Economy

Kuwait adds to growing consensus on OPEC oil output deal extension

Oil prices jumped 2 per cent yesterday after the energy ministers of the world's two biggest producers, Saudi Arabia and Russian Federation, jointly said that a crude production cut needed to be extended from the middle of this year till March 2018. [Full Article...]

EasyJet shares hit by £212m interim loss

As of 09:28 BST, easyJet's share price had lost 5.88 percent to 1,233.00p, underperforming the broader London market, with the benchmark FTSE 100 index having climbed into positive territory and now standing 0.28 percent higher at 7,475.37 points. [Full Article...]

Greece: EU demands for more cuts provoke general strike call

The latest round of austerity measures, which form part of an agreement between the Greek government and worldwide bailout lenders, will involve additional pension cuts in 2019 and higher income tax in 2020. The protests come in support of a general strike called by the General Confederation of Employees of Greece (GSEE) and the Executive Civil Servants' Associations (ADEDY) on May 17. [Full Article...]

Amazon Echo gets touch screen, video calling

Amazon Echo gets touch screen, video calling Unlike other devices in the Echo range, which focus on streaming music and making phone calls through voice commands, the Echo Show features a built-in 7ins touchscreen to stream videos and view photographs. No other video call apps work yet, but it's possible it may be updated to work with Skype or Google Duo in the future. For news and information you can see and hear, just ask Alexa for... [Full Article...]

Home Depot's profit, comp sales beat amid strong housing market

Since the start of the New Year, The Home Depot , Inc. Over the trailing year, the stock is outperforming the S&P 500 by 1.08, and it's gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. [Full Article...]

Skechers USA Inc (SKX) Announces Earnings Results, Beats Estimates By $0.05 EPS

The last session's volume of 6.49 million shares was higher than its average volume of 2.28 million shares. BlackRock Inc. boosted its stake in Skechers USA by 3,136.5% in the first quarter. The legal version of this report can be accessed at https://baseballnewssource.com/markets/skechers-usa-inc-skx-posts-quarterly-earnings-results-beats-estimates-by-0-05-eps-updated-updated/632592.html. [Full Article...]

Ransomware attack should be wake-up call for govts

But given that WannaCry infected 200,000 computers before it was stopped, and other, similar viruses are already starting to spread, it's a good idea to familiarize yourself with what it looks like. Machines that contained the patch are much less at risk than those that didn't. India's cyber security agency today asked individuals and organisations to shield themselves from a digital worm that... [Full Article...]

European markets mixed: oil prices bounce back

European markets mixed: oil prices bounce back European shares rose on Monday helped by a bounce in oil prices and fresh dealmaking activity, while a global hacking attack boosted shares of software security firms. A cybersecurity exchange-traded fund ISE jumped more than 3 per cent, while London-listed shares in cloud network security firm Sophos popped more than 7 per cent higher to hit a record level. [Full Article...]

MTA Hands Out 'Baby on Board' Buttons to Pregnant Straphangers

MTA Hands Out 'Baby on Board' Buttons to Pregnant Straphangers According to NY transit officials, "As with London's system and many other MTA "Courtesy Counts" messages (such as "Don't Be a Pole Hog" and "Stop the Spread"), this awareness campaign will be self-enforced and not linked to any penalties". [Full Article...]

Snap Inc: SNAP Stock Plummets 23% as Investors Write-Down Q1 Financial Results

The shares closed at $22.98 on Wednesday, but are likely to sink on Thursday following the 23% fall in after-hours trading to $17.65. On average, analysts were expecting first-quarter revenue of about $169 million, but Snap reported revenue of just $150 million. [Full Article...]

Elliott steps up pressure on BHP to ditch petroleum

Elliott steps up pressure on BHP to ditch petroleum The hedge fund said on May 16 that the mining giant can remain incorporated in Australia but must review its petroleum business. The Melbourne, Australia-headquartered mining company has already rejected calls from Elliott to spin off and list its United States oil business, claiming that it has conducted reviews of the unit on two occasions and found that a sale would undermine BHP's diversif... [Full Article...]

EIA increases Kazakhstan's oil output forecast

Oil prices slipped to the pre-OPEC output cut level in early May on worries over brimming USA supplies. The Saudi oil giant made a decision to cut oil supplies to the Asian market in June by around 7 million barrels, a source told Reuters , as part of a wider OPEC agreement to help buoy prices. [Full Article...]

Delta Air Lines testing facial recognition tech for self-service bag drops

The machine allows passengers to bypass check-in agents. Delta will test four of the machines at Minneapolis-St. However, when Customs and Border Protection used facial recognition to try catching imposters a few years ago, it said that photos would be deleted once its experiment concluded. [Full Article...]

Trump shared secret info about IS with Russians

Trump shared secret info about IS with Russians LIASSON: Well, in this blockbuster report by The Washington Post , what is alleged is that when President Trump met with the Russian foreign minister and the Russian ambassador in the Oval Office he shared information, classified information, that could lead the Russians to figure out sources and methods. [Full Article...]

Despite steep fall in inflation HSBC doesn't see rate cut soon

Despite steep fall in inflation HSBC doesn't see rate cut soon The price of clothes also rose to the highest level for six years, climbing by 1.1% between March and April after falling by 0.4% a year ago. Higher electricity and clothing prices were somewhat offset by lower motor fuel prices, however the underlying inflation figure does indicate some inflationary pressures in the economy with the core CPI print increasing to 2.4%. [Full Article...]

Ford Motor to slash global workforce by about 10%

That source spoke on the condition of anonymity because they were speaking about as-yet unannounced company business. Ford Motor is set to cut about 10 per cent of its global employee headcount in an effort to boost profit and its sliding stock price, the Wall Street Journal reported on Monday (May 15). [Full Article...]

Oil up on falling U.S. inventories, Saudi cuts to Asia

The development came after Iraq and Algeria joined Saudi Arabia in supporting an extension to OPEC supply cuts. OPEC boosted estimates for growth in rival supplies by 64 percent as the US oil industry's recovery accelerates, threatening the group's attempts to clear a surplus. [Full Article...]

Oil Jumps as Saudi Arabia Voices Support for OPEC Deal Extension

Energy ministers from the two countries said on Monday that supply cuts should be prolonged for nine months, until March 2018. That is longer than the optional six-month extension specified in the deal. American oil explorers are using double the number of rigs they deployed a year ago, and the nation's production is rebounding. Even if the production cuts are extended at next week's meeting, ... [Full Article...]

Oil prices back in the $40s, sink to 5-month low

Oil prices back in the $40s, sink to 5-month low They did say current output cuts were likely to be extended. USA crude fell 4.41 percent to $45.71 per barrel and Brent was at $48.66, down 4.19 percent on the day. Concerns over demand led to a broad drop in commodities Thursday, as metal prices also fell on lackluster economic data from China, a major commodities consumer. [Full Article...]

New cyber chaos appears to have been avoided: Europol

Governments and businesses across the world braced for new ransomware attacks on Monday after cyber security experts warned that malware could be activated as computers are turned on following the weekend. Greenwich Mean Time on Monday. "An equivalent scenario with conventional weapons would be the United States military having some of its Tomahawk missiles stolen", Smith wrote . [Full Article...]


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