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Business

Michael Kors comparable store sales drop more than expected

In the three months that ended July 2, Michael Kors reported net income of $147.1 million, or 83 cents per share. Kors' sales at stores open more than a year fell 7.4 percent in the first quarter, a drop bigger than the 4.7 percent analysts on average had expected, according to research firm Consensus Metrix.

Business

Oil trades near $45 as glut overshadows hope for producer action

In 2017, a further drop to 55.9 million bpd is expected, OPEC said, due in part to further falls in production by United States shale oil producers, who need a higher oil price than the current $45-50 to survive. Oilfield services company Baker Hughes posted fresh U.S. rig count data last Friday for the week of August 5, which showed an increase of 7 rigs to 381, the sixth straight week of a rig-count increase.

Business

Michael Phelps' epic stare down

Michael Phelps has 25 Olympic medals overall and he still has two more events to compete in. The only thing missing was a weigh-in and Don King. Just 30 minutes after his epic finish to claim gold number 20 in the 200m butterfly, Phelps anchored his U.S.

Business

Ranieri rewarded with new contract at EPL champion Leicester

I can't believe that we can repeat but we will try. Steve Bruce stood down as manager in July after growing frustrated with the club's inactivity in the transfer market, with 18-year-old goalkeeper Will Mannion still the only signing made despite the departure of Mohamed Diame, Ryan Taylor and Sone Aluko and an injury crisis that has claimed Allan McGregor, Alex Bruce, Moses Odubajo and Michael Dawson among its victims.

Business

Crude Weakens as API Shows Significant Increase in Weekly Inventory Report

Japan's Nikkei 225 added 0.1 percent to 16,786.03 and South Korea's Kospi added 0.2 percent to 2,046.57. Stocks in Australia , Taiwan and the Philippines were higher. Other Opec officials have suggested that an output freeze deal could be discussed at an already scheduled meeting in September, however Russian Federation has said it doesn't see any grounds for holding production at current levels.

Business

Walmart is buying Jet.com for $3 billion

The Wall Street Journal reported last week that Wal-Mart was in talks to buy the online discount retailer. In 2015, Amazon reported net sales of $107 billion, while Walmart's online sales came to $13.7 billion, compared to its total sales of $482 billion.

Business

Southern Railway Strike To Go Ahead Next Week

Southern said on Tuesday morning its services continued to run well, with nine out of 10 trains reaching their destinations on time so far. Passengers were taking to social media this morning to complain about the industrial action, with hundreds of trains cancelled across the network.

Business

Australia says no apology to China in doping row

Exiled Chinese political cartoonist Wang Liming, known by his online nickname Biantai Lajiao (Perverted Chili Pepper) said he thought the problem lay with Sun's attitude. Yeung said Beijing's blocking of fully democratic elections in Hong Kong in 2014, and its attempts to impose "patriotic education" in the former British colony's schools were partly to blame.

Business

New Int'l Aid Scandal: UN Employee Helped Hamas in Gaza

According to Israel's Shin Bet security agency, Waheed Borsh, 38, an engineer for the UN's development agency, sent resources to Hamas and kept the terror group out of trouble with the worldwide organisation, the Times of Israel reported.

Business

Trump on criticism of 2nd Amendment comments: 'Give me a break'

Her comments come as 50 former national security officials who worked for Republican presidents since the 1950's released a letter saying if elected, Trump would be "the most reckless president in American history" and said they can't vote for him.

Business

Opponents Accuse Trump of Calling for Clinton's Assassination

If so, then you'd understand that this is the kind of dark, sarcastic son-of-a-bitch thing you'd say to outdo your siblings (except you'd phrase it way better and your delivery would be impeccable, believe me). "And people who cherish the Second Amendment have a very clear choice in this election". And indeed, the Trump campaign did try to spin its way out of the hole Trump had dug.

Business

China producer deflation eases in July

China's producer price index declined 1.7% in July from a year earlier, compared with a 2.6% on-year drop in June. Food prices added 3.3 percent in July, lower than the 4.6-percent gain in June, while prices of pork rose by a slower 16.1 percent against the 30.1-percent jump in June.

Business

You'll soon be able to fly from Toronto to Niagara

Greater Toronto Airways will be offering 12 minutes flights between Niagara and Toronto starting September 15. While it can't replace the daily drive for those who commute, Diodati says flying is an option for some - especially those who need to be in Toronto for an early meeting or those looking to avoid lengthy drives on the QEW during summer weekends.

