French oil company Total SA said it would avoid U.S. sanctions on Iran by using its own euro-denominated cash to finance the first Western energy deal in the Islamic Republic since international restrictions over its nuclear program were lifted this year. Source: WSJ
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China is planning to bring back gold standards for international payment after several decades. Being the world’s largest importer of yellow metal, China is now preparing to launch an oil futures contract denominated in yuan and redeemable in gold. While the yuan is not yet a global trade settlement currency, China will make the plan possible by backing the yuan with gold for settling crude oil imports. China is also the largest importer of crude oil. Source Business Standard
Global accountancy firm Deloitte [DLTE.UL] has been hit by a sophisticated hack that resulted in a breach of confidential information and plans from some of its biggest clients, Britain’s Guardian newspaper said on Monday. Source Reuters
Due to the danger to its own drivers, Reining Transport from Hoogezand has stopped road transport in England on 1 September. “We left the table at the end of last year,” says director Gerrit Hes, “asking whether we wanted to go to England. Our drivers were often threatened. Windows were swept and the windscreen flew. ” Source Dagblad Noorden