Oil prices retreat from $50 on oversupply concerns, stronger dollar
SINGAPORE Oil futures slipped in Asian trade on Friday after hitting resistance at the $50 a barrel mark as investors worried higher prices could reactivate shuttered crude output, adding to global oversupply.Prices were also pressured by a strong greenback that was buoyed by generally positive U.S. economic data amid growing expectations of a near-term rate hike.Brent LCOc1 fell 34 cents, or 0.7 percent, to $49.25 by 0652 GMT on Friday, retreating further from the previous session's $50.51 pe..>> view originalG7 world leaders: Brexit would be a serious risk to the global economic growth
REUTERS/Carlos BarriaBritish Prime Minister David Cameron walks as he arrives at a family photo with other world leaders during the last day of the Group of Seven (G7) summit meetings in Ise Shima, Japan May 27, 2016.ISE-SHIMA, Japan (Reuters) - A British exit from the European Union would be a serious risk to global economic growth, Group of Seven leaders said in a summit declaration on Friday, although German Chancellor Angela Merkel said the issue had not been discussed. The statement will b..>> view originalAsia markets end mostly higher as traders await cues from Yellen on rates
Markets in Asia ended mostly higher on the final trading day of the week as traders awaited direction from U.S. Federal Reserve chief Janet Yellen's comments due later. Japan's Nikkei 225 closed up 62.38 points, or 0.37 percent, at 16,834.84, after data showed consumer prices in April fell, likely putting additional pressure on the Bank of Japan to ease at its next monetary policy meeting, set for June. Before market open, Japan's Statistics Bureau released the consumer price index (CPI) f..>> view originalWells Fargo is offering low down payment mortgages without FHA backing
Wells Fargo & Co. has started offering a new type of mortgage that requires a tiny down payment and could appeal to customers who might otherwise get loans backed by the Federal Housing Administration.Most big banks have pulled back from offering FHA loans after dealing with lawsuits and billion-dollar settlements connected with underwriting problems. Wells Fargo had been the exception, but with its new loan program, called Your First Mortgage, the San Francisco bank could soon be making fewer ..>> view originalHow Viacom Could Have Avoided Its 'Game of Thrones' Leadership Saga
While Viacom’s raging succession battle surrounding owner Sumner Redstone is as compelling as the company’s TV dramas, the script is not new. Akin to Shakespeare’s “King Lear”, Shelley’s “Ozymandias,” or the biblical King Saul, an imperial ruler nearing the end of his life has found that time is not on his side, with few sympathetic figures in the castle. Viacom CEO Philippe Dauman has accused Sumner Redstone’s daughter Sheri of manipulating the genuine wishes of her father, Viacom’s controlli..>> view originalMcDonald's CEO: Company making changes that customers want
NEW YORK — McDonald’s, under intense pressure in a competitive industry, sought to reassure shareholders Thursday that it is making changes to its food and service that customers want. CEO Steve Easterbrook recounted adjustments he has overseen since taking the job early last year, such as improving order accuracy, toasting buns longer to improve the taste of burgers and launching an all-day breakfast menu in the U.S. He also said the company is working on more convenient ways for customers to ..>> view original
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