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Exclusive: China Development Bank supervising HNA asset sales – sources

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HONG KONG/BEIJING (Reuters) – China Development Bank (CDB) is leading a team to supervise HNA Group’s asset disposals as the heavily indebted conglomerate scales back operations to a point that will leave it holding only core assets, people familiar with the situation said. FILE PHOTO: A Chinese flag (C) flutters at the headquarters of China Read More

Exclusive: Chinese battery firm halts purchases of cobalt from Glencore – sources

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LONDON/BEIJING (Reuters) – Chinese battery firm GEM has stopped buying cobalt from Glencore as the price of the battery material crashed below that agreed in a three-year deal between the two companies, sources close to the matter said. FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Read More

Caterpillar CEO Jim Umpleby adds chairman role

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People visit heavy machinery of Caterpillar at Bauma China, the International Trade Fair for Construction Machinery in Shanghai, China November 27, 2018. Picture taken November 27, 2018. REUTERS/Aly Song (Reuters) – Caterpillar Inc (CAT.N) said on Thursday Chief Executive Officer Jim Umpleby would take on the additional role of chairman, effective immediately. Umpleby, a member Read More

Initial Jobless Claims Drop to 206K

14 hours ago DieselGasoil Comments Off on Initial Jobless Claims Drop to 206K
Ahead of the opening trading bell this morning Mario Draghi President of the 160 European Central Bank ECB is giving a news conference regarding bringing an end to the central bank s bond buying policy by the end of this month This program was much like the U S version Read More

U.S. confirms China soybean sale, but size disappoints

17 hours ago DieselGasoil Comments Off on U.S. confirms China soybean sale, but size disappoints
CHICAGO (Reuters) – China’s meager first purchase of U.S. soybeans since its trade war with the United States began in July disappointed farmers, grain traders and a U.S. government official hoping for larger sales to lift slumping prices and absorb a huge surplus across the U.S. farm belt, they said on Thursday. FILE PHOTO: Soybeans Read More

ECB stops its printing presses even as growth concerns rise

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FRANKFURT (Reuters) – The European Central Bank decided on Thursday to end its lavish asset purchase scheme but otherwise kept policy broadly unchanged, promising protracted stimulus for an economy struggling with an unexpected slowdown and political turmoil. The skyline with its financial district and the headquarters of the European Central Bank (ECB) are photographed in Read More

Asian shares rally on U.S.-China trade thaw

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SHANGHAI (Reuters) – Asian equity markets rallied on Thursday on signs of easing Sino-U.S. trade tensions and expectations that China will step up efforts soon to support its cooling economy. FILE PHOTO: An investor sits in front of a board showing stock information at a brokerage office in Beijing, China, December 7, 2018. REUTERS/Thomas Peter Read More

Vitol, rival oil traders in spotlight of Brazil bribery probe

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SAO PAULO/LONDON (Reuters) – Brazil’s epic “Car Wash” corruption investigation has taken down presidents and elite businessmen, and led to the largest corporate leniency deal ever signed. FILE PHOTO: Protesters display a banner and posters in front of the venue of commodities trader Glencore’s annual shareholder meeting in Zug, Switzerland May 2, 2018. REUTERS/Arnd Wiegmann Read More