US oil hits one-week high as dollar sags, many Asian markets shut

SINGAPORE, Feb 16 (Reuters): US crude extended gains in subdued trade on Friday as the dollar slipped to a three-year low, with many Asian markets closed for the Lunar New Year holiday.NYMEX crude for March delivery CLc1 was up 17 cents, or 0.3 per cent, at $61.51 a barrel by...

Read more

Consumer squeeze hits UK retail sales

LONDON, Feb 16 (BBC): Retail sales saw only a slight pick-up in January as rising prices continued to dampen shoppers' spending.UK sales volumes rose by just 0.1 per cent in January from the previous month, the Office for National Statistics said.The ONS said the longer-term picture showed "a continued slowdown...

Read more

American producer prices rise in Jan, industrial output falls

WASHINGTON, Feb 16 (Reuters): US producer prices accelerated in January, boosted by strong gains in the cost of gasoline and healthcare, offering more evidence that inflation pressures were building up.While other data on Thursday showed an increase in the number of Americans filing for unemployment benefits, claims continued to point...

Read more

As mining investors push caution, Glencore differs from rivals

TORONTO/MELBOURNE, Feb 16 (Reuters): As shareholders push the world's cash-rich miners to maintain lush dividends and make the most of existing assets, Glencore is taking a slightly different tactic that positions it for shrewd acquisitions.Like other big rivals, Glencore is expected to lift its dividend payout when it reports results...

Read more

Japan’s Mitsui to raise stake in Chile’s Collahuasi copper mine

TOKYO, Feb 16 (Reuters): Japanese trading house Mitsui & Co Ltd said on Friday it will reshuffle its copper assets in Chile, increasing its stake in the Collahuasi mine and selling a small stake in the Los Pelambres mine, boosting its overall copper volumes.Mitsui said it would buy a 3.6...

Read more