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Wall St. slips after three days of gains; Home Depot rises

6 hours ago DieselGasoil Comments Off on Wall St. slips after three days of gains; Home Depot rises
(Reuters) – Wall Street’s main indexes edged lower on Tuesday after three sessions of gains, as lower Treasury yields weighed on financial stocks, offsetting a boost from Home Depot’s better-than-expected quarterly earnings. FILE PHOTO: A trader works on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 14, 2019. REUTERS/Eduardo Read More

Hong Kong billionaire’s Husky bet loses over 80% in a decade

7 hours ago DieselGasoil Comments Off on Hong Kong billionaire’s Husky bet loses over 80% in a decade
By Michael Bellusci on 8/20/2019 TORONTO (Bloomberg) – Hong Kong billionaire Li Ka-shing’s oil sands investment is hurting — and some analysts are calling on him to stop the bleeding. Shares of Calgary-based Husky Energy Inc. have plummeted over 80% since its 2008 peak on a myriad of reasons: a slump in oil prices, a Read More

Hedge fund manager Kyle Bass sees ‘shallow recession’ potentially in 2020: CNBC

7 hours ago DieselGasoil Comments Off on Hedge fund manager Kyle Bass sees ‘shallow recession’ potentially in 2020: CNBC
FILE PHOTO: Kyle Bass, founder of Hayman Capital Management, speaks during the Reuters Global Investment 2019 Outlook Summit in New York, U.S., November 14, 2018. REUTERS/Brendan McDermid (Reuters) – Hedge fund manager Kyle Bass told CNBC on Tuesday that he sees a “shallow recession” potentially in 2020, also adding that he thinks U.S. interest rates Read More

Wall Street set to snap three-day win streak as financials weigh

8 hours ago DieselGasoil Comments Off on Wall Street set to snap three-day win streak as financials weigh
(Reuters) – U.S. stocks eased on Tuesday after three sessions of strong gains, weighed by declines in financial companies, while better-than-expected results propped up retailer Home Depot. FILE PHOTO: A trader works on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 14, 2019. REUTERS/Eduardo Munoz After a stormy start Read More

Exclusive: Cigna seeks sale of group benefits insurance business – sources

8 hours ago DieselGasoil Comments Off on Exclusive: Cigna seeks sale of group benefits insurance business – sources
(Reuters) – U.S. health insurer Cigna Corp (CI.N) is exploring a sale of its group benefits insurance business, which could be valued at as much as $6 billion, four people familiar with the matter said on Tuesday. FILE PHOTO: A screen displays the logo fro Cigna Corp. on the floor at the New York Stock Read More

Israeli pipeline could boost Europe-Asia crude supply options

9 hours ago DieselGasoil Comments Off on Israeli pipeline could boost Europe-Asia crude supply options
Highlights EAPC eyes broader crude transit role 600,000 b/d crude line offers Suez, SUMED alternative Middle East incidents see producers reassess supply routes London — Expanding Israeli pipeline and storage operations between the Mediterranean and Red Sea could benefit from changing crude and product flows and heightened security of supply issues across the Middle East. Read More

Humbled Deutsche Bank faces battle in its own backyard

17 hours ago DieselGasoil Comments Off on Humbled Deutsche Bank faces battle in its own backyard
FRANKFURT (Reuters) – Online retailer Zalando is just the kind of fast-growing German business with foreign expansion plans that Deutsche Bank Chief Executive Christian Sewing needs to help drive the struggling lender’s recovery. FILE PHOTO: The logo of Deutsche Bank is pictured on a company’s office in London, Britain July 8, 2019. REUTERS/Simon Dawson/File Photo Read More

Indonesian planters see drought hitting palm oil output

18 hours ago DieselGasoil Comments Off on Indonesian planters see drought hitting palm oil output
KUALA LUMPUR/JAKARTA (Reuters) – Leading palm oil players in Indonesia see production growth being hit in the short to medium term, as the world’s top grower of the edible oil faces drought across major planting regions that is expected to delay fruit ripening and lower output. FILE PHOTO: A worker unloads palm fruit at a Read More

Japan Inc backs Abe’s tough trade stance vs South Korea amid row: Reuters poll

23 hours ago DieselGasoil Comments Off on Japan Inc backs Abe’s tough trade stance vs South Korea amid row: Reuters poll
TOKYO (Reuters) – Japanese companies broadly support Prime Minister Shinzo Abe’s tough trade stance against South Korea, a Reuters poll found. FILE PHOTO: Japan’s Prime Minister Shinzo Abe, who is also ruling Liberal Democratic Party leader, speaks at a debate session ahead of July 21 upper house election at the Japan National Press Club in Read More