Posts From King World News

Oil rally snaps as ample supplies outweigh U.S. stock draw

Oil fell 2 percent on Thursday, wiping out gains from the past two sessions, as euphoria from the first U.S. inventory drawdown in months faded and focus returned to oversupplies in crude and gasoline. North Sea Brent and U.S. crude futures fell more than $1 a barrel, pressured partly by gasoline’s sharpest one-day drop in more than two weeks. U.S. crude inventories fell almost 4 million barrels last week, their

Greece says sticking to 'red lines', wants concessions from lenders

Greece’s government is sticking to its non-negotiable “red lines” on labour and pension issues and expects its EU and IMF creditors also to make concessions to reach a deal, the government spokesman said on Thursday. Greece’s new leftist government has said further cuts to pension payments and reforms making it easier to fire workers in the private sector are among “red lines” it will no cross. “There should not be

Citi targeting market share gains in equities in 2015

U.S. bank Citigroup (C.N) is targeting market-share gains in equities in 2015, its European head of equities told Reuters, pointing to fresh technology investment and new hires as financial-market trading picks up. The comments echo a more optimistic stance from trading desks at global investment banks after a bumper quarter boosted by the European Central Bank’s announcement of a bond-buying scheme to spur growth. They contrast with last year’s more