Wall Street set to open lower after Saudi attacks; energy stocks surge

(Reuters) – Wall Street was set to open lower on Monday as the weekend attack on Saudi Arabian oil facilities knocked out 5% of the world’s supply, sparking concerns over global economic growth and heightening tensions in the Middle East. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in […]

Oil surges, stock futures slip after attack on Saudi facility

SYDNEY (Reuters) – Oil prices surged to six-month highs on Monday while Wall Street futures fell and safe-haven bets returned after weekend attacks on Saudi Arabia’s crude facilities knocked out more than 5% of global oil supply. FILE PHOTO – Passersby are reflected on a stock quotation board outside a brokerage in Tokyo, Japan, August […]

After GM talks hit impasse, UAW workers to strike as of Sunday night

DETROIT (Reuters) – The United Auto Workers (UAW) said on Sunday that its roughly 48,000 hourly workers at General Motors Co facilities would go on strike as of midnight Sunday after labor contract talks reached an impasse over wide-ranging issues from wages to health care benefits and temporary workers. A member of United Auto Workers, […]

Attacks on Saudi facilities threaten spare oil capacity, price hikes

HOUSTON (Reuters) – Saturday’s attacks on key Saudi Arabia processing plants will test the world’s ability to handle a supply crisis as it faces the temporary loss of more than 5% of global supply from the world’s biggest crude exporter. Smoke is seen following a fire at an Aramco factory in Abqaiq, Saudi Arabia, September […]

Overshadowed by U.S. corruption probe, UAW, GM near contract deadline

DETROIT (Reuters) – A federal corruption probe of top union officials stirred growing uncertainty about collective bargaining talks on Saturday, as the current labor contract between the United Auto Workers (UAW) and General Motors Co (GM.N) was set to expire at the stroke of midnight. FILE PHOTO: United Auto Workers President Gary Jones delivers remarks […]