Even as OPEC battles to agree on its first production cut since 2008, data has shown that during one of the worst downturns for the global oil industry, the world's listed oil companies have slashed oil output by 2.4 percent so far this year.   Data provided by Morgan Stanley showed that in...

The way people order food, a car, or a place to stay has been changed by the on-demand economy, which uses smartphone technology to immediately fill consumer needs. Now, offering coverage with the swipe of an app, technology startups are targeting the next business frontier – insurance.  ...

As delegates of OPEC members said talks on assigning quotas to individual countries made good progress, oil traders and analysts grew more confident that OPEC will reach a deal to curb global oversupply next week.   As he left the group’s headquarters in Vienna on Monday evening, Libyan OPEC...

In what would be Japan's biggest property deal since the global financial crisis, China's Anbang Insurance Group Co is in talks to buy as much as $2.3 billion in Japanese residential property assets from Blackstone Group, reported Reuters quoting two people involved in the discussions.  ...

 European Union insiders reportedly say that it would be wrong to assume that the end of the penalties tied to Russian encroachment in Ukraine would be spelled due to Europe’s shaky resolve over extending economic sanctions against Russia, combined with a U.S. president-elect weighing warmer...

Aruna Desai can’t find a bank to exchange her funds and couldn’t give the money away if she tried and she has landed in a problem with the thousands of Indian rupees she has with her in the U.S.   Currency exchange providers in the U.S. have been unable to take the outlawed bills since...

When OPEC meets at the end of the month to curb production and stabilize the oil market, it is expected to deal for real this time, striking some form of agreement.   What could amount to an agreement to freeze production increases and actually cut back some output, has been hashed out by...

Seven people run a $200 million hedge fund following artificial intelligence formulas and are tucked into the attic of a Georgian building in London's West End. But nowhere to be seen are the supercomputers that process their complex algorithms.   Piquant Technologies outsources all its IT...

Artists are still feeling the pinch even though music streaming has driven down the costs for consumers.   High-profile singers, while admitting new technology could be key in helping them win, the expressed their frustration at streaming services, record labels and regulators during last...

Samsung Electronics announced its biggest move till date into the auto electronics market and the biggest overseas acquisition ever by a South Korean firm when it announced that it would be buying Harman International Industries in an $8 billion deal.   As the company tries to break...

Amid signs that space in on-land depots is filling up, a ship-operator said that oil companies booked tankers to store as many as 9 million barrels of crude in northwest Europe. Given the region is scheduled to load the most cargoes in 4 1/2 years next month, the glut could get bigger still....