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Markets

The United States added another 6.5 million barrels to its stockpiles last week, sending crude oil prices tumbling despite concerns about relations with Saudi Arabia. The Iranian official, in turn, said the Islamic Republic expects South Korea as one of its key business partners to continue its operation in Iran in the situation created by the United States sanctions.
  • Petrol, diesel prices cut by Rs 2.50 after excise reduction

    Petrol, diesel prices cut by Rs 2.50 after excise reduction

    Markets

    This came after Jaitley asked states to further cut prices on their level by Rs 2.50 per litre so that consumers can get a relief amounting to Rs 5 per litre. When the petrol price is about to cross Rs 92 per litre, the government has reduced Rs 5 per litre. Of this, IOC's share would be roughly half and the rest split equally between HPCL and BPCL.
  • Oil rises to 2014 highs on Iran sanctions, Nafta deal

    Oil rises to 2014 highs on Iran sanctions, Nafta deal

    Markets

    Worldwide benchmark Brent crude traded at around $83.01 on Monday, up around 0.34 percent, while US West Texas Intermediate (WTI) stood at around $73.42, more than 0.2 percent higher. Oil in London extended gains after the longest quarterly rally in a decade as a slowdown in American drilling added to supply risks while the U.S.
  • Elon Musk Settles With SEC, Quits As Tesla Chairman

    Elon Musk Settles With SEC, Quits As Tesla Chairman

    Markets

    Lawyers said the settlement and size of the fine might give more ammunition to short-sellers pursuing separate cases against Musk for manipulating company shares through the August 7 tweet, as well as to a probe by the Justice Department.
  • Tesla Shares Rise After SEC Lawsuit Leaves Musk as CEO

    Tesla Shares Rise After SEC Lawsuit Leaves Musk as CEO

    Markets

    As part of the settlement , the company will appoint a new independent chairman, two independent directors and control Musk's communications. Musk's "funding secured" tweets were made on 7 August, and claimed that he was planning to take the company private at a price of $420 per share - a premium of just over 20 per cent of the company's stock price (which has since nose-dived) at the time.
  • Trump Rejected PM Trudeau Meeting over Refusal to Negotiate Canadian Dairy Tariffs

    Trump Rejected PM Trudeau Meeting over Refusal to Negotiate Canadian Dairy Tariffs

    Markets

    Mexican government spokesman Eduardo Sanchez said on Twitter late on Tuesday that Mexican President Enrique Pena Nieto and Canadian Prime Minister Justin Trudeau, held a bilateral meeting on the sidelines of the U.N. has to "keep companies", but Mexico is also getting a lot in the new U.S. -Mexico trade deal. "We're very unhappy with the negotiations and the negotiating style of Canada", Trump said.