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Russian oil output highest in 30 years ahead of Doha meeting
By Vladimir Soldatkin MOSCOW (Reuters) – Russia's oil production rose 0.3 percent to 10.91 million barrels per day in March, its highest level in nearly 30 years, raising questions over Moscow's commitment to freeze output ahead of a producers' meeting in Doha later in April. Energy Ministry data on Saturday showed that in tonnes, oil output reached 46.149 million in March versus... [Read more]
China’s Anbang abandons $14 billion bid to buy Starwood Hotels
China's Anbang Insurance Group Co said on Thursday it has abandoned its $14 billion bid for Starwood Hotels & Resorts Worldwide Inc , paving the way for Marriott International Inc to buy the Sheraton and Westin hotels operator. The surprise withdrawal marks an anticlimactic end to a bidding war that had pitted Marriott's ambitions to create the world's largest lodging company,... [Read more]
Hillary Clinton to propose $10 billion manufacturing investment
By Alana Wise WASHINGTON (Reuters) – Democratic presidential candidate Hillary Clinton on Friday will propose a $10 billion investment in partnerships to encourage the growth of the U.S. manufacturing sector as part of a national push to discourage outsourcing in the industry. Clinton is slated to roll out the proposal on Friday in Syracuse, New York, ahead of the state's nominating contest... [Read more]
Tesla unveils $35,000-Model 3 with range of 215 miles
By Alexandria Sage and Joseph White HAWTHORNE, Calif. (Reuters) – Tesla Motors gave a sneak preview Thursday of its Model 3 sedan, saying more than 130,000 people had ordered the car, even though it is more than a year away from production. Tesla Chief Executive Elon Musk unveiled a prototype of the Model 3 in Hawthorne, California outside Los Angeles to hundreds of Tesla owners and the media,... [Read more]
U.S. jury finds GM ignition switch defective but did not cause crash
A U.S. jury found on Wednesday that a defective ignition switch was not to blame for a 2014 accident in a General Motors car, the first trial to reach a verdict since the company recalled millions of vehicles with the part. The eight jurors, who deliberated less than a day following a two-week trial in Manhattan, found that the ignition switch … View post: U.S. jury finds GM ignition switch... [Read more]
Appaloosa calls for removal of SunEdison’s TerraForm execs
Billionaire David Tepper's Appaloosa Management is seeking to overhaul TerraForm Power Inc's Conflicts Committee, claiming the company's controlling shareholder SunEdison Inc has breached its fiduciary duties. Appaloosa is calling for removal of Peter Blackmore, Jack Jenkins-Stark and Christopher Compton from See the original post here: Appaloosa calls for removal of SunEdison’s... [Read more]
Chrysler to recall 60,000 SUVs in China over ABS braking issue: watchdog
SHANGHAI (Reuters) – Fiat Chrysler Automobiles NV's China unit will recall over 60,000 sport-utility vehicles in the country due to issues related to the cars' anti-skid braking (ABS) systems, a Chinese regulator said in a statement on Tuesday. China's General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) said that under … More here: Chrysler... [Read more]
In oil rout, some U.S. energy bosses were spared the pain
By Ross Kerber and Michael Erman BOSTON/NEW YORK (Reuters) – More cash, lower targets and bigger share awards – not all U.S. energy bosses are feeling the full impact of tumbling oil prices in their paychecks. Some oil and gas companies are making it easier for their top managers to meet performance goals or are offering more cash as a prolonged oil slump keeps share prices at lows not... [Read more]
Google’s cloud business nabs Home Depot as client
By Sarah McBride SAN FRANCISCO (Reuters) – Google Inc, long an also-ran in cloud services, has scored an important victory in its effort to win corporate clients: Home Depot is moving some of its data to Google's cloud. The deal, flagged Tuesday by Google executive Greg DeMichillie in a briefing and expected to be… See more here: Google’s cloud business nabs Home Depot as client Read More →
U.S. prosecutors, Apple to bring witnesses to hearing on locked iPhone
By Dustin Volz WASHINGTON (Reuters) – The U.S. government and Apple Inc will be able to cross-examine the other's witnesses in a court hearing next week on whether the technology company must help federal investigators unlock an encrypted iPhone tied to one of the San Bernardino killers, Apple said. The hearing, set for Tuesday, is the latest development in a showdown between Apple and... [Read more]