Economy

With the next Opec policy meeting a little more than a month away, individual countries seem weighing their options with regard to extending production cuts. Among the factors behind the weakness, traders cited muted demand in Asia, saying Chinese independent refiners - known as "teapots" - have dramatically reduced buying after strong imports earlier this year.
  • Oil recovers lost ground, but market remains under pressure

    Economy

    Eleven non-OPEC countries - Azerbaijan, Bahrain, Brunei, Equatorial Guinea, Kazakhstan, Malaysia, Mexico, Oman, Russia, Sudan, and South Sudan - agreed to reduce the oil output. OPEC ministers plus their non-OPEC counterparts are scheduled to meet on May 25. "It all comes down to whether Opec can deliver inventory cuts", Bill O'Grady, chief market strategist at Confluence Investment Management in St Louis, said by telephone.
  • Reliance Industries Q4 results: Higher margins in petrochem, refining

    Economy

    The margin was $11.5 per barrel during this quarter, which is much higher than a year ago. Consolidated net profit for the operator of the worlds biggest oil-refining complex rose to Rs 8,046 crore, or Rs 27.3 per share, in January-March quarter compared with Rs 7,167 crore net profit in the same period of previous year, it said in a statement.
  • Outsider Macron, Le Pen face-off in French second round

    Outsider Macron, Le Pen face-off in French second round

    Economy

    What was the atmosphere like? Le Pen, who has hardened her anti-immigration and anti-Europe rhetoric over the past week, hailed a "historic vote" in front of her supporters, adding: "The first stage has been passed". Macron, who has styled himself as a liberal progressive outsider set to revolutionize politics, appealed to enough voters to get into the May 7 second round, as early projections put him at the head of the field with about 24% of the vote.
  • US Fighter Pilot Approaching USS Carl Vinson Ejects from Jet

    Economy

    Meyer and USS Michael Murphy, and the cruiser USS Lake Champlain. Mr Pence also weighed into the controversy over claims the White House had been misleading about a USA carrier strike group's push toward the Korean peninsula. Pence told a joint news conference with Australian Prime Minister Malcolm Turnbull in Sydney that the deal would be subject to vetting, and that honoring it "doesn't mean that we admire the agreement".
  • Crude prices recover lost ground

    Crude prices recover lost ground

    Economy

    Futures climbed as much as 1.2 per cent in NY after slumping 6.7 per cent last week, the first drop in four weeks. A six-month extension to the output cut deal is necessary, the committee concluded, according to delegates with knowledge of the matter.
  • Euro rises sharply after first round of French election

    Euro rises sharply after first round of French election

    Economy

    For Americans, Duhamel said it would have been the equivalent of Ross Perot beating then-incumbent U.S. President George H.W. Bush and Democratic nominee Bill Clinton in the 1992 election. Using by Le Pen's own words, he said that he would be "the president of patriots against the threat of nationalists". "If she wins, it will obviously be an anti-Europe, protectionist, exclusionist line that wins and which could have troubling consequences for Europe and France", she added.
  • Euro scales 5-mth peak on French election relief

    Euro scales 5-mth peak on French election relief

    Economy

    Centrist Emmanuel Macron took a big step towards the French presidency on Sunday by winning the first round of voting and qualifying for a May 7 runoff alongside far-right leader Marine Le Pen. If Le Pen wins, it will further shake up the West's liberal post-war order, already rattled by Britain's vote to leave the European Union and Donald Trump's election to the White House.
  • Treasury won't grant Exxon drilling waiver for Russian Federation

    Economy

    Under Tillerson's leadership, Exxon paid hundreds of thousands of dollars to lobbying groups to argue against US sanctions and he personally met with senior Obama White House officials a dozen times to discuss sanctions on Russia (though he assured Congressional leaders at his confirmation hearing in January he "never lobbied against sanctions personally" and "to [his] knowledge, Exxon never directly lobbied against sanctions.") Exxon figures the sanctions, which have forestalled ...
  • Finncap Indicates Potential 5.85% Increase In Shares Of Shoe Zone PLC

    Economy

    The stock of Oclaro, Inc. Deutsche Bank maintained Debenhams Plc (LON:DEB) on Wednesday, October 12 with "Hold" rating. Numis Securities upgraded the stock to "Buy" rating in Wednesday, January 13 report. The Firm provides various solutions for optical networks and interconnects driving the next wave of streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications.