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Here's Why the OPEC Oil Rally Is Likely to Be Short-Lived

Russia, which is not an OPEC member, said it was ready only to freeze production but Qatar's energy minister Mohammed bin Saleh Al-Sada said that Russia has committed to reducing its output by 300,000 bpd. OPEC's cut in production is expected to go into effect in January. During December 2014, prices dropped 41 cents, as oil prices tanked from $69 per barrel to $53, AAA reported.

Business

Italian PM announces resignation after defeat in constitutional referendum

Renzi, 41, voted mid-morning in his Tuscan home town of Pontassieve, but made no comment. Renzi was appointed by the president and the next prime minister could also be appointed in the same fashion, but there could also be another general election.

Business

Hong Kong tycoon Li offers $5.4B for Australia energy firm

DUET shares have fallen 6 per cent from $2.50 at June 30 to close on Friday at $2.35. In a statement to the Australian Securities Exchange, Duet said its board was considering the proposal and it was advising shareholders to take no action as there was no certainty the proposal will proceed.

Business

GDP growth predictions cut to 1.4% for 2017

Britain's economy has so far largely withstood the shock of the Brexit vote, wrong-footing the Bank of England and nearly all private economists who expected a bigger immediate hit.Brexit supporters, who say Britain's economy is likely to fare much better than the widespread views of a slowdown, are likely to question the credibility of the latest OBR forecasts.

Business

Federal government blocks Dakota Access oil pipeline route

Further, Cramer said he spoke Sunday with Darcy, and she "was unable to give any legal reasons for the decision and could not answer any questions about rerouting the pipeline". Texas-based Energy Transfer Partners LP, which owns the Dakota Access Pipeline, did not immediately comment after the decision. Police have blocked Highway 1806 at Backwater Bridge, just north of the Oceti Sakowin camp, since October 27, when protesters burned several vehicles on that structure.

Business

Samsung Electronics considers splitting firm in two

According to investors, shareholders will get more capital from Samsung Electronics and this will enhance the earnings of the Group as well as the Lee family. Jay Y. Lee and his two sisters face a multi-billion dollar inheritance tax burden in the event their father and Samsung Group patriarch, 74-year-old Lee Kun-hee, passes away.

Business

U.S. Army Corps Rejects Easement For Pipeline

This decision may address the expressed concerns of the Standind Rock Sioux Tribe about protecting drinking water sources and sacred sites, but it does not mean that the pipeline will not get built. A video posted on Facebook showed a man identified as Remi Baldeagle saying the secretary of the Army had denied the Dakota Access pipeline easement.

Business

Italy voter turnout above 20 percent at midday

Supporters say this would make Italy more stable. "It wasn't clear that [Prime Minister Matteo Renzi] was going to resign, even though he had said earlier he would", Chandler said just after the prime minister announced he meant to resign .

Business

Autumn Statement: Councils facing £337m costs over new living wage

The Office for Budget Responsibility, Britain's independent budget forecasters, said gross domestic product would grow by 1.4 percent in 2017, down from an estimate of 2.2 percent made in March, before voters chose to leave the EU.Hammond, announcing the first detailed economic plans of May's government, said the OBR believes uncertainty about Britain's trading relationships with its EU neighbors - who buy almost half the country's exports - will cut growth by 2.4 percentage points over coming ...

Business

American Airlines flight attendants want new uniforms recalled

The airline has also offered uniforms made of alternative materials. New uniforms were rolled out for 70,000 employees in September as part of an uniform overhaul for the airline, which merged with U.S. American Airlines spokesman Ron DeFeo stated that the airline carrier recently allowed almost 200 flight attendants to go back to wearing their old uniforms for the time being instead of the new uniforms that are allegedly hazardous.

Business

Trump renews threat of tariffs on companies that move jobs overseas

Why?" Trump said he plans to give companies incentives to stay in the United States by lowering corporate taxes and slashing regulations. Asked Sunday on ABC's "This Week" whether Mr. We should pay less attention to what he says, or tweets, and more to what he actually does. "How would it not be a new 35% tax on families?" Company representatives on Saturday did not respond to a request for comment on Trump's tweet.

