Business News

  • Retailers rebound to boost S&P, Nasdaq to record highs

    (Reuters) - U.S. stocks rose on Thursday, with the S&P 500 and Nasdaq Composite scaling new highs, buoyed by strong earnings reports from the embattled retailer sector.

  • OPEC, non-OPEC extend oil output cut by 9 months to fight glut

    VIENNA (Reuters) - OPEC and non-members led by Russia decided on Thursday to extend cuts in oil output by nine months to March 2018 as they battle a global glut of crude after seeing prices halve and revenues drop sharply in the past three years.

  • Oil plunges 4 percent on disappointment with OPEC cuts

    NEW YORK (Reuters) - Oil prices fell about 4 percent on Thursday, on track for their biggest daily drop in three weeks, after OPEC's decision to extend production curbs fell short of expectations of deeper or longer cuts.

  • Wilbur Ross seeks bigger budget for trade enforcement

    WASHINGTON (Reuters) - U.S. Commerce Secretary Wilbur Ross said on Thursday that a $5.5 million increase requested for the agency's enforcement budget this year will have a "real impact" in cracking down on unfair trade practices and export security violations.

  • New Ford CEO relies on veterans to reboot profits

    BENGALURU/DETROIT (Reuters) - Ford Motor Co on Thursday reshuffled senior management and brought back a former executive from Uber Technologies Inc, signaling its new chief executive officer will rely on tested company veterans to turn Ford around rather than outside talent.

  • Jobless claims edge up; goods trade deficit widens

    WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits rose slightly last week and the four-week moving average of claims hit a 44-year low, suggesting a further tightening of the labor market that could encourage the Federal Reserve to raise interest rates next month.

  • Exclusive: Bankrupt Westinghouse ends pensions for ex-CEOs, executives

    WILMINGTON, Del (Reuters) - Bankrupt Westinghouse Electric Co LLC, the U.S. nuclear technology firm owned by Toshiba Corp <6502.T>, has stopped making pension payments to former executives, according to a letter seen by Reuters, removing a benefit that has helped the company retain top talent.

  • Lawsuit accuses GM of rigging diesel truck emissions

    (Reuters) - General Motors Co was accused in a lawsuit on Thursday of rigging hundreds of thousands of diesel trucks with devices similar to those used by Volkswagen AG , to ensure they pass required emissions tests.

  • Ballooning Chinese dollar borrowing a dilemma for index trackers

    LONDON/HONG KONG (Reuters) - Record-breaking dollar bond sales from Chinese companies are steadily increasing China's weight in global indexes, raising concerns about overexposure among investors who track them.

  • Best Buy beats on profit, sales; shares at 11-year high

    CHICAGO (Reuters) - Best Buy Co Inc reported an unexpected rise in first-quarter comparable sales and the No. 1 U.S. electronics retailer said it planned to save $600 million in costs by the end of fiscal 2021, sending shares to an 11-year high on Thursday.

News, Photo and Web Search

Search News by Ticker