The world's biggest automakers increasingly are making money by producing luxury models and reaping profits in China and North America, management consulting firm McKinsey & Co said in a report issued on Wednesday.
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Cerberus seeks over $3 billion for private equity fund
Cerberus Capital Management LP is seeking more than $3 billion for its latest flagship private equity fund to invest in distressed assets such as non-performing loans and ailing companies that need to be restructured, people familiar with the matter said.
Investors pulled $7.3 billion from Pimco Total Return Fund in March
Investors yanked $7.3 billion from the Pimco Total Return Fund in March as Pimco's flagship fund continued to reel six months after the exit of co-founder Bill Gross.
Oil falls nearly 4 percent after tentative nuclear deal for Iran
Brent oil fell nearly 4 percent on Thursday after a preliminary pact between Iran and global powers on Tehran's nuclear program, even as officials set further talks in June and analysts questioned when the OPEC member will be allowed to export more crude.
European factories buoyant but weak Asia adds to stimulus calls
Companies struggled in China and much of the rest of Asia in March, suggesting central banks may have to resort to more stimulus, just as factories in the euro zone begin to reap rewards from ultra-easy policy there.
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General Motors Co (GM) (GM.N) on Thursday said its labor costs have risen nearly 50 percent over the past five years in South Korea, where it makes nearly one-fifth of its global output, but that it does not plan to shut any of its four plants there.
U.S. consumer demand for new vehicles began to thaw in March, especially for luxury cars and big trucks, but not every carmaker participated in the uptick.
Shares of Tesla Motors Inc. (TSLA.O) jumped and trading volume surged in the final minutes of trading on Wednesday after the electric car maker issued a press release proclaiming the launch of a new product that turned out to be an April Fool's Day prank.
Flag carrier Oman Air has ordered 20 Boeing Co (BA.N) 737 aircraft as part of a plan to double its fleet to 70 planes by 2020, Chief Executive Paul Gregorowitsch said on Monday.
Citigroup Inc (C.N) is planning to sell Prime Reinsurance Co, a unit created five years ago when the bank spun off its life insurance business, Primerica Inc (PRI.N), Bloomberg reported.
France's Orange (ORAN.PA) should look at all offers for its Dailymotion video-sharing site, French Economy Minister Emmanuel Macron said on Thursday, adding that France was seeking to promote a strong European digital sector.
GoDaddy Inc's shares rose as much as 34 percent in their debut on Wednesday following a $460 million initial public offering, as investors spotted a bargain in a company making a shift from Internet domains to small-business services.
Greece sent an updated list of reforms to lenders on Wednesday to try to unlock financial aid and avoid a default but euro zone officials said more work was needed before new funds could be released.
Secret contracts, covert real-estate deals, scurrying around after nightfall to avoid detection: this is how far big-bank brokers are prepared to go when they plan to go independent.
