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Saudi stocks rise on oil output cut

US West Texas Intermediate (WTI) crude futures rose 85 cents, or 1.8%, to $47.90. Brent crude oil futures rose 5.9% and settled at $48.69 per barrel. "I'm very optimistic that OPEC members would reach a consensual agreement to restore stability to the up-and-down oil market", Noureddine Bouterfa had said on Sunday.

Business

Nifty breaks 8600, Sensex falls 500 pts as India strikes Pakistan

Asian shares traded mostly lower this morning, with Japan's Nikkei index falling as much as 1.6 percent, as the dollar turned lower against the yen and the summary of opinions expressed at the Bank of Japan's September 20-21 meeting showed some board members have given up on attaining the 2 percent inflation target.

Business

Fed's Yellen: Big U.S. bank conditions have improved 'considerably' since crisis

Her first anecdotes reflected back on the Great Recession while acknowledging the capacity to handle regulatory requirements can vary greatly. Yellen said in earlier testimony on September 27 she had "absolutely no awareness" of Brainard's reported contact with the Clinton campaign about a job.

Business

Indian Army men targeted by Pak Army at LoC

It said that such inadvertent crossing by Army and civilians was not unusual on either side and they are are returned through existing mechanisms. "The operations were focused on ensuring that terrorists do not succeed in their design to cause destruction and endanger the lives of our citizens", Singh said.

Business

Ringgit opens lower on falling oil prices

The Organization of Petroleum Exporting Countries agreed to cut production to a range of 32.5 million to 33 million barrels a day after talks in Algiers on Wednesday. Portfolio manager Craig Jerusalim questioned whether a production freeze is enough to drive up oil prices permanently. As a result, analysts don't expect three-digit oil prices anytime soon.

Business

Burger Singh offers whopping 30% discount in celebration of Army's surgical strikes

Islamabad-based diplomatic sources, however, told The Indian Express that Chauhan had been captured by Pakistani troops at Jhandroot, west of Mankote, and was now being kept at the military headquarters in Nikayal. The Army said special commandos crossed the LoC last night, conducted the operation in the Pakistan-Occupied Kashmir (PoK) and returned to the Indian side without any casualty.

Business

Let's talk: Is failed wind energy to blame for the SA blackout?

Deputy Prime Minister Barnaby Joyce blamed South Australia's rush to renewables for the blackout when speaking to the ABC on Thursday, saying: "the question has to be asked, is [South Australia's] overreliance on renewable energies exacerbating their problems and their capacity to have a secure power supply?" Two tornadoes ripping through the centre of our state, destroying not one, not two but three elements of critical infrastructure.

Business

China's richest person warns of real estate bubble

Wang is keen to develop the group's sports business and said that the group was "determined to be a global leader" and the deal - whose exact financial details were not disclosed - also includes the commercial rights to four worldwide tournaments.

Business

Mother killed in train crash had recently moved from Brazil

It is NJ Transit's fifth-busiest station with 15,000 people boarding there weekdays, according to the The Associated Press. "I heard panicked screams, and everyone was stunned". New York Gov. Andrew Cuomo said it's too early to know whether PTC technology could have made a difference. Over the past 20 years, the NTSB has listed the lack of positive train control as a contributing factor in 25 crashes.

Business

Castile shooting investigation goes to Minnesota prosecutors

The Minnesota Bureau of Criminal Apprehension (BCA) has completed its investigation into the officer-involved death of Philando Castile. Ramsey County Attorney John Choi said in a press release that the office will conduct a thorough review of the BCA investigation and also will work as efficiently as possible.

Business

Clinton says Trump may have violated US law on Cuba

Trump's campaign manager Kellyanne Conway took to Twitter with denials that he has done business in Cuba. This could really come back to bite Trump in the swing state of Florida. The new interpretation under Clinton allowed the Office of Foreign Assets Control ( OFAC ) to approve "more or less 6,000" licenses for individuals and groups to travel to Cuba in the late 1990s.

Business

Petronas to review Canadian LNG project after approval - CEO

Before the project is built, Petronas has to re-do its math on LNG to decide whether the project makes business sense. The project, led by Malaysia's state-owned energy giant Petronas, would ship an estimated 19 million tonnes of liquefied natural gas (LNG) per year to Asian markets from a port near Prince Rupert, B.C.

