Economy

Oil prices down sharply ahead of OPEC announcement

The price rise this year has spurred growth in the USA shale industry , which is not participating in the output deal, thus slowing the market's rebalancing with global crude stocks still near record highs. But oil prices tumbled 5 per cent on Thursday as the outcome disappointed some investors who had been hoping for deeper production cuts or a further extension. Read More

Continue Reading »

India boycotts China's global trade jamboree

India boycotts China's global trade jamboree

DIPLOMATS have voiced concern over China's ambitious "new Silk Road" plan, particularly over the transparency of the multi-billion dollar project, or apparent lack thereof. But numerous countries involved in the initiative - representing 60 percent of the world population and around a third of global gross domestic product - have poor records on corporate and political governance and there are fears China could run into trouble. Read More

Continue Reading »

Manchester attacker's younger brother arrested in Tripoli: spokesman

Soldiers were being deployed to key sites in Britain on Wednesday to prevent attacks after the terror threat level was raised to its highest level following a suicide bombing in Manchester that killed 22 people, including children. Abedi and another brother stayed behind to finish up school, the news service reported . French interior minister Gerard Collomb said Abedi had become radicalised after a trip to Libya and probably Syria, according to information received from British ... Read More

Continue Reading »

Blitzbokke dumped by England in London quarters

Blitzbokke dumped by England in London quarters

England and Canada followed that and the hosts were clearly up for the challenge, with dream-teamer Ollie Lyndsey-Hague executing a handsome goose-step to score under the sticks early on. On Saturday they accounted for Japan 33-7, Canada 19-14 and Fiji 27-21, a result which eliminated the Olympic champions. The Scots saw out a nervous final minute without too many alarms, Farndale running the ball out of play after the hooter. Read More

Continue Reading »

AT&T workers on strike across the country

Picketers were also at the retail stores in Boardman and Niles. "A strike is in no one's best interest, and it's baffling as to why union leadership would call one when we're offering terms in which our employees in these contracts - some of whom average from $115,000 to $148,000 in total compensation - will be better off financially", Richter said. Read More

Continue Reading »

Iraq, Algeria support extension of oil production cuts

Brent crude was up 57 cents, hovering at $50.79 per barrel, while US West Texas Intermediate jumped 61 cents to $47.94. Supply from the 11 OPEC members with production targets under the accord - all except Libya and Nigeria - fell to 29.674 million bpd last month, according to figures from secondary sources that OPEC uses to monitor output. Read More

Continue Reading »

Palestine, Israel must coexist: Modi

Palestine, Israel must coexist: Modi

The Palestinian leader will this evening attend a function at the India Islamic Cultural Centre in New Delhi. Many Western countries classify Hamas as a terrorist group over its failure to renounce violence, recognize Israel's right to exist, and accept existing interim Israeli-Palestinian peace agreements. Read More

Continue Reading »

Trump to Comey: "I hope you can let this go".

The Washington Post also published a report which alleged that Trump shared "highly classified" information with Russian Foreign Minister Sergei Lavrov and Russian ambassador Sergey Kislyak during a White House meeting last week. Rep. Adam Schiff, a Democrat from California and the ranking member of the House Intelligence Committee, also indicated he would utilize all the power at his disposal to obtain the reported memo. Read More

Continue Reading »

Sprint announces plans for commercial 5G deployment by 2019

Sprint announces plans for commercial 5G deployment by 2019

Both companies' share prices rose on the news, "as investors bet a deal may finally happen under Trump's administration's looser regulatory climate", Bloomberg reported . Neither Sprint nor T-Mobile ever commented publicly about the rumors at the time . "And so that is why we want to be open if there are any other possibilities with better conditions and better opportunities for this industry consolidation". Read More

Continue Reading »

Jakarta Governor found guilty of blasphemy, sent to 2 years' jail

Indonesia, 90 percent of whose 255 million people are Muslim , has a long tradition of pluralistic values and is home to substantial populations of Christians, Muslims and Buddhists. "Today is one of the darkest days in Indonesia", he added. Ahok and Djarot's term as governor and vice governor ends in October 2017. Despite the trial, Purnama retained a loyal following in Jakarta , due to his determination to clean up the traffic-clogged and polluted city. Read More

Continue Reading »

