Brent holds above $60, but heads for fifth weekly drop

SINGAPORE - Brent crude futures held above $60 a barrel on Friday as strong U.S. economic data supported the market, but oil prices were track for their fifth straight weekly decline as a building supply glut capped gains.

Recent Business News

Russia says ruble crisis over as reserves dive, inflation climbs

MOSCOW - Russia said on Thursday its currency crisis was over even though its forex reserves have plunged and annual inflation has climbed above 10 percent, adding to the problems facing the government as it fights its worst economic crisis since 1998.

9:22am EST

Subaru scraps plan to shift Crosstrek production to U.S.: source

TOKYO - Fuji Heavy Industries , the maker of Subaru brand cars and SUVs, has scrapped a plan to shift production of the new XV Crosstrek to its U.S. plant and will instead make the SUV in Japan, a source familiar with the company's production plans said.

12:19am EST

U.S. jobless claims fall to seven-week low

WASHINGTON - The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, underscoring the economy's sustained strength.

24 Dec 2014

Exclusive: U.S. minimum wage hikes to affect 1,400-plus Walmart stores

CHICAGO - Minimum wage increases across the United States will prompt Wal-Mart Stores Inc to adjust base salaries at 1,434 stores, impacting about a third of its U.S. locations, according to an internal memo reviewed by Reuters. | Video

24 Dec 2014

China offers fresh support for outbound investment

BEIJING - China will simplify currency rules and step up credit support for firms investing overseas, the cabinet said on Wednesday.

24 Dec 2014


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