Oil prices dip as U.S. stockpiles seen rising
SINGAPORE (Reuters) – Oil prices dipped slightly on Tuesday but remained near a 2015 peak reached last week as expectations of another rise in U.S. stockpiles and near-record-high Saudi Arabian output were balanced by rising tension in the Middle East….
China overhauling IPO process, mulls foreign firms listing: report
SHANGHAI (Reuters) – China will switch to a “registration system” for initial public offerings (IPO), ending the current approval process, the official China Securities Journal reported on Tuesday, a day after parliament began reviewing draft changes t…
Business group sees thousands of U.S. jobs from Pacific trade deal
WASHINGTON (Reuters) – The 12-nation Pacific trade pact would create nearly a quarter of a million U.S. jobs due to increased foreign investment in the United States, a business group estimated on Monday, in the first look at the deal’s employment impa…
Wall Street rallies on China stimulus ahead of tech earnings
(Reuters) – Wall Street ended sharply higher on Monday after China moved to stimulate its slowing economy while investors bought up technology stocks on cautious optimism on upcoming earnings reports.
IBM sales fall for 12th quarter, currency weighs
(Reuters) – International Business Machines Corp reported a 12 percent fall in first-quarter revenue as the technology company continues to shed unprofitable businesses to focus on cloud-computing initiatives.
ECB’s Nowotny says impact of any Greek exit less now than before: TV
FRANKFURT (Reuters) – Were Greece to leave the euro, it would not have the same impact on the euro zone as it would have had two years ago, an ECB policymaker said on Monday, urging the Greek government to provide “numbers” to qualify for further aid.
Oil up on drop in U.S. crude stockpiles, Middle East tensions
NEW YORK (Reuters) – Oil prices ended in positive territory on Monday after a drop in stockpiles at the delivery point for U.S. crude in the second half of last week outweighed pressure from near record high production in Saudi Arabia.
U.S. and Japan narrow gaps substantially in trade talks: USTR Froman
TOKYO (Reuters) – The United States and Japan have made significant progress in trade talks over recent days, adding momentum to multilateral efforts toward a free-trade pact, U.S. Trade Representative Michael Froman said early on Tuesday.
U.S. court hears Chevron’s fraud claims in $9.5 billion Ecuador dispute
(Reuters) – Chevron Corp urged a U.S. appeals court on Monday to uphold a ruling finding that an American lawyer used corrupt means to secure a $9.5 billion pollution judgment in Ecuador.A lawyer for Chevron told the 2nd U.S. Circuit Court of Appeals i…
Morgan Stanley posts highest profit since financial crisis
(Reuters) – Wall Street investment bank Morgan Stanley reported its most profitable quarter since the financial crisis on Monday, boosted by higher revenue from trading bonds and equities.
