April, 2017

• 27 April

  Pentagon’s watchdog probes Flynn speech payments

    Bloomberg The Defense Department’s inspector general is investigating whether former National Security Adviser Michael Flynn “failed to obtain required approval” for a speech to a Russia-backed media network, according to an April 11 letter released on Thursday by the top Democrat on the House Oversight Committee. The Democrat, Elijah Cummings of Maryland, also released an October 2014 letter from ...

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• 27 April

  Saudi banks strong in light of brewing changes in industry

  

    DUBAI / Reuters Shares in two Saudi banks that are in early merger talks moved in opposite directions on Thursday while other regional markets ended the week down as investors had little fresh company earnings and news to reallocate their funds or build positions. Alawwal Bank extended the previous session’s 8.6 percent gains, adding 2.2 percent. Shares in Saudi ...

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• 27 April

  US stocks mixed, euro falls on ECB

  

    Bloomberg US stocks fluctuated with the dollar as the Trump administration signaled its commitment to Nafta, while the euro edged lower after the European Central Bank boosted its assessment of the region’s economy without discussing tapering asset purchases. Crude sank below $49 a barrel. The S&P 500 Index’s move toward an all-time high faltered anew and Treasuries slipped after ...

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• 27 April

  China N-plant crucial for Westinghouse future

  

    Bloomberg The start-up of a nuclear power plant south of Shanghai later this year has a lot riding on it. It’ll be the first to use a new reactor designed by Westinghouse Electric Co., and its success is critical for the embattled company’s future. Development of the same AP1000 model has been disastrous for the firm in the US, ...

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• 27 April

  Oil market rebalancing after OPEC-led cuts: Aramco CEO

    PARIS / Reuters The oil market is moving towards a balance between supply and demand with the help of an agreement reached between OPEC and other producers to cut production, the chief executive of Saudi Aramco said on Thursday. OPEC, Russia and other producers agreed to cut output by 1.8 million barrels per day (bpd) for the first half ...

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• 27 April

  OPEC ministers to meet Russia to push extending cuts

  

    Bloomberg The energy ministers of OPEC members Saudi Arabia and Venezuela plan to meet their Russian counterpart to discuss extending oil-output cuts amid a developing consensus that they should prolong their joint effort to curb supply. Saudi Minister of Energy and Industry Khalid Al-Falih said that he will talk with Russia’s Alexander Novak by phone this week and meet ...

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• 27 April

  Nokia sales top estimates as network slump begins to ease

  

    Bloomberg Nokia Oyj reported first-quarter sales that topped analysts’ estimates as a slump in wireless-network demand began to ease and the company reaped more revenue for its patents. Revenue fell 4 percent to 5.39 billion euros ($5.9 billion), the Finnish network-equipment maker said on Thursday. Analysts predicted 5.28 billion euros, the average of estimates compiled by Bloomberg. Earnings of ...

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• 27 April

  Exports, investment boost S Korea economy

  

    Bloomberg South Korea’s economic growth accelerated in Q1 as a recovery in exports supported investment. Construction investment expanded, while consumption growth remained subdued. Gross domestic product expanded 0.9 percent in first quarter from previous 3 months, when it rose 0.5%, Bank of Korea said. The median estimate of economists surveyed by economists was for 0.8% growth. From a year ...

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• 27 April

  China bike wars drive Didi, Tencent into rival camps

  

    Bloomberg Didi Chuxing may be going up against its own patron, Tencent Holdings Ltd., by picking a rival side in China’s cut-throat bike-rental industry. China’s largest ride-hailing service said on Thursday it has integrated Ofo’s service into its own mobile app, granting the startup access to some 400 million users across 400 Chinese cities that use Didi to summon ...

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• 27 April

  China’s $290bn new area lifts hope for better cities

  

    Bloomberg China’s plan to build a new city about two hours drive from Beijing has raised hopes it may catalyze better urban design across the nation, enhancing economic efficiency and cutting air pollution. The potential for gains is huge in a country where tens of millions of rural residents will move into urban areas by the end of the ...

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