The ever increasing surplus in oil production is boosting more demand for storage facility. The Contango opportunity is driving traders to store more oil on shore storage capacities. Many global oil companies and traders as well are booking tankers for next one year.

Sep 28, 2015 09:25 PM EDT

The list of Petrobas’ problems just grew larger as The Bill and Melinda Gates Foundation recently joined the plaintiffs who are suing the company over its treachery and corruption.

Sep 28, 2015 08:59 PM EDT

Mark Zuckerberg says connecting the world to the internet will alleviate poverty.

Sep 28, 2015 08:41 PM EDT

The 413 billion euros could be the reason why there is a strong tie between Berlin and the German automobile industry.

Sep 28, 2015 07:05 PM EDT

Vocus Communications agreed to buy the M2 Group for A$1.93B. The merging will make them the fourth largest telecom company in Australia and third in New Zealand.

Sep 28, 2015 09:41 AM EDT

Peole around the world is ignoring the harmful effects of climate change may bring. And now that we are experiencing its wrath, countries and companies pledged to use renewable energy to fight climate change hoping it's not too late.

Sep 28, 2015 08:41 AM EDT

Reacting first time on the emission results rigging scandal after assuming the new position, Matthias Müller, the new CEO of trouble-hit Volkswagen, has assured investors and customers that such misconduct will never happen again.

Sep 28, 2015 04:35 AM EDT

Coca-Cola Co. is planing to sell its nine US-based production facilities as part of the plan that could cut the costs and modernized operations.

Sep 28, 2015 04:33 AM EDT

After feeling the heat of $1.3billion accounting scandal, Toshiba has undertaken restructuring plan to overhaul its operations including overseas network. Toshiba is selling five percent stake each in two whitegoods units to Chinese firm Skyworth Digital Holdings. Toshiba has convened an EGM on 30 September to discusson on future plan.

Sep 27, 2015 09:02 PM EDT

The group of hedge funds seems to be slitiing off over the restructuring plan for the ailing Puerto Rico economy. Recently the Islan's governor Alejandro Garcia Padilla said that debts were unsustainable. Since then difference of opinion has started widening further among the members. On the other hand, there's increasing voice against the participation of Antonio Weiss in the restructuring talks as it leads to conflict of interest.

Sep 27, 2015 08:57 PM EDT

New home sales were up in August, while business investment eased in August. The latest data for August indicates that US economy is not disturbed much with ongoing slugishness in the global economy. It's estimated that earlier forecast on US GDP growth rate of 1.4 percent is possible for the third quarter.

Sep 27, 2015 08:53 PM EDT

Norway's Central Bank, the Norges Bank announced that it is cutting the country's interest rate to o.75 percent today. This is the second rate cut for this year and the third in 10 months. The rate cut signals a weakening economy in the country's key sector.

Sep 27, 2015 08:39 PM EDT