Friday 8 March 2019

Daily Investor Update: Oil drops 1 percent as economic outlook weakens, U.S. supply surges

Reuters.com Newsletter

Oil drops 1 percent as economic outlook weakens, U.S. supply surges

Oil prices fell about 1 percent on Friday after disappointing U.S. job growth revived concerns about a slowing global economy and weaker demand for oil.

Canada court dismisses bid by SNC-Lavalin to escape corruption trial

Canada's Federal Court on Friday rejected a bid by SNC-Lavalin Group Inc to challenge prosecutors who insist the construction company must face trial on charges of corruption.

Brazil's Sao Paulo state to offer tax incentives to automakers

Brazil's Sao Paulo state said on Friday it would offer fresh tax incentives to automakers, weeks after Ford Motor Co said it would shut down a plant there with 3,000 employees and General Motors Co hinted it might do the same before backtracking.

Wall Street slides for fifth straight day after weak U.S. jobs report

Wall Street's main indexes fell for a fifth straight session on Friday, as a weak U.S. jobs report ignited more concerns about the global economy.

Global stocks, dollar fall as growth worry abounds

Global stocks fell on Friday and the dollar weakened for the first time in eight sessions after a disappointing U.S. payrolls report fanned concerns that the world economy was slowing.

Exclusive: EDP readies sale of electricity generation assets in Portugal - sources

EDP-Energia de Portugal is working on a plan to sell some of its electricity generation assets in Portugal, three sources close to the matter said, in an effort to free up cash to drive its renewable energy expansion.

Wall Street weekahead: Housing shares dependent on economy easing but not falling

The pace of U.S. economic growth may prove to be critical for shares of homebuilders, which have climbed sharply as spring approaches. An easing economy that allows for lower interest rates supports an optimistic outlook for the industry, investors say, but any hints of a sustained downturn could sink shares.

U.S. February job growth weakest in nearly one and a half years

U.S. employment growth almost stalled in February, with the economy creating only 20,000 jobs, adding to signs of a sharp slowdown in economic activity in the first quarter.

Worst start to year for equity flows since 2008: BAML

A $10 billion wipeout over the last week has compounded the worst start to a year for equity flows since 2008, Bank of America Merrill Lynch strategists said on Friday.

Volkswagen's emissions problems cost the carmaker 3.6 billion euros in 2018: source

Volkswagen's effort to get its fleet of cars certified according to the new WLTP emissions standard have cost the carmaker up to 3.6 billion euros ($4.04 billion) in 2018, a source familiar with the matter told Reuters.

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