Saudi Arabia has had its way at OPEC for decades now. But now Riyadh finds its power waning against a resurgent Iran and Iraq all of a sudden as the position has turned. By hinting it’s prepared to walk away from the negotiations, Saudi Arabia is trying to reassert its authority as Organization of Petroleum…
Tech giant Samsung Electronics Co Ltd will consider creating a holding company in what would be the biggest shake-up in its 47-year history as the company is under pressure from shareholders to improve investor returns, the company said on Tuesday. After a call for the South Korean firm to split itself into a holding vehicle…
As a rare, public backer of Britain’s exit from the European Union, Jim Mellon stood out among investors in 2016. Now another breakup is being forecast by the chairman of the Burnbrae Group. Mellon predicts that the euro would splinter within the next five years and the currency union will become a future casualty of…
As crude prices continue their recovery from a 12-year low, investors in the world’s biggest energy producers have some cause for hope after two tough years of falling oil prices and company valuations. Those investors will be looking to OPEC not to dash this trend. According to data compiled by Bloomberg, in six years following…
Capable of spreading around the world, disrupting ecosystems and becoming a pest for humans, a species of ant in the forests of Ethiopia looks poised to become a globally invasive species. Signs that “supercolonies,” which are colonies comprised of more than one nest, are being exhibited by the species Lepisiota canescens. And a key step to…
As disagreements about how to share the burden of supply cuts stood in the way of a deal to boost prices just days before a make-or-break meeting in Vienna, Saudi Arabia pulled out of planned talks with non-OPEC nations including Russia. Before a ministerial meeting in Vienna two days later, OPEC officials were scheduled to…
There is some good news for every one – well almost everyone: The world’s poorest consumers will get richer. A top performing emerging markets fund in Norway is already being enriched by that as it bets on that assumption. Over the last five years, the Holberg Rurik has managed to get a return of 30…
The chief executive officer of Fiat Chrysler Automobiles NV, Sergio Marchionne is of the view that the Italian automaker’s business in North America could get impacted by the critical stance toward free trade that President-elect Donald Trump had taken during his election campaign trail and now if he follows that up with action. Marchionne told…
Japan, where millennials rank as the gloomiest of those in the world’s biggest economies, youthful optimism can be hard to find. Young adults in Japan are the most pessimistic in 18 countries surveyed by ManpowerGroup, as fewer than 40 percent of young adults in Japan see bright futures and successful careers ahead compared with a majority…
The Goldman Sachs Group Inc. believes that higher oil prices would be a boon for the global economy in complete contrast to the stagflation of the 1970s. The bank’s analysts Jeff Currie and Mikhail Sprogis wrote in a Nov. 22 research note said that asset values and consumer confidence would be boosted as financial markets…
