Global Markets brief

25 May 05:36 PM US consumer confidence falls in May
The University of Michigan's final data suggested indicated a decrease in the US consumer confidence during May.
25 May 04:48 PM Samsung ordered to pay Apple $539m over patent breach
Samsung was ordered by the US district court in California to pay a total of $539 million to Apple over patent infringements.
25 May 03:53 PM US durable goods orders drop1.7% in April
Demand for the US manufactured durable goods declined in April owing to a decline in contracts for Boeing.
25 May 02:50 PM OPEC, Russia mull oil output increase
Saudi Arabia and Russia are considering the increase of crude output from OPEC and non-OPEC exporters by nearly 1 million bpd.
25 May 01:08 PM Oil slides Friday on Russia’s hints soft output increase
Oil on early Friday dropped on Russia's possible gradual increase of its output after withholding crude production under the supply cut deal with OPEC.
25 May 12:28 PM German Ifo stops declining in May; business morale unchanged
German economy has shown that the slowing trend has ceased in May, according to survey data released by the Ifo institute.
25 May 11:51 AM UK GDP slows to 0.1% in Q1
The UK gross domestic product (GDP) in the first quarter of 2018 increased to 0.1%, according to the second reading.
25 May 11:16 AM More than dozen injured in Canada explosion
More than a dozen people in Canada have been injured after two men detonated an explosive device, the Canadian police said on Friday.
24 May 06:13 PM IMO 2020 emission measures to boost crude prices–analysts warn
IMO said it would enforce new emission control standards on n 1 January 2020, amid worries regarding the oil industries.
24 May 05:02 PM North Korea shuts a nuclear test site
North Korea on Thursday implemented what it described as the demolition of its test nuclear site in the presence of foreign reporters, reports said.
24 May 04:07 PM US unemployment claims rise 11,000 for 2nd week
Mubasher: US unemployment claims increased 11,000 week-on-week to 234,000 claims in the week ended 19 May.
24 May 03:10 PM Uber’s revenue surges 67% in Q1, losses down 49%
Uber reported strong revenues and reduced losses in the first quarter ended March, announcing a new tender offer that values it at nearly $62 billion
24 May 01:57 PM Lenovo incurs $189m loss in FY 17/18
Mubasher: China-based Lenovo Group on Thursday announced turning to loss for the fiscal year (FY) 2017/2018.
24 May 01:39 PM Singapore raises 2018 growth estimates after GDP Q1 rise
Mubasher: Singapore's economy grew faster than initial estimates during the first quarter of 2018.
24 May 01:35 PM Germany's sonnen gets EUR 60m Shell Ventures funding
sonnen announced that it has finalised the latest funding round from a group of investors headed by Shell Ventures
24 May 12:48 PM Volvo to hike XC40 small SUV production in Europe, China
Sweden-based Volvo Car Group has revealed plans to boost the production of its new model XC40 small SUV in China and Europe
24 May 12:28 PM UK retail sales rise 1.6% in April
Retail sales in the UK increased 1.6% month-on-month in April, as all sectors except department stores recovered from the decline in the previous month.
24 May 12:23 PM Deutsche Bank to cut 7,000 jobs to trim costs
Mubasher: Deutsche Bank plans to cut more than 7,000 jobs as part of the lender’s revamp strategy.
24 May 12:06 PM Comcast mulls better bid than Disney for Fox media assets
Mubasher: Comcast Corporation has announced that it is seriously seeking to acquire Twenty-First Century Fox by presenting “an all-cash” proposal.
24 May 10:57 AM Oil slides Thursday on OPEC output boost expectations
Mubasher: Oil prices dropped on early Thursday, pressured by speculations that OPEC would boost crude production.
23 May 04:27 PM Trump's $200bn cut from China’s trade surplus seen 'economically impossible'
Trump's demand that China deduct $200 billion from its trade surplus with the US is not just politically difficult, but also economically impossible.
23 May 02:00 PM Barclays eyes merger with Standard Chartered
Two directors from Barclays and Standard Chartered have met to explore the possible benefits of combining the two London-based lenders
23 May 12:36 PM UK inflation slows to 2.2% in April
The UK’s consumer price index (CPI), the measure of inflation, showed a year-on-year decline of 2.2% in April, its lowest level since January 2017.
23 May 12:23 PM Eurozone output growth slows to 1.5-yr low in May
Flash estimates showed that Eurozone manufacturing saw a slow rate of growth in May.
23 May 11:22 AM Germany's private sector growth marks 20M low in May
Mubasher: Germany's business activity registered the weakest growth in May, touching the slowest pace for over one-and-a-half years.