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Troubles for Trump as U.S. consumers lose their mojo

On a almost daily basis, the president brags about how much he's improved economic confidence and brought new investments to the United States. "Typically there's a high correlation between sentiment readings and what transpires by way of spending...but in the first quarter, it didn't manifest quite the same".

Business

Oil slides more after USA settlement on API inventory report

On Wednesday, crude prices tumbled more than 3.5 percent as US government data showed domestic crude stocks fell less than expected in the latest week and gasoline stocks posted a surprising 1.5-million-barrel build. Thirteen members of the Organisation of the Petroleum Exporting Countries (OPEC) and 11 non-OPEC members agreed to cut production by about 1.8 million barrels a day to prop up oil prices in December previous year.

Business

United Kingdom parliament votes on snap election in Brexit's shadow

When asked in an ITV television interview whether Corbyn was a realistic candidate as prime minister, Labour lawmaker Helen Goodman said: "I don't think that this election is about changing the government". Other political figures across the area have also responded to Mrs May's shock announcement. Theresa May's Conservatives now hold 330 of the House of Commons seats while Labour has 229.

Business

Alphabet Shares Rocket to All-Time High

To be sure, Google's cloud venture is still much smaller than market leader Amazon .com Inc's Amazon Web Services and Microsoft Corp's Azure. Google parent company Alphabet Inc delivered its first-quarter earnings for the year on Thursday that met analysts estimates sending its shares up by more than 4% during the after-hours trading.

Business

US economic growth weakened to 0.7 per cent in first quarter

Those who expected the change in White House administrations to produce a burst of optimism that would fuel first quarter growth will find themselves disappointed in today's advance estimate of GDP growth - and so will most everyone else. Government delays issuing income tax refunds to combat fraud also curbed consumer spending. But with savings rising to US$814.2 billion from US$778.9 billion in the fourth quarter, consumer spending is likely to pick up.

Business

U.S. growth hits three-year low at start of 2017

However, the pedestrian growth pace for the first quarter is not that true of a picture of the health of the economy. In addition to weaker consumer activity, the first-quarter slowdown also reflected a cutback in restocking of store shelves.

Business

Australia unveils tougher citizenship process in migration crackdown

On Tuesday, Malcolm Turnbull, Australian Prime Minister announced abolition of its visa program called 457 which allowed businesses to hie foreign workers for a period of up to four years . The new temporary visa requires applicants to have work experience, a high standard of English skills and a criminal check. Majority of the tweets - under the hashtag #AustralianValues - mock the stereotypes of Australian culture, and others angrily discuss hypocritical elements of the new ...

Business

Is Trump tax reform a step forward or backward?

Treasury Secretary Steven Mnuchin has asserted a few times that the tax plan will pay for itself by generating a lot of growth because the proposed changes will spur investment and create jobs. Reduced taxes on the wealthy. The way business tax cuts spur job growth is by promising investors that they will enjoy a lower tax rate on the income from new investments they make.

Business

President Trump: "Big Announcement" Coming on Tax Reform

Earlier, Trump told the Associated Press that businesses and individuals will receive a " massive tax cut " in the plan. Instead, a senior administration official said the President would only release the "parameters" that Mr Trump expected a tax plan to follow in the long congressional debate that surely would follow.

Business

Production deal 'restoring balance' to oil

This follows earlier reports by Kuwaiti media that the crucial agreement by producers to cut their output would be extended when they meet again next month. "I see the oil market pointing upward and expect it to continue improving", he added. Reuters reported that oil prices have gained support from the pact but a supply glut has been slow to shift, limiting their increase.

Business

GDP Grew Just 0.7 Percent In First Quarter Of 2017

The resulting rise in economic growth is expected to compensate for the loss in tax revenue - although the rationale is not widely accepted by experts. But it remained unclear how many recent economic events could be credited to - or blamed on - the president. The Economic Policy Institute (EPI) warns against raising rates given the lackluster growth.

Business

Oil falls to two-week low as gasoline supply rises, dollar gains

Global benchmark Brent crude futures were down 26 cents at $55.10 a barrel at 0803 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 12 cents, or 0.2 percent, to $50.56 a barrel. While Iran fueled hopes that OPEC and non-OPEC oil producers could extend their output cuts beyond the six-month agreement, Saudi energy minister Khalid al-Falih said it was too early to discuss an extension.

