U.S., Japan may need more tools to shore up banking system: Fed’s Rosengren
The United States and Japan may need to shore up bank oversight to prepare for economic downturns, the head of the Federal Reserve Bank of Boston warned on Friday.
Australia’s Qantas directs flights away from Strait of Hormuz
Australia’s flag carrier, Qantas Airways Ltd, said on Friday that its flights over the Middle East would avoid the Strait of Hormuz and Gulf of Oman following the downing of a U.S. surveillance drone in the region.
America is trying to create ‘Iran phobia’: Iran’s defence minister
The United States is trying to create “Iran phobia”, Iran’s defence minister Amir Hatami said on Friday, according to the Iranian Labour News Agency (ILNA).
KLM avoiding parts of Iranian airspace
Air France-KLM’s Dutch subsidiary KLM is avoiding flying over parts of Iran as a precautionary measure, a spokesman said on Friday, confirming a report by the Netherlands’ state broadcaster NOS.
Oil slips, but still propelled to gain for week as Mideast tensions grow
Oil prices reversed earlier gains on Friday but benchmark Brent crude was still set for its first weekly gain in five weeks amid rising tensions in the Middle East and on hopes for a drop in U.S. interest rates that may stimulate global growth.
Foxconn picks chip-unit head for chairman, as Gou seeks Taiwan presidency
Apple Inc supplier Foxconn chose chip-unit boss Liu Young-way as chairman on Friday to succeed Terry Gou, who is preparing to contest Taiwan’s presidential elections next year.
Dollars in the detail: banks pan for gold in ‘data lakes’
From sending special offers on restaurants to burger-loving current account holders to selling anonymized credit card records, banks are racing to monetize the huge troves of data they hold.
Exclusive: Exxon’s $53 billion Iraq deal hit by contract snags, Iran tensions – sources
Just weeks ago, U.S. energy giant ExxonMobil looked poised to move ahead with a $53 billion project to boost Iraq’s oil output at its southern fields, a milestone in the company’s ambitions to expand in the country.
Foxconn’s new chairman says no plan to increase production capacity outside China
The new chairman of Foxconn said on Friday the Apple Inc supplier had no plan to increase production capacity outside China at the moment.
North Korea has more than sanctions to overcome for foreign investment: report
A historic visit by Chinese President Xi Jinping this week may have bolstered Kim Jong Un’s hopes that economic relief may be coming soon, but a new report reveals North Korea’s road to international investment may be blocked by more than sanctions.
