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Iron ore below $40 in Singapore on surge in supply

The slowdown in China is pulling down the demand and putting more pressure on iron ore prices. The iron ore futures contracts in Singapore fell below $40 a ton for the first time. The market players are concerned over continuous supplies of iron ore. Many steel mills have decided to cut down production level from 2016 onwards.

Dec 01, 2015 10:23 PM EST

News

JPMorgan leaves bonus pool unchanged since 2014

The change in regulations is keeping a pressure on investment banks. Owing to weaker revenues, several investment banks are slashing down on bonus payout. JPMorgan Chase & Co is keeping its bonus pool unchanged from 2014. However, this decision is subject to the trading performance in December.

News

Court orders Anadarko to pay $159.5M penalty for 2010 Deepwater Horizon oil spill

Petroleum company Anadarko was ordered to pay $159.5 million as part-owner of BP's Macondo Well that caused the biggest oil spill in the U.S. The oil spill caused an explosion that killed 11 people and a massive oil spill in Gulf of Mexico in 2010.

News

Experts and Property Companies Doubt George Osborne Housing Plan

Britain's Finance Minister George Osborne annnounced that housing is the biggest priority in his 2015 bi-annual budget review in the House of Commons.

Oil prices strife ahead of OPEC meeting

All eyes on the forthcoming OPEC meeting as oil prices are reeling under pressure amid the global glut in oil supplies and surging US dollar are impacting severely. The US inventories rose to highest in the past eight decades.

Dec 01, 2015 4:24 AM EST

Tokyo stocks fell amid concerns over Japan’s weaker industrial production

Japanese stock fell after data showed that Japan's industrial production fell short of expectations in October. All but three of 33 industry groups of the Topix index took a dive.

Dec 01, 2015 4:11 AM EST

Sweden’s economic growth in third quarter beats expectations

Sweden's third quarter economic growth was double than the rate predicted. The economy grew 0.8 percent while analysts forecasted 0.4 percent from the second quarter 2015. Exports rose by 2.1 percent while the private consumption rose 0.7 percent.

Dec 01, 2015 2:33 AM EST

Shell Chemical to expand alpha olefins production plant in Louisiana

Shell Chemical will expand its petrochemical site to produce alpha olefins chemicals in Louisiana. The company will invest $17 million for the expansion. The construction will begin in the first quarter of 2016.

Dec 01, 2015 2:30 AM EST

Drought, the Reason of Weakening Rand And The Cause of Food Inflation

The drought in South Africa has started to push food prices higher. The effect of it on inflation is a matter of concern for monetary policy committee of RBI as the value of rand is weakening against dollars. SA will face a serious fiscal crisis if rains do not start falling soon.

Nov 30, 2015 10:53 AM EST

US rate hike concerns push Rupee to 26-month lower

The Indian currency Rupee fell against the US dollar to 26-month low following increased concerns about interest rate hike by US Fed. FIIs may sell heavily in Indian markets if US interest rate is increased. Rupee fell 5.5 percent against US dollar this year so far.

Nov 30, 2015 3:02 AM EST

Metals bounce, Asian stock futures gain as equities ease

Asian markets recorded diverge trends in global markets. Metals prices started rebounding along with rising Asian stock futures while stocks slipped into pressure on Friday. The US index futures also rallied. The Chinese government's probe into short selling is weakening the investors' confidence.

Nov 30, 2015 2:43 AM EST

China issues high level alert for the heaviest smog of the year

China authorities in Beijing have issued the highest smog warning of the year. The heavy smog had developed on Friday and would continue until Tuesday. The air pollution levels in Beijing reached 18 times the level considered safe by WHO.

Nov 30, 2015 12:31 AM EST

Brazil confirms that zika virus is causing birth defects in the country

The Brazilian health ministry has confirmed a link between a mosquito-borne virus from Africa, Zika Fever, with the spike in the birth defects cases reported in the country. The fever is causing the newborn child to suffer from micro-encephalitis.

Nov 29, 2015 11:56 PM EST

Iran is changing its oil and gas contract to attract $30 billion in new investment

Iran has revealed a new model of oil and gas contracts during a conference in its capital city in an attempt to lure back international oil companies to invest in the country. According to the announcement, Iran will change its buyback system and allow foreign investors to hold more stake in the long run.

Nov 29, 2015 11:29 PM EST

Gazprom to start coal gasification at South Africa mine project

Gazprom Promgaz has decided to give sole distribution rights on coal gasification technology in sub-Saharan Africa to Anglo-African Capital Ltd. Both companies will work on coal gasification technology for developing new methods to explore coal reserves in more effective way. South Africa is suffering from a major problem of fast depleting coal reserves. Coal contributes over 80 percent in electricity generation in the country.

Nov 29, 2015 9:48 PM EST

NetApp profit beats estimates as cloud focus, cost cuts pay off

NetApp reported a quarterly profit that beat analyst's appraisals, as the organization's cost control measures and a movement to cloud-based storage items start to yield results.

Nov 28, 2015 8:22 PM EST