first three months of 2016, its worst quarterly performance since 2002, and remains down one-third from its all-time high last July. Andy Acker, …

    A person holds pharmaceutical tablets and capsules in illustration picture in Ljubljana

    The Nasdaq Biotechnology index <.NBI> fell 23 percent in the first three months of 2016, its worst quarterly performance since 2002, and remains down one-third from its all-time high last July. Andy Acker, a portfolio manager at Janus Capital Group who helps oversee $7 billion in healthcare assets, says the sell-off led …

  • Google, Fiat Chrysler team up on self-driving minivans Reuters

    By Bernie Woodall and Edward Taylor DETROIT/FRANKFURT (Reuters) - Alphabet Inc's Google and Fiat Chrysler Automobiles NV have agreed to work together to build a fleet of 100 self-driving minivans, marking …

    A Lexus version of a Google Self Driving car is shown in Moutain View

    By Bernie Woodall and Edward Taylor DETROIT/FRANKFURT (Reuters) - Alphabet Inc's Google and Fiat Chrysler Automobiles NV have agreed to work together to build a fleet of 100 self-driving minivans, marking the first time that a Silicon Valley firm has teamed up with a traditional carmaker to develop an autonomous vehicle. …

  • PIMCO says buying emerging markets; likes ruble, Mexican peso Reuters

    Asset manager PIMCO said on Wednesday it was time to actively engage in emerging markets again and highlighted the Russian ruble and Mexican peso as examples of assets that offered potential gains. PIMCO's …

    The offices of PIMCO are shown in Newport Beach

    Asset manager PIMCO said on Wednesday it was time to actively engage in emerging markets again and highlighted the Russian ruble and Mexican peso as examples of assets that offered potential gains. PIMCO's head of asset allocation for EMEA, Geraldine Sundstrom, said commodity prices appeared to be hitting a bottom, Chinese …

  • China's Lenovo plans to invest $500 million in tech-startup fund Reuters

    Lenovo Group Ltd, the world's largest personal computer maker, plans to invest $500 million in a technology start-up fund, the Beijing-based company said on Wednesday. The fund Lenovo Capital, which will …

    A Lenovo logo is seen at the computer in Kiev

    Lenovo Group Ltd, the world's largest personal computer maker, plans to invest $500 million in a technology start-up fund, the Beijing-based company said on Wednesday. The fund Lenovo Capital, which will be funded and managed by Lenovo Group, is looking to invest in sectors including artificial intelligence, robot and …