World oil demand will rise much more than expected this year, the International Energy Agency (IEA) said on Thursday, in the latest sign that the collapse in oil prices is helping to boost fuel use. The agency, in a monthly report, raised its forecast for global oil demand growth in 2015 by 280,000 barrels per day (bpd) to 1.40 million bpd, bringing demand this year to almost 94 million bpd.
The blue-chip Dow Industrial Average opened higher for the first time in 5 days, while the Nasdaq Composite snapped a four-day losing streak, rising the most in a month.
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The jump in interest rates’ to their highest level this year caused a surge in mortgage applications. Why? Fear that rates will move even higher.
Investors have had to quickly get used to the recent spurt of market volatility and, with few assets offering a safe haven from the rout, investors are eyeing the vulnerable bond sector for direction.
The U.S. has taken Russia’s crown as the world’s biggest oil and natural-gas producer, illustrating the seismic shifts in the global energy landscape caused by America’s shale fields.
General Motors Co said on Wednesday its North American labor chief retired last week, as the No. 1 U.S. automaker prepares to open negotiations with the union representing its U.S. hourly work force. GM said Rex Blackwell, its 60-year-old North America labor relations vice president, retired on June 1. In April, he had been promoted to lead negotiator for the coming talks over a new contract with the United Auto
For investors, who are particularly nervous about how rising rates will affect their portfolios, sectors to stay away from.
Target is doubling its share buyback program to $10 billion and boosting its quarterly dividend by 7.7 percent. The announcement comes after the company inadvertently said on its website Tuesday that it …
Overseas markets bring in more advertising revenue than the United States for Facebook Inc, amounting to 51 percent of global ad sales in the first quarter, with growth in Asia the fastest in the world at 57 percent, company executives told Reuters. While Facebook has reported regional growth in percentage terms, this is the first time it has detailed ad sales outside the United States and Canada as a percent