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U.S. plan to sell oil reserves undermines OPEC supply management efforts

SINGAPORE U.S. President Donald Trump's proposal to sell half of the United States' strategic oil reserve surprised energy markets on Tuesday since it counters OPEC's efforts to control supply in order to boost prices.

Recent Business News

As Syngenta deal closes, ChemChina and Sinochem press $120 billion deal: sources

HONG KONG/BEIJING Chinese state-owned Sinochem and ChemChina are in merger talks to create the world's biggest industrial chemicals firm, to be headed by Sinochem chief Ning Gaoning, four people with knowledge of the negotiations said.

Deals, China 7:23am EDT

Daimler says German prosecutors search premises in emissions probe

FRANKFURT German carmaker Daimler on Tuesday said the Stuttgart public prosecutor’s office would search Daimler premises as part of a fraud probe related to the possible manipulation of exhaust-gas after-treatment in diesel-engine cars.

8:32am EDT

CEOs of Target, ADM to square off on U.S. border tax at hearing

WASHINGTON The chief executive officers of two major American companies - retailer Target Corp and agribusiness Archer Daniels Midland Co - will offer countering views in a hearing before U.S. lawmakers on Tuesday on a proposed border adjustment tax.

7:39am EDT

German Fin Min sees deal for Greece in three weeks 'if all goes well'

BRUSSELS Germany's Finance Minister Wolfgang Schaeuble expressed some confidence on Tuesday that Greece's international creditors would overcome their differences and agree in three weeks on a deal that would release more loans to Athens.

7:54am EDT

Trial over RBS 2008 cash call faces further delay amid settlement talks

LONDON A trial in which Royal Bank of Scotland is accused by investors of misleading them over its 2008 fundraising is set to be delayed for a second day, as frantic settlement talks between the claimants and the bank continued in London on Tuesday.

3:32am EDT

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