Germany's EU Commissioner Guenter Oettinger said on Monday it might still be possible for Greece and its creditors to reach a deal this week.
Sectors
Oil down 3 percent despite U.S. stockpile drop; pre-OPEC mood glum
Oil fell nearly 3 percent on Wednesday as traders and investors ignored a fifth straight weekly decline in U.S. crude stockpiles to focus instead on a big build in distillates, including diesel, as the peak season for U.S. road travel gets under way.
Greece will not pay IMF on Friday without prospect of a deal: lawmaker
Greece will not make a June 5 repayment to the International Monetary Fund if there is no prospect of an aid-for-reforms deal with its international creditors soon, the spokesman for the ruling Syriza party's lawmakers said on Wednesday.
Chinese economy faces more pain than gain this year
China's economic growth, already at its slowest in decades, will get worse before it gets better, as economists say it will take time before liberalizing reforms turn net positive, and Beijing needs to bite more such bullets for a sustainable turnaround.
Fed's Brainard: global troubles weighing on U.S., may delay rate hike
It may be impossible for the Federal Reserve to raise interest rates until the rest of the world economy improves, Fed board member Lael Brainard said on Tuesday, in the most direct acknowledgement yet of how weak global markets could handcuff the U.S. central bank.
Latest News
Microsoft Corp said on Monday its new Windows 10 operating system will be available worldwide on July 29, as a free upgrade for users of the most recent versions of Windows.
Greece is not a topic for leaders of the Group of Seven countries to discuss at a meeting in Bavaria starting on Sunday, a German government spokesman said, adding that it was up to Athens and its lenders to resolve the crisis.
U.S. stock index futures were higher on Monday, after closing down the previous week, as investors focused on the bright spots in China's factory activity data and ahead of a string of domestic economic data.
Crude oil prices dropped on Monday as the dollar rose and on expectations that OPEC production would remain high, stoking worries of oversupply despite declining U.S. rig operations.
U.S. shale oil producers, having weathered the worst price plunge in their industry's brief history, now face a dilemma: whether to stay in a defensive crouch after slashing their rig fleets, or start drilling more wells to capture a partial recovery in prices.
The head of an International Monetary Fund team visiting Ukraine gave a positive assessment of progress by Kiev on reform on Sunday and said there would be further discussion on loans that the near-bankrupt country badly needs.
OPEC is likely to keep its output target unchanged when it meets on Friday because the global oil market appears to be in good shape and prices are expected to firm up from current levels, a senior Gulf OPEC delegate told Reuters.
Greece and its European creditors agreed on the need to reach a cash-for-reforms deal quickly as Athens missed a self-imposed Sunday deadline for reaching an agreement to unlock aid, sources close to the talks said.
A Phase III trial of Pfizer Inc's Ibrance showed that, in combination with hormone therapy, the drug more than doubled the duration of disease control for women with the most common type of breast cancer.
