LONDON An agreement by OPEC members to curb output boosted oil company shares on Thursday, lifted the currencies of crude-producing countries, and drove yields on low-risk government debt higher.
Banks & monetary policy
Recent Business News
PARIS/FRANKFURT Alarmed by the threat posed by Silicon Valley firms to their businesses in developing autonomous driving systems, it was evident at the Paris Motor Show this week that carmakers are seeking to fight back by cooperating in areas of technology development where previously they might have tried to compete.
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.
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.
TOKYO Three Japanese conglomerates are in talks to combine their loss-making domestic nuclear fuel operations, people with direct knowledge of the matter said, as the outlook for restarts of reactors following the Fukushima nuclear crisis remains bleak.
FRANKFURT Commerzbank on Thursday said it would cut nearly 10,000 jobs or more than a fifth of its workforce and stop paying dividends for the time being as it restructures to become profitable on a more sustainable basis by 2020.