Page 2689 - Business Finance
Oil prices edge up on decline in U.S. fuel inventories, looming Iran sanctions
SINGAPORE (Reuters) - Oil prices inched up on Thursday, extending solid gains from the previous session on a fall in U.S. crude inventories and expected disruptions to supply from Iran and Venezuela.
Asia stocks rise as trade optimism extends Wall Street's bull run
TOKYO (Reuters) - Asian stocks rose on Thursday as Wall Street hit record highs in the hope that the current North American Free Trade Agreement (NAFTA) negotiations will lead to a further easing of global trade tensions.
Pressures on Didi intensify after latest passenger slaying
SHANGHAI/BEIJING (Reuters) - China's largest ride-hailing company Didi Chuxing has suspended its carpooling service after a passenger was killed, and is likely to face tighter oversight that will squeeze driver numbers and extend customer waiting times.
Japan's Panasonic to move European headquarters to Amsterdam in October - Nikkei
(Reuters) - Panasonic Corp <6752.T> is to move its European headquarters from London to Amsterdam in October to avoid potential tax issues linked to Brexit, the Nikkei Asian Review said on Thursday.
Argentina asks early release of IMF funds to calm markets
President Mauricio Macri has asked the International Monetary Fund for an early release of funds from a $50 billion deal with the IMF to ease concerns that Argentina will not be able to meet its debt obligations for 2019. Macri said in a televised address yesterday that Argentina has agreed with the IMF "to advance all necessary funds to guarantee compliance with next year's financial program." Macri said that in the past week there have been "expressions of a lack of trust in the markets" about Argentina. He said the decision seeks to dispel any uncertainty, but he did not specify the amount or when the funds will be released. Argentina was forced to strike a deal with the IMF earlier this year after a sharp depreciation of its currency and a run on the peso. The three year stand-by financing deal is aimed at strengthening the South American country's weak economy and helping it fight inflation, which at 30 per cent per year, is one of the highest in the world. The Argentine currency
Exclusive: Venezuela's port woes stall oil exports to Rosneft - source
(Reuters) - The closing of a dock at Venezuela's main oil export port could delay as much as 5 million barrels in crude deliveries to Russian company Rosneft , further complicating oil-for-loan agreements between state-run PDVSA and Rosneft, a source said on Wednesday and internal PDVSA documents showed.
Exclusive: Venezuela's port woes stall oil exports to Rosneft -source
(Reuters) - The closing of a dock at Venezuela's main oil export port could delay as much as 5 million barrels in crude deliveries to Russian state-oil firm Rosneft , a source said on Wednesday and documents showed.
Wall St extends rally, tech leads S&P, Nasdaq to record highs
(Reuters) - Wall Street extended its rally on Wednesday, with the S&P 500 and the Nasdaq hitting record highs for the fourth straight session as technology companies pushed indexes higher and promising trade negotiations stoked investor sentiment.
Mexico should seek tariff exclusion before closing NAFTA - steel lobby
MEXICO CITY (Reuters) - Mexico should seek exclusion from U.S. tariffs on steel imports before closing the renegotiation of the North American Free Trade Agreement (NAFTA), the country's steel industry association CANACERO said in a statement on Wednesday.
S&P, Nasdaq hit new highs on trade optimism; tech climbs
NEW YORK (Reuters) - Wall Street extended its rally on Wednesday, with the S&P 500 and the Nasdaq hitting record highs for the fourth straight session as technology companies pushed indexes higher and promising trade negotiations stoked investor sentiment.
EPA should revoke Monsanto weed killer approval, groups tell U.S. court
(Reuters) - Environmental groups argued in federal appeals court on Wednesday the U.S. Environmental Protection Agency failed to analyse the risks Bayer AG Monsanto's dicamba-based weed killer posed to nearby crops before approving it in 2016.
Gehlot urges Raje government to reduce taxes on diesel
As the diesel price in Rajasthan hit Rs 74.23 per litre on Wednesday, former Chief Minister Ashok Gehlot urged the state government to reduce taxes on fuel so that farmers can breathe it easy.
Greaves Cotton to acquire majority control in EV company Ampere
Diversified engineering company Greaves Cotton Ltd on Wednesday said it will acquire 80 per cent stake in electric vehicles (EV) company Ampere Vehicles Pvt Ltd for Rs 152.50 crore in two stages.
Drones and stakeouts: how Tesla 'haters' put pressure on CEO Musk
SAN FRANCISCO/WASHINGTON (Reuters) - An online army of sceptics and amateur sleuths that has spent years promoting bets against Tesla Inc senses an opportunity to renew pressure on the electric carmaker after the failure of Chief Executive Elon Musk's plan to take it private.
Banking, financial relief measures announced for Kerala
The government on Wednesday took several measures on the banking and financial front, including concessional loan for rebuilding houses, to provide relief to the people in flood-ravaged Kerala.
Tech leads Wall St rally, S&P and Nasdaq hit new highs
(Reuters) - The S&P 500 and the Nasdaq hit record highs for the fourth straight session on Wednesday in a rally led by technology companies as investor sentiment was stoked by optimism over ongoing trade negotiations.
Oil rises to multi-week highs on U.S. stock draw, falling Iran exports
NEW YORK (Reuters) - Oil prices rose more than 1 percent on Wednesday, with Brent at its highest in seven weeks and U.S. crude touching a three-week peak, supported by a drawdown in U.S. crude and gasoline stocks and reduced Iranian crude shipments as U.S. sanctions deter buyers.
Indian Oil earmarks Rs 22,000-cr capex for FY19
Indian Oil Corporation (IOC) today said it has lined up Rs 22,000-crore capex plan for the current fiscal year and will commission the Ennore-Manali LNG pipeline on schedule by the end of the year. Sanjiv Singh, the chairman of the nation's largest oil marketing company, said the board has approved a capex plan of Rs 22,000 crore for FY19, of which around Rs 6,000 crore will be towards upgrading refineries to meet BS-VI emission norms. Addressing reporters after the the AGM here, Singh also said the company is confident of commissioning the over Rs 4,000-crore, the 1,170-km-long pipeline linking its Ennore LNP terminal near Chennai to Manali in 2018. The over Rs 5,000-crore LNG terminal at Ennore will be commissioned as schedule by October, he added. "More than 50 per cent work on the pipeline is already completed and we have tied up with all our target customers in Manali and most of them in Chennai region as well, Singh said. On crude imports from Iran, Singh said there .
UTI imbroglio: T Rowe Price settles out of court, withdraws petition from HC
US-based investor T Rowe Price today withdrew its petition filed in the Bombay High Court seeking a direction to the finance ministry and the markets watchdog SEBI to prevent the four state-owned shareholders from "scuttling" UTI's initial public offering plan. T Rowe Price, which is the single largest shareholder with 26 per cent stake in UTI Asset Management Company, had earlier this month moved the High Court seeking implementation of rules and regulations of the Securities and Exchange Board of India and extend the term of UTI's chief executive Leo Puri for another year to see the IPO through. It can be noted that earlier this month, Puri left the company on completion of his contract, saying he did not want to lead company if the majority of the shareholders do not wanted him in. When the petition came up for hearing today before bench of justices B R Gavai and M S Karnik, the company's lawyers said the parties had arrived at a consensus out of court and would hence like to .