Australia's Big Four banks look to cut costs as challenges rise

A further tax office crackdown on multinationals is set to reap $4 billion this year, with other tax measures - including allowing fewer deductions for negative gearers - to boost revenue by $2.1 billion over four years. As announced in the lead up to the budget, schools will get an extra $18.6 billion over ten years. That amounts to $2.2 billion over the next four years. Read More

Continue Reading »

Hertz Global Holdings, Inc Shares Plummet As Q1 Earnings Miss Badly

Suntrust Banks Inc. now owns 12,822 shares of the transportation company's stock valued at $224,000 after buying an additional 434 shares during the period. Hertz Global Holdings (NYSE: HTZ ) last released its earnings results on Monday, February 27th. Shares of Hertz Global Holdings ( HTZ ) are tumbling today after reporting a much larger-than-expected loss after yesterday's market close. Read More

Continue Reading »

Patanjali notches Rs 10561 crore turnover

Patanjali notches Rs 10561 crore turnover

The group has a yearly turnover Rs 10,561 crore, out of which Ayurveda comprises Rs 9,346 crore, Divya Pharmacy Rs 870 crore, and Patanjali Gramodyog Rs 345 crore. He also said in a year or two, Patanjali would be the biggest brand in the country and would replace Chinese products sold in India. A jump from Rs 5000 crore revenues to Rs 10,216 crore in a year is no small feat, especially in the cut-throat FMCG sector. Read More

Continue Reading »

ICICI Bank Q4 net up at Rs 2025 cr

ICICI Bank Q4 net up at Rs 2025 cr

Bank of Maharashtra, the first public sector bank to announce its results for the fourth quarter, postedhistoric loss Rs 455 crore, indicating that the troubles of such banks due to mounting bad loans are far from over. But Kochhar expressed confidence that the asset quality for the bank will be better in FY18 than the previous fiscal. They said, "Overall pool of stressed loans is showing signs of stability, and bulk of NPA recognition is happening from watch list and OSRL". Read More

Continue Reading »

UFC creates 4th weight class for women, adding 125-pounders

UFC creates 4th weight class for women, adding 125-pounders

The announcement was met with praise by fellow women's fighters in the organization, including Lauren Murphy, who on Twitter expressed interest in competing in the upcoming season if the division becomes a reality. Tryouts for the show are now scheduled for Tuesday, May 23 at 8 A.M. PT in Las Vegas, Nevada. The promotion added a women's featherweight division to bantamweight and strawweight earlier this year. Read More

Continue Reading »

U.S. Trade Deficit Narrows in March

U.S. Trade Deficit Narrows in March

Canada's trade deficit with the world narrowed in March to Can$135 million (US$98 million), as exports led by energy and consumer goods hit a record high, the government statistical agency said Thursday. The data help explain how trade ended up making a slight contribution to economic growth last quarter, while highlighting the sometimes under-appreciated role of services in the figures. Read More

Continue Reading »

Secretary of Veterans Affairs visits Durham VA Friday

Secretary of Veterans Affairs visits Durham VA Friday

The executive order - Improving Accountability and Whistleblower Protections - will also create a task force to investigate fraud, waste and abuse in the department. "We're actually proactively reaching out to those veterans at highest risk of suicide", he said. "This is an example of why we need accountability legislation as soon as possible", Shulkin said in the release. Read More

Continue Reading »

Cooper Tire (CTB) Q1 Earnings amp; Revenues Miss Estimates

Cooper Tire (CTB) Q1 Earnings amp; Revenues Miss Estimates

The combined effects of price increase and weak demand impacted Goodyear's first quarter, which saw operating and net income fall on relatively unchanged sales. Zacks Investment Research cut shares of Goodyear Tire & Rubber Co from a "buy" rating to a "hold" rating in a research note on Monday. An RSI reading above 80 indicates that a stock is overbought while anything below 20 is oversold. Read More

Continue Reading »

Marissa Mayer will walk away from Yahoo with $186 million

Marissa Mayer will walk away from Yahoo with $186 million

Included in the figure is her golden parachute payout of $23 million, which largely consists of restricted stock. The amount is much higher than the $23m " golden parachute compensation" Yahoo detailed for Ms Mayer in March. With that having been said the CEO's payout consists of Yahoo stock, stock options and restricted stock units. Mayer and other top Yahoo executives won't be part of the newly formed Internet company envisioned by Verizon, which will be called Oath . Read More

Continue Reading »