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Russia Says OPEC+ Could Boost Supply More Than 1 Million Barrels

(Bloomberg) -- OPEC and its allies could boost oil production by more than the 1 million barrels a day agreed last month if needed, Russia’s Energy Minister Alexander Novak said. “I can’t rule out that if there is a need for more than 1 million barrels we will be able to quickly discuss it all together and make all necessary decisions,” Novak told reporters in Moscow. OPEC+ has “all needed tools,” if necessary, he said. Oil prices have remained near the...
Posted on: Jul 13, 2018 15:26:23 Read More

FTSE gets sterling boost as earnings shuffle into view

By Kit Rees LONDON (Reuters) - Britain's leading share index rose on Friday, buoyed by a weaker pound which slipped after U.S. President Donald Trump threw cold water on a hopes for a U.S. trade deal. The blue chip FTSE 100 index was up 0.6 percent at 7,697.20 points by 0845 GMT, while mid caps also gained 0.6 percent. President Trump directly criticised Prime Minister Theresa May's Brexit strategy, saying her proposals had probably killed off hope of a U.S. trade deal and that she ...
Posted on: Jul 13, 2018 09:40:27 Read More

Siemens to unveil updated strategy on August 2

FRANKFURT (Reuters) - German engineering group Siemens (DE:SIEGn) said it would present an updated strategy when it published its quarterly financial results on Aug. 2. "CEO Joe Kaeser and CFO Ralf P. Thomas will explain our Q3 FY 2018 financial results and will outline a strategy update," it said in an invitation send to journalists. A person familiar with the matter told Reuters last month that the group's new corporate strategy included plans to trim the number of industrial divis...
Posted on: Jul 13, 2018 07:35:20 Read More

London mayor says anti-Trump protests must be peaceful

LONDON (Reuters) - Protests in London against the visit by President Donald Trump must be "peaceful and good-spirited", London mayor Sadiq Khan said on Thursday after the U.S. leader landed in the British capital. "My message to those coming to the protests in London is that this must be peaceful and good-spirited. To those intent on causing trouble or breaking the law, I simply say: you are not welcome," he said in a statement. Khan, a member of Britain's opposition Labour Party who has clash...
Posted on: Jul 12, 2018 15:26:11 Read More

Nestle sells small New Zealand candy brands in latest divestment

ZURICH (Reuters) - Nestle (S:NESN) is selling some small New Zealand candy brands, including Mackintosh's toffees and Black Knight licorice, to Australia's Quadrant Private Equity, the latest example of the world's biggest food company tidying up its portfolio. "Following a review of Nestle's confectionery business in Australia and New Zealand, Nestle is looking to focus on its major chocolate, baking and medicated lozenge brands in New Zealand," Nestle said in a statement on Thursday. It said...
Posted on: Jul 12, 2018 12:00:10 Read More

Oil claws back some losses as Libyan exports to resume

By Christopher Johnson LONDON (Reuters) - Oil prices rallied on Thursday, recouping some ground following sharp losses the previous session after Libya said it would resume oil exports. Benchmark Brent crude oil (LCOc1) rose $1.37, or almost 1.9 percent, to a high of $74.77 a barrel before easing back to trade around $74.50 by 0820 GMT. On Wednesday, Brent had slumped $5.46 or 6.9 percent. U.S. light crude (CLc1) gained 25 cents to $70.63 a barrel, after falling 5 percent the previous session...
Posted on: Jul 12, 2018 09:49:01 Read More

Thyssenkrupp chairman rules out sale of elevator unit - Die Zeit

FRANKFURT (Reuters) - Thyssenkrupp's (DE:TKAG) supervisory board chairman lashed out at activist shareholders following the resignation of Chief Executive Heinrich Hiesinger, saying in an interview that the group had no plans to sell its prized elevators unit. "Crown jewels ... are only sold in times of need. There is no need (at Thyssenkrupp). And there are no plans to divest our best business," Ulrich Lehner told German weekly Die Zeit in an interview....
Posted on: Jul 11, 2018 12:17:19 Read More

