Global oil market in glut, but not a big enough one for OPEC
OPEC has shifted the goalposts for assessing an overhang in oil inventories, giving the group more room to prolong production cuts, while analysts warn the...
Oil edges up on U.S. stock decline, Mideast tensions
Oil prices nudged higher on Wednesday, supported by a sharp fall in U.S. crude stocks and tensions over Iran....
Hilton quarterly profit beats on steady travel demand
U.S. hotel operator Hilton Worldwide Holdings Inc topped Wall Street estimates for quarterly profit on Wednesday, helped by a steady demand for its rooms in...
Anthem Inc reports 8% rise in quarterly profit
Anthem Inc reported an 8% rise in second-quarter profit on Wednesday as the U.S. health insurer benefited from higher sales of its government-backed health plans....
Hilton quarterly profit rises 20%
Hotel operator Hilton Worldwide Holdings Inc reported an about 20% rise in quarterly profit on Wednesday, driven by an increase in room rates and occupancy....
Philippines’ Jollibee buying Coffee Bean & Tea Leaf in overseas expansion
Jollibee Foods Corp , Philippines’ largest food service network operator, is buying U.S. brand Coffee Bean & Tea Leaf (CBTL) for $100 million as part...
Deutsche Bank suffers $3.5 billion loss on road to reinvention
Deutsche Bank reported a bigger than forecast quarterly loss of 3.15 billion euros ($3.5 billion), underlining the challenges it faces as it attempts to turn...
Daimler vows to cut costs after one-offs bring loss
Luxury carmaker Daimler said it would intensify cost cuts after legal risks for diesel-related issues and the cost of replacing Takata airbags triggered a 1.56...
Uber Freight launches in Germany, taking on local competition
U.S. ride-hailing company Uber is launching a freight platform in Germany, taking on local technology startups in a race to grab a share of Europe’s...
Trade talks keep stocks afloat, weak PMIs sink euro
Global shares crept higher on Wednesday as prospects of fresh China-U.S. trade talks drew a guarded welcome from investors, while dour data on euro zone...