Friday, May 5th, 2017

 

Oil rebounds on Saudi assurances Russia will extend supply cuts

NEW YORK, May 5 — Oil prices rebounded from five-month lows today following assurances by Saudi Arabia that Russia is ready to join Opec in extending supply cuts to reduce a persistent glut. Traders also noted the technically oversold…


New York condo deals sought for online investors by new REIT

NEW YORK, May 5 — A new real estate investment trust opened shop this week, seeking to raise US$50 million from investors online. It plans to use the money on some of the most sought after properties in the world: New York apartments. NY…


Moment of truth for the euro as France votes

LONDON, May 5 — The fate of the European Union and the euro could hang on the outcome of Sunday’s French presidential election. The expected victory of centrist, pro-EU candidate Emmanuel Macron would be taken by markets as a sign that…


Oil spill leaves commodities spinning, safe-havens shine

Oil spill leaves commodities spinning, safe-havens shine

LONDON (May 5): A slump in oil prices to the lowest in almost six months rattled markets on Friday, prompting a rally in safe-haven bonds,…


IBM tumbles as Buffett discloses he is trimming stake

NEW YORK, May 5 — IBM shares tumbled today after billionaire investor Warren Buffett revealed he has sold about a third of his stake and “revalued” downward the computing giant. In early Wall Street trade, IBM shares were down 2.5 per cent…


Strong jobs data boost Nasdaq; weak IBM hits Dow

NEW YORK, May 5 — The S&P 500 and Nasdaq were boosted early today by a solid US jobs report, but the Dow dipped on news Warren Buffett sold shares of IBM. After a slow March, when hiring likely was held down by a winter storm, the US economic…


London finance centre to ‘stall’ on Brexit, says Goldman boss

LONDON, May 5 — Development of London’s financial centre will “stall” owing to Brexit, but is unlikely to “totally reverse”, Goldman Sachs chief executive Lloyd Blankfein said in an interview broadcast today. “It will stall, it…


TransCanada profit beats on US, Mexican pipeline businesses

CALGARY, May 5 — Canada’s No. 2 pipeline operator, TransCanada Corp, reported a better-than-expected quarterly profit, helped by higher earning from its US and Mexican natural gas pipelines business. Earnings from its US natural gas…


With maiden jet flight, China enters dogfight with Boeing, Airbus (VIDEO)

SHANGHAI, May 5 — China’s homegrown C919 passenger jet completed its long-delayed maiden flight today, a major first step for Beijing as it looks to raise its profile in the global aviation market and boost high-tech manufacturing at home….


J&J Loses US$110m verdict over talc cancer-link claim

DETROIT, May 5 — Johnson & Johnson was ordered by a St. Louis jury to pay more than US$110 million (approx. RM477.2 million) to a Virginia woman who blamed her ovarian cancer on the company’s talcum products. Imerys Talc America, which…