Finance

Finance

Tensions in Middle East hoist oil prices to largest weekly gain for months

September 20, 2019 By Florence Tan SINGAPORE (Reuters) – Oil prices were on track to jump more than 7% this week, their biggest weekly rise in months, as early trading on Friday saw gains extended on fresh Middle East tensions after a key Saudi Arabian supply hub was knocked out in an attack last weekend. […]

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Finance

China cuts new loan rate for second month but struggling economy likely needs more

September 20, 2019 SHANGHAI (Reuters) – China cut its new one-year benchmark lending rate for the second month in a row on Friday, a step by the central bank to try to wrestle down borrowing costs and support the economy as the Sino-U.S. trade war drags on. But the move was far more cautious than […]

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Finance

UK appeals for public help in setting post-Brexit trade with Japan

September 19, 2019 By Kylie MacLellan LONDON (Reuters) – The British government said on Friday it wanted to hear from businesses and members of the public what their priorities were for a post-Brexit trade deal with Japan. Japan is one of Britain’s biggest foreign investors, encouraged by successive British governments who have promised a business-friendly […]

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Finance

U.S. stock exchange competition to heat up in 2020 with new entrants

September 19, 2019 By John McCrank NEW YORK (Reuters) – At least three new U.S. stock exchanges are expected in 2020, executives from the companies said on Thursday, potentially lowering trading costs as the upstarts try to take business from the incumbents, while also adding complexity to the marketplace. There are currently 13 U.S. stock […]

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Finance

Main IKEA retailer expects to exceed renewable energy goal by year’s end

September 19, 2019 By Anna Ringstrom STOCKHOLM (Reuters) – Ingka Group, which owns most IKEA stores, will by year’s end to exceed its 2020 target to produce as much renewable energy as the energy it consumes, Ingka Chief Executive Jesper Brodin said on Thursday. Ingka Group has spent 2.5 billion euros ($2.8 billion) over the […]

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Finance

‘Very engaged’ Trump talks biofuels policy with U.S. oil-state senators

September 19, 2019 By Stephanie Kelly NEW YORK (Reuters) – President Donald Trump on Thursday discussed biofuels policy with senators from U.S. oil states, including Louisiana Senator Bill Cassidy, who said the president was engaged on the issue that has pitted Big Oil and Big Corn against each other. The oil industry is opposed to […]

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Finance

Private equity can still find ‘diamonds in the rough’: Apollo exec

September 19, 2019 By Svea Herbst-Bayliss and Lawrence Delevingne NEW YORK (Reuters) – Private equity billionaire Joshua Harris thinks there are still plenty of undervalued companies to improve and profit from, especially away from the public markets. “Certainly, this is not a value-oriented environment,” said Harris, senior managing director of Apollo Global Management, “but we’re […]

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Finance

Germany expects tough EU talks on energy taxes to counter climate change

September 19, 2019 BERLIN (Reuters) – Germany expects tough negotiations on the introduction of new energy taxes in the European Union, a senior official said on Thursday, as the bloc considers higher prices for carbon emissions as a way to achieve its climate protection targets. Over the last decade, EU countries have led a global […]

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Finance

Bank of Canada taps its financial markets leader as new deputy governor

September 19, 2019 By Fergal Smith TORONTO (Reuters) – The Bank of Canada appointed Toni Gravelle, who has been managing director of the central bank’s financial markets department, as a new deputy governor to replace the retired Lynn Patterson. Gravelle will join the governing council that makes interest rate decisions and will share responsibility for […]

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Finance

Oil prices edge up after turbulent week as Saudi Arabia reassures on output

September 19, 2019 By Florence Tan SINGAPORE (Reuters) – Oil prices edged higher in Asian trade on Thursday after days of turbulence, with markets soothed by Saudi Arabia’s pledge to restore full production by end-September at facilities knocked out in drone and missile attacks last weekend. Brent crude futures rose 24 cents to $63.84 a […]

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