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U.S. top court rejects Ecuador challenge to Chevron arbitration award
The U.S. Supreme Court on Monday rejected Ecuador's challenge to a $96 million international arbitration award in favor of energy company Chevron Corp in a dispute over the development of oil fields in the South American country. The high court's refusal to hear the case leaves in place an August 2015 ruling by the U.S. Court of Appeals for the District of Columbia Circuit upholding a 2011... [Read more]
Auction for Warren Buffett charity lunch starts slow
The annual charity auction for a private lunch with billionaire investor Warren Buffett is underway. The top bid to dine with the chairman of the conglomerate Berkshire Hathaway Inc was $200,100 at 12 p.m. EDT (1600 GMT) on Monday Here is the original: Auction for Warren Buffett charity lunch starts slow Read More →
Lufthansa CEO says rising protectionism hampering M&A
The growing trend of protectionism worldwide is hampering cross-border consolidation in the airline industry, the chief executive of German airlines group Lufthansa said on Saturday. “To be honest I see protectionism around the world rising rather than more liberalization,” Carsten Spohr said on Saturday at a Star Alliance event in Zurich, highlighting… Here is the original: Lufthansa... [Read more]
Early days, but Apple Pay struggles outside U.S.
More than 18 months after Apple Pay took the United States by storm, the smartphone giant has made only a small dent in the global payments market, snagged by technical challenges, low consumer take-up and Read more: Early days, but Apple Pay struggles outside U.S. Read More →
Uber raises $3.5 billion from Saudi Arabia’s sovereign wealth fund
By Heather Somerville SAN FRANCISCO (Reuters) – Uber [UBER.UL] has raised $3.5 billion from Saudi Arabia's sovereign wealth fund, the U.S. ride-hailing service said on Wednesday, gaining a crucial partner in its expansion into the Middle East. The investment from the Saudi Arabian Public Investment Fund… See the original post here: Uber raises $3.5 billion from Saudi Arabia’s... [Read more]
U.S. oil rises, global crude weaker on strong Middle East output
U.S. oil prices rose on Tuesday, buoyed by the start of the U.S. summer driving season, while international fuel markets fell on rising output in the Middle East, which mostly serves Asian customers. U.S. West Texas Intermediate (WTI) crude oil futures were trading at $49.58 per barrel at 0707 GMT (04:07 a.m. EDT), up 25 cents from their last settlement. Brent crude oil futures were down 18 cents... [Read more]
Bourbon maker Brown-Forman shares seen expensive
Shares of Brown-Forman , which makes Jack Daniel's and other liquors, are seen as pricey as the world's top bourbon seller faces slowing growth in an increasingly crowded field, Barron's said in its latest online edition. Brown-Forman's stock had delivered annual gain of 12.5 percent in the past decade including dividend, outpacing the Standard & Poor's 500 index by See... [Read more]
Verizon and unions reach tentative deal to end strike
Verizon Communications Inc and unions representing nearly 40,000 wireline workers have reached a tentative deal “in principle” to end a strike that started April 13th, U.S. Secretary of Labor Thomas Perez said on Friday. Shares in Verizon, the No. 1 U.S. wireless company, jumped as much as 1.2 percent after the announcement and in afternoon trading were up almost 1 … Go here to read... [Read more]
Sumner Redstone suggests he could oust Viacom board, CEO
A judge set an early June hearing on the possible removal of CEO Philippe Dauman from the trust that will control the media company when Redstone dies or is deemed incapacitated. In a statement issued through a spokesman, Redstone, who turned 93 on Friday, said he would act in “the best interests of shareholders,” when weighing whether or not to oust Dauman… Read the original post: Sumner... [Read more]
Oil tests out $50 a barrel as supply concerns resurface
Oil prices tested the $50-per-barrel mark on Thursday as production outages brought a faster-than-expected recovery to an oversupplied market many thought will stay depressed through the year. While a crude glut could grow in coming months if demand stalls, wildfires in Canada's oil sands, unrest in the Nigerian and Libyan energy sectors, and … Read more: Oil tests out $50 a barrel as... [Read more]