Saudi Arabia’s first comprehensive bankruptcy law went into effect last month, one of many reforms to the legal system that economists say may be more important in the long run than high-profile privatizations.
Oil prices rose by nearly 1 percent on Thursday, driven by the prospect of a shortfall in global supply once U.S. sanctions against major crude exporter Iran come into force in just five weeks’ time.
Europe’s share markets and the euro both took a tumble on Thursday as a report that Italy’s long-awaited budget was facing a delay compounded an already groggy global mood after the third U.S. interest rate rise of the year.
France has no plans for now to sell its 14 percent stake in Air France-KLM , Finance Minister Bruno Le Maire said on Thursday, pressing the group’s new chief executive to focus on increasing competitiveness.
Saudi Arabia will quietly add extra oil to the market over the next couple of months to offset a drop in Iranian production but is worried it might need to limit output next year to balance global supply and demand as the United States pumps more crude.
Amazon.com Inc founder Jeff Bezos’s space startup Blue Origin LLC has won a contract to supply engines for United Launch Alliance LLC (ULA), the Wall Street Journal reported on Thursday.
Shares in H&M rose on Thursday after the fashion retailer reassured investors that it would not need to cut costs further to shift unsold clothing despite a bigger than expected 20 percent fall in quarterly profit.
France has no plans for now to sell its stake in Air France-KLM and the priority is to increase the competitiveness of the group’s French unit, Finance Minister Bruno Le Maire said on Thursday.
Global shares struggled in volatile trade on Thursday with Asian markets giving up earlier gains after the Federal Reserve raised interest rates and affirmed plans for more policy tightening through to 2020.
Comcast , the victor in the $40 billion auction for Sky , said it had acquired 38 percent of the British pay-TV group’s shares and did not intend to make any further market purchases for now.
Air France KLM’s new Chief Executive Benjamin Smith said the French state is prepared to sell its 14 percent stake in the airline, according to the Financial Times.
Asian shares held firm on Thursday, outperforming sagging Wall Street shares, and U.S. bond yields fell after the Federal Reserve raised interest rates as expected, sticking to its script of gradual policy tightening.
Union officials representing 30,000 workers at U.S. oil refineries and chemical plants on Wednesday said they will pursue sizable wage increases and a 3-year contract in coming negotiations.
Oil prices rose by 1 percent on Thursday as investors focused on the prospect of tighter markets due to U.S. sanctions against major crude exporter Iran, which are set to be implemented in November.
Global equities ran out of steam and U.S. bond yields fell after the Federal Reserve raised interest rates as expected, sticking to its script of gradual policy tightening with forecasts of five more rate hikes by 2020.
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