Business

Time Inc. backs away from plans to sell itself

We strongly believe in the future and potential of this company. The company's stock was down almost 20% premarket. That strategic plan includes a focus on continued growth in digital audiences and digital revenue, led by branded/native content solutions and video, expanding and diversifying revenue and content through brand extensions, including via TV, OTT, events, licensing, new products and strategic partnerships, as well as a focus on cost management and possible asset deals for the ...

Business

Economic Growth Hit Three-Year Low During First Quarter

The first quarter advanced estimate is based on source data that is incomplete or subject to further revision, and will be followed by a second estimate released in May. "Household spending was held down by a drop back in motor vehicle sales from a near-record high at the end of previous year and the unseasonably warm winter weather, which depressed utilities spending", said Paul Ashworth, chief United States economist at Capital Economics .

Business

Trump's 1st economic report card: Slowest growth in 3 years

After contributing to GDP growth for two straight quarters, inventory investment was likely a drag in the first quarter. The latest economic data indicate the USA economy is growing at the slowest rate in three years. University of MI economist Justin Wolfers on Twitter concurred with the White House's assessment that first-quarter GDP quarter is historically weak.

Business

Trump's 15% business tax is lowest for big economy

But the plan offers no details on how Trump would offset these massive tax cuts, potentially adding trillions of dollars to the national debt over the next decade. Let's see whether a Treasury Department committed to count the supposed gains from tax-reform-induced growth in the economy are able to hear the loud gurgle of revenues that under their plan would drain away through tax avoidance.

Business

Why Donald Trump's Tax Plan Can't 'Pay for Itself'

The benefit is largest for affluent people living in states that impose high income tax rates, which are much bluer than average. "President Trump's tax plan is short on details and long on giveaways to big corporations and billionaires", Democrat and leader of the House of Representatives Nancy Pelosi said in a statement .

Business

West Ham star disappointed with Slaven Bilic

Marc Muniesa went into the book for a late sliding challenge on Cheikhou Kouyate as West Ham grew into the game, and the Spaniard was perhaps lucky to avoid a second yellow card just moments later for bringing down the same player midway through the Stoke half.

Business

Trump signs order to expand offshore oil, gas drilling

Despite Trump's assertion that the nation needs to wean itself of foreign oil, USA oil imports have declined in recent years as domestic production boomed, mainly through improved drilling techniques that opened up production in areas once out of reach.

Business

Google profits surge with advertising boom

Net income for the quarter was $5.42 billion, up from $4.2 billion a year ago. The company said the number of paid clicks on its properties rose a whopping 53 percent year-over-year, while the rise on its partners' sites was a small fraction of that, at 10 percent.

Business

Trump signs executive actions to review tax regulations, roll back Dodd-Frank

During the campaign, he backed cutting the corporate tax rate — and the personal income tax rate to 33 percent from a top marginal rate of 39.6 percent. "Our goal is to make this a smarter, more effective process that reduces the kind of systemic risks that harmed so many Americans during the financial crisis of 2008", Mnuchin said.

Business

United, passenger dragged from plane reach settlement

Dao's attorney, Thomas Demetrio, in a statement early Thursday applauded United for promptly making policy changes that he said are "passenger friendly and are simple, commonsense decisions on United's part to help minimize the stress involved in the flying experience".

Business

Trump Tax Plan Could Lead To Tax Increase For Some New Yorkers

And despite pledges to the contrary, there's no evidence that the massive tax cuts would lead to significant job creation or economic growth, never mind the kind that would cover the revenue loss - up to $7 trillion over the next 10 years.

Business

Twelve People Killed in Venezuela in Overnight Violence

The third fatality was a National Guard sergeant killed overnight when his squad was attacked with gunfire while trying to control disturbances in a suburb of Caracas , the chief prosecutor's office said . The ongoing demonstrations started after the Venezuelan Supreme Court's March 30 announcement that it would strip the opposition-controlled National Assembly of its legislative powers.

Business

Rich States Growl At Trump Tax Plan

But whether they pay more or less depends largely on details that have yet to be released.One of those pesky details is how Trump will structure the tax rates on individual income. Once interest costs are included along with CRFB's estimates , the federal debt would increase to 111% of gross domestic product by 2027 - the largest in history.

