10 things you need to know in markets today

FILE PHOTO: A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen during a meeting of OPEC and non-OPEC countries in Vienna

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FILE PHOTO: A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen during a meeting of OPEC and non-OPEC countries in Vienna
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Thomson Reuters

Good morning! Here’s what you need to know.

1. Here are the 35 brightest stars in UK fintech. Everyone on the list works in Britain and is under 35 years old.

2. Yelp renewed a European antitrust complaint against Google. It is seeking to gain traction on a longstanding accusation that the search giant unfairly promotes its own services in results.

3. US households are feeling more stable and small businesses are making money, the Federal Reserve said in a survey. Both are reporting that economic conditions have been getting better and the expectation is for the good times to continue.

4. Argentina and Britain are analyzing five South American airlines’ proposals for new flights between the Falkland Islands and Argentina. Two of the carriers are based in Chile, two in Brazil and one in Uruguay.

5. OPEC may decide to raise oil output as soon as June due to worries over Iranian and Venezuelan supply, Reuters reported. Gulf OPEC countries are leading the initial talks on when the exporting group can boost oil production to cool the oil market after crude rose above $80 a barrel last week.

6. Moscow has a negative view of US sanctions against Venezuela’s state debt and will not comply with them. Venezuela on Monday said new US sanctions restricting its ability to liquidate state assets and debt in the United States were “illegal measures.”

7. Saudi Arabia has arrested at least three more women’s rights activists in a widening crackdown just weeks before a ban on women driving is set to end. Rights groups last week reported the detention of seven activists, mostly women who previously campaigned for the right to drive and an end to the kingdom’s male guardianship system.

8. BP plans to cut 3% of jobs in its exploration and production, the Financial Times reported. The oil major would cut about 540 jobs from its 18,000-strong upstream workforce over the course of this year, the report said.

9. Royal Dutch Shell shareholders approved Chief Executive Officer Ben van Beurden’s €8.9 million package by a majority of 75%. The 2016 remuneration resolution won the support of more than 92% of shareholders.

10. China should downgrade its ties with Australia, including cutting imports to underscore Beijing’s unhappiness at recent anti-China sentiment, a state-run paper said on Wednesday. Relations between the two countries have cooled since late 2017 when Turnbull’s government proposed a bill to limit foreign influence in Australia.