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OPEC President Qatar's Energy Minister al-Sada and OPEC Secretary General Barkindo address a news conference after an OPEC meeting in Vienna

OPEC, Russia see smooth road to global deal on output cut

Reuters - By Vladimir Soldatkin, Rania El Gamal and Alex Lawler VIENNA (Reuters) - Russia and Saudi Arabia said they expect OPEC and non-OPEC producers to reach an agreement on Saturday to curtail oil output …

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  • OPEC President Qatar's Energy Minister al-Sada and OPEC Secretary General Barkindo address a news conference after an OPEC meeting in Vienna
    OPEC, Russia see smooth road to global deal on output cut Reuters

    By Vladimir Soldatkin, Rania El Gamal and Alex Lawler VIENNA (Reuters) - Russia and Saudi Arabia said they expect OPEC and non-OPEC producers to reach an agreement on Saturday to curtail oil output and …

    OPEC President Qatar's Energy Minister al-Sada and OPEC Secretary General Barkindo address a news conference after an OPEC meeting in Vienna

    By Vladimir Soldatkin, Rania El Gamal and Alex Lawler VIENNA (Reuters) - Russia and Saudi Arabia said they expect OPEC and non-OPEC producers to reach an agreement on Saturday to curtail oil output and prop up prices in the first such joint move since 2001. Everything is good!" Khalid al-Falih, energy minister of OPEC's …

  • U.S. slated to sell $375 million of emergency reserve oil this winter Reuters

    By Timothy Gardner WASHINGTON (Reuters) - The U.S. government is slated to sell $375 million worth of crude oil from the country's emergency reserve this winter after Congress passed a temporary spending …

    Crude oil storage tanks are seen from above at the Cushing oil hub in Cushing

    By Timothy Gardner WASHINGTON (Reuters) - The U.S. government is slated to sell $375 million worth of crude oil from the country's emergency reserve this winter after Congress passed a temporary spending bill on Friday that contained a measure authorizing the sale. President Barack Obama's administration has pushed Congress …

  • Aetna CEO defends merger with Humana in antitrust trial Reuters

    By Diane Bartz WASHINGTON (Reuters) - Aetna Inc's chief executive denied on Friday that its withdrawal from some Obamacare exchanges was in retaliation for government efforts to halt its merger with …

    Mark Bertolini, Chairman and CEO of Aetna, participates in a panel discussion at the 2015 Fortune Global Forum in San Francisco

    By Diane Bartz WASHINGTON (Reuters) - Aetna Inc's chief executive denied on Friday that its withdrawal from some Obamacare exchanges was in retaliation for government efforts to halt its merger with Humana Inc , as he sought to convince a federal judge to approve the deal. The U.S. Justice Department sued to stop the …

  • Trump packs trade team with veterans of steel wars with China Reuters

    By David Lawder WASHINGTON (Reuters) - President-elect Donald Trump is stacking his trade transition team with veterans of the U.S. steel industry's battles with China, signaling a potentially more aggressive …

    Billionaire investor Wilbur Ross departs Trump Tower after a meeting with U.S. President-elect Donald Trump in New York

    By David Lawder WASHINGTON (Reuters) - President-elect Donald Trump is stacking his trade transition team with veterans of the U.S. steel industry's battles with China, signaling a potentially more aggressive approach to U.S. complaints of unfair Chinese subsidies for its exports and barriers to imports. Led by Wilbur …

  • Exclusive: Reinsurer Beechwood explores sale after Platinum woes - source Reuters

    By Lawrence Delevingne NEW YORK (Reuters) - The Beechwood group of reinsurance companies is in talks to sell most or all of itself after a backlash from some clients due to its relationship with troubled …

    PLATINUM

    By Lawrence Delevingne NEW YORK (Reuters) - The Beechwood group of reinsurance companies is in talks to sell most or all of itself after a backlash from some clients due to its relationship with troubled hedge fund manager Platinum Partners, according to a person familiar with the situation. "The very good news is that …

  • Oil edges up about 1 percent on optimism over non-OPEC output cuts Reuters

    By Devika Krishna Kumar NEW YORK (Reuters) - Oil prices rose about 1 percent on Friday on hopes that non-OPEC producers meeting in Vienna over the weekend would agree to output restrictions following limits …

    Gas flame is seen in the desert near the Khurais oilfield

    By Devika Krishna Kumar NEW YORK (Reuters) - Oil prices rose about 1 percent on Friday on hopes that non-OPEC producers meeting in Vienna over the weekend would agree to output restrictions following limits OPEC announced last week to curb an oil glut. Both Brent and U.S crude futures, however, notched their first weekly …

