Bhinneka News Online: Reuters Before the Bell: Oil gains on U.S. inventory drawdown, Gulf of Mexico storm

Wednesday, 10 July 2019

Reuters Before the Bell: Oil gains on U.S. inventory drawdown, Gulf of Mexico storm

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Wednesday, July 10, 2019

Oil gains on U.S. inventory drawdown, Gulf of Mexico storm

Oil prices rose more than 2% on Wednesday after industry data showed U.S. inventories fell more than expected and as major U.S. producers evacuated rigs in the Gulf of Mexico before a storm.

Volvo solves autonomous revenue riddle with package deals

Swedish truckmaker AB Volvo's first commercial autonomous truck deal shows how it is bundling services to generate revenue from a technology that is years away from wide deployment.

Euro zone growth, inflation outlook cut as risks from U.S. trade grow

The European Commission lowered its estimates on Wednesday for euro zone growth and inflation, saying uncertainty over U.S. trade policy posed a major risk to the bloc.

Futures slip ahead of Powell's testimony

U.S. stock futures fell on Wednesday, as investors eyed Federal Reserve Chairman Jerome Powell's remarks later in the day for clues on the central bank's interest rate policy direction.

Deutsche Bank looks to boost wealth management as part of reinvention

With other parts of its business facing hefty cuts, Deutsche Bank wants to expand its European operations handling the assets of rich clients and take market share from rivals after staunching the outflow of assets.

Sewing faces skeptical Deutsche Bank investors on revamp roadshow

Deutsche Bank investors will press Chief Executive Christian Sewing on how he will deliver on revenue growth targets during a global roadshow to win backing for his 7.4 billion euro ($8.4 billion) 'reinvention' plan.

Elliott outspends rivals as corporate activism turns to Germany

Elliott Management Corp has invested more than rivals in its push for corporate change so far this year and there has been an increasing focus among activist investors on German companies.

Superdry warns of long road to recovery as slashes store value

The founder of Superdry warned the revival of the struggling British fashion group would be a long haul after a 130 million pound ($161 million) charge for poorly performing stores pushed it into an annual loss, sending its shares lower.

Aggressive U.S. energy policy tests ties with European allies

For the administration of President Donald Trump, a policy of "energy dominance" means reducing dependence on imported oil and promoting exports to boost the national economy and Washington's political influence overseas.

Amazon customer helpline not required, says Europe's top court in boost for e-commerce

U.S. online retailer Amazon does not have to provide a helpline phone number to consumers, Europe's top court said on Wednesday in a ruling that could boost e-commerce merchants.