Tag: Yahoo Finance

JPMorgan to buy Paris building to bring euro teams from London

U.S. bank JPMorgan Chase & Co said it plans to buy a building in central Paris to house up to 450 staff in coming years, as it relocates some services from London after Britain's exit from the European Union. The expansion is expected to make the French capital where it currently has 260 staff, its second-largest base in Europe behind London, which has 10,000 staff, JPMorgan said....

Libya’s Oil Output Grinds to Halt as Berlin Peace Talks Conclude

(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.Libya’s biggest oil field began to halt production after armed forces shut down a pipeline, compounding supply disruptions that are continuing after a conference that aimed to broker an end to the OPEC nation’s civil war concluded in Berlin. The country’s oil production will be limited to 72,000 barrels per day once its storage tanks are full, according to a spokesman for the National Oil Corporation, down from more than 1.2 million barrels per day on Saturday. That’s the lowest level since August 2011, data compiled by Bloomberg show.The remaining production will come from offshore fields and the Wafa oil field. The Sharara field, which can pump 300,000 barrels a day, will stop producing once its tanks are full, a person familiar with the situation said. The output plunge started when an eastern...