Wednesday Morning Briefing: Saudi Arabia promises proof Iran behind oil attack

Highlights

Saudi Arabia promises evidence linking Iran to oil attack Saudi Arabia said it would show evidence linking regional rival Tehran to an unprecedented attack on its oil industry that Washington believes originated from Iran. Concrete evidence showing Iranian responsible, if made public, could pressure Riyadh and Washington into a response, though President Donald Trump said he does not want war.

Fed confronts new complexities The Federal Reserve is widely expected to cut its key overnight lending rate by a quarter of a percentage point for the second time this year. Investors will look for answers on how much more help the economy will need considering that unemployment is low and growth remains steady.

Risk of no-deal Brexit 'very real', EU's Juncker says The European Union delivered a stark warning that Britain was headed for a damaging no-deal Brexit, with London’s ideas on replacing the contentious backstop to unlock an accord falling short just six weeks before Britain is due to leave.

World

Israel's Netanyahu teetering in close election race Israel’s election remained too close to call with television stations carrying unofficial results showing Prime Minister Benjamin Netanyahu tied with his main rival, former military chief Benny Gantz.

Happy Valley horse races abandoned after Hong Kong protest threat Hong Kong’s Jockey Club canceled all races planned for today after pro-democracy protesters said they would target the world-famous Happy Valley racecourse where a horse part-owned by a pro-China lawmaker was due to run. This comes as day after democracy activists urged members of the U.S. Congress to pass legislation to combat human rights abuses in the city.

Vale misled public on dangerous dams, prompting Brazil probe Faced with public outrage after its second mining dam collapse in four years killed at least 240 people in Brazil, Vale SA misrepresented what it had done to shut down its riskiest dams, a review of the company's statements shows.

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Business

Window closing fast for WeWork parent to launch IPO

WeWork owner The We Company faces strong headwinds in achieving its goal of launching an initial public offering by the end of the year after postponing it this month, fund managers and capital markets professionals said.

5 min read

Oil retreats on Saudi supply reassurance, Fed in limelight

Oil prices cooled as Saudi Arabia said full oil production would be restored by month’s end while caution ahead of an expected U.S. interest rate cut kept wider financial markets in tight ranges.

4 Min Read

New York state bans flavored e-cigarettes

New York became the second state to ban flavored e-cigarettes after its Democratic governor called for emergency action in response to concerns about their rising use among teens and a nationwide spate of lung illnesses.

2 min read

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