World + Economy

Iraqi Deputy Oil Minister Fayadh al-Nema talks to journalists before a meeting of OPEC oil ministers in Vienna

Exclusive: Iraq plans to sell oil through Iran if talks with Kurds fail

Reuters - By Stephen Kalin BAGHDAD (Reuters) - Iraq's government would consider selling crude through Iran should talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, a senior oi…

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  • Iraqi Deputy Oil Minister Fayadh al-Nema  talks to journalists before a meeting of OPEC oil ministers in Vienna
    Exclusive: Iraq plans to sell oil through Iran if talks with Kurds fail Reuters

    By Stephen Kalin BAGHDAD (Reuters) - Iraq's government would consider selling crude through Iran should talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, a senior oil …

    Iraqi Deputy Oil Minister Fayadh al-Nema  talks to journalists before a meeting of OPEC oil ministers in Vienna

    By Stephen Kalin BAGHDAD (Reuters) - Iraq's government would consider selling crude through Iran should talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, a senior oil ministry official in Baghdad told Reuters. Iraq's State Oil Marketing Organisation (SOMO) plans to hold talks with the …

  • Alstom says wins $2 billion U.S. train deal Reuters

    PARIS (Reuters) - French transport group Alstom said on Friday it had signed a 1.8 billion euro ($2 billion) deal to design and build 28 new high-speed trains for U.S. rail operator Amtrak. Under the …

    The logo of Alstom Group is seen at the company's headquarters after a news conference to present the company's full year to end-March 2015/16 annual results in Saint-Ouen, near Paris, France

    PARIS (Reuters) - French transport group Alstom said on Friday it had signed a 1.8 billion euro ($2 billion) deal to design and build 28 new high-speed trains for U.S. rail operator Amtrak. Under the deal, Alstom said it would also provide long-term technical support and spare parts. The trains will run on the Northeast …

  • BlackBerry to raise $605 million from shareholder Fairfax, others Reuters

    (Reuters) - Troubled smartphone maker BlackBerry Ltd said it would raise about $605 million by selling convertible debentures to shareholder Fairfax Financial Holdings Ltd and other investors. The new …

    File photo of Blackberry sign seen in front of their offices on the day of their annual general meeting for shareholders in Waterloo

    (Reuters) - Troubled smartphone maker BlackBerry Ltd said it would raise about $605 million by selling convertible debentures to shareholder Fairfax Financial Holdings Ltd and other investors. The new debt that BlackBerry plans to issue will have a coupon of 3.75 percent and will be due in November 2020. If all of the …

  • For the Fed's Yellen 'conventional' unconventional policy is enough Reuters

    By David Chance WASHINGTON (Reuters) - For all the talk of a radical shift in central banking policy, from the permanent use of negative rates to helicopter money drops, Federal Reserve Chair Janet Yellen …

    Federal Reserve Chair Janet Yellen holds a news conference in Washington

    By David Chance WASHINGTON (Reuters) - For all the talk of a radical shift in central banking policy, from the permanent use of negative rates to helicopter money drops, Federal Reserve Chair Janet Yellen appears to believe she can tackle any future downturn using the tools currently at her disposal. Speaking in Jackson …

  • Four U.S. airlines fined for inaccurate information about bumping compensation Reuters

    WASHINGTON (Reuters) - The U.S. Department of Transportation on Friday fined Alaska Airlines, American Airlines , Southwest Airlines , and United Airlines for providing inaccurate information to passengers …

    An Alaska Airlines plane is pictured with a paint job to mark the centennial of The Boeing Company in Seattle, Washington

    WASHINGTON (Reuters) - The U.S. Department of Transportation on Friday fined Alaska Airlines, American Airlines , Southwest Airlines , and United Airlines for providing inaccurate information to passengers about how much compensation they could potentially receive for being denied boarding against their will and for lost, …

  • Lotte vice chairman found dead amid probe; suicide suspected Reuters

    By Hyunjoo Jin and Se Young Lee SEOUL (Reuters) - One of the top executives at South Korea's Lotte Group was found dead on Friday, a suspected suicide, hours before he was to be questioned by prosecutors …

    The body of Lotte Group Vice Chairman Lee In-won is wheeled into an ambulance on a stretcher at a hospital in Yangpyeong

    By Hyunjoo Jin and Se Young Lee SEOUL (Reuters) - One of the top executives at South Korea's Lotte Group was found dead on Friday, a suspected suicide, hours before he was to be questioned by prosecutors conducting a criminal probe into the country's fifth-largest conglomerate. Lotte Group confirmed the death of Vice …

