March 9, 2017 / 5:05 PM / 9 months ago

Business Watch: Stubborn bulls

Oil bulls wave white flag

The Wall Street bull is seen in the financial district in New York, U.S., March 7, 2017. REUTERS/Brendan McDermid

Investors trying to push the crude market higher finally gave up, triggering the biggest rout in a year on worries that high inventory levels won’t budge despite cuts.

U.S. creude oil slumped below $50 a barrel on Thursday.

Eight and counting

Wall Street marked eight years of bull market which showed no sign of letting up.

Alibaba’s cash rush

Chinese e-commerce giant Alibaba is in talks with banks to raise $5 billion in new funding, sources told Thomson Reuters’ Basis Point.

Not all that glitters...

Bond guru Bill Gross told investors to not be ‘allured’ by the ‘Trump bull market,’ in case the new administration falls short on its promise to enact economy-friendly policies.

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