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European equities hammered as oil pushes BP into loss

European stock markets tumbled Tuesday as BP’s vast annual earnings loss rattled an energy sector already battered by sliding oil prices. London equities fell 2.3 percent, with British energy giant BP sinking nearly 9 percent after posting the company’s biggest loss in at

Energy, insurance firms lead sell-off in Hong Kong stocks

Hong Kong stocks plunged in the morning session Wednesday as another sell-off in oil hammered energy firms, while insurance companies were also hit by a report China would clamp down on the purchase of overseas cover. The Hang Seng Index sank 2.49 percent, or 483.44 points, to 18,963.

Tokyo stocks down more than 3pc by break, extending global slump

Tokyo stocks slumped more than three percent Wednesday morning, extending a drop on global markets as a stronger yen hit exporters and falling oil prices reignited worries about the world economy. As the euphoria of Friday’s Bank of Japan stimulus faded, oil’s fresh collap

Tokyo stocks plunge 3.15pc by close as oil prices drop again

Tokyo stocks slumped more than three percent Wednesday, extending a drop on global markets as a stronger yen hit exporters and falling oil prices reignited worries about the world economy. The benchmark Nikkei 225 index at the Tokyo Stock Exchange tumbled 3.15 percent, or 559.43 point

Oil extends deep losses, WTI falls below $30

Oil prices extended sharp losses for a second day Tuesday as traders anticipate another rise in US crude stockpiles, worsening the global glut. US benchmark West Texas Intermediate for delivery in March slid $1.74 (5.5 percent) to $29.88 a barrel on the New York Mercantile Exchange. I

Ferrari shares skid as debt and outlook disappoint

sports carmaker Ferrari on Tuesday announced an increase in its net profit for last year, but investors dumped its shares after being spooked by its debt and disappointed with the 2016 outlook. Net profit rose at the brand with the famous prancing horse logo by 9.4 percent last year t

Asian markets tumble as oil collapses again

The slump in oil dominated the mood on Asian markets Wednesday after falling back below $30 a barrel, hammering energy firms once again and sending stocks deeper into the red. With the euphoria of Friday s Bank of Japan stimulus but a distant memory, Tokyo led the regional losses foll

Yahoo opens door to deal, unveils big job cuts

Yahoo on Tuesday said it is cutting 15 percent of its workforce and narrowing its focus as it explores “strategic alternatives” for the future of the faded Internet star. The announcement, coming with the release of a big quarterly loss, offered the first sign that Yahoo m

Syria’s war-pummelled textile industry hangs on for survival

At a stall in a Beirut exhibition hall, Syrian businesswoman Reem Abu Dahab displays her workshop s lacy pink and white nightgowns, hoping to attract increasingly elusive buyers. Syria s textile industry was once one of the country s economic bright spots, with its products coveted th

IMF says Turkey needs tighter policy to rein in inflation

Turkey needs tighter monetary policy to bring inflation back to its 5 percent target in the medium term, the International Monetary Fund (IMF) said on Tuesday after an official visit. The IMF also said Turkey’s monetary policy framework needs to be improved to strengthen its eff