  • Economists see ride-hailing industry as ripe for competition Reuters

    By Heather Somerville SAN FRANCISCO (Reuters) - Chinese powerhouse Didi Chuxing's acquisition of Uber Technologies Inc's China operations marked the biggest move yet toward consolidation in an industry …

    A driver leaves the office of taxi-hailing service Uber Inc during a driver recruitment event in Hong Kong

    By Heather Somerville SAN FRANCISCO (Reuters) - Chinese powerhouse Didi Chuxing's acquisition of Uber Technologies Inc's China operations marked the biggest move yet toward consolidation in an industry that many investors and Silicon Valley pundits view as a winner-take-all game. On the day the Didi deal was announced …

  • Mediaset shares lower as Vivendi spat sours Reuters

    Shares in Mediaset were lower in early trade after a war of words with France's Vivendi over the sale of the Italian broadcaster's pay TV unit escalated. On Thursday Vivendi said the binding share-swap …

    File photo of the Mediaset tower is seen at their headquarters in Cologno Monzese, near Milan

    Shares in Mediaset were lower in early trade after a war of words with France's Vivendi over the sale of the Italian broadcaster's pay TV unit escalated. On Thursday Vivendi said the binding share-swap agreement it signed in April with Mediaset for its Premium pay-TV unit could be void after Sept. 30. Mediaset immediately …

  • Taiwan's CTBC Financial, China CITIC Bank cancel deals Reuters

    By Faith Hung and Shu Zhang TAIPEI/BEIJING (Reuters) - CTBC Financial Holdings <2891.TW>, parent of Taiwan's top credit card issuer, and Chinese state-backed lender China CITIC Bank Corp <601998.SS> have …

    File photo of man standing in front of CITIC bank's branch in Beijing

    By Faith Hung and Shu Zhang TAIPEI/BEIJING (Reuters) - CTBC Financial Holdings <2891.TW>, parent of Taiwan's top credit card issuer, and Chinese state-backed lender China CITIC Bank Corp <601998.SS> have canceled investments in each other amid fresh cross-strait political tensions. It is the first deal collapse since …

  • India's Infosys says seeing client-specific softness after Brexit Reuters

    NEW DELHI (Reuters) - Indian IT services provider Infosys Ltd is seeing some 'softness' in clients after Britain voted in June to leave the European Union, a top company executive said during …

    An employee walks past a signage board in the Infosys campus at the Electronics City IT district in Bangalore

    NEW DELHI (Reuters) - Indian IT services provider Infosys Ltd is seeing some 'softness' in clients after Britain voted in June to leave the European Union, a top company executive said during an analyst meet on Friday. Infosys will be in a better position by October to evaluate the impact of this on its earnings …

  • China, U.S. still in talks on trade pact despite challenges: Chinese commerce official Reuters

    BEIJING (Reuters) - China and the United States are still in frequent discussion about a bilateral trade pact, despite a challenging global trade environment, a Chinese commerce official said on Thursday. …

    A shipping container is unloaded at a port area in Lianyungang

    BEIJING (Reuters) - China and the United States are still in frequent discussion about a bilateral trade pact, despite a challenging global trade environment, a Chinese commerce official said on Thursday. China is keen to maintain open markets for its goods as its economy grows at its slowest pace in 25 years, but it faces …

  • Toshiba: Japan trunk bank sues it for $120 million over accounting scandal Reuters

    TOKYO (Reuters) - Toshiba Corp said on Friday a Japanese trust bank was suing it for 12 billion yen ($119 million) for losses stemming from the company's $1.3 billion accounting scandal last year. …

    A man walks past Toshiba Corp logo displayed on one of its television sets in Tokyo, Japan

    TOKYO (Reuters) - Toshiba Corp said on Friday a Japanese trust bank was suing it for 12 billion yen ($119 million) for losses stemming from the company's $1.3 billion accounting scandal last year. Japan Trustee Services Bank had filed the suit with the Tokyo District Court on Aug. 9, the technology and industrial conglomerate …

  • China urges Japan to be 'constructive' at G20 summit Reuters

    Japan should play a "constructive" role at the upcoming G20 summit in the Chinese city of Hangzhou because cooperation is in the interests of all parties, China's top diplomat told a visiting Japanese …

    A man rides an electronic bike past a billboard for the upcoming G20 summit in Hangzhou

    Japan should play a "constructive" role at the upcoming G20 summit in the Chinese city of Hangzhou because cooperation is in the interests of all parties, China's top diplomat told a visiting Japanese envoy. Ties between Asia's two largest economies have long been overshadowed by arguments over their painful wartime history …

