Category Archives: Markets & Economy

Asian shares advance following encouraging US jobs report

By ELAINE KURTENBACH

Share prices were higher in Asia on Monday, lifted by encouraging employment data from the U.S. that took the Standard & Poor’s 500 index to its third straight weekly gain on Friday despite weakness earlier in the week.

Number of Turkish Airlines passengers rise 8.3 pct

The total number of passengers Turkish Airlines carried from Jan-Nov rose 8.3 percent, compared to the same period last year, Turkey’s flag-carrier has said.

According to a statement sent to Turkey’s Public Disclosure Platform (KAP), the airline carried more than 63.1 million passengers in the first 11 months of the year.

Turkey, EU ‘look to build better ties’

Senior officials from Turkey and the EU held a high-level Economic Dialogue meeting on Dec. 8, saying they seek to improve ties, boost economic performance, and resolve major common issues after a rocky period in relations.

Saudi and Egypt lead Mideast market rally

DUBAI: Major Gulf stock markets rose on Sunday in line with strength in global bourses at the end of last week, with Saudi Arabia and Egypt leading.

Global Economists: End All Investment in Fossil Fuels

To hear Wall Street tell it: if you want to get anything done, you’ve got to make it profitable. But the obverse is true as well: if you want to end something, make it unprofitable.

Hospital operators in merger talks to form U.S. industry leader: WSJ

Reuters Staff

NEW YORK (Reuters) – Ascension Health and Providence St. Joseph Health are in talks about a merger between the two Catholic non-profits that would create the largest U.S. hospital chain, the Wall Street Journal reported on Sunday, citing people familiar with the discussions.

New Zealand Names Adrian Orr as New Reserve Bank Governor

By Matthew Brockett

New Zealand named Adrian Orr as its new central bank governor.

Exclusive: U.S. mall owner GGP rejects Brookfield Property’s $14.8 billion offer – sources

Carl O’Donnell, Greg Roumeliotis

NEW YORK (Reuters) – GGP Inc (GGP.N), one of the largest owners and operators of U.S. shopping centers, has rejected a $14.8 billion buyout offer from its biggest shareholder, Brookfield Property Partners LP (BPY.O), people familiar with the matter said on Sunday.

Japan big manufacturers’ mood improves in October-December: government

Reuters Staff

TOKYO (Reuters) – Large Japanese manufacturers turned more optimistic about economic conditions in the October-December quarter, a government survey showed on Monday, in another upbeat sign for an economy on a record run of growth.

Bitcoin futures make firm debut, dollar holds gains ahead of Fed

Swati Pandey

SYDNEY (Reuters) – Futures in bitcoin, which has taken global financial markets by storm, swung above their launch price, while the dollar kept gains in Monday’s Asian session on expectations the Federal Reserve will stick to its tightening path.

Asia Stocks Mixed in Subdued Trading; Yen Declines: Markets Wrap

By Adam Haigh

Stocks in Asia were mixed in subdued trading as investors deferred placing bets following the recent run-up to record highs and ahead of a Federal Reserve meeting this week. The yen fell to its lowest in a month.

Kuwait Says Global Oil Cuts Can Halt If Market Balances by June

By Wael Mahdi and Mohammed Sergie

OPEC and its global allies including Russia may end their production cuts before 2019 if the crude market re-balances by June, Kuwait’s oil minister said.

Iraq and Iran sign Kirkuk oil swap deal

Reuters Staff

BAGHDAD (Reuters) – Iraq has agreed to swap up to 60,000 barrels per day of crude produced from the northern Iraqi Kirkuk oilfield for Iranian oil, Iraqi Oil Minister Jabar al-Luaibi said on Saturday.

South Korea’s Hyundai says faces headwinds from weaker yen next year

Hyunjoo Jin

SEOUL (Reuters) – South Korean automakers face a major headwind from a weakening Japanese yen, which will boost rivals like Toyota Motor Corp. (7203.T) next year, a Hyundai Motor (005380.KS) think tank said.

Tax-loss selling to pressure 2017’s losers in December

Chuck Mikolajczak

NEW YORK (Reuters) – Stocks that have been lackluster so far in 2017 are unlikely to see their fortunes reversed in the final month of the year, as investors engage in tax-harvesting practices before the new year.

Bitcoin drops after dramatic gains ahead of futures launch

Jemima Kelly, Gertrude Chavez-Dreyfuss

LONDON/NEW YORK (Reuters) – Bitcoin lost almost a fifth of its value in 10 hours on Friday, having surged more than 40 percent in the preceding 48 hours, sparking fears the market may be heading for a price collapse.

Strong U.S. job growth in November bolsters economy’s outlook

Lucia Mutikani

WASHINGTON (Reuters) – U.S. job growth increased at a strong clip in November, painting a portrait of a healthy economy that analysts say does not require the kind of fiscal stimulus that President Donald Trump is proposing, even though wage gains remain moderate.

Teva Considers 10,000 Job Cuts

By Ruth David and Manuel Baigorri

Teva Pharmaceutical Industries Ltd., the debt-ridden Israeli drugmaker, is considering cutting as many as 10,000 jobs as new Chief Executive Officer Kare Schultz seeks to pare costs, according to people with knowledge of the matter.

The Solar Tech That Is Making Cleaner Oil

By Zainab Calcuttawala

It’s clear: fossil fuel majors from around the world are preparing to redefine their core competency from oil and gas extraction to “energy” provision over the next few decades. In the meantime, the biggest players are working on getting their oil operations on the green side.

U.S. Shale Cautious As Oil Majors Invade Texas

By Nick Cunningham

Shale drillers are starting to show some caution when it comes to their pace of drilling, but some of the oil majors are still increasing their efforts in the shale patch.

Chevron announced a 2018 capital spending program on Wednesday, which detailed spending cuts for the fifth consecutive year. One of the big reasons why Chevron slashed spending yet again is because of the completion of some massive, high-profile LNG export projects in Australia. But the oil major is also trying to chart a careful course amid uncertainty about oil prices.

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