Oil falls to seven year low as OPEC decision stalls rally
New York markets tumbled with oil futures down nearly 6 percent to $37.65 a barrel the lowest since February 2009. Energy stocks led losses while Chevron and Exxon Mobil fell about 3 percent as traders blamed oversupply and no production cut from OPEC. JetBlue and Delta shares rose on cheaper fuel. Chipotle and Office Depot moved sharply on separate news.
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Standard & Poor
Chevron
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Mizuho Securities
Steven Ricchiuto
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Smith & Wesson Holding
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German automakers seek real time car data for maps
Audi BMW and Daimler plan to turn cars into real time sensors feeding HERE map service, purchased from Nokia, to speed up autonomous driving maps and counter rivals Google and Apple. Data will be anonymized and include weather indicators from windscreen wiper use. smartphones and traffic lights will supplement data.
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Keurig to be sold for nearly 14 billion by JAB Holding
Keurig Green Mountain, maker of single cup coffee machines, agrees to be sold to JAB Holding Co. for about 14 billion dollars. JAB will keep Keurig independent and headquartered in Waterbury Vermont while expanding its growing coffee empire including Jacobs Douwe Egberts and other brands. Coca-Cola, Keurig's largest shareholder with 17.4 percent, supports the deal as Keurig's sales soften with K cups and machines.
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Coca-Cola
Coca-Cola Co
FTC moves to block Staples Office Depot merger
The FTC seeks to block the Staples Office Depot tie up arguing it would lessen competition in the office supplies market. Staples and Office Depot vow to fight, stocks dropped sharply as the agency cited reduced competition and potential price increases.
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