Business & Finance News
Oil prices were firm on Wednesday on expectations of tighter markets once U.S. sanctions target Iran’s petroleum industry from next month, although a strong dollar and rising U.S. crude supply curbed gains.
The euro pulled ahead from a six-week low on Wednesday after a report that Italy plans to reduce its budget deficit in the coming years provided some relief to the battered currency.
Asian shares reversed early losses while the euro rebounded from six-week lows on reports Italy will cut its budget deficit at a faster pace than expected, raising hopes Rome could stave off a problematic debt blow-out.
Japan’s Sharp Corp unveiled its long-awaited move into the organic light-emitting diode (OLED) market on Wednesday as the Apple Inc supplier looks to catch rival Samsung Electronics Co Ltd .
Oil prices were firm on Wednesday on expectations of a tighter market once U.S. sanctions start targeting Iran’s petroleum industry from next month, although a strong dollar and rising U.S. crude supply curbed gains.
The steel industries of Mexico and Canada on Tuesday urged their governments to resolve a tariff dispute with the United States before signing a new trilateral trade deal that was unveiled this week.
Oil prices dipped on Wednesday, weighed down by a report of rising U.S. crude inventories and an expected increase in production.
Asian shares ticked lower on Wednesday and the euro held at six-week lows as Italy’s mounting debt and Rome’s budget plan set it on a collision course with the European Union.
Hilton Worldwide Holdings plans to more than double its hotels in Africa in the next five years by mainly striking deals with existing hotels for conversion into its brand, its chief executive said.
The dollar stood near a one-month high against its peers on Wednesday as concerns as political wrangling over Italy’s budget plan rattled market sentiment and weighed on the euro.
A federal judge has ruled that Tesla must defend itself at a trial over allegations it knew foreign workers at one of its facilities were threatened with deportation if they reported an injury and worked long shifts that violated forced labor laws.
China’s hopes of negotiating a free trade pact with Canada or Mexico were dealt a sharp setback by a provision deep in the new U.S.-Mexico-Canada trade agreement that aims to forbid such deals with “non-market” countries, trade experts said on Tuesday.
J. C. Penney Co Inc on Tuesday hired Jill Soltau, former chief executive officer of privately held fabric and crafts retailer Joann Stores, to the top job, effective mid-October.
Advanced Micro Devices Inc shares have been the S&P 500’s rock star gainer this year, but a recent slide signals some investors are hedging their bets that it can make major inroads in the server computer chip market dominated by Intel Corp . On Tuesday, AMD was the top decliner and Intel the top gainer on the S&P 500. The company has a steep hill to climb to live up to the hopes that had pushed its shares up as much as 228 percent last month from las
Exxon Mobil Corp is exploring the sale of many of its U.S. Gulf of Mexico assets, as higher prices prompt the world’s largest publicly traded oil company to review its portfolio, people familiar with the matter said on Tuesday.
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