America’s largest banks are now raising red flags about the health of those loans. Banks “are going to lose money on the loans they’ve made. That’s pretty evident — whether oil prices go to $30 or $80 a barrel,” said Dick Bove, an analysts who covers banks at Rafferty Capital. Source CNN Money
China’s port city of Zhoushan is planning to challenge Singapore’s dominance of the multi-billion dollar shipping fuel industry, relying on proximity to some of the world’s biggest ports and Beijing’s support to give it an edge. Source: Reuters
French energy company Total (TOTF.PA) said it has agreed to sell a 4 percent stake in its Australian Ichthys liquefied natural gas (LNG) project to Japanese partner Inpex (1605.T) for $1.6 billion, following cost overruns. Source: Reuters
The European Central Bank President Mario Draghi has to tread a fine line once again as he gives his latest update on euro area monetary policy on Thursday. Source: CNBC
