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Oil prices rebound after Kuwait supports oil deal extension

Iran's oil minister made a commitment to freeze output at 3.8 million barrels a day for the rest of the year on the assumption the cuts are extended beyond June, Kuwait Oil Minister Issam Almarzooq told reporters in Abu Dhabi. "Given this, an OPEC decision to extend the oil cut agreement could lead to further strengthening of the USA oil producers' positions", the expert said.

Business

Judge cites Trump's comment in 'sanctuary city' ruling

This case is yet one more example of egregious overreach by a single, unelected district judge. The statement was all the more striking because it conflicted with the Justice Department's take on the case. The Trump administration says sanctuary cities allow risky criminals back on the street and that the order is needed to keep the country safe. "Once again a federal court has told the Trump administration: 'No you can't.' The president is going beyond his authority when he tries to cut ...

Business

OPEC members show higher compliance to bring down oil stocks

Brent for June settlement dropped as much as 58 cents, or 1 percent, to $55.31 a barrel on the London-based ICE Futures Europe exchange. "The U.S. market perhaps doesn't believe in the oil market balance that OPEC would have us believe", said Hans van Cleef, senior energy economist with ABN AMRO.

Business

Riyadh says oil output cut may be extended

USA output has jumped nearly 10 per cent since mid-2016 to 9.25 million bpd, close to that of the world's top two producers, Saudi Arabia and Russian Federation. Jerome Powell and European Commission Vice President Valdis Dombrovskis are scheduled to participate in a Q&A discussing "Capital Markets, Growth & the Economy of Tomorrow" at the Global Finance Forum in Washington at 8 a.m.

Business

Nasdaq breaches 6000 as earnings boost shares; USA tax code proposal eyed

The tech-heavy Nasdaq rose as much as 0.70 percent to hit a record level of 6,026.02, powered by gains in index heavyweights Apple AAPL.O and Microsoft MSFT.O . She said cutting taxes on partnerships and owner-operated businesses would be a strong boost to investing. The Nasdaq surged to a record close yesterday as U.S.

Business

Netflix misses subscriber growth targets, but expects a big Q2

In its first-quarter earnings release late Monday, Netflix Inc. Over the past decade, 'what really did it for Netflix was the explosion of phones and tablets that allowed people to watch video everywhere, ' said Wedbush Securities analyst Michael Pachter.

Business

North Korea fires hundreds of guns along coast as Trump armada nears

South Korea also said it was considering drills with the carrier group, which is now conducting joint exercises with Japan in the Philippine Sea. The comments came ahead of a failed missile test a day after the 105th anniversary of the birth of North Korea's founder Kim Il-Sung.

Business

Italian PM, Emmanuel Macron set to join hands for Europe's development

The final results from the first round of France's presidential election's showed that centrist candidate Emmanuel Macron got nearly 1 million more votes than far-right leader Marine Le Pen. Le Pen, whose father, Jean-Marie Le Pen , a notorious figure in French politics, led the anti-immigration party from 1972 to 2011, is better known than Macron, a former banker who has enjoyed a meteoric rise.

Business

United Airlines in fresh scandal after giant rabbit dies on flight

In a statement to the BBC , United Airlines said they "were saddened to hear this news". She told The Sun: 'Something very odd has happened and I want to know what. According to Annette Edwards , Simon , like his father Darius, was a Continental Giant rabbit . "The client who bought Simon is very famous". An airport source said news of Simons demise sparked a panic among UA staff, adding: “After the viral video no-one wanted responsibility for killing what was to be the worlds ...

Business

Trump's tax plan could face a budget deficit challenge

Trump also signed an executive order directing Treasury Secretary Steven Mnuchin to review "all significant 2016 tax regulations to determine if they impose an undue financial burden on taxpayers, are needlessly complex, create unnecessary requirements, or exceed what's allowed under law".

Business

Judge blocks Trump threat to withhold 'sanctuary city' funds

The Republican president's administration and two California governments that sued over the order disagreed about its scope. "Under our system of government, the President can not coerce cities, counties and states to become agents of federal immigration enforcement by threatening the loss of funds appropriated by Congress".

Business

Americans will buy a more expensive flight to avoid United Airlines

He promised to review the airline's policies to make sure something like that never happens again, and said United will no longer use police to remove bumped passengers. Dao had refused to leave his seat after he was randomly selected to be bumped from the flight so United could provide seats to a flight crew deadheading to Louisville.

