Oil prices fell towards $58 a barrel on Wednesday as industry data showed a larger-than-expected weekly increase in U.S. stockpiles and as Saudi Arabia reported record output in March.
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Dollar steps back, outlook still solid on diverging monetary policy paths
The dollar took a step back on Wednesday but retained a bulk of its overnight gains after currency bulls scooped up the greenback following the tumble induced by weak U.S. non-farm payrolls late last week.
Mercedes, Nissan expand cooperation to build pickup
Daimler AG on Tuesday said it would expand its cooperation with partner Nissan Motor Co Ltd to develop a mid-sized pickup truck for Mercedes-Benz as the German premium automaker seeks to narrow its sales gap with rival BMW.
Boeing beats Airbus in first quarter net orders, deliveries
U.S. planemaker Boeing (BA.N) beat European rival Airbus (AIR.PA) in net new orders and deliveries in the first quarter, according to figures released on Tuesday.
France raises Renault stake to ensure long-term control
The French government has been buying shares in French carmaker Renault SA (RENA.PA) to increase its stake to up to 19.73 percent with the aim of blocking a resolution at the next annual general meeting that could reduce its control over the company.
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Global stocks remained upbeat on Wednesday as a $70 billion mega-deal in the European oil and gas sector stoked the merger and acquisition fever that has gripped investors this week.
Royal Dutch Shell (RDSa.L) agreed to buy smaller rival BG Group (BG.L) for $70 billion in the first oil super-merger in more than a decade to close the gap with the world's largest oil firm U.S. ExxonMobil (XOM.N).
Euro zone sentiment improved for the sixth straight month in April as investors took heart from the European Central Bank's bond-buying program, raising the current situation component of the Sentix index to its highest in almost four years.
Price discounting drove growth in all of the euro zone's major economies in March, helping business activity increase at its fastest rate for nearly a year, a survey showed on Tuesday.
FedEx Corp (FDX.N) is seeking to buy Dutch package delivery firm TNT Express for an agreed 4.4 billion euros ($4.8 billion), aiming to succeed where United Parcel Service (UPS.N) failed two years ago when its bid was blocked by competition regulators.
The rising value of the dollar is hurting American businesses and could ultimately result in a slowdown in future U.S. growth, BlackRock (BLK.N) chief executive officer Larry Fink warned in a letter scheduled to go out to shareholders next week.
The Australian dollar gained more than 1 percent against the U.S. dollar, on track for its biggest daily rise in more than two weeks, after the Reserve Bank of Australia surprised many investors by refraining from cutting interest rates.
Brent crude prices fell almost $1 a barrel on Tuesday, with an Iranian delegation in Beijing this week to push for more oil sales.
Global stocks rose on Tuesday, as many European bourses re-opening after the Easter break took on the positive tone set by U.S. markets overnight, with sentiment boosted by a potential trans-Atlantic acquisition.
