News Headlines - 13 January 2016

Iran holds 10 American sailors; U.S. expects their prompt return | Reuters

Iran detained 10 U.S. sailors aboard two U.S. Navy boats in the Gulf on Tuesday in an incident that rattled nerves days ahead of the expected implementation of a landmark nuclear accord with Tehran.

Iran releases U.S. Navy sailors

Iran said Wednesday that it released the 10 sailors from two small U.S. Navy boats who were detained Tuesday after crossing into Iranian waters, the state-affiliated Islamic Republic News Agency said.

Stocks Fall Sharply Again on Energy Concerns; Dow Off 364 Points - NBC News

Major U.S. stock indices fell sharply again Wednesday on concerns about an oversupplied energy market, with the Dow Jones industrial average shedding more than 350 points, or more than 2 percent.

GE to Cut 6,500 Jobs in Europe at Former Alstom Businesses - WSJ

General Electric Co. said on Wednesday it plans to cut 6,500 jobs in Europe as it moves to integrate Alstom SA’s power business and push through cost savings from the acquisition.
Roughly half of the cuts will fall in France, Germany and Switzerland, the company said, with other reductions scattered across the continent.

Sumitomo and Sherritt hit by nickel slide - FT.com

On Wednesday, Sherritt said it expects to take an impairment loss of $1.1bn on the Ambatovy mine as prices are at their lowest since 2003. Sumitomo announced a Y77bn ($651m) impairment charge for the nickel project and withdrew its full-year earnings guidance. It said additional charges may have to be taken after it reviews all its main resource projects.








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