US Business

Landslide election victory thrusts Ukrainian comedian into limelight

21/04 In a popular Ukrainian TV series, comedian Volodymyr Zelenskiy played a president who is scrupulously honest and outwits crooked lawmakers and shadowy businessmen who try to stand in his way.. . .  Full story

U.S. carves out exceptions for foreigners dealing with IRGC

21/04 The United States has largely carved out exceptions so that foreign governments, firms and NGOs do not automatically face U.S. sanctions for dealing with Iran's Revolutionary Guards after the group's designation by Washington as. . .  Full story

Strong stock and bond markets at odds over global growth

21/04 It looks like something has to give in global markets.. . .  Full story

Financial market 'pause party' makes Fed rate cut less likely

21/04 Risk-taking has been the rage since the Federal Reserve quit hiking interest rates at the end of last year. U.S. stocks are back near record highs and investors are stockpiling the lowest-grade corporate bonds with. . .  Full story

In nod to debt concerns, China Belt and Road summit to urge sustainable financing

21/04 World leaders meeting in Beijing this week for a summit on China's Belt and Road initiative will agree to project financing that respects global debt goals and promotes green growth, according to a draft communique. . .  Full story

-Union Pacific operational overhaul gains traction, shares rise

20/04 U.S. railroad operator Union Pacific Corp on Thursday reported a better-than-expected quarterly profit as price increases and cost controls offset the impact of severe winter weather and record flooding that damaged rails in the Midwest.. . .  Full story

Tesla to shrink board to seven directors from 11

20/04 Tesla Inc said on Friday that four members of its eleven-member board would be leaving over the next two years, as the electric car company looks to streamline its board.. . .  Full story

Qatar's sovereign fund, Crown Acquisitions named as investors in $5.6 bln New York deal

19/04 Qatar Investment Authority (QIA) and private realty firm Crown Acquisitions said on Friday they were the unnamed investors in a deal with Vornado Realty Trust valued at $5.56 billion that involves a portfolio of prime. . .  Full story

U.S. producers harmed by wooden cabinet imports from China - trade panel

19/04 The U.S. International Trade Commission said on Friday it had determined that imports of wooden cabinets from China are harming American producers, keeping alive a trade investigation that could lead to tariffs on the products.. . .  Full story

U.S. homebuilding near two-year low; permits extend decline

19/04 U.S. homebuilding dropped to a near two-year low in March, pulled down by persistent weakness in the single-family unit segment, suggesting the housing market continued to struggle despite falling mortgage rates.. . .  Full story

Nissan slams output cut report as 'completely incorrect'

19/04 Nissan Motor Co Ltd said on Friday a report by the Nikkei that it would slash production this year was "completely incorrect" and that it had lodged a complaint with the business daily, in. . .  Full story

Mir card payment system looks beyond Russia

19/04 After Western sanctions gutted Russia's financial system five years ago, a new bank card began appearing in the wallets of many Russians.. . .  Full story

Total's output close to 2.95 million barrels of oil equivalent/day

19/04 French oil giant Total is producing close to 2.95 million barrels of oil equivalent per day, its chief executive Patrick Pouyanne said on Friday, slightly higher than its daily output last year.. . .  Full story

In the city of Gouda, Dutch cheesemakers worry about U.S. tariffs

19/04 Surrounded by 15-kg (33 lb) wheels of cheese ready to be carted away in horse-drawn carriages, a dairy farmer in the Dutch city of Gouda faces off against a cheese trader wearing traditional wooden. . .  Full story

Oil market likely to be well balanced in 2019, says Saudi energy adviser

19/04 Ibrahim al-Muhanna, an adviser to the Saudi energy minister, said on Friday he expected the oil market to be "well balanced" this year.. . .  Full story

China says Silk Road not geopolitical tool, understands concerns

19/04 China's Belt and Road project is not a "geopolitical tool" or a debt crisis for participating nations, but Beijing welcomes constructive suggestions on how to address concerns over the initiative, the government's top diplomat said. . .  Full story

Uber's self-driving unit valued at $7.25 bln in new investment

19/04 Uber's autonomous vehicle unit has raised $1 billion from a consortium of investors including SoftBank Group Corp, giving the company a much-needed funding boost for its pricey self-driving ambitions on the eve of its public. . .  Full story

