Oil inches higher after U.S. crude stocks drawdown, economic worries weigh

Oil inches higher after U.S. crude stocks drawdown, economic worries weigh
SINGAPORE (Reuters) – Oil prices edged higher on Thursday after a drawdown in U.S. crude inventories, but lingering concerns over the global economy and a build-up in U.S. refined product stocks kept a lid on gains. FILE PHOTO: A pump jack operates at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford Brent crude futures... Read More

Exclusive: Daimler to make Mercedes Benz-branded heavy trucks in China: sources

Exclusive: Daimler to make Mercedes Benz-branded heavy trucks in China: sources
SHANGHAI (Reuters) – German auto maker Daimler AG (DAIGn.DE) plans to build Mercedes Benz-branded heavy trucks in China by revamping truck plants owned by its local joint venture, according to a document seen by Reuters and two sources familiar with the matter. FILE PHOTO: Visitors surround an Actros truck of German truck maker Mercedes-Benz at the IAA truck trade fair... Read More

U.S. judge confirms Citgo directors appointed by Venezuelan congress

U.S. judge confirms Citgo directors appointed by Venezuelan congress
FILE PHOTO: The logo of PDVSA’s U.S. unit Citgo Petroleum is seen at a gas station in Stowell, Texas, U.S., June 12, 2018. REUTERS/Jonathan Bachman/File Photo (Reuters) – The Citgo Petroleum board of directors appointed by Venezuela’s opposition congress chief was confirmed by a U.S. judge on Wednesday, ending a challenge by former directors loyal to Venezuelan President Nicolas Maduro.... Read More

Farmer’s threat prompts U.S. Agriculture Department to pull staff from crop tour

Farmer’s threat prompts U.S. Agriculture Department to pull staff from crop tour
CORALVILLE, Iowa/CHICAGO (Reuters) – The U.S. Agriculture Department said on Wednesday it had pulled all staff from an annual crop tour after an employee was threatened, and three sources said the threat of violence was made during a phone call from an angry farmer. A crop scout walks through a soybean field to check on crops during the Pro Farmer... Read More

Oil prices rise after U.S. crude stocks draw

Oil prices rise after U.S. crude stocks draw
SINGAPORE (Reuters) – Oil prices rose on Thursday following a drawdown in U.S. crude inventories, but gains in fuel inventories and persistent concerns over the global economy and future demand outlook capped gains. FILE PHOTO: A pump jack operates at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford Brent crude futures LCOc1 climbed 27... Read More

Japan says gaps remain with U.S. on trade after ‘very tough’ talks

Japan says gaps remain with U.S. on trade after ‘very tough’ talks
WASHINGTON (Reuters) – Japanese Economy Minister Toshimitsu Motegi said on Wednesday there were still gaps that needed to be filled before Tokyo and Washington could agree on a bilateral trade deal and that negotiations with his U.S. counterpart were “very tough.” FILE PHOTO: Japan’s Minister of Economic Revitalization Toshimitsu Motegi speaks during the signing agreement ceremony for the Trans-Pacific Partnership... Read More

Trump attacks Ford Motor for not backing fuel economy rollback

Trump attacks Ford Motor for not backing fuel economy rollback
WASHINGTON (Reuters) – U.S. President Donald Trump stepped up a series of attacks on automakers on Wednesday for not backing his administration’s plan to roll back Obama-era fuel efficiency rules, singling out Ford Motor Co (F.N) in particular for backing a deal with California for stricter fuel economy standards. FILE PHOTO: U.S. President Donald Trump answers questions from reporters as... Read More

Asia shares find support, still waiting on stimulus

Asia shares find support, still waiting on stimulus
SYDNEY (Reuters) – Asian shares edged ahead on Thursday after Wall Street got a boost from strong retail results, while bonds retreated as U.S. policy makers sounded conflicted on whether to cut interest rates as sharply as markets were wagering. A man is reflected on an electronic board showing a graph analyzing recent change of Nikkei stock index outside a... Read More

Nordstrom beats profit estimates as it clears inventory faster and sells more online

Nordstrom beats profit estimates as it clears inventory faster and sells more online
(Reuters) – Upscale U.S. retailer Nordstrom Inc (JWN.N) reported a better-than-expected quarterly profit on Wednesday as it said it had cut costs and cleared more inventory, sending its shares up 10% in extended trading. FILE PHOTO: The Nordstrom store is pictured in Broomfield, Colorado, February 23, 2017. REUTERS/Rick Wilking/File Photo The Seattle-based company, which sells everything from apparel and footwear... Read More