Receive Breaking News updates as they occur
OPEC will seek on Saturday to persuade other oil producers to lower production as part of a newly struck global pact to stem a crude glut and lift painfully low prices. The Vienna meeting, which includes major producer Russia, aims to nail down details on implementing the accord reached late last month. "We do not expect the outcome of this meeting to play a significant role in rebalancing the oil market," Vienna-based analyst group JBC Energy said Friday.
Italy's Monte dei Paschi di Siena saw its stock tumble more than 12 percent on Friday over reports the ECB had denied it more time to raise the cash it needs to avoid being wound down. The world's oldest bank had on Wednesday asked the European Central Bank for two more weeks to find the funds, saying political instability created by Prime Minister Matteo Renzi's resignation had left investors reluctant to commit funds. A financial source told AFP the Italian bank had not yet received any official communication on the matter from the ECB.
WASHINGTON (AP) — President Barack Obama has ordered intelligence officials to conduct a broad review of election-season cyberattacks, including the email hacks that rattled the presidential campaign and raised fresh concerns about Russia's meddling in U.S. elections, the White House said Friday.