OPEC leader Saudi Arabia said on Monday the group would quickly address weak compliance with output cuts by some OPEC states and would monitor rising production from Nigeria and Libya, which have been exempted from the curbs. OPEC has agreed with several non-OPEC producers led by Russia to cut oil output by a combined 1.8 million bpd from January 2017 until the end of March.
Ryanair (RYA.I) would consider Boeing's (BA.N) proposed new 737 MAX 10 airliner if the price was right, but the plane is not currently a priority for the airline, its chief financial officer said on Monday. Boeing in June launched what would become the largest version of its 737 MAX medium-haul family, designed to challenge the popular Airbus (AIR.PA) A321 flown by Ryanair rivals. "If someone comes to us with the right price, we'll clearly look at it but at the moment it's not high on the list," Neil Sorahan told Reuters in a telephone interview.
The International Monetary Fund revised down its 2017 growth forecast for the U.K., citing slower-than-expected expansion at the start of the year.
Ride-hailing firm Grab expects to raise $2.5 billion to spend extending its lead over Uber Technolgies Inc and expanding into financial services, in the latest injection of funds into Southeast Asia's burgeoning tech scene. Chinese peer Didi Chuxing and Japan's SoftBank Group Corp will contribute most of the money, which a person close to the Singapore-based firm said would value it at $6 billion. The investment would be the latest in a Southeast Asian tech startup as major companies seek growth in the region's huge developing economies with young, tech-savvy demographics.
Kenworth Truck Co. recently invited journalists to test drive five of its vocational trucks in Snoqualmie, WA, at the site of one of the most prestigious professional rally schools in the U.S.: a place known as "DirtFish" that is situated roughly 26 miles from Kenworth's headquarters in Kirkland, WA. A century ago, it was the site of the Snoqualmie Lumber Co., later renamed Weyerhaeuser. (Photos: Neil Abt/Fleet Owner)
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