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ANZ Economy GMT OPEC Saudi Arabia Top News 

Oil edges up, but still set for worst first-half performance in 20 years

June 23, 2017 By Henning Gloystein SINGAPORE (Reuters) – Oil edged up on Friday, recovering some of the steep falls earlier in the week, but crude is still set for the worst first-half decline in two decades despite ongoing production cuts. Brent crude futures were at $45.39 per barrel at 0501 GMT, up 17 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 17 cents, or 0.4 percent, at $42.91 per barrel. Oil prices have fallen about 20 percent this year despite…

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Asia bank Business GMT Wall Street 

Asia shares encouraged by Wall St. record, await Fed outlook

June 14, 2017 By Wayne Cole SYDNEY (Reuters) – Asian shares crept higher on Wednesday after Wall Street notched another all-time high, while the dollar and bonds awaited clarity on the Federal Reserve’s future path for U.S. policy after a likely rate rise later in the day. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.2 percent, while Japan’s Nikkei put on 0.5 percent. Markets took their lead from the Dow , which rose 0.44 percent, while the S&P 500 gained 0.45 percent and the Nasdaq 0.73 percent.[.N] The…

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2016 election Business GMT poll UK 

Sterling stunned by UK election shock, stocks await more results

June 9, 2017 By Wayne Cole SYDNEY (Reuters) – Sterling sank in Asia on Friday after British elections seemed to have left no single party with a clear claim to power, sideswiping investors who had already weathered major risk events in the United States and Europe. The pound dived over two U.S. cents in a matter of seconds, though most stocks and bond markets were relatively unscathed awaiting further results. An exit poll showed Prime Minister Theresa May’s Conservative Party could fail to win a parliamentary majority, a shock result…

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Business Energy Information Administration GMT increase 

Oil edges off one-month lows, concern persists over supply

June 8, 2017 By Amanda Cooper LONDON (Reuters) – Oil prices pared losses on Thursday, having hit one-month lows earlier in the day after unexpected surge in U.S. inventories and the return of more Nigerian crude aggravated investor concerns about an already oversupplied market. The oil price has slipped below $50 a barrel despite a pledge by the world’s largest exporters to extend an existing cut in production of 1.8 million barrels per day (bpd) into next year in an effort to reduce bulging global inventories. Adding to concerns about…

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Coinbase suffers outages amid bitcoin surge

May 25, 2017 (Reuters) – Coinbase said on Thursday it suffered outages this week as the bitcoin exchange saw “unprecedented traffic and trading,” with the digital currency hitting record levels. Bitcoin fell as much as 6.5 percent to $2,263.72 at around 1730 GMT on Thursday, but rebounded shortly after to hit a fresh all-time high of $2,760.10. Bitcoin hit a record on the BitStamp platform on Wednesday, driven by an uptick in demand for crypto-assets, with the creation of new tokens to raise funding for start-ups using blockchain, the underlying…

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Philippine economy grows at slowest pace in over a year in first quarter

May 18, 2017 By Neil Jerome Morales MANILA (Reuters) – The Philippine economy grew at its slowest pace in more than a year in the first quarter, but resilient exports and strong consumer spending are likely to keep momentum buoyant this year. The pace was the weakest for the Southeast Asian economy since the last quarter of 2015, but the government said the economy was “broadly in line” to grow within its target of 6.5-7.5 percent for the year. Gross domestic product grew 6.4 percent in January-March from a year…

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Oil futures supported by weaker dollar, but bloated supply still weighs

March 28, 2017 By Henning Gloystein SINGAPORE (Reuters) – Oil prices rose on Tuesday, supported by a weak dollar, but crude continued to be weighed down by surging U.S. production and uncertainty over whether an OPEC-led supply cut is big enough to rebalance the market. Prices for front-month Brent crude futures , the international benchmark for oil, had gained 20 cents from their last close to $50.95 per barrel by 0320 GMT. In the United States, West Texas Intermediate (WTI) crude futures were up 24 cents at $47.97 a barrel….

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Peugeot poised to buy GM’s Opel, creating European car giant

March 4, 2017 By Laurence Frost, Gilles Guillaume and Pamela Barbaglia PARIS/LONDON (Reuters) – France’s PSA Group is set to announce a deal to buy Opel from General Motors on Monday after striking an agreement with the U.S. carmaker and winning the blessing of its board for the acquisition. The maker of Peugeot, Citroen and DS cars said on Saturday it would hold an early Monday press conference with GM, at which the transaction is expected to be presented after Reuters reported that a deal had been struck between the…

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Oil firms as Trump offers little on plans to boost U.S. output

March 1, 2017 By Naveen Thukral SINGAPORE (Reuters) – Crude oil prices rose on Wednesday as the dollar trimmed gains and a speech by U.S. President Donald Trump offered little on plans by his administration to boost U.S. oil production. The market is being underpinned by OPEC’s production cuts while rising U.S. shale oil output is keeping a lid on prices. West Texas Intermediate crude futures gained 11 cents, or 0.2 percent, to $54.12 a barrel by 0415 GMT and Brent crude added 15 cents, or 0.3 percent, to $56.66….

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