Nigel Farage has announced that his Brexit Party will not contest parliamentary seats held by Boris Johnson’s Conservatives at the upcoming December election. The decision — a boost for Johnson — effectively reverses the anti-EU campaigner’s earlier pledge that the Brexit Party would fight all seats unless the prime minister committed to a no-deal Brexit. […] Read more
Gap Inc. shares tumbled in extended trading Thursday after the company said CEO Art Peck will be stepping down immediately, and be replaced by the founders’ son temporarily. Gap, which has been struggling to revive its sales, also slashed its forecast for the year, citing a “challenging quarter.” Its shares sank more than 7% in […] Read more
OPEC has downwardly revised its forecast for global oil demand growth over both the medium-term and long-term, citing tough market conditions and “signs of stress” in the world economy. In its closely-watched annual World Oil Outlook (WOO), the Middle East-dominated producer group said Tuesday that the last 12 months had been “challenging” for energy markets […] Read more
Apple said Monday it will contribute $2.5 billion to try and alleviate California’s housing crisis, raising the bar for tech companies to commit to the communities in which they reside. “Before the world knew the name Silicon Valley, and long before we carried technology in our pockets, Apple called this region home, and we feel […] Read more
Oil markets are expected to face excess supplies in 2020 due to a production boost amid weak demand growth, the director for energy markets and security at the International Energy Agency said Tuesday. “Overall, we will continue to see a well supplied market in 2020,” said Keisuke Sadamori at the Singapore International Energy Week. “Unless […] Read more
The timing of Moscow’s announcement over the weekend that President Vladimir Putin has accepted an invitation to visit Manila has raised eyebrows, as it comes on the eve of crucial bilateral talks between the Philippines and China on joint oil exploration in the South China Sea. In a statement immediately welcomed by the Philippine presidential […] Read more
Carlos Ghosn’s lawyers have asked the Tokyo District Court to dismiss all charges against the former Nissan Motor Co Ltd chairman, saying prosecutors colluded with government officials and Nissan executives to oust him from his post. Ghosn’s legal team in a press release on Thursday said they had submitted two court filings ahead of a […] Read more
Negotiators from the U.K. and EU reached a draft Brexit deal in 11th-hour talks Thursday, although there are serious doubts that the agreement will be approved by U.K. lawmakers back in Westminster. Sterling rose on news after the U.K. made concessions over the Irish border, an issue that had proven to be the biggest obstacle […] Read more
The co-creator of Facebook-backed libra defended the cryptocurrency on Wednesday after a number of recent high-profile companies abandoned the effort. Libra ran into issues Friday after Visa, Mastercard, Stripe, eBay and Mercado Pago bolted. Booking Holdings, formerly Priceline, left Monday. Each of the companies would have potentially invested $10 million each into the project. The […] Read more
Sterling rose sharply against the dollar Tuesday after optimistic comments on Brexit from European negotiator Michel Barnier were backed up by reports that a draft legal text over the divorce was being drawn up. “Our team(s) are working hard, and work has just started now today, this work has been intense over the weekend and […] Read more
