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US lifts ban on deep water drilling

The U.S. is back in the deep water oil-drilling business. The question now is when work will resume. The Obama administration, under heavy pressure from the oil industry and Gulf states and with elections nearing, lifted the moratorium…

China’s trade surplus falls to $16.9b

The gap between China's imports and exports narrowed in September, official data has shown. But analysts say the decline is unlikely to ease the pressure on Beijing to strengthen its currency. The US has been among its strongest critics,…

Asia stocks gain

Asian stock markets rose Wednesday after the Federal Reserve signaled that it is all but certain to take steps to boost the U.S. economy and Japan's machinery orders unexpectedly grew. Oil prices rose above $82 a barrel as a weaker U.S.…