Business & Finance News
Oil prices surged more than 15% at the open on Sunday after an attack on Saudi Arabia’s oil facilities on Saturday that knocked out more than 5% of global oil supply.
U.S. stock futures fell 0.59% percent when trading resumed on Sunday, a day after attacks on Saudi oil facilities that risk disrupting global energy supplies.
U.S. shale producers have added millions of barrels to global crude supply in recent years, but that does not mean they can quickly replace barrels lost from weekend attacks on Saudi Aramco facilities, energy experts said on Sunday.
Attacks on Saudi oil plants have boosted concerns about supply security in the Middle East and should raise the risk premium in the global crude market, shifting focus from a gloomy economic backdrop, S&P Global Platts said on Sunday.
Saudi Arabia’s oil exports will continue as normal this week as the kingdom taps into stocks from its large storage facilities, an industry source briefed on the developments told Reuters on Sunday.
Axel Springer is planning layoffs as part of a cost-cutting program that would mainly affect its newspapers, the German media group’s chief executive told the Sueddeutsche Zeitung in an interview released on Sunday.
The United Auto Workers (UAW) said on Sunday that its roughly 48,000 hourly workers at General Motors Co facilities would go on strike as of midnight Sunday after U.S. labor contract talks reached an impasse, the first nationwide strike at GM in 12 years.
Germany’s motor vehicle authority (KBA) has told Volkswagen’s premium brand Audi that it faces penalties for its failure to remove illegal software from diesel cars that can manipulate emissions levels, the Bild am Sonntag (BamS) newspaper reported.
Edizione, the Benetton family holding company which has a controlling stake in Italian infrastructure group Atlantia , said at the weekend it was dismayed by revelations of alleged safety violations in its road operations.
The United Auto Workers (UAW) said on Sunday that its roughly 48,000 hourly workers at General Motors Co facilities would go on strike as of midnight Sunday after U.S. labor contract talks reached an impasse, the first nationwide strike at GM in 12 years.
The United Auto Workers (UAW) said on Sunday that its roughly 48,000 hourly workers at General Motors Co facilities would go on strike as of midnight Sunday after labor contract talks reached an impasse over wide-ranging issues from wages to health care benefits and temporary workers.
The United Auto Workers (UAW) said that its members will go on strike against General Motors Co as of Sunday evening, after a lack of progress in contract talks on key issues from wages to health care benefits, temporary employees, job security and profit sharing.
Hong Kong Exchanges and Clearing is embarking on a three-week charm offensive with London Stock Exchange investors as the Asian trading house tries to salvage its proposed $39 billion takeover offer.
The United Auto Workers (UAW) turned up the pressure on General Motors Co, threatening a strike by Sunday night if the company does not agree to its terms and ordering 850 maintenance workers at five GM facilities to walk off the job.
A year ago, U.S. Federal Reserve Chair Jerome Powell held a “remarkably positive outlook” for an economy enjoying a “historically rare” combination of good news including low unemployment, steady inflation and strong growth that were all expected to continue.
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