Oil producers group OPEC can ride out a slump in oil prices and keep output unchanged, its head said on Sunday, arguing market weakness did not reflect supply and demand fundamentals and could have been driven by speculators.
Sectors
Accor announces strategic partnership with China Lodging
French hotel operator Accor announced a strategic alliance with China Lodging Group on Sunday to create a major new player in the fast-growing Chinese domestic travel and hospitality market.
Technip rules out CGG bid after talks fail
Technip (TECF.PA) has ruled out making an offer for seismic surveys specialist CGG (GEPH.PA) after talks with the company failed to produce an agreement, the French oil services group said on Sunday.
BC Partners to acquire PetSmart for $8.7 billion
Pet supply retailer PetSmart Inc succumbed to calls from some shareholders for a sale on Sunday with an agreement to be bought by a private equity consortium led by BC Partners Ltd for $8.7 billion, in the largest leveraged buyout of the year.
Xiaomi's India smartphone ban exposes wider patent risk
The court order that banned Chinese mobile maker Xiaomi from selling its phones in India has halted its breakneck expansion into the world's fastest growing major smartphone market and could be just the start of a string of patent challenges.
Latest News
The U.S. Federal Reserve would give the clearest signal next week that its easy money stance is ending if, as some expect, it drops its two-year long pledge to keep interest rates close to zero for a "considerable time".
For the past 18 months, Americans from Albany to Oregon have voiced growing alarm over the rising number of oil-laden freight trains coursing through their cities, a trend they fear is endangering public safety.
The U.S. Senate on Saturday passed a $1.1 trillion spending bill that lifts the threat of a government shutdown as Congress attempts to wrap up a two-year legislative session marked by bitter partisanship and few major accomplishments.
A private equity consortium of Carlyle Group LP (CG.O) and Warburg Pincus LLC is in advanced talks to acquire privately held credit rating agency DBRS Ltd for more than $500 million, according to people familiar with the matter.
A New Jersey college said on Saturday it has completed its $18 million purchase of the shuttered Showboat Atlantic City casino resort from Caesars Entertainment Corp (CZR.O), a deal that would usher in a new dormitory and a branch campus.
Hacking of computers at Belgian telecoms firm Belgacom, alleged to have been carried out by a British spy agency, was more far-reaching than previously thought and went undetected for more than two years, according to reports published on Saturday.
An online buyer from New York overcame spirited bidding to grab a painting by modern Indian artist Tyeb Mehta for $2.8 million at a Christie's auction in Mumbai, highlighting global interest in the finest works of Indian art.
Novartis said on Friday its experimental psoriasis drug Cosentyx was better at clearing the rough skin patches associated with the disease than Johnson & Johnson's Stelara.
Bundesbank President Jens Weidmann said the European Commission's decision to give France longer to prove it is serious about economic reform and fixing its excessive public deficit risks damaging the credibility of the bloc's budget rules.
