Business News

Asia stocks lower amid growth worries; oil rebounds

SHANGHAI (Reuters) - Asian shares drifted lower on Monday as signs of softening demand in China rekindled anxiety about the outlook for world growth, but Saudi Arabia’s plans to cut production helped to halt a slide in oil prices. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.07 percent, trimming earlier losses on a bounce in Chinese shares, but struggling to break into positive territory.Aust...

12 Nov 5:56 AM 0 Read More...

Alibaba nets record $30 billion in Singles' Day haul, but growth rate plunges

SHANGHAI (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd cashed a record 213.5 billion yuan ($30.7 billion) in sales on Sunday during its 24-hour online retail frenzy Singles’ Day, but the event’s annual growth dropped to its slowest rate. Shoppers in China and across the world snapped up hot items including iPhones, furniture and milk powder starting pre-dawn, with Alibaba recording roughly $10 bi...

12 Nov 5:56 AM 0 Read More...

Big Oil spent 1 percent on green energy in 2018

LONDON (Reuters) - Top oil and gas companies jointly spent around 1 percent of their 2018 budgets on clean energy, but investments by Europe’s giants vastly outpaced their U.S. and Asian rivals, a study showed. Companies such as Royal Dutch Shell, Total and BP have in recent years accelerated spending on wind and solar power as well as battery technologies, seeking a larger role in global efforts to slash carbon em...

12 Nov 12:54 AM 0 Read More...

Dollar Tree stock is a bargain, down 18 percent this year: Barron’s

NEW YORK (Reuters) – Shares of Dollar Tree Inc (DLTR.O) are as big a bargain as the $1 goods it sells in its stores, with shares off 18 percent this year and trading at a discount to its biggest competitor Dollar General Corp (DG.N) and there is a possible activist investor in the wings, according to Barron’s. The U.S. financial newspaper said that Dollar Tree is trading at near a five-year low but could b...

11 Nov 9:54 PM 0 Read More...

Alibaba Singles’ Day tops $30 billion but growth rate plunges

SHANGHAI (Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd cashed a record 213.5 billion yuan ($30.70 billion) in sales on Sunday during its 24-hour online retail frenzy Singles’ Day, but the event’s annual growth dropped to its slowest-ever rate. Shoppers in China and across the world snapped up hot items including iPhones, furniture and milk powder starting pre-dawn, with Alibaba recording roug...

11 Nov 9:54 PM 0 Read More...

Dollar Tree stock is a bargain, down 18 percent this year: Barron's

NEW YORK (Reuters) - Shares of Dollar Tree Inc (DLTR.O) are as big a bargain as the $1 goods it sells in its stores, with shares off 18 percent this year and trading at a discount to its biggest competitor Dollar General Corp (DG.N) and there is a possible activist investor in the wings, according to Barron’s. The U.S. financial newspaper said that Dollar Tree is trading at near a five-year low but could bounce bac...

11 Nov 7:52 PM 0 Read More...

Alibaba Singles' Day tops $30 billion but growth rate plunges

SHANGHAI (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd cashed a record 213.5 billion yuan ($30.70 billion) in sales on Sunday during its 24-hour online retail frenzy Singles’ Day, but the event’s annual growth dropped to its slowest-ever rate. Shoppers in China and across the world snapped up hot items including iPhones, furniture and milk powder starting pre-dawn, with Alibaba recording roughly ...

11 Nov 7:52 PM 0 Read More...

Oil pucks and pellets; Canada eyes new ways to move stranded crude

CALGARY, Alberta (Reuters) - Canada’s biggest railroad says it is attracting interest from oil producers in its effort to move crude in solid, puck-like form, as clogged pipelines divert more oil to riskier rail transport. Congested pipelines have stranded much of Canada’s crude in Alberta, driving discounts to record-high levels. Canadian heavy crude traded on Friday for less than one-third of the U.S. benchmark...

11 Nov 7:52 PM 0 Read More...

Iran sells more oil to private exporters to bypass U.S. curbs

DUBAI (Reuters) - Iran sold 700,000 barrels of crude oil to private companies for export on Sunday in a second round of sales aimed at countering U.S. sanctions on the country’s exports, oil ministry news website SHANA reported. Three unnamed companies paid $64.97 per barrel for two crude shipments of 245,000 barrels each and one shipment of 210,000 barrels, which were traded on Iran’s energy bourse, SHANA report...

11 Nov 2:50 PM 0 Read More...

Argentine recession seen bottoming out in first quarter: IMF

BUENOS AIRES (Reuters) - Argentina’s shrinking economy will bottom out in the first three months of next year and start to recover in the second quarter, an International Monetary Fund official said on Saturday. The fund last month upped the size of its standby financing deal with Argentina to $56.3 billion after negotiating tougher fiscal measures that have already dented the popularity of President Mauricio Macr...

11 Nov 4:45 AM 0 Read More...