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Monday, August 28, 2017

Oil markets roiled as Harvey hits U.S. petroleum industry

LONDON (Reuters) - Oil markets were roiled on Monday after Tropical Storm Harvey wreaked havoc along the U.S. Gulf Coast over the weekend, crippling Houston and its port, and knocking out several refineries as well as some crude production.

Uber picks Expedia's Dara Khosrowshahi as new CEO: sources

(Reuters) - Uber Technologies Inc [UBER.UL] chose Dara Khosrowshahi, the chief executive of travel company Expedia Inc, as its chief executive on Sunday, according to two sources with knowledge of the matter, handing him the challenge of leading the ride-services company out of a nearly year-long crisis.

GE shifts strategy, financial targets for digital business after missteps

NEW YORK (Reuters) - General Electric Co wants its industrial software business to cut costs and lift profits next year under new chief executive John Flannery, and is considering expanded partnerships and the possible sale of some equity in the unit, according to people familiar with the business.

Gasoline soars, dollar weakens as Tropical Storm Harvey rages

LONDON (Reuters) - U.S. gasoline futures jumped to two-year highs while an already weak dollar hit 16-month lows against a basket of currencies on Monday as Tropical Storm Harvey pummelled the heart of the U.S. energy sector and raised concerns about the economy.

Futures flat as Hurricane Harvey weighs on oil, dollar

(Reuters) - U.S. stock index futures were little changed on Monday as Tropical Storm Harvey barreled into the Texas coast, the heart of the U.S. energy sector, raising concerns about the impact of the storm on the economy and piling more pressure on the dollar, which hit 16-month lows against a basket of currencies.

Western Digital group finalizing $17 billion deal for Toshiba chip unit: source

TOKYO (Reuters) - A consortium led by Western Digital Corp is close to an agreement to buy Toshiba Corp's $17.4 billion chip business, with the U.S. firm's CEO in Tokyo to finalize the long and contentious talks, a person familiar with the matter said.

CBS agrees to buy embattled Australian customer Ten Network

SYDNEY (Reuters) - CBS Corp , the United States' most-watched television network, on Monday said it plans to buy its biggest customer in Australia, Ten Network Holdings Ltd , and launch its streaming service in the country.

Harvey throws a wrench into U.S. energy engine

HOUSTON (Reuters) - A hurricane in the heart of the U.S. energy industry is set to curtail near-record U.S. oil production for several weeks, with the impact expected to reverberate throughout the country and across international energy markets.

Thousands of rail workers back at Buffett's BNSF as volumes rise

SEATTLE (Reuters) - BNSF Railway Co has called back roughly 4,000 of the 5,000 workers who were furloughed across its system last year, reflecting stronger volumes of coal, grain and intermodal containers and trailers, a spokesman said.

Home improvement retailers rise in premarket trading after Harvey

NEW YORK (Reuters) - Shares of U.S. home improvement retailers rose in premarket trading on Monday as Tropical Storm Harvey was set to dump more rain on Houston, Texas, intensifying flooding for the fourth-largest U.S. city.