Business

Chelsea extend Premier League lead with 4-2 win over Southampton

Meanwhile, Saints have collected four points on their last two visits to Stamford Bridge and came from behind to win this fixture 3-1 last season. The leader hosts Southampton on Tuesday, while Spurs plays away at Crystal Palace 24 hours later.

Business

Masahiro Imamura: Japanese Minister Quits Over Fukushima Comments

Abe conceded that the public's faith in his administration was lacking following a series of inappropriate remarks made by a number of ministers and parliamentary vice ministers that he had appointed. Imamura retracted his remark, saying he would make a proper apology later. It was not the first time Mr Imamura has courted controversy. He then attempted to oust the journalist whose question led to the remarks at a news conference, shouting: "Get out!" Abe's support now hovers around 50 ...

Business

Markets Right Now: Strong company earnings power stock gains

The Russell 2000 of smaller-company stocks was up 13.13 points, or 0.9%, at 1,411.08. "The market has moved up, and in order to sustain that, you need GDP growth to accelerate well past 2 percent to sustain earnings growth to sustain these market valuations", said Ernie Cecilia, chief investment officer at Bryn Mawr Trust.

Business

Oil Tumbles Most in Six Weeks as U.S. Gasoline Supplies Advance

US crude oil production reached 9.24 million barrels per day (bpd), according to the latest Energy Information Administration data , making it the world's third-largest producer after Russian Federation and Saudi Arabia. The price of a barrel of Azeri Light crude oil decreased $0. "Production is up nine straight weeks here to the highest level since August 2015". Brent for June settlement dropped as much as 58 cents, or 1 percent, to $55.31 a barrel on the London-based ICE Futures ...

Business

OPEC panel recommends 6-month extension of oil output cuts

Brent crude futures were at $53.03 per barrel at 0257 GMT, up 4 cents from their last close. Novak said information on the oil market's situation and forecasts were being digested in order to draw a conclusion. "Meanwhile, pressure in physical crude is becoming more hard to ignore: timespreads in both Brent and Dubai crude are now both showing the widest contango in several months, while the front end of the Brent contract for difference (CFD) curve has slumped further in recent days".

Business

United CEO will not take chairman's role in 2018

In its regulatory filing , United Continental Holdings said maintaining an independent chairman is a way to ensure Munoz could more exclusively focus on his role as chief executive officer. Thune and Nelson said in a joint statement, "We find any further delay in getting necessary answers unacceptable", USA Today reported . Here are 5 lessons that we learned from the United Airlines disaster.

Business

Lawyer representing United passenger takes on American Airlines

Dao was one of four passengers bumped from the United Express flight to make room for four airline employees after the airline failed to find volunteers to take a later flight. The scene was captured on video by fellow passengers and showed Dao bloodied and disheveled in the incident. The change to Munoz's contract came less than two weeks after passenger David Dao was forcibly removed by security officers from a Chicago flight to Louisville, Kentucky.

Business

International Monetary Fund forecasts pickup in world economy

China will likely achieve a steady pace of growth this year on government-led boosting measures and an expansion in public investment. The IMF expects the USA economy to grow 2.3 percent, up from 1.6 percent in 2016; the 19-country eurozone to expand 1.7 percent, the same as past year; Japan to grow 1.2 percent, up from 1 percent; and China to expand 6.6 percent, down from 6.7 percent in 2016.

Business

Credit Suisse Group AG Setting The Table For Earnings

COPYRIGHT VIOLATION NOTICE: "Under Armour Inc (UAA) Receives Underperform Rating from Credit Suisse Group AG" was posted by BBNS and is owned by of BBNS. "We expect the capital increase will strengthen our pro forma look-through CET1 ratio to approximately 13.4 percent and our pro forma look-through tier 1 leverage ratio to approximately 5.1 percent, based on our end-1Q17 risk-weighted assets and leverage exposures", Zurich-based Credit Suisse said in a statement on Wednesday.

Business

Capital One Financial Corp. (COF) Stake Reduced by Nippon Life Insurance Co

Receive Capital One Financial Corporation News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Capital One Financial Corporation with MarketBeat.com's FREE daily email newsletter .

