How Latin America Plans to Dominate the Global Oil Market - Bloomberg:
Latin America has the possibility of becoming a dominant player in the global oil market. No doubt the region has many resources, with countries such as India, Saudi Arabia and China taking notice of the opportunities there. Bloomberg's Alix Steel dives deep into South America's oil prospects to uncover the opportunities for homegrown companies, international oil giants and investor appetite. (Source: Bloomberg)
Saturday, 7 September 2019
Oil Posts Biggest Weekly Gain Since July on U.S. Fed Reassurance - Bloomberg
Oil Posts Biggest Weekly Gain Since July on U.S. Fed Reassurance - Bloomberg:
Oil posted the biggest weekly gain since July as Federal Reserve Chairman Jerome Powell sought to calm fears of a possible recession following a lackluster jobs report that was seen as dimming the demand outlook.
Futures in New York rose 0.4% Friday, erasing earlier losses. Powell said the most likely outlook for the U.S. and world economy is continued moderate growth, but the central bank was monitoring “significant risks.” The market also drew support from a U.S. report that showed the rig count had declined for the third week, implying a slowdown in domestic oil production.
“The oil market and equities market are reacting positively to remarks by Powell that the Fed is not expecting or forecasting a recession,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston.
Oil posted the biggest weekly gain since July as Federal Reserve Chairman Jerome Powell sought to calm fears of a possible recession following a lackluster jobs report that was seen as dimming the demand outlook.
Futures in New York rose 0.4% Friday, erasing earlier losses. Powell said the most likely outlook for the U.S. and world economy is continued moderate growth, but the central bank was monitoring “significant risks.” The market also drew support from a U.S. report that showed the rig count had declined for the third week, implying a slowdown in domestic oil production.
“The oil market and equities market are reacting positively to remarks by Powell that the Fed is not expecting or forecasting a recession,” said Andy Lipow, president of Lipow Oil Associates LLC in Houston.
Deutsche regulators examine supervisory board member for conflict of interests: sources - Reuters
Deutsche regulators examine supervisory board member for conflict of interests: sources - Reuters:
Deutsche Bank’s (DBKGn.DE) regulators are examining whether a new supervisory board member, former UBS (UBSG.S) manager Juerg Zeltner, is suitable for the job, according to two people familiar with the matter.
Regulators are looking at whether Zeltner’s position on Deutsche’s board would be a conflict of interest because he is also the chief executive officer of KBL European Private Bankers (KBL epb), a business that overlaps with Deutsche’s.
Zeltner, appointed to Deutsche’s board in August, will represent the interests of Qatar’s royal family - a top shareholder in the German lender. KBL is also controlled by the same family.
Deutsche Bank’s (DBKGn.DE) regulators are examining whether a new supervisory board member, former UBS (UBSG.S) manager Juerg Zeltner, is suitable for the job, according to two people familiar with the matter.
Regulators are looking at whether Zeltner’s position on Deutsche’s board would be a conflict of interest because he is also the chief executive officer of KBL European Private Bankers (KBL epb), a business that overlaps with Deutsche’s.
Zeltner, appointed to Deutsche’s board in August, will represent the interests of Qatar’s royal family - a top shareholder in the German lender. KBL is also controlled by the same family.
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