Reuters Before the Bell: Oil rises towards $69 but set for 2019's biggest weekly loss

Click to View in Browser Friday, May 24, 2019 Oil rises towards $69 but set for 2019's biggest weekly loss Oil rose towards $69 a barrel on Friday after two sessions of losses, but remained on track for its biggest weekly drop this year due to rising inventories and concerns about an economic slowdown. Nestle still committed to global confectionery: CEO Nestle remains committed to confectionery despite unloading its U.S. chocolate operations during a review of the food giant's operations, Chief Executive Mark Schneider told an event in Switzerland on Friday. Global stocks climb on muted trade hopes, sterling yo-yos as PM May quits World stocks edged higher on Friday and oil prices bounced after comments by President Donald Trump encouraged hopes of progress in U.S.-China trade talks while British Prime Minister Theresa May's resignation briefly sent sterling fluctuating wildly. China denounces U.S. 'rumors' and 'lies' about Huawei ties to Beijing China on Friday denounced U.S. Secretary of State Mike Pompeo for fabricating rumors after he said the chief executive of China's Huawei Technologies Co Ltd was lying about his company's ties to the Beijing government. Foreign investors hope India dials back policy shocks after Modi win Foreign companies in India have welcomed Prime Minister Narendra Modi's election victory for the political stability it brings, but now they need to see him soften a protectionist stance adopted in the past year. Singapore chases tech 'Jedi Masters' for Silicon Valley ambitions San Francisco-based investor Paul Bragiel said he needed to be asked three or four times before he accepted an invitation from Singapore to come check out its tech scene. Light PBOC touch makes once unlikely yuan at 7/$ seem possible As China's yuan slips to historically weak levels against the dollar, the central bank's atypical light touch is spurring speculation that policymakers want to be more judicious in their intervention and have no specific target for the currency. OECD members, including U.S., back guiding principles to make AI safer The evolution of artificial intelligence is driving advances in technology but raising questions over ethics, the head of the OECD said on Wednesday, as more than 40 nations backed a set of principles meant to improve transparency around AI. U.S. regulator sees approval of Boeing 737 MAX to fly as soon as late June: sources The Federal Aviation Administration (FAA) expects to approve Boeing Co's 737 MAX jet to return to service as soon as late June, representatives of the U.S. air regulator informed members of the United Nations' aviation agency in a private briefing on Thursday, sources told Reuters. China airline association estimates losses from 737 MAX grounding at $579 million The China Air Transport Association (CATA) on Friday said it estimates losses at Chinese airlines caused by the grounding of Boeing Co's 737 MAX aircraft will reach around 4 billion yuan ($579.32 million) by the end of June. Related Video Rihanna's rare venture with LVMH unveiled U.S., China step up verbal attacks in trade war 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 2019 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