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From oil shocks to funding strains, Fed confronts new complexities

1 min ago DieselGasoil Comments Off on From oil shocks to funding strains, Fed confronts new complexities
WASHINGTON (Reuters) – The Federal Reserve will conclude its latest policy meeting on Wednesday buffeted by conflicting economic data, under steady pressure from the White House for steep interest rate cuts, and confronted as well with an unexpected jump in overnight borrowing costs that may require action on its own. FILE PHOTO: U.S. Federal Reserve Read More

Apple says $14 billion EU tax order ‘defies reality and common sense’

2 mins ago DieselGasoil Comments Off on Apple says $14 billion EU tax order ‘defies reality and common sense’
LUXEMBOURG (Reuters) – The European Union’s order to Apple (AAPL.O) to pay 13 billion euros ($14 billion) in back taxes “defies reality and common sense”, the U.S. firm said as the two sides sparred in a case key to the EU’s crackdown on sweetheart deals to multinationals. The iPhone maker is appealing to Europe’s second Read More

Facebook oversight board won’t have mandate to change policy

2 mins ago DieselGasoil Comments Off on Facebook oversight board won’t have mandate to change policy
WASHINGTON, D.C. (Reuters) – Facebook Inc will allow a new outside oversight board to make final decisions on whether individual pieces of content can be displayed on the social media site, but the group won’t be able to make policy changes, the company said on Tuesday. FILE PHOTO: Silhouettes of laptop users are seen next Read More

Dubai futures: Sour crude still pricing in Middle East risk despite reassurances

31 mins ago DieselGasoil Comments Off on Dubai futures: Sour crude still pricing in Middle East risk despite reassurances
Singapore — Spreads for benchmark Dubai crude futures were mixed in mid-morning trading hours on Wednesday, as market participants continue to price in risk premia for the Middle East following an overnight press conference by the country’s new energy minister, Prince Abdulaziz bin Salman. Not registered? Receive daily email alerts, subscriber notes & personalize your Read More

Asia middle distillates ease on anticipated Saudi’s production return

31 mins ago DieselGasoil Comments Off on Asia middle distillates ease on anticipated Saudi’s production return
Singapore — The Asian middle distillates markets eased on expectations that Saudi Arabia would restore most of the crude oil production affected by Saturday’s attacks on two of its key oil facilities by the end of the month, trade sources said Wednesday. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Read More

Asian gasoline retreats on Saudi reassurance it will restore output in 2 weeks

31 mins ago DieselGasoil Comments Off on Asian gasoline retreats on Saudi reassurance it will restore output in 2 weeks
Singapore — Asian gasoline cracks plunged mid-morning Wednesday from multi-month highs, after overnight news that Saudi Arabia will restore most of its crude production at its affected Abqaiq oil processing facility within two weeks. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Based on indications from market participants at Read More

Cycle of panic & death: Humankind totally not ready for global pandemic, emergency preparedness group warns

3 hours ago DieselGasoil Comments Off on Cycle of panic & death: Humankind totally not ready for global pandemic, emergency preparedness group warns
A sudden lethal pandemic could wipe out tens of millions of people, destroy the world’s economies, and leave humanity in chaos, according to a new report from an emergency preparedness body that isn’t alarmist in the slightest. Citing a reactionary “cycle of panic and neglect” in which health emergencies are dealt with as they arise, Read More

Guggenheim’s Minerd says aggressive Fed moves can delay recession, but not avoid it

3 hours ago DieselGasoil Comments Off on Guggenheim’s Minerd says aggressive Fed moves can delay recession, but not avoid it
FILE PHOTO: Scott Minerd, Chairman of Guggenheim Investments and Global Chief Investment Officer, speaks during the Reuters Global Investment 2019 Outlook Summit, in New York, U.S., November 12, 2018. REUTERS/Brendan McDermid/File Photo NEW YORK (Reuters) – Guggenheim Partners global chief investment officer Scott Minerd warned on Tuesday the firm’s recession forecast model showed a 58% Read More

US believes attacks came from Iran as oil supplies resume

4 hours ago DieselGasoil Comments Off on US believes attacks came from Iran as oil supplies resume
By Sharon Marris, news reporter The attack on Saudi Arabia’s oil facilities originated from inside Iran, according to US media reports. It comes as the Saudi energy minister announced that half of the crude oil production cut after the attack had been restored. The remainder will be fully restored by the end of the month, Read More