Oil prices rose nearly 2% on Friday as tensions brewed again in the Middle East after a U.S. Navy ship destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude flows.
BMW named Oliver Zipse as its new chief executive late on Thursday, praising his “decisive” qualities after the luxury carmaker lost its edge in electric cars and ceded the premium sales crown to Mercedes under his consensus-seeking predecessor.
The International Energy Agency (IEA) doesn’t expect oil prices to rise significantly because demand is slowing and there is a glut in global crude markets, its executive director said on Friday.
General Motors Co unveiled on Thursday its newly designed mid-engine 2020 Corvette in a splashy tribute to its emblematic sports car, even as the No. 1 U.S. automaker faces mounting pressures in a sluggish and uncertain global sales environment.
Asian stocks advanced on Friday after a top Federal Reserve official cemented expectations of a U.S. interest rate cut later this month, fuelling appetite for riskier assets and keeping a cap on the dollar.
Oil prices climbed around 2% on Friday after the U.S. Navy destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude flows, again raising tensions in the Middle East.
The International Energy Agency (IEA) is reducing its 2019 oil demand forecast due to a slowing global economy amid a U.S.-China trade spat, its executive director said on Thursday.
China made its biggest purchase of U.S. sorghum since April last week, according to U.S. Department of Agriculture data issued on Thursday, as Washington and Beijing revive discussions to end their trade war.
U.S. and Chinese officials spoke by telephone on Thursday as the world’s two largest economies seek to end a year-long trade war, with U.S. Treasury Secretary Steven Mnuchin suggesting in-person talks could follow.
Asian stocks gained and the dollar sagged on Friday after a top Federal Reserve official all but cemented expectations of a U.S. interest rate cut later this month.
Activist investor Carl Icahn on Thursday formally launched a proxy fight against Occidental Petroleum to win control of four board seats, according to a regulatory filing, after talks with the oil company’s chief executive failed to reach an agreement.
J.C. Penney Co Inc has hired advisers to explore debt restructuring options that would buy more time for the money-losing U.S. retailer to forge a turnaround, people familiar with the matter said on Thursday.
The We Company, parent of flexible workspace operator WeWork, plans to host an analyst day for Wall Street banks on July 31, as the company steps up its preparations for an initial public offering (IPO), people familiar with the matter said.
A U.S. airline industry group said it had a “productive” meeting on Thursday with President Donald Trump, who “shares our concerns” about accusations that subsidies by Qatar and the United Arab Emirates are costing jobs in the United States.
Microsoft Corp on Thursday beat analysts’ estimates for fourth-quarter revenue and profit, driven by continued sales increases from its cloud business and sending its shares to all-time highs.
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