Reuters - Before the Bell

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Monday, August 28, 2017

Oil markets roiled as Harvey hits U.S. petroleum industry

LONDON (Reuters) - Oil markets were roiled on Monday after Tropical Storm Harvey wreaked havoc along the U.S. Gulf Coast over the weekend, crippling Houston and its port, and knocking out several refineries as well as some crude production.

Gasoline soars, dollar weakens as Tropical Storm Harvey rages

LONDON (Reuters) - U.S. gasoline futures jumped to two-year highs while an already weak dollar hit 16-month lows against a basket of currencies on Monday as Tropical Storm Harvey pummelled the heart of the U.S. energy sector and raised concerns about the economy.

Futures flat as Hurricane Harvey weighs on oil, dollar

(Reuters) - U.S. stock index futures were little changed on Monday as Tropical Storm Harvey barreled into the Texas coast, the heart of the U.S. energy sector, raising concerns about the impact of the storm on the economy and piling more pressure on the dollar, which hit 16-month lows against a basket of currencies.

Pakistani bank says New York regulator seeks to fine it up to $630 million

ISLAMABAD (Reuters) - The New York State Department of Financial Services (DFS) is seeking to fine Habib Bank Ltd nearly $630 million for deficiencies relating to compliance with state and federal laws at its only U.S. branch, an official of the Pakistan bank said on Monday.

Harvey throws a wrench into U.S. energy engine

HOUSTON (Reuters) - A hurricane in the heart of the U.S. energy industry is set to curtail near-record U.S. oil production for several weeks, with the impact expected to reverberate throughout the country and across international energy markets.

Gasoline, product margins to rise further post-Harvey: Goldman Sachs

(Reuters) - Goldman Sachs analysts say gasoline and distillate product refining margins are likely to rise further in the wake of Tropical Storm Harvey, which is expected to drop more than 50 inches of rain in parts of Texas throughout the week.

Thousands of rail workers back at Buffett's BNSF as volumes rise

SEATTLE (Reuters) - BNSF Railway Co has called back roughly 4,000 of the 5,000 workers who were furloughed across its system last year, reflecting stronger volumes of coal, grain and intermodal containers and trailers, a spokesman said.

Uber picks Expedia's Dara Khosrowshahi as new CEO: sources

(Reuters) - Uber Technologies Inc [UBER.UL] chose Dara Khosrowshahi, the chief executive of travel company Expedia Inc, as its chief executive on Sunday, according to two sources with knowledge of the matter, handing him the challenge of leading the ride-services company out of a nearly year-long crisis.

Glencore puts second coal mine on block amid corporate rethink

SYDNEY (Reuters) - Glencore on Monday said it was looking to sell a second Australian coal mine, part of the Swiss-based resource giant's rethink on how it deploys capital as its reins in debt and commodities prices rise.

Western Digital group finalizing $17 billion deal for Toshiba chip unit: source

TOKYO (Reuters) - A consortium led by Western Digital Corp is close to an agreement to buy Toshiba Corp's $17.4 billion chip business, with the U.S. firm's CEO in Tokyo to finalize the long and contentious talks, a person familiar with the matter said.