OPEC trims 2020 oil demand, sees doubts about 2021 on virus fallout - Reuters
LONDON (Reuters) - World oil demand will fall more steeply in 2020 than previously forecast due to the coronavirus and there are doubts about next year’s recovery, OPEC forecast on Wednesday, potentially making it harder for the group and its allies to support the market.
World oil demand will
U.S. consumer prices push higher; high unemployment likely to keep lid on inflation - Reuters
WASHINGTON (Reuters) - U.S. consumer prices rose more than expected in July, with a measure of underlying inflation increasing by the most in 29-1/2 years amid broad gains in the costs of goods and services.
The report from the Labor Department on Wednesday, however, probably does not
CORRECTED-TREASURIES-Yields jump to one-month high before record 10-year sale - Reuters
(Corrects day in first paragraph to Wednesday) By Karen Brettell NEW YORK, Aug 12 (Reuters) - U.S. Treasury yields jumped toone-month highs on Wednesday before the Treasury will sell arecord amount of 10-year notes, and after data showed alarger-than-expected increase in consumer prices in July. The Treasury last week increased auction sizes across thecurve and said that it plans to continue to shift more of itsfunding to longer-dated debt in coming quarters as
Swiss to allow events of 1,000-plus people from October 1 - Reuters
ZURICH (Reuters) - Switzerland will allow events of more than 1,000 people from Oct. 1, provided organizers follow hygiene measures to prevent the spread of the new coronavirus, the government decided on Wednesday.
Permission from local authorities will also be required for
Insurgents seize Mozambique port in gas-rich region, local media say - Reuters Africa
MAPUTO, Aug 12 (Reuters) - Islamist insurgents have captured a heavily-defended port in the far northern Mozambique town of Mocimboa da Praia, close to the site of natural gas projects worth some $60 billion, local media reported on Wednesday.
It was one of several attacks on the town - 60 km (37 miles) south of the projects being developed by oil majors like France’s Total - this year as insurgents with links to Islamic State have stepped up attacks in the region.
Thousands stage flower protest in Belarus as EU weighs sanctions - Reuters
MINSK (Reuters) - Protesters formed human chains and marched through the streets of Belarus carrying flowers on Wednesday in anger at a crackdown by strongman President Alexander Lukashenko that has prompted the European Union to consider new sanctions against Minsk.
Security forces have clashed with protesters for three consecutive nights after Lukashenko claimed a landslide re-election victory in
Canada's CAE in talks with airlines to win more pilot training business - Reuters Canada
(Reuters) - CAE Inc ( CAE.TO ) said on Wednesday it is in advanced discussions with airlines about doing more training of their pilots after the company reported a bigger than expected quarterly loss due to COVID-19.
The world’s largest civil aviation training company is cutting costs and counting on the easing of travel restrictions to bolster demand for pilot-training services.
Revenues from civil training, CAE’s largest business unit,
dropped due to travel restrictions and lower customer demand during the quarter ended June
Microsoft prices its dual-screen Android phone at $1,399, will arrive Sept 10 - Reuters
(Reuters) - Microsoft Corp on Wednesday said the Surface Duo, its dual-screen smartphone powered by Alphabet Inc’s Android operating system, will start at a price of $1,399 and arrive in stores beginning Sept. 10.
Tesla woos retail investors with stock split, shares rise - Reuters
(Reuters) - Wall Street analysts praised Tesla Inc’s ( TSLA.O ) move to split its richly valued stock into smaller chunks, saying it had the potential to extend a 200% rally in its shares this year by making it easier for retail investors to hold the stock.
Shares in the electric carmaker
Billionaire Sumner Redstone, media mogul who headed Viacom, dead at 97 - Reuters
NEW YORK (Reuters) - Viacom and CBS Chairman Emeritus Sumner Redstone, the media mogul who took his father’s movie theater chain and built it into an empire that included Paramount Pictures, CBS and MTV, has died at 97, ViacomCBS and National Amusements said on Wednesday.
Redstone, as executive chairman of both Viacom Inc VIA.O and CBS Corp CBS.N, had controlled the two companies through privately held National Amusements. But in his early 90s, the state of Redstone’s physical