Oil to average just over $40 a barrel in 2016: Reuters poll
(Reuters) – Oil prices will average just over $40 a barrel this year due to subdued demand and the likelihood a tentative agreement by leading producers to freeze output will do little to drain a supply glut, a Reuters poll showed on Monday.
Debt swaps become a tough sell for cash-strapped U.S. energy firms
NEW YORK (Reuters) – Highly-leveraged U.S. energy companies are struggling to carry out debt swaps as part of their survival strategy because plummeting oil and gas prices make investors either avoid such deals or demand tougher terms.
Putin summons top Russian oilmen on Tuesday: sources
MOSCOW (Reuters) – President Vladimir Putin has called for a meeting with top managers of Russia’s leading oil producers on Tuesday, which is is expected to be dominated by low oil prices and taxation, industry sources said on Monday.
Sharp liabilities list covered worst-case scenarios: source
TOKYO (Reuters) – Sharp Corp’s list of liabilities that prompted Taiwan’s Foxconn to suspend signing a takeover deal was an unverified study of worst-case scenario risks, rather than liabilities requiring disclosure, a source briefed on the matter said…
In slump, oil firms turn to labs, data centers for help
GRAND FORKS, N.D. (Reuters) – In a basement lab of a North Dakota research center, Beth Kurz and an assistant are peering through a scanning electron microscope, studying samples from the state’s vast Bakken shale oil formation.
New Year hangover: Strains show in China’s factory heartland
DONGGUAN, China (Reuters) – Millions of migrant workers streaming back to China’s industrial heartland after the long lunar New Year break are facing an uncertain future, as smaller factories in particular struggle to cope with anemic orders and rising…
Starbucks cafes to open in Italy in early 2017
NEW YORK (Reuters) – Starbucks Corp , the world’s biggest coffee chain, said on Sunday that Italian businessman Antonio Percassi would open the first Starbucks cafe in Milan in early 2017, bringing the brand to one of the top coffee-consuming nations i…
Valeant CEO Pearson to return effective immediately, results delayed
NEW YORK (Reuters) – Valeant Pharmaceuticals International said on Sunday that Chief Executive Officer Michael Pearson would return from medical leave effective immediately, and it postponed the release of fourth-quarter results planned for Monday.
EPA requests information from Mercedes-Benz over emission levels
FRANKFURT (Reuters) – Daimler on Sunday said the United States Environmental Protection Agency (EPA) had requested information from its luxury car brand Mercedes-Benz to explain emissions levels in some of its cars.
Central banks near policy limits but back in focus after G20
FRANKFURT/TOKYO (Reuters) – The widely predicted failure of G20 leaders to agree on bold new steps to reinvigorate the world economy at a meeting in Shanghai this weekend puts the onus firmly back on central bankers.
