Business

BEVERLY HILLS, February 05, (THEWILL) – The Nigerian National Petroleum Corporation (NNPC) and subsidiary, the Nigerian Petroleum Development Company (NPDC) have been indicted by the PricewaterhouseCoopers (PWC), which carried out an extensive forensic audit of the financials of the state-owned...

Oil rose toward $55 a barrel on Thursday, recovering from part of the previous session's slide after China took steps to pour liquidity into the world's second-biggest economy, although traders and analysts said oil's outlook looked weak. Crude snapped a...

Drugmaker Pfizer Inc (PFE.N) said it would buy Hospira Inc (HSP.N) for about $15 billion to gain access to biosimilars, copies of biotech drugs made from living cells. Pfizer's offer of $90 per share represents a premium of 39 percent...

The U.S. trade deficit in December widened sharply to its highest level since 2012 as imports rose despite a lower energy bill, which could see the fourth-quarter growth estimate revised down. The Commerce Department said on Thursday the trade deficit...

Luxury fashion house Ralph Lauren Corp (RL.N) cut its full-year revenue growth forecast for the second time in less than four months, blaming a strong dollar and weak consumer spending. Shares of the company, which also reported lower-than-expected quarterly revenue...

Brent crude oil fell by almost $2 on Wednesday after a new build in U.S. crude stock levels put a global glut back in focus, cutting short a four session rally that pushed prices up to a high of...

China's central bank made a system-wide cut to bank reserve requirements on Wednesday, the first time it has done so in over two years, to unleash a fresh flood of liquidity to fight off economic slowdown and looming deflation. The...

United Parcel Service Inc (UPS.N) on Tuesday reported a slightly lower quarterly profit, eroded by higher costs than expected during a disappointing peak holiday season. The world's largest package delivery company had warned in late January that its profit would...

Oil rose more on Tuesday as BP said it will reduce capital expenditure, adding to cuts in investment in the sector and expectations that output will suffer and start to drain a glut. Oil has gained more than 15 percent...

At tense meetings just days before the first major U.S. refinery strike in 35 years was called on Sunday, union leaders grew increasingly pessimistic about getting a new labor contract and a sizable wage increase. "The chances of there being...