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May, 4, 2016

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Business > Global Markets
Oil prices plunged on Monday after the world's top producers failed to reach an agreement on capping output aimed at easing a global supply glut, sparking fears it could set off another round of price falls.
 
The yen rallied on Monday in Asia while emerging currencies slumped after the collapse of weekend talks between key producers in Doha aimed at capping output.
 
The world's leading economies took a step Friday toward denying tax evaders and money launderers around the world the ability to hide behind anonymous shell companies.
 
A new multilateral lender set up by the BRICS nations has approved its first set of loans valued at US$811 million for renewable energy projects in four of its member countries, according to the bank.
 
U.S. corporate giants like Apple and General Electric have stashed nearly US$1.4 trillion in dozens of offshore tax havens, denying the U.S. and other governments needed tax income, Oxfam America said Thursday.
 
Oil prices rose in Asia Friday after the International Energy Agency (IEA) said it saw the crude supply glut easing by year's end, but trading was cautious ahead of a crunch producers' summit.
 
World stock markets were mostly lower Friday as investors assessed a report on Chinese quarterly economic growth. Market players were also watching for cues on currencies and other policies from a meeting in Washington, D.C., of financial ministers and central bank governors of the Group of 20 leading industrial nations.
 
The yen fell against the U.S. dollar on Friday, heading for its biggest weekly fall in over two months over expectations the Bank of Japan may soon expand its already massive monetary easing program.
 
Emerging market currencies went into a tailspin Thursday as the Singapore central bank's surprise decision to loosen monetary policy ignited fears about Asia's developing economies, sending shudders across the region.
 
Oil prices extended losses in Asia Thursday following a rise in U.S. commercial crude stockpiles, while traders turned cautious ahead of a crunch producers' meeting at the weekend.
 
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