HSBC Cuts GDP Outlook for 13 Oil Exporters as Price Plunges
The plunge in oil prices prompted HSBC Holdings Plc (HSBA) to cut this year's economic outlook for 13 crude exporters across central, eastern Europe and the Middle East, while singling out Turkey as the biggest winner from the slump.
Europe shares follow Asia higher on China growth relief
(Reuters) - Shares in Europe and Asia rose on Tuesday and the dollar strengthened after China said its economy had not slowed as much as many in markets had feared.
However, the International Monetary Fund cut its forecast for global growth in 2015 by three-tenths of a percent to 3.5 percent and called on governments and central banks to pursue accommodative monetary policies and reforms.
The New York Times
On to Plan B as Oil Work Stalls in Texas
MIDLAND, Tex. - With oil prices plummeting by more than 50 percent since June, the gleeful mood of recent years has turned glum here in West Texas as the frenzy of shale oil drilling has come to a screeching halt.
Every day, oil companies are decommissioning rigs and announcing layoffs. Small companies that lease equipment have fallen behind in their payments.
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