World + Economy

An oil pump is seen in Lagunillas

Oil prices dip as focus returns to global supply overhang

Reuters - By Henning Gloystein SINGAPORE (Reuters) - Oil prices dipped on Thursday, extending the previous day's decline, as the market focus returned to a global supply overhang, although a surprise fall in …

People are reflected in mirrors at an entrance to a department store in Tokyo

Japanese seek bargains as economy limps, Abenomics loses shine

Reuters - By Leika Kihara TOKYO (Reuters) - Three years of so-called "Abenomics", Japanese Prime M…

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  • An oil pump is seen in Lagunillas
    Oil prices dip as focus returns to global supply overhang Reuters

    By Henning Gloystein SINGAPORE (Reuters) - Oil prices dipped on Thursday, extending the previous day's decline, as the market focus returned to a global supply overhang, although a surprise fall in Chinese …

    An oil pump is seen in Lagunillas

    By Henning Gloystein SINGAPORE (Reuters) - Oil prices dipped on Thursday, extending the previous day's decline, as the market focus returned to a global supply overhang, although a surprise fall in Chinese crude inventories did lend some support. International benchmark Brent crude oil futures were trading down 10 cents …

  • Japanese seek bargains as economy limps, Abenomics loses shine Reuters

    By Leika Kihara TOKYO (Reuters) - Three years of so-called "Abenomics", Japanese Prime Minister Shinzo Abe's bold stimulus program, has failed to dislodge a deflationary mindset among businesses and consumers. …

    People are reflected in mirrors at an entrance to a department store in Tokyo

    By Leika Kihara TOKYO (Reuters) - Three years of so-called "Abenomics", Japanese Prime Minister Shinzo Abe's bold stimulus program, has failed to dislodge a deflationary mindset among businesses and consumers. As the world's third-largest economy falters again - with a stronger yen gnawing at overseas profits and domestic …

  • Indonesian stocks dally at record peak as investors fear tipping point Reuters

    By Fransiska Nangoy JAKARTA (Reuters) - Indonesian stocks are on a roll - with 18 percent gains this year and a boost from President Joko Widodo's economic reforms - and yet, investors worry about buying …

    An employee walks in front of an electronic board at the Indonesia Stock Exchange in Jakarta

    By Fransiska Nangoy JAKARTA (Reuters) - Indonesian stocks are on a roll - with 18 percent gains this year and a boost from President Joko Widodo's economic reforms - and yet, investors worry about buying more of a market hitting historic peaks. The Jakarta Composite Index <.JKSE> is Asia's second-best performer in dollar …

  • Wall Street stocks retreat, oil tumbles on oversupply concerns Reuters

    By Hilary Russ NEW YORK (Reuters) - Wall Street stocks retreated on Wednesday led by health care and materials stocks, while oil prices tumbled about 3.0 percent on worries about oversupply. Mylan slumped …

    Traders work at their desks in front of the German share price index DAX board in Frankfurt

    By Hilary Russ NEW YORK (Reuters) - Wall Street stocks retreated on Wednesday led by health care and materials stocks, while oil prices tumbled about 3.0 percent on worries about oversupply. Mylan slumped 5.4-percent to $43.15 after U.S. presidential candidate Hillary Clinton joined a Senate committee in asking why the …

  • U.S. banking regulators focused on cyber security after SWIFT attacks Reuters

    U.S. banking regulators said on Wednesday they are focused on cyber security risks and controls for U.S. financial institutions after attacks earlier this year involving the global financial network known …

    Photo illustration of the Swift bank logo

    U.S. banking regulators said on Wednesday they are focused on cyber security risks and controls for U.S. financial institutions after attacks earlier this year involving the global financial network known as SWIFT. In a letter responding to questions from Representative Carolyn Maloney, a Democrat from New York, the regulators …

  • Iran, Ecuador discuss ways to strengthen oil prices Reuters

    By Alexandra Valencia QUITO (Reuters) - Iran and Ecuador on Wednesday discussed ways that the two countries can strengthen oil prices as Iran signals it may support joint efforts by exporters to prop up …

    Iranian Foreign Minister Mohammad Javad Zarif talks with Ecuadorean President Rafael Correa at Carondelet Palace in Quito, Ecuador

    By Alexandra Valencia QUITO (Reuters) - Iran and Ecuador on Wednesday discussed ways that the two countries can strengthen oil prices as Iran signals it may support joint efforts by exporters to prop up flagging crude. Iran has been boosting output since Western sanctions were eased in January. Tehran refused to join a …

