Monthly Archives: July 2015

Oil steady; U.S. crude holds below $50 as stockpiles rise

Oil prices held steady in early Asian trade on Thursday, with U.S. crude trading below $50 a barrel near its lowest in more than three months as rising U.S. stockpiles and a strong dollar weighed on the commodity. Crude oil stocks in the United States rose 2.5 million barrels last week to above the five-year seasonal average, data from the ...

Read More »

Greek PM keeps lid on party rebellion to pass bailout vote

Greek Prime Minister Alexis Tsipras contained a rebellion in his left-wing Syriza party to win parliamentary approval on Thursday for a second package of reforms required to start talks on a financial rescue deal. A first set of reforms that focused largely on tax hikes and budget discipline triggered a rebellion in Syriza last week and passed only thanks to ...

Read More »

U.S. Stocks Slide as IBM, United Technologies Results Disappoint

U.S. stocks declined, with equities sliding the most in two weeks, as quarterly results from IBM Corp. and United Technologies Corp. disappointed investors. Apple Inc. declined in late trading after iPhone shipments missed forecasts, and Microsoft Corp. fell following its largest-ever quarterly net loss. International Business Machines Corp. dropped 5.9 percent during regular trading after sales fell for a 13th ...

Read More »

New York sell orders in thin trade trigger Shanghai gold rout

In early Asian trading hours on Monday, when typically only tens of contracts of gold are traded, investors dumped more than $500 million worth of bullion in New York in four seconds, triggering the market’s biggest rout in years. The sell-off began when one or more massive sell orders hit the price of gold on the CME Group’s Comex futures ...

Read More »

S&P raises Greece rating by two notches on bailout talks with creditors

Standard & Poor’s on Tuesday upgraded Greece’s sovereign credit rating by two notches and revised its outlook to stable from negative, citing euro zone countries initial agreement to start negotiations with the country on a third bailout. S&P raised its rating for Greece to CCC+ from CCC-, saying the country’s liquidity perspective has improved after euro zone finance ministers last ...

Read More »

After Israel talks, Pentagon chief says: ‘Friends can disagree’

U.S. Defense Secretary Ash Carter never expected to win over Israel’s Prime Minister Benjamin Netanyahu about the merits of the nuclear agreement with Iran but tried to put a brave face on their sometimes blunt, closed-door exchange on Tuesday. “We don’t agree on everything. And the prime minister made it quite clear that he disagreed with us on with respect ...

Read More »

Commodity Rout Pummels Miners, Energy Shares; Stocks End Mixed

The rout in commodities worsened as the prospect of higher U.S. interest rates sent gold to the lowest level in more than five years and oil beneath $50 a barrel. Bullion lost 2.2 percent to settle at $1,106.80 an ounce by 4 p.m. in New York, sending the Bloomberg Commodity Index to a 13-year low. Mining stocks drove equity losses ...

Read More »

China Outbound Investment Expands as Nation Boosts Global Clout

China’s long-term outbound investment is catching up with inbound foreign investment, bringing the country closer to becoming a net exporter of funds as it boosts its global economic clout. Outbound investment in yuan terms jumped 29.2 percent in the first half from a year earlier, dwarfing the 8.3 percent gain in foreign direct investment inflows, the Ministry of Commerce said ...

Read More »