Business

Don't know where U.S. stocks are headed? The options market has a deal for you

By Saqib Iqbal Ahmed NEW YORK (Reuters) - One year after the U.S. stock market topped out, indexes are again near their highs and that makes options traders nervous, so much so that bullish bets on U.S. equities now are bargain priced, even though the underlying...

Saturday, June 4, 2016 - 12:27am

U.S. prosecutors to refund hedge fund insider trading settlement

By Nate Raymond NEW YORK (Reuters) - U.S. prosecutors have agreed to a rare settlement refund of $6 million to hedge fund Diamondback Capital Management LLC after a ruling by a 2014 federal appeals court made pursuing insider trading cases tougher, according to...

Friday, June 3, 2016 - 11:43pm

BMW revamps R&D for new era of self-driving cars

By Edward Taylor and Irene Preisinger MUNICH (Reuters) - BMW is overhauling its research and development activities to focus on self-driving cars, board member Klaus Froehlich told Reuters, a move which includes a revamp of its "i" sub-brand of carbon-fibre...

Friday, June 3, 2016 - 10:22pm

Ex-Oppenheimer adviser arrested for trading on Pfizer employee's tips

By Nate Raymond NEW YORK (Reuters) - A former Oppenheimer & Co Inc investment adviser was arrested on Friday on charges he traded on inside information supplied by a childhood friend working at Pfizer Inc <PFE.N> about deals that drugmaker was...

Friday, June 3, 2016 - 9:55pm

Executive suicides scratch Switzerland's picture perfect veneer

By John Miller and John O'Donnell ZURICH/FRANKFURT (Reuters) - An unusual number of suicides by top executives in Switzerland has prompted introspection in its business community over how senior managers are dealing with stress as its companies struggle to...

Friday, June 3, 2016 - 9:34pm

Russia to maintain OPEC relations, plans autumn meeting

By Vladimir Soldatkin and Olesya Astakhova MOSCOW (Reuters) - Russia, the world's top oil producer, plans to continue its consultations with OPEC and may hold a meeting with the group this autumn, Energy Minister Alexander Novak told reporters. The...

Friday, June 3, 2016 - 7:14pm

Jaguar Land Rover sues Chinese automaker over Evoque copycat: source

By Jake Spring BEIJING (Reuters) - Jaguar Land Rover is suing Chinese automaker Jiangling Motor <000550.SZ> for allegedly copying the British firm's Range Rover Evoque, a person with direct knowledge of the matter said - a rare move by a...

Friday, June 3, 2016 - 6:34pm

Weak jobs report weighs on Wall Street, bank shares

By Lewis Krauskopf NEW YORK (Reuters) - Wall Street finished lower on Friday, led down by financial shares, after a surprisingly weak jobs report prompted doubts about the U.S. economy and its ability to sustain a near-term interest rate hike. The U...

Friday, June 3, 2016 - 6:06pm

Falih charm offensive slowly wins back OPEC for Saudis

By Dmitry Zhdannikov, Rania El Gamal and Reem Shamseddine VIENNA (Reuters) - Russian oil billionaire Vagit Alekperov isn't easily swayed, but Saudi Arabia's new Energy Minister Khalid al-Falih achieved it this week. Intense diplomacy by the soft-...

Friday, June 3, 2016 - 5:35pm

Iraq SOMO head says so far, so good for OPEC's strategy

By Alex Lawler VIENNA (Reuters) - OPEC's strategy of letting the oil market balance itself is working as investment in the industry is falling and any recovery will take time to bring new supplies, a senior Iraqi oil official said on Friday. The...

Friday, June 3, 2016 - 4:42pm

Equities attract $1.5 billion, first inflows in eight weeks: BAML

By Claire Milhench LONDON (Reuters) - Investors shovelled $1.5 billion into equities in the week to June 1, the first net inflows in eight weeks, as appetite for U.S. stocks in particular improved, Bank of America Merrill Lynch (BAML) said on Friday...

Friday, June 3, 2016 - 4:33pm

As Iraq repays debt, Lukoil pledges to unlock investment

By Dmitry Zhdannikov VIENNA (Reuters) - Iraq has positively surprised oil majors by starting quickly to repay accumulated debts, the head of Russia's Lukoil said, pledging more investment to allow OPEC's second-largest producer to maintain stellar output growth...

Friday, June 3, 2016 - 4:21pm

JPMorgan chief says Brexit could mean 'fewer' UK jobs with the bank

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Friday, June 3, 2016 - 3:22pm

Fed's Evans sees case for deferring U.S. rate hikes for years

By David Milliken and Andy Bruce LONDON (Reuters) - Chicago Fed President Charles Evans called into question the likelihood of a U.S. interest rate hike this summer, saying he saw a "reasonable case" for delaying higher borrowing costs until core inflation...

Friday, June 3, 2016 - 1:18pm

Oil slips on U.S. economy concern, Brent holds near $50

By Devika Krishna Kumar NEW YORK (Reuters) - Oil prices dipped on Friday on concerns about the U.S. economy, but Brent crude held close to $50 a barrel in choppy trading with support from a weaker dollar and relief that most OPEC members do not plan to flood...

Friday, June 3, 2016 - 12:49pm

Wal-Mart to test grocery delivery with Uber, Lyft

By Nandita Bose and Arathy S Nair (Reuters) - Wal-Mart Stores Inc will partner with ride hailing services Uber and Lyft to trial online grocery deliveries, as it looks to speed up shipment times and better compete with rivals like Amazon.com Inc...

Friday, June 3, 2016 - 11:44am

Fed likely to avoid rate hike before British vote EU

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) - The U.S. Federal Reserve may delay an interest rate rise at its June meeting due to concern about the economic fallout of Britain's impending vote on whether to leave the European Union....

Friday, June 3, 2016 - 10:35am

Asia stocks down, dollar posts gains on positive U.S. data

By Nichola Saminather SINGAPORE (Reuters) - Asian shares fell on Friday as investors balanced positions on the last day of the quarter. The dollar rose on positive U.S. economic growth data and the euro was flat after overnight losses on...

Changes at Diageo put focus back on Scotch

By Martinne Geller LONDON (Reuters) - Diageo, the world's largest spirits maker, spotted in 2015 that drinkers in the emerging middle class in Ghana and Cameroon were keen to show off their new status by buying their own bottles of Johnnie Walker rather than...

Turkey's Halkbank says operations, transactions comply with international regulations

ISTANBUL (Reuters) - Turkish state-run lender Halkbank's operations and transactions fully comply with national and international regulations, it said in a statement regarding the arrest of its deputy general manager Mehmet Hakan Atilla in the United States...