Nexen Energy, a wholly owned subsidiary of China's CNOOC Ltd (0883.HK), is closing its crude oil trading division following a round of job cuts announced last week, four market sources said on Monday.
Sectors
IBM to share technology with China in strategy shift
IBM Corp will share technology with Chinese firms and will actively help build China's industry, CEO Virginia Rometty said in Beijing as she set out a strategy for one of the foreign firms hardest hit by China's shifting technology policies.
Amazon's Twitch says its site may have been hacked
Amazon Inc's Twitch unit said on Monday there may have been unauthorized access to some of its user account information, according to the live streaming gaming network's official blog.
Italy prosecutors wrap up tax probe into Apple
Italian prosecutors have wrapped up an investigation into allegations U.S. tech giant Apple (AAPL.O) failed to pay corporate taxes to the tune of 879 million euros ($964 million), two sources said on Monday.
Online video site Vessel bets fans will pay for early access
Online video platform Vessel launched its paid subscription service on Tuesday, offering programming at least three days before other websites in a bid to reshape an industry dominated by free content on Google Inc's YouTube.
Latest News
General Motors Co (GM.N) will build its next-generation Chevrolet Cruze small car in Mexico, the company said on Monday. GM will invest $350 million to produce the Cruze at its plant in Coahuila, as part of the $5 billion investment in Mexican plants announced last year. It is the first time the Cruze will be made in Mexico, according to a GM spokeswoman in Mexico, and production will be mainly for the domestic market. The Cruze is currently imported to Mexico from GM's plant in South Korea, she said.
The organizers for Boston's campaign to host the 2024 Olympic Games on Monday said they would not make a final bid to the International Olympic Committee unless a majority of Massachusetts residents support the idea.
Biogen Idec Inc has seen its market value quadruple in three years to more than $100 billion on the back of its successful multiple sclerosis drugs. Now it has new ambitions in its sights.
The health warning on a MarkTen electronic cigarette package is 116 words long. That's much longer than the warnings on traditional cigarette packs in the United States.
The forward guidance issued by the Federal Reserve should gradually evolve back to its "normal" role of communicating the thinking behind policy moves, Cleveland Fed President Loretta Mester told a bankers' conference in Paris on Monday.
Germany's Angela Merkel does not expect talks on Monday with Greek Prime Minister Alexis Tsipras to resolve his differences with the euro zone over Greece's bailout but she does want to hear from him in person about his reform plans, an aide said.
Oil prices declined on Monday, holding near $55 a barrel after Saudi Arabia indicated it was now pumping near a record high of 10 million barrels per day, adding to concerns of global oversupply.
Shares of U.S.-based agribusiness Andersons Inc (ANDE.O) jumped more than 6 percent on Friday, outpacing the sector, after a Bloomberg News report speculated that Glencore PLC (GLEN.L) could be interested in acquiring the company.
U.S. private equity firm Bain Capital LLC plans to acquire Japan Wind Development Co Ltd through a tender offer in a deal worth up to 9.7 billion yen ($81 million), the Nikkei business daily reported on Monday.
