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Oil prices rise in anticipation of planned OPEC-led production cut

Oil prices rose to their highest level since October on Tuesday as the market priced in a potential output cut led by producer cartel OPEC, although analysts warned that a failure to agree a cut could lead to a ballooning supply overhang by early 2017. U.S. West Texas Intermediate (WTI) crude futures were up 44 cents, or 0.9 percent, at $48.68 a barrel. The Organization of the Petroleum Exporting Countries (OPEC) is trying by Nov. 30 to bring its 14 member states and non-OPEC producer Russia to agree …

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Oil prices rise in anticipation of planned OPEC-led production cut

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Citi and JPMorgan top list of globally systemic banks

By Huw Jones LONDON (Reuters) – Citi has joined JPMorgan at the top of global regulators' list of systemically important banks, replacing HSBC and meaning the U.S. bank will have to hold extra capital from 2019 to help preserve financial stability. The group of 20 economies (G20) agreed after the 2007-09 financial crisis that top banks, whose size and complexity mean a collapse could wreak havoc in markets, should hold extra capital, according to the level of risk they present. In the annual update of rankings published on Monday by the…

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Citi and JPMorgan top list of globally systemic banks

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Sneakers show limits of trade policy in reviving jobs for Trump

Consider the sneaker industry, one of the first to move to Asia because of the sharply lower cost of production in China and Vietnam. Nike Inc and its smaller, privately held rival New Balance Shoes Inc split over the question of whether the United States should back the Trans Pacific Partnership (TPP) trade deal.

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Sneakers show limits of trade policy in reviving jobs for Trump