OPEC Spat Over Production Data Grows as Iran Rejects Estimates
OPEC’s struggle with the first step of its new production deal -- agreeing on how much its members are pumping -- deepened as Iran became the third nation to openly question the organization’s data.Output estimates compiled by OPEC’s Vienna-based secretariat are “not acceptable,” Ali Kardor, managing director of National Iranian Oil Co., said Monday in Tehran. Iran is pumping 3.89 million barrels a day, Kardor said, or about 300,000 a day more than OPEC estimated the country produced last month..>> view originalChina Detains 18 From an Australian Casino Company
BEIJING — A senior executive of Australia's largest casino operator and two other Australians have been detained in an investigation of suspected gambling crimes, the Chinese government said Monday, in an apparent crackdown on overseas tours for high rollers.The head of Crown Resorts Ltd.'s VIP International team, Jason O'Connor, is believed to be one of 18 Crown employees being questioned by Chinese authorities, the company said in a statement to the Australian Securities Exchange.The Chine..>> view originalTesla Seeks to Expand Panasonic Partnership With a New Solar Production Deal
Tesla and battery partner Panasonic plan to deepen ties with a new collaboration on solar cell and module production, but only if Tesla’s proposed SolarCity acquisition is approved. Late Sunday, Tesla announced that Panasonic has signed a non-binding letter of intent to manufacture solar cells and modules at SolarCity’s factory in Buffalo, New York, which is slated to be the largest solar panel factory in North America. The plant is expected to employ 1,460 workers and produce up to 10,000 ..>> view originalKyushu Railway on Track for Top-Price IPO
TOKYO—The main railway on Japan’s southern island of Kyushu, a popular destination for Asian visitors, set the price for its initial stock offering at the top of the proposed range on Monday thanks in part to a decent dividend yield. Kyushu Railway Co. set a final price for its planned initial public offering at ¥2,600 ($25) per share, according to regulatory documents filed Monday, meaning the offering will raise ¥416 billion. The...>> view originalPepsi to Cut Sugar and Calories in Drinks in Drive to Tackle Obesity
PepsiCo has set a target for reducing the amount of sugar in its soft drinks around the world as part of a suite of goals aimed at tackling problems ranging from obesity to climate change. Pepsi bottles are seen lined up at a store in New York, U.S. July 5, 2016. REUTERS/Shannon Stapleton The New York-based company will announce on Monday that by 2025 at least two thirds of its drinks will have 100 calories or fewer from added sugar per 12 oz serving, up from about 40 percent now. ..>> view originalPersonal finance: Questions linger for Clinton, Trump on retirement issues
One major hushed topic: a looming retirement crisis with 74 million baby boomers retiring, Social Security in sorry shape and half of people near retirement with only $104,000 or less in retirement savings. According to the U.S. Government Accountability Office, a person with $104,000 would be able to devote about $350 a month toward everything from food to electricity in retirement.Both Clinton and Trump have said they are committed to making sure Social Security remains there for you, but ques..>> view originalHow Caterpillar's Big Bet Backfired
Doug Oberhelman spent his first years as Caterpillar Inc.’s chief executive plowing billions of dollars into factories to build more of its familiar yellow machines and move the company deeper into mining equipment. It was a bold bet, spectacularly mistimed. The world was gripped by a global commodities boom in 2010 when he took charge,...>> view originalLack of new blood casts doubt over Wells Fargo's change plan
NEW YORK Wells Fargo & Co's decision not to introduce new names onto its board or into the ranks of its senior management in the wake of a sales scandal has raised questions about whether it can truly fix the culture which caused its problems.The United States' third-largest bank by assets has been plunged into crisis by revelations that its branch staff created as many as 2 million accounts without customers' knowledge in order to meet internal sales targets.John Stumpf, the bank's chairman a..>> view originalPearson Shares Plummet on Weak US Education Sales
LONDON—Shares in Pearson PLC tumbled on Monday after the educational publisher said weaker-than-expected trading in the higher-education sector in North America weighed down on nine-month sales. The U.S.-focused educational-products specialist, which has undergone a prolonged bout of restructuring including multibillion-dollar asset sales, said revenue fell 7% in the nine months to end-September from the same period last year when...>> view originalBank of America's Profit Rises as Sales and Trading Revenue Climbs
Bank of America Corp. said its third-quarter profit rose 7.3% as the Charlotte, N.C., lender worked to shake off the continued drag of low interest rates. Shares rose 1.3% in premarket trading as both earnings and revenue beat Wall Street estimates. The bank, the second largest in the U.S. by assets, reported a profit of $4.96 billion,...>> view original
Friday, November 4, 2016
OPEC Spat Over Production Data Grows as Iran Rejects Estimates and other top stories.
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