U.S. oil boom delivers surprise for traders – and it’s costly
The world’s biggest oil traders are counting hefty losses after a surprise doubling in the price discount of U.S. light crude to benchmark Brent in just a month, as surging U.S production upends the market.
AirAsia mulls dual Airbus jet order but how much will it pay?
AirAsia is discussing the possible purchase of another 100 Airbus A321neo jets as the company’s chief executive officer, Malaysian entrepreneur Tony Fernandes, and Airbus go down to the wire in parallel negotiations for an expanded order for larger A3…
S&P 500 at five-month high, but banks weigh after results
U.S. stocks rose slightly on Friday, putting the S&P 500 at its highest closing level in more than five months, as gains in industrials and other areas offset a drop in financials after results from three of the big banks mostly disappointed.
Republican Senator Rubio slams lifting of U.S. ban on China’s ZTE
Republican U.S. Senator Marco Rubio criticized on Friday the decision by the United States to lift a ban on suppliers selling to ZTE Corp <000063.SZ), allowing China’s second-largest telecommunications equipment maker to resume business.
Papa John’s to remove founder from promotions; Yankees cuts ties
Papa John’s International Inc will remove founder John Schnatter from its promotions, the pizza chain said on Friday, and baseball team New York Yankees suspended business relationships with the company.
Citigroup executives see better growth ahead, but not yet
Citigroup Inc is still on track to hit its goals for efficiency and revenue growth, executives said on Friday, as analysts pressed them to explain how those expectations line up with second-quarter results.
‘Together Against Trump’, thousands protest peacefully in London
Chanting “Donald Trump has got to go,” tens of thousands of protesters marched through London on Friday waving banners and banging pots to demonstrate against the U.S. president on his first official visit to Britain.
J&J vows to overturn $4.7 billion talc verdict but experts see hurdles
Johnson & Johnson has vowed to appeal a $4.7 billion verdict awarded to 22 women who claim asbestos-contaminated talc in the company’s products gave them ovarian cancer by arguing the plaintiffs’ science was flawed and the case should not have been heard in Missouri.
U.S. stocks rise on industrials; dollar flattens
The benchmark S&P 500 index hit a more than five-month high on Friday on gains in industrial stocks and energy companies, while the safe-haven U.S. dollar flattened after touching a two-week high.
Facebook, Twitter, Alphabet to testify at U.S. House hearing
The U.S. House Judiciary Committee will hold a hearing on Tuesday to take testimony from Facebook Inc, Alphabet Inc’s YouTube unit and Twitter Inc on whether social media companies are filtering content for political reasons, the committee chairman sai…
