Posts From King World News

Asia's slowing economies and oversupply weigh on oil markets

By Henning Gloystein SINGAPORE (Reuters) – Oil prices remained weak on Tuesday as the global economic outlook darkened further and cooperation between oil producing countries to curb oversupply looked unlikely. China’s crude oil imports fell 13.4 percent in August to 26.59 million tonnes (6.29 million barrels per day) from the previous month, although underlying demand remains strong. Igor Sechin, chief executive of Russian oil-major Rosneft said during the Financial Times’

Credit Suisse challenges court order to pay $288 mn in mortage suit

Swiss banking giant Credit Suisse on Monday challenged a court ruling ordering it to pay a US hedge fund $287.5 million (257.6 million euros) in a case linked to the burst housing bubble. A court in the US state of Texas ruled last week in favour of a unit of Highland Capital Management in a suit against the bank for an overvalued real estate project called Lake Las Vegas, which