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.
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Japan's three top carmakers to expand Takata air bag recalls by millions
Japan's three biggest carmakers said on Wednesday they would expand a huge global recall triggered by potentially fatal air bags made by Takata Corp, saying they were taking back millions of vehicles worldwide for investigation.
Oil glut worsens as OPEC market-share battle just beginning: IEA
A global oil glut is building as OPEC kingpin Saudi Arabia pumps near record highs in an attempt to win a market-share battle against stubbornly resistant U.S. shale production, the International Energy Agency (IEA) said on Wednesday.
Oil up 3 percent in largest gain in three weeks; volatility threatens
Oil rose 3 percent on Tuesday, the most in three weeks, as a weak dollar lifted commodities denominated in the currency and OPEC raised slightly its forecast for world oil demand growth.
Boeing says efficiency supports strong outlook, despite hurdles
Citing steady demand from airlines, Boeing Co (BA.N) said on Tuesday it is capable of raising 737 jetliner output by 43 percent to 60 a month, as it gave a rosy outlook despite concerns about orders, overall production and defense spending.
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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 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.
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.
China's smartphone market has reached saturation, according to a new study by industry analyst IDC that carries potentially significant implications for the global handset industry led by giants like Apple Inc (AAPL.O) and Samsung Electronics Co Ltd (005930.KS).
German Finance Minister Wolfgang Schaeuble and his Greek counterpart Yanis Varoufakis will meet in Brussels on Monday ahead of a Eurogroup meeting of euro zone finance ministers, a spokesman for the German finance ministry said.
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.
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.
