Headlines 

How China Will Shake Up the Oil Futures Market

China, the world’s biggest oil buyer, is on the verge of opening a domestic market to trade futures contracts. It’s been planning one for years, only to encounter delays. The Shanghai International Energy Exchange, a unit of Shanghai Futures Exchange, will be known by the acronym INE and will allow Chinese buyers to lock in oil prices and pay in local currency. Also, foreign traders will be allowed to invest — a first for China’s commodities markets — because the exchange is registered in Shanghai’s free trade zone. There are…

Read More
Headlines 

Kobe Steel Scam Hits Planes, Trains, Automobiles

Kobe Steel Ltd. has made a startling admission: It sold products that failed quality control tests to about 500 companies. Worse still, it did so not in error but by falsifying data to make it appear that items had made the grade. Aircraft, electronics, car and bullet train manufacturers were among the recipients, raising obvious safety concerns. From Boeing Co. to Ford Motor Co., companies are also faked data about iron ore powder and materials used in DVDs and LCD screens. Chief Executive Officer Hiroya Kawasaki said on Oct. 12…

Read More
Headlines 

Why the U.S. and Turkey Are Suddenly in a Major Standoff

Relations between the U.S. and Turkey, allies since the aftermath of World War II, have soured in the 15 months since an Fethullah Gulen, whom the U.S. has so far refused to extradite. Further increasing tensions, the U.S. and Turkey are at odds over the war in Syria. This backdrop may help explain why the arrest of a U.S. consular employee in Turkey, on charges of involvement in the coup attempt, blew up so quickly into a major diplomatic rift, with the two nations suspending visa services for each other’s…

Read More