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U.S. economy hits soft patch in fourth quarter as inventories, trade weigh

By Lucia Mutikani WASHINGTON (Reuters) – U.S. economic growth braked sharply in the fourth quarter as businesses stepped up efforts to reduce an inventory glut and a strong dollar and tepid global demand weighed on exports. Gross domestic product increased at a 0.7 percent annual rate, the Commerce Department said on Friday in a report that showed a further cutback in investment by energy firms grappling with lower oil prices. Growth in consumer spending also slowed as unseasonably mild weather cut into

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U.S. economy hits soft patch in fourth quarter as inventories, trade weigh

Oil retreats after rising on hopes of Russia, OPEC cooperation

Crude oil futures fell around 1 percent in Asian trading on Thursday, eroding gains of nearly 3 percent made in the previous session after Russia held out the possibility of cooperating with OPEC to control global oversupply. Falls were curbed by a weaker dollar following the Federal Reserve's decision to keep its overnight interest rate unchanged and the release of a statement suggesting concern…

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Oil retreats after rising on hopes of Russia, OPEC cooperation

EBay’s disappointing forecast fuels stock decline

EBay Inc forecast weaker-than-expected revenue and profit for the current quarter and full year, as the e-commerce company struggles against a strong dollar while trying to revamp its core marketplace business. The online retailer, which faces intense competition from e-commerce giant Amazon.com Inc, has also been hit by brick-and-mortar rivals like Wal-Mart Stores Inc that are aggressively boosting their online presence. Under its new chief executive Devin Wenig,

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EBay’s disappointing forecast fuels stock decline

Takata prepares CEO exit over air bag safety scandal: sources

Takata Corp is preparing the ground for the exit of its chief executive, two people close to the Japanese air bag maker said, as pressure builds on a company reeling from the auto industry's biggest recall. Takata has been under fire for almost two years over defective air bags that can explode with excessive force and shoot shrapnel inside the car – a problem that has ballooned…

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Takata prepares CEO exit over air bag safety scandal: sources

In U.S. oil capital Houston, no cheap fuel bonanza for airlines

While airlines are in no rush to pass on fuel savings to passengers brought by the collapse in oil prices, the Houston travel market has left them little choice. Airlines serving the U.S. oil capital have resorted to steep discounts to lure newly budget-conscious energy executives back into the air, according to an analysis of ticket prices provided exclusively to Reuters. Crude'

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In U.S. oil capital Houston, no cheap fuel bonanza for airlines

Fed keeps rates unchanged, wary eye on global markets

The U.S. Federal Reserve kept interest rates unchanged on Wednesday and said it was “closely monitoring” global economic and financial developments, signaling it had accounted for a stock market selloff but wasn't ready to abandon a plan to tighten monetary policy this year. Fed …

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Fed keeps rates unchanged, wary eye on global markets

Hedge funds betting against China eye ‘Soros moment’

By Patrick Graham LONDON (Reuters) – A handful of mainly U.S.-based macro hedge funds have led bets against China's yuan since late last year and the coming weeks should tell how right they are in predicting a devaluation…

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Hedge funds betting against China eye ‘Soros moment’

Lockheed seals services deal with Leidos, forecasts profit below view

By Andrea Shalal WASHINGTON (Reuters) – Lockheed Martin Corp on Tuesday announced a $5 billion tax-free deal to combine its information systems and government services business with Leidos Holdings Inc , and forecast a lower-than-expected profit in 2016. Lockheed's shares fell as much as 5 percent amid confusion over future prospects for the Pentagon's No. 1 supplier, although the stock recovered after Lockheed officials reassured analysts they still expected rising sales and earnings in coming years. Lockheed was

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Lockheed seals services deal with Leidos, forecasts profit below view

DuPont doubles down on cost cuts ahead of Dow Chemical merger

(Reuters) – Chemicals and seed producer DuPont's quarterly profit topped analysts' estimates as the company intensifies its cost-cutting efforts ahead of its merger with Dow Chemical Co . DuPont said on Tuesday it was looking to cut its costs in 2016 by $730 million from 2015-levels. The company's previous cost-reduction plan, launched under former CEO

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DuPont doubles down on cost cuts ahead of Dow Chemical merger

Energy earnings will hint at who survives crude’s rout

By Rodrigo Campos NEW YORK (Reuters) – As crude prices crater, threatening a sizeable number of U.S. oil producers who are predicted to fail under continued global oil doom, the current earnings season will be an important window into who will be standing …

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Energy earnings will hint at who survives crude’s rout

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