GE posts net loss on finance sale; industrial profit rises

General Electric Co (GE.N) said on Friday its quarterly industrial profit rose 9 percent helped by improved profit margins, as the U.S. conglomerate shifts more to manufacturing of jet engines, turbines and other big-ticket products and splits from finance.


Oil slips below $64 as ample supplies weigh

Oil eased below $64 a barrel on Friday as evidence this week of rising crude supplies from OPEC members outweighed signs of a slowdown in U.S. output and Middle East tensions.

Oil Well

Volkswagen CEO Winterkorn to stay in defeat for chairman

Martin Winterkorn will stay on as chief executive of Volkswagen (VOWG_p.DE), the German carmaker said on Friday, in an unprecedented defeat for its powerful chairman, Ferdinand Piech.




Jobs & Career News

Bank of America profit beats expectations as legal expenses fall

Bank of America

Bank of America Corp, the No. 2 U.S. bank by assets, posted a first-quarter profit, narrowly beating analysts' estimates, as legal costs fell steeply and the bank earned more from mortgage lending and investment and brokerage services.

Oil rises on Middle East, U.S. output, but IEA report caps gains

Oil Rigs

Brent crude oil prices rose on Wednesday amid tension in the Middle East and signs of a dip in U.S. production, but gains were capped by a report from the International Energy Agency (IEA) indicating that supplies would take longer to tighten than previously expected.

Oil above $58 on U.S. shale output report, Mideast

Oil Field

Crude oil rose on Tuesday after a forecast that U.S. shale oil output would record its first monthly decline in more than four years and on tension in Yemen, where top oil exporter Saudi Arabia is embroiled in a civil war.

JPMorgan profit rises as fixed-income trading rebounds


JPMorgan Chase & Co, the biggest U.S. bank by assets, reported a 12.2 percent rise in quarterly profit as revenue from fixed-income trading rebounded.

Nokia in talks to buy Alcatel-Lucent; France wary about jobs

A corporate logo is displayed at the Nokia flagship store in Helsinki September 29, 2010.

Nokia Oyj (NOK1V.HE) is in talks to buy smaller telecom equipment maker Alcatel-Lucent (ALUA.PA), a deal that would combine the industry's two weakest players but could pose challenges in cutting costs and overcoming political opposition.

European Union

EU prepares rules for tackling failed financial firms outside banking

The European Union is looking at creating rules on how to deal with financial firms outside the banking industry that run into trouble, including clearing houses, insurers and asset managers, the EU's financial services chief said on Friday.

Federal Reserve

Fed may allow banks to use muni bonds to meet liquidity rules: WSJ

The U.S. Federal Reserve may allow big banks to use some municipal bonds to meet new liquidity rules that ensure they have enough cash during a credit crunch, the Wall Street Journal reported, citing people familiar with the matter.

Mark Zuckerberg, Facebook founder and CEO, has been summoned to appear at an Iranian Court

Yahoo and Facebook shares outperform Google in Frankfurt

The Frankfurt-listed shares of Internet companies Yahoo (YHOO.O) andFacebook (FB.O) outperformed those of rival Google (GOOG.O), after media reports thatGoogle would face anti-trust action from the European Union.


McDonald's Japan sees wider losses this year, plans restructuring

The Japanese unit of McDonald's Corp (MCD.N) forecast deeper losses this year and said it would renovate 2,000 stores while closing underperforming outlets, as it struggles to bring back customers after a series of food safety scandals.

Stock Market

Euro zone bond yields sink to historic lows

Euro zone government borrowing costs slid to new lows on Thursday, a day after the European Central Bank pledged to fulfill its 1 trillion euro bond-buying program, although regional stocks took a step back from this week's multi-year peaks.

Iraq's biggest oil refinery shut down, foreign staff evacuated

Brent crude oil hits 2015 high as U.S. output slows

Oil rose more than 3 percent on Thursday, pushing Brent crude to a 2015 high above $63 per barrel on increasing evidence that U.S. production is peaking, balancing a market that has been in heavy oversupply for more than a year.


Unilever first-quarter sales better than expected

Unilever reported better-than-expected sales for the first quarter on Thursday, showing improvement from the hammering it took last year from weak emerging markets including a slowdown in China.

A customer speaks on his mobile phone as he comes out of a Nokia showroom in New Delhi March 28, 2013.

Nokia to buy Alcatel-Lucent

Nokia is to buy Alcatel-Lucent in an all-share deal that values its smaller French rival at 15.6 billion euros ($16.6 billion), building up its telecom equipment business to compete with market leader Ericsson.


Samsung Electronics says demand for Galaxy S6 models much higher than planned for

South Korean tech giant Samsung Electronics Co Ltd (005930.KS) on Wednesday said demand for both the flat-screen and curved-screen models of its new flagship Galaxy S6 smartphones is "much higher" than initially planned for.


Toyota to move Corolla production to Mexico to cut costs: Globe and Mail

Toyota Motor Corp (7203.T), the world's biggest automaker, plans to move production of its Corolla compact cars to a new factory in Mexico from Canada to benefit from lower costs, the Globe and Mail reported, citing sources familiar with the situation.

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