Global Glance: Oil price bounces off lows, PepsiCo 1Q sales slip

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Here are today’s top business headlines from across the nation and world:

As oil price bounces off lows, global stocks recover ground

LONDON (AP) — European stock markets recouped losses Monday as oil prices bounced back from earlier lows. The main stock indexes in Europe had tracked their Asian counterparts sharply lower at the open after crude prices tanked following the inconclusive talks in Doha, Qatar, but a subsequent oil price recovery helped shore up sentiment.

While the Doha talks’ collapse set a downbeat tone for the start of the week, investors have other matters to look forward to, including more quarterly U.S. corporate earnings reports and the next policy meeting of the European Central Bank. Read more

Lower US supply to underpin oil price despite talks failure

LONDON (AP) — The failure by oil-rich nations to freeze output hit energy prices Monday but many analysts say that, in the longer-term, the market is likely to keep recovering as many companies, particularly U.S. shale gas producers, scale back production plans.

A barrel of benchmark New York crude was down $1.01, or 2.5 percent, at $39.35 while the international standard, Brent, fell 82 cents, or 1.9 percent, to $42.28. Read more

PepsiCo 1Q sales slip, miss Wall Street’s view

PURCHASE, N.Y. (AP) — PepsiCo’s net income and sales dipped in the first quarter, stung by a strong dollar and some weakness overseas, but its adjusted earnings topped expectations.

It earned $931 million, or 64 cents per share, for the period ended March 19. Stripping out an impairment charge, earnings were 89 cents per share, beating the 81 cents per share Zacks analysts were looking for. Read more

GameStop to launch video game publishing division

BURBANK, Calif. (AP) — GameStop is diving into the video game publishing business, announcing plans Monday to launch a new division called GameTrust that will help distribute and market games.

GameTrust will initially publish games from a lineup of developers that includes the creators of the “Trine,” ”Deadlight” and “Ratchet & Clank” series. Read more

State proposals on LGBT rights push business into spotlight

ATLANTA (AP) — Major corporations invested in Southern states have become some of the staunchest opponents of bills they consider discriminatory. The NFL, Apple and others have opposed state bills in recent years that they say discriminates against the LGBT community. Companies are speaking up loudly again this year in states where such bills have been proposed. Read more

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