  • U.S. crude down 3 percent after big stockpile build Reuters

    The U.S. Energy Information Administration (EIA) said crude inventories rose 2.5 million barrels last week, versus analysts' forecasts for a draw of 500,000 barrels. U.S. West Texas Intermediate (WTI) …

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

    The U.S. Energy Information Administration (EIA) said crude inventories rose 2.5 million barrels last week, versus analysts' forecasts for a draw of 500,000 barrels. U.S. West Texas Intermediate (WTI) futures settled down $1.33, or 2.8 percent, at $46.77 per barrel. Brent crude futures fell 91 cents, or 1.8 percent, …

  • Rolls-Royce wins $1.5 billion engine order with China Eastern Airlines Reuters

    British engineering company Rolls-Royce said it won a $1.5 billion order for its Trent 700 engines from China Eastern Airlines <600115.SS> to power 15 of the Chinese carrier's Airbus A330 aircraft.  …

    A Rolls-Royce logo is seen at the company aerospace engineering and development site in Bristol in Britain

    British engineering company Rolls-Royce said it won a $1.5 billion order for its Trent 700 engines from China Eastern Airlines <600115.SS> to power 15 of the Chinese carrier's Airbus A330 aircraft. Rolls-Royce said its Trent 700 engine had been chosen for about 70 percent of new A330 orders over the last five years. …

  • German ratings firm Scope seeks ECB recognition Reuters

    By Marc Jones LONDON (Reuters) - German rating firm Scope says it is in talks to become one of the European Central Bank's recognised sovereign credit agencies, though tough requirements mean the process …

    EU flags fly in front of European Central Bank headquarters in Frankfurt

    By Marc Jones LONDON (Reuters) - German rating firm Scope says it is in talks to become one of the European Central Bank's recognised sovereign credit agencies, though tough requirements mean the process could take at least three years. Scope would become the first agency based in continental Europe to rate assets included …

  • Audi recalls A8 models in South Korea due to stalling problem Reuters

    Audi is recalling 1,534 A8 cars in South Korea due to a stalling problem, the transport ministry said on Wednesday, adding it was the first country where the German carmaker was recalling the model for …

    View shows Audi logo in Moscow

    Audi is recalling 1,534 A8 cars in South Korea due to a stalling problem, the transport ministry said on Wednesday, adding it was the first country where the German carmaker was recalling the model for such a defect. The Volkswagen division will expand the recall to the United States and other countries, South Korea …

  • China takes forceful steps to tame unruly peer-to-peer lending sector Reuters

    China's banking regulator unveiled aggressive measures to restrain the country's fast expanding peer-to-peer (P2P) lending sector on Wednesday, warning that almost half of the 4,000-odd online lending …

    Shang Fulin, chairman of the CBRC, answers a question at a news conference in Beijing

    China's banking regulator unveiled aggressive measures to restrain the country's fast expanding peer-to-peer (P2P) lending sector on Wednesday, warning that almost half of the 4,000-odd online lending platforms are "problematic". The $93 billion P2P lending sector has been a source of funds for individuals and small businesses …

  • UBS leads team of banks working on blockchain settlement system Reuters

    By Jemima Kelly LONDON (Reuters) - Swiss bank UBS is leading a team of four of the world's biggest banks developing a system to enable financial markets to make payments and settle transactions quickly …

    The logo of Swiss bank UBS is seen at the entrance of office building in Zurich

    By Jemima Kelly LONDON (Reuters) - Swiss bank UBS is leading a team of four of the world's biggest banks developing a system to enable financial markets to make payments and settle transactions quickly using blockchain technology. UBS has developed a "Utility Settlement Coin" (USC), which is a digital cash equivalent …

  • South Korea delays decision on Google's request for mapping data Reuters

    South Korea said on Wednesday it will extend a review of a request by Google Inc in June for permission to take government mapping data out of the country for use in servers worldwide, with a decision …

    A photo illustration shows Google Maps application displayed on a smartphone in Seoul

    South Korea said on Wednesday it will extend a review of a request by Google Inc in June for permission to take government mapping data out of the country for use in servers worldwide, with a decision due by Nov. 23. Google, whose corporate parent is Alphabet Inc, has said it needs to put the data on servers worldwide …

  • Apologetic Lloyds CEO plans to stay amid private life scrutiny Reuters

    Lloyds Banking Group Chief Executive Antonio Horta-Osorio apologized to staff on Wednesday for damaging the bank's reputation but said he intended to continue running the British lender following press …

