Oil shippers face higher costs and the possible loss of insurance cover on Libyan voyages, caught in a struggle between the rival governments there and threatened by air attacks.
Industry
McDonald's to slow Russia expansion due to fall in rouble
McDonald's Corp. (MCD.N) will open fewer new restaurants in Russia this year than last because a fall in the rouble has increased expansion costs and is hurting consumers, its Russian chief executive Khamzat Khasbulatov told Reuters.
U.S. economy cools in fourth quarter, but consumer spending shines
U.S. economic growth slowed sharply in the fourth quarter as weak business spending and a wider trade deficit offset the fastest pace of consumer spending since 2006.
Dollar mixed on GDP data, January marks greenback record run
The dollar traded mixed on Friday after weaker-than-expected headline U.S. fourth-quarter gross domestic product data, which included the fastest pace of consumer spending since 2006 and left intact market expectations of long-term greenback gains.
Lagardere enters race for Benetton's World Duty Free: sources
France's Lagardère (LAGA.PA) has joined the race to acquire a majority of Italy's airport retailer World Duty Free (WDF.MI), which belongs to the Benetton family, sources familiar with the situation said.
Latest News
Investigators at German financial watchdog Bafin have not discovered any signs of systemic efforts to manipulate currency benchmarks, rather, only individual efforts, banking supervisory head Raimund Roeseler said in a newspaper interview on Tuesday.
Russian shoppers caught in a currency crunch are staying away from the Dubai Shopping Festival (DSF) this year, but visitors from elsewhere look set to make up the numbers at the annual retail bonanza.
Japan's exports grew the most in a year in December, helped by a weak yen and a pick-up in overseas demand led by the United States, an encouraging sign for the recession-hit economy even as doubts persist about the strength of global consumption.
India is betting that mobile phone vendors, fuel stations and corner stores can help it put basic banking within the grasp of hundreds of millions of its poor people living beyond the reach of traditional bank branches.
Japan has offered to import more rice from the United States in a compromise aimed at pushing forward the Asia-Pacific regional trade talks, the Nikkei reported on Sunday.
Kimberly-Clark Corp (KMB.N) is set to increase advertising and promotional spending for its diapers and launch new products in an escalating war with bigger rival Procter and Gamble Co (PG.N) in North America.
Low borrowing costs, currency shifts and the hunt for both cost savings and growth opportunities will drive a steady flow of merger and acquisition deals this year despite geopolitical tensions, according to business leaders meeting this week.
China's manufacturing growth stalled for the second straight month in January and companies had to cut prices at a faster clip to win new business, adding to worries about growing deflationary pressures in the economy, a private survey showed.
A deal on a 12-nation Asia-Pacific trade pact could be concluded in mid-March, Mexico's economy minister, Ildefonso Guajardo, said on Thursday.
