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Oil holds above US$50 as investors weigh production cut pact

The Organization of the Petroleum Exporting Countries (Opec) plans to implement a 500,000 to 1 million barrels per day production cut after a meeting on Nov 30. North Sea Brent crude futures were at $52.23 a barrel, up 55 cents, or 1 per cent. By region, EIA said imports from members of the Organization of Petroleum Exporting Countries increased by 504,000 barrels per day, making up the bulk of the new oil entering the USA economy.

Business

Microsoft stock hits all-time high

Microsoft reported Azure revenue rose 116% year-over-year (or YoY) with the growth coming to 121% YoY on a constant currency basis. "Cloud is growing significantly and Azure represents incremental new revenue", said Mark Moerdler, an analyst at Sanford C.

Business

Nissan CEO Ghosn is chairman of Mitsubishi Motors, shares surge

Only now has the deal been finalized, and with Mitsubishi now part of the Renault-Nissan Alliance, it's time to turn Mitsubishi's frowns upside down. Ghosn oversaw the revival of the ailing Nissan brand after the alliance was formed in 1999 by smashing decades-old keiretsu deals (favourable corporate partner structures that are common amongst large Japanese businesses), closing factories and consolidating supply chains and auto platforms.

Business

Unemployment rate doesn't budget, but employment rises in Nebraska

Since September past year, there are 11,385 fewer unemployed Arkansans, the bureau said. The U.S. unemployment rate inched up to 5 percent in September, compared to 4.9 percent in August. Trade, transportation, and utilities (+200 jobs). Leisure and hospitality claimed the largest job gain over the year, adding 5,500 jobs in Oklahoma.

Business

Fed's Rosengren signals December rate hike seems 'appropriate'

Although Fed policymakers disagree on whether the current 1.7 percent inflation rate is sufficiently close to their 2 percent objective, many voting members remarked that "there were few signs of emerging inflationary pressures."Since the meeting, Chair Janet Yellen and several other Fed policymakers have said they expect a rate hike by year-end should the labour market and inflation continue to strengthen .

Business

Oil slips as profits taken from strong rally

U.S. crude oil stocks fell last week as refineries continued to run down inventories during a seasonally slower period, while distillate inventories fell and imports dropped , the U.S. This is the sixth fall in inventories in seven weeks. The contract yesterday declined US$1.29, or 2.5 per cent, to US$51.38 a barrel. International Brent crude futures were trading at $52.41 per barrel, down 26 cents.

Business

Boat with some kids aboard capzised in San Francisco

Original reports said some of the juveniles reportedly were trapped under the hull. All of the victims are doing well, according to fire officials. Several Coast Guard assets and partner agencies responded to a capsized sailboat in the San Francisco Bay, Saturday, Oct.

Business

First Calais 'jungle' children with no United Kingdom links arrive in UK

No one would claim that the camp is a good place for these children. It can be hard to tell-the great majority of unaccompanied minors, who hail largely from Eritrea , Sudan , Afghanistan and Somalia, have arrived in Europe without a single identity document.

Business

Summary of Price Movements: Advance Auto Parts Inc.'s (AAP)

It has traded in a 52-week range between $225.12 - 292.84 and today's last price is 5.05%% lower than the 52 week high of $292.84. RBC Capital Markets reiterated an "outperform" rating and issued a $174.00 target price (down from $180.00) on shares of Advance Auto Parts in a research report on Thursday, September 8th.

Business

South Florida jobs up, unemployment down in September over year ago

The national unemployment rate increased in September from 4.9 to 5 percent. Greenville County's rate dropped half of a percentage point, to 4.2 percent, fourth-lowest in the state. The Inland Empire posted a gain of 6,600 jobs in September compared with the 10,800 that were added in August. Echoing past jobs reports, Virginia added more jobs than either of its neighbors to the north, but Maryland's employment base seems to be growing more quickly.

Business

Saudi's Falih says oil markets at end of downturn

On Monday , after almost a year of cooperating, the company sued in a Texas federal court to block the subpoenas from New York and Massachusetts, Inside Climate News reported . Falih said that OPEC's plan to freeze or even cut production along with several leading producing countries, including Russia, will help reduce a huge overhang of supplies and stimulate new investments in the sector.

