crude-prices

Oil rally to resume later this year, demand to offset glut: Reuters poll

A survey of 29 economists and analysts forecast Brent crude will average $45.51 per barrel in 2016, up marginally from last month's forecast of $45.20, and about $3.55 higher than the $41.96 average so far this year.     “We project solid global demand growth in 2016 (1.4 million barrels per day), and a reasonable growth in 2017 (+1.1 MMBbl/d), mostly driven by China, India and Africa. As such, demand should help to drive prices higher,” said Raymond James analyst Luana Siegfried.

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Oil rally to resume later this year, demand to offset glut: Reuters poll

crude-prices

Credit Suisse to create U.S. banking business for billionaire

Credit Suisse Group AG , which exited its U.S. private wealth business last year, is building out a new investment banking group in the region to serve billionaires. Switzerland's second-biggest bank has hired Charlie Buckley from rival UBS Group AG to work with

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Credit Suisse to create U.S. banking business for billionaire

crude-prices

Chevron posts largest quarterly loss since 2001 on weak oil prices

HOUSTON (Reuters) – Chevron Corp, the second-largest U.S.-based oil producer, posted a second-quarter loss on Friday, its largest since 2001, due to the slump in crude prices and refining income. The company lost $1.47 billion, or $1.07 per share, compared with a net profit of $571 million, or 30 cents per share, in the year-ago period. Production fell about 3 percent to 2.53 million barrels of oil equivalent per day (boe

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Chevron posts largest quarterly loss since 2001 on weak oil prices

crude-prices

Pep Boys says Icahn offer is superior, moves to terminate Bridgestone deal

Icahn's latest bid of $18.50 per share on Monday values Pep Boys at about $1 billion, while Bridgestone's previous offer of $17 per share valued the company at about $947 million. Pep Boys said that its board has delivered a notice to Bridgestone to terminate

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Pep Boys says Icahn offer is superior, moves to terminate Bridgestone deal

crude-prices

U.S. holiday retail sales grow a ‘solid’ 7.9 percent: MasterCard

(Reuters) – Strong online sales and demand for furniture and women's apparel helped U.S. retail sales grow by a “solid” 7.9 percent this holiday season, according to MasterCard Advisors SpendingPulse. U.S. retail sales, excluding automobiles and gas, had grown 5.5 percent in the period between Black Friday and Christmas Eve last year. Online sales grew 20 percent in the holiday season this year, MasterCard

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U.S. holiday retail sales grow a ‘solid’ 7.9 percent: MasterCard

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Oil hovers near 11-year lows on abundant supply, slowing demand

Oil prices steadied not far off their 11-year lows on Tuesday, under pressure from slowing global demand and abundant supplies, with Saudi Arabia signaling no change to its oil policies and Iran preparing to ramp up exports. International benchmark Brent and U…

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Oil hovers near 11-year lows on abundant supply, slowing demand