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Business

Brent crude and WTI: Oil tumbles after USA oil stocks unexpectedly rise

Saudi Arabia's previous production high was 10.56 million (bpd) in June 2015. OPEC president Dr Mohammed Bin Saleh Al-Sada said that since February this year, oil prices experienced a steady improvement following a decline in crude oil production, supply outages and a fall in oil inventories.

Business

First private moon mission cleared for departure

If Moon Express would be successful in its mission, it could pave the way for other companies to start mining the moon for resources such as iron ore, water, rare earths and precious metals. The mission will be the first time a private enterprise has been given approval to operate beyond Earth's orbit, and could be a watershed in worldwide attitudes to commercial space exploration.

Business

Knox wins Travelers title by one shot

Not only didn't it go in, he lost in a playoff. After parring No. 17, Knox put his drive on No. 18 deep in the rough and his second shot in a bunker. He didn't tear his shirt off, but did send his hat flying in celebration. "I felt like the Incredible Hulk", he quipped. "I could have ripped my shirt off".

Business

Tesla suffers higher losses in second quarter

Wall Street had expected a non-GAAP loss of 59 cents a share, according to analysts polled by FactSet Research Systems Inc. They were last up 1 per cent. The Model 3 is Tesla's attempt to widen its market appeal with a more affordable auto. Baird Equity Research still has faith in Tesla's technology and innovation.

Business

Shake Shack Restaurant Sales Disappoint, Stock Drops

The transaction was disclosed in a document filed with the SEC, which is available through this link . Shake Shack shares have risen nearly 3 percent since the beginning of the year. The company stock was initiated at Underperform, wrote analysts at Wedbush, in a research note issued to clients on Thursday July 07, 2016. Shake Shack (NYSE:SHAK) traded down 1.71% during trading on Wednesday, hitting $40.87.

Business

European stocks rise on BoE boost, ahead of U.S. data

Oil prices rose for a second straight day and US crude advanced firmly above the $40 a barrel mark on short-covering and after a modest stockpile drop at the delivery hub for USA crude futures. United Kingdom government bonds due to repaid in 10 years time saw their yield - the amount of interest paid - fall to a record low. USA interest rate futures suggest investors now see a 40 percent chance of a Fed rate hike by December.

Business

Tax rate will be optimum: Jaitley

The government is likely to introduce the Constitution Amendment Bill on GST in Lok Sabha early next week, as the Finance Ministry is gearing up to implement the tax measure from April 1 next year. Moody's said the new GST structure follows a dual taxation model with powers granted to the central and state governments to tax both goods and services under a common structure.

Business

Interest rates unchanged in Rajan's last monetary policy update

On Tuesday, Rajan said the central bank remains "accommodative" and is seeking "space for policy action". With the 4 per cent medium-term term target, the RBI brass was working with short-term milestones like achieving 5 per cent by March 2017, he said.

Business

IRS Phone Scam Dupes Manassas Man

Pottstown police said one local woman received two calls within a few minutes, the first from a person claiming to be with the IRS. The caller ID on her phone even read "Borough of Pottstown". "If you people send them money, usually by wire, then it's gone", explained Skinner. If the complaint involves someone impersonating the IRS, include the words "IRS Telephone Scam" in the notes.

Business

Ryan on Trump comments: Sounds like a 'joke gone bad'

The Clinton campaign immediately seized on Trump's remarks, criticizing the New Yorker for instigating violence. Republican presidential nominee Donald Trump holds a campaign rally in Wilmington , North Carolina where he discussed the important of America's second amendment on Tuesday (August 9).

Business

Mom 'madly in love' with own son after reuniting

She told MailOnline: "The law states that if you are mother and son, you can not have any type of sexual intimate relationship". As is typical of GSA, family members who reunite after having been separated for some time can develop the bond of a couple as opposed to a platonic relationship.

Business

McDonald's to remove corn syrup from buns, curbs antibiotics in chicken

Mike Andres , president of McDonald's U.S., said the changes to its supply chain had posed challenges but he was pleased with the progress. Finally, McDonald's this month is rolling out new buns that no longer contain high-fructose corn syrup.

