Business

Trump picks Elaine Chao for transportation secretary

The choice is expected to be formally announced later today, according to the New York Times , which says its report is "confirmed by someone with direct knowledge of Mr. President-elect Donald Trump understands the urgency of this need and has called for infrastructure investment, and his team has drawn from "Building to Win" in outlining his vision for a path forward.

Business

Oil deal will mean petrol price rises

Earlier in the session, prices jumped as much as 5.2 per cent to US$54.53 a barrel, the highest level since July 27, 2015. A stable increase in oil prices which is one of the rewards that the deal will produce would most likely contribute positively to the stimulation of the economies of member countries including Nigeria who are presently undergoing challenges.

Business

21st Century Fox in Talks to Buy UK's Sky

Fox advanced 3.7 per cent to $29.69 at 11:15 am in NY after rising as much as 6.2 per cent. Sky, which has formed an independent committee to consider terms of the proposal, said discussions were continuing. He had been CEO of Sky, then known as BSkyB, from 2003 to 2007 and chairman from 2007 to 2012. The bid has been long rumoured since James Murdoch returned as Sky chairman in January this year, an indication that the Murdoch empire might revive its ambition to fully take over the ...

Business

EU starts legal action against 4 states over VW emissions

The UK is one of four countries accused of issuing approvals for VW Group cars and not applying national provisions or penalties, despite the company's use of illegal software. European consumer lobby BEUC praised the action by the EU, however, stating not enough had been done to protect EU citizens. But the Commission lacks the authority to fight Volkswagen.

Business

Italy's Monte dei Paschi denies any ECB notice

Kathleen Brooks, the research director at City Index Direct, said: "Either markets are becoming immune to political risk, or they are taking the view that the Italian issue will be a slow-burner - even if the president can't form a government, he still has 70 days to try".

Business

What are Brokerage Firms Saying About La Quinta Holdings Inc. (NYSE:LQ)?

The consensus estimates had called for $0.16 in EPS and revenue of $532.5 million. During last 5 trades the stock sticks nearly 10.86%. Restoration Hardware's stock dove on Thursday after the home furnishings store lowered its guidance, blaming the election and the delayed delivery of its big catalogs.