U.S. Energy Secretary Perry says oil supply fluctuations not good for world economy
The United States’ message to other oil producing countries is that the world economy needs stable supplies of energy, U.S. Energy Secretary Rick Perry said on Wednesday.
Oil finds floor, stocks ease, sterling braces for wild swings
Oil prices bounced from multi-month lows on Wednesday but stocks fell as disappointing data heightened worries over slowing global growth, while the pound wavered as Prime Minister Theresa May faced the hard task of selling her Brexit deal.
U.S. consumer prices post largest rise in nine months
U.S. consumer prices increased by the most in nine months in October amid gains in the cost of gasoline and rents, pointing to steadily rising inflation that likely will keep the Federal Reserve on track to raise interest rates again next month.
Worried by oil slump, OPEC and partners discuss larger supply curbs: sources
OPEC and its partners are discussing a proposal to cut oil output by 1.4 million barrels per day (bpd), three sources familiar with the issue said, although Russia may not be on board for such a large reduction.
PG&E shares dive after utility flags impact from Camp fire
Shares of the utility PG&E Corp fell 18 percent after the company said if it was found liable for the Camp fire raging in California, the damages could be more than its insurance coverage and hurt cash flow and liquidity.
Futures up after October consumer prices rise as expected
U.S. stock index futures gained on Wednesday after U.S. consumer prices in October rose in line with expectations and added little pressure on the Federal Reserve for further interest rate hikes.
Macy’s boosts annual earnings forecast ahead of holiday season
Department store chain Macy’s Inc raised its annual earnings forecast on Wednesday, signaling a strong holiday shopping season ahead, as it benefits from a growing online business and a revamped loyalty program.
Ford, Walmart to collaborate on designing automated-vehicle delivery
Ford Motor Co , Walmart Inc and delivery service Postmates Inc will collaborate to design a service for delivering groceries and other goods to Walmart customers that could someday use autonomous vehicles, the companies said on Wednesday.
Samsung BioLogics’ listing under review after regulator says it breached accounting rules
South Korea’s top financial regulator said Samsung BioLogics Co Ltd had intentionally breached accounting rules ahead of its 2016 listing, leading to a suspension in trading of the biotech firm’s shares and a review of its listing status.
Bain Capital Ventures closes $1 billion fund amid venture fund-raising frenzy
Bain Capital Ventures, the venture capital division of the eponymous Boston-based investment firm, said it has raised a new $1 billion fund to invest in startups, adding to a year of big-dollar fund-raising by tech investors.
