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27-01-2012 18:28:54

Today's News

Chevron struggling to produce more oil

Chevron Corp, which has spent more than $20 billion ($A18.7 billion) a year since 2007 scouring the globe for new resources, says it is struggling to produce more oil and natural gas. Production levels ...

UPDATE 10-Brent up on Iran; refinery work lifts U.S. gasoline

* Iran parliament to consider halting exports to EU * Bayway shut refinery unit lifts U.S. gasoline * U.S. GDP data below expectations * Coming up: U.S. Feb oil products contracts expiry Tuesday (Adds ...

PRECIOUS-Gold rises for third day after soft U.S. GDP data

* Lower-than-expected GDP data boosts safe-haven buying * Gold up for biggest weekly gain in three months * Breaks above resistance, 100 DMA boosts technical buying * Silver set for 20 pct rise in January, ...

Brent crude up as Iran warns supply halt to Europe

NEW YORK, Jan 27 (Reuters) - Brent crude oil futuresended higher for a second straight day on Friday on supplydisruption fears as Iran warned it may halt oil exports toEurope as early as next week in response ...

U.S. crude ends lower on GDP data, eyes Iran

NEW YORK, Jan 27 (Reuters) - U.S. crude futures ended lower Fridayafter erasing early gains as lower-than-expected U.S. GDP data for the fourthquarter of 2011 turned oil investors cautious, though losses ...

U.S. gasoline futures rally, hit near 5-month high

NEW YORK, Jan 27 (Reuters) - U.S. gasoline futures shot up to nearfive-month highs on Friday in the wake of problems at the Bayway refinery inLinden, New Jersey, adding to supply worries after other refinery ...

Brent crude extends rise to more than $1

NEW YORK, Jan 27 (Reuters) - Brent crude oil extendedgains to more than $1 a barrel on Friday as the possibility thatIran's parliament may vote on Sunday to halt exports to theEuropean Union kept fears ...

Finance chiefs reassure Europe on track

Leading finance chiefs have sought to reassure anxious global business leaders that Europe is on track to solve its crippling debt crisis before it drags the world's economies down.The finance chiefs ...

'We care about every worker': Apple CEO

Apple chief executive Tim Cook has responded to media reports alleging harsh working conditions in China for manufacturing employees of the popular gadget-maker.Cook, who took over as chief executive from ...

US economy grows 2.8pc

The US economy grew at a 2.8 per cent annual rate in the final three months of last year, its fastest growth in 2011.Americans spent more on cars and trucks, and companies built up their stockpiles. But ...

U.S. crude turns lower after Q4 GDP below forecast

NEW YORK, Jan 27 (Reuters) - U.S. crude futures turnedlower on Friday after a report showed a lower-than-expectedreading of fourth-quarter growth in the United States. U.S. crude was down 10 cents at $99.60 ...

Brent, U.S. crude pare gains after U.S. Q4 GDP data

NEW YORK, Jan 27 (Reuters) - Brent and U.S. crudefutures pared gains on Friday after data showed the U.S. economygrew, but at a slower pace than had been forecast, pulling oilprices back after they had ...

Facebook may file for IPO next week: WSJ

Facebook may file papers for an initial public offering next week that would value the social network at up to $100 billion, The Wall Street Journal reported Friday.The newspaper, citing people familiar ...

Europe chiefs focus on positives at Davos

Europe's financial chiefs have tried to soothe the fears of global chief executives and other political leaders, insisting they have a handle on the eurozone's troubles.European Monetary Affairs ...

Fitch cuts rating of five eurozone countries

Rating agency Fitch on Friday downgraded five eurozone countries, including Italy and Spain, citing their vulnerability to sharp turns in market sentiment amid Europe's debt crisis.Fitch cut credit ...

Former Palm CEO Jon Rubinstein leaves HP

Former Palm chief executive Jon Rubinstein has left Hewlett-Packard, less than two years after Palm was acquired by the computer giant."Jon has fulfilled his commitment to HP," a company spokesman ...

NWS structure likely for Woodside's Browse

Woodside Petroleum is likely to replicate the ownership structure of its North West Shelf (NWS) operations at the planned Browse project although it may exclude Shell, an analyst says.Fat Prophets industrial ...

Greece makes progess in debt writedown talks

Greece reached "important understandings" on a major debt writedown to escape a looming default and stem further turmoil in the eurozone, private creditors said after holding fresh talks with ...

UniCredit capital increase declared a success

A key capital increase by the Italian bank UniCredit was declared a success on Friday, with investors snapping up 99.8 percent of the new shares on offer.UniCredit said it raised 7.48 billion euros ($10 ...

US economy picked up modestly in 4th quarter

The US economy picked up speed in the fourth quarter, fresh data showed Friday, but it appeared to be still struggling to click into second gear as investment and consumer spending remained weak.The economy ...

ECB chief, Geithner fuel hopes of taming eurozone crisis

European Central Bank president Mario Draghi said Friday the eurozone had made "outstanding" progress towards resolving its debt crisis as hopes grew for an imminent deal on Greece's debt ...

Greece a 'step away' from debt deal: minister

Greece said Friday that it was "a step away" from a major debt writedown as it resumed talks with private creditors to escape a looming default and stem further turmoil in the eurozone.Charles ...

CORRECTED-UPDATE 2-Brent steady above $110 on demand growth hopes, Iran

(Corrects weekly change for Brent crude in third paragraph) * Asian stocks pause after rallying on Fed, gold up * EU will lose, rather than Iran, from sanctions -Ahmadinejad * Brent to revisit low of $108.91/bbl ...

Ford stuck in Europe as North America drives profits

Ford reported a surge in profits Friday as a strong performance by the US automaker's once-troubled North American unit and a massive one-time tax gain offset losses in Europe and Asia.Investors were ...

PRECIOUS-Gold dips after rally; heads for 4th week of gains

* Gold due for a correction-technicals * Coming Up: U.S. GDP Q4; 1330 GMT (Updates prices, adds quotes) By Lewa Pardomuan SINGAPORE, Jan 27 (Reuters) - Gold fell from a 7-weekhigh on Friday as speculators ...

$A retreats from three-month high

The Australian dollar dropped slightly from a three-month high after a reassessment of global economic prospects by the currency market.The local currency traded as high as 106.86 US cents early on Friday ...


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