Oil extends gains on OPEC+ supply discipline and demand prospects
Oil rose on Wednesday, supported by an OPEC+ decision to stick to its plan to restore supply to the market gradually and by the slow pace of nuclear talks between Iran and the United States.
Biden suspends Trump-era oil and gas leases in Alaska refuge
U.S. President Joe Biden’s administration on Tuesday said it would suspend oil and gas leases that were handed out in an Alaska wildlife refuge during the final days of the Trump administration pending an environmental review.
Analysis: China’s banks are bursting with dollars, and that’s a worry
A mountain of dollars on deposit in China has grown so large that banks are struggling to loan the currency and traders say it poses a risk to official efforts to control a fast-rising yuan.
U.S. manufacturing gains steam; raw material, labor shortages mounting
U.S. manufacturing activity picked up in May as pent-up demand amid a reopening economy boosted orders, but unfinished work piled up because of shortages of raw materials and labor.
Zoom forecasts upbeat revenue, expects boost from hybrid work
Zoom Video Communications Inc (ZM.O) on Tuesday forecast current-quarter revenue above estimates, as increased adoption of hybrid work models by companies is expected to drive steady demand for its video conferencing tools.
EU reaches deal on tax transparency for multinational firms
European Union government and parliament negotiators reached a deal on Tuesday on rules that will force large multinational companies to disclose how much revenue and tax they pay in the 27-nation bloc and how much in countries considered tax havens by the EU.
REUTERS EVENTS Bank of England’s Bailey unconvinced by carbon capital rules
Bank of England Governor Andrew Bailey said on Tuesday there was no case yet for making financial institutions set aside more capital for climate change risks, even though markets were underpricing the danger of disruption.
Fed’s Brainard: more ‘progress’ on recovery ahead, though still far from goals
The United States is getting closer to the Fed’s maximum employment and 2% inflation goals, Fed Governor Lael Brainard said on Tuesday, but the depth of the remaining problem still requires the central bank to stick to its super-easy monetary policy until more progress is seen.
OPEC+ seen sticking with supply plan with Iran’s oil yet to return
OPEC+ is likely to stick to the existing pace of gradually easing oil supply curbs at a meeting on Tuesday, five OPEC sources said, as producers balance expectations of a recovery in demand against a possible increase in Iranian supply.
Only 13% of NatWest staff to return to office full-time
Britain’s NatWest (NWG.L) expects only about 13% of its staff to return to primarily office-based working, the lender said on Tuesday as it revealed a three-pronged approach to post-pandemic working habits.
