News of the switch for the 60,000 barrel-per-day pipeline has already sharply narrowed the discount for WTI delivered at Midland to that at Cushing, the delivery point for the benchmark U.S. crude futures contract.» Read More
Germany intends to be one of the first countries to try to put the brakes on high-frequency trading, the computer-driven force that has been rattling stock markets across the globe, the New York Times reports.
“A man’s got to know his limitations,” says “Dirty Harry” Callahan, the gun-toting, rule book-ignoring cop immortalised by Clint Eastwood in Magnum Force. It is a principle the US Federal Reserve could learn from, the FT reports.
To say that the choice of Tim Pawlenty to represent the banking industry is odd would be an understatement, but his appointment is the clearest sign yet of the flexible ethic that makes the revolving door in Washington spin faster.
If life in the euro zone’s economically embattled periphery was not bad enough, now the coffee culture emblematic of southern Europe is under siege. Italians are having to cut back on their cappuccinos and espressos and Spaniards are dropping their cortados, contributing to a sharp drop in wholesale coffee prices. The FT reports.
Forget the sharp slide in oil prices. What’s really concentrating minds in oil markets is the huge sums at stake in a bet on the direction of Brent and WTI — the world’s most heavily traded crude benchmarks.
The devil may have much more than the best tunes. To listen to the president of Germany’s Bundesbank, he also offers the best cautionary tale about the perils of state financing by a central bank. The FT reports.
Prominent conservatives joined Barack Obama in condemning Mitt Romney over leaked comments portraying the US president’s supporters as dependent on government, draining momentum from the challenger’s faltering campaign. The FT reports.
A look at what triggered oil's rapid price drop on Monday, with CNBC's Sharon Epperson and Tres Knippa, Kenai Capital Management.
Commercial lawyers have joined a chorus of concern over what impact reform of the London interbank lending rate could have on existing financial contracts as a review into Libor by the City watchdog draws to a close. The FT reports.
Discussing whether or not Bernanke will spark inflation with the latest round of quantitative easing, with Kevin Caron, Stifel Nicolaus portfolio manager, and Robert Brusca, FAO Economics chief economist.
Apple’s rapid international rollout of the new iPhone 5 has prompted many analysts to upgrade their sales forecasts for the smartphone, with some suggesting it could sell almost twice as many in the opening weekend as the iPhone 4 two years ago.
BAE Systems has insisted it will walk away from talks with EADS unless the combined European champion in aerospace and defence was allowed to operate as a normal company without political interference. The FT reports.
When Tom Enders, a former paratrooper in the German armed forces, took the helm of EADS in June, he let it be known inside the company that he wanted to do something bold to put his stamp on the European aerospace manufacturer. The FT reports.
Things are perking up for the automobile industry as cheap financing makes a comeback, and the reason can be traced to booming demand for asset-backed securities on Wall Street. The FT reports.
Catalonia no longer fits within Spain and needs to explore the option of independence, according to a leading nationalist and former head of the Catalan regional government. The FT reports.
Elizabeth Warren took direct aim at Wall Street chief executives – who “wrecked our economy” and “strut around Congress . . . acting like we should thank them” – in a primetime address on Wednesday night that solidified her reputation as a rising liberal star. The FT reports.
Citigroup is launching a commodity trade finance business to capitalize on the pullback from the market by European lenders such as BNP Paribas, the Financial Times reports.
The private bank of Goldman Sachs is quietly beefing up its lending to wealthy individuals with a host of new loan products and credit offerings. The FT reports.
Investors in the €1.1tn European money market fund industry are facing losses as big managers prepare to pass on the impact of negative short-term interest rates, the Financial Times reports.
David Cameron began an overhaul of his ministerial team on Monday night, in a reshuffle that No 10 said would inject “fighting spirit” into the coalition and promote bright young ministers with a record of delivery. The FT reports.
China is letting U.S. firms play a bigger role in the industry in exchange for their U.S. expertise, says Oilprice.com.
Food prices are high, but for the $100 watermelons and pumpkins Tony Dighera grows, demand is outstripping supply.
Analysts are weighing up the many factors that have been causing the commodity gold to trade in a tight range in recent months.