Reuters - Before the Bell

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Thursday, June 13, 2019

Oil surges after Gulf tanker attacks, stocks claw higher

Suspected attacks on two tankers off the coast of Iran saw oil markets erupt out of their recent slump on Thursday and kept traders gobbling up ultra-safe government bonds, gold and the Japanese yen.

Alibaba files for HK listing that may raise $20 billion as soon as third quarter: source

China's biggest e-commerce company Alibaba Group Holding Ltd has filed confidentially for a Hong Kong listing that could raise up to $20 billion as early as the third quarter of this year, a person with direct knowledge of the matter said.

Danone CFO says China's baby formula plan 'not a surprise'

China's plan to increase local production of baby formula products has not come as a surprise to global dairy maker Danone, which has plans to launch a new ultra-premium product in that market, said Danone's chief financial officer.

Pilot shortages, unsold planes weigh on ATR deliveries: sources

Franco-Italian turboprop maker ATR is tackling a slump in deliveries resulting from a combination of industrial delays, unsold aircraft and pilot shortages, industry sources said.

Tesco CEO not ready to check out in tough UK retail climate

The boss of Tesco said he had unfinished business at Britain's biggest retailer after its quarterly sales growth slowed in a subdued grocery market under a cloud from poor early summer weather.

China's 'Gen Z' shoppers fuelling luxury market momentum: Bain

Chinese "Gen Z" shoppers in their early 20s are emerging as an increasingly powerful force in the luxury industry as brands try and tap into buoyant demand for high-end goods in the world's second-biggest economy, consultancy Bain said on Thursday.

Exclusive: Petrobras ignored warnings about fuel broker implicated in graft probe

Brazil's Petrobras found suspicious activity in its oil trading business - and failed to stop it - six years before an alleged bribery scandal erupted in that unit in 2018, according to three people with knowledge of the situation and documents seen by Reuters.

Chinese vice premier urges more support for economy amid trade war

Chinese regulators should step up support for the economy and keep ample liquidity in the financial system, Vice Premier Liu He said on Thursday, suggesting Beijing would soon unveil more policies to bolster growth amid rising U.S. trade pressure.

China, Hong Kong homebuyers play cross-border musical chairs in Bay Area

An ambitious plan to transform the industrial towns of China's Pearl River Delta into a modern economic zone powered by new technology ventures has triggered a rush of cross-border property investments between Hong Kong and the mainland.

Airbus delivers first A350 to Japan after landmark deal

Airbus delivered its first A350 aircraft to Japan Air Lines on Thursday, saying the specially tailored version would start operating on Japan's busy domestic routes.