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U.S. crude down 10 percent post-OPEC, Brent breaks below $70

NEW YORK (Reuters) – U.S. crude tumbled 10 percent in its biggest one-day drop in more than five years on Friday, and benchmark Brent broke below $70 a barrel, as OPEC’s decision not to cut output sent oil traders and … Continue reading

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Exclusive: Einhorn

BOSTON (Reuters) – Superstar investor David Einhorn is raising cash for the first time since 2012 following three straight years of lagging performance – and some customer redemptions from his $10 billion hedge fund, Greenlight Capital. Einhorn has delivered an … Continue reading

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German pilots union says fresh strikes imminent at Lufthansa

FRANKFURT (Reuters) – German pilots union VC said late on Friday that talks with carrier Deutsche Lufthansa (LHAG.DE) over early retirement benefits have broken down and that new strikes are possible any time. “From now, strike action is to be … Continue reading

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Lawsuit accuses Wells Fargo of biased lending in Chicago area

(Reuters) – Wells Fargo Co was sued on Friday by Cook County, Illinois, which accused the largest U.S. mortgage lender of targeting black, Hispanic and female borrowers with predatory and discriminatory lending in the Chicago area. The lawsuit is the … Continue reading

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Fukushima workers still in murky labor contracts: Tepco survey

TOKYO (Reuters) – The number of workers at Japan’s Fukushima nuclear plant on false contracts has increased in the last year, the station operator said, highlighting murky labor conditions at the site despite a pledge to improve the work environment. … Continue reading

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Poor performance catching up with active stock fund managers

BOSTON (Reuters) – Stock-picking fund managers are testing their investors’ patience with some of the worst investment returns in decades. With bad bets on financial shares, missed opportunities in technology stocks and too much cash on the sidelines, roughly 85 … Continue reading

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OPEC inaction halts Europe rally; dollar firms

TOKYO (Reuters) – Oil prices seized the Asian spotlight on Friday, as related shares and currencies plunged in the wake of OPEC’s decision to refrain from cutting output despite a supply glut. With U.S. markets shut on Thursday for the … Continue reading

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Japan may expand air bag recalls; worried about impact on industry

TOKYO (Reuters) – Honda Motor (7267.T) and Mazda Motor (7261.T) may have to recall another 200,000 cars in Japan to replace Takata Corp (7312.T) air bags if Takata complies with a U.S. order to recall cars across the United States … Continue reading

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Another Ex-Dewey Partner Files for Bankruptcy

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Oil slumps to four-year low as OPEC shuns output cut

LONDON (Reuters) – Oil hit four-year lows around $70 a barrel on Thursday and commodity currencies were sent tumbling, as OPEC resisted the temptation to cut back production following the more than 30 percent plunge in prices since June. Asked … Continue reading

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