A global oil glut is building as OPEC kingpin Saudi Arabia pumps near record highs in an attempt to win a market-share battle against stubbornly resistant U.S. shale production, the International Energy Agency (IEA) said on Wednesday.
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WeChat is Tencent's ace in China's online entertainment race
In a multi-billion dollar dogfight with Alibaba Group Holding Ltd for leadership in China's online entertainment market, mobile messaging app WeChat is Tencent Holdings Ltd's trump card.
Euro zone economy picks up pace but Germany lags
A slowdown in Germany weighed on the euro zone in the first quarter, but the bloc's economy still grew at its fastest in almost two years as cheap food and fuel boosted spending and a central bank stimulus program kicked in.
U.S. mortgage applications fall in latest week: MBA
Applications for U.S. home mortgages fell last week as interest rates rose to the highest level since March, an industry group said on Wednesday.
China economy loses more steam in April, further stimulus on the cards
China's money supply grew at its slowest pace on record and investment growth sank to its lowest in nearly 15 years as April data showed the world's second-largest economy was still losing momentum despite a concentrated burst of policy easing.
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Oil rose 3 percent on Tuesday, the most in three weeks, as a weak dollar lifted commodities denominated in the currency and OPEC raised slightly its forecast for world oil demand growth.
Citing steady demand from airlines, Boeing Co (BA.N) said on Tuesday it is capable of raising 737 jetliner output by 43 percent to 60 a month, as it gave a rosy outlook despite concerns about orders, overall production and defense spending.
Volkswagen (VOWG_p.DE) Group will break up MAN (MANG.DE) and transfer its truck and bus businesses, as well as MAN Latin America, into VW's new Truck & Bus Holding GmbH, German daily Frankfurter Allgemeine Zeitung said.
A Picasso oil painting from 1955 smashed the record for the most expensive artwork ever sold at auction when it soared to $179.4 million at Christie's on Monday.
Castleton Commodities International will buy Morgan Stanley's (MS.N) physical oil business, vaulting the Connecticut-based merchant into the big leagues of global crude and fuel traders.
Uber is testing cash payments in India as the online taxi-hailing company seeks a stronger foothold in a country where many fewer people have credit cards than internet connections.
Oil edged lower on Monday on signs that a multi-week rally was encouraging a rejuvenation in already bloated U.S. shale supplies, even as the government expected less output in June from the fastest-growing fields.
The Federal Reserve drew together extensive plans for handling a U.S. debt default that included scheduling deferred payments and lending cash to investors, according to a top lawmaker who cited Fed documents.
China's smartphone market has reached saturation, according to a new study by industry analyst IDC that carries potentially significant implications for the global handset industry led by giants like Apple Inc (AAPL.O) and Samsung Electronics Co Ltd (005930.KS).
