LONDON (Reuters) - Oil prices fell more than 1.5 percent on Tuesday, capping gains on European equities, as markets waited to see whether OPEC would be able to hammer out a meaningful output cut during a meeting to rein in a global supply overhang and prop up prices.
VIENNA (Reuters) - Iran and Iraq are resisting pressure from Saudi Arabia to curtail oil production, making it hard for the Organization of the Petroleum Exporting Countries to reach a global output-limiting deal when it meets on Wednesday.
WASHINGTON (Reuters) - U.S. companies are looking for ways to persuade President-elect Donald Trump to soften his threats to cancel the Obama administration's opening to Cuba, a reversal they fear could cost them hundreds of millions of dollars.
NEW YORK (Reuters) - Massachusetts Democratic Senator Elizabeth Warren on Monday criticized Wells Fargo & Co's decision to require customers affected by its unauthorized accounts scandal to go through arbitration rather than allowing them to sue.
MILAN (Reuters) - Italian lender UniCredit has sent invitation letters to 10 banks to form the consortium for its planned multi-billion euro capital increase that should be launched in February, two sources closed to the matter said on Tuesday.
SEOUL (Reuters) - Tech giant Samsung Electronics Co Ltd , under pressure from shareholders to improve investor returns, said on Tuesday it will consider creating a holding company in what would be the biggest shake-up in its 47-year history.
SYDNEY (Reuters) - Australia's antitrust regulator said on Tuesday it is likely to deny four local banks permission to collectively bargain with Apple Inc in relation to its mobile digital payments system.
In a report confirming that the ECB is preparing for a rerun of a post-Brexit scenario, Reuters writes that the ECB is ready to temporarily step up purchases of Italian government bonds if the result of next Sunday's crucial referendum, which according to WSJ will likely determine the future of not only Monte Paschi but other insolvent Italian banks, "rocks markets" and sharply drives up borrowing costs for the euro zone's largest debtor.
As observed here over the past week, Italian government bonds and bank shares have sold off steeply ahead of the Dec. 4 referendum on constitutional reforms as the market has grown to appreciate the risk of political turmoil. Opinion polls suggest the 'No' camp is heading for substantial victory, which could force out Prime Minister Matteo Renzi in the latest upheaval against the ruling establishment sweeping the developed world. Heavily indebted Italy's borrowing costs are closely watched as a potential flashpoint for market instability in the wider euro zone.
Just like in the hours after the Brexit announcement, when the ECB and other regional central banks vowed to step in and stabilize markets, the ECB will likely use its 80 billion monthly bond-buying program - which already hold nearly 1.2 trillion in European bonds - to counter any immediate, further spike in bond yields after the vote, smoothing market moves and supporting bonds, according to four euro zone central bank sources who asked not to be named.
The sources added the scheme was flexible enough to allow for a temporary increase in Italian purchases and that such a move would not necessarily need to be rubber-stamped by the ECB's Governing Council, which i ...
In a choice that confirms Trump's intentions to dismantle Obamacare, Reuters reports that President-elect Donald Trump will shortly announce he has chosen vociferous Obamacare critic Tom Price (R. Ga), an orthopedic surgeon from Georgia, as his Health and Human Services secretary to help him overhaul the U.S. healthcare system.
Chairman of the House Budget Committee Tom Price
"Chairman Price, a renowned physician, has earned a reputation for being a tireless problem solver and the go-to expert on healthcare policy, making him the ideal choice to serve in this capacity," Trump said in a statement. "He is exceptionally qualified to shepherd our commitment to repeal and replace Obamacare and bring affordable and accessible healthcare to every American. I am proud to nominate him as Secretary of Health and Human Services."
Price, who currently leads the House Budget Committee, has spent more than a decade in Congress and has become a close ally of GOP leadership. As a member of the House GOP Doctor's Caucus, Price helped shape the healthcare plan that House Speaker Paul Ryan now pitches as his alternative to ObamaCare. Trump also slected consultant Seema Verma to lead the Centers for Medicare and Medicaid Services (CMS), a powerful agency that oversees government health programs and insurance standards.
Price is a vocal critic of ObamaCare and he brings a deep background in health legislation. In 2014 as the law faced a major challenge at the Supreme Court, Price authored his own plan to replace the law. ...
A plane carrying 81 people, including top Brazilian football team Chapecoense, heading for the biggest game in its history, crashed on its approach to the city of Medellin in Colombia. 76 of those on board have perished.
The charter flight was carrying 72 passengers and nine crew, when it crashed around 10:15 p.m. on Monday. Heavy rain first hampered and then halted rescue operations. Officials told local media that bodies would be removed at first light. Brazilian news organizations reported 21 journalists had been on board to cover the match.
First images of Colombia plane crash show football badge of Chapecoense team & crash debris https://t.co/yEGYqDpluP https://t.co/UrZ6W4fwTE
— BBC Breaking News (@BBCBreaking) November 29, 2016
The Avro RJ85 was produced by a company that is now part of UK's BAE Systems. The plane crashed in a mountainous rural area outside of the city of Medellin and heavy rains at one point halted rescue operations. News showed photos of twisted wreckage and hospital staff awaiting patients.
The lasting mark that Fidel Castro will leave on Cuba could continue to undercut Havana's outreach to the United States long after his death. Shaped by Castro's ideological vision, the autocratic government that exists in Havana today directly conflicts with U.S. laws governing Washington's relationship with it - a reality that is unlikely to change any time soon. But Cuba did not become an autocracy on its own. Many forces, including the United States, helped set its political path, one that must be traced back more than a century to truly understand Castro and the nation he created.
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