COLUMN-U.S. economy hits soft patch, putting Fed on alert: Kemp

19/04 The U.S. economy hit a soft patch during the first three months of the year with manufacturing output up only slightly compared with the same period a year earlier and freight movements mostly down.. . .  Full story

U.S. wins WTO ruling against China grain import quotas

19/04 The United States won a World Trade Organization (WTO) ruling on Thursday against China's use of tariff-rate quotas for rice, wheat and corn, which it successfully argued limited market access for U.S. grain exports.. . .  Full story

China says regrets WTO panel ruling on grain import quotas

19/04 China's Commerce Ministry said on Friday that it regrets a ruling by a World Trade Organization panel that its administration of tariff-rate quotas for rice, wheat and corn violated its accession commitments.. . .  Full story

Shares in Brazilian card processors fall sharply after rival cuts interest rate for merchants

19/04 Shares of Brazilian card payment processors Cielo SA, PagSeguro Digital Ltd and StoneCo Ltd fell sharply on Thursday after rival Itaú Unibanco Holding SA's card-processing unit cut interest rates for small- and medium-sized merchants.. . .  Full story

L Brands says hedge fund to withdraw board nominees after reaching agreement

19/04 L Brands said on Thursday activist investor Barington Capital has agreed to withdraw its proposed board nominees and instead will serve as a special adviser as part of an agreement with the company.. . .  Full story

New N.American trade deal modestly boosts U.S. economy, trade panel finds

19/04 The new North American free trade pact would modestly boost the U.S. economy, especially auto parts production, but may curb vehicle assembly and limit consumer choice in cars, a hotly anticipated analysis from the U.S.. . .  Full story

Tesla's Elon Musk, SEC get another week to work out deal on Twitter use

19/04 Tesla Inc Chief Executive Elon Musk and the U.S. Securities and Exchange Commission will get another week to settle a dispute over Musk's use of Twitter, a federal judge ruled Thursday.. . .  Full story

Tesla's Elon Musk, SEC ask court for another week to work out deal on Twitter use

18/04 Tesla Inc Chief Executive Elon Musk and the U.S. Securities and Exchange Commission are seeking more time from a federal court to settle a dispute over Musk's use of Twitter, according to a court filing. . .  Full story

Soybeans turn higher after dropping to five-month low

18/04 U.S. soybean futures turned higher on Thursday after dropping to a five-month low on concerns about weak export demand and large harvests in South America.. . .  Full story

New N. American trade deal modestly boosts U.S. economy, trade panel finds

18/04 The new North American free trade pact would modestly boost the U.S. economy, especially auto parts production, but may curb vehicle assembly and limit consumer choice in cars, a hotly anticipated analysis from the U.S.. . .  Full story

Pinterest, Zoom shares surge in market debuts after IPOs

18/04 Shares of Pinterest Inc surged almost 30 percent in their stock market debut on Thursday, valuing the online scrapbook company at around $16 billion and signaling investor appetite for new tech listings.. . .  Full story

Wall St closes slightly higher, industrials lead

18/04 Industrials led the S&P 500 and the Dow moderately higher on Thursday after robust U.S. economic data and some healthy corporate earnings reports.. . .  Full story

Canada extends deadline for Trans Mountain pipeline decision to June 18

18/04 Canada has extended the deadline for a decision on whether to push forward with the expansion of the Trans Mountain oil pipeline to June 18 from mid-May, the government said on Thursday.. . .  Full story

Union Pacific operational overhaul gains traction, shares rise

18/04 U.S. railroad operator Union Pacific Corp on Thursday reported a better-than-expected quarterly profit as price increases and cost controls offset the impact of severe winter weather and record flooding that damaged rails in the Midwest.. . .  Full story

Risk of U.S. 'profit recession' eases as results beat forecasts

18/04 The initial earnings results of this reporting period are beating expectations by a wide margin, suggesting to some investors that the S&P 500 may be able to avoid a so-called "profit recession" this year. . .  Full story

Wall St Week Ahead-Earnings deluge could make or break sentiment

18/04 Next week will go a long way in determining whether investors should be concerned about the dawning of an earnings recession or whether back-to-back quarters of negative growth can be avoided in what is. . .  Full story

U.S. oil drillers cut rigs for first week in three -Baker Hughes

18/04 U.S. energy firms this week reduced the number of oil rigs operating for the first time in three weeks as production growth forecasts from shale, the country's largest oil fields, continue to shrink.. . .  Full story

