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Ministers laud strong start to OPEC, non-OPEC oil output cuts

VIENNA OPEC and non-OPEC countries have made a strong start to lowering their oil output under the first such pact in more than a decade, energy ministers said on Sunday as producers look to reduce oversupply and support prices.

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Recent Business News

U.S. bankers tell Europeans to think positively on Trump

DAVOS, Switzerland U.S. bankers, buoyed by a resurgence in profits, are advising their counterparts in Europe to think positively about the new administration of U.S. President-elect Donald Trump.

Jan 20 2017

U.S. department stores steady profitability boat even as sales slide

CHICAGO U.S. department store chains, hit by slowing sales for more than two years, have used layoffs, store closings and cutbacks to maintain one aspect of stability: profit margins.

Jan 20 2017

Morgan Stanley, Citi plan Brexit job moves: sources

LONDON/FRANKFURT U.S. banks Morgan Stanley and Citigroup have identified many of the roles that will need to be moved from Britain following its exit from the European Union, sources involved in the processes told Reuters.

Jan 20 2017

U.S. bankruptcy court judge OKs $425 million for Avaya loan

NEW YORK A U.S. bankruptcy court judge granted Avaya Inc approval on Friday to tap $425 million of the $725 million loan proposed to carry the telecommunications company through its restructuring, funds the company said were essential to continue operations.

Jan 20 2017

Morgan Stanley CEO James Gorman's 2016 pay up 7 pct to $22.5 million

Morgan Stanley Chief Executive James Gorman's overall pay rose 7 percent in 2016 as the Wall Street bank's stock soared and it edged closer to hitting a key profitability target.

Jan 20 2017

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