Business & Finance News
Brent crude rose to a four-year high on Wednesday, as the market focused on upcoming U.S. sanctions on Iran while shrugging off the year’s largest weekly build in U.S. crude stockpiles and reports of higher Saudi Arabian and Russian production.
The Dow Jones Industrial Average hit a record high on Wednesday, driven by gains in financial and technology stocks and a robust monthly private payrolls report.
Oil rose more than 1 percent in volatile trade on Wednesday, touching a fresh four-year high as the market focused on upcoming U.S. sanctions on Iran and shrugged off the year’s largest build in U.S. crude stockpiles and reports of higher Saudi Arabian and Russian production.
U.S. services sector activity raced to a 21-year high in September and companies boosted hiring, signs of enduring strength in the economy at the end of the third quarter.
U.S. holiday sales will increase 4.3 percent to 4.8 percent, getting a boost from a strong economy, according to a forecast from a leading retail industry group.
Canadian oil companies Husky Energy Inc and MEG Energy Corp discussed a possible merger for months, and one major MEG shareholder expressed interest early, before Husky was rebuffed and launched a hostile bid this week, according to a Husky filing.
Global energy bosses assembled in Moscow on Wednesday said the world needed Russian gas to keep the lights on, in a clear message to U.S. President Donald Trump who has warned he may impose sanctions on Russian gas export projects.
The Dow Jones Industrial Average hit a new high on Wednesday, leading gains in the three major Wall Street indexes, driven by a jump in financial and technology stocks and a robust monthly private payrolls report.
Ebay Inc on Wednesday accused Amazon.com Inc of trying to poach sellers for its own platform through Ebay’s internal messaging system.
Oil rose on Wednesday, touching a fresh four-year high as the market focused on upcoming U.S. sanctions on Iran and shrugged off a surprisingly big build in U.S. crude stockpiles and reports of higher Saudi Arabian and Russian production.
Stock markets around the world rose and Italian bonds rallied on Wednesday after signs that Rome would cut budget deficits and decrease its debt in the coming years, while new U.S. jobs data supporting a strong U.S. economy boosted the dollar.
Honda Motor Co Ltd will invest $2.75 billion and take a 5.7 percent stake in General Motors Co’s Cruise self-driving vehicle unit, to jointly develop self-driving vehicles for deployment in ride services fleets around the world.
U.S. private payrolls recorded their biggest increase in seven months in September, boosted by hiring at construction sites and in the services sector, pointing to sustained labor market strength that should continue to underpin economic growth.
French Finance Minister Bruno Le Maire said on Wednesday he would press General Electric’s new chief executive to stick to French job creation pledges made by the CEO’s predecessor.
Honda Motor Co Ltd will invest $2 billion and take a 5.7 percent stake in General Motors Co’s Cruise self-driving vehicle unit, to jointly develop self-driving vehicles for deployment in ride services fleets around the world.
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