Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
J.P. Morgan Chase economists said they now see second quarter growth of just 1%, down from their prior forecast of 2.25% and way off the 3.2% reported in the first quarter.Market Insiderread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
Rep. Chip Roy, R-Texas, has objected to a $19.1 billion disaster relief bill that was expected to pass unanimously Friday. The bill is likely to next be considered when...Politicsread more
The markets have been slow to recognize the high-stakes game that's playing out on the world stage.Economyread more
Stocks were headed for weekly losses on Friday as investors worry the U.S.-China trade war is hurting economic growth.US Marketsread more
One of the biggest Chinese chipmakers is delisting from the New York Stock Exchange amid the trade war, but the company said the decision is not related to the intensifying...Marketsread more
President Donald Trump, his businesses and members of his family on Friday appealed a federal judge's decision that Deutsche Bank and Capital One can turn over years of...Politicsread more
While the holiday generally marks a big sales push, this year it comes as cars are sitting on dealer lots longer before getting sold.Personal Financeread more
Facebook's founder Mark Zuckerberg has held talks with the Winklevoss twins, his old rivals, about the social media giant's developing digital currency, the Financial Times...Bitcoinread more
May had failed to win a parliamentary majority on Britain's withdrawal from the European Union.Europe Politicsread more
It is highly unlikely that OPEC and other oil producers would set up a joint structure due to the additional red tape it would create as well as the risk of U.S. monopoly-related sanctions, Russian Energy Minister Alexander Novak said on Thursday.
The Organization of the Petroleum Exporting Countries and other top oil producers led by Russia have since the end of 2016 made an unprecedented joint effort to curb output and support prices.
OPEC and Russia jointly produce more than 40 percent of the world's oil.
Russia's energy ministry had said that Moscow and OPEC lynchpin Saudi Arabia had reached a general agreement that the OPEC+ format should be "institutionalized" and extended until 2019 and beyond to monitor the market and take joint action if needed.
However, Novak said such an idea has been ditched.
"There is a consensus that there will be no such organisation. That's because it requires additional bureaucratic brouhaha in relation to financing, cartel, with the U.S. side," Novak told a briefing to reporters.
I think, non-OPEC (countries) will not agree as they don't want to be hit by sanctions. "
Proposed U.S. legislation known as "NOPEC" could open OPEC up to anti-trust lawsuits but has long laid dormant, with previous U.S. presidents signaling that they would veto any move to make it law.
However, U.S. President Donald Trump has been a vocal critic of OPEC, blaming it for high oil prices and urging it to increase output.
"This won't be an organisation, this is some mechanism of cooperation: to convene, to discuss, adopt some memorandums, joint resolutions," Novak said about future cooperation with OPEC.