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October 18, 2019
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Reuters - Business

Opioid settlement talks falter, landmark trial expected Monday: attorney

Reuters
CLEVELAND (Reuters) – A landmark trial stemming from the U.S. opioid epidemic is expected to begin on Monday after last-ditch talks to strike a multibillion-dollar settlement faltered on Friday, according to an attorney for local governments. A view of the statue standing in front of the U.S. District Courthouse in...
Reuters - Business

Oil falls as China economic concerns outweigh rising refinery runs

Reuters
NEW YORK (Reuters) – Oil prices edged lower on Friday, as concerns about China’s economy outweighed bullish signals from its refining sector, but losses were limited on hopes for progress toward a U.S.-China trade agreement. FILE PHOTO: Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang province,...
CBS US News

Trump claims Kurds are “very happy about the way things are going,” a day after Turkey ceasefire announcement

CBS News
President Trump insisted Friday that Kurdish allies who were being forced from northern Syria to avoid slaughter are “very happy about the way things are going,” describing the already breached ceasefire brokered with Turkey like a business deal. Mr. Trump made the comments at the White House a day after...
Reuters - Business

Opioid litigation talks can ‘get a long way’ to deal: lawyer

Reuters
FILE PHOTO: The logo of Teva Pharmaceutical Industries is seen during a news conference hold by its CEO, Kare Schultz, to discuss the company’s 2019 outlooks in Tel Aviv, Israel February 19, 2019. REUTERS/Amir Cohen CLEVELAND (Reuters) – Executives from several large healthcare companies and state attorneys general were progressing...
Reuters - Business

Exclusive: Aramco makes relatively little from foreign refining – documents

Reuters
LONDON (Reuters) – Documents from Saudi Aramco show that the world’s largest oil firm earns only a limited proportion of its profit from foreign refining ventures, an area in which the company plans huge investment. FILE PHOTO: A helmet with logo of Saudi Aramco is pictured at the oil facility...
Reuters - Business

Take Five: Super Saturday, Super Mario

Reuters
(Reuters) – 1/BEGINNING OF THE END OR… FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 12, 2019. REUTERS/Brendan McDermid Britain may be about to draw a line under almost 3-1/2 years of political chaos, economic uncertainty and tortuous discussions...
Reuters - Business

Judge’s unorthodox approach has huge opioid settlement within reach

Reuters
(Reuters) – From the start of the sprawling U.S. litigation seeking to hold drugmakers and distributors liable for the country’s opioid epidemic, Judge Dan Polster has made one thing clear: he never wanted a trial. FILE PHOTO: Federal Judge Dan A. Polster, of the U.S. District Court’s Northern District of...
Reuters - Business

Oil ticks up as rising crude stocks are offset by products demand

Reuters
LONDON (Reuters) – Oil prices rose slightly on Friday as concern over an economic slowdown in China, the world’s biggest oil consumer, was countered by bullish signals from both the Chinese and U.S. refining sectors. FILE PHOTO: Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang province,...
Reuters - Business

Oil ebbs as China’s slowest GDP growth in almost three decades stokes demand fears

Reuters
SEOUL (Reuters) – Oil prices slid on Friday on jitters over demand from China after the world’s largest oil importer recorded its weakest quarter of economic growth in nearly three decades, dragged down by a trade dispute with the United States. FILE PHOTO: Pumpjacks are seen during sunset at the...
Reuters - Business

Oil prices steady, all eyes on data seen showing China GDP growth slowdown

Reuters
SEOUL (Reuters) – Oil prices were stable on Friday ahead of data that analysts say could show China, the world’s largest oil consumer, just recorded its weakest quarter of economic growth in nearly three decades, dragged down by a trade dispute with the United States. FILE PHOTO: Pumpjacks are seen...
Reuters - Business

Judge summons drug company CEOs to discuss opioid settlement: source

Reuters
(Reuters) – The chief executives of the three largest U.S. drug distributors and a drugmaker have been summoned to appear before a federal judge to discuss a proposal to resolve thousands of lawsuits alleging they fueled the U.S. opioid crisis, a person familiar with the matter said on Thursday. FILE...
Reuters - Business

Boeing 777X delays may affect Emirates fleet plans – Clark

Reuters
LONDON (Reuters) – Delivery delays to Boeing’s (BA.N) 777X jetliner are holding back Emirates’ growth and could partially affect the Gulf carrier’s broader fleet requirements, airline President Tim Clark said on Thursday. FILE PHOTO: The signature folding wingtip of a 777X aircraft is seen during a media tour of the...
Reuters - Business

Saudi Aramco delays planned IPO: FT

Reuters
FILE PHOTO: A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo (Reuters) – Saudi Aramco has delayed the planned launch of its initial public offering (IPO), the Financial Times reported on Thursday, citing three people familiar with the...
Reuters - Business

Oil prices fall on signs of large U.S. stock build

Reuters
SINGAPORE (Reuters) – Oil prices eased on Thursday after industry data showed a larger-than-expected build-up in stocks in the United States, although losses were limited by comments by U.S. Treasury Secretary Steven Mnuchin on a U.S.-China trade deal. FILE PHOTO: Pumpjacks are seen during sunset at the Daqing oil field...
Reuters - Business

Drug firms offer to settle U.S. opioid suits with $50 billion package – sources

Reuters
(Reuters) – Five drugmakers and distributors are offering $22 billion in cash as well as drugs and services they value at $28 billion to resolve lawsuits alleging the industry helped fuel the U.S. opioid crisis, two sources familiar with the matter told Reuters on Wednesday. FILE PHOTO: The logo of...
Reuters - Business

U.S., Chinese teams working on Phase 1 trade deal text: Mnuchin

Reuters
U.S. Treasury Secretary Steve Mnuchin speaks about sanctions against Turkey at a news briefing at the White House in Washington, U.S., October 11, 2019. REUTERS/Yuri Gripas WASHINGTON (Reuters) – U.S. and Chinese trade negotiators are working on nailing down a Phase 1 trade deal text for their presidents to sign...
Reuters - Business

Oil rises on hopes OPEC will extend supply cuts, weaker U.S. dollar

Reuters
HOUSTON (Reuters) – Oil rose on Wednesday, gaining support due to signs that OPEC and allied producers will continue to curb supplies in December, a weaker U.S. dollar and as traders covered short positions ahead of an industry report on U.S. crude inventories. FILE PHOTO: The sun sets behind an...
Reuters - Business

Teva to donate over $15 billion worth of drugs in opioid settlement: source

Reuters
FILE PHOTO: The logo of Teva Pharmaceutical Industries is seen during a news conference hold by its CEO, Kare Schultz, to discuss the company’s 2019 outlooks in Tel Aviv, Israel February 19, 2019. REUTERS/Amir Cohen (Reuters) – Teva Pharmaceuticals (TEVA.N) is in talks to contribute over $15 billion worth of...
Reuters - Business

Oil rises on hopes OPEC will extend supply cuts

Reuters
HOUSTON (Reuters) – Oil rose above $59 a barrel on Wednesday, gaining support due to signs that OPEC and allied producers will make further curbs to oil supply in December, and as traders covered short positions ahead of an industry report on U.S. crude inventories. FILE PHOTO: The sun sets...

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