Business

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IEA chief says oil price bottoming depends on global growth

IEA chief says oil price bottoming depends on global growth International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed out, providing that the health of the global economy does not pose a concern. Oil prices hit 2016 highs on Friday with Brent crude …

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Looming gasoline glut threatens crude’s rebound

Looming gasoline glut threatens crude’s rebound A rebound in oil prices this year from 12-year lows is in danger of coming to a crashing halt, as the main engine of global demand growth for the past several years starts to sputter amid signs of a gasoline glut. Crude oil LCOc1 …

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SunEdison files for Chapter 11 bankruptcy protection

SunEdison files for Chapter 11 bankruptcy protection U.S. solar energy company SunEdison Inc (SUNE.N) filed for Chapter 11 bankruptcy protection on Thursday, becoming one of the largest non-financial companies to do so in the past 10 years. Once the fastest-growing U.S. renewable energy developer, SunEdison embarked on an aggressive acquisition …

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Oil prices slide after freeze deal failure

Oil prices slide after freeze deal failure Oil prices slid on Monday after a meeting between major producing nations on a proposed output freeze fell apart, leaving the world grappling with an excess of unwanted crude. The some 18 oil exporting nations, including non-OPEC Russia, had gathered in the Qatari …

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Central banks wait in vain for world to borrow

Central banks wait in vain for world to borrow Central bankers usually worry about when to remove the punch bowl of cheap finance but when they gather in Washington, D.C. this week they will face a different problem: how to force the world to drink. Amid a flood of cheap …

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China trade surprise gives stocks a lift

China trade surprise gives stocks a lift Global stocks rose on Wednesday after surprisingly upbeat Chinese trade data offered hope Asia’s biggest economy is finally stabilising, fuelling risk appetite. China reported exports jumped 11.5 percent year on year in March — the first increase since June, well above market forecasts, …

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Wall Street ends higher but indexes post weekly losses

Wall Street ends higher but indexes post weekly losses A sharp rally in crude oil and energy shares lifted U.S. stocks on Friday, but indexes registered losses for the week. U.S. crude oil settled more than 6 percent higher after data showed lower U.S. stockpiles, driving gains of 2 percent …

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Wall Street higher as rate hike concerns ease

Wall Street higher as rate hike concerns ease Wall Street was higher on Wednesday as investors took comfort from Federal Reserve Chair Janet Yellen’s comments that the central bank should tread cautiously on raising rates this year. Apple’s (AAPL.O) 2 percent rise propped up all three major indexes and helped …

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Economic data could put stocks back on higher path

Economic data could put stocks back on higher path The March U.S. employment report and other key economic numbers next week could help U.S. stocks resume their recent winning path as long as that data hits the sweet spot: Not strong enough to add to worries about further interest rate …

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Samsung Electronics to reform corporate culture

Samsung Electronics to reform corporate culture Samsung Electronics Co Ltd, the world’s biggest maker of smartphones and memory chips, announced on Thursday that it plans to adopt a corporate culture akin to a startup, seeking to become more nimble as growth slows. Samsung’s executives will sign a pledge to move …

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