Cotton slips as dollar gains; posts worst week in 2-months

18/04 ICE cotton futures fell on Thursday as the dollar strengthened, while a fall in the weekly export sales report from the United States Department of Agriculture's (USDA) added to the downbeat sentiment.. . .  Full story

Yields slide after weak global manufacturing data

18/04 U.S. Treasury yields fell on Thursday, undermined by weak manufacturing surveys around the world that boosted concerns about a global slowdown. Volume thinned in the afternoon ahead of a long. . .  Full story

U.S. trade agency sees 76,000 new auto jobs from N. American trade deal

18/04 The Trump administration on Thursday estimated that its new North American trade deal will create 76,000 automotive sector jobs within five years as automakers invest some $34 billion in new plants to comply with the. . .  Full story

Fed's Kaplan says he is getting more confident about economy -WSJ

18/04 A top Federal Reserve policymaker on Thursday said he is "getting more confident" in U.S. economic growth this year but still thinks current interest rates are appropriate.. . .  Full story

Weak Asia weighs on Accor Q1 hotel room revenue growth

18/04 Accor, Europe's biggest hotel group, said on Thursday weakness in Asia and in North America held back growth in Revenue Per Available Room (RevPAR), a key gauge of performance for the hotel industry, to 1.6. . .  Full story

U.S. retail sales, labor market data paint upbeat economic picture

18/04 U.S. retail sales increased by the most in 1-1/2 years in March as households boosted purchases of motor vehicles and a range of other goods, the latest indication that economic growth picked up in. . .  Full story

U.S. lawmakers to get long-awaited analysis of new NAFTA deal

18/04 U.S. lawmakers and economists are awaiting a key analysis of the economic impacts of the new North American trade deal, expected to be published late on Thursday and to show minimal gains at best. . .  Full story

U.S. Senate leader calls for raising minimum age to buy tobacco products to 21

18/04 U.S. Senate Majority leader Mitch McConnell said on Thursday he plans to introduce legislation to raise the minimum age for buying tobacco products, including vaping devices, to 21 from 18 to curb their "epidemic". . .  Full story

Canopy Growth to buy Acreage in $3.4 bln deal

18/04 Canopy Growth Corp said on Thursday it had secured a right to buy Acreage Holdings Inc for $3.4 billion once the United States legalizes the production and sale of cannabis.. . .  Full story

McDonald's pulls Signature Crafted burgers, doubles down on Quarter Pounders

18/04 McDonald's Corp said it would remove costlier, premium burgers from its menus in favor of its more popular Quarter Pounders, shifting its focus to simpler and quickly-served burgers.. . .  Full story

BlackRock's plan for Italy's Carige sees higher cash call - sources

18/04 Troubled Italian bank Carige could need a larger-than-expected cash injection of at least 700 million euros ($791 mln) under a rescue plan put forward by U.S. asset manager BlackRock, two sources familiar with the matter. . .  Full story

T. Rowe Price sheds most of its Tesla stake

18/04 T. Rowe Price, once the second-largest investor in Tesla Inc after Chief Executive Officer Elon Musk, has shed most of its stake in the electric carmaker in a series of transactions over the last. . .  Full story

ARA gasoline stocks drop 10 pct - Insights Global

18/04 * Gasoline stocks in independent storage in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub dropped 10 percent in the week to Thursday to their lowest level since December 2018, data from Dutch consultancy Insights Global,. . .  Full story

TSX edges higher as energy stocks track oil gains

18/04 Canada's main stock index edged higher on Thursday, supported by energy stocks, although global growth concerns and a drop in shares of Rogers Communications kept a lid on further gains.. . .  Full story

Jet Airways shares plunge, rivals race to grab grounded carrier's slots

18/04 Jet Airways Ltd shares plunged on Thursday, battered by fears about whether the grounded Indian airline would fly again, even as carriers like rival SpiceJet rushed in to plug a supply gap in the wake. . .  Full story

Check Point Software sees Q2 profit in line with estimates

18/04 Network security provider Check Point Software Technologies reported first quarter net profit that topped expectations by a cent and forecast second quarter profit in line with estimates.. . .  Full story

Daimler to seek 6 bln euros in cost savings at Mercedes - Manager Magazin

18/04 Daimler is looking to make 6 billion euros ($6.75 billion) in cost savings and efficiency gains by 2021 at Mercedes-Benz passenger cars and a further 2 billion euros at its Daimler Trucks division, Manager Magazin. . .  Full story

