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  • 'I'll believe it when I see it' - Saudi Arabia doubts oil recovery and keeps taps tight
    Business
    Reuters

    'I'll believe it when I see it' - Saudi Arabia doubts oil recovery and keeps taps tight

    This week's surprise decision by Saudi Arabia and other top oil producers to broadly stick with output cuts despite rising crude prices was influenced by events in an unexpected place - Italy. "Take a look at what is happening in Milan today," Saudi energy minister Prince Abdulaziz bin Salman Al-Saud told a news conference on Thursday after a meeting of OPEC and its allies. Restrictions on movement destroyed up to a fifth of oil demand last year and led OPEC and its allies - known as OPEC+ - to make record output cuts.

  • John McAfee Indicted by DOJ on Money Laundering, Fraud Charges for Boosting ICOs
    Business
    CoinDesk

    John McAfee Indicted by DOJ on Money Laundering, Fraud Charges for Boosting ICOs

    Tech entrepreneur John McAfee has been indicted by the U.S. Department of Justice on fraud and money laundering charges tied to McAfee’s touting of various cryptocurrency projects without disclosing he was paid to do so. McAfee, who is currently detained in Spain on a separate tax charge by the DOJ, was indicted alongside Jimmy Watson […]

  • Indian gold buyers pile in as prices dip to one-year low
    Business
    Reuters

    Indian gold buyers pile in as prices dip to one-year low

    Retail consumers in India continued to buy up physical gold this week as prices retreated to a near one-year low, while lower rates also injected fresh activity in other hubs, especially Singapore. Dealers charged up to $5 an ounce over official domestic prices, inclusive of 12.5% import and 3% sales levies, compared with last week's premium of $4. On Friday, local gold futures fell to 44,217 rupees per 10 grams, a trough since April 7.