Business

Trump criticized for offhand gun rights slap at Clinton

Senator Kaine's comments come after Trump faced a storm of backlash for his implication on how voters should prevent Secretary Clinton from appointing Supreme Court Justices if she's elected to the presidency. "To buy that, you have to be corrupt because if you said that to me, I would say to you: 'Are you out of your mind?'" he said. Hillary wants to take your guns away.

Business

Valeant offers to increase lender interest payments in exchange for amendment

However, in an interview with Reuters , Papa said that management would not rule out the possibility of going further. The company also had $19.26 billion of senior notes. The maker of Bausch & Lomb contact lenses and toenail fungus fighter Jublia said its turn-around plan includes boosting sales of its dermatology, eye care and gastrointestinal medicines; improving its pipeline of experimental drugs in those categories, and using its cash more efficiently.

Business

USA stock indexes edge mostly lower in early trading

The Nasdaq was coming off a record high close on Tuesday. A rally since late June has taken the S&P 500 up over 6 percent in 2016, as continued low interest rates encourage investors to buy US equities, although many investors are concerned about high valuations.

Business

Alibaba Group Holding's (BABA) "Overweight" Rating Reiterated at Morgan Stanley

For the next 5 years, Alibaba Group Holding Limited is expecting Growth of 3.76% per annum, whereas in the past 5 years the growth was 0% per annum. On technical side, moving averages may help to distinguish direction of tendencies, and they might also be used to set levels of sustenance and resistance.

Business

Revenue Update on Press Ganey Holdings Inc(NYSE:PGND)

Analysts predict that Press Ganey Holdings will post $1.14 EPS for the current fiscal year. Avondale Partners cut Press Ganey Holdings from an "outperform" rating to a "market perform" rating in a report on Wednesday. Baird downgraded its target price on Press Ganey Holdings (NYSE:PGND) shares issuing the company with a "Neutral" rating. Press Ganey reported revenue of $91.2 million for the three months ended June 30, 2016, a 17.8% increase from the same period of the prior year.

Business

Walmart to buy Jet.com for $3bn

Which leads to the obvious question: How does this acquisition help Wal-Mart put a bigger dent in Amazon .com Inc.'s (NASDAQ: AMZN) hegemony in e-commerce? Wal-Mart said that it will acquire Jet.com for $ 3 billion in cash in a move that the retailing giant hopes will accelerate e-commerce growth that CEO Doug McMillon has already said was too slow.

Business

When Hillary Clinton's human suit malfunctions

When asked about what Trump's millions of supporters, who are often drawn to language she and others have called racist and sexist, says about the electorate, Clinton said that while some people were backing the businessman because of his "bigotry", she acknowledged that many were motivated by economic hardships.

Business

Saudi Arabia tells OPEC its oil output hit record high in July

Energy Information Administration (EIA) said. U.S. West Texas Intermediate (WTI) crude futures fell 68 cents, or 1.6 percent, to $42.09 per barrel by 11:20 a.m. Meanwhile, non-OPEC oil supply keeps dropping. Venezuela, a member of the Organization of the Petroleum Exporting Countries ( OPEC ), is trying to drum up support for a producer meeting to decide measures that would buoy oil prices.

Business

On Deck Capital Inc. (ONDK) Downgraded to Hold at Vetr Inc

Stifel Nicolaus' price objective would suggest a potential upside of 45.35% from the stock's current price. Chardan Capital began coverage on On Deck Capital in a research report on Thursday, August 4th. Finally, Geode Capital Management LLC increased its stake in shares of On Deck Capital by 7.2% in the first quarter. On Deck Capital has a one year low of $4.20 and a one year high of $12.85.

Business

Musk: Tesla is chugging along despite recent production snags

The company blamed "steep production ramp, which resulted in nearly half of Q2 production occurring in the final four weeks of the quarter" for lower-than-expected deliveries (read: It's All About Production: Tesla ETFs to Ride on Q1 Results).

Business

Delta struggles through third day of computer problems

By 6:55 a.m., the company reported that the computer problems caused by the power outage were affecting the airline's operations around the world, with " large-scale cancellations expected". Airlines have particular challenges because their systems are constantly undergoing changes and additions, including automation to handle the large volume of transactions with customers.

