Oil prices rise for a second day on China demand, U.S. stockpile drop

Oil prices rise for a second day on China demand, U.S. stockpile drop
SEOUL (Reuters) – Oil prices rose for a second day on Wednesday on signs of strong demand from refineries in China, the world’s second-largest crude user, amid tightening supply as producers curtail output and as oil inventories in the United States fell unexpectedly. FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. on... Read More

Asia relieved as China data point to recovery

Asia relieved as China data point to recovery
SYDNEY (Reuters) – Asian share markets swung higher on Wednesday as a raft of Chinese data easily beat expectations in a sign Beijing’s policy stimulus may finally be gaining traction in the world’s second-largest economy. FILE PHOTO: A man walks past an electronic stock quotation board outside a brokerage in Tokyo, Japan, November 13, 2018. REUTERS/Toru Hanai/File Photo Investors were... Read More

Brent nears $72 amid tightening supplies; surprise draw in U.S. crude stocks

Brent nears $72 amid tightening supplies; surprise draw in U.S. crude stocks
FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. on May 3, 2017. REUTERS/Ernest Scheyder/File Photo SEOUL (Reuters) – Oil prices rose on Wednesday, supported by concerns over tightening global supply due to U.S. sanctions and fighting in Libya, as well as an unexpected fall in U.S. crude inventories. International benchmark Brent crude... Read More

Asia holds breath for China data dump, NZ dollar slides

Asia holds breath for China data dump, NZ dollar slides
SYDNEY (Reuters) – Asian share markets got off to a guarded start on Wednesday as investors waited anxiously for a raft of Chinese data that might show policy stimulus is finally gaining traction in the world’s second-largest economy. FILE PHOTO: A man walks past an electronic stock quotation board outside a brokerage in Tokyo, Japan, November 13, 2018. REUTERS/Toru Hanai/File... Read More

IBM quarterly revenue misses on weak mainframe computer business

IBM quarterly revenue misses on weak mainframe computer business
(Reuters) – International Business Machines Corp reported a bigger-than-expected drop in first-quarter revenue on Tuesday, hurt by tapering demand for its mainframe computers and a stronger dollar, sending its shares down about 3 percent. FILE PHOTO: A man stands near an IBM logo at the Mobile World Congress in Barcelona, Spain, February 25, 2019. REUTERS/Sergio Perez/File Photo The technology giant’s... Read More

Minnesota student sues China’s JD.com CEO Liu with allegation of rape

Minnesota student sues China’s JD.com CEO Liu with allegation of rape
(Reuters) – A University of Minnesota student who said she was raped last August by Richard Liu, the chief executive officer of China’s e-commerce retailer JD.com Inc, filed a civil lawsuit against him in a Minneapolis court on Tuesday, nearly four months after prosecutors declined to press criminal charges. FILE PHOTO: Richard Liu, founder and chief executive officer of e-commerce... Read More

No-frills no longer: GM’s China brand Baojun attempts a major makeover

No-frills no longer: GM’s China brand Baojun attempts a major makeover
LIUZHOU, China/BEIJING (Reuters) – By many measures, General Motors’ China brand Baojun has been an exceptional success story, growing at breakneck speed by selling low-cost no-frills vehicles in smaller cities and rural areas. The new Baojun RM-C concept vehicle by SAIC-GM-Wuling Automobile, a joint venture of General Motors and its Chinese partners, is seen onstage during a global premiere in... Read More