Business

Trump to move on tax reform

Mnuchin said Monday at the daily White House press briefing that Trump's plan will include tax cuts for "middle-income" Americans and will simplify the US tax code. They have no idea what they are doing. The cost could jump to almost $4 trillion if Trump also chooses to extend the 15% rate to so-called pass-through businesses, which include everything from small businesses to big law firms and investment partnerships.

Business

Trump executive order aims to simplify tax code

Which means Trump's proposed tax cut would be saddled with an expiration date. Earlier on Friday, the told The Associated Press in an interview that "I shouldn't tell you this, but we're going to be announcing , probably on Wednesday, tax reform".

Business

France's Macron under fire for communication misstep as he eyes Elysee

During an interview with the France 2 television channel, Le Pen said she is not "disappointed" with the first round but she has hope that "we can win and we will win". Asian equities advanced on Tuesday as the return of risk appetite following a centrist victory in the first round of the French presidential election lifted several regional markets to multi-year highs, while the euro retained most of its overnight gains.

Business

United Airlines CEO Gets PR Award Before Dragging Drama

The company issued a series of apologies and promised to review its policies, but the withering response from customers and lawmakers raised questions about whether the crisis will undermine its long-running efforts to improve customer satisfaction across its wide network.

Business

North Korea conducts artillery drill

The U.S. and South Korean navies also sent destroyers to conduct a joint live-fire exercise with destroyers in the Yellow Sea off the peninsula's west coast on Tuesday. "The status quo in North Korea is also unacceptable", Trump told a meeting with the 15 U.N. Security Council ambassadors, including China and Russian Federation, at the White House.

Business

USA nuke-powered submarine arrives in S. Korea

An official from Seoul's Defense Ministry couldn't confirm those specific details . North Korea has surprised observers and experts who have been watching for a nuclear or missile provocation. The USS Michigan is one of four Ohio-class ballistic missile submarines loaded with nuclear missiles. Meanwhile, the White House has invited the entire US Senate on Wednesday for a briefing on the mounting tensions between Washington and Pyongyang.

Business

Oil producers working on extending curbs

Leading Gulf oil exporters Saudi Arabia and Kuwait gave a clear signal on Thursday that OPEC plans to extend into the second half of the year a deal with non-member producers to curb supplies of crude. Russian Energy Minister Alexander Novak says the oil market is improving with production cuts by OPEC and non-OPEC members. Higher headline prices also boosted US shale producers.

Business

Nikkei retakes 19K on global lead, weaker yen

Australia and New Zealand are closed for the Anzac Day holiday. A candidate seen as pro-business won the most votes in Sunday's vote, and many investors expect him to win a runoff election against the remaining anti-EU candidate, which is set for May 7.

Business

What happened before man was dragged from United flight

A screen grab shows passenger David Dao being dragged off a United Airlines flight at Chicago O'Hare International Airport in this video filmed by @JayseDavid, April 9, 2017. The incident has spotlighted the common practice of overbooking and bumping passengers from flights, which airlines rely upon to avoid losing money on seats left empty by no-show passengers.

Business

IMF's increased positivity on global growth

The International Monetary Fund (IMF) today trimmed India's annual growth forecast by 0.4 percentage point to 7.2 per cent for 2017, citing the impact of demonetisation. At the same time, consumer prices will keep rising in Luxembourg, going from 0.1% in 2016 to 1.4% in 2017 and 1.3% in 2018, which could negatively influence purchasing power of households.

Business

Watch 2017 NBA Playoffs online, Game 4 preview, start time

Cleveland had an awesome night in Game 3, breaking the record for the largest second half comeback in playoff history, which was pretty much lead by LeBron James, and the bench because Kevin Love and Kyrie Irving only accounted for 13 points apiece.

Business

Official estimate could upend Trump tax plan before release

Like George W. Bush before him, Trump will likely find it prohibitively hard to pass deeply unpopular tax cuts for the rich, while also pushing through deeply unpopular spending cuts and/or middle-class tax increases. The question though is how big that effect would be. The mental mistakes we make with retirement spending . An administration official, speaking with to Reuters under the condition of anonymity, said that the administration only plans Wednesday to "outline our broad ...

Business

Oil prices regain some ground, but oversupply weighs

Latest data by the Energy Information Administration showed USA output rose to 9.25 million barrels a day last week, the highest level since August 2015. Oil prices extended losses Wednesday as official data showed the first weekly climb in US gasoline supplies in two months. On the NYME, the May delivery for West Texas Intermediate dropped by 24 cents to reach $52.41 per barrel.


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