U.S. economy hits soft patch, putting Fed on alert: Kemp

18/04 The U.S. economy hit a soft patch during the first three months of the year with manufacturing output up only slightly compared with the same period a year earlier and freight movements mostly down.. . .  Full story

New Apple lab uses robots to rip apart devices for recycling materials

18/04 Apple Inc is notorious for keeping what happens in its laboratories a closely guarded secret. But the iPhone maker plans to share openly everything that happens in its newest lab in Austin, Texas.. . .  Full story

Sandvik kicks off Nordic industrial earnings season with order beat

18/04 Swedish engineering group Sandvik reported a better than forecast quarterly order intake on Thursday and said demand remained strong across all its business areas, sending an upbeat signal for the Nordic industrial sector.. . .  Full story

Major automakers fear Trump 'grenade' - imposing U.S. auto tariffs

18/04 Major automakers are bullish on the outlook for the U.S. economy and auto sales, but one big question remains - will President Donald Trump throw a grenade into the sector by imposing sweeping tariffs. . .  Full story

Japan's Motegi may visit U.S. next week to meet trade official Lighthizer

18/04 Japanese Economy Minister Toshimitsu Motegi said on Thursday he might travel to the United States next week to meet U.S. Trade Representative Robert Lighthizer.. . .  Full story

'Can't sleep at night': Despair over jobs as India's Jet Airways grounded

18/04 Bhoja Poojari has handled baggage for India's Jet Airways Ltd since it began flying nearly 26 years ago. Now, like many other Jet employees, he fears for the future as the debt-laden airline descends. . .  Full story

Osram in "good talks" with Bain, Carlyle after report of bid doubts

18/04 German lighting group Osram said on Thursday that talks with Bain Capital and Carlyle Group were continuing, after Manager Magazin said the private equity firms could walk away from a possible takeover.. . .  Full story

Elliott target Pernod pushes up profit outlook

18/04 French spirits maker Pernod Ricard, which is being targeted by activist investor Elliott, raised its profit outlook on bets cost savings and Chinese demand will offset a slowdown in quarterly sales growth.. . .  Full story

Russia's govt weighs new support for sanctioned GAZ Group -TASS

18/04 The Russian government is looking at the expediency of providing further support to sanctioned businessman Oleg Deripaska's GAZ Group, TASS news agency cited a government official as saying on Thursday.. . .  Full story

Japan leaves economy assessment unchanged in April

18/04 Japan's government left its assessment of the economy unchanged in April, after a rare downgrade in March, saying the U.S.-China trade war remained a threat to exports and economic growth.. . .  Full story

Pernod CEO: in regular and "courteous" talks with Elliott

18/04 Drinks group Pernod Ricard is having regular and "courteous" talks with activist investor Elliott, although it is not necessarily meeting Elliott any more than it would with any other regular shareholder, the head of Pernod. . .  Full story

Trump's Cuba hawks try to squeeze Havana over Venezuela role

18/04 The Trump administration on Wednesday imposed new sanctions and other punitive measures on Cuba and Venezuela, seeking to ratchet up U.S. pressure on Havana to end its support for Venezuela's socialist president, Nicolas Maduro.. . .  Full story

China's Luckin Coffee raises $150 mln from BlackRock, others

18/04 China's Luckin Coffee, a self-declared challenger to Starbucks Corp, has raised $150 million in its latest round of funding from investors including BlackRock Inc, which values the company at $2.9 billion.. . .  Full story

COLUMN-White House will tie Iran sanctions review to response by Saudi Arabia: Kemp

18/04 The White House will have to weigh costs and benefits carefully before tightening sanctions on Iran and Venezuela further – and decide whether the economic price is worth the diplomatic gains.. . .  Full story

Trade, North Korea on agenda for Abe-Trump White House meeting April 26

18/04 Japanese Prime Minister Shinzo Abe is expected to meet U.S. President Donald Trump at the White House on April 26 to discuss trade and efforts to contain North Korea's nuclear program, a U.S. official. . .  Full story

Petrobras hikes diesel price, eyes divestments amid investor unease

18/04 Brazilian state-run oil firm Petroleo Brasileiro SA hiked diesel prices on Wednesday, and executives said the firm could expand its already aggressive divestment plan while arguing the company was completely free of political interference.. . .  Full story