Business

Prominent Dallas Attorney Brian Loncar Found Dead Two Days After Daughter's Funeral

Click on this sentence to read about this Developing Story from our media partners at The Dallas Morning News . Rob Crain is the president-elect of the Dallas Bar Association. His daughter, Grace Loncar , died on November 25 after a long struggle with depression, which family says led to her suicide. The personal injury attorney made local news in 2008, when he totaled a Bentley in a crash with a fire engine.

Business

Conflict in Syria: Rebels won't surrender Aleppo

Russian military trucks also delivered aid to the captured eastern districts of eastern Aleppo. Syrian rebel commanders in war-ravaged Aleppo say they will not surrender the city's eastern sector to Russia-backed government forces, despite a government offensive that threatens to drive out opposition fighters after a four-year occupation.

Business

AWS tries to protect its customers from DDoS attacks with new service

The FAQ page doesn't say anything about when the initial version will be killed but does say that customers can keep using it "until it's retired" and that customers can talk to AWS support about migrating to version 2.0. Snowmobile makes it easy to move massive volumes of data to the cloud, including video libraries, image repositories, or even a complete data center migration.

Business

US veterans head to pipeline protest camp in North Dakota

A vigil will take place at the Worker's Memorial in Centennial Park this Sunday, Dec. 4, at 7:30 p.m. People have gathered for months at the Standing Rock Indian Reservation to oppose the Dakota Access pipeline, which is being built to carry oil from western North Dakota to a shipping point in IL.

Business

USA adds 178K jobs in November, unemployment falls to 4

The report says the market added 19,400 part-time jobs last month and shed 8,700 full-time positions. The data release comes ahead of the Federal Reserve's December 13-14 meeting, where the central bank is expected to announce its first interest rate increase in a year.

Business

Vancouver mayor's national profile on the rise in pipeline debate

In a study released in June, before anything regarding the numerous pipeline proposals was certain, scientist and author J. David Hughes calculated the consequences of a number of different scenarios on Canada's quest to 2030.Among the key findings, published by the Canadian Centre for Policy Alternatives, Hughes determined the projected growth in the oil and gas sectors would mean that other sectors in the economy would have to reduce their emissions by anywhere between 47 per cent and 59 per ...

Business

Smith shines for Australia with record SCG innings

Munro went on a rampage to reach the target but failed to do so, as the wickets kept tumbling at the other end, eventually losing the match by 68 runs. "Just from looking at it from the grade perspective where global players never play and state players play very little, I think that's one of the problems with Australian cricket".

Business

Populist Hofer Loses Austrian Presidential Election

Hofer, who led the anti-immigration and anti-Islam Freedom Party (FPO), lost the election to former Greens leader Alexander Van der Bellen. With almost all results counted, Van der Bellen had 53.3 percent of the vote to Hofer's 46.7 percent.

Business

Trump says he is completely leaving his business

He said on Wednesday he is drawing up legal documents that would remove him from day-to-day business operations. After Trump won the November 8 election, his company, the Trump Organization, had said it was looking at new business structures with the goal of transferring control to Donald Trump Jr., Ivanka Trump and Eric Trump - three of his adult children who are involved with the company.

Business

US Senate votes unanimously to renew Iran sanctions

In a speech to Iran's parliament on December 4, Rohani said the bill violates a landmark nuclear deal between Tehran and world powers. In a statement on Sunday, 264 Iranian parliamentarians slammed the US Congress for having voted for a legislation to extend sanctions against "the great nation" of Iran.

Business

Vegans Are Pissed That Britain's New Money Contains Meat

This is unacceptable to millions of vegans , vegetarians, Hindus, Sikhs, Jains and others in the UK. An online petition has sprung up in the United Kingdom demanding the Bank of England cease using animal products in the country's money.

Business

Rouhani urges Obama to block Iran sanctions law extension

Congress, saying Tehran would otherwise "firmly respond". The accord signed previous year by Iran and six world powers including the US curbed the Persian Gulf country's nuclear program in exchange for the lifting of global sanctions imposed over the work.

Business

New York Thanksgiving parade goes off safely under tight security

The beloved annual tradition was started by Macy's employees as a Christmas parade in 1924, and took a few years off during World War II. The NYPD marching band commanded extra attention, with revelers shouting, "Thank you!" as it passed.

