Business articles

Gross, Pimco settle breach-of-contract suit

Former Pimco co-founder and bond guru Bill Gross settled a wrongful termination and breach-of-contract suit against his ex-employer, the two parties said Monday in a joint statement released by Pimco.

Heineken bottles out in Hungary beer row

A row between Heineken and a small Romanian brewer backed by the Hungarian government looked to be over Monday, just days after Budapest threatened to ban the Dutch giant’s famous red star logo.

EU clears merger of US chemicals giants Dow and DuPont

The EU on Monday approved a $130 billion mega-merger of US agri-chemicals giants Dow Chemical and DuPont, paving the way for major consolidation in a sensitive sector for farmers and the environment.

Stock markets drop on Trump tax concerns

Stock markets dropped Monday and the dollar slid against rivals on concerns that the collapse of US President Donald Trump’s repeal of Obamacare could leave him struggling to push through his promised tax-cut and infrastructure spending policies.

China oil giant Sinopec posts 44% jump in net profit

State-owned Chinese energy major Sinopec said 2016 net profit jumped 44 percent, its first annual profit rise in three years, as strong demand and better margins in its downstream refining business helped offset low oil prices.