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Oil prices fall 3 percent as investors focus again on glut
March 30th, 2016
Oil prices fell about 3 percent on Tuesday, reflecting growing concern that a two-month rally was fading as demand fails to keep up with swelling global supply, including new output from Kuwait and Saudi Arabia. Prices bounced, but only ...
Most Asian markets up in wake of dovish Yellen remarks, but Nikkei lags
March 30th, 2016
Most Asian markets advanced after remarks from Federal Reserve chair Janet Yellen assuaged concerns about a near-term interest rate hike, but Japan’s shares retreated as the yen strengthened. “Janet Yellen doubled down on dovishness, in a speech full of risks to ...
Oil Prices Edge Down Amid Little-Improved Supply Picture
March 29th, 2016
Oil prices edged down Monday, extending last week’s decline, as traders returned from a long holiday weekend to a market with little improvement in supply-and-demand conditions. The benchmark U.S. contract fell 0.2% to $39.39 a barrel on the New ...
IBM blockchain leader Jerry Cuomo using ‘shadowchains’ to launch moonshots
March 28th, 2016
IBM has been building momentum behind blockchain by championing the Linux Foundation’s Hyperleder Project and creating its own Open Blockchain (OBC) among other things. IBM’s vice president of blockchain Jerry Cuomo, who recently gave testimony before US Congress about ...
Virtual Currency that is rival to Bitcoin, attracts attention and has soared in value
March 28th, 2016
A new virtual gold rush is underway. Even as Bitcoin, riven by internal divisions, has struggled, a rival virtual currency — known as Ethereum — has soared in value, climbing 1,000 percent over the last three months. Beyond the ...
Oil to rebound to around $50 by year end – Saxo Bank
March 28th, 2016
Several factors are helping oil prices gain ground The past two months of oil price volatility have taken its toll on the financial markets, with the main culprits for this dramatic price fall being excess production, concerns about a ...
PwC to elect a new UK chairman; lines up candidates
March 24th, 2016
PwC has begun the process of electing a new UK chairman and senior partner to succeed Ian Powell, who steps down at the end of June, with four candidates from the firm’s executive board putting their names forward for ...
HSBC reports on Oil prices scenarios
March 24th, 2016
Despite hopes that lower oil prices will stabilise global growth, experience suggests otherwise. Growth was disappointing in 2015 even though the oil price had plunged in 2014. While developed-world consumer spending grew at the fastest rate since before the ...
Italy’s antitrust watchdog investigates six consultancy firms
March 23rd, 2016
Italy’s competition authority is investigating six consultancy firms over allegedly coordinating their offers in a public tender for services to the national public administration, the watchdog said in a statement on Wednesday. Rome and Milan offices of Deloitte & ...
OPEC expects upsurge in oil prices with or without Iran
March 23rd, 2016
Crude prices will rise to a “moderate level” even if Iran joins the Russian-Saudi production freeze at a later date, predicts the Organization of the Petroleum Exporting Countries (OPEC). The world’s leading oil producers, including non-OPEC members, are meeting ...
