LONDON Oil prices fell on Friday as a rising U.S. rig count stoked fears of global oversupply and after Chinese regulators opened an investigation into suspected stock market manipulation.
Emerging Asian currencies will weaken in the months ahead due to expectations the US Federal Reserve will raise interest rates soon, although foreign exchange strategists in a Reuters poll say that losses aren't expected to be significant.
... ** BP shares up c.2 pct, after rising 5 pct yesterday, following news of its settlement to resolve claims from its Gulf of Mexico oil spill five years ago.
For once, China's government finds itself looking impotent. Beijing has thrown all but the kitchen sink to halt an unravelling of the stock market, now three weeks old and counting, that many fear is turning into an all-out collapse.
Some economists don't fear a Greek exit from the euro because they can count the costs. Most political leaders are petrified because they can't.