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Oil falls from 16-month high as OPEC production keeps on rising

Of course, this move does not necessarily say anything about Saudi Arabia's specific plans to cut production, but it does speak to the nation's desire to maintain its place in the global energy market. According to a recent survey OPEC's oil output has broke through another record high earlier in November , 34.20 million barrels per day from October at 33.80 bpd.

Business

Australian economy contracts 0.5 percent in September

Inflation remains below most central banks' targets, although headline inflation rates have increased recently. General Mills is cutting as many as 600 jobs globally as it struggles to boost sales, as customers shift to less-processed and sugary foods.

Business

Analysts expect 25-bps rate cut from Urjit-led MPC

The committee - three officials from the central bank, including Patel, and three independent members appointed by a government panel - voted 6-0 to cut rates at its inaugural meeting in October. In the month, WPI inflation dipped to 3.39% while CPI inflation cooled to 4.20%. "Also, the recent demonetisation will support easing inflation by affecting consumer demand adversely".

Business

Italy's president asks PM Renzi to delay resignation

Italy's President Sergio Mattarella called on Renzi, 41, to postpone his exit following his crushing referendum defeat until the budget is passed, in a bid to reassure those in Europe anxious about the country's plunge into political uncertainty.

Business

San Antonio deputy dies after being swallowed by giant sinkhole

Rushing waters trapped the deputy in her own auto, and the sinkhole became a watery grave. Bexar County Sheriff Deputy Dora Linda Nishihara was driving down Quintana Road around 7:30 pm when it suddenly crashed down into a large gaping hole in the middle of the road, according to WOAI of CNN .

Business

European Union leaders urge for calm after Renzi's loss in Italy referendum

On a visit to Brussels, Italy's Maria Elena Boschi received a show of support from the major political groups in the European Parliament and from the Commission, ahead of the do-or-die referendum in October on constitutional reform. The president wants a new law to follow a Constitutional Court ruling on the legitimacy of the lower house voting law adopted previous year, the source said, which is not due before a January 24 hearing.

Business

Pence says Flynn Jr. has no role in transition

Pence and Trump adviser Kellyanne Conway both said Sunday that the call came from Taiwan President Tsai Ing-wen. Asked if Trump would now pick up the phone to call other companies considering shipping jobs overseas, Pence said "the president-elect will make those decisions on a day-by-day basis".

Business

Amazon debuts its first market, one without checkout lines or cashiers

Now the Amazon Go storefront, which is about 1,800 square feet on 7 Avenue in Seattle , is open to Amazon employees in a beta pilot. It will also offer ready-to-eat meals, fresh snacks and "chef-designed" Amazon Meal Kits, which include ingredients needed to make a meal for two in about 30 minutes.

Business

Black Friday Has Become Its Own Holiday

Wal-Mart Stores Inc. said in addition to Black Friday favorites like televisions and toys, shoppers were looking for drones, virtual reality products and hoverboards. With the lure of steep discounts and the possibility of real deals, many gave up sleep and headed to the Queens Center Mall for Black Friday shopping .

Business

Lawrence Summers slams Trump's Carrier move

In a series of Twitter comments, Trump said he plans to "substantially reduce" taxes and regulations on businesses. Carrier parent company United Technologies , for example, went forward with its plans to shift 1,300 jobs to Mexico even as it struck the deal to keep the 800 IN factory workers' jobs at home.

Business

Trump says he will get out of business to focus on presidency

But what could possibly be in those documents that would put to rest the myriad concerns about conflicts of interest marring his administration? Trump said during the campaign he would likely transfer operations of his company to his children, but experts say that wouldn't do much to insulate him.

Business

Amazon Just Introduced the Grocery Store of the Future

If you decide you don't want to purchase a product after all, you can put it back on the shelf and the app's virtual shopping cart will update itself. Does that mean Amazon will be watching every single step you take from the second you walk into their 1,800-square foot store? Talking to CNBC , Trip Chowdhry, analyst at Global Equities Research, said that he does not see Amazon's new stores as a game changer.

Business

Deputy dies when sinkhole swallows vehicle in San Antonio

Nishihara's body was found inside the submerged vehicle. Authorities say two passers-by rescued a driver after another vehicle went into the sinkhole Sunday night. Both of the cars are still in the hole, with one of them being more than 90 percent under water. "Somehow a pipe got separated", said SAWS COO and Senior Vice President Steve Clouse, and the heavy downpours over the weekend infiltrated the pipe.

