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New EU sanctions over Siemens turbines violate international law, Russian energy minister says

Alexander Zemlianichenko | Reuters Russian President Vladimir Putin listens to Defence Minister Sergei Shoigu as they attend the Navy Day parade in St. Petersburg, Russia, July 30, 2017. Picture taken July 30, 2017. The EU first imposed sanctions on Russia after the 2014 military annexation of Crimea from Ukraine. On …

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Venezuela inaugurates new legislative superbody despite protests

Federico Parra | AFP | Getty Images An anti-government activist shouts slogans during a protest against the installation of the Constituent Assembly on August 4, 2017, in Caracas. The assembly will function in the same downtown Caracas palace complex as the existing opposition-run congress, which could potentially be dissolved by …

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Volkswagen executive pleads guilty in US diesel emissions case

Broward Sheriff’s Office via Getty Images In this handout provided by the Broward Sheriff’s Office, suspect Oliver Schmidt, an executive for Volkswagen poses in this undated booking photo. Volkswagen executive Oliver Schmidt pleaded guilty Friday in U.S. District Court in Detroit in a diesel emissions scandal involving the German automaker. …

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Oil could see downward correction in next quarter, Barclays says

Brent Lewin | Bloomberg | Getty Images Employees torque a pipe at a wedge well at Christina Lake, a situ oil production facility half owned by Cenovus Energy and ConocoPhillips, in Conklin, Alberta, Canada. Oil market is expected to see a downward correction this quarter but Brent prices will move …

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Allianz forms JV with LV= to create 3rd largest British P&C insurer

Martin Leissl | Bloomberg | Getty Images Dieter Wemmer, chief financial officer of Allianz SE German insurance titan Allianz said on Friday that it had agreed to create a joint venture and strategic partnership with British insurer LV= to form the third-largest property and casualty insurance company in the UK. …

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$894 million for Q2 net profit vs $280 million expected

Simon Dawson | Bloomberg via Getty Images A logo sits above an automated teller machine (ATM) outside a Royal Bank of Scotland Group (RBS) bank branch in London, U.K. RBS reported a large earnings beat on Friday morning with the U.K. lender highlighting that it had swung back to a …

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Australian PM had to repeatedly explain refugee deal to Trump during call

Axel Schmidt | Reuters Australian Prime Minister Malcolm Turnbull, and U.S. President Donald Trump at the G20 leaders summit in Hamburg, Germany, July 7, 2017. President Donald Trump apparently didn’t understand the refugee deal that he was supposed to discuss with Australian Prime Minister Malcolm Turnbull, according to a transcript …

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The world’s top 10 retirement destinations for 2017—commentary

Jacek Sopotnicki | Getty Images Carvoeiro, Algarve, Portugal. This Old World region on the Atlantic Ocean is the best place in the world to retire that nobody’s talking about. Located at Europe’s westernmost tip and boasting 100 miles of Atlantic coastline, Algarve could be Europe’s most famous secret. This region …

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Trump speaks differently about border wall with Mexican president

Carlos Barria | Reuters U.S. President Donald Trump shakes hands with Mexico’s President Enrique Pena Nieto during the their bilateral meeting at the G20 summit in Hamburg, Germany July 7, 2017. President Donald Trump appeared to describe his proposed border wall as a political tool and admit he knew Mexico …

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Yum Brands earnings second quarter 2017

Qilai Shen | Bloomberg | Getty Images Pedestrians walk past a Yum! Brands Inc. KFC restaurant in Shanghai, China Yum Brands on Thursday reported earnings and revenue that topped analysts’ expectations. EPS: 68 cents adjusted vs. 61 cents expected, according to Thomson Reuters Revenue: $1.45 billion vs. $1.42 billion expected, …

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