  • Wall Street rises with Treasury yields, euro slides Reuters

    By Sinead Carew NEW YORK (Reuters) - U.S. stocks closed higher on Friday as more investors piled in on the presidential election rally while the euro continued to weaken after the European Central Bank’s …

    People walk past an electronic board showing Japan's Nikkei average outside a brokerage in Tokyo

    By Sinead Carew NEW YORK (Reuters) - U.S. stocks closed higher on Friday as more investors piled in on the presidential election rally while the euro continued to weaken after the European Central Bank’s decision a day earlier to extend economic stimulus. The S&P 500 stock index had its best week in four and its biggest …

  • Exclusive: ECB rejects Monte Paschi's request for more time to raise cash - source Reuters

    By Silvia Aloisi and Paola Arosio MILAN (Reuters) - The European Central Bank has rejected a request by Italy's Monte dei Paschi di Siena for more time to raise capital, a source said on Friday, a decision …

    The main entrance of the Monte dei Paschi bank headquarters is seen in Siena

    By Silvia Aloisi and Paola Arosio MILAN (Reuters) - The European Central Bank has rejected a request by Italy's Monte dei Paschi di Siena for more time to raise capital, a source said on Friday, a decision that piles pressure on the Rome government to bail out the lender. Italy's third-largest bank, and the world's oldest, …

  • Coke CEO Muhtar Kent hands reins to Quincey in widely expected move Reuters

    Coca-Cola Co said on Friday that Muhtar Kent would step aside as chief executive next year and be replaced by James Quincey, a company veteran credited with several recent changes to help the company cut …

    The Coca-Cola Company President and Chief Operating Officer James Quincey delivers a speech during a presentation in Paris

    Coca-Cola Co said on Friday that Muhtar Kent would step aside as chief executive next year and be replaced by James Quincey, a company veteran credited with several recent changes to help the company cut its dependence on sugary drinks. Quincey's ascension was widely expected since he became chief operating officer in …

  • Russia to hold additional talks before OPEC, non-OPEC meeting Reuters

    Russia plans to meet with some OPEC and non-OPEC nations on Friday to discuss unresolved issues related to a planned oil-output cut before wider talks the following day in Vienna, a Russian government …

    Russian Energy Minister Alexander Novak arrives to the 18th Ministerial Meeting of Gas Exporting Countries Forum (GECF) in Doha

    Russia plans to meet with some OPEC and non-OPEC nations on Friday to discuss unresolved issues related to a planned oil-output cut before wider talks the following day in Vienna, a Russian government source told Reuters. Russia has committed to reduce its output by 300,000 barrels per day (bpd) in the first half of 2017 …

  • EU upsets China with new steel price investigation Reuters

    By Philip Blenkinsop BRUSSELS (Reuters) - The European Union has launched a new investigation into whether Chinese manufacturers are selling steel into Europe at unfairly low prices, angering China which …

    A worker check on product at a steel factory in Dalian

    By Philip Blenkinsop BRUSSELS (Reuters) - The European Union has launched a new investigation into whether Chinese manufacturers are selling steel into Europe at unfairly low prices, angering China which says Europe's steel problems are due to the region's own economic weakness. The European Commission has determined …

  • Swiss seize evidence from AMAG group in VW emissions case Reuters

    Swiss prosecutors have opened criminal proceedings and seized evidence from the AMAG dealership network after an appellate court ruled Swiss investigators must conduct their own investigation of an emissions …

    The logos of German car manufacturers Volkswagen and Audi and Swiss car importer AMAG are seen in Zurich

    Swiss prosecutors have opened criminal proceedings and seized evidence from the AMAG dealership network after an appellate court ruled Swiss investigators must conduct their own investigation of an emissions scandal at German carmaker Volkswagen AG , they said on Friday. The Swiss Office of the Attorney General "has meanwhile …

  • 3M to sell identity management business to Gemalto Reuters

    (Reuters) - 3M Co , the maker of Scotch tape and Post-it notes, said it had entered into agreements to sell its identity management business to Amsterdam-based digital security company Gemalto for $850 …

    The logo of Down Jones Industrial Average stock market index listed company 3M

    (Reuters) - 3M Co , the maker of Scotch tape and Post-it notes, said it had entered into agreements to sell its identity management business to Amsterdam-based digital security company Gemalto for $850 million. "We believe that the identity management business will be better positioned with a company that is primarily …

