Business

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Tech billionaire Thiel backing wrestler Hogan’s Gawker lawsuit

Tech billionaire Thiel backing wrestler Hogan's Gawker lawsuit

Tech billionaire Thiel backing wrestler Hogan’s Gawker lawsuit Billionaire investor Peter Thiel is helping wrestler Hulk Hogan bankroll his lawsuit against Gawker Media, according to a report in Forbes. Hogan, whose real name is Terry Bollea, in March won a $140 million jury verdict against Gawker in a privacy lawsuit …

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A ‘Modern Day Ocean’s 11’

A 'Modern Day Ocean's 11'

Bangladesh Bank heist trail goes cold in Manila as probes falter More than three months have passed since $81 million was stolen in a brazen cyber-heist from Bangladesh’s central bank and sent to Manila – yet authorities in the Philippines appear no closer to nabbing those who laundered most of …

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Oil falls after Iran dampens hopes for production freeze

Oil falls after Iran dampens hopes for production freeze

Oil falls after Iran dampens hopes for production freeze Brent oil prices fell for a fourth consecutive session on Monday after Iran insisted it would not freeze crude output, returning investor attention to a global glut. Adding to signs the oil market will remain oversupplied, data showed last week the …

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Lacking new ideas, G7 to agree on ‘go-your-own-way’ approach

Lacking new ideas, G7 to agree on 'go-your-own-way' approach

Lacking new ideas, G7 to agree on ‘go-your-own-way’ approach rift on fiscal policy and currencies is likely to set the stage for G7 advanced economies to agree on a “go-your-own-way” response to address risks hindering global economic growth at their finance leaders’ gathering on Friday. As years of aggressive money …

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Oil prices remain near 2016 highs on global supply disruptions

Oil prices remain near 2016 highs on global supply disruptions

Oil prices remain near 2016 highs on global supply disruptions Oil futures were trading near 2016 highs on Wednesday, as supply disruptions and output cuts continued to tighten the market, although traders cautioned that high global crude inventories were still weighing on prices. International Brent crude futures LCOc1 were trading …

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S&P seen failing in reach for year-old record

S&P seen failing in reach for year-old record

S&P seen failing in reach for year-old record As the anniversary of the S&P 500’s high mark approaches, the benchmark U.S. stock index’s latest rally has stalled and failed to breach a key level, prompting some calls for sell-offs, at least in the short term. The rally, which started in …

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Oil jumps on Canada wildfire outages

Oil jumps on Canada wildfire outages Oil rallied on Monday as Canada’s most destructive wildfire in recent memory knocked out over a million barrels in daily production capacity, but caution among investors prevented a return to late April’s 2016 price highs. The lost capacity is equivalent to well over a …

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Traders on edge as Staples-Office Depot deal decision looms

Traders on edge as Staples-Office Depot deal decision looms Options traders are bracing for wild gyrations in the shares of Staples Inc and Office Depot Inc as the companies await a ruling that could scuttle their pending merger. Staples, the largest U.S. office supplies retailer, agreed to buy the second-biggest …

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Global stocks slide as yen, euro gains question policy potency

Global stocks slide as yen, euro gains question policy potency The U.S. dollar slid to its lowest against major currencies in well over a year on Tuesday, a move led by the yen’s continued march higher as investors grew doubtful about central banks’ ability to boost growth through aggressive policy …

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As oil plows through $45 a barrel, U.S. producers rush to lock in prices

As oil plows through $45 a barrel, U.S. producers rush to lock in prices U.S. oil producers pounced on this month’s 20 percent rally in crude futures to the highest level since November, locking in better prices for their oil by selling future output and securing an additional lifeline for …

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