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Oil slumps below $28 to 2003 low as Iran sanctions lifted

Oil prices slumped to a 2003 low below $28 per barrel on Monday as the market anticipated a rise in Iranian exports after the lifting of sanctions against Tehran over the weekend. Responding to Tehran's compliance with a nuclear deal, the …

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Oil slumps below $28 to 2003 low as Iran sanctions lifted

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Growth funds dumping Apple stock as iPhone sales seen sagging; value-managers moving in

By David Randall NEW YORK (Reuters) – Major U.S. growth mutual funds have been among the largest sellers of Apple Inc shares over the past six months, fueling speculation that the company’s days of supercharged growth have come to an end. Amid concerns that iPhone sales may be set to drop, the $77.3 billion American Funds Capital World Growth & Income Fund has sold all of its 1.7 million Apple …

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Growth funds dumping Apple stock as iPhone sales seen sagging; value-managers moving in

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Wal-Mart pulls plug on smallest stores, shuts 269 locations

The move includes Wal-Mart's largest-ever single culling in the United States, where the company is closing 154 stores. The world's largest retailer said it hoped to transfer many of the 10,000 U.S. and 6,000

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Wal-Mart pulls plug on smallest stores, shuts 269 locations

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Lower legal bill boosts Citi profit but core revenue weak

Citigroup Inc reported a massive jump in quarterly profit as a sharp drop in legal costs and gains from the disposal of unwanted assets masked weak revenue from its core business. Shares of Citi, which was displaced by Wells Fargo & Co as the No.3 U.S. bank by assets, fell as much as 7.2 percent to a near three-year low of $42.11 on Friday. Most banks have resorted to aggressive

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Lower legal bill boosts Citi profit but core revenue weak

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Raft of weak U.S. data points to sharply slower growth

By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales fell in December as unseasonably warm weather undercut purchases of winter apparel and cheaper gasoline weighed on receipts at service stations, the latest indication that economic growth braked sharply in the fourth quarter. The growth picture was further darkened by other data on Friday showing industrial production fell in December, dragged down by cutbacks in utilities and mining output. Signs the economy …

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Raft of weak U.S. data points to sharply slower growth

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Oil plunges below $29 on prospects of more Iranian crude, China worries

World oil prices slumped more than 6 percent to below $29 a barrel on Friday, as a further fall in the Chinese stock market and the prospect of an imminent rise in Iran's crude exports deepened fears of a longer supply glut. The slump was not over yet, some analysts warned, as the lifting of sanctions on Iran opens the door to a wave of new oil. …

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Oil plunges below $29 on prospects of more Iranian crude, China worries