Exclusive: In Warsaw, Trump to promote U.S. natural gas exports -Gary Cohn

By Roberta Rampton

WASHINGTON - U.S. President Donald Trump plans to promote U.S. natural gas exports at a meeting next week in Warsaw with a dozen leaders from central and eastern Europe, a region heavily reliant on Russian supplies, his top economic adviser told Reuters.

On his way to the G20 summit in Germany, Trump is slated to speak in Poland - whi

Analysis - Oil pipeline firms' discounts rile clients, roil markets

By Catherine Ngai

NEW YORK  - U.S. pipeline operators are selling their underused space at steep discounts to keep crude flowing - angering shippers and distorting an already opaque market for oil trading.

Pipeline firms such as Plains All American and TransCanada Corp move about 10 million barrels of crude around the United States every day.

U.S. plaintiffs` lawyers warn of automaker role in Takata bankruptcy

By Tom Hals

WILMINGTON, Del.- Lawyers for people injured by exploding Takata Corp <7312.T> air bags told a U.S. bankruptcy court judge on Tuesday that the company's restructuring plan is being skewed to benefit automakers over victims.

TK Holdings Inc, the U.S. business of Takata, filed for Chapter 11 bankruptcy on Sunday due to tens of billions of

Weaker dollar and stock market jitters drive gold higher

By Peter Hobson

LONDON  - Gold prices rose on Wednesday as the dollar weakened and stock markets fell after a delayed U.S. healthcare bill increased doubts about President Donald Trump's ability to pass economic stimulus measures.

The dollar sank to its lowest since November as Japan's yen strengthened and the euro hit a one-year high when Europ

28/06/2017 10:31:33 AM | Posted in Commodity Top News read full news
Oil stays below $47 as U.S. inventory report revives glut worries

By Alex Lawler

LONDON - Oil edged lower towards $47 a barrel on Wednesday after an industry report said U.S. inventories increased, reviving concerns that a three-year supply glut is far from over.

The American Petroleum Institute (API) said on Tuesday U.S. crude inventories rose by 851,000 barrels last week, while analysts expected a decline. Inventori

28/06/2017 10:28:55 AM | Posted in Commodity Top News read full news
IMF cuts U.S. growth forecasts, cites Trump fiscal plan uncertainty

WASHINGTON  - The International Monetary Fund on Tuesday cut its growth forecasts for the U.S. economy to 2.1 percent for both 2017 and 2018, dropping its assumption that President Donald Trump's tax cut and fiscal spending plans would boost growth.

The IMF, after a review of U.S. economic policy, said the Trump administration was unlikely to achieve its goal

India, US to review trade relations to increase market access

The United States and India plan to undertake a comprehensive review of trade relations to expedite regulatory processes and increase market access in areas such as agriculture, information technology, and manufactured goods and services, according to a joint statement.

The joint statement issued after talks between Prime Minister Narendra Modi and US President Donald Trump said that

Indo-US commitment to improve IT market big positive: ASSOCHAM

ASSOCHAM today welcomed the India-US joint statement following the meeting of Prime Minister Narendra Modi with President Donald Trump, stating the mutual commitment to increasing market access in Information Technology and other sectors is a big positive for the USD 150 billion Indian software and services industry.

Among other positives, the ASSOCHAM took special note of the text in

Interview: Vitol's Taylor sees Brent oil trading at $40-$55 as U.S. output rises

By Julia Payne and Dmitry Zhdannikov

LONDON  - Ian Taylor, head of the world's largest independent oil trader Vitol, says Brent crude prices will stay in a range of $40-$55 a barrel for the next few quarters as higher U.S. production slows a rebalancing of the market.

"Everybody was positioned for a market rebalancing and a stocks draw to happe

At last minute, Western Digital resubmits bid for Toshiba chip unit

By Makiko Yamazaki

TOKYO  - Western Digital Corp and U.S. private equity firm KKR & Co LP have resubmitted an offer for Toshiba Corp's flash memory chip unit, in an eleventh hour effort to prevent the conglomerate signing a deal with its preferred bidder.

Western Digital, which jointly runs Toshiba's main semiconductor plant, has been at loggerheads with its

CII calls for reforms in US laws, procedures

Industry body CII called for reforms in the "cumbersome" US laws and procedures to facilitate Indian companies' collaboration with their American counterparts, especially in the defence sector, reported PTI. "The cumbersome procedures of the US government are such that Indian companies are unable to meet the regulations or get the necessary approvals to work with US companies

Amtrak names former Delta executive as next CEO

By David Shepardson

WASHINGTON - Amtrak on Monday named a former Delta Air Lines  chief to lead the U.S. passenger rail carrier as it embarks on a major renovation of its busiest U.S. hub following years of disruptions and delays along the Northeast Corridor.

Richard Anderson, who spearheaded Delta's growth into the world's largest airline by ma

Trump urges Modi to fix deficit, but stresses strong ties

By Steve Holland and David Brunnstrom

WASHINGTON- U.S. President Donald Trump urged Indian Prime Minister Narendra Modi to do more to relax Indian trade barriers on Monday during talks in which both leaders took great pains to stress the importance of a strong U.S.-Indian relationship.

