TOKYO (Reuters) – Asian shares held near 5-1/2-month highs on Thursday as oil prices rallied over 4 percent overnight thanks to a smaller than expected increase in U.S. crude inventories and abiding hopes that producers may eventually agree ways to ease a global glut.
(Reuters) – Intel Corp said on Tuesday it would cut up to 12,000 jobs globally, or 11 percent of its workforce, as it refocuses its business towards making microchips that power data centers and Internet connected devices and away from the declining personal computer industry it helped found.
A nonprofit group has filed a lawsuit against the city of Los Angeles and the City Council over a developer’s plan to build a 27-floor apartment tower along a residential street in Koreatown.
Fix the City alleges in its lawsuit filed Monday in Los Angeles County Superior Court that the so-called…
(Reuters) – Streaming video service Netflix Inc forecast U.S. and international subscriptions would grow at a slower pace than Wall Street expected this quarter, sending its shares tumbling 8 percent in after-hours trading on Monday.
BRUSSELS/BEIJING (Reuters) – China and other major steel-producing countries failed to agree measures to tackle a global steel crisis as the sides argued over the causes of overcapacity, prompting U.S. criticism of Beijing’s approach and an angry response from Chinese officials.
(Reuters) – Morgan Stanley’s trouble growing revenue in weak markets may prompt management to take further actions to achieve financial goals, Chief Executive James Gorman said on Monday.
CHICAGO (Reuters) – Discount retailer Target Corp has started raising employee wages to a minimum of $10 an hour, its second hike in a year, pressured by a competitive job market and labor groups calling for higher wages at retail chains, sources said.
NEW YORK (Reuters) – As Valeant Pharmaceuticals considers a multibillion-dollar auction to pare down $30 billion in debt, its challenge will be choosing which assets to sell without compromising any of its key businesses, analysts and investment bankers said.
SINGAPORE (Reuters) – Crude futures slipped on Tuesday on a persistent global glut and the failure of a producer meeting at the weekend to rein in the ballooning oversupply, although a sharp drop in output in Kuwait due to an oil worker strike underpinned prices briefly.
TOKYO (Reuters) – Asian share markets rose to five-month highs on Tuesday, taking their cue from gains on Wall Street after a strike in Kuwait helped pull crude oil prices above their prior-session lows.