Trump allows lawsuits over Cuba confiscated property: What you need to know

18/04 The Trump administration announced on Wednesday it was allowing U.S. citizens to file lawsuits against both Cuban entities and foreign companies over property seized and used following Fidel Castro's 1959 revolution.. . .  Full story

WeWork pulls out of talks to take on more Hong Kong space- sources

18/04 U.S. shared workspace group WeWork has pulled out of at least five negotiations to take on new space in Hong Kong this year, sources said, highlighting a cooling down of the co-working industry because. . .  Full story

JPMorgan shuffles CFO and card services executives

18/04 JPMorgan Chase & Co shuffled the jobs of two of its most senior women executives on Wednesday, moving Chief Financial Officer Marianne Lake to a role leading consumer lending and naming the head of. . .  Full story

Wisconsin governor says he wants to renegotiate Foxconn contract

18/04 Wisconsin's governor said on Wednesday he wants to renegotiate the state's contract with Foxconn Technology Group for investment incentives because the Taiwanese company is not expected to reach its job creation goals for the state.. . .  Full story

BlackRock strategists advocate trimming investment portfolio risk

17/04 Strategists at the world's largest asset manager BlackRock Inc told their financial adviser clients on Wednesday to look at cutting back on risk and lower expectations for high returns on stocks and bonds.. . .  Full story

US STOCKS-Wall Street slips, weighed down by healthcare plunge

17/04 U.S. stocks ended slightly lower on Wednesday as a drop in healthcare shares overshadowed a string of positive corporate earnings and upbeat economic data from the United States and China.. . .  Full story

Wheat futures edge higher in turnaround from losses

17/04 U.S. wheat futures rose on Wednesday in a rebound from falls to one-month lows a day earlier on the Chicago Board of Trade and contract lows in Kansas City and Minneapolis markets.. . .  Full story

Yields dip as U.S. stocks fade in holiday-shortened week

17/04 U.S. Treasury yields drifted lower from four-week highs on Wednesday, as Wall Street shares lost steam in a holiday-shortened week and investors got back in the market after a recent sell-off.. . .  Full story

Oil settles lower as U.S. inventories disappoint market

17/04 Crude prices declined slightly on Wednesday as U.S. government data showed inventories drew down less than an industry report had suggested on Tuesday.. . .  Full story

Cotton futures inch higher on firm technical outlook

17/04 ICE cotton futures edged higher on Wednesday as the technical picture for prices improved, supported by optimism from progressing U.S.-China trade talks. * The most-active cotton contract on ICE Futures. . .  Full story

EU parliament votes to fine internet firms for not removing extremist content quickly

17/04 The European parliament voted on Wednesday to fine firms like Facebook, Google and Twitter up to 4 percent of their turnover if they persistently fail to remove extremist content within one hour of being asked. . .  Full story

U.S. shale producers see rising ultralight crude output hitting pricing

17/04 Much of the new crude coming from the top U.S. shale field is so light that it is starting to affect pricing for the region's oil, producers attending an energy conference this week said.. . .  Full story

India's Jet Airways finds itself out of runway as funds dry up

17/04 Embattled Jet Airways halted all flight operations indefinitely on Wednesday after its lenders rejected its plea for emergency funds, potentially bringing the curtains down on what was once India's largest private airline.. . .  Full story

China's Tianqi taps 'safe choices' for board of top lithium miner SQM

17/04 China's Tianqi Lithium Corp said on Wednesday it would nominate two Chileans and a U.S. businessman to the board of lithium miner SQM, candidates seen as 'safe choices' for the world's No. 2 lithium. . .  Full story

U.S. trade deficit hits eight-month low on weak Chinese imports

17/04 The U.S. trade deficit fell to an eight-month low in February as imports from China plunged, temporarily providing a boost to President Donald Trump's "America First" agenda and economic growth in the first quarter.. . .  Full story

Wall Street banks under pressure to make deeper cost cuts

17/04 Top U.S. banks must make deeper cost cuts to drive earnings growth, with revenue expected to remain under pressure for the foreseeable future, analysts said.. . .  Full story

Italian banks likely to fund part of Carige's rescue

17/04 Italian banks are in talks with BlackRock over a possible deal to salvage troubled bank Carige, the head of a depositor guarantee fund financed by the country's banks said on Wednesday.. . .  Full story

