China overtook the United States as the world's top importer of crude oil for the first time in April, and its purchases are expected to remain strong despite a slowing economy, with far-reaching consequences for global oil and commodities markets.
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Castleton joins oil trade titans with Morgan Stanley deal
Castleton Commodities International will buy Morgan Stanley's (MS.N) physical oil business, vaulting the Connecticut-based merchant into the big leagues of global crude and fuel traders.
Uber tests cash payments for cabs in India
Uber is testing cash payments in India as the online taxi-hailing company seeks a stronger foothold in a country where many fewer people have credit cards than internet connections.
Oil slips lower amid debate on U.S. shale oil recovery
Oil edged lower on Monday on signs that a multi-week rally was encouraging a rejuvenation in already bloated U.S. shale supplies, even as the government expected less output in June from the fastest-growing fields.
Fed said to have debt ceiling plan involving market interventions
The Federal Reserve drew together extensive plans for handling a U.S. debt default that included scheduling deferred payments and lending cash to investors, according to a top lawmaker who cited Fed documents.
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Officials of the six-nation Gulf Cooperation Council agreed at the weekend to keep working toward the introduction of a value-added tax around the region, in a sign that low oil prices may be strengthening support for the idea.
Fiat Chrysler Chief Executive Sergio Marchionne said on Saturday that he had visited the heads of Tesla Motors Inc and Apple Inc during a recent trip to California.
When the Swiss central bank abandoned its cap on the franc back in January, corporate Switzerland warned of an economic "tsunami" that would hit exports, hammer jobs and plunge the Alpine nation into a deep recession.
Japan's economy was expected to post a second straight quarter of moderate growth in January-March, led by a pickup in exports and business investment, a Reuters poll found, pointing if realized to a steady recovery from recession after last year's sales tax hike.
It sounded so promising. Anyone, anywhere would be able to strap on a headset in their living room and be able to experience events anywhere in the world - or outside of it - as if they were really there.
China will increase its healthcare subsidies by 19 percent this year as part of efforts to deepen social reforms and strengthen safety nets, the government said on Saturday.
With optimism building that the United States is already recovering smartly from another horrible start to the year, focus will shift this week to reports that may show the euro zone is finally shaking off half a decade of torpor.
China's central bank cut its benchmark interest rate on Sunday for the third time since November, as economic growth cools to levels not seen since the global financial crisis.
A top EU official urged Athens and its creditors to make progress in their talks on a cash-for-reform deal on Monday, warning there was no "Plan B" in the event of a Greek default.
