REUTERS/Stringer Southern People's Resistance militants loyal to Yemen's President Abd-Rabbu Mansour Hadi move a tank from the al-Anad air base in the country's southern province of Lahej March 24, 2015.
Houthi rebels are taking over larger and more strategic territory in Yemen. Houthi militia forces and allied army units seized Aden airport and a nearby air base on Wednesday, tightening their grip on the outskirts of the southern Yemeni city after President Abd-Rabbu Mansour Hadi fled his residence for a safer location.
And oil prices surged after the news that Saudi Arabia was bombing the Yemeni militias. WTI and Brent crude are up about 3.5% to $50.93 and and 3% to $57.95 per barrel respectively. It follows news that Saudi Arabia has begun bombing positions of Iran-backed Shiite rebels in Yemen, which is in chaos following the dismantling of its government by Houthi militia.
Jaguar Land Rover is investing £600 million in the
US oil giant Schlumberger will pay a hefty fine after violating US sanctions. Oilfiled services giant Schlumberger has entered plead guilty for violating sanctions in Iran and Sudan, according to the Department of Justice. Pending court approval, the company will pay $232.7 million "for conspiring to violate the International Emergency Economic Powers Act (IEEPA)."
Ford is aiming to triple exports from India with a $1 billion plant. Ford Motor Co has invested $1 billion (£671.9 million) in a new plant in western India which will help the automaker triple exports from the country, chief executive Mark Fields told reporters on Thursday.
Indonesia wants a big role in China's new bank, further embarrassing the US. Indonesia wants to play a major role in a new Chinese-led Asian infrastructure bank, with at least the vice-president's position reserved for the Southeast Asian country, the finance minister said. The move follows several European countries including the UK, though the US has warned against membership.
UK retail sales are coming. At 9.30 a.m. GMT (5.30 a.m. ET) we'll get a look at British retail sales in February - the strength or weakness will offer a key indicator into how the economy is performing. Analysts are expecting a solid 4.7% rise year-on-year.
A Chinese airline just placed a monster order with Boeing. Hainan Airlines Co Ltd , China's fourth-largest airline in fleet size, said on Wednesday it plans to order 30 Boeing Co 787-9 airplanes, valued at $7.7 billion (£5.17 billion) at list prices. The order would boost Boeing's 787 program backlog to 855 planes, and represents the biggest order this year for the jet.
Kraft's share price went through the roof. Shares rose 35.62% on Wednesday, soaring after a private equity buyout and merger with Heinz were announced.