The Brent crude oil price at $100 a barrel would be “favorable” for both producers and consumers, Iraq’s Deputy Prime Minister for Energy said Friday, reinforcing a price target set by top OPEC producer Saudi Arabia earlier this year.
NICOSIA, Cyprus (AP) — Cyprus on Monday became the fifth eurozone country to request financial aid from its partners in the troubled European currency union as it struggles to shore up its banks, which took heavy losses on Greek debt.
The largest emerging markets, whose economies grew more than four-fold in the past decade, are making losers out of everyone from central bankers to Procter & Gamble Co. as their currencies post the biggest declines since at least 1998.
Clearing house LCH.Clearnet SA will increase the cost of using Italian government bonds to raise funds via its repo service, the company said on Wednesday, following up a similar move on Spanish debt made earlier this week.
International lenders and Greece will renegotiate the program on which the second financial bailout for Athens is based because the original has become outdated, a senior euro zone official said on Tuesday.
Samsung Electronics Co., the world’s biggest maker of mobile phones, was barred from selling its Galaxy Nexus smartphone in the U.S. by a second court ruling this week in its global patent dispute with Apple Inc.
The euro surged the most this year against the dollar after European leaders eased terms on loans to Spanish banks, taking a step to resolve the region’s debt crisis and boosting demand for the shared currency.
Stockton, California, said it will file for bankruptcy after talks with bondholders and labor unions failed, making the agricultural center the biggest U.S. city to seek court protection from creditors.
The RepublicSPECIAL REPORT-Chesapeake and rival plotted to suppress land pricesReuters* Chesapeake, Encana discussed how to avoid bid fight in Michigan-state land auction, documents show * Rivals discussed dividing up bids for oil and gas acreage ...
Central banks in developed nations are confronting the limits of their ability to aid economic recovery as government efforts to strengthen their finances fall short, the Bank for International Settlements said.