CNBC's Jackie DeAngelis discusses the day's activity in the commodities markets. Volatile day for commodities as oil was down on the day. Traders continue to watch the Middle East» Read More
CNBC's Pauline Chiou outlines the key events to watch out for this week.
BEIJING, July 21- Rattled by falling home prices, some of the wealthiest Chinese are paring their property investments and turning to private equity or overseas holiday homes, a sign of fading hopes that the once red-hot market can bounce back any time soon.
KUALA LUMPUR, Malaysia— Coping with two disasters within a few months has left some Malaysia Airlines employees so shaken that they've been unable to function properly at work, a union official said Saturday.
*Ukraine says rebel missile shoots down Boeing 777. HRABOVE, Ukraine/ WASHINGTON, July 19- U.S.
SAO PAULO, July 18- Brazilian beef exports to China will increase by more than $1 billion next year following the decision by the world's second-largest economy to lift an embargo on Brazilian beef, the president of an industry group said on Friday.
*Ukraine says rebel missile shoots down Boeing 777. President Barack Obama demanded Russia stop supporting separatists in Ukraine after the downing of a Malaysian airliner by a surface-to-air missile he said was fired from rebel territory raised the prospect of more sanctions on Moscow.
NEW YORK, July 18- Citigroup Inc has about $280 million in loans tied to commodities in two Chinese ports which are at the center of a probe into possible fraud, a senior executive said on Friday, becoming the first U.S. bank to disclose its potential exposure.
President Barack Obama demanded Russia stop supporting separatists in eastern Ukraine after the downing of a Malaysian airline by a surface-to-air missile he said was fired from rebel territory raised the prospect of more sanctions on Moscow.
*Copper faces biggest weekly loss since early June. LONDON, July 18- Copper fell to a two-week low on Friday, and its weekly performance headed for the biggest drop in 18 weeks, on concerns about the Chinese property sector and an outlook for increased production. Copper has dropped nearly 3 percent this week, the biggest weekly drop since mid-March.
MUMBAI, India— A developing nation version of the World Bank was formally agreed this week two years after India proposed the idea to Brazil, Russia, China and South Africa. India ensured a sense of parity with its insistence that each of the countries behind the New Development Bank contribute equal shares of $10 billion to its initial $50 billion capital.
SHANGHAI, July 18- A Chinese construction company at risk of declaring a landmark bond default on nearly $65 million is getting local political support to hold off creditors and get cash, state media reported on Friday, citing sources at the struggling firm.
HRABOVE, Ukraine, July 18- World leaders demanded an international investigation into the shooting down of a Malaysian airliner with 298 people on board over eastern Ukraine in a tragedy that could mark a pivotal moment in the worst crisis between Russia and the West since the Cold War.
KUALA LUMPUR, July 18- Malaysian Airlines System Bhd shares fell sharply on Friday after one of its planes was downed over Ukraine, putting more pressure on a carrier still reeling from the disappearance of Flight MH370 in March.
HONG KONG, July 18- China shares were slightly higher on Friday, as outperforming property developers and the consumer staples sector trimmed gains in the afternoon. The CSI300 of the leading Shanghai and Shenzhen A-share listings rose 0.3 percent.
SEOUL, July 18- South Korea will scrap caps on rice imports from 2015, potentially opening up the politically sensitive market to more imports from countries such as the United States and China, in a move that has been fiercely resisted by many farmers. Seoul said steep tariffs would be used to protect its farmers.
BEIJING, July 18- China's new home prices fell in June from May for a second straight month and analysts forecast the falls would continue- sparking a surprise rally in Chinese property stocks as investors anticipated imminent government support.
*Liquor-makers rise on hopes for Hong Kong- Shanghai linkage. HONG KONG, July 18- China shares rose on Friday morning, reversing early losses as property counters surged after soft home price data triggered expectations of more mini-stimulus by local governments. Some of Hong Kong's losses were erased after China markets regained momentum.
Just four months earlier, a Malaysia Airlines jetliner carrying 239 people disappeared about an hour after taking off from Kuala Lumpur. Even before the Flight 370 mystery, state-owned Malaysia Airlines was in serious financial trouble.
SHANGHAI, July 18- China's yuan steadied against the dollar on Friday, as a balance in dollar supply and demand kept the Chinese currency flat after the central bank held the midpoint steady, traders said. The People's Bank of China fixed its official rate at 6.1568 per dollar, only 0.01 percent weaker than Thursday.
HRABOVE, Ukraine— Ukraine accused pro-Russian separatists of shooting down a Malaysian jetliner with 298 people aboard, sharply escalating the crisis and threatening to draw both East and West deeper into the conflict.