Exclusive: France’s Sephora to open shops in Iran next year

By Astrid Wendlandt and Pascale Denis PARIS (Reuters) – France's Sephora plans to open several shops in Iran starting next year, becoming one of the first major European specialist cosmetics retailers to directly invest in the country as it emerges from years of economic sanctions. Sephora, part of luxury industry leader LVMH , running around 2,000 outlets worldwide, is keen to build its presence in Iran …

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Exclusive: France’s Sephora to open shops in Iran next year

Largest U.S. banks face $120 billion shortfall under new rule

The requirements are aimed at ensuring the banks, which include Bank of America Corp. , Bank of New York Mellon Corp. , Citigroup Inc. , Goldman Sachs Group Inc. , JPMorgan Chase & Co. , Morgan Stanley , State Street Corp. and Wells Fargo & Co. are able to recapitalize without disrupting markets or requiring

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Largest U.S. banks face $120 billion shortfall under new rule

U.S. retailers push banks to use PINs on credit cards as confusion reigns

By Jim Finkle BOSTON (Reuters) – Some big U.S. retailers are stepping up efforts to use personal identification numbers, or PINs, with new credit cards embedded with computer chips in a bid to prevent counterfeit card fraud. A small band

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U.S. retailers push banks to use PINs on credit cards as confusion reigns

Chevron slashes jobs and spending to weather low oil prices

Chevron Corp is slashing 10 percent of its workforce and sharply paring back its budget, with Chief Executive Officer John Watson giving a downbeat view on Friday of an industry beleaguered by low oil prices. A more than 55 percent decline in crude oil since last year has rippled through the global energy industry, forcing producers and their suppliers to make tough decisions. For Chevron, that means cutting its budget by 25 percent next year by spending less in Australia, Angola and the U.S. Gulf …

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Chevron slashes jobs and spending to weather low oil prices

Weak U.S. data clouds December rate hike possibility

U.S. consumer spending in September recorded its smallest gain in eight months as personal income barely rose, suggesting some cooling in domestic demand after recent hefty increases. The Commerce Department data and another report from the Labor Department on Friday also showed weak inflationary pressures, which would argue against the Federal Reserve raising interest rates at the end of the year

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Weak U.S. data clouds December rate hike possibility