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Oil falls as glut, profit-taking beat back optimism over OPEC meet
By Osamu Tsukimori TOKYO (Reuters) – Crude prices fell on Tuesday as continued worries over a global oil glut and profit-taking on gains of nearly 3 percent from the previous session beat down upwards momentum from a possible meeting of oil producers. Venezuelan Oil Minister Eulogio del Pino said on Monday that a meeting between OPEC and non-OPEC countries may take place “in the coming... [Read more]
Asia shares up as yield hunt drives record flows, pound slips
Asian shares stood atop one-year peaks on Tuesday as a global search for yield drove a record inflow into emerging market funds, while the pound slipped to one-month lows on speculation of further policy easing in the UK. Analysts at Bank of America… Go here to see the original: Asia shares up as yield hunt drives record flows, pound slips Read More →
Monte dei Paschi woes add up to large fees for investment banks
By Pamela Barbaglia and Anjuli Davies LONDON (Reuters) – Italy's troubled lenders are offering lucrative opportunities for investment banks, with Monte dei Paschi di Siena set to pay some of the highest fees in Europe this year to arrange its high stakes rescue plan. The emergency … Here is the original: Monte dei Paschi woes add up to large fees for investment banks Read More →
U.S. challenge to Anthem-Cigna deal gets new judge
The judge overseeing the U.S. government's bid to stop health insurer Anthem Inc from buying Cigna Corp , who had been seen as favorable for the deal, has relinquished the case. Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia was named to hear the case after Judge John Bates asked that it be reassigned. Jackson was nominated to the bench in 2011 by President Barack... [Read more]
Iran nuclear pact opponents lobby in U.S. against Boeing, Airbus deals
By Patricia Zengerle WASHINGTON (Reuters) – As the U.S. Treasury Department decides whether to license sales of Boeing Co and Airbus commercial aircraft to Iran, opponents of last year's nuclear pact with the Islamic republic have launched a lobbying campaign against the deals. The international agreement to curb Iran's nuclear program… Originally posted here: Iran nuclear pact... [Read more]
Away from spotlight, U.S. manufacturers battle back from ‘China shock’
By Howard Schneider HICKORY, North Carolina (Reuters) – As furniture makers left Hickory and headed to China at the start of the century, the local community college shuttered its courses in furniture production, abandoning an industry that had sustained this North Carolina community for generations. The U.S. economy lost almost a third of its manufacturing jobs from 2000 to 2010 and the Republican... [Read more]
New U.S. mortgage rules aim to stop wrongful foreclosures
The U.S. agency charged with protecting consumers' finances approved rules on Thursday that will help prevent wrongful home foreclosures, as the regulator continues to press on with reforming the country's massive lending market. The rules by the Consumer Financial Protection Bureau (CFPB), created in the aftermath of the U.S. housing bust that began in 2006, build on current regulations... [Read more]
U.S. crude remains below $40 as oversupply weighs
Oil prices remained weak on Wednesday, with U.S. crude below $40 per barrel and Brent under $42, as fuel oversupply and stuttering economic growth weighed on markets, although prices did receive some support from a weaker dollar. U.S. West Texas Intermediate (WTI) crude futures were trading at $39.54 per barrel at 0651 GMT (2:51 a.m. ET), slightly above their last close and well below the $40 marker... [Read more]
The ‘what if’ spooking markets: policy success
Perhaps the biggest shock to world markets now would be if central banks met their inflation goals. After nearly 10 years of near zero or even negative interest rates and trillions of dollars in new Here is the original: The ‘what if’ spooking markets: policy success Read More →
U.S. authorities subpoena Goldman in 1MDB probe: WSJ
Goldman received the subpoenas earlier this year from the U.S. Department of Justice (DoJ) and the Securities and Exchange Commission (SEC), the Journal reported, citing a person familiar with the matter. The authorities also want to interview current and former Goldman employees in connection with the inquiries, but none of those meetings had occurred by Friday, WSJ said. The Department of Justice... [Read more]