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Oil erases losses as impact of Trump tweet on price fizzles

Oil erases losses as impact of Trump tweet on price fizzles

Oil erased losses in New York after the initial reaction to US President Donald Trump’s tweet on “artificially Very High” prices fizzled.

Asia’s second-hand jet market soars

Asia’s second-hand jet market soars

Asia’s super-wealthy are increasingly opting for second-hand private jets rather than buying new ones, as private buyers look for deep discounts and shorter waiting times, aircraft brokers said.

China banks extend $302bn in new property loans in Q1

China banks extend $302bn in new property loans in Q1

Chinese banks extended 1.9tn yuan ($302bn) in new property loans in the first quarter of 2018, reflecting still solid demand for housing even as curbs on speculation continue to bite, central bank data showed yesterday.

US fines Wells Fargo $1bn for mortgage, auto loan violations

US fines Wells Fargo $1bn for mortgage, auto loan violations

Wells Fargo will pay $1bn in fines to address deficiencies identified by regulators in its mortgage and auto loan businesses, US officials said yesterday.

Pound slides as rate hike prospect dims

Pound slides as rate hike prospect dims

The pound fell yesterday after Bank of England governor Mark Carney shook the market’s confidence in an early interest rate hike, dealers said.

Puerto Rico board sees route to recovery; residents have doubts

Puerto Rico board sees route to recovery; residents have doubts

On Wednesday, the second blackout in a week hit Puerto Rico as the decrepit power system went out again.

GM Korea delays vote on bankruptcy protection

GM Korea delays vote on bankruptcy protection

General Motors’ South Korean unit delayed a decision to file for bankruptcy protection until Monday afternoon, after the automaker failed to reach a wage deal with its labour union in time to meet a yesterday deadline.

Australia’s IAG to sell SE Asia businesses in regional retreat

Australia’s IAG to sell SE Asia businesses in regional retreat

Insurance Australia Group is set to sell its four Southeast Asian businesses in deals that could be valued at about $500mn, under a review of its Asian operations, three people with knowledge of the matter said.

Pakistan to launch National Savings Bond in Gulf states

Pakistan to launch National Savings Bond in Gulf states

In a bid to attract dollar investment from millions of overseas Pakistanis, the government has sought applications for selection of lead managers in order to launch offshore retail bond for obtaining $1bn investment from Gulf countries including Saudi Arabia, UAE, Qatar and others.

Deutsche Bank’s Hammonds leaves as key exits continue

Deutsche Bank’s Hammonds leaves as key exits continue

The chaotic shakeup at Deutsche Bank AG sent more aftershocks through the bank’s top ranks as its chief operating officer was ousted and its head of investor relations quit.

Russia is all set to grab economic foothold in reluctant EU member

Russia is all set to grab economic foothold in reluctant EU member

Two Russian banks are on the verge of taking a substantial equity stake of Croatia’s biggest retailer, expanding Moscow’s reach in a corner of the European Union that has for years tried to fend off Russian investment.

GE profit tops estimates as cost-cutting kicks in

GE profit tops estimates as cost-cutting kicks in

General Electric Co posted quarterly results that topped expectations yesterday, as earnings from aviation, healthcare and transportation offset weak power and oil-and-gas profits, sending shares sharply higher.

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