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Crude marches on

Crude marches on

Private equity firm CD&R readies Morrisons counter-bid.

  • U.S. West Texas Intermediate and international benchmark Brent crude oil futures finished higher, led by the global benchmark which topped the $75 a barrel level, putting it in a position to challenge its July top at $76.
  • Private equity firm Clayton, Dubilier & Rice is poised to start a bidding war for the British supermarket chain Morrisons, the target of an $8.8 billion offer from a U.S. group.
  • China’s role as a key driver of the Australian dollar is being re-evaluated in global markets, helping send the currency to levels well below where traditional modelling suggests it should be.

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