Oil prices firm on summer demand as Iran talks drag
Oil prices edged higher on Monday, underpinned by strong demand during the northern hemisphere summer driving season and a pause in talks to revive the Iran nuclear deal that could lead to a resumption of crude supplies from the OPEC producer.
Bank of Canada to break sequence of lower terminal rates as governments splurge
With fiscal spending booming and households flush with cash, investors are betting that the Bank of Canada’s next tightening cycle, expected to begin in 2022, will result in interest rates climbing above the previous peak for the first time in decades.
Italy, hosting G20, will call for tougher ‘gig economy’ rules
Italy will call for tougher rules governing ‘gig economy’ workers when it hosts labour ministers of the world’s biggest economies in the Group of 20 next week.
COVID deals new blow to foreign carmakers’ Indian dream
Foreign automakers’ hopes of a booming Indian car market are fading fast as a brutal second wave of COVID-19 infections and limited government room for more stimulus spending suggest a recovery could lag far behind China and the United States.
Yellen tells Mexican counterpart G20 countries should back global minimum tax
U.S. Treasury Secretary Janet Yellen met with Mexican finance minister Arturo Herrera on Thursday, stressing the importance of securing support from the Group of 20 major economies for a proposed global minimum tax, the Treasury said in a statement.
U.S. labor market healing despite unexpected rise in weekly jobless claims
The number of Americans filing new claims for unemployment benefits increased last week for the first time in 1-1/2 months, but layoffs are easing amid a reopening economy and a shortage of people willing to work.
EXCLUSIVE Chinese apps could face subpoenas or bans under Biden order -sources
President Joe Biden’s executive order aimed at safeguarding Americans’ sensitive data would force some Chinese apps to take tougher measures to protect private information if they want to remain in the U.S. market, according to people familiar with the matter.
Nasdaq closes up on tech stocks strength, as hawkish Fed limits S&P
Conviction in the strength of the economic recovery pushed investors into U.S. technology stocks on Thursday, driving the Nasdaq higher, although a post-Fed hangover left a subdued S&P nursing a very minor loss.
Oil falls amid dollar strength; demand picture still bullish
Oil prices fell for a second straight session on Friday as the U.S. dollar soared on the prospect of interest rate hikes in the United States, but they were on track to finish the week little changed and only slightly off multi-year highs.
Bristol-Myers, Eisai in up to $3.1 bln deal to develop cancer drug candidate
Bristol-Myers Squibb Co (BMY.N) and Eisai Co said on Thursday they had entered into an agreement worth up to $3.10 billion to jointly develop and market an experimental cancer drug.
