Shutdown bites economy, U.S. Coast Guard, as talks to end impasse stall

Steve Holland, David Morgan WASHINGTON (Reuters) - The U.S. economy is taking a larger-than-expected hit from the partial government shutdown, White House estimates showed on Tuesday, as contractors and even the Coast Guard go without...

China signals more stimulus as economic slowdown deepens

Kevin Yao BEIJING (Reuters) - China on Tuesday signaled more stimulus measures in the near term as a tariff war with the United States took a heavy toll on its trade sector and raised the...

China’s trade faces rising uncertainties this year: official

BEIJING (Reuters) - China’s trade faces rising uncertainties this year, a commerce ministry official said on Wednesday. Ren Hongbin, an assistant minister at the commerce ministry, made the comment at a news conference. At the same...

Etihad proposes to invest in Jet Airways at 49 percent discount: report

(Reuters) - Etihad Airways has offered to pick up shares of debt-laden Indian carrier Jet Airways Ltd (JET.NS) at a 49 percent discount and to immediately release $35 million after certain conditions are met,...

U.S. union boss heads to oil contract talks after win for steelworkers

Erwin Seba HOUSTON (Reuters) - Buoyed by concluding a big pay raise for steel workers last month, a United Steelworkers union top negotiator squares off on Wednesday against oil companies seeking to win a 24...

USTR promises exclusion process for higher tariffs if China talks fail

David Lawder WASHINGTON (Reuters) - U.S. Trade Representative Robert Lighthizer has assured lawmakers that companies will be able to request exclusions on tariffs on $200 billion worth of goods under discussion with Beijing if talks...

Netflix, China boost Wall Street as investors shrug off Brexit vote

April Joyner NEW YORK (Reuters) - U.S. stocks rose on Tuesday as technology and internet stocks gained on Netflix Inc’s (NFLX.O) plans to raise fees for U.S. subscribers and hopes of more stimulus for China’s...

Oil Rises As OPEC Cuts Take Effect

•    Iraq’s oil production topped 4.6 million barrels per day (mb/d) in late 2018, roughly double production levels from a decade earlier. •    Iraq is the second largest oil producer in OPEC, and holds the...

Asia shares subdued after May’s Brexit vote defeat, pound steadies

Daniel Leussink TOKYO (Reuters) - Asian shares took a breather on Wednesday after rallying the previous day on Chinese stimulus hopes, with investors assessing Brexit options after British lawmakers trounced Prime Minister Theresa May’s deal...

Lebanon’s Central Bank takes new measure to protect currency peg

This comes against the backdrop of President Michel Aoun attempting to alleviate concerns over the state of Lebanon's coffers and its ability to meet its debt obligations. by Georgi Azar -Source: Annahar BEIRUT: Lebanon's Central Bank...

How Supermajors Are Transforming The Permian

By Haley Zaremba The Permian Basin was once a hotbed of small, independent prospectors, wide-eyed wildcatters, and small companies hoping to strike it rich. Now, it is brimming with supermajors clamoring to buy out the region’s...

Bearish Bets On Diesel Tell A Worrying Story

By Tsvetana Paraskova The mood in the crude oil and oil product futures market turned decisively sour in the fourth quarter of 2018 as building crude oil oversupply and signs of slowing global economic growth rate...

Oil Majors Bet Big On Offshore Drilling In 2019

By Irina Slav Oil majors will spend US$208 billion on offshore drilling and other oilfield services this year, but not all sector players are positioned to benefit from the higher spending, Bloomberg reported last week, citing Rystad Energy’s...

Global Automakers To Spend $300 Billion On EVs In 10 Years

By Nick Cunningham Global automakers are going all-in on electrification with plans to spend a combined $300 billion on EVs over the next decade, according to a Reuters analysis. The rush towards EVs comes as environmental and climate regulations...

Fears Of U.S. Shale Demise May Be Overblown

By David Messler Recently, there has been some concern about the ability of U.S. shale, and in particular, the Permian Basin, to continue the meteoric increases in production that have characterized the past decade's boom. Growth in U.S....

Platts Plans To Reform Dated Brent Crude Oil Benchmark

By Tsvetana Paraskova In a bid to boost the liquidity of the Brent international crude oil benchmark, S&P Global Platts plans to reform the way Dated Brent is being assessed as of November 2019 loadings, Platts said on...

ECB has asked banks to fully cover impaired loans by around 2026: paper

MILAN (Reuters) - The European Central Bank has asked lenders under its oversight to put aside more money to fully cover their impaired loans by around 2026, a source-based report in Italian newspaper Il...

Turkish Airlines targets $14 billion in revenue this year

The national flag carrier Turkish Airlines (THY) has said it aims to carry 80 million passengers and $14.1 billion in revenues this year. Its target includes 33 million domestic and 47 million international passengers, TurkishAirlines announced on Jan. 14 in...

Turkish textile firms eye over $11 bln export revenue this year

Turkey’s textile industry foresees weaker demand in the domestic market as rising costs will push prices higher, but hopes to boost exports this year. “The overall costs of the firms operating in the textile industry have increased by 30...

Volkswagen, Ford to announce automotive alliance

Volkswagen AG and Ford Motor Co are expected to unveil an alliance on Jan. 15 that combines forces on commercial vehicles and is likely to expand into joint development of electric and self-driving technology, moves meant to save the...