Business

Oil price jump pulls stocks higher

Oil price jump pulls stocks higher

Published 11/05/2017

People are seen behind an electronic board showing stock prices at the Tokyo Stock Exchange (TSE) in Tokyo, Japan, January 4, 2017. REUTERS/Kim Kyung-Hoon

Asian stocks rose on Thursday, getting a lift from a record high close on MSCI's global stocks benchmark as strong gains in oil prices buoyed energy shares.

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BT to cut 4,000 jobs in restructuring after `challenging year`

BT to cut 4,000 jobs in restructuring after `challenging year`

Published 11/05/2017

The company logo for BT is seen on the BT Tower in London, Britain, January 24, 2017. REUTERS/Toby Melville -

BT (BT.L) said on Thursday it would cut 4,000 jobs in its Global Services unit that serves multinationals and scale back its dividend growth ambitions in a drive to recover from an accounting scandal and a profit warning.

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Exclusive: Aldi raises stakes in U.S. price war with Wal-Mart

Exclusive: Aldi raises stakes in U.S. price war with Wal-Mart

Published 11/05/2017

A lady shops at Aldi, a retail grocery store chain in Wheaton, Illinois, U.S., April 13, 2017. REUTERS/Nandita Bose

German grocery chain Aldi Inc is trying to beat the world's biggest retailer at its own game: low prices.

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Bank of England`s Carney likely to stress virtue of patience

Bank of England`s Carney likely to stress virtue of patience

Published 11/05/2017

Bank of England Governor Mark Carney leaves after speaking at 2017 Institute of International Finance (IIF) policy summit in Washington, U.S., April 20, 2017. REUTERS/Yuri Gripas

Faced with Brexit unknowns, a national election and mixed economic data, Bank of England Governor Mark Carney and his colleagues will probably say on Thursday they want more clarity before paving the way for the first interest rate hike in nearly a decade.

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Ambition to meet reality as China gathers world for Silk Road summit

Ambition to meet reality as China gathers world for Silk Road summit

Published 11/05/2017

A map illustrating China's silk road economic belt and the 21st century maritime silk road, or the so-called ''One Belt, One Road'' megaproject, is displayed at the Asian Financial Forum in Hong Kong, China January 18, 2016. REUTERS/Bobby Yip

When leaders of 28 nations gather in Beijing next week for a summit to map out China's ambitious new Silk Road project, one question is likely to be on attendees' minds - what exactly is the Belt and Road Initiative?

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Kiwi slides as NZ central bank retains inflation outlook, neutral rate bias

Kiwi slides as NZ central bank retains inflation outlook, neutral rate bias

Published 11/05/2017

Two people walk towards the entrance of the Reserve Bank of New Zealand located in the New Zealand capital city of Wellington, March 22, 2016. REUTERS/Rebecca Howard/File Photo

The Reserve Bank of New Zealand (RBNZ) defied market expectations it would adopt a more hawkish tone at its policy meeting on Thursday, retaining instead its neutral stance and sending the country's currency to an 11-month low.

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Indian retail inflation seen easing in April on lower food prices

Indian retail inflation seen easing in April on lower food prices

Published 11/05/2017

FILE PHOTO: A cashier displays the new 2000 Indian rupee banknotes inside a bank in Jammu, November 15, 2016. REUTERS/Mukesh Gupta/File photo

India's inflation likely cooled in April due to lower food prices, but the pullback may not give the Reserve Bank of India enough leeway to ease monetary policy anytime soon, a Reuters poll found.

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AIG plans to name Brian Duperreault as new CEO: WSJ

AIG plans to name Brian Duperreault as new CEO: WSJ

Published 11/05/2017

People exit the AIG building in New York's financial district March 19, 2015. REUTERS/Brendan McDermid

American International Group (AIG.N) is planning to name Brian Duperreault as its new chief executive, the Wall Street Journal reported, citing sources.

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Boeing suspends 737 MAX flights due to engine issue

Boeing suspends 737 MAX flights due to engine issue

Published 11/05/2017

A new Boeing 737MAX sits parked under a canopy at Boeing Field after coming off the production line in Seattle, Washington, May 9, 2017. Picture taken May 9, 2017. REUTERS/Jason Redmond

Boeing Co (BA.N) said on Wednesday it had temporarily halted test flights of its new 737 MAX aircraft due to an issue with the engine, which is jointly made by General Electric Co (GE.N) and Safran SA (SAF.PA) of France.

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China concerned by inclusion on U.S. intellectual property watch list

Published 11/05/2017

China is seriously concerned by the United States keeping it on an intellectual property watch list, the commerce ministry said on Thursday.

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