  • Global markets subdued ahead of Yellen speech, healthcare stocks dip Reuters

    Federal Reserve Chair Janet Yellen will deliver the keynote speech on Friday, but she may struggle to convince financial markets she can steer a divided U.S. central bank to raise interest rates at least …

    Traders work on the floor of the New York Stock Exchange (NYSE) in New York City

    Federal Reserve Chair Janet Yellen will deliver the keynote speech on Friday, but she may struggle to convince financial markets she can steer a divided U.S. central bank to raise interest rates at least once in 2016 after it started the year with four hikes on its radar. "We still have got this disconnect between markets …

  • No specific action on OPEC freeze discussed yet: Saudi energy minister Reuters

    By Nichola Groom LOS ANGELES (Reuters) - Saudi Arabian Energy Minister Khalid Al-Falih does not believe it is necessary for any "significant intervention" in oil markets at this time, he told Reuters …

    Gas flame is seen in the desert near the Khurais oilfield

    By Nichola Groom LOS ANGELES (Reuters) - Saudi Arabian Energy Minister Khalid Al-Falih does not believe it is necessary for any "significant intervention" in oil markets at this time, he told Reuters following a speech on Thursday.

  • Exchanges call for regulatory clarity over blockchain use Reuters

    A lack of clarity over regulation is holding back the development of blockchain technology for cutting the cost of share trading, the world's trade body for exchanges said on Thursday. The World Federation …

    Styrofoam bull figurines are pictured at the Frankfurt's stock exchange

    A lack of clarity over regulation is holding back the development of blockchain technology for cutting the cost of share trading, the world's trade body for exchanges said on Thursday. The World Federation of Exchanges (WFE) asked its members about their plans to use blockchain, a tamper-proof shared ledger that can automatically …

  • Deutsche Boerse, LSE submit merger to EU regulators for approval Reuters

    Deutsche Boerse and the London Stock Exchange Group have submitted their $29 billion merger deal to European Union competition regulators ahead of a Sept. 28 deadline for a preliminary review. The European …

    The plaque of the Deutsche Boerse AG is pictured at the entrance of the Frankfurt stock exchange

    Deutsche Boerse and the London Stock Exchange Group have submitted their $29 billion merger deal to European Union competition regulators ahead of a Sept. 28 deadline for a preliminary review. The European Commission's antitrust department, whose approval is needed for the deal to proceed, has set a provisional deadline …

  • Majority of analysts see BOJ easing in September, changing price goal wording Reuters

    By Kaori Kaneko and Sumanta Dey TOKYO/BENGALURU (Reuters) - A majority of economists expects the Bank of Japan will ease policy further next month, a Reuters poll found, while many respondents suspect …

    Businessman walks past the Bank of Japan (BOJ) building in Tokyo

    By Kaori Kaneko and Sumanta Dey TOKYO/BENGALURU (Reuters) - A majority of economists expects the Bank of Japan will ease policy further next month, a Reuters poll found, while many respondents suspect a change in its inflation target terminology is likely. Faced with stubbornly low inflation and new fiscal spending by …

  • Chinese telecom firm ZTE books 9.3 percent rise in first half profit on 4G growth Reuters

    Chinese telecom equipment maker ZTE Corp on Thursday booked a 9.3 percent rise in first-half net profit as China's adoption of fourth-generation (4G) mobile technology offset the impact of restrictions …

    The company name of ZTE is seen outside the ZTE R&D building in Shenzhen

    Chinese telecom equipment maker ZTE Corp on Thursday booked a 9.3 percent rise in first-half net profit as China's adoption of fourth-generation (4G) mobile technology offset the impact of restrictions on its U.S. operations. Profit reached 1.8 billion yuan ($270 million) in January-June, the firm said in a filing at the …

  • Brussels rebuffs U.S. attack on EU tax investigations Reuters

    By Julia Fioretti BRUSSELS (Reuters) - The European Commission rebuffed an attack by the U.S. Treasury on its investigations into alleged sweetheart tax deals between companies such as Apple and McDonald's …

    A sign for the U.S. fast food restaurant chain McDonald's is seen outside one of their restaurants in Sint-Pieters-Leeuw, near Brussels

    By Julia Fioretti BRUSSELS (Reuters) - The European Commission rebuffed an attack by the U.S. Treasury on its investigations into alleged sweetheart tax deals between companies such as Apple and McDonald's and European governments, saying there was no anti-U.S. bias. The U.S. Treasury Department published a white paper …