Brent oil rallied above $65 per barrel on Friday and was on track for a 5% gain this week on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world’s oil output.
Three European central bankers are claiming oversight over Facebook’s planned virtual currency to ensure it will not jeopardize the financial system or be used to launder money.
U.S. stock index futures dipped on Friday, after a strong rally in the prior session that helped the S&P 500 hit a record high, as rising tensions between the United States and Iran kept investors on edge.
Brent oil rallied above $65 per barrel and was set to notch up a 6% gain this week on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world’s oil output.
Huawei smart phones sales in western European countries have risen “in the past few days” as customers grow more confident the Chinese company will weather U.S. sanctions levied last month, a European executive said on Friday.
Facebook Inc’s Libra cryptocurrency would hand over much of the control of monetary policy from central banks to private companies, the company’s co-founder Chris Hughes said in an opinion piece in the Financial Times on Friday.
World stocks fell on Friday, as worries about a threatened U.S. military strike against Iran and a global trade conflict took the edge off a central bank-induced rally from earlier in the week.
British Airways said on Friday it will adhere to guidance from the U.S. Federal Aviation Administration (FAA) to avoid parts of Iranian airspace and its flights will continue to operate using alternative routes.
Oil prices rallied towards $65 per barrel on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than 20% of the world’s oil output.
Huawei Technologies said on Friday it has shipped 100 million smartphones this year as of May 30.
Some global airlines are re-routing flights to avoid Iran-controlled airspace over the Strait of Hormuz and Gulf of Oman, they said on Friday, after the U.S. aviation regulator barred its carriers from the area until further notice.
Major central banks and regulators will want oversight of Facebook’s proposed new currency and payment system, Libra, to ensure it is safe and does not allow money laundering or finance terrorism, Bank of England Governor Mark Carney said.
Delta Air Lines bought a small stake in Korean Air Lines Co’s parent company and said it wants to increase it to 10%, giving a boost to the management of South Korea’s top carrier that seeks to thwart a local activist fund’s challenge.
The United States and Japan may need to shore up bank oversight to prepare for economic downturns, the head of the Federal Reserve Bank of Boston warned on Friday.
Australia’s flag carrier, Qantas Airways Ltd, said on Friday that its flights over the Middle East would avoid the Strait of Hormuz and Gulf of Oman following the downing of a U.S. surveillance drone in the region.
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