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Tuesday, January 13, 2015

Business Today: Oil prices down again as UAE defends production hold

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Oil prices down again as UAE defends production hold
LONDON (Reuters) - Crude oil prices hit their lowest in almost six years on Tuesday in a market readying for further falls, as a big OPEC producer stood by the group's decision not to cut output to tackle a supply glut.
Futures higher after two-day decline, Alcoa results
NEW YORK (Reuters) - U.S. stock index futures climbed on Tuesday after the S&P 500 fell for a second consecutive session, as financial results from Alcoa helped ease some investor skittishness about the corporate earnings season.
China December trade more robust than expected, but concerns linger
BEIJING/SHANGHAI (Reuters) - China's December trade data beat expectations as demand from a stronger U.S. economy helped offset weakness in Europe and Japan, while Chinese bargain-shopping in commodities markets put a floor under sliding imports.
Airbus says beats Boeing in 2014 order race
TOULOUSE, France (Reuters) - Airbus clung to the top spot in commercial plane orders by confirming it outsold Boeing last year, while failing to close a gap in deliveries that leaves its U.S. rival as the world's largest plane manufacturer for the third year running.
Citigroup quietly scales back in consumer banking
NEW YORK (Reuters) - Citigroup Inc has been quietly scaling back its consumer banking presence in some of the world's major cities, pulling out from markets where it does not have enough branches to be competitive.
U.S. insurer MetLife to sue regulators over 'systemic' tag
WASHINGTON (Reuters) - MetLife said it would file on Tuesday a lawsuit against regulators subjecting it to tougher oversight, challenging their verdict the firm harbors enough risk to endanger the financial system in a crisis.
Exclusive: Facebook, Xiaomi discussed possible investment in the Chinese smartphone maker - sources
HONG KONG/BEIJING (Reuters) - Mark Zuckerberg and Xiaomi Inc CEO Lei Jun discussed a potential investment by Facebook in China's top smartphone maker ahead of its $1.1 billion fundraising last month, but a deal never materialized, several people with knowledge of the matter told Reuters.
Russell Stover buy boosts Swiss chocolate maker Lindt
ZURICH (Reuters) - The takeover of U.S. candymaker Russell Stover will fuel growth for Swiss chocolate maker Lindt & Spruengli after strong demand for premium products boosted sales in 2014, the company said on Tuesday.
Investors may wait longer for higher dividends from U.S. banks
NEW YORK (Reuters) - Investors had hoped that the biggest U.S. banks would boost dividend payments substantially in 2015, but recent events including slumping oil prices will make it harder for banks to pay out more.
European banks face $52 billion in litigation costs: Morgan Stanley
LONDON (Reuters) - Royal Bank of Scotland and Barclays may have to pay some of the biggest bills from an estimated $52 billion in fines and other litigation costs facing Europe's banks in the next two years, Morgan Stanley analysts said.
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