Oil is our gold and we aim to use all of it, ADNOC official says

Oil is our gold and we aim to use all of it, ADNOC official says
ABU DHABI (Reuters) – Abu Dhabi National Oil Co aims to exhaust its vast oil and gas reserves even as many consumers switch to cleaner sources of energy, a senior executive in the Gulf oil company said. FILE PHOTO: A general view of ADNOC headquarters in Abu Dhabi, United Arab Emirates May 29, 2019. REUTERS/Christopher Pike/File Photo The world’s transition... Read More

German auto lobby to pick utility manager Hildegard Mueller as president: report

German auto lobby to pick utility manager Hildegard Mueller as president: report
FILE PHOTO: Innogy SE board members Hans Buenting, COO Renewables, Hildegard Mueller, COO Grid and Infrastructure, CEO Uwe Tigges and Martin Herrmann, COO Retail, attend the company’s annual general shareholders meeting in Essen, Germany April 24, 2018. REUTERS/Wolfgang Rattay/File Photo FRANKFURT (Reuters) – The German carmakers lobby VDA is set to appoint conservative politician and former Innogy (IGY.DE) board member... Read More

Rising healthcare costs power U.S. consumer inflation

Rising healthcare costs power U.S. consumer inflation
WASHINGTON (Reuters) – U.S. consumer prices jumped by the most in seven months in October, which together with abating fears of a recession, support the Federal Reserve’s signal for no further interest rate cuts in the near term. FILE PHOTO: Intravenous bags hang above young cancer patients at Rady’s Children Hospital in San Diego, California, U.S., September 4, 2019. REUTERS/Mike... Read More

U.S. consumer prices increase more than expected in October

U.S. consumer prices increase more than expected in October
WASHINGTON, Reuters) – U.S. consumer prices rebounded more than expected in October and underlying inflation picked up, which together with abating trade tensions and fears of a recession, support the Federal Reserve’s signal for no further interest rate cuts in the near term. FILE PHOTO – A man in short sleeves carries shopping bags near Herald Square during unseasonably warm... Read More

European shares knocked off four-year highs by Trump speech

European shares knocked off four-year highs by Trump speech
LONDON (Reuters) – European shares fell on Wednesday from four-year highs after U.S. President Donald Trump threatened to “substantially” increase tariffs if China failed to agree a trade deal, and he also took a swipe at European Union trade policies. FILE PHOTO: Traders are pictured at their desks in front of the DAX board at the Frankfurt stock exchange April... Read More

European shares knocked off four-year highs on Trump speech

European shares knocked off four-year highs on Trump speech
LONDON (Reuters) – European shares fell on Wednesday from four-year highs after U.S. President Donald Trump threatened to “substantially” increase tariffs if China failed to agree a trade deal and also took a swipe at European Union trade policies. FILE PHOTO: Traders are pictured at their desks in front of the DAX board at the Frankfurt stock exchange April 15,... Read More

Asian shares slide on trade disappointment, HK unrest

Asian shares slide on trade disappointment, HK unrest
TOKYO (Reuters) – Asian stocks and Wall Street futures fell on Wednesday, as growing worries that U.S.-China trade talks are stalling and concern about intensifying unrest in Hong Kong hurt demand for risky assets. FILE PHOTO: A man walks past an electric screen showing Japan’s Nikkei and Shanghai Stock Exchange markets’ indices outside a brokerage in Tokyo, Japan, July 1,... Read More

Chinese national pleads guilty in U.S. court to stealing Phillips 66 trade secrets

Chinese national pleads guilty in U.S. court to stealing Phillips 66 trade secrets
WASHINGTON (Reuters) – A Chinese national pleaded guilty on Tuesday to stealing trade secrets from U.S. petroleum company Phillips 66 (PSX.N), where he worked on the research and development of next generation battery technologies, the U.S. Justice Department said. Hongjin Tan, 36, stole information regarding the manufacture of a “research and development downstream energy market product” that is worth more... Read More