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OPEC's Big Cut to Oil Output May Not Be So Impressive: Russell

Brent, the benchmark global oil contract, was up 19 cents to $54.13. "It remains to be seen how well they stick to the plan, but if OPEC hadn't come to an agreement the probability is that oil prices would have fallen to $40 a barrel, perhaps even lower", said Simon Flowers, chief analyst at consultancy Wood Mackenzie.

Business

Ogilvy Scores Top Marks on LGBT Equality Study

Some Los Angeles companies which earned the "Best Places to Work for LGBT Equality" included American Apparel, Sony Pictures Entertainment Inc., and Mattel Inc. To learn more about the CEI criteria and corporations featured on the annual list, visit www.hrc.org. HRC envisions a world where LGBT people are embraced as full members of society at home, at work and in every community.

Business

UK Supreme Court begins hearing on Brexit

Prime Minister Theresa May has said she intends to notify the European Union that Britain is leaving – called triggering article 50 of the Lisbon Treaty – by the end of March 2017, however the claimants say MPs must vote for this first. Government initiatives to support the tech sector, for example funding for more fibre-optic broadband, were welcome, Wise said, but he believes the British government needs to show more leadership and clarify the many questions hanging over the free movement of ...

Business

J C Penney Company Inc (JCP) is Upgraded by BofA/Merrill to Buy

Deutsche Bank AG reiterated a "buy" rating and set a $12.00 price target on shares of J.C. Penney in a report on Monday, August 15th. Insider Trading News: Insiders at the company look mixed about the outlook as they seem to trade shares both ways while they have 43.09 jumped so far this year.

Business

Cyber Monday sales jump, set to surpass initial estimate

Some early results are in for Cyber Monday sales and 2016 looks to be a record year for the online shopping day that annually follows Thanksgiving weekend. "It's nearly as if we don't need to keep a gift list anymore because when a good gift idea pops into our minds, we can go to our mobile device and buy it instantly", said Tamara Gaffney , principal analyst, Adobe Digital Insights .

Business

Trump shaping administration as Stein presses for recounts

Stein first filed for a recount Friday in Wisconsin, where Trump won by fewer than 30,000 votes, and followed Monday with a recount request in Pennsylvania, where the GOP presidential nominee had about a 70,000-vote margin. The state's largest county, Milwaukee, was recounting the ballots by feeding them through the same machines that counted them on election night. The former Democratic presidential candidate and her close aides see the recount drive largely as a waste of resources, ...

Business

OPEC Is Trying To Get Non-OPEC Nations To Cut Production Now

Meanwhile Indian Petroleum Minister Dharmendra Pradhan on Monday urged OPEC countries to consider striking a balance between the interest of producers and consumers when deciding on output cuts. Being exempt from the deal, both countries have the potential, stability permitting, of increasing production by more than 500,000 barrels per day over the coming months.

Business

United Kingdom services PMI rises to 55.2 in November

An index reading above 50 would show that the services sector continued to expand. Survey data from IHS Markit and the Chartered Institute of Procurement & Supply showed that the purchasing managers' index for the services sector rose to 55.2 from 54.5 in October.

Business

Gun-brandishing man sought to investigate conspiracy theory

While fake news stories and deliberately falsified gossip has always been a part of United States politics, experts say that the Internet has increased the speed and breadth by which they travel, and appears to make them more indelible. Comet Ping Pong was closed Monday, but neighbors brought flowers and cards to the storefront saying "We support Comet" and "we love you and stand by you".

Business

RBI Likely To Cut Interest Rates After Demonetisation

The RBI monetary policy committee (MPC) is likely to consider a 25 bps rate cut on Wednesday (7 December), followed by another in the first quarter of 2017 amid downside risks to growth following the notes ban and subdued inflation, says a DBS report.

Business

Kinder Morgan pipeline close to meeting British Columbia conditio

Trudeau also shelved the proposed Northern Gateway pipeline across northwestern B.C. and said legislation banning tankers on B.C.'s northwest Pacific coast is coming soon. "Some people have two faces and I think that we're seeing that today". As for meeting the condition of a world-leading spill response system...he says the B.C.

Business

Trump Issues New Warning to US Corporations Moving Jobs Overseas

Boss Tweed and the Tammany Machine of the late 19th and early 20th Centuries is certain to pale in comparison to what's in store for us over the next 4 to 8 (or more) years. If Trump's plans to revive manufacturing in the US leads to a resurgence on American soil, Hayes said that is a good thing, and he believes Trump's team will be focused on it.

