WTO warns of trade crisis as German car bosses face U.S. tariff talks
The global system of international trade is in crisis, the World Trade Organization (WTO) warned on Tuesday, as German car bosses gathered in Washington hoping to stave off potential tariffs on U.S. imports of luxury cars.
Saudi energy minister says OPEC’s deal to cut output uncertain: BBG
Saudi oil minister said on Tuesday it was too soon to say if OPEC and its allies would cut production as the terms of a deal remain unresolved, Bloomberg reported.
UAE says all must be on board in adjusting oil output
United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui said on Tuesday that an adjustment in global oil output is required and all producers must be on board.
Thomas Cook debt-holders scramble for protection against default
The cost of insuring debt issued by Thomas Cook against default hit a record high and its bonds tumbled on Tuesday, as worries about the travel company’s borrowings deepened following its second profit warning in as many months last week.
Mastercard to incur $650 million fourth-quarter charge for EU antitrust fine
Mastercard will incur a $650 million charge in the fourth quarter of this year because of a substantial fine related to a second EU antitrust investigation, the world’s second largest payments network operator said on Tuesday.
Mastercard sees EU antitrust cases resolved in first quarter of 2019
Mastercard said on Tuesday it expected a resolution to two EU antitrust investigations in the first quarter of 2019.
OPEC works on deal to cut output, still needs Russia on board
OPEC and Russia moved closer on Wednesday to agreeing cuts in oil production from next year despite pressure from U.S. President Donald Trump to reduce the price of crude.
GM moves to challenge Ford in U.S. commercial fleet sales
General Motors Co is intensifying its attack on rival Ford Motor Co’s lead in sales to U.S. commercial fleets to prop up profit margins amid weakening consumer demand, according to executives at the No. 1 U.S. automaker.
Visa, Mastercard propose merchants’ tourist card fee cut to end EU probe
Visa and Mastercard have offered to cut merchants’ charges for non-EU credit and debit cards by at least 40 percent to end an EU antitrust investigation, part of a decades-long crackdown by the European Commission against such fees.
Ryanair sidesteps unions by ramping up ultra-low-cost unit
Ryanair is ramping up a new subsidiary with weaker labor rights to better compete in eastern Europe, infuriating staff and unions by bypassing concessions granted during a year of industrial strife.
