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May, 6, 2016

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Business > Global Markets
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.
 
The growth of genetically modified crops has dipped for the first time following two decades of steady increases, according to a study released Wednesday.
 
Oil prices fell on Wednesday, taking a breather after a rally fueled by reports Saudi Arabia and Russia had agreed to freeze output ahead of a key producers' meeting.
 
Tiny South Pacific island nation Nauru has become the 189th member of the International Monetary Fund and the World Bank, the two institutions announced Tuesday.
 
Energy firms led an Asian stock market rally Wednesday as strong trade data from China and news of a deal between Russia and Saudi Arabia to limit oil output injected much-needed optimism.
 
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