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Venezuela’s oil production set for another drop

8 hours ago DieselGasoil Comments Off on Venezuela’s oil production set for another drop
Venezuela’s oil production fell to a new low last month, as economic crisis and sanctions continue to strangle the industry. Venezuela’s output fell by 35,000 bpd in May, plunging to 741,000 bpd for the month, according to OPEC’s secondary sources, the lowest total in about a half century. The problems for Venezuela are not new Read More

Asian stocks tick up, oil rises amid U.S.-Iran tensions

19 hours ago DieselGasoil Comments Off on Asian stocks tick up, oil rises amid U.S.-Iran tensions
TOKYO (Reuters) – Asian shares edged up on Monday as investors pinned their hopes on any signs of a thaw in Sino-U.S. trade negotiations, while oil prices firmed on heightened tensions between the United States and Iran. A passerby walks past in front of a stock quotation board outside a brokerage in Tokyo, Japan, May Read More

Asian stocks subdued, oil rises on U.S.-Iran tensions

22 hours ago DieselGasoil Comments Off on Asian stocks subdued, oil rises on U.S.-Iran tensions
TOKYO (Reuters) – Asian shares were off to a cautious start on Monday as investors pinned their hopes on any signs of a thaw in Sino-U.S. trade negotiations while oil prices firmed on worries over heightened tensions between the United States and Iran. A passerby walks past in front of a stock quotation board outside Read More

U.S. banks clear first hurdle of Federal Reserve’s annual stress test

3 days ago DieselGasoil Comments Off on U.S. banks clear first hurdle of Federal Reserve’s annual stress test
WASHINGTON (Reuters) – The 18 largest banks operating in the United States took the first step toward doling out capital on dividends, share buybacks and other investments on Friday, after clearing the first stage of their yearly health checks with the U.S. Federal Reserve that assess their ability to weather a major economic downturn. The Read More

Russia squeezing embattled Venezuela for tax-free gas expansion

4 days ago DieselGasoil Comments Off on Russia squeezing embattled Venezuela for tax-free gas expansion
By Fabiola Zerpa and Peter Millard on 6/20/2019 CARACAS and RIO DE JANEIRO (Bloomberg) — Russia’s state-controlled oil giant, Rosneft PJSC, is extracting concessions from crisis-ridden Venezuela to enter the offshore natural gas market on the cheap, a potential headache for the U.S. and Europe. An accord signed by both Russia and Venezuela earlier this month Read More

Factbox: What is Slack?

5 days ago DieselGasoil Comments Off on Factbox: What is Slack?
(Reuters) – Slack Technologies Inc, whose instant messaging app has taken workplaces by storm, is scheduled to go public via a direct listing on June 20, instead of the more popular initial public offering route. Slack Technologies Chief Financial Officer Allen Shim in this undated photo released from Slack Technologies Inc, in San Francisco, California, Read More

Nvidia boosts self-driving AI business with Volvo trucks deal

6 days ago DieselGasoil Comments Off on Nvidia boosts self-driving AI business with Volvo trucks deal
STOCKHOLM (Reuters) – Sweden’s AB Volvo is joining forces with Nvidia to develop artificial intelligence used in self-driving trucks, in a boost for the U.S. chipmaker that was ditched by Tesla last year. FILE PHOTO: A Volvo logo is pictured on the stand during the 87th International Motor Show at Palexpo in Geneva, Switzerland, March Read More

Pfizer makes $10.6 billion cancer bet in cash deal for Array Biopharma

1 week ago DieselGasoil Comments Off on Pfizer makes $10.6 billion cancer bet in cash deal for Array Biopharma
(Reuters) – Pfizer Inc said on Monday it would buy Array Biopharma Inc for $10.64 billion in cash, a deal it hopes will help make it a leader in colon cancer and build up its pipeline of oncology drugs. FILE PHOTO: The Pfizer logo is seen at their world headquarters in Manhattan, New York, U.S., Read More

Sotheby’s snapped up by French tycoon Drahi for $3.7 billion

1 week ago DieselGasoil Comments Off on Sotheby’s snapped up by French tycoon Drahi for $3.7 billion
PARIS/BOSTON (Reuters) – Franco-Israeli cable magnate Patrick Drahi made a surprise move into the art world by snapping up Sotheby’s in a deal worth $3.7 billion, marking the art auction house’s return to private ownership after 31 years. The acquisition allows Drahi to join French billionaire Francois Pinault – who owns Sotheby’s main rival Christie’s Read More

Fed may cut rates near zero if U.S.-China trade worsens: Morgan Stanley

1 week ago DieselGasoil Comments Off on Fed may cut rates near zero if U.S.-China trade worsens: Morgan Stanley
FILE PHOTO: The Federal Reserve building is pictured in Washington, DC, U.S., August 22, 2018. REUTERS/Chris Wattie/File Photo NEW YORK (Reuters) – The Federal Reserve may lower U.S. interest rates to near zero by the spring of 2020 if U.S.-China trade relations deteriorate further and tip the U.S. economy into a recession, according to Morgan Read More