Markets

Oil rises as countries join OPEC cuts, U.S. inventory falls

Oil rises as countries join OPEC cuts, U.S. inventory falls Industry group American Petroleum Institute reported that crude prices also gained support by the fall in U.S. inventory, a 5.8 million barrel decline. Rising pump prices have followed on higher prices for crude oil. "That is exactly what we got yesterday as the report showed falling stocks of oil and fuel combined with lower imports", he said. [Full Article...]

Mnuchin Says U.S. Reserves Right To Be Protectionist

Treasury Secretary Steven Mnuchin said Saturday that the United States reserves the right to be protectionist on trade. Recalling his discussions with Mnuchin and other G-7 counterparts, Aso said he thinks Mnuchin "has mostly erased concern that (the new US administration) may transform free trade into protectionism". [Full Article...]

Oil rises on falling U.S. stockpiles, Saudi cuts to Asia

Oil rises on falling U.S. stockpiles, Saudi cuts to Asia Amid this announcement, oil prices rose on Thursday, with benchmark Brent crude trading comfortably above $50 a barrel after a fall in USA inventories and a bigger-than-expected cut in Saudi supplies to Asia helped tightened the market. "U.S. tight crude output is expected to rise rapidly and increase by 600,000 bpd in 2017", OPEC said, using anther term for shale. Further, the EIA upgraded its ... [Full Article...]

Merkel's Christian Democrats beat rivals in German state election

But the result was well short of its own ambitions to emerge as the third political force in North Rhine Westphalia. Schulz, who held more than 30 rallies in the state, hopes that his push for "social justice" will resonate in NRW, which has lagged behind western Germany economically. [Full Article...]

Chuck Schumer Threatens To Boycott FBI Confirmation If No Special Prosecutor Named

Chuck Schumer Threatens To Boycott FBI Confirmation If No Special Prosecutor Named Lee's comments were a sharp split from Virginia Democratic Sen. On Sunday, the senator again called on Trump to release his tax returns. Senate Minority Leader Charles E. Adam Schiff believes Attorney General Sessions' meetings with candidates for FBI Direc... McCabe joined the Federal Bureau of Investigation more than 20 years ago. [Full Article...]

Oil Prices Turn Corner After WTI Dips Below $45

It took months for Opec and non-members to reach a deal, though oil-producing states started to suffer from ultra-low prices which slumped to 27.26 USA dollars per barrel (£21.07) in January 2016. Iraq on average exported between 80,000 and 160,000 tonnes of fuel oil per month in 2016, data collected by Thomson Reuters Oil Research showed. Brent crude futures , the worldwide benchmark for oi... [Full Article...]

Sessions ends Obama-era leniency on sentencing

But Sessions seems determined to try to reverse that course with a "lock-'em-up" posture that has been proven to be ineffective in combating the nation's drug problem. Attorney General Jeff Sessions has issued a memo to all 94 USA attorneys to advise them of a new charging and sentencing policy within the Department of Justice. [Full Article...]

Trump tapes? If they exist, they could spell trouble

Trump tapes? If they exist, they could spell trouble While Trump's abrupt firing of FBI Director James Comey roiled Washington, Republicans who attended the national committee's spring meeting outside San Diego this week defended the president's actions and insisted that they would have little political impact on midterm elections next year. [Full Article...]

Top Story of the Week: Snap Inc. Bombs First Earnings Release

Top Story of the Week: Snap Inc. Bombs First Earnings Release Measured per user, revenues were three times higher than in the same quarter a year ago but 14% lower compared to the previous three months. For a guy who just lost about a quarter of his net worth, Snap co-founder Evan Spiegel exuded confidence on his first earnings conference call, explaining away the company's shortcomings and even throwing shade at his bigger - and far more successful - ... [Full Article...]

Fairfax's NZ business included in takeover bid

Fairfax's NZ business included in takeover bid The media company said it was reviewing the latest offer. The Fairfax board said shareholders do not need to take any action in response to the proposal, and it will provide an update once it has fully assessed the bid. The Fairfax Board of Directors is reviewing the Revised Indicative Proposal. The fresh offer from TPG and partner Ontario Teachers' Pension Plan Board (OTPP) would allow shareh... [Full Article...]