Business

Oil prices head higher after surge on OPEC output deal

If you were long oil early Wednesday, then you've received your Christmas gift already, but whether prices will continue to surge higher depends on multiple factors. The cuts will likely trigger inventory draws in the first half of 2017, according to UBS, while Morgan Stanley says the energy industry is likely to see another wave of "notable" investments within the U.S.as well as in other regions.

Business

Wynn Resorts' (WYNN) Buy Rating Reiterated at Citigroup Inc

CIBC World Markets Inc. increased its stake in Wynn Resorts by 108.5% in the second quarter. Insider Transactions: Since November 9, 2016, the stock had 0 insider buys, and 1 sale for $3.27 million net activity. This represents a $2.00 annualized dividend and a dividend yield of 2.03%. Schaeffersresearch.com's news article titled: "Option Bulls React as Wynn Resorts, Limited (WYNN ) Fills Post-Earnings Bear Gap" with publication date: November 21, 2016 was also an interesting one.

Business

No change in China policy

China and the Washington foreign policy establishment thought they could tell President-elect Donald Trump whom he can and cannot speak with on the phone. "The whole world knows about the Chinese government's position on the Taiwan issue". "The President of Taiwan CALLED ME today to wish me congratulations on winning the Presidency", Trump tweeted on Friday .

Business

Lamar Jackson, Jabrill Peppers, and Deshaun Watson Named Finalists for Heisman Trophy

Oklahoma managed to put two players into the final group, as both Mayfield and Westbrook have played prominent roles in Oklahoma's current nine-game win streak and Big 12 championship. Jackson had 295 yards passing, 162 rushing and accounted for three touchdowns with one interception. The 19-year-old set an Atlantic Coast Conference record for total touchdowns this season with 51 (30 passing, 21 rushing) after passing for 3,390 yards and rushing for 1,538 for the 13th-ranked Cardinals (9-3).

Business

Bargain-hungry shoppers send non-food sales soaring

Online sales of non-food items rose by 10.9 per cent, down from 11.8 per cent in November previous year. Total UK retail like-for-like sales rose by 0.6 per cent in November, compared to a fall of 0.4 per cent in 2015. Overall sales climbed 1.3 percent after gaining 0.7 percent a year earlier. It may have been introduced to Britain to give the high street the sort of trading boost enjoyed by America's shopping malls over Thanksgiving, but it was online retailers that enjoyed the biggest ...

Business

Price Target For Canadian Imperial Bank of Commerce Increased To $87

Balentine LLC now owns 74,770 shares of the company's stock valued at $4,633,000 after buying an additional 13,585 shares during the last quarter. Canadian Imperial Bank of Commerce's dividend payment track record during the last five years shows that it has paid an average of $0.923 per year to its shareholders, the company had paid dividend of $0.923 per share figure paid 5 years ago.

Business

Democrats urge hearings on Trump, conflict-of-interest rules

While I am not mandated to. Legal documents are being crafted which take him completely out of business operations, he claimed. The other victory Trump will celebrate Thursday is far more clear-cut: his own on Election Day. Asked if the tweets in which the president-elect announced the plans to leave his business, Conway replied, "It appears that way". He emphasizes, after all, that he doesn't have to do this.

Business

Chesapeake Energy Corporation (NYSE:CHK) Announces Changes To Board Of Directors

Dreman Value Management L L C boosted its stake in shares of Chesapeake Energy Corp.by 591.0% in the third quarter. Exxonmobil Investment Management Inc. Chesapeake Energy Corp. The company's revenue was down 32.6% compared to the same quarter a year ago. The company's quick ratio for most recent quarter is 0.30 along with current ratio for most recent quarter of 0.30.

Business

Russia says OPEC, non-OPEC members to meet Saturday in Vienna

Despite OPEC's cheating "history" Barkindo defended "today's complex energy markets require open communication and collaboration in order to ensure that the world's future energy needs are met". The deal will help Saudi Arabia, Iran and Iraq; will do little for Venezuela; and may prove complicated for US producers. "The shale producers will be the ones who benefit from the oil-producer deal and the likely rise in oil prices", Charles Perry, CEO of energy-consulting firm Perry Management, ...

Business

Amazon is opening a real grocery store with no checkout lines

There, the whole shopping experience happens on your phone - specifically, you download the Amazon Go app before visiting the store, scan a QR code to get in, and the store recognizes which items you've selected and charges your Amazon account once you've left the store.

Business

Italy president asks PM Renzi to delay resignation for budget

Silvio Berlusconi's movement has been severely weakened since the three-time former premier's tax fraud conviction barred him from office. So Renzi resigns and Italy's president, Sergio Mattarella , will nominate a successor. The euro has since rebounded , as have European stocks more broadly. The main problem bank is Monte dei Paschi di Siena, the country's third-biggest lender, which failed a stress test this year and has been in negotiations with investors to raise 5 billion euros ($5.4 ...

