OPEC and its partners will fulfill their implementation of a deal to cut output, having already announced 60 to 70 percent of the promised curbs, Kuwait said. Countries including Saudi Arabia, the United Arab Emirates, Russia, Kuwait, Qatar and Iraq have announced cutbacks that account for the bulk of the deal reached last year, Kuwaiti Oil Minister Essam Al-Marzouk said Monday.
Day: January 10, 2017
VietJet Forecasts 30% Profit Rise Ahead of February Listing
VietJet Aviation Joint Stock Co., the Vietnam carrier known for its bikini-clad flight attendants, expects profit to surge 30 percent this year on rising passengers as it prepares for its Ho Chi Minh City Stock Exchange listing debut in February. A total of 23 overseas investors bought 66.5 million shares — equivalent to about 14 percent of VietJet — during a pre-listing stake sale last month, billionaire founder Nguyen Thi Phuong Thao said.
Tesco emerges as Christmas winner as UK grocery inflation returns – Kantar
Britain’s biggest supermarket chain Tesco recorded the fastest growing sales of the country’s four largest players in the Christmas quarter, as inflation returned to the grocery market after more than two years of falling prices. Market researcher Kantar Worldpanel said Tesco sales grew 1.3 percent during the 12 weeks to Jan. 1, outperforming no.2 chain Sainsbury’s , whose sales fell 0.1 percent, Asda , down 2.4 percent, and Morrisons , up 1.2 percent.
Specialty pharmacies say benefit managers are squeezing them out
From its storefront in Union City, New Jersey, Prime Aid Pharmacy caters to patients with a range of ailments, from rheumatoid arthritis to hepatitis C. The business prides itself on getting patients their necessary drugs, employs a staff that speaks 10 languages and delivers medications by car in New York and New Jersey. “Especially during the winter, when mail deliveries don’t always get there on time, it’s very important to have local delivery,” said Yana Shtindler, the pharmacy’s administrator.
Pen power: China closer to ballpoint success
It has sent rockets into space, produced millions of the world’s smartphones and built high-speed trains. But until now, one bit of manufacturing had perhaps unexpectedly eluded China: the ballpoint pen.
Australian Bank Shares Are Soaring So Fast, You Could Get a Nosebleed
One of the fastest rallies for Australian banks in six years is prompting fund managers to stop and catch their breath. Randal Jenneke of T. Rowe Price is pausing after moving overweight in the banking sector before the U.S. elections.
An $830,000 Horse, a Presidential Scandal and Samsung Succession
Samsung Group is getting pulled deeper into the scandal engulfing South Korea’s president with prosecutors homing in on whether an $830,000 horse and millions in other payments were made to smooth succession at the top of the country’s largest company. Special prosecutors summoned two top Samsung executives to answer questions Monday about the company’s role in an alleged influence-peddling scheme that has already led to President Park Geun-hye’s impeachment.
China Car Sales Climb at Fastest Pace in 3 Years on Tax Cut
Consumers in China bought passenger vehicles at the fastest pace in three years to take advantage of a tax cut on small-engine automobiles, boosting deliveries of automakers from General Motors Co. to Great Wall Motor Co.
Fund That Made Money on Treasuries Says Rally Is About to End
Prudential Plc’s Asian asset management unit, which profited from the rebound in 30-year Treasuries last month, has taken its money off the table with the view the three-week rally in U.S. government debt is coming to an end. Nicholas Ferres, who oversees multi-asset investments at Eastspring Investments in Singapore, unwound his holdings of 30-year bonds Friday and Monday, selling them at yields as low as 2.96 percent, after U.S. jobs and wage data backed the case for faster policy tightening.
Trump unfiltered: Tweets reveal his interests, insecurities
His message came at the start of one of the busiest weeks of Donald Trump’s transition to the White House. It’s a week when he and his team are preparing eight Cabinet picks for confirmation hearings, finalizing appointments and gearing up for his first news conference as president-elect.