    Lloyds Chief Executive Antonio Horta-Osorio speaks at the British Chambers of Commerce annual meeting in central London

    Lloyds Banking Group Chief Executive Antonio Horta-Osorio apologized to staff on Wednesday for damaging the bank's reputation but said he intended to continue running the British lender following press scrutiny of his private life. "... please be assured that I am as committed as ever to leading the Group forward to deliver …

  • Tesla touts world's fastest production car Reuters

    By Alexandria Sage and David Shepardson SAN FRANCISCO/WASHINGTON (Reuters) - Tesla Motors Inc crowned itself the maker of the world's fastest production car on Tuesday, saying a new version of its Model …

    People visit a Tesla Model S car during the Auto China 2016 in Beijing

    By Alexandria Sage and David Shepardson SAN FRANCISCO/WASHINGTON (Reuters) - Tesla Motors Inc crowned itself the maker of the world's fastest production car on Tuesday, saying a new version of its Model S all-electric sedan can accelerate from 0-60 miles per hour in just 2-1/2 seconds. Tesla Chief Executive Elon Musk …

  • VW, suppliers settle dispute after marathon talks Reuters

    By Andreas Cremer BERLIN (Reuters) - Volkswagen and two of its parts suppliers on Tuesday resolved a contract dispute that had hit output at more than half of the carmaker's German plants and threatened …

    A general view shows the Volkswagen production site in Wolfsburg

    By Andreas Cremer BERLIN (Reuters) - Volkswagen and two of its parts suppliers on Tuesday resolved a contract dispute that had hit output at more than half of the carmaker's German plants and threatened to undermine its recovery from a diesel emissions scandal. After more than 20 hours of negotiations that went on through …

  • Mobileye, Delphi to develop self-driving system Reuters

    (Reuters) - Israeli driving assistant software maker Mobileye NV said on Tuesday it was developing a self-driving system with Delphi Automotive Plc that will be ready for production by 2019. Mobileye …

    A device, part of Mobileye driving assist system, is seen on the dashboard of a vehicle in Jerusalem

    (Reuters) - Israeli driving assistant software maker Mobileye NV said on Tuesday it was developing a self-driving system with Delphi Automotive Plc that will be ready for production by 2019. Mobileye had cut its ties with Tesla Motors Inc last month after the electric carmaker's autopilot system faced scrutiny from regulators …

  • Samsung Electronics says to sell third Tizen OS smartphone in India Reuters

    South Korean tech giant Samsung Electronics Co Ltd said on Tuesday it will start selling its third smartphone powered by the company's own Tizen mobile operating system in India next week. The Z2 phone, …

    The logo of Samsung Electronics is seen at its headquarters in Seoul

    South Korean tech giant Samsung Electronics Co Ltd said on Tuesday it will start selling its third smartphone powered by the company's own Tizen mobile operating system in India next week. The Z2 phone, equipped with a 4-inch screen and India-specific features such as a safety mode for motorcyclists, will be the cheapest …

  • Oil tumbles, Treasuries rise as investors await Fed Reuters

    By Hilary Russ NEW YORK (Reuters) - Oil prices fell more than 3 percent on supply worries, while U.S. Treasuries rose and stocks flattened on Monday as markets awaited more clarity later this week from …

    A screen displays the Dow Jones Industrial Average after the end of trading on the floor of the New York Stock Exchange

    By Hilary Russ NEW YORK (Reuters) - Oil prices fell more than 3 percent on supply worries, while U.S. Treasuries rose and stocks flattened on Monday as markets awaited more clarity later this week from the Federal Reserve on when it might raise U.S. interest rates. An upbeat assessment of the U.S. economy from Fed Vice …

  • Oil down 3 percent as rally snaps on rising crude, China fuel exports Reuters

    By Barani Krishnan NEW YORK (Reuters) - Oil settled down more than 3 percent on Monday, retreating from last week's two-month highs, on worries about burgeoning Chinese fuel exports, more Iraqi and Nigerian …

    A pump jack is seen at sunrise near Bakersfield

    By Barani Krishnan NEW YORK (Reuters) - Oil settled down more than 3 percent on Monday, retreating from last week's two-month highs, on worries about burgeoning Chinese fuel exports, more Iraqi and Nigerian crude shipments and a rising U.S. oil rig count. China's July diesel and gasoline exports soared 181.8 percent and …