🔔 Reuters Before the Bell: Bearish cocktail knocks oil prices off recent highs

Click to View in Browser Wednesday, August 2, 2017 Bearish cocktail knocks oil prices off recent highs LONDON (Reuters) - Oil retreated from this week's eight-week highs above $52 a barrel on Wednesday, following a bearish combination of rising U.S. inventories, an outage at a major European refinery and increasing OPEC production. Exclusive: Venezuelan oil supply to Phillips 66 falls amid quality issues HOUSTON (Reuters) - Venezuela's supply of heavy crude to U.S. independent refiner Phillips 66 has dropped by more than two-thirds this year in part due to quality problems, and the company has cancelled at least one cargo in recent months, according to sources from state-run oil company PDVSA. Israeli taxman seeks $45 million from Coca Cola over royalties: report JERUSALEM (Reuters) - Israel's Tax Authority wants Coca-Cola to pay some 160 million shekels ($45 million) in taxes on royalties that the global beverage giant receives from its local franchise for use of the brand name in Israel, local newspapers reported. Tech stocks bask in Apple glow, Dow eyeing 22,000 LONDON (Reuters) - Asian technology stocks hit 17-year peaks and Wall Street's Dow index looked set to break 22,000 points on Wall Street later, as blockbuster earnings from Apple rippled out to component makers globally. How Toshiba's sale of $18 billion chip unit stalled, and what's next TOKYO (Reuters) - Japanese conglomerate Toshiba Corp's talks to sell its prized memory chip business have stalled, raising concerns over how fast the company can plug a multi-billion-dollar balance sheet hole left by the collapse of its U.S. nuclear business. Austria investigating two companies related to VW scandal VIENNA (Reuters) - Two companies and their bosses are under investigation in Austria for suspected serious fraud, environmental offences and financial crimes in relation to the Volkswagen emissions scandal, a spokeswoman for economic and corruption prosecutors said on Wednesday. CME sees dollars in data sales, but struggles to grow NEW YORK (Reuters) - CME Group Inc, the world's biggest exchange operator by market value, is looking to the lucrative business of selling data to boost revenue, spawn new financial products, and change the way many futures contracts trade. Veiled marketing: Anti-smoking groups slam Indonesia's Big Tobacco JAKARTA (Reuters) - Anti-smoking groups in Indonesia have slammed Big Tobacco for promoting sales by giving retailers cash rewards, shopping vouchers and even money to renovate, urging authorities to enforce advertising curbs to safeguard public health. Seed funding slows in Silicon Valley SAN FRANCISCO (Reuters) - The bloom is off seed funding, the business of providing money to brand-new startups, as investors take a more measured approach to financing emerging U.S. technology companies. Apple doubles down on China as rivals pull ahead SHANGHAI/BEIJING (Reuters) - Apple Inc is binding itself more closely to China as its share of the world's biggest smartphone market slips and it becomes more reliant on selling services which require government approval. Related Video Apple still tickling tech fan taste buds Rwanda's recovery on a roll Make sense of the market with highlights of valuable financial information and reports along with compelling investment insights. Register Today The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2017 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook