Oil prices declined on Wednesday, holding below $60 a barrel on data showing a bigger-than-expected rise in U.S. crude stocks, but the prospect of deeper output cuts by OPEC and its allies offered support.
Oil fell on Wednesday after climbing over 1% in the previous session as U.S. industry data showed a bigger-than-expected build in crude stocks, but the possibility of deeper output cuts from OPEC and its allies prevented a further decline.
Nissan Motor Co Ltd is likely to axe its Datsun brand, drop some unprofitable products and close a number of assembly lines worldwide as it seeks to boost profits by getting smaller, two company sources with direct knowledge of the matter said.
Huawei Technologies Co Ltd launched its foldable 5G Mate X smartphone on Wednesday, starting pre-sales for the device in China on the same day.
Boeing's top commercial airplanes executive Kevin McAllister is leaving the company as the planemaker continues to grapple with the fallout from two fatal crashes of its 737 MAX, the company said on Tuesday.
Oil prices rose on Tuesday after China signaled progress in trade talks with the United States and OPEC and its allies mulled deeper production cuts, but gains were capped by forecasts of a buildup in U.S. crude stockpiles.
U.S. prosecutors said on Tuesday they had charged six members of an insider trading ring who worked for firms including Goldman Sachs Group , Moelis and Centerview Partners and allegedly booked tens of millions of dollars in illicit profits.
A lawyer for New York's attorney general on Tuesday told a state judge Exxon Mobil Corp used two sets of books to hide the true cost of climate change regulations from investors, while an attorney for the oil major assailed the claims as false and politically motivated.
Drugmaker Biogen announced it is seeking regulatory approval for its Alzheimer's drug, months after it stopped testing the treatment.
Facing off against a plaintiff’s lawyer for the first time about Johnson & Johnson’s Baby Powder, the company’s Chief Executive Alex Gorsky earlier this month insisted that the company’s iconic brand was safe.
Nike Inc's long-time chief executive officer, Mark Parker, will step down next year and be replaced by John Donahoe, the CEO of cloud computing firm ServiceNow Inc , the footwear and apparel maker said on Tuesday.
U.S. Defense Secretary Mark Esper has removed himself from reviewing a disputed $10 billion cloud computing contract because of a possible conflict of interest, the Pentagon said on Tuesday.
SoftBank Group Corp has agreed to spend more than $10 billion to take over WeWork, doubling down on an ill-fated investment and paying off its co-founder Adam Neumann to relinquish control, people familiar with the matter said on Tuesday.
Boeing's top commercial airplanes executive, Kevin McAllister, is leaving the company as the planemaker grapples with the fallout from two fatal crashes of its 737 MAX, the company said on Tuesday.
The pound weakened and stocks on world markets declined on Tuesday after British lawmakers rejected the government's proposed timetable for passing legislation to ratify its deal to exit the European Union.