Oil Minister Ali al-Naimi says Saudi Arabia is producing near record levels of crude in April, underscoring the kingdom's willingness to defend market share at a time when oil markets have staged a fragile recovery.
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Swedish watchdog may raise banks' reserves to cool housing market
Sweden's financial watchdog may increase the amount of capital the country's banks must set aside as reserves in a bid to cool a red-hot housing market, it said on Tuesday.
Iran wants OPEC to pave way for its extra oil production when sanctions lifted
Members of the Organization of the Petroleum Exporting Countries (OPEC) should prepare for extra Iranian crude production when Western sanctions on Tehran are lifted, Iran's oil minister was quoted on Tuesday by state news agency IRNA as saying.
With a prince's backing, James Murdoch may soon ascend at Fox
Saudi Arabia's Prince Alwaleed bin Talal is in no doubt that James Murdoch is ready to take a much bigger role at Twenty-First Century Fox, by far the largest part of the media empire that James' father Rupert Murdoch built.
Yemen conflict keeps Brent crude oil around $63
Brent crude oil steadied around $63 a barrel on Tuesday, not far below the 2015 high, supported by worries that a civil war in Yemen could destabilize the Middle East, affecting oil supplies.
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A trust controlled by British financier Nat Rothschild and the parent of Russia's Siberian Coal Energy Co are considering making a cash offer for coal miner Asia Resource Minerals Plc (ARMS.L), which has most of its operations in Indonesia.
China's drumroll of policy support for its flagging housing market has met an unlikely foe: banks. Beijing has tried to revive a flagging housing market as it looks to arrest an economic slowdown, but banks are increasingly worried about bad debts and are not passing on policy steps like interest rate cuts and lower downpayment requirements to home buyers.
Equity markets rebounded on Monday after China took steps to stimulate its economy and Wall Street also rose on corporate earnings, while the euro weakened further on worries about Greece.
General Electric Co is in early-stage talks with Wells Fargo & Co about selling its entire $74 billion U.S. commercial lending and leasing (CLL) portfolio to the bank, according to a source familiar with the situation.
Kraft Foods Group Inc on Monday said it is revamping its family-friendly macaroni and cheese meal, removing synthetic colors and preservatives from the popular boxed dinner.
Oil prices ended in positive territory on Monday after a drop in stockpiles at the delivery point for U.S. crude in the second half of last week outweighed pressure from near record high production in Saudi Arabia.
Wall Street ended sharply higher on Monday after China moved to stimulate its slowing economy while investors bought up technology stocks on cautious optimism on upcoming earnings reports.
International Business Machines Corp reported a 12 percent fall in first-quarter revenue as the technology company continues to shed unprofitable businesses to focus on cloud-computing initiatives.
Founder Guy Laliberté has agreed to sell control of Cirque du Soleil, the world's largest theatrical production company, for about $1.5 billion, the Globe and Mail reported, citing sources familiar with the matter.
