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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

FedEx falls on 2019 forecast cut, multiple brokerages lower price target

12 hours ago DieselGasoil Comments Off on FedEx falls on 2019 forecast cut, multiple brokerages lower price target
(Reuters) – Shares of FedEx Corp fell about 7 percent before the bell on Wednesday after the package delivery company cut its 2019 profit forecast for the second time blaming slowing global trade growth and continued weakness in its international Express business. The profit warning and weak quarterly results have resulted in a slew of Read More

Trial of former Nissan boss Ghosn's expected to start in September: NHK

20 hours ago DieselGasoil Comments Off on Trial of former Nissan boss Ghosn's expected to start in September: NHK
FILE PHOTO: Former Nissan Motor Chairman Carlos Ghosn leaves from his residence in Tokyo, Japan, March 8, 2019, in this photo taken by Kyodo. Mandatory credit Kyodo/via REUTERS TOKYO (Reuters) – The trial of former Nissan Motor Co boss Carlos Ghosn on charges of under-reporting his salary is expected to start in Tokyo in September, Read More

Electric vehicles reducing oil consumption

2 days ago DieselGasoil Comments Off on Electric vehicles reducing oil consumption
By Dan Murtaugh on 3/19/2019 SINGAPORE (Bloomberg) — Electric vehicles are taking ever-bigger bites out of global oil demand, but they haven’t yet caught up with the growing size of the pie. Gasoline and diesel (gasoil) displacement by electric vehicles will grow by 96,000 bpd this year, BloombergNEF said in a report Tuesday. That brings Read More

Overdone? Short EU equities 'most crowded' trade for first time

2 days ago DieselGasoil Comments Off on Overdone? Short EU equities 'most crowded' trade for first time
LONDON (Reuters) – Fund managers have named bearish bets in European equities as the “most crowded” trade in Bank of America Merrill Lynch’s survey for the first time in its history, suggesting sentiment for one of the world’s most shunned markets may rise from here. FILE PHOTO: The German share price index DAX graph is Read More

Oil pulled two ways by economic slowdown, OPEC-led supply cuts

3 days ago DieselGasoil Comments Off on Oil pulled two ways by economic slowdown, OPEC-led supply cuts
SINGAPORE (Reuters) – Oil prices were mixed on Monday, weighed by concerns that an economic downturn may dent fuel consumption, but supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela. FILE PHOTO: An oil pump jack pumps oil in a field near Calgary, Alberta, Canada on July 21, Read More

China's premier says ready to use more policy tools to help economy

6 days ago DieselGasoil Comments Off on China's premier says ready to use more policy tools to help economy
BEIJING (Reuters) – The Chinese government has additional monetary policy measures that it can take to support economic growth this year, and will even cut “its own flesh” to help finance large-scale tax cuts, Premier Li Keqiang said on Friday. Chinese Premier Li Keqiang speaks at a news conference following the closing session of the Read More

HK suspends UBS sponsor license, fines it and others $100 million for IPO failures

6 days ago DieselGasoil Comments Off on HK suspends UBS sponsor license, fines it and others $100 million for IPO failures
HONG KONG (Reuters) – Hong Kong’s securities regulator banned UBS from leading initial public offerings (IPOs) in the city for a year, while fining it and rivals including Morgan Stanley a combined $100 million for due diligence failures on a series of IPOs. FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Read More

Chief executive who built up Avast to retire

7 days ago DieselGasoil Comments Off on Chief executive who built up Avast to retire
(Reuters) – Vince Steckler, the long-time chief executive of Avast who helped to develop the cyber security company, is to retire, overshadowing its first annual results since listing last May. FILE PHOTO: The logo of Avast Software company is seen at its headquarters in Prague, Czech Republic, April 12, 2018. REUTERS/David W Cerny Steckler, 60, Read More