No Image

Fed’s Bullard: markets read latest Fed minutes correctly

SINGAPORE The market has a more appropriate reading on the chances of a U.S. interest rate rise in June now than before, St. Louis St. Louis Federal Reserve President James Bullard said on Thursday.”I think they read the minutes correctly,” Bullard told reporters, referring to the minutes of the Fed’s latest policy meeting. Global...
read more
No Image

Xerox’s revenue falls on lower printer sales

Xerox Corp (XRX.N) reported a 4.2 percent fall in quarterly revenue, hurt by lower sales of printers and copiers, and said it expects to incur about $100 million in restructuring costs in the second quarter.The company’s shares closed down about 13 perce...
read more
No Image

Saudi Aramco CEO expects oil price upturn by year-end

KHOBAR, Saudi Arabia Saudi Aramco [SDABO.UL] expects a recovery in oil prices by the end of this year, the state oil giant’s chief executive said on Monday, emphasizing that Saudi Arabia will always meet customer demand.The comments by CEO Amin Nasser ca...
read more
No Image

Saudi reform plan pleases markets, doesn’t reassure skeptics

DUBAI A sweeping economic reform plan announced by Saudi Arabia on Monday pleased the financial markets but fell short of convincing sceptics that the kingdom can prosper in an era of cheap oil.Deputy Crown Prince Mohammed bin Salman promised to invest Saudi p...
read more
No Image

Saudi prince unveils sweeping plans to end ‘addiction’ to oil

RIYADH The powerful young prince overseeing Saudi Arabia’s economy unveiled ambitious plans on Monday aimed at ending the kingdom’s “addiction” to oil and transforming it into a global investment power.Deputy Crown Prince Mohammed bin S...
read more
No Image

U.S. stocks fall on oil, earnings; dollar retreats

U.S. stock prices fell on Monday due to weaker oil prices and disappointing company results, while the dollar retreated on profit-taking ahead of central bank policy meetings in the United States and Japan later this week.Reluctance to make big bets in advance...
read more
No Image

Bombardier in spotlight as market watches for Delta deal, AGM

MONTREAL/TORONTO Canadian planemaker Bombardier Inc (BBDb.TO) faces a pivotal week that may see a key deal announced with Delta Air Lines Inc (DAL.N) but a federal aid package is unlikely to be approved in time for its annual meeting on Friday. The deal with A...
read more
No Image

Tilton’s Patriarch Partners sued by the Zohar funds she created

Patriarch Partners, the private equity firm of flamboyant investor Lynn Tilton, is being sued for allegedly refusing to provide financial records to the new manager of the Zohar funds that she controlled until earlier this year.Filed in Delaware’s Court ...
read more
No Image

Gannett bids on Tribune Publishing, wants an answer

Tribune Publishing Co is reviewing an unsolicited and possibly unwelcome $815 million takeover bid from Gannett Co Inc, a move by Gannett to gain scale as the newspaper industry continues to consolidate.Gannett, publisher of USA Today, announced on Monday that...
read more
No Image

Citadel tops list of private U.S. trading venues: report

Citadel Securities, one of the top market makers in U.S. stocks and listed stock options, runs one of the largest stock trading venues in the country, according to a report released on Monday aimed at providing transparency into where stock trading occurs.Cita...
read more