Oil fell to just above $59 a barrel for the first time since May 2009 on Tuesday, extending a six-month selloff as slowing Chinese factory activity and weakening emerging-market currencies added to concerns about demand.
Industry
Last U.S. holiday shopping weekend off to solid start
Shoppers filled up malls and department stores on the last weekend before Christmas, as the weather cooperated to help raise the prospect of a solid finish to a holiday season that has so far produced mixed results.
Oil, stocks go their separate ways
Investors have wrung their hands over the last several weeks over the effect of lower oil prices on the broader S&P 500, but the relationship between the two is actually starting to break down.
American Apparel approached for possible buyout
Clothing manufacturer American Apparel Inc (APP.A) has been approached by private equity firm Irving Place Capital for a possible takeover, The Wall Street Journal reported, citing sources.
U.S. holiday sales may recover with help of deep discounts
Despite a disappointing Thanksgiving weekend, U.S. holiday sales may squeak by expectations if steeper and longer-running discounts lure enough shoppers.
Latest News
Activity in China's factory sector contracted in December for the first time in seven months, the latest in a string of weak economic indicators that will intensify calls for more stimulus measures to head off a hard landing.
Rio Tinto and BHP Billiton are amassing vast copper holdings in a push to capture a greater chunk of the $140 billion world market, apparently aiming to squeeze out high-cost producers just as they did in the global iron ore business.
Global shares prices came under pressure on Monday as oil prices briefly sank to fresh 5-1/2 year lows in choppy trade, doing little to allay concerns that some energy producers and exporters could find themselves in dire straits as revenues slump.
Asking prices for homes on sale in Britain posted the largest monthly fall on record in December but are likely to rise by between 4 and 5 percent next year, property website Rightmove said on Monday.
Confidence among Japanese manufacturers worsened slightly in the fourth quarter and firms expect conditions to deteriorate more, highlighting the challenges premier Shinzo Abe faces in reviving the economy a day after his big win in Sunday's snap election.
China's economic growth could slow to 7.1 percent in 2015 from an expected 7.4 percent this year, held back by a sagging property sector, the central bank said in research report seen by Reuters on Sunday.
Pessimism and doubt have dominated how Americans see the economy for many years. Now, in a hopeful sign for the economic outlook, confidence is suddenly perking up.
Brazilian retailers are expecting their worst Christmas season in a decade and signs are pointing to an unhappy New Year ahead.
The dollar rose on Friday after upbeat U.S. data suggested weaker oil prices are providing additional momentum for the American economy, which also underpinned Asian shares.