Business

British American Tobacco seeks to buy Reynolds American

They referred to a gain in BAT's stock since Britons opted for Brexit in June and a fall for Reynolds, which brought their trading multiples closer together. The proposed merger is subject to Reynolds's endorsement, and approval by BAT and Reynolds shareholders. The stock's strength is also due to geopolitical uncertainty in recent months leading investors to seek out stable, dividend-yielding stocks like tobacco and other consumer staples.

Business

Skyler Howard helps WVU improve to 6-0

West Virginia's win at Texas Tech last week was a decisive confirmation of the Mountaineers' win-loss record. Who's left? There's Baylor , which breezed through its typically cushy non-league slate but could still backslide after an offseason of transition and scrutiny.

Business

Download Android 7.1 Developer Preview OTA and Factory Images

Pixel phones get Android version updates for at least 2 years from when the device became available on the Google Store [.] After 2 years, we can't guarantee additional updates. App shortcuts API - lets you surface key actions directly in the launcher and take your users deep into your app instantly. Android N Beta users can expect another preview of the new software to roll out in November before the final version gets pushed out in December.

Business

Economists Expect Fed Rate Increase in December

But given that inflation was still running below their 2 percent target and there was little sign of rising wage pressures, they voted to hold off. "In contrast, a few other members were concerned that, without a prompt resumption of gradual increases in the target range for the federal funds rate, labor market conditions could tighten well beyond normal levels over the next few years, potentially necessitating a subsequent sharp tightening of monetary policy that could shorten the ...

Business

US importing more oil for the first time since 2010

Oil prices edged higher on Tuesday as the market anticipated an output cut from the Organization of Petroleum Exporting Countries (OPEC), and further extended its gains in post-settlement trade as the American Petroleum Institute's (API) data last week revealed a surprising dip in the U.S.

Business

Samsung expecting $5.3bn profit loss from Galaxy Note 7 troubles

Samsung Electronics conceded Friday that its decision this week to abandon the flawed Galaxy Note 7 smartphone will continue to drag on the company's operating profit well into next year. To cover the cost from the Note 7, Samsung plans to focus on other premium smartphone brands such as the Galaxy S7 and Galaxy S7 edge. It recalled 2.5 million of the phones in early September, blaming a battery fault.

Business

Google releases Android 7.1 preview for Nexus 6P, 5X, and Pixel C

Google has finally made the Pixel Launcher available on the Google Play Store and you can download it, only with a catch - You need to have a Pixel phone for that. Android 7.1 Nougat will add new functionality called App Shortcuts. Google also said that this update will roll out to some more other devices next month.

Business

Duterte causes Philippine foreign policy confusion

Philippine officials have said joint U.S. -Philippines military exercises would cease and that the tropical nation can do without U.S military assistance. The renewed friendship in this part of the world has opened huge opportunities for Philippines' trade and investments in China and the Asean market of 1.9 billion people across the region, he said.

Business

Duterte: Filipinos may be able to return to disputed shoal

Del Rosario called Duterte's shift from Washington to Beijing as "a national tragedy". Yesterday, Philippines President Rodrigo Duterte raised eyebrows in declaring a " separation " from the United States and the forming of a military and commercial alliance.

Business

Oil rises on Russia's output freeze commitment

Saudi Arabia's oil minister, Khalid Al-Falih, spoke at a conference Wednesday in London, where he said the balance between supply and demand is improving. World Bank on Thursday raised its forecast for the oil price in 2017, as the members of the Organization of the Petroleum Exporting Countries (OPEC) prepare to limit their production.

Business

United Kingdom inflation hit highest level in nearly two years in September

These upward pressures were partially offset by a fall in air fares and food prices, it added. Economists have predicted that prices will rise further - potentially above the Bank of England's two per cent target next year - when the fall in the value of sterling makes food, fuel and clothing more expensive.

Business

Cyber Attacks: Smart home devices used as weapons to disrupt Internet sites

For millions of people on Friday, it felt like someone had pulled the plug on the internet. Internet connected accessories like Digital recorders and web cameras have become the weapons for this largest attack. DDoS or Distributed Denial of services which make the traffic huge and create the virtual traffic for a particular server is a type of cyber attack.

Business

Unstoppable All Blacks set Test winning record

All Blacks coach Hansen hit back at Cheika saying he "hijacked" the occasion with his outburst on Saturday night, but the Australian boss was not going to give in when asked about his remarks after touching down in Sydney on Sunday. Freedom to move: Israel Folau finds some space in the midfield. Cheika then went on to decry the New Zealand Herald's cartoon depiction of him as a clown.

