Energy Update
TORONTO, May 26 (Reuters) - Canada's biggest banks on
Thursday warned of further losses in coming quarters as energy
companies struggled to repay loans, even as growth in wealth
management and retail banking helped the banks report
better-than-expected second-quarter results.
WASHINGTON, May 26 (Reuters) - U.S. business spending
intentions weakened in April for a third straight month amid
soft demand for machinery, but a surge in contracts to purchase
previously owned homes to a 10-year high supported views
economic growth was gaining speed.
LAGOS, May 26 (Reuters) - Nigerian oil minister Emmanuel Ibe
Kachikwu said on Thursday that the government needs to improve
its amnesty programme for militants in Niger Delta to address
"neglect by the government and international oil companies".
The dry bulk freight market is suffering its worst period in decades. However, even this bearish environment can bring some interesting opportunities for the right shipping players.
Italian construction and civil engineering firm Salini Impregilo has been awarded a US$2.8 billion contract to build the 2,200-MW Koysha hydropower plant in Ethiopia.
A solar power project in Australia’s largest grape growing region is giving struggling vignerons a sunny alternative.
China is expected to add new solar PV installation capacity of more than 19 GW this year, bringing the total PV installation capacity to above 60 GW, outperforming Germany to become the world’s largest country in terms of the aggregate PV installation capacity.
WASHINGTON, May 26 (Reuters) - Orders for long-lasting U.S.
manufactured goods surged in April on strong demand for
transportation equipment and a range of other products, but
continued weakness in business spending plans suggested the
manufacturing rout was far from over.
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