Business

Trump's deal sets a bad precedent for the nation: #tellusatoday

Industrial component manufacturer Rexnord (RXN) is the latest to be thrust into the spotlight by Donald Trump over job relocation plans, with the president-elect going to Twitter over the weekend to criticize the company over its plans to shift work to Mexico.

Business

Austria center-left presidential candidate deals blow to populists

Van der Bellen called the result a vote for a "pro-European" Austria based on "freedom, equality and solidarity". During the campaign Hoffer said he would call a referendum on European Union membership, while Van der Bellen campaigned on a pro-EU ticket.

Business

Winner in Austria: A pro-EU message can succeed

Austrian voters have sent a message that they are unwilling to allow their country to be swept up in the populist wave that has boosted far-right politicians to powerful positions in the US and Europe . The election was considered a dead heat when Austrians hit the polls Sunday. "The next elections will be theirs", she writes on Twitter, referring to Hofer's anti-immigration Freedom Party (FPOe), an ally of her National Front.

Business

Australia's central bank holds rates even as growth slows

CoreLogic head of research Tim Lawless said building the case for a cut were sluggish inflation, the likelihood of a low or even negative GDP reading, record low wage growth of 1.9 per cent in the year to September and the loss of about 50,000 full-time jobs in the year to October.

Business

Dow, S&P 500 set record high closes ahead of holiday

NEW YORK (AP) - The Dow Jones industrial average is closing above 19,000 for the first time as a post-election rally drives indexes further into record territory. The three indexes, plus the small-cap Russell 2000, all closed at records Monday. "Longer term, the "New Trump" reality of higher growth through fiscal stimulus and infrastructure work certainly warrants higher commodities and stock prices", said Philippe Gijsels, head of research at BNP Paribas Fortis.

Business

Pulse Nightclub Owner Decides Against Sale to City of Orlando

In a statement released by Poma's attorney, Gus Benitez, Poma said she decided she "can't just walk away" from the club that "means so very much to my family and to our community". Poma's decision comes almost a month after Dyer's administration revealed its plans to buy the 4,500-square-foot building occupying a third of an acre at South Orange Avenue and West Esther Street.

Business

Trump should not spend like economy in crisis -Fed officials

He added the markets expect more fiscal policy and faster rate hikes under a Donald Trump administration, calling investor reaction "appropriate". His remarks came as many economists predict the Fed will decide to raise interest rates at its Federal Open Market Committee meeting in December.

Business

Pipeline approvals potentially big win for NDP: Taras

The projects approved this week, he said , will provide additional work for his members and the additional economic activity will provide "opportunities to make a decent living" in the future. The project would cost at least C$7.5 billion ($5.6 billion) and boost capacity to 760,000 barrels per day from 390,000 barrels. In addition, the project is projected to generate $46.7 billion in federal and provincial taxes during construction and its first 20 years of operation, $530 million in ...

Business

Unemployment Rate Lowest in 9 Years

Nonfarm payrolls grew by 178,000 jobs, 2,000 fewer than economists had expected. WASHINGTON , Dec 2 ( Reuters ) - U.S. employers boosted hiring in November and the unemployment rate dropped to a more than nine-year low of 4.6 percent, making it nearly certain that the Federal Reserve will raise interest rates later this month.

Business

New Zealand PM John Key resigns

But he said he wanted to ensure he didn't make the mistake that some other world leaders have done, and instead wanted to leave while he was on top of his game. Key said: There will be many people coming up with all sorts of reasons. theres no conspiracy here. its just the right time. "I am hugely confident that National can and will win the next election".

Business

How the Dow Jones industrial average finished Monday

The Dow, which closed at a record and minted a new intraday peak, has topped the other major indexes since the election, as investors have rotated into the financial and industrial sectors. Valero Energy gained $3.06, or 5 per cent, to $64.52 and ConocoPhillips picked up 76 cents, or 1.6 per cent, to $48.88. Goldman Sachs (GS.N) shares rose 2.3 percent after HSBC initiated coverage with a "buy" rating.

Business

Pakistan, Seemingly Isolated At 'Heart of Asia' Conference in Amritsar, Cries Foul

Without naming Pakistan, both Indian Prime Minister Narendra Modi and Afghan President Ashraf Ghani urged their neighbor to stop offering shelter and support to militants who commit violence in the region. India wanted to isolate Pakistan but the senior diplomat outclassed his adversaries. We recognize that terrorism is the biggest threat to peace, stability and cooperation in our region.


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