Business

OPEC Chief Sees Oil Producers Closer to Re-Balancing Market

Commercial crude inventories declined by 1 million barrels last week, after falling 2.2 million barrels the previous week, the Energy Department reported Wednesday. Patrick Pouyanne, the chief executive of French oil and gas giant Total, said on Thursday prices could fall again by the end of the year due to a rapid increase in US shale production.

Business

Bucks on the rise after Game 6 loss

MILWAUKEE - Toronto blew a 25-point second-half lead but used a 9-0 run late in the fourth quarter to knock Milwaukee out of the playoffs. Toronto advances to face defending National Basketball Association champion Cleveland in the second round in a rematch of last season's Eastern Conference finals.

Business

US economy expanded at weakest pace in 3 years

Higher inflation, which saw the personal consumption expenditures index averaging 2.4 percent in the first quarter - the highest since the second quarter of 2011 - also weighed on consumer spending. Mnuchin said the administration hoped it would lead to sustained growth of 3 percent a year. The softness last quarter also provides crucial ammunition for the Trump administration's arguments that big tax cuts and regulatory rollbacks are necessary for the economy to grow the way it did in the ...

Business

Foreign policy moments that mattered in Trump's first 100 days

In the survey, 42 percent said they strongly approve of the job he is doing as president while 51 percent said they somewhat approve. Donald Trump's first 100 days will be completed this Saturday, and people want to know how much he has actually accomplished and whether he has delivered on the poll promises.

Business

Hollande Calls On French To Back Macron, Prevent Le Pen "Risk"

With 10 more days of campaigning to go - and a live television debate scheduled for May 3 - before the final round of voting on May 7, both candidates have a lot of work to do to rally support. Le Pen's father, Jean-Marie, made it into a presidential runoff against Jacques Chirac in 2002 and was crushed. The presidential primaries mobilized a predictably small number of activists and voters, and produced candidates that were so weak or wounded that they undermined, rather than built the ...

Business

Analysts Set RSA Insurance Group plc (RSA) PT at $599.45

The SI to Nabors Industries Limited's float is 10.03%. The stock decreased 0.88% or $0.24 during the last trading session, reaching $26.94. Entree Gold Inc (NYSEMKT:EGI) has risen 67.86% since September 20, 2016 and is uptrending. Cranswick PLC had 73 analyst reports since July 27, 2015 according to SRatingsIntel. The company has market cap of $546.58 million. The rating was maintained by Numis Securities on Tuesday, February 21 with "Buy".

Business

SpaceX to launch NROL-76 at Kennedy Space Center

Residents of Brevard County are the most likely to hear a sonic boom, a brief thunder-like noise heard by a person on the ground when an aircraft or other vehicle flies overhead faster than the speed of sound. Fans of SpaceX will already know that their launch schedule has been updated so all launches will be during daylight times. We also know that this is the first launch of a spy satellite for the United States governments super secret NRO spy agency by SpaceX and a source of pride ...

Business

Trump tweets about the 9th Circuit, but the problem is way bigger

Supreme Court. Cleary however, he is still hung up specifically on the overturned travel ban, which prompted the infamous "SEE YOU IN COURT" tweet. "The Department of Justice can not accept such a result, and as the president has made clear, we will continue to litigate this case to vindicate the rule of law", Attorney General Jeff Sessions said in a statement, citing the need to deport criminal illegal immigrants.

Business

NFL Draft is Like Gameday for Bama and the Tide will ROLL

However, others like TakkMcKinley and Derek Barnett also have a chance to be dominant. Reuben Foster , linebacker, Alabama to San Francisco at No. The Bears' now possess the third overall selection in the draft. "One of the reasons why we want to wait through this experience is to see what went well, see what went wrong and see what we can improve on, most importantly".

Business

United States economy growth slows strongly in first quarter, 0.7%

The price index for gross domestic purchases, which measures the prices paid for goods and services purchased by consumers, increased 2.6 percent in the first quarter. "Since 2000, Q1 U.S. GDP has averaged 1.0% followed by an average growth print of 2.6% in Q2", according to the Wells Fargo Economics Group's analysis of current GDP figures.


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