Daily brief: Global markets break down, oil prices fall

February 2, 2017 10:16 am

Bundles of bound newspapers. (Image: Alamy)

Financial asset prices are moving in step less than at any time in more than a decade as political risks grow globally. Here are the top seven business stories you need to know today.

 

US judge orders Trump administration to allow entry to immigrant visa holders

A federal judge in Los Angeles has ruled President Donald Trump’s administration must allow immigrants with initial clearance for legal residency to enter the United States from seven Muslim-majority nations, despite an executive order ban.

 

(President Trump’s first 10 days: 5 shocking decisions that rocked the world)

 

Global markets caught in a correlation breakdown

Financial asset prices are moving in step less than at any time in more than a decade, as economic and monetary policies diverge and political risks grow around the world.

 

Oil prices fall after sharp rise in US stockpiles

Oil prices fell on Thursday after official data showed U.S. crude and gasoline stockpiles rose sharply, although signs that OPEC and other producers are holding the line on output cuts are helping support prices.

(OPEC achieves 82 per cent of pledged oil output cut in January)

 

Trump adopts aggressive posture toward Iran after missile launch

The White House put Iran “on notice” on Wednesday for test-firing a ballistic missile and said it was reviewing how to respond, taking an aggressive posture toward Tehran that could raise tensions in the region.

 

Facebook’s quarterly revenue surges 50.8%

Facebook Inc’s quarterly revenue surged 50.8 per cent as the world’s largest social network continues to benefit from its aggressive push into mobiles and video.

 

VW, Robert Bosch agree to pay $1.55 billion to settle US diesel claims

Volkswagen AG has agreed to pay at least $1.22 billion to fix or buy back nearly 80,000 polluting US 3.0 litre diesel-engine vehicles to settle claims it fitted illegal emissions-cheating software to the cars, court documents showed.

Trump to focus counter-extremism programme solely on Islam -sources

The Trump administration wants to revamp and rename a US government programme designed to counter all violent ideologies so that it focuses solely on Islamist extremism, five people briefed on the matter told Reuters.

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AMEinfo Staff
By AMEinfo Staff
AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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