3 June, 2015 by The TZ Newswire Staff Comments Off on U.S. economy growing at ‘modest’ to ‘moderate’ pace: Fed
U.S. economy growing at ‘modest’ to ‘moderate’ pace: Fed
U.S. economic activity expanded from early April to late May and growth was expected to continue at a “modest” to “moderate” pace against the backdrop of declining oil and gas investment, the Federal Reserve said on Wednesday. In its Beige Book report of anecdotal information on business activity collected from contacts nationwide, the U.S. central bank said most of its regional Fed banks reported that while manufacturing had either held steady or increased, growth was tempered by the downturn in the oil and gas industry.
3 June, 2015 by The TZ Newswire Staff Comments Off on OPEC moots $80 as new ‘fair’ oil price – but will it stick?
OPEC moots $80 as new ‘fair’ oil price – but will it stick?
Nearly a year after oil markets entered a deep downward spiral, unmoored from the $100-a-barrel mark that had anchored them for years, some OPEC members are publicly talking for the first time about a new “fair” price for their crude. Oil ministers from Iraq, Venezuela and Angola said in Vienna this week that a price of $75 or $80 a barrel – barely $10 above the going rate – could be just fine. Iraq’s Adel Abdel Mahdi said it would be “equitable”.
3 June, 2015 by The TZ Newswire Staff Comments Off on VW signs deal to boost production of electric cars in China
VW signs deal to boost production of electric cars in China
Volkswagen (VOWG_p.DE) on Wednesday said it signed a cooperation agreement with SAIC Motor Corporation to boost production, research and development of electric cars in China. VW said it has agreed to expand the main plant of the Chinese joint venture SVW in Anting. Over the next four years, Volkswagen plans to localize more than 15 different electric vehicle models in China, including plug-in hybrids and fully electric vehicles, the company said.
3 June, 2015 by The TZ Newswire Staff Comments Off on The Wall Street Journal: Dish Network in merger talks with T-Mobile
The Wall Street Journal: Dish Network in merger talks with T-Mobile
Dish Network is in talks to merge with T-Mobile US, a deal that would accelerate a wave of consolidation across the U.S.
3 June, 2015 by The TZ Newswire Staff Comments Off on Here’s the next stage in global currency wars
Here’s the next stage in global currency wars
The race for a devalued currency is set for a new set of twists and turns this summer.
3 June, 2015 by The TZ Newswire Staff Comments Off on Futures Movers: Oil remains under pressure as markets brace for OPEC meeting
Futures Movers: Oil remains under pressure as markets brace for OPEC meeting
The oil market shrugged off reports Wednesday that commercial stockpiles of U.S.
3 June, 2015 by The TZ Newswire Staff Comments Off on Is $60 the new normal for oil?
Is $60 the new normal for oil?
Weak global economic growth momentum and a supply glut will cap oil prices at around $60 for the rest of 2015 and into 2016, analysts say.