Washington finds unlikely ally in OPEC as biofuels debate rages
NEW YORK (Reuters) – The Obama administration has found an unlikely ally in its efforts to keep pushing more biofuel into the nation’s gasoline supply: OPEC.
The U.S. oil fracker’s dilemma: crouch or pounce?
HOUSTON (Reuters) – U.S. shale oil producers, having weathered the worst price plunge in their industry’s brief history, now face a dilemma: whether to stay in a defensive crouch after slashing their rig fleets, or start drilling more wells to capture …
Nvidia says it sees revenue from cloud computing at $1 bln within two-three years
TAIPEI (Reuters) – Chipmaker Nvidia Corp said it expects cloud computing revenue to hit $1 billion in the next two to three years, as demand for big data analysis drives growth in graphics chips.
Japan May final manufacturing PMI 50.9, back in expansion after rocky April
TOKYO (Reuters) – Japanese manufacturing activity expanded in May for the first time in two months as domestic orders and output rose, suggesting the economy may be grinding higher again after faltering in April.
China HSBC PMI at 49.2 in May, contracts third month, export orders near two-year low
BEIJING, (Reuters) – Activity in China vast factory sector shrank for a third consecutive month in May as export orders contracted at the sharpest rate in nearly two years, a private survey showed on Monday, suggesting China remains locked in an econom…
GE launches sales process for U.S. lending units
NEW YORK (Reuters) – General Electric Co has launched the sales process for a roughly $40 billion portion of its U.S. commercial lending assets as a part of its broad retreat from its finance businesses, sources familiar with the situation said on Sund…
Citigroup seen shutting Banamex USA unit: WSJ
NEW YORK (Reuters) – Citigroup Inc. is expected to close its Banamex USA unit after government authorities began probes of possible violations of anti-money laundering laws, the Wall Street Journal said on its website on Sunday.
GE launches sales process for U.S. lending units
NEW YORK (Reuters) – General Electric Co has launched the sales process for a roughly $40 billion portion of its U.S. commercial lending assets as a part of its broad retreat from its finance businesses, a source familiar with the situation said on Sun…
Greece, creditors agree on need for quick deal as talks continue
ATHENS (Reuters) – Greece and its European creditors agreed on the need to reach a cash-for-reforms deal quickly as Athens missed a self-imposed Sunday deadline for reaching an agreement to unlock aid, sources close to the talks said.
OPEC likely to keep output unchanged at June 5 meeting: delegates
VIENNA (Reuters) – OPEC is likely to keep its output target unchanged when it meets on Friday because the global oil market appears to be in good shape and prices are expected to firm up from current levels, a senior Gulf OPEC delegate told Reuters.
