Oil heads for 7% weekly gain after Saudi attacks
Oil prices were on track for their biggest weekly jump since January, lifted by rising Middle East tensions after a key Saudi Arabian supply hub was knocked out by an attack last weekend.
Uber awaits renewal decision on vital London license, just five days before expiry
Uber is still waiting to see whether its license in London, which expires on Wednesday, will be renewed as the regulator, which previously stripped the taxi app of its right to operate in the city, remains tight-lipped about the decision.
Saudi Aramco books European naphtha for Asia after attacks
Saudi Aramco has booked at least 120,000 tonnes of naphtha for September loading from Europe in a rare move as it seeks to plug a supply gap following attacks on its oil facilities on Saturday, industry sources said.
Saudi Aramco confident Khurais full output to resume by end-September
Saudi Aramco is confident full production will resume by the end of September from Khurais, one of two oil sites attacked on Sept. 14, a company executive said on Friday.
Wall Street opens slightly stronger amid stimulus hopes, easing trade tensions
U.S. stocks opened marginally higher on Friday as an interest rate cut by China’s central bank and signs of co-operation on trade between the world’s two largest economies allayed concerns about a slowdown in global growth.
Commerzbank planning to cut 4,300 jobs as part of strategic review
Commerzbank announced on Friday it was planning to cut jobs and reduce branches as part of an overhaul and review of its strategy.
Trump tweetstorm hasn’t slanted view of Fed : Reuters poll
President Donald Trump’s barrage of tweets blasting the U.S. Federal Reserve appears to have been ignored by both Republicans and Democrats who largely see the central bank as neutral in its decision making, according to results of a new Reuters Ipsos …
Europe’s China telecoms gear ban would cost industry $3.5 billion: report
Replacing Chinese telecoms equipment would cost European telecom operators about $3.5 billion, a report by industry research firm Strand Consult predicted on Friday, far lower than the figure a lobby group came up with.
Fed’s Rosengren says interest rate cuts are ‘not costless’
Boston Federal Reserve Bank President Eric Rosengren, who dissented from the central bank’s decision to cut interest rates earlier this week, repeated on Friday that monetary stimulus was not needed for the U.S. economy and posed its own problems.
U.S. federal funds rate fell below top-end of Fed’s target
The average interest rate on what the banks charge each other to borrow reserves overnight on Thursday fell below the upper-end of the Federal Reserve’s target range for the first time this week in the aftermath of turmoil in money markets.
