An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
Shares of defense companies rose on Monday after the United States military was put on alert by President Donald Trump.Marketsread more
Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
President Donald Trump signaled Iran is not telling the truth about the drone attacks on Saudi Arabia's largest oil facilities.Oilread more
U.S. Secretary of Energy Rick Perry spoke to CNBC's "Squawk on the Street" on Monday following a series of drone attacks on Saudi Arabia's oil facilities caused the largest...Oilread more
Perry says it's too soon to say whether the U.S. will need to use its emergency crude reserves to offset the surge in oil prices.Oilread more
Consumers in the U.S. prefer Apple's more expensive models, while the standard iPhone 11 appears to be more attractive to buyers in China, according to analyst Ming-Chi Kuo.Technologyread more
The Times updated an article detailing a previously unreported accusation against Supreme Court Justice Kavanaugh from when he was a Yale University student, noting that "the...Politicsread more
An extended Saudi oil outage could push Brent crude prices north of $75 per barrel, Goldman Sachs warned clients.Marketsread more
As investors worry about oil supply, airline and cruise ship stocks are getting hit, while some energy stocks are shooting upward.Marketsread more
New Zealand's government on Monday named pension fund chief Adrian Orr as the new governor of the nation's central bank, triggering a rally in the local dollar as markets prepared for changes to the monetary policy mandate.
Orr will take up the role at the Reserve Bank of New Zealand (RBNZ) on March 27, Finance Minister Grant Robertson said in an emailed statement.
The announcement drove the New Zealand dollar up by 0.7 percent to a five-day high of $0.6905.
Orr served as deputy governor of the RBNZ for four years before joining the New Zealand Super Fund in 2007.
Dominick Stephens, chief economist at Westpac, said markets welcomed Orr's appointment, adding that he was unlikely to veer away dramatically from the inflation target.
"He's an extremely accomplished economist, he's got lots of experience at the Reserve Bank and he's unlikely I think to allow inflation out of the box."
Orr takes up the role at a sensitive time for the RBNZ, as the new Labour-led government plans to add maximising employment to the bank's objectives alongside its inflation target.
"The Board agreed unanimously that he can bring to the role of Governor of the Reserve Bank strong leadership and commitment to ensure the Bank is fit for its wide role in the New Zealand economy," said RBNZ board chairman Neil Quigley in the statement.
Robertson said in the statement that the laws to change the bank's mandate would likely not be in force by March, but the policy target agreement between him and Orr would be "developed in a manner consistent with the direction of reform."
In November, Robertson told Reuters that willingness to focus on lifting employment, alongside inflation, would be key in accepting the RBNZ's choice for the next governor.
Previous governor Graeme Wheeler stepped down in September at the end of his five year term and deputy governor Grant Spencer took on the role for a six-month term while the search for a new chief was under way.