Brad “SlICE” Wice

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Japanese trading houses to cut investments, step up asset sales | Reuters

TOKYO (Reuters) - Japan’s big trading houses, stung by large asset writedowns in the wake of the global commodities slump, plan to step up asset sales and wind back investment spending by up to $10 billion over the next three years.<p>The changes will mean reduced spending on energy and minerals …

Oil

Brazil risks losing $1.7 billion with payroll tax bill changes | Reuters

BRASILIA (Reuters) - The Brazilian government’s proposal to roll back tax breaks as part of its austerity drive is being diluted in Congress and the country could lose 5 billion reais ($1.7 billion) in tax revenue this year, the lawmaker drafting the changes said on Thursday.<p>Leonardo Picciani, …

Brazil

Treasury yields fall, dollar slips after soft U.S. data | Reuters

NEW YORK (Reuters) - Treasury yields dropped and the dollar eased on Friday following a stabilization in European government bonds and another batch of weak U.S. data that raised expectations the Federal Reserve will need to wait longer to hike interest rates.<p>Traders work on the floor of the New …

Economics

Lawsuits put heat on Wells Fargo, but investors barely notice

It's no secret that<p>Wells Fargo& Co.branches create a high-pressure sales environment for employees — one in which the threat of being fired weighs heavily on front-line bankers given quotas for new accounts, cards and credit lines.<p>Indeed, Wells Fargo executives are candid about the demands they …

Finance

China to invest $50bn in Brazil infrastructure

<b>China is planning to invest up to $50bn (£32bn) in Brazil for new infrastructure projects.</b><p>The deal is due to be signed by banks from both countries during a visit by Chinese Prime Minister Li Keqiang to Brazil next week.<p>The money will go towards building a railway link from Brazil's Atlantic coast …

US oil production 'important' amid clean energy transition: Obama

Obama's administration gave the petroleum giant a green light three days ago to explore the Chukchi Sea near Alaska -- as long as the Anglo-Dutch firm has the correct permits from the agencies that regulate the environment and marine mammal health.<p>Environmental groups oppose the drilling due to the …

Oil & Gas Industry

Uber accused of stealing trade secrets

A lawsuit against the ride-hailing company alleges the original technology used for its app was ripped off from another fledgling startup.<p>Uber, which is facing lawsuits from drivers, passengers and regulators over its ride-hailing service, is now being accused of stealing trade secrets from a man …