Business

Oil Prices Slip as Investors Wonder Whether OPEC Deal Will Be Enough

The highest growth of 5.08 percent was registered the day after the deal was reached. "While the initial response to the agreement was positive, there are crucial questions to be answered by the organization in the coming weeks", said Tamas Varga, oil analyst at London brokerage PVM Oil Associates.

Business

Economy Watch: No Rate Hike Now, But Possible in December

Those currencies also benefited from risk-on sentiment bolstered by the Fed's apparent lower interest rate path, analysts said. "Gently backing the economy away from such imbalances has proven to be very hard in the past". The timing and the pace of future Fed interest rate hikes will certainly influence the trajectory of gold prices going forward, with future rate hikes expected to negatively impact prices.

Business

Financial sector expands use of blockchain databases

Blockchain software is the basis of bitcoin, first developed in 2009, and acts as an automatic public ledger for transactions, primarily financial transactions. Fifteen percent of banks and 14 percent of financial market institutions interviewed by IBM intend to implement full-scale, commercial blockchain products in 2017.

Business

Oil Prices Down On Profit-Taking After Two-Day Jump

That fall largely came from a boom in USA shale oil and countries like Saudi Arabia keeping their production high to hold onto market share. The drilling rig count, while only a quarter of its 2011 peak, has already clawed its way back to 511, up 107 rigs since the low point in May, according to drilling giant Baker Hughes.

Business

Fed's primal divide: Is economy overheating or stuck in a rut?

If Yellen thought that she was grilled by USA lawmakers, then Wells Fargo's CEO John Stumpf will likely be in for a rough ride. The Fed last week voted 7-3 to keep its key interest rate where it has been all year. But she said other tools might be necessary, including expanding the range of assets it would purchase. "The (Obama) administration, my experience has been, greatly respects the Fed's independence to make decisions in accordance with the Fed's mandate".

Business

Timeline of Nathan Carman's interactions with police

A Coast Guard crew picked up Nathan from the freighter in a 45-foot medium response boat and brought him back to Base Boston , where he was reunited with his family. Police there say Carman had been a suspect, but was never charged. Police have searched Carman's home in Vernon, Vermont , and he has been questioned about what happened.

Business

Unease As Duterte Visits Vietnam

Duterte said his comments were to serve notice to the USA that this is "the last one", though State Department officials insisted they hadn't been formally informed of that. Duterte said on Monday that he would open up all avenues of trade and commerce for China and Russian Federation, adding that he is about to "cross the Rubicon between me and the United States".

Business

Opec agrees to oil production cuts

Venezuelan President Nicolas Maduro said on Thursday he expects non-OPEC oil-producing countries, like Russian Federation, to support OPEC's efforts to boost oil prices by reducing crude output. The deal would need to be agreed to by OPEC members at their planned Vienna meeting in November. Analysts and onlookers were uniformly skeptical of the news coming out of Algiers on Wednesday, where OPEC met to discuss a new production cut.

Business

NJ Transit Train Crashes At Hoboken Station, Multiple Injuries Reported

The busy commuter train did not slow down as it came into the station around 9am, hitting a concrete block at such speed that it jumped into the air and damaged the ceiling of the station, witnesses say. U.S. railroads are under government orders to install positive train control, a safety system created to prevent accidents by automatically slowing or stopping trains if they are travelling too fast.

Business

Transit worker: Train went airborne after crash

The New Jersey Transit train that crashed Thursday approached the station at three times the typical 10 miles per hour approach speed, sources tell Eyewitness News. "There's only one option for people who don't have a auto to get out of Hoboken right now, and that's the bus", Murphy said. In December 2013 in NY a suburban train derailed in the Bronx while traveling at several times the speed limit, leaving four people dead and more than 60 injured.

Business

India hits at Jihadi bases inside Pakistan

It has demanded New Delhi produce credible evidence to back its claims. The top spokesman for the Pakistani military slammed the Indian account of its action as "totally baseless and completely a lie". India blamed the attack on Pakistan, which denied the claim. LT. Gen. Ranbir Singh said militants were planning to attack areas of disputed Kashmir and railway stations of other cities in India.

