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Financial News

 

 

 

Most global markets decline … Oil prices surge … Russia halts oil supplies to Belarus amid economic talks

 

BEIJING (AP) – Most major global stock markets declined today after an Iranian general was killed by U.S. forces in Iraq. In early trading, London’s FTSE lost 0.5% and Germany’s DAX tumbled 0.9%. France’s CAC 40 fell 0.5%. In Asia, Hong Kong’s Hang Seng lost 0.3%, the Shanghai Composite Index was off 1.5 points. India’s Sensex lost 0.5% and Singapore also declined. Seoul’s Kospi was up 1 point. Wall Street is expected to open lower, with Dow and S&P futures both down 0.8% after rising to new records on Thursday.

 

LONDON (AP) – The price of oil surged today as global investors were gripped with uncertainty over the potential repercussions after the United States killed Iran’s top general. In previous flare-ups in tensions with the U.S., Iran has threatened the supply of oil that travels from the Persian Gulf to the rest of the world. About 20% of oil traded worldwide goes through the Strait of Hormuz, where tankers have come under attack this year. The international benchmark for crude oil jumped 4.1%, or $2.70, to $68.95 a barrel in London trading.

 

MINSK, Belarus (AP) – Russia has halted oil supplies to Belarus (BEHL’-uh-roos) after the two countries failed to renegotiate a contract amid talks of further improving economic ties. The two Belarusian refineries were operating at low capacity, running on reserves from last year. Oil transit to Europe and natural gas supplies remain unaffected. Belarus has been relying on cheap energy and loans from Russia for more than a quarter century.

 

ANKARA, Turkey (AP) – A Turkish airline company says its jets were used to fly former Nissan chairman Carlos Ghosn (gohn) from Japan to Lebanon. But the company says it didn’t know he was on board because an employee falsified records. Istanbul-based MNG Jet says it filed a criminal complaint in Turkey concerning the illegal use of its jet charter services.áGhosn earlier this week jumped bail in Japan and fled to Lebanon rather than face trial on financial misconduct charges in a dramatic escape.

 

HARTFORD, Conn. (AP) – A major insurer is limiting its insurance coverage of companies in the fossil fuel business, citing concerns about climate change. The Hartford Financial Services Group Inc. won’t cover companies that get more than a quarter of their revenue from thermal coal mining or that produce more than a quarter of their energy from coal. The company also says it will not write policies or make investments in companies that generate more than 25% of their revenue directly from extracting oil from tar sands.

 

 

AP-WF-01-03-20 1147GMT