By Nicole Jao NEW YORK (Reuters) – Fuelmakers in California could face more headwinds next year as new legislation takes effect and refining margins remain weak, the U.S. Energy Information Administration (EIA) said on Monday. WHY IT IS IMPORTANT California, the most populous U.S. state, consistently faces some of the nation’s highest average gasoline prices, …

California law, refinery exit reflect ongoing fuel market challenges, EIA says Read More »

(Reuters) – Barington Capital and Thor Equities urged Macy’s to create a real estate unit and consider options for its Bloomingdale’s and Bluemercury chains after building a position, the activist investor group said on Monday without disclosing their stake. The group said Macy’s board lacks the “knowledge, vision and desire” to extract the maximum value …

Activist investor group pushes Macy’s to consider options for Bloomingdale’s Read More »

By Victoria Waldersee and Christina Amann WOLFSBURG, Germany (Reuters) -Volkswagen and its unions were far from finding common ground on tackling a crisis at its German plants but held talks on Monday that both sides described as constructive, as record numbers of the carmaker’s workers went on strike across the country. “After today’s round it …

VW, unions hold ‘constructive’ talks, but no solution in sight Read More »

(Reuters) -Oracle missed Wall Street expectations for second-quarter revenue and adjusted profit on Monday, hit by stiff competition and softer-than expected spending on its database and cloud services as enterprise clients slash budgets amid an uncertain economy. Shares of the company were down over 7% in extended trading. Despite seeing healthy growth in its cloud …

Oracle misses quarterly results estimates on stiff cloud competition Read More »

By Echo Wang (Reuters) -Wall Street’s main indexes closed lower on Monday, driven by a drop in AI leader Nvidia that weighed on tech stocks, as investors looked ahead to a crucial inflation report set for later this week. Nvidia fell 2.5% after China’s market regulator launched an investigation into the chipmaker over suspected violation …

Wall Street closes down as tech stocks fall Read More »

By Timour Azhari DAMASCUS (Reuters) – The Sunni-led Islamist rebels who toppled Syria’s Bashar al-Assad met elders in the former president’s Alawite hometown on Monday and received their support, in what residents said was an encouraging sign of tolerance from the country’s new rulers.  How the rebels treat the sizeable Alawite population, who widely backed …

In Assad’s once loyal hometown, Syria’s rebels win statement of support Read More »