Business

Pakistan military captures 1 Indian soldier

Prime Minister Nawaz Sharif condemned what he called the "unprovoked and naked aggression of Indian forces", adding that the military was capable of thwarting "any evil design to undermine the sovereignty of Pakistan". India had stood up to its righteousness by speaking about the same with Pakistan. Most people in the Indian-controlled portion favor independence or a merger with Pakistan.

Business

Surgical strike or cross border firing?

Meanwhile, India's military said it had carried out "surgical strikes" along the border to thwart attacks being planned against cities. The Indian Army sources confirmed later via Twitter that one Indian soldier, belonging to the 37 Rashtriya Rifles, has in fact inadvertently crossed to the other side of the LoC.

Business

Investigators seek answers after fatal NJ train crash

They will want to know what the operator was doing before the crash and whether the person was distracted, said Bob Chipkevich, who formerly headed the NTSB train crash investigations section. Trains were expected to have PTC by the end of 2015, however Congress extended the deadline to the conclusion of 2018. The New City resident said he caught the 7:16 a.m.

Business

Arizona Republic receives death threats after endorsing Hillary Clinton

For 120 years - from 1892 to 2012 - this newspaper's editorial board has never endorsed a Democrat in a general election. In Arizona, Republic editors said they have a deep "philosophical appreciation for conservative ideals" but that Mr.

Business

Yahoo Confirms Details of Massive Data Breach

In that disclosure, Yahoo said the information was stolen from its network in late 2014 by a "state-sponsored actor". The size of the attack on Yahoo was unprecedented compared with other corporate breaches such as at eBay Inc in 2014 which involved personal data of 145 million users.

Business

Oil eases as market doubts Opec output cut agreement

That would be down from August's production rate of 33.2 million barrels a day - but it would shave only 700,000 barrels a day, some 2 per cent of overall production. "That's not only because OPEC is a notoriously fickle and unreliable institution - in other words, it's not the first time that the market has heard promises of some kind of cap - but that the new daily output range is more like a freeze than an actual cut in production".

Business

OPEC members agree to freeze output

Traders have warned, however, that oil futures face significant volatility in the next two months, with regional stocks likely to follow suit, as producers attempt to hammer out the details of a more comprehensive deal in time for Opec's next formal meeting in Vienna at the end of November.

Business

Matthew now fifth hurricane of Atlantic season

Hurricane Matthew became the fifth hurricane of the 2016 Atlantic hurricane season on Thursday, but it's still unclear if it will eventually pose a threat to the U.S. Vincent say a 16-year-old boy was crushed by a boulder as he tried to clear a blocked drain. Dominica Prime Minister Roosevelt Skerrit told people on that island, where tropical storms have turned deadly in the past, to stay indoors as heavy rain caused flooding in some areas.

Business

New Jersey Mayor Says One of 5 Devices Found Explodes

The news comes as five people were arrested in Brooklyn, 24 hours after Saturday night's bombing in New York's fashionable Chelsea district, in which 29 people were injured . Monday. New York's emergency management department says that New Jersey-bound Amtrak trains are being held at New York Penn Station. New Jersey Transit service trains resumed service on the Northeast Corridor and North Jersey Coast Line at 5.30am Monday, but they faced residual delays because service was suspended ...

Business

Letters: Readers react to first presidential debate

Trump has questioned Clinton's looks and stamina, so she hit back in brutal fashion. Her answer was a terse, "No". Clinton has experienced a slight bump from her well-received performance. "You want to know the truth?" I have to believe, as Mrs. Obama gets her hair done, puts on another flawless outfit and reviews her remarks, she can't shake the nagging feeling: Holy shit, I cannot believe I actually have to do this .

Business

Oil Prices Jump On Chance Of Another US Draw, Norway Strike Supports

Brent crude futures were up 80 cents, or 1.8 per cent, at US$46.68 per barrel by 11:03 am EDT (1503 GMT). Oil prices were up as much as 2 percent on Wednesday after a third surprise weekly drop in USA crude stockpiles helped assuage fears over a global oil glut.

Business

End of an era for Blackberry

Though we'll still see the BlackBerry logo on mobile devices, however, they won't be designed or manufactured by the company. Blackberry has struggled in recent years as first Apple took a stranglehold on the smartphone sector and then handsets operating on Google's Android platform, especially the likes of Samsung, proved hugely popular.


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