OPEC and its allies look set to extend oil supply cuts this week at least until the end of 2019 as Iran joined top producers Saudi Arabia, Iraq and Russia in endorsing a policy aimed at propping up the price of crude amid a weakening global economy. Iranian Oil Minister Bijan Zanganeh told...

Asian markets surged Monday after Donald Trump and Xi Jinping agreed to restart trade talks, reviving hopes of an end to their tariffs war, while oil prices also rallied on news that Saudi Arabia and Russia will extend their output caps. Trump's historic visit to North Korea, where he met...

Russia and Saudi Arabia have agreed to extend a deal to keep oil production low owing to abundant world supplies, President Vladimir Putin said Saturday. "We will extend this deal, Russia and Saudi Arabia. For how long? We will think about that. For six or nine months. It is possible that...

Huawei's founder likened his company to a badly damaged plane Monday and said revenues will be $30 billion less than forecast over the next two years. The Chinese telecom giant will reduce capacity but U.S. moves to restrict its business "will not stop us," Ren Zhengfei, who is also the...

China's exports beat gloomy forecasts to rebound in May though imports sank more than expected as the trade war with the United States heats up, official data showed Monday. The spat between the world's top two economies escalated last month, with President Donald Trump increasing tariffs...

The head of the International Monetary Fund warned Sunday that global trade tensions posed the "principal threat" to the world economic outlook and U.S.-China tariffs could make a "significant dent" in any recovery. "The principal threat stems from continuing trade tensions," said Christine...

France is ready to consider paring back its 15-percent stake in Renault in the interests of consolidating the automaker's alliance with Japanese partner Nissan, Finance Minister Bruno Le Maire said Saturday. In an interview with AFP on the sidelines of the G20 finance ministers' meeting in...

 NASA said Friday it will open up the International Space Station for tourism and other business ventures as of next year, as it seeks to financially disengage from the orbiting research lab. NASA made the announcement at a news conference, and said costs and arrangements for flying...

Ford will close its engine plant in Bridgend, south Wales, by September 2020, a trade union said on Thursday, putting 1,700 jobs at risk in the latest blow to Britain’s car industry. Ford is making cuts in several markets to turn around loss-making operations and has also repeatedly warned...

U.S. President Donald Trump threatened to hit China with tariffs on “at least” another $300 billion worth of Chinese goods but said he thought both China and Mexico wanted to make deals in their trade disputes with the United States. Tensions between the world’s two largest economies have...

Chinese importers are preparing applications for waivers on import tariffs levied on more than 700 U.S. goods in the Sino-U.S. trade war, after the finance ministry said it would start taking submissions. The Ministry of Finance last week posted a list of goods for which waivers could be...

Top oil exporter Saudi Arabia is expected to raise prices for all crude grades it sells to Asia in July for a third straight month after Middle East crude benchmarks jumped, trade sources said on Thursday. The producer is likely to increase the official selling price (OSP) for flagship Arab...

The prospect of a merger between French carmaker Renault and Italian-US auto giant Fiat Chrysler received a warm welcome on Monday, with analysts hailing the idea as an ideal fit for two companies who must keep up in the highly competitive industry. The 50-50 combination offered by Fiat,...

Oil prices were mixed on Monday, with U.S. crude under pressure from Sino-American trade tensions, while Brent prices were supported by OPEC’s supply cuts. Front-month U.S. West Texas Intermediate (WTI) crude futures were at $58.43 per barrel at 0700 GMT, down 20 cents, or 0.3%, from their...

While Huawei's founder brushes aside a US ban against his company, the telecom giant's employees have been less sanguine, confessing fears for their future in online chat rooms. Huawei CEO Ren Zhengfei declared this week the company has a hoard of microchips and the ability to make its own...

Japan and the United States still need to work to narrow their differences on trade, Japan’s economy minister said on Saturday, following a meeting with U.S. Trade Representative Robert Lighthizer. Toshimitsu Motegi met with Lighthizer in Tokyo for trade talks ahead of a meeting on Monday...

Oil prices dropped by around 1% on Thursday, extending falls from the previous session amid surging U.S. crude inventories and weak demand from refineries. Brent crude futures, the international benchmark for oil prices, were at $70.36 per barrel at 0652 GMT, down 63 cents, or 0.9%, from...

Oil prices fell on Wednesday after industry data showed an increase in U.S. crude inventories and as Saudi Arabia pledged to keep markets balanced. However, analysts said oil markets remained tight amid supply cuts led by producer group OPEC and as political tension escalates in the Middle...

The British pound was rooted at four-month lows Wednesday after British MPs slammed Theresa May's latest plan to push through her Brexit plan, increasing the chances of a no-deal divorce, while Asian markets drifted as dealers fret over China-US tensions. With Wall Street providing a...

Concerns about the worsening Huawei row and the broader China-US trade war put pressure on Asia equities on Tuesday, with analysts warning the crisis could rumble on for some time. Regional investors were spooked by a sharp drop in New York's tech-rich Nasdaq after Google said it was...