The Traderszone Network

Oil prices held steady on Friday near 2015-highs reached the session before, remaining on track for weekly gains after renewed air strikes in Yemen stoked concerns on the security of Middle East oil shipments. Crude prices on both sides of the Atlantic have surged almost $10 a barrel this month amid rising tension in the Middle East, while slowing U.S. production growth and signs of stronger global demand have also provided support. Brent crude for June delivery had climbed 22 cents to $65.09 a barrel by 0706 GMT (3.06 a.m. ET), after settling up $2.12 on Thursday.

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UBS Wealth Management, the world’s biggest wealth manager, has cut its positions in U.S. and UK stocks, betting that euro zone shares offer the best value and growth prospects, the firm’s chief investment officer said in a note to clients. The firm cut its tactical allocation to U.S. stocks to the lowest in three years at “neutral” from “overweight” while initiating an “underweight” on UK stocks. It remains overweight euro zone shares, citing a combination of quantitative easing, accelerating economic growth, and strong corporate earnings. “For the first time in years, the U.S.

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Athens needs to move faster in presenting overhaul plans, eurozone ministers say as they gather for a meeting expected to be dominated by the Greek debt negotiations.
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The withering of the transaction is the latest example of a large, ambitious telecommunications merger to falter under scrutiny by the Obama administration, which has promised to evaluate deals vigorously for possible consumer harm.
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Chinese smartphone maker’s chairman wants to make Internet services such as smartphone games and mobile finance an increasing part of its business.
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