Economy
Senate Goes After Flynn's Businesses After He Snubs Subpoena
Brennan, who was President Barack Obama's Central Intelligence Agency director, said he couldn't say whether there was collusion between Russian Federation and the Trump campaign, an issue being investigated by congressional committees and now a federal special counsel. [Full Article...]
United Kingdom concert attack: Images of bomb released as police tighten net
Abedi was in Libya for three weeks and returned days before his attack, US military officials assigned to US Africa Command told CNN. The attack injured 116 people, of whom 75 were admitted to hospital and 23 remain in a very serious condition, health authorities said. [Full Article...]
OPEC to extend output cuts, to set up OPEC-India Working Group
This time also, Opec led production cut will support a further jump in the USA production. "The move, which was then ratified by non-OPEC producers , was the base-case scenario for the market and means the 1.8 million barrel per day supply cut will roll over until the first-quarter of 2018". [Full Article...]
OPEC meets to extend oil cuts for up to one year
Equatorial Guinea has become the 14th member of the Organization of Petroleum Exporting Countries (OPEC). Oil weakened after OPEC was said to agree to extend output cuts for another nine months, disappointing investors who had hoped for more. [Full Article...]
OPEC says it will extend production cuts through March 2018
In December, the Opec agreed its first production cuts in a decade and the first joint cuts with non-Opec producer nations, led by Russian Federation, in 15 years. " Russia has an upcoming election and Saudis have the Aramco share listing next year so they will indeed do whatever it takes to support oil prices", said Gary Ross, head of global oil at Pira Energy, a unit of S&P Global Platts. [Full Article...]
China Business Agreement on Natural Gas, Poultry and Beef Has Finalized
Declaring the USA relationship with China is hitting a new high, Commerce Secretary Wilbur Ross announced Thursday an agreement between the two countries on 10 trade issues. Exports of beef and gas were unlikely to shift the balance of trade in a big way, Evans-Pritchard said. "We will be reaching out to our state's beef community to ensure that we continue to position Nebraska to pl... [Full Article...]
OPEC and Russia have failed to fix the epic oil glut
The comments signal a determination to work with Saudi Arabia and other OPEC allies to support prices for crude, their economic and political lifeblood. This proved to be a key factor in the country securing exemption from OPEC's landmark 2016 deal to curb a global supply overhang. Shares in Asia are higher after an overnight advance on Wall Street spurred by the latest meeting minutes from th... [Full Article...]
Moody's cuts China's rating on debt fears
SHANGHAI May 25 Hong Kong shares followed Asian markets higher on Thursday, even after Moody's downgraded Hong Kong's local and foreign currency issuer ratings shortly after cutting China's ratings on Wednesday. China's economy has been fueled since the 2008 financial crisis by unregulated and risky lending tied to state-owned banks and enterprises, leading to a pile of questionable and murk... [Full Article...]
Date for next OPEC meeting set for November 30
While OPEC has worked hard in recent years on improving communication to ensure the right message is delivered to financial markets , Thursday's experience showed the 14-member group and its non-OPEC allies still have a long way to go. QUOTEWORTHY: "The extent of oil's selloff demonstrates that, even with the extended production cuts now agreed, the US oil price may struggle to get past the ear... [Full Article...]
Barrick Gold Corp (ABX) Rating Reiterated by Royal Bank of Canada
It has outperformed by 7.71% the S&P500. 1832 Asset Management L.P. increased its position in Barrick Gold Corp by 11.4% in the third quarter. "Lost its Mojo?" on May 01, 2017. BABA belongs to Services sector and Specialty Retail, Other industry. Pnc Financial Svcs Gru Incorporated has 0% invested in Sun Communities Inc (NYSE:SUI) for 2,598 shares. [Full Article...]
Chance of showers, thunderstorms in Colorado Springs through Memorial Day weekend
Temperatures across some areas of the Northwest will be 10 to 20 degrees above normal. Friday will bring mostly cloudy skies to round out the week, along with a 50 percent chance of showers. Mostly cloudy, with a low around 62. The slow moving front will keep the chance for showers and storms in the forecast for Tuesday and Wednesday . [Full Article...]
US economy grows at tepid 1.2%; business spending softens
The revision for the first quarter reflected a boost in consumer spending to an annual rate of 0.6 percent , still the slowest in seven years but up from an initial estimate of 0.3 percent. Finally, government spending subtracted 0.20 percentage points from real GDP, ending two quarters of positive contributions, with reduced spending at all levels. [Full Article...]
Stable gas prices expected to boost Memorial Day road trips
And while pump prices are up slightly from previous year at this time, USA drivers will enjoy the second-cheapest gasoline since 2005. Regular gas prices are averaging $2.18 a gallon on the Missouri side of the metro area and $2.23 a gallon on the Kansas side, said Mike Right, AAA spokesman. [Full Article...]
Pakistan presents new $50 billion development-heavy budget
Fifthly, Dar noted a rise in tax revenue by 86 percent from 1,946.4 billion rupees in 2013 to 3,621 billion rupees in 2017. The robust construction activities also led to an increase in demand for steel and allied products, according to the survey. [Full Article...]
Oversold: Oil traders punish OPEC for promising too much
On Thursday, ministers from Opec and non-Opec oil-exporting countries agreed to extend existing production cuts for a further nine months to the end of March 2018. CFTC data showed that in the week ahead of the OPEC meeting, hedge funds raised bullish bets on USA crude for the first time in five weeks. That could increase supplies and push down prices. [Full Article...]
No ban on slaughter of cattle for consumption: Kummanam
He also alleged that with the BJP government at the centre including cow slaughter within the purview of Prevention of Cruelty to Animals 1960, BJP is trying to enforce "Sangh Parivar agenda". The Centre should have consulted with the states and sought their opinion before coming with the notification, he was quoted in a statement as saying. [Full Article...]
Deutsche Bank AG Raises easyJet plc (EZJ) Price Target to GBX 1125
About 462,186 shares traded. Vodafone Group Plc (ADR) (NASDAQ:VOD) has risen 6.00% since April 18, 2017 and is uptrending. It has by 0.00% the S&P500. BNP Paribas maintained the stock with "Outperform" rating in Wednesday, April 13 report. On Friday, October 7 the stock rating was initiated by Goldman Sachs with "Buy". [Full Article...]
Ministers plan to push ahead with trans-Pacific trade pact
New Zealand's Trade Minister Todd McClay is mobbed by reporters at the end of the meeting of TPP11, gathering all Tran-Pacific Pact (TPP) member countries except for the United States of America, held on the side-lines of the Asia-Pacific Economic Cooperation meeting in Hanoi, Vietnam , 21 May 2017. [Full Article...]
OPEC moves towards 9-month output cut extension
Brent crude dropped by $2.60, to $51.36 a barrel, while West Texas Intermediate dropped by $2.58, to $48.78 a barrel. United States light crude was 90 cents lower at $50.46. In December 2016, OPEC and non-OPEC producers reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices. [Full Article...]
Commodity Weekly: OPEC's Announced Cut Extensions Fail To Buoy Markets
Much of the responsibility will, therefore, continue to fall on Russian Federation to secure the non-OPEC production cuts. But one problem, according to analysts, is that Saudi Arabia and Russian Federation initially deepened the glut by ramping up their exports just before the November agreement. [Full Article...]