  • Saudi Arabia tells oil buyers of cuts after OPEC deal, PIRA says Reuters

    NEW YORK (Reuters) - Saudi Arabia is informing its customers of cuts to their January crude oil supplies to comply with the latest OPEC agreement, according to a PIRA note late on Thursday. The note adds …

    Gas flame is seen in the desert near the Khurais oilfield

    NEW YORK (Reuters) - Saudi Arabia is informing its customers of cuts to their January crude oil supplies to comply with the latest OPEC agreement, according to a PIRA note late on Thursday. The note adds that cuts will be to varying degrees, but is likely to be larger to North America due to lower margins. Last week, members …

  • Only five non-OPEC producers so far attending talks to widen output cut Reuters

    By Alex Lawler and Rania El Gamal LONDON/DUBAI (Reuters) - Only five of 14 non-OPEC oil producers have agreed so far to meet the group on Saturday for talks aimed at widening a deal to reduce output, …

    The OPEC logo is seen outside their headquarters in Vienna

    By Alex Lawler and Rania El Gamal LONDON/DUBAI (Reuters) - Only five of 14 non-OPEC oil producers have agreed so far to meet the group on Saturday for talks aimed at widening a deal to reduce output, casting doubt on whether OPEC will secure the full cuts it is seeking, two OPEC sources said. The last time non-OPEC countries …

  • ECB unexpectedly cuts asset buys, extends until end 2017 Reuters

    By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) - The European Central Bank unexpectedly reduced its asset buys on Thursday but reserved the right to increase purchases once again, a decision …

    European Central Bank President Draghi and Vice President Constancio address a news conference at the ECB headquarters in Frankfurt

    By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) - The European Central Bank unexpectedly reduced its asset buys on Thursday but reserved the right to increase purchases once again, a decision that may be seen as a concession to conservative euro zone members such as Germany. The ECB will reduce its asset buys …

  • ECB spooks bond markets with stimulus slowdown Reuters

    By Marc Jones LONDON (Reuters) - A signal from the European Central Bank that it would slow its stimulus program from April next year spooked bond and money markets on Thursday and triggered a short sharp …

    A man looks at an electronic board showing Japan's Nikkei average outside a brokerage in Tokyo

    By Marc Jones LONDON (Reuters) - A signal from the European Central Bank that it would slow its stimulus program from April next year spooked bond and money markets on Thursday and triggered a short sharp surge in the euro. Stock markets took the move in their stride with a closely-followed global index extending a three-month …

  • Bombardier finalizes Philippine Air aircraft deal Reuters

    (Reuters) - Bombardier Inc said it finalized a deal with Philippine Airlines Inc under which the carrier will buy five Q400 aircraft and will have the rights to purchase an additional seven of the turboprop …

    A Bombardier aircraft is displayed at the Singapore Airshow at Changi Exhibition Center

    (Reuters) - Bombardier Inc said it finalized a deal with Philippine Airlines Inc under which the carrier will buy five Q400 aircraft and will have the rights to purchase an additional seven of the turboprop planes. The deal is valued at about $165 million based on the list price of the aircraft, and could increase to $401 …

  • China's Fujian drops Aixtron bid after Obama blocks deal Reuters

    China's Fujian Grand Chip Investment Fund has dropped its takeover bid for German chip equipment maker Aixtron after U.S. President Barack Obama blocked the deal. Fujian's takeover vehicle Grand Chip …

    The logo of Aixtron SE is pictured on the roof of the German chip equipment maker's headquarters in Herzogenrath

    China's Fujian Grand Chip Investment Fund has dropped its takeover bid for German chip equipment maker Aixtron after U.S. President Barack Obama blocked the deal. Fujian's takeover vehicle Grand Chip Investment said on Thursday its offer had lapsed as it had failed to obtain U.S. regulatory approval for the purchase, …

  • Poll: OPEC deal will pack little punch in raising oil prices Reuters

    OPEC's landmark oil-production deal may prove effective in running down global inventories, but analysts hold little hope for much of a rise in prices, a Reuters poll showed on Thursday. "In the medium …

    The OPEC flag and the OPEC logo are seen before a news conference in Vienn

    OPEC's landmark oil-production deal may prove effective in running down global inventories, but analysts hold little hope for much of a rise in prices, a Reuters poll showed on Thursday. "In the medium term, we can expect tighter market balances but for a substantial price recovery to take place, significant demand growth …