Business

Indian bonds continue to gain post RBI monetary policy decision

He also appeared to blame "over-leveraged promoters" for voices against the clean-up at banks and said "some public sector bank CEOs with a short remaining tenure would prefer not taking stern action and recognizing NPAs" as they might "prefer transferring any problems to their successor".

Business

Trump stirs controversy with remarks on gun rights

John Podhoretz, of the New York Post , tweeted: "That Second-Amendment folks want to shoot politicians they don't like is, let me just say, not a classic Republican theme". Supreme Court judges with " Second Amendment people " and added that it would be a "horrible day". He claimed that Mrs Clinton wanted to "essentially abolish the Second Amendment" - despite her repeatedly saying that she supports the right to own guns but backs some stricter controls.

Business

India slaps anti-dumping duty on steel products from 6 nations

Earlier, Nirmala Sitharaman, India's Commerce and Industry Minister, says that an anti-dumping investigation is underway on imports of various steel products exported from China, Japan, Russia, Korea, Brazil and Indonesia. Korean firms attracting the ADD are Hyundai Steel Company and Posco. Ltd, Metal One Corp. and Sumitomo Corp. will also be subjected to a duty of $474 per tonne.

Business

Starbucks starts selling Lyft gift cards next week

Furthermore, Lyft passengers can earn Starbucks Rewards "stars" by using the service. For the first time, you'll be able to purchase $20 Lyft cards to use for your morning commute. Granted, if the idea here is that riders will go to a Starbucks , buy a gift card, order a free drink, and then hail a ride, we at The Drive aren't not too sure how well this will actually go down.

Business

Inflation target: Rajan says over to new Guv, MPC

However, the central bank maintains that it is still in a acomnmodative mode. A rate setting panel is to follow soon, completing the biggest overhaul of the 81-year-old central bank. During the past three years, Rajan has steered clear of demands for a rate cut, drawing criticism from sections of the industry and some politicians.

Business

Oil down 1% as global glut offsets United States crude draw forecast

The group's kingpin saw its production rise in July by 30,100 barrels a day to 10.48 million barrels a day, based on OPEC's secondary sources such as shippers, analysts and industry executives. US crude for September was down 24 cents at $42.78. According to Baker Hughes Inc., the number of rigs now drilling for oil in the USA has been on the increase for 6 consecutive weeks.

Business

Railing collapse at Snoop Dogg, Wiz Khalifa concert injures 42

Fans at Saturday's " I Love the 90s " concert featuring Salt N Pepa , Vanilla Ice and other performers told FOX 29's Sabina Kuriakose they trust everything is now safe. Mongeluzzi said the accident reminded him of a 1998 railing collapse at Veteran's Stadium in South Philadelphia. She estimated that as many as 50 people were injured, but officials said the total was between 10 and 15.

Business

Endo International Plc: ENDP Stock Gets a Helping Hand from Par Pharmaceutical

For the full year, Endo forecasts sales in the range of $3.87 billion and $4.03 billion - which is pretty much in the realm of the consensus. As for net income, Endo's reported $390 million translates into per-share earnings of $1.75.

Business

Asian shares near 1-year high, dollar slips after soft US data

The JPX-Nikkei Index 400 shed 0.2 per cent to 11,833.82. China's Shanghai Composite Index finished down 0.2 per cent. That prompted investors to cut long-term inflation expectations and bets the US Federal Reserve will hike interest rates later this year.

Business

USA takes gold in the men's 4x200m freestyle relay

Phelps won the 200-meter fly by four one-hundreths of a second, hitting the wall at the 1:53.36 mark. He had his 20th and 21st gold medals. In fact, it was the Japanese swimmer Masato Sakai who nearly caught Phelps, the American winning in 1min 53.36sec just four hundredths of a second ahead of second spot.

Business

Most Recent Analysts Ratings: Boston Scientific Corporation (NYSE:BSX)

Without ever trading a single share of stock, without buying an option and Without ever touching a mutual friend. The 50 day moving average of NYSE: BSX is 23.42 and the 200 day moving average is 20.46. now has a consensus rating of "Buy" and a consensus price target of $24.70. The stock established a negative trend of -5.88% in last week and indicated fall of -1.87% in previous month.

