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  • Oil prices fall as China share crisis worsens

    A ship passes a petro-industrial complex in Kawasaki near TokyoBy Henning Gloystein SINGAPORE (Reuters) - Oil futures fell again on Wednesday as worries over the Greek debt crisis and China's stock market turmoil outweighed an expected U.S. inventory drop. China's stocks tanked further on Wednesday in a deepening crisis in which China's Securities Finance Corp said it would provide liquidity to ease "panic", and as over 500 Chinese-listed firms suspended trading.


  • Oil prices fall as China share crisis worsens, outweighs expected U.S. stock draw

    Oil pumps are seen in Lagunillas, Ciudad Ojeda, in Lake Maracaibo in the state of ZuliaBy Henning Gloystein SINGAPORE (Reuters) - Oil futures fell again on Wednesday as worries over the Greek debt crisis and China's stock market turmoil outweighed an expected U.S. inventory drop. China's stocks tanked further on Wednesday in a deepening crisis in which China's Securities Finance Corp said it would provide liquidity to ease "panic", and as over 500 Chinese-listed firms suspended trading. U.S. crude was down 25 cents at $52.08, following an 8 percent fall over the last two sessions, and trade data showed that the market is preparing for further falls.


  • China stocks tumble as regulator warns of "panic"

    Investors look at computer screens showing stock information at a brokerage house in ShanghaiBy Samuel Shen and Pete Sweeney SHANGHAI (Reuters) - Chinese stocks dived on Wednesday after the securities regulator said the tumbling stock market in the world's second-biggest economy was in the grip of "panic sentiment" as investors ignored a battery of support measures from Beijing. Amid signs of the market freezing up as companies scrambled to have trading in their shares suspended, the People's Bank of China said it was watching closely and would guard against systemic regional financial risks. The CSI300 index of the largest listed companies in Shanghai and Shenzhen fell 5 percent in early trade, while the Shanghai Composite Index was down 4.3 percent.


  • Lawyer for Malaysia's Najib says instructed to consider action on WSJ

    Malaysia's Prime Minister Najib Razak greets supporters as he arrives for a news conference at a mosque outside Kuala Lumpur, MalaysiaA law firm representing Malaysian Prime Minister Najib Razak said on Wednesday that it has been instructed to consider action against the Wall Street Journal (WSJ) if there is evidence of conspiracy against him. Najib has denied taking any money from 1MDB or any other entity for personal gain. Reuters has not independently verified the WSJ report.


  • Singapore central bank in touch with banks on Malaysia's 1MDB-Najib probe

    Malaysia's Prime Minister Najib Razak greets supporters as he arrives for a news conference at a mosque outside Kuala Lumpur, MalaysiaSingapore's central bank says it is in contact with financial institutions in relation to Malaysia's probe into allegations hundreds of millions of dollars had been transferred to an account of Prime Minister Najib Razak. The Wall Street Journal reported last week that investigators looking into debt-laden state-owned fund 1MDB had traced nearly $700 million of money that came through a private bank account in Singapore into accounts in Malaysia they believed belonged to the prime minister. Najib has denied taking any money from 1MDB or any other entity for personal gain and is considering legal action.


Quote of the Day

The test of a successful person is not an ability to eliminate all problems before they arise, but to meet and work out difficulties when they do arise. We must be willing to make an intelligent compromise with perfection lest we wait forever before taking action. It's still good advice to cross bridges as we come to them. -David Schwartz




Today's Word

bespoke

1. Custom-made. 2. Relating to custom-made products.



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