Business

Michigan Court of Appeals to hear AG, Trump cases for stopping recount

The filing costs for recounts vary by state, with the cost in Wisconsin a little more than a million, half a million in Pennsylvania and $600,000 in MI. On that same day Michigan Attorney General Bill Schuette filed a lawsuit arguing Stein, who received less than 2 percent of the vote in Michigan , was not a aggrieved candidate and thus could not request a recount.

Business

US judge to hear arguments in Pennsylvania election recount

The ruling, however, did not address whether the recount was legal, just eliminated a delay in starting it. The board's staff and staff from the Wayne County Clerk Cathy Garrett's Office were also providing assistance. The state Court of Appeals ruling found that based on the accepted definition of who is eligible for a recount request, Stein is not an "aggrieved" candidate, as Stein attorney Mark Brewer had argued.

Business

Trump meets former US vice president Al Gore over climate change

Former VP Al Gore's comments about his meetings with Trump and Ivanka. "I had a lengthy and very productive session with the president-elect", Gore told the White House press pool . Just before the election, rumors briefly swirled that Gore might advise Democratic candidate Hillary Clinton if she were president. He also met with Ivanka Trump , and said in an MSNBC interview Monday night that she appears to be committed to the climate.

Business

1st Cuban Migrants Land in Florida Since Castro's Death

When she learned of his death on November 25, Aguilera said she felt "elated". HAVANA (AP ) — Music is playing in the streets again. A song titled "Riding with Fidel" by the popular singer Raul Torres constantly plays on television and the radio.

Business

Amazon Go is a better attempt on Google's vision for local shopping

Explaining the technology behind Amazon Go , the retailer credited a combination of "computer vision", "deep learning algorithms", and "sensor fusion much like you'd find in self-driving cards". Then, super smart technology tracks which items each customer takes off the shelves. Amazon on its official Amazon Go website wrote about the store, "Four years ago we asked ourselves: what if we could create a shopping experience with no lines and no checkout?" Rather than paying cash, the ...

Business

Judge refuses to delay Dylann Roof's trial

A SC judge declared a mistrial Monday after jurors said they couldn't reach a unanimous decision in the case of a white former police officer charged with killing an unarmed black man, Walter Scott. The shooting came less than a year after the deaths of Eric Garner on Staten Island and Michael Brown in Ferguson, Mo., in police custody. Like so many others in our community, I'm deeply disappointed by the jury's inability to reach a unanimous verdict in the trial of former North ...

Business

Oil firms cut prices

According to a recent survey OPEC's oil output has broke through another record high earlier in November, 34.20 million barrels per day from October at 33.80 bpd. It hit an intra-day peak of $52.42 on Monday, the highest since July 2015. OPEC will be meeting representatives from non-OPEC countries on December 10 in Vienna .

Business

Enterprises Brace as Court Suspends Overtime Rule

It would affect 4.2 million workers immediately, and enhance overtime protections for another 9 million, according to the Department of Labor. "This nationwide injunction will not only benefit every business across the state, but it will also provide some relief to those Louisiana employers who are continuing their extensive recovery efforts from the recent flood", says LABI Small Business Director Renee Amar.

Business

Donald Trump expanding search for Secretary of State, says Kellyanne Conway

But Trump's skeptical attitude toward trade, a signature campaign issue that appealed to Rust Belt and working-class white voters who blame globalization for American job losses, entangled McCarthy on Monday when he was asked about Trump's threat to impose a 35% tariff on imported goods from US companies that move factories overseas.

Business

Broken Voting Machines Could Wreak Havoc For Wayne County Recount

Green Party candidate Jill Stein asked for a vote recount in Michigan, Wisconsin and Pennsylvania after a prominent group of election attorneys and computer scientists, including University of Michigan computer science professor J. "Let every vote count", Stein said Monday outside Trump Tower in New York "That's what makes America great". The bill would apply to Stein, though Democrats questioned the legality of changing the rules "in the middle of the game".

Business

Trump says 'cancel order' on new Boeing Air Force One plane

He said: " The plane is totally out of control, it's going to be over 4 billion U.S. dollars. and I think it's ridiculous. "I think Boeing is doing a little bit of a number", the President-Elect said. The two Air Force One planes now in use, highly modified Boeing 747-200B airliners known as VC-25s, are close to reaching the end of their 30-year life expectancy, and both require significant maintenance to stay in the air.

