Oil prices were stable on Monday on signs that OPEC-led production cuts were reducing global overproduction, although bloated inventories and rising output elsewhere were weighing on markets. Brent crude futures were trading at $56.72 per barrel at 0752 GMT, up 2 cents from their previous close.
Day: February 13, 2017
Billionaire Co-Founder Calls Off Battle With Infosys’ Board
Billionaire Narayana Murthy is calling off his fight with the board of Infosys Ltd., saying he’s confident the IT giant he co-founded will deal with the concerns raised about corporate governance. The conciliatory comments came after an intense confrontation that pitted the board, Chairman R. Seshasayee and Chief Executive Officer Vishal Sikka against a clutch of high-profile co-founders led by Murthy.
Berlin According To … Publicist Maxine Leonard: Never Watch TV in Your Hotel Room
Standing face-to-face with my hero Wong Kar-wai at the after after after party for the premiere of The Grandmaster . And sitting in the Residents Bar at the Regent Hotel, which holds about 15 people, when in walk the Rolling Stones, Daniel Day-Lewis and Paul Thomas Anderson.
Berlin Connects Refugees With Locals for Market Training, Movie Screenings
The festival is living up to its reputation as the most socially conscious annual film event. Says one refugee: “Here is safety and you can live in peace.”
China Shares Rise For 4th Session, Scale 2-Month High
China’s main stock indexes rose for their fourth straight day of gains on Monday to a fresh two-month high, as the materials sector underpinned the market on the back of strong commodities. The blue-chip CSI300 index rose 0.7 percent, to 3,436.28 points, while the Shanghai Composite Index gained 0.6 percent to 3,216.84 points.
Sanofi Agrees to Sell Five Over-the-Counter Drugs to Ipsen
Sanofi agreed to sell some over-the-counter products to Ipsen SA as it edges closer to completing a 22.8 billion-euro asset swap with Boehringer Ingelheim GmbH. Ipsen will pay 83 million euros for five products including Prontalgine, a painkiller, the Paris-based company said in a statement Monday.
Oil Holds Gains Near $54 as IEA Sees Record OPEC-Cut Compliance
Oil held gains near $54 a barrel after the International Energy Agency said OPEC achieved a record 90 percent initial compliance with its output-cut deal while demand grew faster than expected. Futures were little changed in New York after advancing 3.2 percent over the previous three sessions.
European Stocks Called Higher After Solid Asia Session
European stocks are expected to open higher Monday, kicking off a week that will focus on key corporate earnings and a series of central bank releases. European stocks are expected to open higher Monday, kicking off a week that will focus on key corporate earnings and a series of central bank releases and speeches amid increasing questions over the direction of monetary policy in both the U.S. and Europe.
German stocks – Factors to watch on February 13
The U.S. Federal Communications Commission said Friday that bidding in the wireless spectrum auction has ended at $19.6 billion, significantly less than many analysts had initially forecast. Ex-Volkswagen Chairman Ferdinand Piech, who resigned after a showdown with former chief executive Martin Winterkorn, has refused to testify to German lawmakers investigating a possible government’s role in the VW emissions scandal, according to his lawyer.
Adele just swore and restarted her Grammys performance after…
Adele gave an incredibly moving performance in honor of the late George Michael at the 2017 Grammys Sunday night, but she had a vocal slip-up that led her to stop and restart the performance mid-song, leaving viewers puzzled. The “Hello” singer performed Michael’s “Fastlove” in stripped-down fashion, with a string section behind her.
U.S. Senate Expected to Confirm Mnuchin as Treasury Secretary
The U.S. Senate is expected to confirm former Goldman Sachs banker and Hollywood financier Steven Mnuchin as Treasury secretary on Monday, returning a Wall Street veteran to the top U.S. economic and financial job for the first time in eight years. Mnuchin’s appointment to Treasury signals the Trump administration’s trust in bankers and other senior business executives after Democrat Barack Obama launched his presidency with career regulator Timothy Geithner running Treasury and a mandate to rein in Wall Street for its role in the 2007-2009 financial crisis.
More Than 160,000 Flee Overflowing Dam In Northern California
More than 160,000 people were ordered to evacuate in Northern California on Sunday night, over fears that the spillway at the Oroville Dam could break, potentially causing catastrophic flooding. Evacuated areas included the town of Oroville, at the base of the dam, and nearby Marysville and Yuba City.
China, HK Shares Up on Commodities Rally
Chinese stocks opened the week on a firm footing on Monday and were track for the fourth straight day of gains, with sentiment boosted by strong commodities, while the Hong Kong market hit four-month highs thanks to capital inflows from the mainland. China’s blue-chip CSI300 index rose 0.7 percent, to 3,436.51 points at the end of the morning session, while the Shanghai Composite Index gained 0.6 percent, to 3,216.83 points.
Trump, The FTC and Unleashing The U.S. Economy
After a stunning win in a change election, President Trump is off to a fast start implementing major change. The President and his administration are moving aggressively to implement pro-growth policies that will boost our economy after years of a sluggish recovery.
Rational on regulation
The first weeks of the Trump administration have not exactly been characterized by an excess of regular order. So there’s special reason to applaud a document it released that helps to make sense of one of the president’s controversial actions – an unprecedented executive order limiting regulation.