The number of U.S. drilling rigs in use fell sharply in the week to Friday, almost doubling the cuts of the past two weeks and hitting the lowest since April 2011, a survey showed.
Sectors
U.S. Republican hopefuls Bush, Walker change their tune on ethanol
Potential Republican presidential candidates Jeb Bush and Scott Walker told Iowa voters on Saturday that they supported government policies to boost ethanol use, a change in position that could help their prospects in the corn-growing state.
Egypt targets FDI worth $60 billion over four years: minister
Egypt wants to attract foreign direct investments worth $60 billion and to get an average growth rate of 7 percent over the next four years, the country's planning minister said.
UK finance minister planning 'diverted profits tax': Sunday Times
Britain's finance minister, George Osborne, is planning to introduce a new "diverted profits tax" targeting multinational companies judged to have shifted profits overseas to avoid tax, the Sunday Times newspaper reported, citing government sources.
Layoffs and empty streets as Australia's boom towns go bust
When Probo Junio got a visa to work in Australia, he thought he had won a ticket to the good life. In 2013, the 45-year-old boilermaker left his hometown of Cebu in the Philippines, where he was getting paid about $10 a day, to work in Karratha in Western Australia for $30 an hour. Enough to support his relatives and build a new life Down Under.
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China hopes to finish talks on creating an Asian free-trade bloc estimated to cover 28 percent of the world economy by the end of this year, the country's trade minister said on Saturday.
Greece sent its euro zone partners an augmented list of proposed reforms on Friday but EU officials said several more steps were required before any release of aid funds to a country that Prime Minister Alexis Tsipras says has a noose around its neck.
Iranian businessman Cyrus Etemadi has had a stand at Berlin's ITB travel trade fair every year for more than 20 years, even when tension with the West meant few tourists visited the former ancient kingdom of Persia.
When Israeli Prime Minister Benjamin Netanyahu urged the United States this week to take a tough line against Iran, he argued that world powers could always push for a better nuclear deal because the Islamic Republic was vulnerable to low oil prices.
The Obama administration on Friday said it would start using emergency cash measures to allow the government to keep paying the nation's bills once it hits the legal debt limit in about a week.
Greece must realize there is no other way than to reform, European Central Bank governing council member Luc Coene said in an interview published on Saturday, telling Greeks they had been sold "false promises" by radical leftists now in power.
Bank of Canada Governor Stephen Poloz said recent evidence suggests damage from the oil shock is hitting the economy earlier and spreading faster than anticipated, but that this could also point to an earlier rebound, the Globe and Mail reported on Friday.
China should remain flexible on M2 growth expectations and not be overly concerned about meeting numerical targets, People's Bank of China chief Zhou Xiaochuan told a news conference, the official Shanghai Securities News reported.
Fiat Chrysler Automobiles is recalling 702,578 SUVs and minivans to fix defective ignition switches that can unexpectedly turn off the engine, according to documents posted Friday by U.S. safety regulators.
