Nordstrom’s comparable sales miss deepens department-store gloom

By Sruthi Ramakrishnan Nordstrom Inc on Thursday became the latest department store operator after Macy's and Kohl's to report weaker-than-expected quarterly same-store sales, underscoring the industry's struggle to attract customers amid a slump in demand for...

Oil To Rise As U.S., China Outline Trade Deal

By Nick Cunningham Oil prices are likely to jump if Trump and Xi can hash out a deal. The U.S. and China have started to sketch out the framework of a comprehensive trade deal, including on some...

Wary of China’s rise, Pompeo announces U.S. initiatives in emerging Asia

Lesley Wroughton, David Brunnstrom WASHINGTON (Reuters) - U.S. Secretary of State Mike Pompeo announced $113 million in new technology, energy and infrastructure initiatives in emerging Asia on Monday, at a time when China is pouring...

Deutsche Bank goes in red as economy signals alarm

Europe’s largest lender by assets, posts $2.9 billion in steep loss in October- December period, blaming the asset writeoffs and lawsuits. Early estimations say German economy may see contraction  Deutsche Bank, Germany’s biggest bank,...

Final version of Trans-Pacific trade deal released, rules pushed by U.S. on ice

Charlotte Greenfield, Colin Packham WELLINGTON/SYDNEY (Reuters) - The final version of a landmark deal aimed at cutting trade barriers in some of the Asia-Pacific’s fastest-growing economies was released on Wednesday, signaling the pact was a...

Man Who Called China’s Boom and Bust Says Use This Rally to Sell

Volatility in the world’s wildest stock market is finally receding. If that’s one argument for buying Chinese shares, Bocom International Holdings Co.’s Hao Hong has a long list of reasons why you shouldn’t. For one, the Shanghai...

Moscow to Introduce Import Duties on US Products in Response to Tariffs

These measures will only affect products that have analogues in Russia, Minister of Economic Development of the Russian Federation, Maxim Oreshkin said. "Because the US continues to apply protective measures in the form of additional import duties on steel...

Nestle’s profits fall by 39% in 2015

Swiss food giant Nestle saw net profits fall by 39% last year to 9.1bn Swiss francs (£6.4bn). The company said the decline was primarily due to the sale in 2014 of part of its stake...

Asian markets are following Wall Street’s lead – but why?

Karishma Vaswani -Asia business correspondent Asian investors typically take their cue from what share prices do in America, as many Asian countries still depend on the US economy for growth. But analysts say the sharp falls,...

Air India: No chicken in cattle class

Air India has stopped serving non-vegetarian meals to its economy class passengers on domestic flights. The cost-cutting measure comes as the government considers ways to privatise the debt-laden national carrier. Critics have suggested the move...

Santander and Deutsche Bank fail US ‘stress tests’

By Joe Miller Business reporter, New York Santander and Deutsche Bank have failed a US "stress test" designed to assess whether lenders can withstand another financial crisis. The review, carried out by the Federal Reserve, gauges...

SoftBank Said Near Closing Technology Fund With $95 Billion

by Dinesh Nair and Giles Turner SoftBank Group Corp. is close to announcing commitments of as much as $95 billion for its technology fund, people familiar with the matter said. The fundraising close will be announced as soon as next...

Saudi Oil Minister Says Aramco Reserves Audit ‘Very Reassuring’

by Vivian Nereim, Wael Mahdi, and Bruce Stanley An audit of state oil producer Saudi Aramco’s crude reserves is showing “very reassuring” results ahead of what could be the world’s biggest share sale when the company sells a stake...

Fed’s Kaplan says too soon to change forecasts to reflect tariff impact

Reuters Staff HOUSTON (Reuters) - Anything that would hurt U.S. relationships with trading partners such as Mexico and Canada would be against the interest of the United States, a U.S. central banker said on Tuesday. “My...

IMF, Buenos Aires Reach Progress in Talks on Providing Aid to Argentina

WASHINGTON (Sputnik) - The International Monetary Fund (IMF) and Argentina reached a progress in the talks on the fund's financial aid to the Latin American state, IMF Managing Director Christine Lagarde said in a...

Energy Equities Hit Hard By Unstable Oil Prices

By ZeroHedge Back in May, we pointed out an interesting observation made by Goldman: unlike late 2015 and most of 2016, when equities demonstrated surprising resilience to the swoon in oil prices, in...

Draghi Declares Victory for Bond-Buying Before It Starts

Mario Draghi is claiming victory for his quantitative-easing program before it even starts. As the European Central Bank president set a start date of Monday for his 1.1 trillion euro ($1.2 trillion) bond-buying program, he...

Samsung Electronics to consider split: Seoul Economic Daily

South Korea's Samsung Electronics Co Ltd (005930.KS) will consider splitting itself into two as proposed by U.S. activist hedge fund Elliott Management, Seoul Economic Daily reported on Monday citing an unnamed source. A split would...

Rosneft under fire over Venezuelan crude purchases

US Secretary of State Mike Pompeo targeted Rosneft earlier this week for defying US sanctions on Venezuela, but major shareholder BP has escaped without a warning. "I haven’t read it, I haven’t heard it, so...

Singapore Civil Servants Win or Lose Bonuses on State of Economy

By Sharon Chen In Singapore, civil-servant bonuses rise and fall with the economy’s performance, and the latest payout shows the island’s growth is cooling. The government declared a year-end bonus this week equal to 0.8...