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Updated: 9 hours 41 min ago

Oil falls more than 1% as market awaits response to Saudi oil attacks

Tue, 09/17/2019 - 06:42
Oil fell more than 1% on Tuesday as the market hung on tenterhooks following attacks on Saudi Arabian crude facilities that cut the kingdom's production in half and sent prices soaring by the most in decades.

International panel to criticize U.S. FAA's Boeing 737 MAX approval process: WSJ

Tue, 09/17/2019 - 06:40
A panel of international air-safety regulators is finishing a report which is expected to criticize the initial U.S. approval process for Boeing Co's 737 MAX jets, the Wall Street Journal reported on Monday, citing people briefed on the conclusions.

Germany's Osram urges investors to accept $4.8 billion AMS offer

Tue, 09/17/2019 - 06:02
Osram advised shareholders to accept a 4.3 billion euro ($4.8 billion) bid from AMS on Monday, bringing the Austrian sensor specialist a step closer to taking over the bigger German lighting group.

WeWork parent pulls IPO following pushback: sources

Tue, 09/17/2019 - 06:01
WeWork owner The We Company took a last-minute decision on Monday to suspend preparations for an initial public offering (IPO), concerned that its stock market debut would be snubbed by many investors, people familiar with the matter said.

Trump says U.S. reaches trade deals with Japan, no vote needed

Tue, 09/17/2019 - 05:45
U.S. President Donald Trump said on Monday that the United States has reached initial trade agreements with Japan on tariff barriers and digital trade that will not require congressional approval.

OxyContin maker Purdue Pharma files for bankruptcy protection

Tue, 09/17/2019 - 05:39
OxyContin maker Purdue Pharma LP filed for bankruptcy protection Sunday night, succumbing to pressure from more than 2,600 lawsuits alleging the company helped fuel the deadly U.S. opioid epidemic.

Japan to nominate ex-top currency diplomat Asakawa as ADB head: sources

Tue, 09/17/2019 - 05:34
Japan's government is expected to nominate Masatsugu Asakawa, the country's former top currency diplomat, as its candidate to become next head of the Asian Development Bank (ADB), two people familiar with the matter said.

Trump says he does not want war after attack on Saudi oil facilities

Tue, 09/17/2019 - 04:55
U.S. President Donald Trump said on Monday said it looked like Iran was behind attacks on oil plants in Saudi Arabia but stressed he did not want to go to war, as the attacks sent oil prices soaring and raised fears of a new Middle East conflict.

Oracle, VMware agree to deal on cloud technology, technical support

Tue, 09/17/2019 - 04:50
Oracle Corp and VMware Inc on Monday announced a deal designed to resolve years of tension over how Oracle handles technical support for VMware users and make it easier for them to move to Oracle's cloud computing service.

Electric pickup, batteries included in GM's $7 billion pledge

Tue, 09/17/2019 - 04:31
An all-electric pickup truck and an advanced battery system will be part of the $7 billion that General Motors Co has pledged to invest in the United States as parts of contract talks with the United Auto Workers.

FAA chief to meet with Boeing officials, test 737 MAX simulator

Tue, 09/17/2019 - 03:58
New Federal Aviation Administration (FAA) chief Stephen Dickson plans to fly to Seattle this week to fly "newly configured" Boeing 737 MAX software in a simulator and will visit with Boeing officials, the agency said Monday.

Oil jumps nearly 15% in record trading after attack on Saudi facilities

Tue, 09/17/2019 - 03:39
Oil ended nearly 15% higher on Monday, with Brent logging its biggest jump in over 30 years amid record trading volumes, after an attack on Saudi Arabian crude facilities cut the kingdom's production in half and fanned fears of retaliation in the Middle East.

Workers picket GM plants as UAW contract talks resume

Tue, 09/17/2019 - 03:26
Negotiators for General Motors Co and the United Auto Workers were continuing talks Monday afternoon to resolve a strike that shut down the automaker's highly profitable U.S. operations.

Trump says U.S. does not need Middle East oil, but cargoes keep coming

Tue, 09/17/2019 - 03:22
Amid a flurry of Twitter posts on Monday morning, U.S. President Donald Trump turned to the weekend attack on Saudi Arabia’s oil facilities and assured his audience the United States had become such a big producer it no longer needed oil from the Middle East

Factbox: What's next for OxyContin maker Purdue Pharma

Tue, 09/17/2019 - 03:06
OxyContin maker Purdue Pharma LP filed for bankruptcy protection after reaching a partial deal to resolve more than 2,600 lawsuits alleging it helped fuel the U.S. opioid crisis.

Chevron CEO: Saudi oil strikes won't have much short-term impact on US oil production

Tue, 09/17/2019 - 03:01
Attacks on Saudi oil plants will not have much impact on U.S. oil production in the short term, Chevron Chief Executive Michael Wirth told CNBC in an interview on Monday.

Wall Street drops after Saudi attacks, energy stocks spike

Tue, 09/17/2019 - 02:38
Energy stocks spiked while the rest of Wall Street fell on Monday after weekend attacks on Saudi Arabia's oil facilities added to investors' concerns about geopolitical risk and a slowing global economy.

U.S., Chinese trade deputy talks to start on Thursday: USTR

Tue, 09/17/2019 - 02:30
Deputy-level U.S.-China trade talks are scheduled to start in Washington on Thursday, the U.S. Trade Representative's office said on Monday, paving the way for high-level talks in October aimed at resolving a bitter trade war.

Uber to limit drivers' app access to comply with NYC regulation

Tue, 09/17/2019 - 02:26
Uber on Tuesday will begin limiting drivers' access to its app in New York City to comply with regulation aimed at boosting drivers' pay and easing congestion in Manhattan, laws that Uber says will have unintended consequences.

Saudi oil exports to run as normal from stocks this week: source

Sun, 09/15/2019 - 23:49
Saudi Arabia's oil exports will continue as normal this week as the kingdom taps into stocks from its large storage facilities, an industry source briefed on the developments told Reuters on Sunday.