Oil falls after Trump threatens to escalate trade war with new tariffs

TOKYO (Reuters) - Oil prices fell on Wednesday, with Brent dropping by more than $1 at one point, after U.S. President Donald Trump threatened to levy new trade tariffs on China. The spectre of tariffs on a further $200 billion worth of Chinese goods sent commodities lower along with stock markets, with trade tensions between the world's two biggest economies intensifying. Brent crude futures (LCOc1) were down 75 cents, or 1 percent, at $78.11 a barrel by 0308 GMT, having fallen as low as $77....
Posted on: Jul 11, 2018 07:37:58 Read More

Gold Remains Lower After Jobs Report

Investing.com - Gold prices remained lower on Friday as the U.S. dollar weakened and U.S. trade tariffs against China went into effect. Comex gold futures for August delivery decreased 0.16% to $1,256.80 a troy ounce as of 10:24 AM ET (14:24 GMT). Trade conflict between the two biggest economies in the world began in force on Friday, when U.S. tariffs on $34 billion worth of Chinese goods went into effect at 12:01 AM ET (04:01 GMT), with more tariffs expected in the coming weeks. Chi...
Posted on: Jul 6, 2018 14:59:05 Read More

FTSE inches higher, shrugging off trade tensions

By Kit Rees LONDON (Reuters) - The UK's top share index rose on Friday, shrugging off any worries over global trade after U.S. tariffs on Chinese goods took effect. The blue chip FTSE 100 (FTSE) index was up 0.1 percent at 7,612.14 points by 0909 GMT, while mid caps (FTMC) rose 0.3 percent higher. The U.S. imposed tariffs on $34 billion in Chinese imports, with Beijing saying it had no choice but to respond in kind. While the uncertainty surrounding the tariffs and their impact on growth has...
Posted on: Jul 6, 2018 12:58:56 Read More

Pound to rally after UK leaves EU, say FX strategists - Reuters poll

By Jonathan Cable LONDON (Reuters) - Sterling won't move much in the run-up to Britain's departure from the European Union in March next year but will gain ground on the U.S. dollar afterwards, a Reuters poll of foreign exchange strategists predicted. As foreseen in numerous Reuters polls, the pound sank after the surprise June 2016 referendum result when Britons voted to part ways with the EU. But three-quarters of over 50 respondents to an extra question said sterling is unlikely to set a n...
Posted on: Jul 6, 2018 09:47:45 Read More

China leads rebound by Asia shares as U.S. tariffs kick in

By Andrew Galbraith and Hideyuki Sano SHANGHAI/TOKYO (Reuters) - Asian stocks bounced back from 9-month lows in volatile trade on Friday after Washington slapped tariffs on Chinese imports, a move many investors fear could be the start of a full-scale trade war between the world's two largest economies. Spread-betters forecast a rise of 0.5-0.6 percent when Britain's FTSE (FTSE), France's CAC (FCHI) and Germany's DAX (GDAXI) open on Friday. Mainland Chinese shares led Asia's recovery, partly ...
Posted on: Jul 6, 2018 07:20:03 Read More

Saudi Arabia Lowers Some Oil Prices After Trump's Tweets

(Bloomberg) -- Saudi Arabia cut pricing for August sales of its light oil grade to Asia as the world’s biggest crude exporter is increasing production to assure buyers there is sufficient supply following U.S. President Donald Trump’s demands that OPEC do more to stabilize oil markets. Oil extended losses after state-owned Saudi Arabian Oil Co. cut most pricing for Asian, European and U.S. markets. The company, known as Saudi Aramco, cut its official selling prices for Arab Lig...
Posted on: Jul 5, 2018 15:03:16 Read More

