 | World stocks drop as US
economic data disappoints WORLD stock markets fell on
Thursday as signs of weakness in
the world´s two biggest economies
kept investors at bay.
Benchmark oil lingered near
$105 a barrel. The dollar fell
against the euro and the yen.
Caution in markets stemmed
from...
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| | PetroChina surpasses Exxon
as biggest global oil producer |  A BIG shift is happening in
Big Oil: an American giant
now ranks behind a Chinese
upstart.
Exxon Mobil is no longer
the world´s biggest publicly
traded producer of oil. For the
first time, that distinction
belongs to a 13-year-old
Chinese company called
PetroChina. The Beijing company
was created by the
Chinese government to
secure more oil for that
nation´s booming economy.
PetroChina announced on
Wednesday that it pumped 2.4
million barrels a day last year,
surpassing Exxon by 100,000.
The company has grown rapidly
over the last decade by
squeezing more from China´s
aging oil fields and outspending
Western companies to
acquire more ... | | | JAL to tap Qantas,
other Oneworld
partners for
$6 billion IPO |  JAPAN Airlines is planning
to tap Australia´s Qantas
Airways, British Airways´
owner IAG and other members
of the Oneworld alliance
as investors in an initial public
offering expected to be
worth at least $6 billion,
three people with knowledge
of the carrier´s strategy said.
Japan Airlines (JAL) is planning
to raise a minimum of
500 billion yen ($6.03 billion)
in a relisting of its shares in
Tokyo that could come as early
as September, sources have
told Reuters. The IPO would
allow a state-backed fund to
recoup the 350 billion yen it
injected into the company
after its bankruptcy in 2010.
The former national flag carrier
is eager to secure a group
of ... | | | BRICS flays West over IMF
reform, monetary policy |  LEADERS of the BRICS
group of emerging market
nations pressed Western
powers to cede more voting
rights at the IMF this year
and flayed the rich world´s
reflationary monetary policies
for putting global economic
stability in jeopardy.
"This dynamic process of
reform is necessary to ensure
the legitimacy and effectiveness
of the Fund," Brazil,
Russia, India, China and
South Africa said in a joint
declaration after their oneday
summit in New Delhi.
"We stress that the ongoing
effort to increase the lending
capacity of the IMF will only
be successful if there is confidence
that the entire membership
of the institution is truly
committed to implement the
2010 Reform.... | |
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