investment

As world markets drop, Fed officials try to shake it off

SOMERSET, N.J./SAN FRANCISCO (Reuters) – As U.S. stock indexes dropped in volatile trading and oil crashed below $30 a barrel on Friday, Federal Reserve officials stuck to a well-worn script: day-to-day financial market swings do not drive monetary policy. At the same time…

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As world markets drop, Fed officials try to shake it off

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China’s economy grew by around 7 percent in 2015, services made up half of GDP – Premier

China's gross domestic product (GDP) totaled more than $10 trillion in 2015 and the economy grew by around 7 percent, with the services sector accounting for half of GDP, Premier Li

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China’s economy grew by around 7 percent in 2015, services made up half of GDP – Premier

investment

Citigroup, Wells Fargo gird for loan losses as oil price dives

Wells Fargo & Co raised provisions against soured assets by more than 70 percent, nearly half of them for oil and gas loans, to ensure it is covered should prices stay at current levels for the rest of the year. The San Francisco-based bank, a major lender to the U.S. energy industry, said it and other banks were talking to borrowers, including production companies and oil services firms, about how to navigate the crunch. Citigroup Inc set aside $250 million to cover losses related to its energy portfolio …

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Citigroup, Wells Fargo gird for loan losses as oil price dives

investment

Bond King musical chairs: Gundlach replaces Gross on Barron’s Roundtable

By Jennifer Ablan NEW YORK (Reuters) – In recent years, bond investor Jeffrey Gundlach has been outperforming his rival Bill Gross. Now, Gundlach has replaced Gross on a high-profile investor panel. Weekly financial magazine Barron's said on Saturday that Gross decided to quit its Barron's Roundtable.

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Bond King musical chairs: Gundlach replaces Gross on Barron’s Roundtable

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Halliburton refiles bid for EU approval of $35 billion Baker Hughes buy

U.S. oil services provider Halliburton Co has refiled a request for EU antitrust approval of its $35 billion bid for smaller rival Baker Hughes , four months after regulators rejected an earlier application because of insufficient data. The European Commission will decide by Jan. 12 whether to clear the deal or open a full investigation…

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Halliburton refiles bid for EU approval of $35 billion Baker Hughes buy

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Musk’s Tesla faces German battle over battery-powered homes

By Vera Eckert and Christoph Steitz FRANKFURT (Reuters) – If Elon Musk's vision of millions of households producing all their own power becomes a reality, it will probably happen first in Germany. The South African-born entrepreneur's company Tesla, best known for its electric cars, sparked global interest in the idea of…

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Musk’s Tesla faces German battle over battery-powered homes

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HSBC whistleblower Falciani sentenced to five years in prison

(Reuters) – Herve Falciani, an ex-employee of HSBC's Geneva private bank who leaked information on clients and their tax situation, has been sentenced to five years in prison for aggravated industrial espionage, the bank said on Friday. HSBC said it welcomed the ruling on Falciani, a 43-year old French citizen …

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HSBC whistleblower Falciani sentenced to five years in prison

investment

Exclusive: Lazard works with Sanofi on $12.7 billion animal health unit deal – sources

By Pamela Barbaglia, Olivia Oran and Arno Schuetze LONDON/NEW YORK/FRANKFURT (Reuters) – Investment bank Lazard is working with Sanofi's management to prepare a sale or listing of its Merial animal health unit, aiming to land the leading advisory job for the deal, which could value the business at up 12 billion euros ($12.7 billion), sources familiar with the matter said. Lazard is expected to win the role for the so-called dual-track process having helped Sanofi's management in the …

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Exclusive: Lazard works with Sanofi on $12.7 billion animal health unit deal – sources

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