Reuters - Before the Bell

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Monday, November 6, 2017

Oil hits two-and-a-half year peak on Saudi purge, world shares retreat

LONDON (Reuters) - Oil jumped to its highest in over two years on Monday as Saudi Arabia's crown prince cemented his power through a crackdown on corruption, while world shares eased a notch and major currencies traded in tight ranges.

German prosecutors investigate possible Metro insider dealing

DUESSELDORF, Germany (Reuters) - German prosecutors are investigating multiple officials at Metro AG for possible insider trading and market manipulation, they said on Monday.

Pilots' union calls for better conditions at Lufthansa's Eurowings

BERLIN (Reuters) - A German pilots union is calling on Lufthansa's Eurowings to offer better conditions, rejecting a labor agreement that would have allowed the budget carrier to quickly take on former Air Berlin staff on German contracts.

UK financial services watchdog to investigate wholesale insurance brokers

LONDON (Reuters) - Britain's financial services industry regulator is to launch later this week a long-promised investigation into competition in the wholesale insurance broking market, where one top executive has complained of "abusive behavior".

Goldman Sachs, China's CIC to launch up to $5 billion fund: sources

HONG KONG (Reuters) - Goldman Sachs is partnering with sovereign fund China Investment Corp (CIC) to jointly launch an up to $5 billion fund to invest in U.S. manufacturers, according to people familiar with the situation.

Broadcom offers to buy mobile chipmaker Qualcomm for $103 billion

(Reuters) - Communications chipmaker Broadcom Ltd on Monday said it offered to buy smartphone chip supplier Qualcomm Inc for $70 per share or $103 billion in cash and stock, in what would be the biggest technology acquisition ever.

U.S. truck firms accelerate into the merging lane

The consolidation of the U.S. trucking industry is picking up speed, with big trucking companies and private equity funds scooping up smaller firms as a U.S. regulatory mandate is set to go into effect and as drivers push for higher wages.

LSE has made strong case for Aramco listing: UK PM's spokesman

LONDON (Reuters) - The London Stock Exchange has made a "very strong case" for oil company Saudi Aramco to lists its shares in Britain, a spokesman for Prime Minister Theresa May said on Monday after President Donald Trump urged the king of Saudi Arabia to list in New York.

Anthem names industry veteran Gail Boudreaux as new CEO

(Reuters) - Anthem Inc on Monday named industry veteran Gail Boudreaux as its new chief executive, replacing Joseph Swedish, who will step down after more than four years at the helm of one of the largest U.S. health insurers.

Need help to buy a ship or jet? Credit Suisse looks to lure super-rich

LONDON/ZURICH (Reuters) - The leap in assets at Credit Suisse's private bank to a record high this year has been aided by a key plank of the bank's new strategy: lending money to the world's ultra-wealthy.