Citigroup: time to write OPEC’s obituary?

How times have changed. Not that long ago, it used to be that oil traders and energy giants hung on OPEC’s every word. Now we have Citigroup’s global head of commodities research asking if it’s time to write the group’s obituary. Citi’s Ed Morse is out with an opinion piece asking whether OPEC’s power is essentially gone. The discussion […]

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Wall Street wobbles as traders eye yields

U.S. stocks closed narrowly mixed as investors eyed recovery in bond yields and economic indicators that could shed light on the timing of a rate hike, amid continued Greece debt negotiations. (Tweet This) “We’re watching the 10-year yield as if it’s a textbook, moving higher on economic data,” said Quincy Krosby, market strategist at Prudential […]

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Deutsche Bank appoints new CEO in latest post-crisis shakeup

By Thomas Atkins and Edward Taylor FRANKFURT (Reuters) – Germany’s largest lender Deutsche Bank purged its leadership on Sunday, appointing Briton John Cryan as chief executive to replace Anshu Jain just two weeks after Jain was given more power to reorganise the bank. Deutsche Bank has struggled to restore an image tarnished by a raft […]

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Steady OPEC, firm demand will send oil to $60-$80 range: Energy investor

The great global oil glut of 2014 and 2015 is ending, and a stronger world economy will stoke demand to lift crude prices a bit, benefiting leading producers and their investors. That’s the position of Rob Thummel, portfolio manager at energy-focused investment firm Tortoise Capital Advisors, who expects crude to advance toward a new trading […]

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Attack of the doves? Low rates may be harming the middle class

There was certainly a time and place for it: Most economists credit the Federal Reserve’s super-low interest rate policy, in effect since 2008, with reviving shell-shocked financial markets and breathing life back into the economy. But nearly seven years on, aggressive monetary stimulus may now be hurting those it’s meant to help. Fed critics have […]

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OPEC’s front lines in the shale fields and Wall Street

Oil bulls pinning their hopes on tumbleweeds in East Texas may now be peering further south. The argument for oil rebounding after last year’s crash rests largely on cash flow-constrained shale drillers in Texas and other states downing tools. The roughly 30% rally since mid-March in front-month oil futures, to almost $60 a barrel, has […]

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Strong sales could shift Ford, GM to higher gear

By Ryan Vlastelica and Sinead Carew NEW YORK (Reuters) – Shares of U.S. automakers may finally be able to accelerate. Investors are closely awaiting next week’s May sales data, expected to come in near record levels. Meeting those forecasts could be enough to lift the sector – among the cheapest in the market – putting […]

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Google’s Sundar Pichai gives Yahoo Finance a sneak peek at new products

Imagine if your job was to create and manage products that billions of people count on to work perfectly every single day. Sound like a pressure cooker? Well, welcome to the world of Sundar Pichai, the man who runs Google’s core businesses including search, Gmail, Android, and is responsible for the great bulk of Google’s […]

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U.S. stocks slide most in three weeks as dollar rallies

By Tanya Agrawal (Reuters) – U.S. stocks were recording their steepest fall in three weeks in midday trading on Tuesday, as a host of positive economic data increased the likelihood of a rate hike in the near term and sent the dollar soaring. The dollar was hovering at a one-month peak against a basket of […]

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Yellen tone suggests choppiness for markets ahead

By Ryan Vlastelica NEW YORK (Reuters) – U.S. stock investors have been enjoying an extended period of low volatility and steady gains, but with the Federal Reserve on track to raise interest rates this year and major indexes near records, the market could get a bit choppier in coming weeks. Fed Chair Janet Yellen on […]

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