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A fresh prince of OPEC brings a change in Saudi oil diplomacy

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London — OPEC has a new sheriff in town, Saudi energy minister Prince Abdulaziz bin Salman, who speaks softly but wields a big stick. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Making his debut as co-chair of a key OPEC/non-OPEC committee Thursday but hardly a debutant to oil Read More

Asia shares at six-week high on trade progress, ECB easing

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TOKYO/HONG KONG (Reuters) – Asian stocks climbed to their highest in six weeks on Friday, as signs of progress in U.S.-China trade talks and aggressive stimulus from the European Central Bank helped to calm fears of a global economic slowdown. FILE PHOTO: A man points out an electronic board showing the Nikkei stock index outside Read More

Asian shares advance on U.S.-China trade progress, ECB easing

4 days ago DieselGasoil Comments Off on Asian shares advance on U.S.-China trade progress, ECB easing
TOKYO (Reuters) – Asian stocks advanced on Friday as hints of progress in U.S.-China trade talks and aggressive stimulus from the European Central Bank helped counter worries about a global economic slowdown. FILE PHOTO: A man points out an electronic board showing the Nikkei stock index outside a brokerage in Tokyo, Japan, May 14, 2019. Read More

Trump favors ‘whole deal’ with China, two sides prepare for trade talks

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WASHINGTON (Reuters) – President Donald Trump said on Thursday he preferred a comprehensive trade deal with China but did not rule out the possibility of an interim pact, even as he said an “easy” agreement would not be possible. “I’d rather get the whole deal done,” Trump told reporters at the White House. “I see Read More

Washington, Beijing lay ground for trade deal talks; China buys U.S. soybeans

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BEIJING/WASHINGTON (Reuters) – The United States on Thursday welcomed China’s renewed purchases of U.S. farm goods while maintaining the threat of U.S. tariff hikes as the world’s two largest economies prepared the ground for talks aimed at breaking the logjam in their trade war. FILE PHOTO: China’s Ministry of Commerce spokesperson Gao Feng attends a Read More

Wall Street advances on trade concessions, euro zone stimulus

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NEW YORK (Reuters) – Wall Street advanced on Thursday, and the S&P 500 hovered a hair’s breadth below its all-time high, buoyed by positive developments on the U.S.-China trade front and a promise of continued stimulus from the European Central Bank. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) Read More

Draghi ties Lagarde’s hands with promise of indefinite stimulus

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FRANKFURT (Reuters) – European Central Bank chief Mario Draghi pledged indefinite stimulus on Thursday to revive an ailing euro zone economy, tying the hands of his successor for years to come and sparking an immediate conflict with U.S. President Donald Trump. As Draghi’s eight-year mandate nears its close, the ECB cut rates deeper into negative Read More

ECB action, hit by Trump as ‘hurting U.S. exports,’ ups pressure on Fed

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WASHINGTON (Reuters) – The European Central Bank’s move to cut interest rates and restart a larger stimulus program drew fast reaction from the White House on Thursday, with President Donald Trump saying the ECB was undercutting the value of its currency and “hurting U.S. exports.” “European Central Bank, acting quickly, Cuts Rates 10 Basis Points. Read More

Statement from the ECB following policy meeting

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FRANKFURT (Reuters) – Following is the statement from the European Central Bank following its policy meeting. At today’s meeting the Governing Council of the ECB took the following monetary policy decisions: (1) The interest rate on the deposit facility will be decreased by 10 basis points to -0.50%. The interest rate on the main refinancing Read More

ECB promises stimulus buys ‘as long as necessary’

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FRANKFURT (Reuters) – The European Central Bank promised an indefinite supply of fresh asset purchases and cut interest rates deeper into negative territory on Thursday, an effort to prop up the ailing euro zone economy that was cheered by financial markets. European Central Bank (ECB) President Mario Draghi attends a news conference on the outcome Read More