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Oil recovers ground after U.S. data shows crude stock build

Oil rebounded from several days of declining values after industry data showed a surprise drop in U.S. crude inventories, offsetting weak economic readings in the United States that have depressed global stock markets. Brent crude rose 52 cents to $59.41 a barrel by 0138 GMT, claiming back some of the ground lost over the past three sessions. Front-month WTI prices as buyers emerge ahead of the $60.00 and $54.00 levels settled down for the sixth straight session on Tuesday, their longest losing streak this year, after U.S. manufacturing activity dived to a 10-year low as U.S.-China trade …read more […]

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GLOBAL MARKETS-Global shares at 1-month low on U.S. manufacturing shock

Global shares retreated to one-month lows on Wednesday after U.S. manufacturing activity tumbled to more than a decade-low, sparking worries that the fallout from the U.S.-China trade war is starting to spread to the U.S. economy. A slowdown in U.S. economic growth would remove one of the few remaining bright spots in the global economy and come just as Europe is seen as close to falling into recession. In Asia, MSCI’s ex-Japan Asia-Pacific shares index dropped 0.32%, with Australian shares falling more than 1%. …read more […]

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Juul hires Altria executive to handle regulation amid vaping crisis

Juul Labs Inc on Tuesday hired the head of regulatory affairs at its part-owner Altria Group Inc to take on a similar role at the e-cigarette maker, amid a regulatory backlash against the growth of teen vaping in the United States. Joe Murillo is the first big hire by Juul’s new chief executive officer, K.C. Crosthwaite, who himself moved over from Altria last week. Altria owns a 35.5% stake in Juul, which last week said it would suspend all advertising in the United States where the Trump administration has announced plans to remove all flavored e-cigarettes from store …read more […]