Tensions between Japan and South Korea come as the U.S. and its trading partners are embroiled in a global trade war.Technologyread more
The one-to-eight stock split would mean the current number of ordinary shares — which stands at 4 billion — will increase to 32 billion. It comes ahead of a reported Hong Kong...Asia Marketsread more
Minutes from the Reserve Bank of Australia's monetary policy meeting in July showed the central bank was ready to adjust interest rates if required.Asia Marketsread more
Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
China's fiscal spending increased 10.7% in the first six months from a year earlier, the finance ministry said on Tuesday, underlining the government's bid to support the...China Economyread more
The findings by McKinsey and Company come amid a year-long tariff fight between the U.S. and China, which has spilled into areas such as technology and security.China Economyread more
Microsoft's considerable reach into the corporate world isn't something Slack CEO Stewart Butterfield is very concerned about.Technologyread more
A devastating outbreak of African swine fever that has killed millions of pigs in China is changing attitudes in a country where farm hygiene has often been seen as lax by...Livestockread more
In a closed-door meeting at a Manhattan mansion, executives outlined changes to controversial software that was implicated in two crashes.Aerospace & Defenseread more
President Donald Trump and the RNC are picking up key supporters in the business community who did not back him as a candidate in 2016.2020 Electionsread more
Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Oil futures bounced off a four-year low Friday but prices fell for a seventh week in the longest losing streak since 1986.
U.S. crude futures settled up $1.61 at $75.82, after hitting a four-year low earlier in the day. Oil has been selling off on a supply glut, and amid speculation OPEC producers will not cut production when they meet Nov. 27. West Texas Intermediate lost 2.2 percent for the week.
The International Energy Agency, which typically refrains from predicting oil prices, said in its monthly report that prices could fall further in 2015 and pressure was building on OPEC to cut supply.
"Barring any new supply disruption, downward price pressures could build further in the first half of 2015," the IEA, adviser to the United States and other industrialized countries, said.
hit an intra-day low of $76.76 earlier in the session, the lowest since September 2010, before climbing $1.90 amid short covering to $79.39 in afternoon trading. Brent was down more than 5 percent for the week.
Global benchmark Brent was down from $115 in June and has dropped for eight weeks in a row, its longest weekly losing streak since records began in 1988, based on Reuters data.
Oil supply and demand balances of the IEA and other forecasters point to a rising supply surplus in 2015 because of increasing production from the United States and other countries outside OPEC.
OPEC meets on Nov. 27 to discuss its response to falling prices. While some members such as Venezuela want OPEC to reduce output, top exporter Saudi Arabia has yet to say if it supports a cut.
While top OPEC producer Saudi Arabia has yet to say if it backs a supply cut, more smaller producers are supporting the need for action. Algeria and Venezuela will join forces to defend prices, Venezuela's Foreign Minister was quoted on Thursday as saying.
"I think Algeria and Venezuela are saying that they are willing to commit if the rest of OPEC is willing," Bjarne Schieldrop, chief commodity analyst at SEB in Oslo, told the Reuters Global Oil Forum.
"Hopefully we will have enough pain ahead of the OPEC meeting in order for OPEC to become OPEC again."
Supply disruptions still have the potential to support prices. In Libya the Hariga oil port reopened after a protest ended but the El Sharara oilfield remains shut.
Adding to oil glut worries, crude stocks at the key Cushing, Oklahoma, delivery hub climbed by a larger-than-expected 1.7 million barrels last week, the Department of Energy's Energy Information Administration said on Thursday.
But U.S. crude stockpiles unexpectedly fell 1.7 million barrels in the week to Nov. 7, against analysts' expectations of a 750,000 barrel build in inventories, the EIA reported Thursday.
--CNBC contributed to this report.