Oil prices gain nearly 2% after drop in U.S. crude inventories
Oil prices rose nearly 2% on Wednesday after a larger-than-expected decline in U.S. crude stockpiles helped ease worries about weakening oil demand caused by the trade war between Washington and Beijing.
Financials, energy lead Wall Street bounce
U.S. stocks advanced on Wednesday, as gains in financial and energy shares helped equities recover from initial declines, but investors remained cautious about the potential for another flare-up in U.S.-China trade tensions.
Huawei plans high-end phone launch under cloud of Google ban
Huawei Technologies plans to forge ahead with the launch of new high-end smartphones in Europe even though it may not be able to offer Google’s official Android operating system and widely used apps such as Google Maps, company executives told Reuters….
Stocks rise as oil demand offsets recession fears; sterling tumbles
A gauge of equities worldwide rose on Wednesday as data showing strong demand for oil helped subdue recession jitters, while sterling tumbled as Britain’s prime minister moved to restrict parliamentary time before the country’s planned departure from t…
Fed’s Barkin says watching growth, monitoring impact of last rate cut
Richmond Federal Reserve President Thomas Barkin on Wednesday said he was closely watching developments around the outlook for economic growth but had yet to make up his mind on whether the economy needs another interest rate cut.
U.S. agriculture secretary pledges Trump will announce way to boost biofuel demand
President Donald Trump will announce a plan to boost demand for biofuels, which farmers and producers say has suffered from waivers the administration has issued exempting oil refiners from requirements to blend ethanol into the U.S. fuel supply, Secre…
Trump likely to unveil biofuel plan in ‘the next couple of weeks’: Agriculture Secretary
President Donald Trump is likely to announce a plan that aims to mitigate the impact of waivers granted to oil refineries on biofuel demand in the next couple of weeks, Agriculture Secretary Sonny Perdue said on Wednesday.
Apple’s data shows a deepening dependence on China as Trump’s tariffs loom
Tapping factories in Brazil and India has not lessened Apple Inc’s dependence on China, the company’s supply chain data shows, raising the stakes for the iPhone maker as U.S. President Donald Trump wages a trade war and promises more tariffs.
Tiffany profit tops estimates, Hong Kong and tourism hit sales
Luxury jeweler Tiffany & Co on Wednesday reported quarterly earnings that beat estimates on a drop in marketing costs even as sales were hurt by lower spending by Chinese tourists in the United States and political unrest in Hong Kong.
Privatize Petrobras? Lofty ambition, higher hurdles
Brazil’s influential finance minister has convinced President Jair Bolsonaro to consider the once-unthinkable step of privatizing state-owned oil company Petrobras , but stiff political opposition could stifle any effort to sell the country’s corporate…
