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BAT agrees to buy Reynolds for $49 billion

By Paul Sandle LONDON (Reuters) – British American Tobacco has agreed a $49.4 billion takeover of U.S. rival Reynolds American Inc , creating the world's biggest listed tobacco company after it increased an earlier offer by more than $2 billion. BAT, which already owned 42 percent of Reynolds, will pay $29.44 in cash and 0.5260 BAT shares for each Reynolds share, it said, a 26 percent premium over the price of the stock on Oct. 20, the day before BAT's first offer was made public. Reynolds, the maker of Camel and …

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BAT agrees to buy Reynolds for $49 billion

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Oil ticks up on weaker dollar, U.S. production outlook caps gains

Oil prices edged higher on Wednesday with a weaker dollar underpinning the market, although gains were limited by expectations that U.S. producers would boost output. U.S. West Texas Intermediate (WTI) crude oil futures were trading up 16 cents at $52.64 per barrel at 0214 GMT. Brent crude futures, the international benchmark for oil prices, were up 21 cents $55.68 a barrel.

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Oil ticks up on weaker dollar, U.S. production outlook caps gains

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Oil price rally likely short-lived as OPEC deal not enough to reduce glut

“The cut by OPEC will be largely offset by increases in U.S. production where the rig count has already increased,” said India Oil Corp's Director of Finance A K Sharma. Higher oil prices and lower production costs are encouraging

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Oil price rally likely short-lived as OPEC deal not enough to reduce glut