Crude Oil Declines for First Day in Four as Dollar, Stockpiles Increase
Crude oil fell for the first day in four after the Federal Reserve raised the discount rate, pushing the dollar higher and damping investor demand for commodities.
Watsa's Fairfax Buys Workers' Compensation Insurer Zenith for $1.3 Billion
Fairfax Financial Holdings Ltd., the Canadian insurer run by Prem Watsa, agreed to buy Zenith National Insurance Corp. for about $1.3 billion in cash, adding sales in California. The deal is the biggest in Fairfax’s two decades under Watsa.
Reliance May Bid More Than $14.5 Billion for Lyondell, Economic Times Says
Reliance Industries Ltd., India’s biggest company by market value, is planning to increase its bid for bankrupt LyondellBasell Industries AF to more than $14.5 billion, the Economic Times reported, citing unidentified people.
Bharti May Sell Shares to SingTel to Fund Zain Asset Purchase, Times Says
Bharti Airtel Ltd. may sell shares to Singapore Telecommunications Ltd. to part fund its purchase of Zain’s Africa assets, the Economic Times reported, citing a person familiar with the matter that it didn’t name. A Bharti spokesperson declined to comment and a SingTel spokesperson said it’s premature to talk about funding, the newspaper said.
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Copper Climbs for Second Day on China Demand Outlook; Aluminum, Zinc Gain
Thailand, Indonesia and Malaysia Plan Rubber-Price Support, Apichart Says