Oil prices fell towards six-year lows on Monday on data showing the economy of Japan, the world’s third-biggest oil consumer, contracted in the second quarter. U.S. crude, or West Texas Intermediate (WTI), for September was trading 45 cents lower at $42.05 a barrel at 1348 GMT, close to its lowest in more than six years. Over the past two weeks, U.S. crude prices have fallen by more than 10 percent
The Greek government appears likely to call a confidence vote following a rebellion among lawmakers from the ruling Syriza party over the country’s new bailout deal, senior ministers said on Monday. Energy Minister Panos Skourletis described such a parliamentary vote as “self-evident” following Friday’s rebellion when almost a third of Syriza deputies abstained or voted against the agreement. With Syriza’s left wing showing little sign of returning to the party
In case you needed more evidence that getting a college degree is generally a good idea, Georgetown University is out with a new report that underscores how important a diploma has been in this recovery. Of the 2.9 million “good jobs” created during the recovery from 2010 to 2014, 2.8 million — or 97 percent — have gone to workers with at least a bachelor’s degree, according to Georgetown’s Center on
Investors will comb through Wednesday’s minutes of the most recent Federal Reserve meeting for indications on how the U.S. central bank will react to the recent yuan devaluation and the further decline in oil prices. The recent outperformance of bank stocks and underperformance of utilities, both on expectations of higher Treasury yields, support current market bets that the Fed will raise rates for the first time in nearly a decade
Assuming approval by Euro zone parliaments, 13 billion euros should be in Athens on Thursday to pay pressing bills and a further 10 billion will be set aside at the European Stability Mechanism, earmarked to bolster Greek banks’ capital. The debate in the 150-seat Dutch lower house will begin on Wednesday at noon, a statement from parliament said.
German car parts maker Mann + Hummel is buying U.S. firm Affinia’s auto filter unit for $1.3-1.4 billion, a person familiar with the transaction said on Sunday. The deal is the third within a year in which a U.S. auto supplier is bought by a German peer, following ZF’s takeover of TRW and Mahle’s acquisition of Delphi’s air-conditioning unit. Canada’s Magna scooped up Germany’s Getrag in mid-July, while Fiat Chrysler
China’s move to weaken the yuan last week could head off further similar “adjustments”, and the yuan is likely to move in both directions as the economy stabilizes, Ma Jun, chief economist at the central bank said on Sunday. The People’s Bank of China (PBOC) shocked global markets by devaluing the yuan (CNY=CFXS) by nearly 2 percent on Aug. 11. The PBOC called it a free-market reform but some saw
BRUSSELS/ATHENS (Reuters) – Euro zone finance ministers have agreed to lend Greece up to 86 billion euros ($96 billion) after Greek lawmakers accepted their stiff conditions despite a revolt by supporters of leftist Prime Minister Alexis Tsipras. Assuming approval by the German and other parliaments, 13 billion euros should be in Athens next Thursday to pay pressing bills and a further 10 billion will be set aside at the European
General Electric (GE.N) is expected to secure EU approval for its proposed 12.4-billion-euro ($13.8 billion) bid for French peer Alstom’s (ALSO.PA) power business, its largest ever deal, two people familiar with the matter said on Friday. The green light from the European Commission will come 14 years after it rejected General Electric’s (GE) attempt at a $42 billion takeover of Honeywell International (HON.N), despite clearance by U.S. authorities. The current
Warren Buffett’s Berkshire Hathaway Inc on Friday said it boosted its stake in cable TV operator Charter Communications Corp , and signaled it may have another large investment planned after agreeing to …