Business

Oil Prices Fall as Inventories Surge Once Again

OPEC aims to cut production by 700,000 barrels per day to 32.5 million to 33.0 million bpd by its next policy meeting in Vienna on November 30. Or perhaps it's the raft of statements on OPEC's first planned production cut in eight years.

Business

Equities Analysts Offer Predictions for Expedia Inc.'s FY2016 Earnings (EXPE)

Barclays PLC reiterated an "overweight" rating and set a $120.00 price objective on shares of Expedia in a research note on Thursday, June 30th. Expedia Inc.'s (EXPE) stock price showed strong performance of 5.03% in last seven days, switched up 15.40% in last thirty days and it fell -2.63% in last one year.

Business

Theresa May offers British MPs some scrutiny of Brexit process

It trimmed some of those gains after a spokeswoman said there would be no vote on triggering "Article 50", which will start the formal process to take Britain out of the European Union and which May has said she will invoke by the end of March.

Business

Iraqi forces launch new advance northeast of Mosul

However, Iraq has viewed Turkish military moves on its territory with apprehension. Abadi's rejection of Turkish involvement in the battle for Mosul comes in the middle of heightened tensions between the two countries, as Iraq has put pressure on Turkey to remove its contingent of roughly 500 troops from the northern part of the country.

Business

Web attack takes down major websites on East Coast

Manchester, New Hampshire-based Dyn, Inc . said its server infrastructure was hit by a distributed denial-of-service attack, which works by overwhelming targeted machines with junk traffic. The collective, named NewWorldHacking on Twitter, has in the past claimed responsibility for similar attacks against sites including ESPNFantasySports.com in September and the BBC on December 31.

Business

British American Tobacco Offers $47B For Reynolds American

A significant presence in high-growth emerging markets across South America, Africa, the Middle East and Asia, together with the most attractive developed markets. Reynolds said it will evaluate the offer. In June 2015, Reynolds closed on a $27.4 billion acquisition of Newport maker Lorillard . The Marlboro maker split into two in 2008, when the risk of litigation in the United States was seen as a deterrent to foreign companies.

Business

Geno Smith Gets Last Chance With New York Jets

Bowles confirmed that it was "strictly my call". "I know he has the talent", Webb said. "It's the way I do things", Bowles said. Bowles later stated that "there's a possibility every week there will be some changes made, player-wise". "It has been fantastic to see this guy grow". Fitzpatrick threw a team-record 31 touchdown passes, and Brandon Marshall and Eric Decker combined for 26 TD catches, the most in the NFL.

Business

World Bank raises 2017 oil price forecast on OPEC's prepared production limit

However, there is less consensus among senior figures in the energy market over where the oil price goes from there. Brent for December settlement lost 16 cents to $51.22 a barrel on the London-based ICE Futures Europe exchange. Cushing Oklahoma, WTI is priced, saw a large 1.99-million-barrel draw, while distillate stocks also declined substantially by 2.4 million barrels. "With prices at these levels and rising, rig count increases will likely be in the double digits hereon", said Tariq ...

Business

Overloaded train derails in Cameroon, killing at least 53

After the accident, people are being rescued from the carriages strewn across adjacent rail tracks. Rail officials said the train had been carrying 1,300 passengers, instead of the usual 600 when it derailed in Eseka on Friday. "The train with wounded and the bodies of victims has arrived at Yaounde station in the presence of government and Camrail officials", Camrail posted on its official Facebook page early on Saturday.

Business

Iowa's unemployment rate unchanged at 4.2 percent

The state's jobless rate was 3.6 percent one year ago. At the same time, the monthly household survey showed lower unemployment rates. Fourteen states had statistically significant over-the-month increases in nonfarm payroll employment and three states had significant decreases in September 2016.

Business

UK Navy to Closely Monitor Russian Syria-Bound Ships Crossing English Channel

It is the only carrier in the Russian navy and can carry more than 50 aircraft. A North Atlantic Treaty Organisation official said that although Russia has the right to "operate in worldwide waters", the alliance is planning to monitor the Russian ships as they make their way towards the Mediterranean, likely passing a number of North Atlantic Treaty Organisation allies in the process.


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