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Levi Strauss valued at $6.6 billion as IPO prices above target

7 hours ago DieselGasoil Comments Off on Levi Strauss valued at $6.6 billion as IPO prices above target
(Reuters) – Levi Strauss & Co fetched a higher price than expected in its initial public offering (IPO) on Wednesday, selling $623.3 million in shares as the U.S. jeans maker looks to return to the stock market after 34 years as a family-owned company. Jeans trousers are displayed at a Levi Strauss store in New Read More

'Perfect storm' of tight supply & global demand drives oil prices higher

17 hours ago DieselGasoil Comments Off on 'Perfect storm' of tight supply & global demand drives oil prices higher
Oil prices have risen far higher and faster than most analysts expected, with major banks now changing their forecasts as a perfect storm of factors forms around oil markets. “The latest Brent rally has brought prices to our peak forecast of $67.5/bbl, three months early,” Goldman Sachs wrote in a note. The investment bank said Read More

General Electric CEO sets low 2019 profit targets, vows better from 2020

6 days ago DieselGasoil Comments Off on General Electric CEO sets low 2019 profit targets, vows better from 2020
(Reuters) – General Electric Co Chief Executive Larry Culp on Thursday set conservative profit targets for this year and staked his reputation on hitting them and doing better in 2020 and beyond, igniting a rally in the stock. FILE PHOTO: The logo of U.S. conglomerate General Electric is pictured at the company’s site of its Read More

Wells Fargo CEO's pay raise draws rare Fed response

1 week ago DieselGasoil Comments Off on Wells Fargo CEO's pay raise draws rare Fed response
(Reuters) – Wells Fargo & Co gave Chief Executive Tim Sloan a 5 percent pay raise for 2018, prompting the Federal Reserve to release a statement saying that it does not sign off on executive pay. Wells Fargo CEO Tim Sloan testifies before a House Financial Services Committee hearing titled: “Holding Megabanks Accountable: An Examination Read More

JPMorgan's Chase to open up to 90 branches in new U.S. markets

1 week ago DieselGasoil Comments Off on JPMorgan's Chase to open up to 90 branches in new U.S. markets
FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/Files/File Photo (Reuters) – JPMorgan Chase & Co’s consumer banking unit said on Wednesday it will open up to 90 branches in new U.S. markets, in the face of intensifying competition Read More

Wells Fargo CEO avoids major stumble at heated congressional hearing

1 week ago DieselGasoil Comments Off on Wells Fargo CEO avoids major stumble at heated congressional hearing
WASHINGTON (Reuters) – Democratic and Republican lawmakers on Tuesday pressed Wells Fargo & Co Chief Executive Tim Sloan for proof the bank has put a string of consumer abuse scandals behind it at a tense congressional hearing that saw Sloan firmly on the defensive. Wells Fargo’s CEO Tim Sloan is sworn in before testifying in Read More

Shell says it can be world's top power producer and profit

1 week ago DieselGasoil Comments Off on Shell says it can be world's top power producer and profit
By Kevin Crowley, Alix Steel and Kelly Gilblom on 3/12/2019 HOUSTON, NEW YORK and LONDON (Bloomberg) — Royal Dutch Shell plans to become the world’s biggest power company within 15 years, a move that suggests it sees climate change as a bigger threat to its business than electricity’s historically weak returns. The world’s No. 2 Read More

Worried about next downturn? U.S. credit funds may offer early clues

1 week ago DieselGasoil Comments Off on Worried about next downturn? U.S. credit funds may offer early clues
NEW YORK (Reuters) – It seemed like an opportunity a lender would not want to miss. FILE PHOTO: An employee of a bank counts US dollar notes at a branch in Hanoi, Vietnam May 16, 2016. REUTERS/Kham The loan paid 10.25 percent interest which would go up if a benchmark rose. The borrower was Trident Read More

Levi Strauss seeks $6.2 billion valuation in market return

1 week ago DieselGasoil Comments Off on Levi Strauss seeks $6.2 billion valuation in market return
(Reuters) – Levi Strauss & Co said on Monday it expects to raise as much as $587 million through an initial public offering (IPO), giving it a value of up to $6.17 billion as the jeans maker returns to the market after three decades. FILE PHOTO: The label of a Levi’s denim jacket of U.S. Read More

Wall Street drops on paltry jobs growth, global slowdown worries

2 weeks ago DieselGasoil Comments Off on Wall Street drops on paltry jobs growth, global slowdown worries
(Reuters) – Wall Street’s main indexes fell on Friday, after data showed U.S. job growth almost stalled in February, adding to concerns of a slowdown in global growth sparked by weak China export data and a prolonged slowdown in the eurozone. The U.S. economy added just 20,000 jobs in February, compared with expectations of non Read More