Business

Brokers Bill Secret Service Protection As Nifty New 'Amenity' At Trump Tower

According to the story, the email advertised a $2.1 million, 1,052-square-foot condo in Trump Tower and specifically drew attention to the impending Secret Service protection there as an "aminity" [sic]. WSJ's Jason Bellini reports. According to the website, while the properties in Trump Tower are not owned by Donald Trump, the Trump Corporation does keep a processing fee of $2,000 for each sale in its capacity as building manager.

Business

How Tom Price would dismantle Obamacare

Priebus told MSNBC's "Morning Joe", that Trump has "got the best people in America working on it". It has been a target of Republican attacks since its enactment in 2010. Instead, Price would offer tax credits for the purchase of individual and family health insurance policies. And while repealing the law could be done with GOP votes alone, any replacement plan would likely require the cooperation of minority Democrats in the Senate, something that will not be easy to come by.

Business

Brent Oil Prices Retreat From One-Year Highs on Profit Taking

West Texas Intermediate crude CLF7, -2.41% CLF7, -2.41% has surged to $51.79 a barrel from $45.23 a barrel two days before the Organization of the Petroleum Exporting Countries's decision to collectively reduce output by 1.2 million barrels a day.

Business

GoDaddy to buy Host Europe Group for $1.82 billion

The deal is created to help boost GoDaddy's worldwide expansion. Host Europe is the largest privately-owned web services provider in Europe, and operates brands such as 123Reg, Domain Factory, Heart Internet and Host Europe. So here is how the transaction is taking place. It expects to close the deal during the second quarter of 2017. There is still the question of regulatory approval, however that should not pose much of a problem.

Business

Trump issues tax threat to companies moving operations overseas

Sent through a proofreader, Trump is presumably saying that companies with offshore factories will be hit with a 35% tax on any goods sold back into the US. Carson, who opposed Trump in the Republican primaries, has no background in government or running a large bureaucracy. American consumers and businesses would pay - literally - if President-elect Donald Trump followed through on his campaign pledge to slap big taxes on imports from China and Mexico.

Business

Supreme Court upholds broad power to curb insider trading

The U.S. Justice Department eventually cracked down on Salman for insider trading when his accounts - which actually belong to his wife's sister - boomed. The decision likely undercuts efforts by some Wall Street figures to overturn their insider-trading convictions. Omega Advisors founder Leon Cooperman also could be affected.

Business

Alaska Airlines gets US approval to buy Virgin America

Alaska Airlines has been cleared by the Antitrust Division of the United States Department of Justice (DOJ) to proceed with the acquisition of Burlingame, CA-based Virgin America. It has competed aggressively with American, particularly on 20 nonstop routes served by both airlines, the DOJ said. Alaska operates hubs in Anchorage, Alaska; Portland, Oregon; and Los Angeles.

Business

Raw: Snow, Wind Hit Dakota Pipeline Protest Site

The 48-year-old actor took to Instagram to commemorate the historic moment with a naked photo of himself standing atop a boulder along with the simple caption: "Celebrate Standing Rock". This leaves open the possibility that the new administration could quickly reverse Sunday's decision. Meanwhile, industry leaders are urging President-elect Donald Trump to make approval of the disputed Dakota Access oil pipeline a priority when he takes office next month, but a spokesman for Trump isn't ...

Business

More Than 500 Carrier Jobs Will Still Go to Mexico, Union Says

When companies make good business decisions, sometimes the pain of laying off American workers is outweighed by the benefits of increasing profits, paying more in taxes and hiring more Americans in other parts of the (growing) business. And there's a point at which saving jobs costs too much. The deal includes a ten-year state incentive package consisting of $5 million in conditional tax credits, $1 million in training dollars and another $1 million pending a major investment in the plant by ...

Business

Boeing responds to Trump's $4 billion Air Force One claim

President-elect Donald Trump sold all of his stocks in June, a spokesman said, divesting himself of holdings including Boeing Co ., the target of a Trump tweet on Tuesday over the cost of a new presidential aircraft. Air Force One , then, must be paired with Air Force Two. Bob van der Linden, curator at the Smithsonian National Air and Space Museum, told Sky News there would be "very little likelihood" the US Secret Service would allow a serving president to charter a flight.

Business

Kerry Denies US Stalling on Aleppo Talks with Russian Federation

Russia, a key Assad ally, had announced talks with the United States in Geneva for Tuesday or Wednesday on organising a rebel withdrawal from Aleppo ahead of a ceasefire. Rebel fire into the government-held west of the city has killed 81 people, including 31 children, in the same period, it says. "There has been heavy shelling on us, there are massacres (of civilians), there's no electricity and little internet access", said Abu Youssef, a resident of one of the areas still held by the ...


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