PES up against the clock to sell Philadelphia refinery in cash crunch

PES up against the clock to sell Philadelphia refinery in cash crunch
NEW YORK (Reuters) – Finding a buyer for Philadelphia Energy Solutions’ oil refinery has grown urgent as the bankrupt company’s funds dwindle and no signs emerge that it is winning a fight for insurance payouts after a June blaze at the plant, according to court documents and bankruptcy experts. FILE PHOTO: The Philadelphia Energy Solutions oil refinery is shown after... Read More

U.S. housing market mired in weakness; consumer sentiment ebbs

U.S. housing market mired in weakness; consumer sentiment ebbs
WASHINGTON (Reuters) – U.S. homebuilding fell for a third straight month in July amid a steep decline in the construction of multi-family housing units, but a jump in permits to a seven-month high offered hope for the struggling housing market. FILE PHOTO: Development and construction continues on a large scale housing project of over 600 homes in Oceanside, California, U.S.,... Read More

Stocks gain on stimulus hopes but still head for third losing week

Stocks gain on stimulus hopes but still head for third losing week
LONDON (Reuters) – World stocks rose on Friday as expectations grew of further stimulus by central banks, offsetting worries about slowing economic growth, which intensified this week as the U.S. yield curve inverted for the first time since 2007. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 15, 2019.... Read More

Stocks buoyed by stimulus hopes but still head for third losing week

Stocks buoyed by stimulus hopes but still head for third losing week
LONDON (Reuters) – World stocks rose on Friday as expectations grew of further stimulus by central banks, offsetting worries about slowing economic growth, which intensified this week as the U.S. yield curve inverted for the first time since 2007. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File... Read More

Asia shares take heart in stimulus speculation

Asia shares take heart in stimulus speculation
SYDNEY (Reuters) – Asian shares found some footing on Friday after a turbulent week as China hinted at more support for its economy, amid growing expectations of aggressive stimulus from all the major central banks. FILE PHOTO: An investor looks at an electronic board showing stock information at a brokerage house in Shanghai, China September 7, 2018. REUTERS/Aly Song Sentiment... Read More

Asia stocks take heart in stimulus speculation

Asia stocks take heart in stimulus speculation
SYDNEY (Reuters) – Asian shares found some footing on Friday after a turbulent week as China hinted at more support for its economy, amid growing expectations of aggressive stimulus from all the major central banks. FILE PHOTO: An investor looks at an electronic board showing stock information at a brokerage house in Shanghai, China September 7, 2018. REUTERS/Aly Song Sentiment... Read More

Asia stocks nurse losses, bonds hold huge gains

Asia stocks nurse losses, bonds hold huge gains
SYDNEY (Reuters) – Asian shares were heading for weekly losses on Friday as conflicting messages on the Sino-U.S. trade war only added to worries for the global economy, while talk of aggressive central bank stimulus drove bond yields to fresh lows. FILE PHOTO: An investor looks at an electronic board showing stock information at a brokerage house in Shanghai, China... Read More

Trump officials see no Chinese concessions for tariff delays amid market rout

Trump officials see no Chinese concessions for tariff delays amid market rout
WASHINGTON (Reuters) – China made no trade concessions after U.S. President Donald Trump postponed 10% tariffs on over $150 billion worth of Chinese imports, senior U.S. officials said on Wednesday, adding that talks aimed at resolving the trade fight would continue and markets should be patient. FILE PHOTO: U.S. Commerce Secretary Wilbur Ross speaks during a 17th Latin American Leadership... Read More

Trump sees Fed rather than trade war as source of market turmoil

Trump sees Fed rather than trade war as source of market turmoil
WASHINGTON (Reuters) – With global markets flashing concern about the fallout from the U.S.-China trade war and the near-term strength of the American economy, U.S. President Donald Trump on Wednesday targeted Federal Reserve policy as the culprit for recent market turmoil. FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan... Read More