Business

European stocks rise on BoE boost, ahead of United States data

It also delivered a £170-billion ($227-billion) stimulus package that surprised many analysts. In addition, the BoE extended its quantitative easing programme by £60 billion, launched a £10 billion corporate bond purchase scheme and pulled the trigger on credit easing, with a new funding scheme for banks.

Business

India may set policy rates by panel in October: RBI's Rajan

Overall, we expect inflation to average 5 per cent, GDP to grow at 7.9 per cent and the RBI to deliver another rate cut of 25 basis points this fiscal. We don't see sign of any person having been chosen. "It is appropriate for the Reserve Bank to keep the policy repo rate unchanged at this juncture, while awaiting space for policy action".

Business

Oil Leaves $40 After Dropping Into Bear Market on Oversupply

However, other analysts said recent price falls were overblown, with Citi saying bears, who speculated on falling prices, had "gone wild in oil at $40". The commodity-sensitive loonie also felt the pinch, losing 0.19 of a USA cent to 76.40 cents US. Oil rallied from 12-year lows of $26-$27 in the first quarter to nearly $53 in June, boosted initially by expectations, later dashed, that OPEC would freeze output and later by supply outages.

Business

United States stocks edge higher in early trading; oil up further

ANALYST'S TAKE: "News that OPEC would be having a September meeting with certain members keen to push for supply cuts again served as the impetus for oil prices to rally". The stock added $2.42 to $24.87. ROUGH SEAS: Shares in two of the biggest cruise line operators were down. Sada said the recent decline in price was "more of an outcome resulting from weaker refinery margins, inventory overhang - particularly of product stocks, timing of Brexit and its impact on the financial futures ...

Business

USA special ops troops in Libya´s Sirte

American and Libyan officials told the Post that these members of the special forces are coordinating American airstrikes and providing intelligence information in an effort to oust the group from a militant stronghold. Italian media sources said that the Italian Government made a decision to open its airspaces for the American jets and to use Naval Air Station Sigonella in Sicily to carry air raids on the IS location in Sirte.

Business

Musicians Union votes to dump Jeremy Corbin

If it loses the appeal, Labour is likely to have to refund the £25 supporter fee paid by new members at a potential cost of several million pounds and will have to work out how to stop those individuals having a duplicate vote. A spokesman for the Jeremy for Labour campaign congratulated the new members on their election and thanked those who lost their seats or failed to get elected.

Business

France takes Eventing team gold, Jung takes individual title in Rio

With Burton picking up eight faults to finish fifth Jung sealed the title with a glorious clear round. Astier Nicolas and Piaf de B'Neville took silver after knocking over a fence and picking up two time penalties on Tuesday. Mathieu Lemoine (Bart L) had the last two fences down, but with other nations also suffering problems, they won by 3.8 penalties. With the luxury of the full four-rider team, the French looked comfortable after rounds from both Karim Laghouag with Entebbe and Thibaut ...

Business

Markets Right Now: Stocks closing flat on Wall Street

The Dow Jones Industrial Average ended the day flat, but it's worth noting that the index is less than 100 points away from the all-time record it set last month. MORE OF LESS: The Labor Department said American workers' productivity unexpectedly fell at an annual rate of 0.5 percent in the second quarter. Oil prices are now trading just above $42 per barrel.

Business

Oil prices down as OPEC meeting awaited

USA stock indexes edged higher in early trading Tuesday, following gains in global stock markets as slack Chinese consumer price figures stoked expectations of more stimulus. ROUGH SEAS: Shares in two of the biggest cruise line operators were down. Chemours added $1.23, or 13.2 percent, to $10.54, while Vivint gained 34 cents, or 10.7 percent, to $3.53.

Business

Brazil coach defends Neymar ahead of decisive Denmark game

Two years ago Brazil was thrashed 7-1 by Germany in the semifinal of the home World Cup. Manchester City's new £27 million (RM141.26 million) signing Gabriel Jesus has also endured a nightmare tournament, missing gilt-edged chances in both games and insists he doesn't care how Brazil go through as long as they finally find the net.

Business

American company makes $1.4 billion offer for Whistler-Blackcomb

Before it's here, it's on the Bloomberg Terminal. Whistler Blackcomb will nominate one member of its board to the Vail board of directors, and Dave Brownlie, Whistler's CEO, will continue as chief operating officer of the resort and will become a member of the senior leadership team of Vail Resorts' mountain division.


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