Oil fell on Thursday as the International Energy Agency trimmed its forecast for demand growth and on signs that a producers’ meeting this weekend will not yield a concrete plan to reduce oversupply. The International Energy Agency slightly trimmed its estimates for 2016 global demand growth from last month to ... Read More »
BlackRock Inc (BLK.N), the world’s largest asset manager, posted a 20 percent drop in first-quarter profit amid a dramatic reversal in financial markets. The New York-based company’s net income fell to $657 million, or $3.92 per share, in the three months ended March 31, from $822 million, or $4.84 per ... Read More »
World stocks rose to their highest level in more than four months on Thursday and the dollar had a third day of gains as markets took a positive view ahead of top policymaker and oil producer meetings. Singapore set the tone for the IMF’s spring meeting as its normally conservative ... Read More »
Bank of America Corp, the No. 2 U.S. bank by assets, reported an 18 percent slide in quarterly profit as concerns about a global economic slowdown and uncertainty about the pace of U.S. interest rate increases dampened bond and stock trading. Net income attributable to common shareholders fell to $2.22 ... Read More »
PERTH, Australia, April 12 —Taking a long view on the global market, Russian energy company Gazprom said it selected St. Petersburg as the 2022 host of a liquefied natural gas summit. Billed as the largest global event for the LNG sector, Gazprom said it was taking advantage of its leadership ... Read More »
NEW YORK, April 12 — A strike deadline of Wednesday was announced by two unions representing about 40,000 Verizon employees seeking improved pensions and an end to outsourcing of jobs. The workers, largely in landline and Internet services on the East Coast, have beenwithout a contract since August 2015. They ... Read More »
WASHINGTON, April 12 — A high level of supplies on the U.S. market helped push retail gasoline prices lower despite a rally in crude oil prices, motor club AAA reported. AAA reports a national average retail price for a gallon of regular unleaded gasoline at $2.05 per gallon, a slight ... Read More »
NEW YORK, April 12 —Anticipation over a weekend meeting in Doha on a possible oil production freeze overshadowed a subdued IMF report, giving oil prices a lift early Tuesday. Russian Energy Minister Alexander Novak said he was “optimistic” that major producers gathering for a weekend meeting in Doha would hold ... Read More »
WASHINGTON, April 12 —Sikorsky Aircraft, now a division of Lockheed Martin, has received a U.S. Army contract to build seven specialized variants of its UH-60M Black Hawk combat helicopter for the Mexican military. The $54 million contract, through the U.S. Foreign Military Sales program, will cover the construction and modification ... Read More »
MOSCOW, April 12 — Russian Helicopters Holding Company says it is equipping five models of its military aircraft with a new on-board system to defend against MANPAD missiles and air-to-air missiles. The defensive system is called President-S, which features a laser illumination detector, an ultraviolet missile approach warning system, an ... Read More »
WASHINGTON, April 12 —Defense aviation firm Pratt & Witney have landed a $1.03 billion deal to build a slate of new propulsion systems for the U.S. and international variants of the F-35 Lighting II fighter jet. Under the terms of the deal, a modification to a previous procurement pact reached ... Read More »
PATUXENT RIVER, Md., April 12 —A new electronic jamming device for U.S. Navy EA-18G Growler aircraft has won Department of Defense approval for Engineering & Manufacturing Development. The system — Next Generation Jammer Increment 1 — gained Milestone Decision Authority approval after Raytheon’s development plans were judged as meeting the ... Read More »
