Business & Finance News
Oil prices dipped on Thursday, paring earlier gains, weighed down by worries about the global economy and bigger-than-expected builds in oil product inventories in the United States, the world’s biggest oil consumer.
Swiss telecommunications company Sunrise Communications on Thursday escalated its defence of its planned takeover of Liberty Global’s Swiss unit UPC, touting additional synergies and blasting a shareholder that is fighting the deal.
Oil prices slipped on Thursday, paring earlier gains, weighed down by lingering worries about the global economy and bigger-than-expected builds in oil product inventories in the United States, the world’s biggest oil consumer.
Asian shares went flat on Thursday as uncertainty over the outlook for both U.S. interest rates and the chance of global fiscal stimulus sucked the life out of markets.
Oil prices edged higher on Thursday after a drawdown in U.S. crude inventories, but lingering concerns over the global economy and a build-up in U.S. refined product stocks kept a lid on gains.
German auto maker Daimler AG plans to build Mercedes Benz-branded heavy trucks in China by revamping truck plants owned by its local joint venture, according to a document seen by Reuters and two sources familiar with the matter.
The U.S. Agriculture Department said on Wednesday it had pulled all staff from an annual crop tour after an employee was threatened, and three sources said the threat of violence was made during a phone call from an angry farmer.
Oil prices rose on Thursday following a drawdown in U.S. crude inventories, but gains in fuel inventories and persistent concerns over the global economy and future demand outlook capped gains.
Japanese Economy Minister Toshimitsu Motegi said on Wednesday there were still gaps that needed to be filled before Tokyo and Washington could agree on a bilateral trade deal and that negotiations with his U.S. counterpart were “very tough.”
U.S. President Donald Trump stepped up a series of attacks on automakers on Wednesday for not backing his administration’s plan to roll back Obama-era fuel efficiency rules, singling out Ford Motor Co in particular for backing a deal with California for stricter fuel economy standards.
Asian shares edged ahead on Thursday after Wall Street got a boost from strong retail results, while bonds retreated as U.S. policy makers sounded conflicted on whether to cut interest rates as sharply as markets were wagering.
The one thing Federal Reserve officials were in broad agreement about at their last meeting was this: to not tip their hands about what happens next.
Upscale U.S. retailer Nordstrom Inc reported a better-than-expected quarterly profit on Wednesday as it said it had cut costs and cleared more inventory, sending its shares up 10% in extended trading.
The agriculture and biofuel industries and their U.S. congressional allies ramped up pressure on the Trump administration on Wednesday over the relief he has given oil refiners from rules requiring use of biofuels.
Boeing has been awarded a $999 million defense contract to replace the wings on A-10 close air support aircraft, the Pentagon said on Wednesday.
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