Oil prices soared on Monday, with Brent crude posting its biggest intra-day percentage gain since the Gulf War in 1991, after an attack on Saudi Arabian oil facilities on Saturday shut about 5% of global supply.
The United Auto Workers (UAW) went on strike at General Motors just after midnight Sunday and about 48,000 hourly workers at its facilities are headed for the picket lines in the morning, union officials said early Monday.
Oil surged to four-month highs on Monday after weekend attacks on crude facilities in Saudi Arabia sparked supply fears, while shares in Asia extended losses as bleak economic data from China sapped investors' appetite for riskier assets.
German lighting group Osram advised its shareholders on Monday to accept a 4.3 billion euro ($4.8 billion) takeover bid from AMS and sell their shares to the Austrian sensor specialist, saying the offer was economically attractive.
Oil prices surged on Monday, with Brent crude posting its biggest intra-day percentage gain since the Gulf War in 1991, after an attack on Saudi Arabian oil facilities on Saturday shut over 5% of global supply.
Governments worldwide may need to follow U.S. President Donald Trump's move to tap emergency oil stockpiles if top exporter Saudi Arabia is unable to quickly repair the damage inflicted by attacks on its energy industry on Saturday.
Shares in Airbus and other key French exporters fell on Monday as Europe and the United States edged closer toward tit-for-tat sanctions in a long-running dispute over aircraft subsidies.
South Korea's LG Display Co Ltd on Monday said it has named LG Chem President Jeong Ho-young as its new chief executive officer.
An attack on Saudi Arabia that shut 5% of global crude output caused the biggest surge in oil prices since 1991, after U.S. officials blamed Iran and President Donald Trump said Washington was "locked and loaded" to retaliate.
U.S. Energy Secretary Rick Perry said on Monday he believes the oil market will react positively to the weekend attack on Saudi Arabia's oil industry, which Washington has blamed on Iran.
Oil prices climbed to four-month highs on Monday and world stocks slid after weekend attacks on crude facilities in Saudi Arabia shut about 5% of the world's supply and fueled worries over the impact of an oil shock on economic growth.
Oil prices surged nearly 20% at one point on Monday, with Brent crude posting its biggest intraday gain since the Gulf War in 1991, after an attack on Saudi Arabian oil facilities at the weekend halved the kingdom's production.
Austrian sensor specialist AMS is actively buying Osram shares and currently holds a stake of almost 3% in the German lighting group, its chief executive said on Monday.
Allianz Global Investors , the biggest shareholder of Osram , is prepared to sell its stake to chipmaker AMS in the course of its 4.3 billion euro ($4.75 billion)takeover attempt if no better bid is made, a source said on Monday.
The attacks against oil refineries in Saudi Arabia have so far had no impact on prices at filling stations in Germany, the country's Petroleum Industry Association said on Monday.