Business

Tesla Makes $2.6 Billion Offer for SolarCity

The merger will create a new sustainable energy company, which will develop residential, commercial and grid-scale products that enhance the way that energy is generated, stored and consumed. A Tesla electric auto is parked on an overlook with a view of Tesla's Gigafactory 1 facility in Nevada. The company said it hopes to close the deal at the end of this year.

Business

Rajan Holds Rates Steady in Final RBI Policy Review

The 9 August statement is Rajan's last monetary policy announcement before his term ends in September. The central bank has retained its March 2017 inflation target of 5 per cent with upside risks. "The MPC would be entrusted with the task of fixing the benchmark policy rate (repurchase rate) required to contain inflation within the specified target level", a Finance Ministry statement said after the inflation target was notified.

Business

Tesla Motors discloses $1.1 bln in cash needs

Tesla also focuses on non-GAAP results, which adjusts for employee stock-based compensation and other items, and that loss equaled $1.06 a share in the three months that ended June 30, compared with a loss of 48 cents a year earlier. Musk said Model X suppliers "had generally gotten their shit together", however, he said he would visit a supplier soon to address an anonymous concern.

Business

Sterling Nurses Wounds After BoE Measures

The dollar bounced back a bit from Monday's five-week low against a basket of six major currencies as investors looked to Friday's payrolls data. He also unveiled a raft of other stimulus measures, including $131 billion of funding to help commercial banks cut their lending rates.

Business

Gunmen Abduct American, Australian In Kabul

Kabul police chief Abdel Rahman Rahimi confirmed the kidnapping to ABC News . The State Department said it was aware of reports an American had been kidnapped but did not provide further comment. At least two other foreigners, from Germany and the Netherlands, were taken from the same neighbourhood in separate incidents a year ago. Four gunmen wearing police uniforms were involved in the abduction, according to a Western official in Kabul .

Business

Nasdaq closes at record high

The Dow Jones industrial average fell 40.95 points, or 0.22 percent, to 18,492.1, the S&P 500 lost 6.5 points, or 0.3 percent, to 2,175.24 and the Nasdaq Composite dropped 26.05 points, or 0.5 percent, to 5,199.43. The benchmark S&P 500 briefly erased gains in afternoon trade, as energy lagged. "The market just keeps grinding along and moving in the same direction", said Lee Ferridge, head of macro strategy for North America at State Street Global Markets.

Business

China city suspends search for nuclear fuel facility

The Lianyungang protests highlighted local opposition to nuclear projects across China, which is increasing its atomic power capacity on a huge scale and encouraging state-run firms to build plants overseas. The plant would be operated by Areva. La Hague takes the plutonium out of spent uranium burned in EDF's French plants, which Melox blends with uranium to produce new fuel rods for pressurised water nuclear reactors.

Business

Furyk sets PGA Tour record with round of 58

But it was Furyk, who was born in West Chester and graduated from Manheim Township High School, who held the spotlight about five hours earlier. The magic number on the PGA Tour has always been 59, a score accomplished just six times in competitive play.

Business

Delta cancel hundreds more flights

An electrical problem at its Atlanta headquarters early Monday morning, forcing the airline to cancel around 1,000 flights yesterday. "The airline is forcing consumers to dance to Delta's tune instead of making passengers whole", says Mr.

Business

(PRGO) Is Sharply Lower After Q2 Profit Disappoints

For the quarter ended July 2, Perrigo posted a profit of $194 million, or $1.35 a share, more than double last year's profit of $56 million, or 38 cents a share. A number of equities research analysts recently weighed in on the stock. Analysts' estimates typically exclude special items. The company indicates a peak revenue level of 1.37B and 1.51B at bottom level.

Business

JD.com revenues within expectations as growth decline set to continue

That's impacting companies across the board and placing emphasis on overseas growth, with JD.com courting global brands with the promise of reaching China via its platform. The company suffered a net loss of 132.1 million Yuan or $19.92 million in the second quarter. Its free cash flow hit a record of RMB 8.1 billion for the quarter and RMB 11.0 billion for the previous year of operations, and its JD.com Mall marketplace increased its operating margins almost three-fold.

Business

Gazprom First-Quarter Profit Falls

Part of the increased raw materials cost came as a result of Gazprom having taken control of a group of natural gas trading and storage companies. The EU has been trying to reduce its reliance on Russian gas amid tensions with Moscow over the Ukraine crisis.


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