Bangladesh garment makers ask government to extend export subsidy

17/04 Bangladesh’s garment makers have asked the government to extend a 5 percent export subsidy for the industry, saying they are being squeezed between low international prices for clothing and rising production costs.. . .  Full story

Qualcomm gains $30 bln in market value after Apple settlement

17/04 Qualcomm Inc added $30 billion to its market value after it resolved a legal battle with Apple Inc, a move that secures its leadership in 5G phone chips and could pave the way for. . .  Full story

BNY Mellon expects net interest revenue to drop again, shares slide

17/04 Bank of New York Mellon Corp said on Wednesday it expects net interest revenue to decline again in the current quarter as the world's largest custodian bank pays higher interest rates to attract deposits,. . .  Full story

Toyota to sell first hybrid car made in Brazil

17/04 Japan's Toyota Motor Corp said on Wednesday it will begin building a new version of the Corolla sedan in Brazil that will run on electricity, ethanol and gas, which it says will be the. . .  Full story

Italian banks to discuss Carige rescue on Wednesday -sources

17/04 Italian banks will discuss on Wednesday whether to back the latest rescue plan for Banca Carige by taking a stake alongside a fund owned by U.S. asset manager BlackRock, two sources close to the talks. . .  Full story

Jet Airways: How the "Joy of Flying" airline's dreams soured

17/04 Beleaguered carrier Jet Airways halted all operations on Wednesday after its lenders rejected its plea for emergency funding from the airline that was once India's largest private carrier.. . .  Full story

U.S. crude stockpiles drop unexpectedly last week - EIA

17/04 U.S. crude oil stockpiles fell unexpectedly last week as imports dropped, while gasoline and distillate inventories decreased less than forecasts, the Energy Information Administration said on Wednesday.. . .  Full story

Indian refiners turn to OPEC, Mexico, U.S. to make up Iran oil gap

17/04 Indian refiners are increasing their planned purchases from OPEC nations, Mexico and the United States to make up for any loss of Iranian oil if the U.S. enforces sanctions more harshly from next month,. . .  Full story

Foxconn's Gou throws hat in ring for Taiwan presidency, with blessing of sea goddess

17/04 Terry Gou, chairman of Apple supplier Foxconn, said on Wednesday he will contest Taiwan's 2020 presidential election, shaking up the political landscape at a time of heightened tension between the self-ruled island and Beijing.. . .  Full story

White House will tie Iran sanctions review to response by Saudi Arabia: Kemp

17/04 The White House will have to weigh costs and benefits carefully before tightening sanctions on Iran and Venezuela further – and decide whether the economic price is worth the diplomatic gains.. . .  Full story

TSX rises as higher oil prices lift energy stocks

17/04 Canada's main stock index rose modestly on Wednesday, after higher oil prices lifted the energy sector.. . .  Full story

Video app TikTok's India download ban worries wider tech industry

17/04 An Indian ban on downloading TikTok, one of the world's most popular mobile applications, has heightened industry worries that technology companies could now face increased scrutiny and regulatory challenges in one of their most. . .  Full story

RWE CFO maps out planned expansion in renewables, U.S. in focus

17/04 German utility RWE expects to spend heavily in the U.S. green energy market as it maps out its future as a global renewables champion after its pending asset swap with peer E.ON.. . .  Full story

Truck drivers see orders, miles fall in latest U.S. slowdown signal

17/04 At a truck stop in Ridgefield, New Jersey, driver Paul Richards reviews a notebook where he tracks miles driven and what he is hauling. His paycheck is down about 25 percent from the same. . .  Full story

EU warns U.S. against exposing EU firms in Cuba

17/04 The European Union on Wednesday reiterated its opposition to European firms and citizens being caught out by U.S. sanctions on Cuba, calling on Washington to adhere to a 1998 agreement to grant a consistent waiver. . .  Full story

Iran closes oil wells in flood-hit Khuzestan province, output drops

17/04 Iran has shut around a dozen oil wells in its oil-rich southwestern Khuzestan province because of massive floods, the semi-official Mehr news agency reported on Wednesday, leading to a drop of up to 20,000. . .  Full story

ASML expects faster growth as China chipmakers drive demand

17/04 ASML reported a better-than-expected first quarter profit on Wednesday and said it expects growth to accelerate, thanks in part to demand from Chinese chipmakers, lifting shares in the Dutch semiconductor equipment maker.. . .  Full story