Big banks score win as U.S. regulator proposes easing post-crisis derivatives rules
A U.S. banking regulator on Tuesday proposed easing a rule requiring banks to set aside cash to safeguard derivatives trades between affiliates, marking one of the biggest wins for Wall Street lenders under the business-friendly Trump administration.
UK urges collective response to attacks on Saudi oil facilities
British Prime Minister Boris Johnson told Saudi Arabia’s Crown Prince Mohammed bin Salman on Tuesday that there should be a collective response to attacks on the country’s oil facilities.
Saudi energy minister says no urgent OPEC meeting: Al Arabiya TV
There will be no urgent OPEC meeting, the Saudi energy minister Prince Abdulaziz bin Salman said, Al Arabiya television reported on Tuesday after the weekend attacks on its facilities.
U.S. Senators urge FTC to scrutinize multi-billion dollar pharma mergers
U.S. presidential hopeful Amy Klobuchar on Tuesday led a letter by U.S. senators that urged the Federal Trade Commission (FTC) to closely scrutinize pharma mergers, raising concerns about the potential harm to customers.
Costly Saudi defenses prove no match for drones, cruise missiles
Billions of dollars spent by Saudi Arabia on cutting edge Western military hardware mainly designed to deter high altitude attacks has proved no match for low-cost drones and cruise missiles used in a strike that crippled its giant oil industry.
Saudi Arabia to restore oil output fully by end of September: energy minister
Saudi Arabia will restore its lost oil production by the end of September and has managed to recover supplies to customers to the levels they were at prior to weekend attacks on its facilities by drawing from its huge oil inventories.
U.S. official says Washington believes Saudi attacks came from southwest Iran
The United States believes the attacks that crippled Saudi Arabian oil facilities last weekend originated in southwestern Iran, a U.S. official told Reuters on Tuesday, giving an assessment that further increases tension in the Middle East.
Oil plummets 6% as Saudi oil minister says production fully restored
Oil prices dropped about 6% on Tuesday after Saudi Arabia’s energy minister said the kingdom has fully restored its oil production hit by an attack this weekend that shut 5% of global oil output.
Pence upbeat that Congress will pass USMCA trade deal this year
U.S. Vice President Mike Pence on Tuesday said he believed Congress would act to pass a new U.S.-Mexico-Canada free trade agreement this year, providing important momentum for the U.S. economy.
Head of Russian shipping giant Sovcomflot to step down -deputy PM’s office
The chief executive of Russian state-controlled shipping giant Sovcomflot, Sergei Frank, will step down after 15 years in office, the office of Deputy Prime Minister Maxim Akimov said in a statement on Tuesday.
