Business News

Global stocks rise, dollar slips as traders price in accommodative Fed stance

LONDON (Reuters) - Global shares hit their highest levels in five months and the dollar dipped on Monday, as traders began to price in the likelihood of the U.S. Federal Reserve sticking to an accommodative stance at its policy meeting this week. European markets extended a run of gains, helped by a jump in shares in German lenders Deutsche Bank and Commerzbank after they confirmed over the weekend that they were in ...

18 Mar 12:55 PM 0 Read More...

Far-flung job offers pose tough choices for GM Ohio workers

TOLEDO, Ohio (Reuters) - General Motors Co built the final Chevrolet Cruze small car at its Lordstown, Ohio, assembly plant on March 6, despite demands from President Donald Trump, Ohio political leaders and the United Auto Workers union not to close the plant and leave nearly 1,500 workers laid off. Dina Mays, a 14-year veteran of Lordstown Assembly, was not at the plant for its last day. She had already moved on t...

18 Mar 12:55 PM 0 Read More...

Deutsche, Commerzbank merger would put 30,000 jobs at risk: union

BERLIN/FRANKFURT (Reuters) - A merger of Deutsche Bank and its rival Commerzbank could result in as many as 30,000 job cuts over the long term, a representative of German union Verdi who is a Deutsche supervisory board member told n-tv broadcaster. A top investor in Deutsche Bank also expressed doubts about a potential merger, according to a person close to the investor. The fierce opposition from the union and share...

18 Mar 12:55 PM 0 Read More...

Oil edges above $67 as OPEC-led supply cuts support

LONDON (Reuters) - Oil edged further above $67 a barrel on Monday, supported by the prospect of prolonged OPEC-led oil supply curbs though concern that an economic downturn may dent fuel consumption curbed gains. OPEC and non-OPEC ministers who met in Azerbaijan to monitor their oil supply-cut accord said they planned to exceed their commitments. Saudi Arabia signaled OPEC may need to extend the curbs until the end o...

18 Mar 12:55 PM 0 Read More...

Britain's Ocado to establish U.S. office in Washington D.C. area

LONDON (Reuters) - British online supermarket Ocado plans to establish an office for its Ocado Solutions technology business in the Washington D.C. area of the United States, it said on Monday. It said from April the office will be based in Tyson’s, Virginia, ahead of establishing a permanent location in the Washington D.C. area. Last year Ocado signed major technology partnership deals with Kroger in the U.S. and ...

18 Mar 12:54 PM 0 Read More...

Oil pulled two ways by economic slowdown, OPEC-led supply cuts

SINGAPORE (Reuters) - Oil prices were mixed on Monday, weighed by concerns that an economic downturn may dent fuel consumption, but supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela. Brent crude oil futures were at $67.24 per barrel at 0737 GMT, up 8 cents from their last close, and not far off the $68.14 per barrel 2019-high reached last week. U.S. West Texas Intermed...

18 Mar 7:54 AM 0 Read More...

Ethiopia says crashed jet's black boxes show similarities to Lion Air disaster

ADDIS ABABA/WASHINGTON (Reuters) - The crash of an Ethiopian Airlines plane that killed 157 people had “clear similarities” with October’s Lion Air crash, Ethiopia said on Sunday, shown by initial analysis of the black boxes recovered from the wreckage of the March 10 disaster. The crash has generated one of the most widely watched and high-stakes inquiries for years, with the latest version of Boeing’s profi...

18 Mar 7:54 AM 0 Read More...

Merger of Deutsche Bank, Commerzbank could cost 20,000 jobs: union chief

FRANKFURT (Reuters) - A merger of Deutsche Bank and Commerzbank could put 20,000 jobs at risk, the head of labor union Verdi said in a media interview on Monday, a day after the two banks confirmed they were discussing the possibility. “Some 20,000 or more positions could come under fire,” Frank Bsirske, chief of Verdi and a supervisory board member at Deutsche Bank, told German newspapers Stuttgarter Zeitung an...

18 Mar 7:54 AM 0 Read More...

Shares in Deutsche Bank, Commerzbank up after merger talks confirmed

BERLIN (Reuters) - Shares in Deutsche Bank and its smaller German peer Commerzbank were indicated to open higher on Monday after the two lenders on Sunday confirmed merger talks. Deutsche Bank shares were up 3.5 percent in premarket trade at Lang & Schwarz at 0656 GMT while Commerzbank rose 5.4 percent. Reporting by Thomas Seythal; editing by Madeline Chambers...

18 Mar 7:54 AM 0 Read More...

Deutsche Bank and Commerzbank go public on merger talks

FRANKFURT (Reuters) - Deutsche Bank and Commerzbank confirmed on Sunday they were in talks about a merger, prompting labor union concerns about possible job losses and questions from analysts about the merits of a combination. Germany’s two largest banks issued short statements following separate meetings of their management boards, a person with knowledge of the matter said, indicating a quickening of pace in the ...

18 Mar 7:54 AM 0 Read More...