Freight rates for shipping naphtha and other clean oil products from the Middle East to Japan have jumped 13% to their highest levels in nearly two weeks after Washington imposed sanctions on tanker subsidiaries of China’s COSCO, according to industry sources and Refinitiv data.
The Portuguese government has earmarked 150 million euros ($164 million) worth of credit to help local companies affected by the collapse of British travel firm Thomas Cook, the cabinet said on Friday.
Factories have been the first victims of the Trump-era global trade rows. Now the question is how much their troubles will spread to other parts of the world’s biggest economies: the so-called spillover effect.
Key oil freight rates from the Middle East to Asia rocketed as much as 28% on Friday in a global oil shipping market spooked by United States sanctions on units of Chinese giant COSCO for alleged involvement in ferrying crude out of Iran.
Germany intends to remain represented on the Executive Board of the European Central Bank and will shortly name a candidate to succeed Sabine Lautenschlaeger, who announced she would resign earlier this week, a Finance Ministry spokesman said.
The shock resignation of outspoken policy hawk Sabine Lautenschlaeger from the European Central Bank’s Executive Board vacates a seat at the ECB’s top table just as Mario Draghi prepares to hand over the presidency to Christine Lagarde.
British bank HSBC has converted a financial crime-spotting algorithm it was forced to build in the wake of a money-laundering scandal into one that can scope out new business opportunities, bank executives said.
Wells Fargo & Co on Friday named Charles Scharf, the chief executive officer of Bank of New York Mellon , to its top job.
Apple Inc is planning to show feature-length films in theaters before releasing them on its streaming TV service, the Wall Street Journal reported on Friday, citing people familiar with the plans.
UK’s Civil Aviation Authority said on Friday 72 flights are scheduled to operate to bring back a further 16,000 people to the country following the collapse of Thomas Cook.
Turkey will be able to make up for the number of tourists lost after Thomas Cook collapsed earlier this week, Tourism Minister Mehmet Ersoy said on Friday, announcing that several airlines are expected to increase flights to the country.
Austrian sensor maker AMS has increased its takeover offer for German lighting group Osram to 41.00 euros per share from 38.50 euros, heating up a bidding war over Osram.
The challenges facing banks are “enormous”, Commerzbank Chief Executive Martin Zielke said on Friday, after the German lender said it no longer expected a rise in underlying revenues this year.
Oil prices were steady on Thursday but headed for a weekly loss, weighed down by slowing Chinese economic growth that dampens the demand outlook and a faster-than-expected recovery in Saudi output.
The United States on Thursday imposed sanctions on a firm it said was participating in a scheme to avoid U.S. sanctions while helping provide jet fuel to Russian forces in Syria.
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