Articles by Editor

Oil prices fell on Monday amid worries about an economic slowdown and the U.S.-China trade war, which have led to a cut in the outlook for global oil demand.

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Shares in Osram soared after Austrian sensor maker AMS triggered a bidding war for the German lighting group, saying it was ready to trump Bain and Carlyle with a cash offer valuing the company at 4.3 billion euros ($4.8 billion).

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New ABB Chief Executive Bjorn Rosengren is committed to at least five years with the Swiss engineering group, Chairman Peter Voser said on Monday.

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Spanish energy firm Iberdrola has agreed to sell a 40% share in British offshore wind project East Anglia One to the Green Investment Group, it said on Monday.

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ABB shares jumped almost 4% in early Monday trading as investors welcomed news the Swiss engineering group had poached Bjorn Rosengren from Swedish mining equipment firm Sandvik to be its next chief executive.

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ABB’s largest shareholder Investor AB is pleased with the appointment of Bjorn Rosengren as the new chief executive of the engineering group, the Swedish investment company said on Monday.

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Top oil producer Saudi Aramco maintained its position as the world’s most profitable company on Monday even as it reported a 12% drop in first-half net income to $46.9 billion due to lower oil prices.

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Austrian sensor specialist AMS aims to wrap up its planned takeover of German lighting group Osram in the first half next year, its chief executive said on Monday.

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Oil prices edged lower on Monday amid worries about an economic slowdown and the Sino-U.S. trade war, which have led to a cut in the growth outlook for global oil demand.

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Saudi Aramco, the world’s top oil producer, reported first-half net income of $46.9 billion on Monday, down from $53.02 billion a year earlier.

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Worries that a prolonged Sino-U.S. trade war could tip the world and U.S. economies into recession weighed on Asian equities on Monday, offsetting a welcome a lift from Chinese shares and a stronger-than-expected daily fixing for the yuan.

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Gains by Chinese equities and the yuan’s stronger-than-expected daily fixing helped lift a broad gauge of Asian shares above water on Monday, but firm gold prices underscored investor worries over risks from a prolonged Sino-U.S. trade war.

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Oil prices dipped on Monday amid worries about an economic slowdown and the Sino-U.S. trade war, which have led to a cut in the growth outlook for oil demand.

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Asian shares fell on Monday morning, while gold prices held firm as investors worried a prolonged Sino-U.S. trade war could tip the world and U.S. economies into recession.

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Oil prices fell on Monday, dragged down by an economic slowdown and worries about the Sino-U.S. trade war, which have led to a cut in the growth outlook for oil demand.

…read more […]