U.S. oil producers shut offshore output as storm forms in Gulf of Mexico
Anadarko Petroleum Corp has joined major U.S. oil producers shutting production and withdrawing staff from offshore platforms in the U.S. Gulf of Mexico ahead of a storm threatening oil-producing areas.
Exxon evacuating workers from Gulf of Mexico platforms as storm nears
Exxon Mobil Corp on Wednesday said it has removed non-essential staff from three U.S. Gulf of Mexico platforms, but expected a storm forming in the Gulf to have little effect on its oil and gas production.
Stocks climb, dollar drops as Fed chair remarks boost rate-cut hopes
A broad index of world stock markets edged higher on Wednesday while the U.S. dollar fell as comments from Federal Reserve Chairman Jerome Powell bolstered expectations for an interest rate cut from the U.S. central bank this month.
Facebook currency project ‘cannot go forward’ until concerns addressed: Powell
U.S. Federal Reserve Chairman Jerome Powell said on Wednesday that Facebook’s plan to build a digital currency called Libra “cannot go forward” until serious concerns were addressed, piling further pressure on the controversial project.
Oil jumps 3% on U.S. crude stocks draw, Gulf of Mexico storm
Oil prices jumped 3% on Wednesday after U.S. crude inventories shrank more than expected and as major producers evacuated rigs in the Gulf of Mexico ahead of an expected storm.
Toyota to build new SUV, rather than car at Alabama plant
Toyota Motor Corp said on Wednesday it will build a new sport utility vehicle at a $1.6 billion joint venture assembly plant in Alabama rather than produce Corolla cars.
Skeptical Deutsche Bank investors to grill Sewing on revamp roadshow
Deutsche Bank shareholders will quiz Chief Executive Christian Sewing on how he plans to deliver on revenue growth targets during a global roadshow to win their backing for a 7.4 billion euro ($8.4 billion) ‘reinvention’ of the lender.
Legal expert Dagmar Valcarcel to join Deutsche Bank’s supervisory board: report
Dagmar Valcarcel, a legal expert, will join Deutsche Bank’s supervisory board, German newspaper Handelsblatt said on Wednesday without naming its sources.
Superdry sees long road to recovery, denies new boardroom rift
The founder of Superdry warned the revival of the struggling British fashion group would be a long haul after a 130 million pound ($161 million) charge for poorly performing stores pushed it into an annual loss, kicking its shares down.
S&P 500 hits 3,000 as Powell’s comment lifts rate cut hopes
The benchmark S&P 500 breached the 3,000 points mark for the first time on Wednesday, as hopes of an interest rate cut later this month were lifted by Federal Reserve chief Jerome Powell’s comment that the central bank would “act as appropriate” to sustain record U.S. growth.