European shares advance as U.S. tariff suspension hopes boost autos

LONDON (Reuters) - European shares rose in early deals on Thursday as hopes over a softening in U.S. trade rhetoric lifted shares in car makers, though trading remained cautious ahead of a U.S. deadline to impose tariffs on Chinese goods. The pan-European STOXX 600 (STOXX) index was up 0.5 percent by 0724 GMT, while Germany's exporter-heavy DAX (GDAXI) rose 1.1 percent, supported by autos, and Britain's FTSE 100 (FTSE) inched 0.3 percent higher. European stocks have traded in a narrow range th...
Posted on: Jul 5, 2018 09:24:12 Read More

Forex - Dollar Slips as Trade Tariff Deadline Nears

Investing.com - The dollar edged lower against a basket of the other major currencies on Thursday, a day before the U.S. and China were to hit each other with import tariffs, escalating a trade spat that many investors fear will hurt global growth. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was down 0.11% to 94.09 by 03:36 AM ET (07:36 AM GMT). Investors remained cautious ahead of Friday’s deadline for the U.S. to i...
Posted on: Jul 5, 2018 08:05:26 Read More

Glencore unit gets U.S. subpoena on compliance with money-laundering laws

(Reuters) - Commodities trader and miner Glencore (LON:GLEN) Plc said a subsidiary had received a U.S. Department of Justice subpoena requesting documents and records on compliance with the Foreign Corrupt Practices Act and U.S. money-laundering statutes. Shares in Glencore, a major exporter of Nigerian and Venezuelan crude, fell more than 10 percent in early London trade. The company was the top loser on the British bluechip index. The documents requested from subsidiary Glencore Lt...
Posted on: Jul 3, 2018 09:23:28 Read More

Asian shares battered by China turbulence as trade war anxiety heightens

By Tomo Uetake TOKYO (Reuters) - Chinese stocks went into a tail spin on Tuesday as turbulence gripped equity markets in Asia, which sank to nine-month lows amid heightened anxiety a bitter trade dispute between the United States and major economies could derail global growth. Speculation was rife China's central bank was intervening in the currency market to staunch losses and prevent a potentially destabilising sell-off in the yuan, while stocks came off a searing sell-off in the morning. C...
Posted on: Jul 3, 2018 07:46:49 Read More

Oil Prices Fall as Investors Take Profit on Escalating Output Concerns

Investing.com - Oil prices headed lower on Monday as concerns over rising output convinced traders to take profit on the back of strong gains that took U.S. crude to a three-and-a-half year high last week. New York-traded West Texas Intermediate crude futures fell 32 cents, or about 0.43%, to $73.83 a barrel by 10:37AM ET (14:37GMT). Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., traded down $1.21, or 1.5%, to $78.02. U.S. President Donald Trump ...
Posted on: Jul 2, 2018 16:37:12 Read More

Stocks - Tesla, Dell Jump in Pre-Market, Walgreens, Netflix Decline

nvesting.com - Stocks in focus in pre-market trade Monday: • Tesla (TSLA) stock rose 5.25% by 8:35 AM ET (12:35 GMT) as the firm reportedly hit its target production pace of 5,000 Model 3s per week just shortly after its June 30 deadline. The firm is expected to give an update on second quarter delivery and production numbers later this week. • Walgreens (WBA) lost 0.6% as Mizuho Securities downgraded the company to neutral from buy and cut its price target to $64...
Posted on: Jul 2, 2018 13:12:02 Read More

European shares fall as trade worries, German politics bite

LONDON (Reuters) - European shares opened lower on Monday as on-going worries about the U.S. trade policies and concerns about German Chancellor Angela Merkel's coalition weighed on sentiment. The pan-European STOXX 600 (STOXX) was down about 1.2 percent by 0730 GMT in line with Germany's trade-sensitive DAX. (GDAXI) In London, the FTSE 100 was down 1.1 percent and British gambling technology company Playtech (L:PTEC) posted the worst performance, losing over 20 percent after it disa...
Posted on: Jul 2, 2018 08:03:28 Read More