Business & Finance News
United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui said on Tuesday that an adjustment in global oil output is required and all producers must be on board.
The cost of insuring debt issued by Thomas Cook against default hit a record high and its bonds tumbled on Tuesday, as worries about the travel company’s borrowings deepened following its second profit warning in as many months last week.
Mastercard will incur a $650 million charge in the fourth quarter of this year because of a substantial fine related to a second EU antitrust investigation, the world’s second largest payments network operator said on Tuesday.
Mastercard said on Tuesday it expected a resolution to two EU antitrust investigations in the first quarter of 2019.
General Motors Co is intensifying its attack on rival Ford Motor Co’s lead in sales to U.S. commercial fleets to prop up profit margins amid weakening consumer demand, according to executives at the No. 1 U.S. automaker.
Ryanair is ramping up a new subsidiary with weaker labor rights to better compete in eastern Europe, infuriating staff and unions by bypassing concessions granted during a year of industrial strife.
Exxon Mobil is seeking to sell its stake inAzerbaijan’s largest oil field, once dubbed the “contract of the century”, as the U.S. oil and gas giant re-focuses its global operations, industry and banking sources said.
Visa and Mastercard have offered to reduce merchants’ charges for non-EU credit and debit cards by at least 40 percent to end an EU antitrust investigation, the European Commission said on Tuesday.
The cost of insuring debt issued by Thomas Cook against default hit a record high and its corporate debt tumbled on Tuesday as worries about the travel operator’s debt deepened following its second profit warning in as many months last week.
Apple Inc’s biggest iPhone assembler, Foxconn, is considering setting up a factory in Vietnam to mitigate any impact of an ongoing trade war between the United States and China, Vietnamese state media reported.
Deflating hopes of a swift resolution to the Sino-U.S. trade war knocked world stocks off three-week highs on Tuesday, while growing fears the U.S economy could be headed for recession sooner than expected weighed on the dollar.
OPEC and its allies are working towards a deal to reduce oil output by at least 1.3 million barrels per day, four sources said, adding that Russia’s resistance to a significant production cut was so far the main stumbling block.
Oil prices rose more than 2 percent on Tuesday, extending gains ahead of expected output cuts by producer cartel OPEC and a mandated reduction in Canadian supply.
Global sales of Nissan Motor Co Ltd’s Infiniti rose 6 percent in November from a year earlier, as the premium brand weathered a deepening market slowdown in China to post strong growth, showed an Infiniti statement seen by Reuters.
Oil prices rose more than 1 percent on Tuesday, extending gains ahead of expected output cuts by producer cartel OPEC and a mandated reduction in Canadian supply.
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