At a closely watched first meeting between the two, Trump and Modi appear

Alibaba-backed Best Inc bets on China logistics boom with U.S. listing

By Elzio Barreto

HONG KONG  - Best Inc, a Chinese logistics company backed by Alibaba Group, said it aims to raise up to $750 million from an initial public offering in the United States, betting an e-commerce boom in China will spur demand for its package delivery services and supply chain technology.

The company founded by Johnny Chou, a former Greate

Akzo Nobel chemicals CEO craves independence and capital

By Toby Sterling

AMSTERDAM  - Akzo Nobel's specialised chemicals division would expand quickly and profitably if it gets an injection of capital after being sold or listed, its chief executive Thierry Vanlancker told Reuters.

As part of its successful defence against a takeover by U.S. rival PPG Industries, Akzo said it would create value for shareh

Global Markets - Italy bank deal lifts Europe shares, dollar on back foot

By Nigel Stephenson

LONDON - Shares rose in Europe on Monday, with Italian banks gaining after a deal to wind up two failed regional lenders, while the dollar and U.S. bond yields held close to recent lows as subdued inflation raised questions over the outlook for monetary policy.

The-pan-European STOXX 600 share index rose 0.6 percent, led higher by banks,

Gold inches down on firmer dollar ahead of Yellen speech

BENGALURU  - Gold edged down on Tuesday on a firmer dollar ahead of a speech by Federal Reserve Chair Janet Yellen, which may give clues on the pace of possible interest rate hikes by the U.S. central bank.


* Spot gold had fallen 0.2 percent to $1,241.11 per ounce by 0046 GMT. It hit a near six-week low of $1,236.46 in the

26/06/2017 11:22:31 AM | Posted in Commodity Top News read full news
Clogged oil arteries slow U.S. shale rush to record output

By David Gaffen

GUERNSEY, WYOMING - A gallon of gasoline that allows a driver on the U.S. East Coast to travel about 25 miles has already navigated thousands of miles from an oil field to one of the world's largest fuel markets.

If its last stop is one of the region's struggling refineries - an increasingly unlikely prospect - the crude used to produ

26/06/2017 11:18:18 AM | Posted in Commodity Top News read full news
Fed's Williams sees gradual rate hikes as key to further U.S. growth

SYDNEY  - With the U.S. economy at full employment and inflation set to hit the Federal Reserve's 2-percent target next year, the U.S. central bank needs to keep raising rates gradually to keep the economy on an even keel, a Fed policymaker said Monday.

"If we delay too long, the economy will eventually overheat, causing inflation or some other problem,&

Trump, Modi seek rapport despite friction on trade, immigration

By Steve Holland and David Brunnstrom

WASHINGTON  - U.S. President Donald Trump and Indian Prime Minister Narendra Modi will hold their first face-to-face meeting in Washington on Monday, seeking to boost U.S.-Indian relations despite differences over trade, the Paris climate accord and immigration.

Their White House session promises less pomp than Modi

Oil closes higher; growing U.S. supply limits gains

By Julia Simon

NEW YORK - Oil prices settled more than half a percent higher on Monday as some traders found bargains after last week's seven-month lows, but rising crude supply in the United States and other countries limited gains.

Brent crude futures settled up 29 cents, or 0.6 percent, at $45.83 a barrel. The benchmark was still set to end the first

GST could be studied in US B-schools: Narendra modi

The landmark Goods and Services Tax (GST) that will come into effect in India from July 1 could be a subject of study in US business schools, Prime Minister Narendra Modi said on Sunday

"The implementation of the landmark initiative of GST could be a subject of studies in US business schools," Modi said while addressing American CEOs at a meeting here, according to a tweet b

Japanese airbag maker Takata files for bankruptcy, gets U.S. sponsor

By Naomi Tajitsu

TOKYO - Japan's Takata Corp, the firm at the centre of the auto industry's biggest ever product recall, filed for bankruptcy protection in the United States and Japan, and said it would be bought for $1.6 billion by U.S.-based Key Safety Systems.

In the biggest bankruptcy of a Japanese manufacturer, Takata faces tens of billions of d

Asia stocks edge up on optimism over global growth, dollar soft

By Hideyuki Sano

TOKYO - Asian shares edged up on Monday on optimism for global growth, while the dollar was on the defensive as a subdued U.S. inflation outlook capped U.S. bond yields and raised questions about the Federal Reserve's plans to tighten policy.

European shares are seen opening little changed. Spread-betters expect Britain's FTSE to ope

Investors flock to Asian bonds as U.S. yields slide

By Nichola Saminather

SINGAPORE  - Asia bond demand is running at its highest level in eight months and looks set to stay firm this year, boosted by the region's higher returns at a time when stubbornly low inflation in the United States is keeping a lid on Treasury yields.

Investors poured $9 billion into Asian government and corporate bonds in May