Chinese officials will be in Washington on Wednesday to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.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
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Traders in the fed funds futures market on Monday were pricing in a 34% chance that the Fed will stay put on rates.The Fedread more
The meeting comes amid months of stalled trade talks between Washington and New Delhi, resulting in both sides taking retaliatory measures.Asia Politicsread more
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh
* Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv
LONDON, May 30 (Reuters) - The pound held near a four-month low against the dollar and the euro on Thursday as investors remained sidelined amid the contest to succeed Prime Minister Theresa May.
May's imminent departure deepens the Brexit crisis as a new leader, who should be in place by the end of July, is likely to want a more decisive split with the bloc, raising the chances of a confrontation with the EU and potentially a snap parliamentary election.
While nearly a dozen candidates are vying for the top job, Boris Johnson, the bookmakers' favorite, has said Britain should leave the EU on Oct. 31, the current deadline, with or without a deal.
"The risk of a no deal and no Brexit have both increased and that's why volatility remains low," said Colin Asher, a senior economist at Mizuho.
"The problem is both extremes have become likely and you don't want to bet the farm on either."
More than half the banks canvassed by Reuters have increased their probabilities of a no-deal Brexit - though parliament's resolute opposition to Britain crashing out without a trade deal means that probability is still seen as low.
Against the dollar, the pound was broadly steady at $1.2629, not far away from a four-month low of $1.2605 hit last week. Versus the euro, the pound was at 88.15 pence.
On a monthly basis, the pound was on track for its biggest monthly drop since June 2018, according to Refinitiv data.
Gauges of expected swings in the pound over the coming months remained firm with six-month implied volatility rising to its highest levels since April 2019.
Britain's finance minister on Thursday warned those in his party vying for the role of prime minister that a no-deal Brexit would threaten the United Kingdom's cohesion and that they should tone down irresponsible spending pledges.
(Reporting by Saikat Chatterjee and Sujata Rao; Editing by Alison Williams)