Obama formally opens U.S. diplomatic ties with Cuba


© Reuters. U.S. President Barack Obama speaks after signing the Defending Public Safety Employees’ Retirement Act and Trade Preference Extension Act of 2015 during ceremony at White House in Washington WASHINGTON (Reuters) – President Barack Obama said on Wednesday the United States has agreed to the historic step of re-establishing diplomatic relations with Cuba, and will raise its flag over ...

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Gold prices ease in Asia as markets await next act in Greece drama


© Reuters. Gold prices down as markets eye Greece – Gold prices eased in Asia on Wednesday as investors await more clarity on Greece after it formally missed a payment on its sovereign debt, but also sought more time. Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), made the following statement today regarding Greece’s financial ...

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New oil bull market in sight as Brazil, Iraq cut output targets


© Reuters. Plants are pictured near an oil pump, owned by oil company Rosneft, in Krasnodar region By Dmitry Zhdannikov LONDON (Reuters) – Massive downward revisions to oil output in Brazil and Iraq have increased the risks for oil markets of going from the current feast to famine within just a few years, leading to a price spike that would ...

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NYMEX crude oil jumps in Asia despite Markit China PMI, API data


© Reuters. NYMEX crude jumps – Crude oil prices reversed course in Asia on Wednesday after manufacturing data from China and despite downbeat U.S. industry data on stockpiles. The final reading of the Markit manufacturing China PMI came in at 49.4, compared to the flash of 49.6 and May’s final 49.2. “The final reading of the HSBC China Manufacturing ...

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Gold prices see-saw in Asia as investors look ahead to Greece

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Gold see-saws in Asia – Gold prices fell see-sawed in Asia on Wednesday as investors eyed a manufacturing survey from China and awaited events in Greece for more direction. The final reading of the Markit manufacturing China PMI came in at 49.4, compared to the flash of 49.6 and May’s final 49.2. “The final reading of the HSBC China ...

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Petrobras history of failed plans raises doubt over new promises


© Reuters. Petroleo Brasileiro SA President Aldemir Bendine gestures as he presents the company’s plan in Rio de Janeiro By Jeb Blount RIO DE JANEIRO (Reuters) – Brazilian state-run oil company Petroleo Brasileiro SA’s long history of failed spending and output plans may be the biggest obstacle to its efforts to convince investors it will reduce its massive debt. The ...

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Oil prices sharply lower after Greece default, bearish data


© Reuters. Oil prices down after Greece default, bearish data – Oil prices were sharply lower on Wednesday after Greece defaulted on a loan repayment to the International Monetary Fund and following bearish overnight supply data. On the New York Mercantile Exchange, for August delivery was last at $58.77 a barrel, down 1.17% for the day. for August delivery, ...

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