Bank of England Says Smooth Brexit Could Mean Faster Rate Increases

The Bank of England has put record low interest rates of 0.25 per cent on hold again as its Monetary Policy Committee (MPC) slightly cut the nation's growth forecast for 2017. Usually Bank of England inflation forecasts show inflation falling steadily back to target. Ben Brettell, senior economist at Hargreaves Lansdown, says: "Unsurprisingly interest rates were left unchanged, with just Kristin... [Full Article...]

SpaceX launches Falcon 9 rocket from Kennedy Space Center

SpaceX launches Falcon 9 rocket from Kennedy Space Center Another Falcon 9 is being prepared to launch a commercial satellite from Kennedy Space Center as soon as May 15. It will put into orbit a classified satellite for the US National Reconnaissance Office , an agency within the Defense Department that operates the nation's spy satellites. [Full Article...]

Resign today or will drag you to Tihar: Mishra threatens Kejriwal

Resign today or will drag you to Tihar: Mishra threatens Kejriwal On 9 May, Mishra filed CBI complaints against Chief Minister Arvind Kejriwal over allegations of corruption and also against his relatives and some AAP leaders, hours after he posted an open letter to the Chief Minister. Mrs Lekhi said, AAP misled public and broke their trust and people of the national capital are fed-up with Delhi government. Mishra, however, has refused to get admitted, Salam sa... [Full Article...]

Chibok girl to be reunited with family after three years

While the Chibok Girls plight was well publicised with figures such as Michelle Obama calling for their release, there are thousands more victims of Boko Haram . FILE- In this Monday May. 8, 2017 file photo, Chibok schoolgirls, recently freed from Nigeria extremist captivity, are photographed in Abuja, Nigeria. [Full Article...]

Israel to revoke Arabic's official language standing in occupied territories

If the bill eventually becomes law, Arabic would be defined as having special status, Israel's Haaretz newspaper reported . It has to pass several rounds of legislation in parliament for it to become law. Acting committee chair, Tourism Minister (Likud) Yariv Levine explains that it was pushed through committee to bring an end to delays, which surrounded machlokes on the bill's wording and th... [Full Article...]

Trump open to increasing gas tax

Trump open to increasing gas tax Spokespeople for Walker and Vos didn't respond to a request for comment on Trump's openness to raising the federal gas tax. For high-income owners, that rate is now 39.6 per cent, and reducing it to 15 per cent would be a major tax cut. [Full Article...]

Oil Extends Slump Below $45 as U.S. Shale Confounds OPEC's Cuts

Oil Extends Slump Below $45 as U.S. Shale Confounds OPEC's Cuts The contract lost US$2.30, or 4.8 percent, to close at US$45.52 on Thursday. The drop is the result of continued concerns of oversupply and persistent production glut despite previous assurances from Saudi Arabia that OPEC together with Russian Federation will get supply under control. [Full Article...]

Trump suggests he may cancel all White House press briefings

President Trump's unconscionable decision to fire the director of the F.B.I.in the middle of his investigation of the Trump team's tangled web of Kremlin dealings prompted calls for the deputy attorney general to appoint an independent prosecutor.The Russia inquiry should certainly continue. [Full Article...]

New South Korean president vows to address North Korea, broader tensions urgently

He has said he would be prepared to go to Pyongyang "if the conditions are right". The conversations were dominated by how to respond to North Korea's rapidly developing nuclear and ballistic missile programs, which are in violation of U.N. [Full Article...]

Dollar steady with eyes on Fed for rate clues; kiwi higher

Dollar steady with eyes on Fed for rate clues; kiwi higher Going into Wednesday's meeting the markets were putting the chances of another quarter-point rate rise in the June 13th-14th meeting at more than 66 per cent, according to an analysis of futures trading from CME Group. However, there is still uncertainty as to whether the economy is really on track for the Fed to raise interest rates twice more this year and to begin reducing its balance sheet, ei... [Full Article...]


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