Year: 2018

The euro rebounded on Wednesday after reports that Italy plans to reduce its budget deficit over the next three years, but traders said the rally could be short-lived.

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Shares in luxury carmaker Aston Martin opened flat at the offer price of 19 pounds ($24.70) per share in its London debut on Wednesday.

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Oil prices edged up on Wednesday on expectations of tighter markets once U.S. sanctions target Iran’s petroleum industry from next month, although a strong dollar and rising U.S. crude supply curbed gains.

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Asian shares slipped on Wednesday as oil prices near four-year highs threatened to roil emerging economies, while the euro rebounded from six-week lows on reports Italy will reduce its budget deficit more quickly than expected.

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Britain’s Aston Martin said on Wednesday it had priced its shares at 19 pounds each in its London stock market debut, giving the luxury carmaker a valuation of $5.6 billion.

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Exxon Mobil Corp is considering a multi-billion dollar investment at its Singapore refinery, the company’s largest, ahead of new global shipping fuel regulations starting in 2020, a senior executive said on Wednesday.

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Swiss drugmaker Roche is breaking into hemophilia A treatment, a $10 billion global market dominated by rivals who have cultivated close ties to sufferers of the genetic bleeding disorder.

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The launch of a massive liquefied natural gas (LNG) export project in Canada could fire the starting gun on a wave of other approvals around the world, potentially curbing a supply crunch expected after 2020.

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Four global tech giants – Facebook, Apple, Alphabet and Amazon – will oppose an Australian law that would require them to provide access to private encrypted data linked to suspected illegal activities, an industry lobby group said on Wednesday. Australia in August proposed fines of up to A$10 million ($7.2 million) for institutions and prison terms for individuals who do not comply with a court request to give authorities access to private data.

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Some Tesla directors have proposed that James Murdoch, fellow board member at the electric carmaker and chief executive officer of Twenty-First Century Fox Inc, succeed Elon Musk as its chairman, the New York Times reported on Tuesday, citing people involved in the board’s discussions.

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Tencent Music Entertainment, which owns China’s most popular music apps, has filed for a U.S. IPO seeking funds to develop content and new services, in what is expected to be one of the biggest U.S. listings by a Chinese company this year.

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Executives at the world’s biggest oil and gas companies are under growing pressure to loosen the purse strings to replenish reserves, halt output declines and take advantage of a crude price rally after years of austerity.

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Oil prices were firm on Wednesday on expectations of tighter markets once U.S. sanctions target Iran’s petroleum industry from next month, although a strong dollar and rising U.S. crude supply curbed gains.

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The euro pulled ahead from a six-week low on Wednesday after a report that Italy plans to reduce its budget deficit in the coming years provided some relief to the battered currency.

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Asian shares reversed early losses while the euro rebounded from six-week lows on reports Italy will cut its budget deficit at a faster pace than expected, raising hopes Rome could stave off a problematic debt blow-out.

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