Market Buzz: American consumerism drives Euro and Asian floors

Positive US consumer data drove up European stocks, while Asian shares almost reached a five-year high and the yen made a marked comeback.

May 20, 2013 06:36

BP blasts US judge in fight against compensation claims

Oil giant BP has petitioned a US court regarding the company’s payouts stemming from its 2010 Deepwater Horizon spill in the Gulf of Mexico, accusing a judge of allowing “absurd” compensation claims and a “raid on its coffers.”

May 16, 2013 23:32

Market Buzz: Japan’s GDP wows and gold hits 9-yr low

Despite other emerging markets performing well, Russian markets hit their lowest close in two weeks. Rosneft fell and the ruble weakened against the dollar on the decision of Bank of Russia to hold the refinancing rate at 8.25 percent.

May 16, 2013 05:34

Market Buzz: Record low yen and record high Nikkei to dictate floors

Russian markets declined for the fourth day in New York as oil slid and the Finance Ministry announced the Kremlin is considering a plan to hike up taxes on crude output.

May 15, 2013 05:25

US shale oil boom will make OPEC voice smaller in energy market- IEA

The quick progress of the 'shale revolution’ in the US is set to reshape the world energy market by 2018, when OPEC becomes less influential and developing countries drive global demand.

May 14, 2013 12:44

Market Buzz: Awaiting US import and eurozone industrial data

Russian markets declined the most in two weeks as crude oil, which accounts for about half of export revenue, retreated on decreased output.

May 14, 2013 07:00