Tuesday, May 16th, 2017

 

Greek debt relief up to ministers after euro zone, IMF officials fail to break deadlock

BRUSSELS, May 16 — Euro zone lenders and the International Monetary Fund remain far apart on how to provide debt relief for Greece, but officials hope euro zone finance ministers will still be able to hammer out an agreement at their May 22…


Yahoo to buy back US$3b shares

SAN FRANCISCO, May 16 — Yahoo Inc said today it would buy back US$3 billion (RM12.9 billion) of its common shares to provide liquidity to stockholders looking to sell shares ahead of the company’s pending deal with Verizon Communications Inc….


S&P, Nasdaq hit record highs on gains in tech, consumer staples

NEW YORK, May 16 — The S&P 500 and the Nasdaq drifted higher to hit record intraday levels today, supported by gains in technology and consumer staple stocks. As the first-quarter earnings season wraps up, investors’ attention will turn to…


US retailers urge Trump’s new trade envoy to save Nafta

NEW YORK, May 16 — The largest US retail associations called on new Trade Representative Robert Lighthizer to support the North American Free Trade Agreement, aiming to salvage an accord that has come under fire from his boss. Leaders of the…


Iran likely to back longer Opec-led oil cut if all on board, sources say

LONDON, May 16 — A proposal to extend an Opec and non-Opec supply cut for nine months is a positive idea, sources familiar with Iranian thinking said, suggesting Opec’s third-largest producer is likely to go along with such a plan if there is…


Tata Steel posts surprise loss after British pension charge

MUMBAI, May 16 — Tata Steel Ltd posted a surprise fourth-quarter loss after the company recorded a 36 billion rupee (RM2.4 billion) charge related to the closure of its British pension plan. Tata Steel reported a loss of 7.25 billion rupees in…


China announces Hong Kong bond connect after stock links

HONG KONG, May 16 — The Chinese government gave its formal blessing to the creation of a bond link between Hong Kong and the mainland, the third such programme with the former British colony. The People’s Bank of China and Hong Kong Monetary…


US dollar slips amid Trump concern as euro rallies

NEW YORK, May 16 — The dollar weakened for a fifth day and the euro surged to the highest since November as investors digested a report claiming US President Donald Trump revealed classified information to Russia’s top diplomat. Crude extended…


Opec prolonging cut would achieve mission to clear oil glut

LONDON, May 16 — The world’s two biggest oil exporters seem to have finally figured out how to eliminate a global surplus that’s kept crude prices in check for almost three years. Saudi Arabia and Russia said in Beijing yesterday they…


RAM Ratings: Inflation in Malaysia to moderate to 4.4pc in April

KUALA LUMPUR, May 16 — RAM Ratings expects inflation in Malaysia to moderate to 4.4 per cent in April 2017, compared to the high of 5.1 per cent in March due to the tapering off of the low-base effects from the transport fuel component. In its…