Business

Sarah Palin Says Trump's Carrier Deal Could Be 'Crony Capitalism'

Putin said in an interview with the NTV channel to be broadcast later on Sunday that Trump's business accomplishments show him to be a "smart man". President-elect Donald Trump on Sunday threatened heavy taxes as retribution for United States companies that move their business operations overseas and still try to sell their product to Americans.

Business

Philip Hammond sticks to script in Autumn Statement

Public sector net debt should also be falling as a percentage of economic output by the end of the current parliament while welfare spending must also remain inside a cap set by the government, Hammond said as he set the government's new fiscal rules.

Business

Trump's Latest Tweet Threat: Taxes For Companies That Leave US

But Trump's tirade on Sunday went much further than the Carrier deal, and the president-elect will find it hard to implement a 35% tariff without alienating many members of his own, generally pro-business, Republican party. "Foundational to our exceptional nation's sacred private property rights, a business must have freedom to locate where it wishes", wrote Palin, the 2008 Republican vice presidential nominee.

Business

Aghan President Ashraf Ghani attacks Pakistan for giving 'sactuary' to terrorists

The sides also addressed the issue of terrorism and radicalization, as during the last year's Heart of Asia conference, the sides agrees to develop a strategy to counter terrorism. Addressing a press conference after coming back to Islamabad from Amritsar , Sartaj Aziz said that Afghan President Ashraf Ghani's statement against Pakistan deserved condemnation.

Business

Crude prices rally above US$51 on OPEC deal

This, according to analysts, is due to an urgent need to increase the prices of crude oil in the face of an ongoing surplus of inventory which could not be balanced with a surprisingly steady demand from consumers. In another reflection of newfound discipline within the cartel, Al-Sada said Indonesia's membership had been suspended after it refused to accept its share of proposed output cuts, reducing the number of OPEC countries to 13.

Business

Malaysian PM Najib Razak joins pro-Rohingya rally despite warning from Burma

Malaysian Prime Minister Najib Razak, center, speaks to the crowd during a protest against the persecution of Rohingya Muslims in Myanmar at a stadium in Kuala Lumpur , Malaysia on December 4. They are denied citizenship and suffer from institutionalized discrimination in Buddhist-majority Myanmar despite many of them having lived in the country for generations.

Business

Oil prices surge, trading volume records smashed as OPEC and Russian Federation agree

The Organization of the Petroleum Exporting Countries will meet in Vienna on Wednesday aiming to implement a deal outlined in September to cut output by around 1 million barrels per day (bpd), from around 33.82 million bpd in October. The output cut follows several years of depressed oil prices due to a supply glut on the market, which has seen prices more than halve since 2014. Another wild card is the cooperation of non-OPEC producers, who are expected to decrease production by 600,000 ...

Business

Tough ex-general chosen as defence secretary

Central Command in the Middle East in 2010. But some temper that with a wariness about the wisdom of putting so many military leaders at the helm of the country's national security when the nation was founded on the idea of civilian control.

Business

Identity crisis? Samsung's thinking of splitting in two

Elliott Management, an activist of hedge fund in the United States had called for a split in the company in October. HI Investment offered further details on Samsung's possible split, saying: "Even if Samsung Electronics does not comment on specifics such as the timing of a split.

Business

OPEC: bullish for oil prices, even more so for oil shares

On Thursday, Brent crude futures were trading at $54.22 a barrel at 1900 GMT - the highest level in almost 16 months, while US benchmark, WTI crude, was trading at $41.59/Bbl. "The reflation trade continues to work in earnest, this time Trump has taken a back seat and OPEC and Russian Federation have taken the initiative and lit the fuse under the oil price", wrote Chris Weston, chief market strategist at IG in Melbourne.

Business

2000 veterans to give Standing Rock protesters a break

Standing Rock Sioux tribal leader Dave Archambault and other protest organizers confidently explained that they'll stay at the Oceti Sakowin camp and continue with nonviolent protests a day after Archambault received a letter from the U.S. Veterans Stand for Standing Rock, a contingent of more than 2,000 USA military veterans, intends to go to North Dakota by this weekend and form a human wall in front of police, protest organizers said on a Facebook page .


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