Current Market News

Reuters: Business News

Saudi Arabia, Iraq boost oil output in November: OPEC sources

Dec 11 2016
VIENNA (Reuters) - Saudi Arabia, the world's top oil exporter, told the Organization of Petroleum Exporting Countries it pumped 10.72 million barrels per day in November, an OPEC source said, an increase from 10.625 million bpd in October.

Market 'paradigm shift' may be under way, but more volatility likely: BIS

Dec 11 2016
LONDON (Reuters) - Financial markets have been remarkably resilient to rising bond yields and sudden shift in outlook following last month's shock U.S. election result, but the sheer scale of uncertainties ahead means the adjustment will be "bumpy", the BIS said on Sunday.

Shrinking FX market could pose stability risk: BIS

Dec 11 2016
LONDON (Reuters) - Hedge funds and speculative investors have pulled back from the $5 trillion a day global currency market and less risk-taking by banks as well as reduced trading on multi-player platforms is a risk to future financial stability, the Bank of International Settlements said on Sunday.

Iran signs $16.6 billion deal for 80 Boeing planes: IRNA

Dec 11 2016
DUBAI (Reuters) - IranAir said it signed a deal on Sunday to buy 80 passenger planes from U.S. aircraft maker Boeing , state news agency IRNA reported, in the biggest U.S.-Iran deal since the 1979 Islamic revolution.

Hawkish Fed a potential speed bump for stock bulls

Dec 11 2016
NEW YORK (Reuters) - Next week's Federal Reserve meeting and possible signals on the pace of rate hikes for next year could pose the biggest risk yet to the rally the U.S. stock market has seen since last month's presidential election.

Cadillac disavows casting call for 'neo-Nazi' character in brand ad

Dec 11 2016
DETROIT (Reuters) - General Motors Co's Cadillac brand on Saturday disavowed a casting notice that called for an "alt-right (neo nazi)" role in a Cadillac commercial amid a storm of outrage on social media.

OPEC, non-OPEC agree first global oil pact since 2001

Dec 10 2016
VIENNA (Reuters) - OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries.

Prudential investigating Wells Fargo partnership after scandal

Dec 10 2016
NEW YORK (Reuters) - U.S. insurer Prudential Financial is investigating whether Wells Fargo employees signed up customers for its life insurance policies without their knowledge, a spokesman said on Saturday.