On Thursday, OPEC members and other oil producers are set to convene in Vienna to discuss curbing global oil production. Despite some expectations that Russia will agree to extend production cuts, crude oil prices settled lower on Wednesday, just above $57 per barrel, and were little changed in the evening. Bill Baruch, president of Blue […]
Read morePlans to reform the U.S. tax system are positive not only for the U.S. economy but also for banks, the chief executive of Credit Suisse told CNBC Thursday. “If it goes through it will be a positive for the U.S. economy, for earnings and therefore positive for banks,” Tidjane Thiam told CNBC. “So I think […]
Read moreOne in every eight Irish jobs is in agriculture and food processing, or agrifood. Proportionally, that makes the industry as important to Ireland as the car industry is to Germany. In the U.K. province of Northern Ireland, where 1.8 million people live, the agrifood industry accounts for about 70,000 local jobs. Because of its strong […]
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Euro zone finance ministers to vote on their new chief – here’s all you need to know
The 19 finance ministers of the euro zone are due to vote on their new chief at a meeting Monday – a key moment to understand what direction the monetary union might take in the near future. The vote is important, not only because the new president of the Eurogroup will be faced with key […]
Read moreRussia’s foreign minister has accused the U.S. of not being straightforward about its intentions towards North Korea. Foreign Minister Sergey Lavrov said Thursday that the U.S. could have deliberately provoked North Korea to take tough actions, according to Russian state news agency TASS. “Washington’s recent steps seem to be deliberately aimed at provoking Pyongyang to […]
Read moreAirbnb has crucial decisions to make before it eventually floats on the stock market but will likely become a public company in the next couple of years, one investor told CNBC Thursday. “When they go public, so many factors will go into it – the markets, how they think about international expansion, they want to […]
Read moreMoon Express, a company planning to mine material on the moon, is “definitely” going to launch its first mission next year, and could have human colonies there within five years, Chairman Naveen Jain told CNBC on Thursday. In January, the company said that it was targeting a date in late 2017 to send its lander […]
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OPEC, Russia on track to announce deal extension but there could be caveats
OPEC and Russia appeared set to extend oil supply cuts until the end of 2018 on Thursday, but concerns the market may soon overheat prompted speculation any agreed deal could also have a caveat. The 14-member group OPEC, Russia and nine other producers are currently cutting production by around 1.8 million barrels per day until […]
Read moreThe leader of prominent Irish political party Fianna Fail is optimistic that upcoming Brexit talks will produce some sort of proposal for Ireland regarding its northern border. This marks a starkly different attitude from many other European Union member states and certainly many other Irish politicians. “I think something will come through. I mean, my […]
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Credit Suisse targets more cost cuts, sets 2019 and 2020 yield goals
Credit Suisse on Thursday announced ambitions to pare costs beyond 2018, as Chief Executive Tidjane Thiam builds on a revamp of the Swiss lender the bank says will be completed that year.In a statement ahead of its investor day, Credit Suisse said it is aiming for a return on tangible equity of 10-11 percent in […]
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