ALGIERS OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices. | Video
Banks & monetary policy
Recent Business News
NEW YORK The Federal Reserve and Bank of Japan's actions last week have given a second wind to an alternative investment strategy that relies on cheap money and low market volatility to produce outsized returns.
COPENHAGEN The world's largest insulin maker, Novo Nordisk, is cutting 1,000 jobs as a part of a plan to reduce costs as it faces a challenging environment in 2017, especially in the large U.S. market, the company said on Thursday.
SEOUL A South Korean court rejected a request by prosecutors for a warrant to arrest Lotte Group Chairman Shin Dong-bin in the latest twist in a wide-ranging corruption probe that has convulsed the country's fifth-largest family-run conglomerate.
ZURICH UBS Chief Executive Sergio Ermotti said on Thursday political uncertainty and concerns over global growth meant clients remained cautious about the market in the third quarter.
PARIS PSA Peugeot Citroen said it plans to sell more than 150,000 Peugeot vehicles in Iran in the second half of this year as the French carmaker seeks to reclaim the leading position it once enjoyed in the country.