Oil drops to lowest since OPEC deal, U.S. crude below $50/bbl
NEW YORK (Reuters) – Oil fell about 2 percent on Thursday in heavy trade, extending the previous session’s slump to prices not seen since an OPEC-led pact to cut production was agreed, as record U.S. crude inventories fed doubts about the effectiveness…
Wall Street ends up slightly; energy shares rebound
NEW YORK (Reuters) – A late rebound in energy shares helped U.S. stocks end a choppy session a tad higher on Thursday ahead of the U.S. monthly jobs report.
Akzo Nobel rejects $22 billion PPG bid, looks to spin off chemicals
AMSTERDAM (Reuters) – Dutch paints and coatings maker Akzo Nobel NV rejected a 21 billion euro ($22 billion) bid from larger U.S. rival PPG Industries Inc on Thursday, saying instead it wanted to “unlock value” by spinning off its chemicals business….
Russia’s Putin to meet ExxonMobil President: Kremlin spokesman
MOSCOW (Reuters) – Russia’s President Vladimir Putin was scheduled to meet president of oil major ExxonMobil Darren Woods on Thursday, Kremlin spokesman Dmitry Peskov said.
ECB to sit tight ahead of high-risk elections
FRANKFURT (Reuters) – The European Central Bank is set to keep monetary policy on hold on Thursday as it casts a nervous eye ahead to high-risk elections in France and the Netherlands during an upsurge in populist sentiment that threatens to derail the…
Trump to meet with U.S. community bankers on regulatory costs
WASHINGTON (Reuters) – President Donald Trump will meet with Main Street community bankers on Thursday to learn more about their difficulties in complying with the tougher Dodd-Frank financial regulations enacted after the 2007-2009 financial crisis.
Royal Caribbean cuts South Korean sites from China cruises
BEIJING/SHANGHAI (Reuters) – Royal Caribbean Cruises Ltd will remove visits to South Korean ports from its China cruises, the firm said in a statement, amid rising tension between the two countries over Seoul’s deployment of a U.S. missile defense sys…
China’s MOFCOM says opposes U.S. sanctions on its firms under U.S. laws
HONG KONG (Reuters) – China’s Ministry of Commerce (MOFCOM) said on Thursday it is opposed to the United States sanctioning Chinese firms under its domestic laws, and that it hoped that country would handle ZTE Corp’s $892 million settlement case “appr…
Toshiba’s Westinghouse brings in bankruptcy lawyers; disclosure deadlines loom
NEW YORK/TOKYO (Reuters) – U.S. nuclear firm Westinghouse Electric Co LLC has hired bankruptcy attorneys, in a sign that owner Toshiba Corp is more seriously weighing a Chapter 11 filing as an option to help it rein in a multibillion dollar financial …
Foxconn not favored bidder for Toshiba’s chip unit due to China link: sources
TOKYO (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker, is not a favored bidder for Toshiba Corp’s memory chip business due to its close ties with China, sources with direct knowledge of the deal said.
