Oil slips on gloomy Chinese demand outlook
Oil prices slipped on Thursday as lacklustre Chinese consumption signalled weaker demand from the world's biggest crude importer, outweighing support from Wednesday's data showing large draws on US oil inventories, reports Reuters.Brent crude futures for September fell 91 cents, or 1.1 per cent, to $80.80 a barrel by 1315 GMT....
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American Airlines cuts profit forecast as sales strategy backfires
WASHINGTON, July 25 (Reuters): American Airlines on Thursday cut its annual profit forecast, citing its previous sales and distribution strategy that drove away corporate travelers and hit its revenue.The Texas-based airline also highlighted an excess capacity in the domestic market that has undermined the industry's pricing power. Its shares were...
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FAO urges urgent efforts to combat bird flu
BEIJING, July 25 (Reuters): The United Nation's Food and Agriculture Organization on Thursday called for urgent regional efforts to combat a rise in avian influenza cases across the Asia-Pacific region."Since late 2023, we have observed a rise in human cases and the virus spreading to new animal species," Kachen Wongsathaporn-chai,...
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Gold drops over 1.0pc as investors book profits
Gold slid over 1 per cent on Thursday, falling to its lowest level in two weeks, as investors squared positions to focus on U.S. economic data that could offer additional insights into the timing of the Federal Reserve's potential interest rate cuts, reports Reuters.Spot gold fell 1.2 per cent to...
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