GM halts operations in Venezuela after factory seized
Associated Press 7:37 a.m. ET April 20, 2017 General Motors says it has halted operations in Venezuela after authorities seized a factory.(Photo: Detroit News file)Detroit — General Motors has stopped doing business in Venezuela after authorities took control of its only factory there in what GM called an illegal judicial seizure of its assets.The plant was confiscated on Wednesday as anti-government protesters clashed with authorities in a country that is roili..>> view originalUS bank regulator was suspicious about Wells Fargo's sales practices but did little about it
The nation’s top bank regulator knew about problems with Wells Fargo & Co.’s sales practices as far back as 2010, but did little to put an end to the bank’s abuses, an internal agency review has concluded.The Office of the Comptroller of the Currency said its oversight of the San Francisco bank was lax, and examiners missed numerous opportunities to address the wrongdoing prior to a $185-million settlement with Wells Fargo in 2016, according to a report released Wednesday. Those practices ulti..>> view originalEmirates cuts US flights, blaming Trump administration curbs
DUBAI, United Arab Emirates — Emirates, the Middle East’s largest airline, slashed its flights to the United States by 20 percent Wednesday, blaming a drop in demand on tougher U.S. security measures and Trump administration attempts to ban travelers from some Muslim-majority nations. The Dubai government-owned carrier’s decision is the strongest sign yet that new measures imposed on U.S.-bound travelers from the Mideast could be taking a financial toll on fast-growing Gulf carriers that have e..>> view originalLower Prices at Wal-Mart: Good for Shoppers, Bad for Grocers
Wal-Mart Stores Inc.'s fight to defend its low-cost reputation is helping to extend the longest food-price decline in decades. The world's biggest retailer is investing heavily to lower prices in its U.S. stores, the company's executives say, as competition heats up against Amazon.com Inc. and European deep discounters Aldi and Lidl. Wal-Mart is spending to beat competitors' prices and test strategic price drops, mostly on food and household goods sold at Wal-Mart stores in the Southeast and t..>> view originalVerizon Subscriber Losses Highlight Need for Merger Exploration
Verizon Communications Inc.’s struggles worsened in the first quarter, as a decision to sell unlimited mobile data services came too late to stanch the worst subscriber loss in more than a decade.The largest U.S. wireless carrier shed 307,000 customers in the period, dragging down sales and profit and sending shares sinking to their lowest price since November. The performance marks a dramatic reversal from the first quarter of last year, when Verizon added 640,000 users.The results also show V..>> view originalBefore Ouster, Arconic CEO Accused Hedge Fund Founder of Wild Antics
Photo Klaus Kleinfeld in 2012. Mr. Kleinfeld stepped down as chief executive of Arconic on Monday. Credit Brendan Smialowski/Getty Images In the sleepy world of corporate governance, allegations of extortion are not exactly commonplace. But one of the most contentious showdowns between an activist hedge fund and a public company just got bizarre.When Klaus Kleinfeld stepped down as the chairman and chief executive of Arconic on Monday, the company said his departure was..>> view originalExxon Mobil asked the Treasury for a waiver from sanctions to work with Russia
Secretary of State Rex Tillerson/ AP Photo/Molly Riley Exxon Mobil Corp. applied to the Treasury Department for a waiver from sanctions on Russia in an effort to restart its joint venture with state oil company PAO Rosneft, according to the Wall Street Journal's Jay Solomon and Bradley Olson. The firm applied for a waiver to proceed in the Black Sea, according to people familiar with the matter. The Obama administration previously issued an executive order that impo..>> view originalUS weekly jobless claims up; continuing claims hit 17-year low
By Lucia Mutikani | WASHINGTON WASHINGTON New applications for U.S. jobless benefits rose slightly more than expected last week, but a drop in the number of Americans on unemployment rolls to a 17-year low suggested the labor market continues to tighten.Other data on Thursday showed factory activity in the mid-Atlantic region slowed in April amid a pullback in new orders and shipments. But factories hired more workers and increased working hours, underscoring the labor market's strength. ..>> view originalStarbucks barista loses it over unicorn frappuccino mania
3936 1 Share This Story!Let friends in your social network know what you are reading aboutStarbucks barista loses it over unicorn frappuccino mania Starbucks hopped on the unicorn-food theme earlier this week with its limited-edition Unicorn Frappuccino, and not everyone is happy about it.Sent!A link has been sent to your friend's email address.Posted!A link has been posted to your Facebook..>> view originalSaudi Arabia, Kuwait signal likely extension of oil output cut
ABU DHABI Leading Gulf oil exporters Saudi Arabia and Kuwait gave a clear signal on Thursday that OPEC plans to extend into the second half of the year a deal with non-member producers to curb supplies of crude.Consensus is growing among oil producers that a supply restraint pact that started in January should be prolonged after its initial six-month term, Saudi Energy Minister Khalid al-Falih said."There is consensus building but it's not done yet," Falih told reporters at a conference in the..>> view original
Saturday, May 13, 2017
GM halts operations in Venezuela after factory seized and other top stories.
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