Business News

Exclusive: Trafigura halts oil trade with Venezuela - source

GENEVA (Reuters) - Global commodities firm Trafigura has decided to stop trading oil with Venezuela due to U.S. sanctions on the OPEC nation’s energy sector, a source with direct knowledge of the matter said. The decision will come as a blow to Caracas as Swiss-based Trafigura has a long-standing arrangement with state-run PDVSA to take Venezuelan crude and, in exchange, supply the Latin American country with refi...

15 Feb 12:49 PM 0 Read More...

Xi says trade talks progress, more meetings next week in U.S

BEIJING (Reuters) - Talks between China and the United States this week made important progress, President Xi Jinping told top U.S. trade negotiators on Friday, adding that efforts would continue in Washington next week to resolve their bruising trade war. Xi met U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin after a full week of trade negotiations at senior and deputy levels ...

15 Feb 12:49 PM 0 Read More...

China's President Xi meets top U.S. trade delegation officials

BEIJING (Reuters) - Chinese President Xi Jinping met U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Friday, following high-level negotiations aimed at striking a trade deal ahead of a March 1 deadline. In a photograph distributed via a pool of foreign media, Xi shakes hands with Lighthizer, as Mnuchin stands behind his colleague. Reporting by Beijing Monitoring Desk; Editing by ...

15 Feb 12:49 PM 0 Read More...

China's Xi: trade talks with U.S. to continue in Washington next week

BEIJING (Reuters) - Chinese President Xi Jinping said on Friday trade talks with the United States will continue in Washington next week and that he hopes the two sides will be able to reach a mutually beneficial deal in the upcoming negotiations, state media reported. Xi said during a meeting with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin that talks in Beijing this week made p...

15 Feb 12:49 PM 0 Read More...

Mexico's Pemex, after downgrade, will make all debt payments: Lopez Obrador

MEXICO CITY (Reuters) - Mexican state oil firm Pemex will make all its debt payments, President Andres Manuel Lopez Obrador said on Thursday, promising to shore up its finances after Moody’s and Fitch downgraded its credit rating to one notch above junk. Lopez Obrador, a veteran leftist who took office in December, said he would present a plan on Friday to strengthen Pemex’s finances. One source of funding will b...

15 Feb 2:39 AM 0 Read More...

Prominent investors stock up on eBay, then activists flex muscle

NEW YORK (Reuters) - EBay Inc.’s stock price slumped for most of last year but a number of prominent hedge funds were so convinced that change is on the horizon for the e-commerce company that they established new or added to existing positions in the last months of 2018. Baupost Group, run by Seth Klarman, and BlueMountain Capital both made new investments while Hudson Bay Capital Management and Adage Capital Part...

15 Feb 2:39 AM 0 Read More...

Asian stocks slip after grim U.S. retail sales data

TOKYO (Reuters) - Asian stocks slipped on Friday after grim U.S. retail sales figures raised fresh doubts about the strength of the U.S. economy, offsetting optimism on trade talks between the United States and China. Also casting a shadow, the White House said U.S. President Donald Trump will declare a national emergency to try to obtain funds for his promised U.S.-Mexico border wall, drawing immediate criticism fro...

15 Feb 2:39 AM 0 Read More...

Britain's RBS one of eight banks in EU bond cartel probe - Bloomberg

LONDON (Reuters) - Royal Bank of Scotland is one of eight banks being probed by European authorities for its possible role in a euro bond trading cartel, Bloomberg reported on Thursday citing a source. The European Commission said in January it was investigating the unidentified banks for a scheme that distorted sovereign bond trading markets from 2007 to 2012. The Commission’s powerful antitrust arm said some tra...

14 Feb 11:24 AM 0 Read More...

Not time yet to discuss Nissan chairmanship, Renault's Senard says

TOKYO (Reuters) - The new chairman of French automaker Renault on Thursday said it was not the time to discuss whether he would also take the helm of Nissan, as he arrived in Japan to reaffirm an alliance rocked by the arrest and ouster of former Chairman Carlos Ghosn. The comment from Jean-Dominique Senard, reported by Japanese media, appeared aimed at avoiding putting further strain on an alliance that some in Japa...

14 Feb 11:24 AM 0 Read More...

European shares, oil at three-month highs but no love for euro

LONDON (Reuters) - Optimism about U.S.-China trade talks and bumper earnings lifted European shares to a three-month high on Thursday, though news that Germany only dodged recession by the narrowest of margins left the euro feeling unloved. Markets were generally in a cautious mood as investors hung on for any hint of progress in the tariff talks amid reports the White House could extend the deadline for a deal. Stoc...

14 Feb 11:24 AM 0 Read More...