China flexes oil refining muscle, upping pain for Asian rivals

China flexes oil refining muscle, upping pain for Asian rivals
SINGAPORE/BEIJING (Reuters) – China is set to further expand its massive oil refining capacity this year, offering support to global oil prices, and U.S. producers in particular, but its plans spell more gloom for Asia’s hard-hit refining industry. FILE PHOTO: China National Petroleum Corporation (CNPC)’s Dalian Petrochemical Corp refinery is seen in Dalian, Liaoning province, China January 22, 2019. REUTERS/Stringer... Read More

Global stocks rally in big rebound, safe-havens lose luster

Global stocks rally in big rebound, safe-havens lose luster
NEW YORK (Reuters) – Global equity markets rebounded in a broad rally on Tuesday and some safe-haven assets eased as investors took a less pessimistic view of the potential economic fallout from China’s coronavirus outbreak. Gold fell and the Japanese yen dipped against the dollar, but risk aversion in currency markets persisted, with the Australian dollar leading losers and the... Read More

Lordstown Motors pursuing $200 million U.S. retooling loan, will show EV truck at Detroit show: CEO

Lordstown Motors pursuing $200 million U.S. retooling loan, will show EV truck at Detroit show: CEO
WASHINGTON (Reuters) – Electric pickup truck start-up Lordstown Motors is pursuing a $200 million loan from a U.S. Energy Department program to retool a former General Motors (GM.N) factory in northeast Ohio, Chief Executive Steve Burns told Reuters. FILE PHOTO: A sign welcomes visitors to the General Motors Lordstown Complex, assembly plant in Warren, Ohio, U.S., November 26, 2018. REUTERS/Alan... Read More

Global stocks rebound in broad rally, safe-havens lose luster

Global stocks rebound in broad rally, safe-havens lose luster
NEW YORK (Reuters) – Global equity markets rebounded in a broad rally on Tuesday and some safe-haven assets lost a bit of their appeal as investors took a less pessimistic view of the potential economic fallout from China’s coronavirus outbreak. Gold fell and the Japanese yen eased against the dollar, but risk aversion in currency markets persisted, with the Australian... Read More

High expectations for Tesla, and a long way to go to match rivals’ steady profit

High expectations for Tesla, and a long way to go to match rivals’ steady profit
(Reuters) – Buckle up. Tesla’s quarterly report could be another wild ride for investors. FILE PHOTO: Tesla super chargers are shown in Mojave, California, U.S. July 10, 2019. REUTERS/Mike Blake The electric carmaker’s stock has more than doubled since Tesla’s previous quarterly report on October 23, when it posted a surprise profit that was viewed as a milestone for the... Read More

Canada, isolated over Huawei 5G, is studying British decision

Canada, isolated over Huawei 5G, is studying British decision
OTTAWA (Reuters) – Canada, the only member of an elite intelligence-sharing network yet to decide whether to allow the use of Huawei Technologies Co Ltd 5G technology, on Tuesday said it was studying Britain’s decision not to ban the Chinese telecoms giant from the West’s next-generation communications. FILE PHOTO: An attendee wears a badge strip with the logo of Huawei... Read More

Oil edges up as stock markets rebound after virus-related selloff

Oil edges up as stock markets rebound after virus-related selloff
NEW YORK (Reuters) – Oil futures edged up on Tuesday after falling for five days, gaining support from a rebound in Wall Street stocks and talk that OPEC and its allies might tighten the market amid fears the coronavirus could weigh on oil demand. FILE PHOTO: FILE PHOTO: Grandpuits oil refinery southeast of Paris, France, February 29, 2016. REUTERS/Christian Hartmann/File... Read More

Huawei snatched market share from Apple, local rivals in China in 2019

Huawei snatched market share from Apple, local rivals in China in 2019
SHANGHAI (Reuters) – Top Chinese smartphone maker Huawei Technologies Co Ltd thrived in 2019 at the expense of smaller Chinese rivals and Apple (AAPL.O) even as the smartphone market shrank further and consumers favored phones with 5G technology, data shows. FILE PHOTO: A Huawei company logo at Shenzhen International Airport in Shenzhen, Guangdong province, China, July 22, 2019. REUTERS/Aly Song/File... Read More

Crude prices bounce up with U.S. stock markets after virus-related selloff

Crude prices bounce up with U.S. stock markets after virus-related selloff
NEW YORK (Reuters) – Oil futures edged up on Tuesday after falling for five days, bouncing up with Wall Street, and crude also drew support from talk that OPEC and its allies might tighten the market amid fears the coronavirus could weigh on oil demand. FILE PHOTO: FILE PHOTO: Grandpuits oil refinery southeast of Paris, France, February 29, 2016. REUTERS/Christian... Read More