U.S. crude stocks fall sharply, products surge
(Reuters) – U.S. crude stocks fell last week as refineries hiked output, while gasoline stocks increased and distillate inventories rose, the Energy Information Administration said on Thursday.
Lone Star picked as top candidate to buy Portugal’s Novo Banco
LISBON (Reuters) – U.S. private equity firm Lone Star is the leading candidate to buy Novo Banco, the bank carved out of collapsed Banco Espirito Santo (BES), Portugal’s central bank said in a statement.
Constellation profit beat clouded by Trump tax proposals
(Reuters) – Beer and wine maker Constellation Brands Inc reported a higher-than-expected quarterly profit, but investors remained jittery about President-elect Donald Trump’s proposals to tighten cross-border trade.
UK, China, South Africa downgrade calls loom for Moody’s
LONDON (Reuters) – Moody’s is likely to make key rating calls on Britain, China and South Africa among others this year as rising political risk and debt levels push the number of countries on a downgrade warning back to a record high.
Monsanto swings to profit on higher South America demand
(Reuters) – U.S. seeds and agrochemicals company Monsanto Co , which is in the process of being bought by Germany’s Bayer AG for $66 billion, swung to a quarterly profit, helped by higher demand from South America.
Apple’s App Store generated $20 billion for developers in 2016
(Reuters) – Apple Inc said on Thursday its App Store generated $20 billion for developers in 2016, a 40 percent increase from 2015, helped by the popularity of games such as Pokemon Go and Super Mario Run and increased revenue from subscriptions.
China’s choices narrowing as it burns through FX reserves to support yuan
SINGAPORE (Reuters) – As China’s foreign exchange reserves threaten to tumble below the critical $3 trillion mark, the biggest fear for investors is not whether Beijing can continue to defend the yuan but whether it will set off a vicious cycle of more…
OPEC oil output falls from record high ahead of planned cuts: Reuters survey
LONDON (Reuters) – OPEC’s oil output in December fell from a record high ahead of a deal to cut production, a Reuters survey found on Thursday, helped by attacks on Nigeria’s oil industry and top exporter Saudi Arabia trimming exports.
Walgreens profit beats estimates on PBM partnerships
(Reuters) – Walgreens Boots Alliance Inc reported a better-than-expected quarterly profit as recent partnerships with pharmacy benefit managers (PBMs) and insurance companies helped boost sales of prescription drugs as well as non-drug items.
Oil prices rise as Saudi Arabia discusses supply cuts
LONDON (Reuters) – Oil prices rose on Thursday after Saudi Arabia started talks with customers about a reduction in crude sales to support a plan by OPEC to reduce global supply.
