World Mar 19, 2020

Iraq faces calamity as oil prices crash amid protests and coronavirus crisis

Between plummeting oil prices, political deadlock and reduced global appetite for a bailout, Iraq is on the cusp of financial calamity that could force austerity measures and renew anti-government protests. But officials appear remarkably optimistic, a view that experts described as being "in denial" given ...

Markets plunge as intervention fails to staunch coronavirus panic

Business Mar 17, 2020

Markets plunge as intervention fails to staunch coronavirus panic

Stock markets and oil prices went into freefall Monday as interest rate cuts and fresh stimulus measures by central banks failed to dampen fears amid the global coronavirus pandemic. The U.S. Federal Reserve on Sunday slashed borrowing costs to zero — its second emergency cut ...

Collapse of OPEC talks blows hole in Russian-Saudi alliance

Business Mar 7, 2020

Collapse of OPEC talks blows hole in Russian-Saudi alliance

OPEC talks with Russia have ended in dramatic failure, auguring the end of a diplomatic alliance between Riyadh and Moscow that has underpinned crude prices and changed the balance of power in the Middle East. Brent crude, the global benchmark, plunged the most in more ...

Trump's biofuel plan sparks anger in farm country

Business Mar 7, 2020

Trump's biofuel plan sparks anger in farm country

President Donald Trump's decision to defend the U.S. government's power to broadly exempt oil refineries from biofuel-blending requirements is triggering a backlash in Iowa and other states that are top producers of ethanol and the corn used to make it. Nine biofuel and agriculture advocacy ...

Machine lubricants leave bad taste for palm oil producers and buyers

Business Feb 20, 2020

Machine lubricants leave bad taste for palm oil producers and buyers

The palm oil industry, long accused of large-scale deforestation, is bracing for another hit to its business: machinery lubricants seeping into the world's most consumed edible oil during processing. European food companies, including Nestle, have in recent months asked top palm oil producers in Indonesia ...