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Rand at three-weeks lows as dollar benefits from hawkish Fed

However, another rate hike could be around the corner. The widely expected decision contained no concrete commitment to the timing of the next rate increase. The Fed is in its first cycle on increasing rates since 2006 - a quarter percentage point boost each in December 2015, December 2016 and March. Investors who bet on the future path of the fed funds rate project the next rate hike occurring in June, according to CME FedWatch.

Business

French president-elect gears for transition _ as do rivals

Macron's victory has also been a big relief for the European Union, which Le Pen threatened to leave. By contrast Le Pen is an old hand, with a developed party political machine behind her and a long history of far-right activism. What does China think of Macron's French election victory? President Giorgi Margvelashvili took to Twitter as well, writing: "Congratulations to the President-elect Emmanuel Macron ".

Business

Sage of Omaha Warren Buffett eyeing benefits of Trump tax cut

Buffett told Berkshire Hathaway shareholders Saturday that the bank should have done more to correct the problem once it was discovered. The 86-year-old CEO and his 93-year-old partner have been leading the conglomerate for more than five decades, but the crowd is always listening for new nuggets of wisdom.

Business

Imagination Technologies Group plc (IMG) Stock Rating Reaffirmed by JPMorgan Chase & Co

About shares traded. GW Pharmaceuticals PLC- ADR (NASDAQ:GWPH) has declined 17.38% since September 30, 2016 and is downtrending. It has underperformed by 35.31% the S&P500. About shares traded. Copart, Inc. It has underperformed by 7.89% the S&P500. Copart, Inc.is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India.

Business

SKorean conservative describes election as 'war'

Two months after booting their sitting presiden. Moon attracted the most support from voters in their 20s to 50s, while people in their 60s and older tended to vote for Hong, according to the poll. The National Election Commission (NEC) said final turnout was expected to be more than 80 per cent, which would be the highest since Kim Dae-jung was elected in 1997, when 80.7 percent of voters cast ballots.

Business

U.S. Dollar Remains Strong After Fed Meeting, Hurting Gold Prices

The dollar traded below a six-week high against the yen on Wednesday, as the market awaited the Federal Reserve's policy statement for hints on the US interest rate outlook, while the kiwi strengthened after strong New Zealand jobs data. In their post-meeting statement today, the central bank policymakers provided little guidance on when their next rate hike might come. Slow economic growth during the first quarter is likely to prove "transitory" and with gradual adjustments in the ...

Business

Target testing a restocking program for household essentials

This summer, Target said it will let some of its customers order common household products like laundry detergent, paper towels, granola bars and coffee and have them delivered the following day to their doorsteps. "There are lots of logistics we want to figure out", he said. The notice on the Target website does not spell out what the "low, flat fee" will be, but sources have reported that it will be probably be competitive with Amazon Pantry's $5.99 per box.

Business

After their late, late show, Cubs, Yankees back at it again

The Cardinals wasted a 4-0 lead before beating Atlanta, 6-4 on Tommy Pham's two-run homer in the 14th. Rosters in every sport are about cost certainty, and I think Major League Baseball teams can afford more cost to help in the care and feeding of arms.

Business

US Lawmakers Chide Beleaguered United Airlines Chief Over Passenger Abuse

First, he said , law enforcement was called to remove Dao off the plane when the passenger refused, but a security issue "did not exist" and airline staff shouldn't have called the cops. Many committee members from both parties voiced frustration with their own flying experiences. Rep. Peter DeFazio, D-Ore., the panel's ranking Democrat, said passenger rights have gotten short shrift as the industry has consolidated into four major carriers that handle 80 percent of flights.

Business

High-End iPhone Pushes Prices Up for Apple, Even as Sales Slow

For the first time in Apple's history, iPhone sales fell in the second quarter of the previous fiscal year, followed by three more quarters of dropping iPhone sales compared to their corresponding quarters the previous year. After pent-up demand for the next iPhone eases, the next big for Apple could be augmented reality, closely followed analyst Steven Milunovich said Wednesday.

Business

Judges hit Trump lawyer with tough questions over revised travel ban

They said there's no legitimate basis for restricting visitors from the six countries: Iran, Libya, Somalia, Sudan, Syria and Yemen. Jadwat was asked whether it would make a difference if Trump repudiated his past statements about a Muslim ban.

Business

Buffett faults United, but sticks with airlines investments

OMAHA, Neb. (AP) - Berkshire Hathaway shareholders are attending several events around Omaha this weekend after the company's annual meeting on Saturday. This week, Oracle copped to getting it wrong on another tech company: IBM. Buffett said the US$3 trillion hedge fund industry is "such a big game" that people are able to make "huge sums of money, far beyond what they're going to make in medicine" or other professions.

Business

David Dao & United Airlines Reached An "Amicable Settlement"

Munoz said he was going to do the right thing, and he has", Demetrio said about the company's CEO Oscar Munoz . Video of his removal on 9 April showed Dr Dao, 69, screaming in pain as he was grabbed and hauled out of his seat. To head off customer defections, United had already announced that it will no longer call police to remove passengers from overbooked flights, and will require airline crews traveling for work to check in sooner.

Business

Discovery Communications reports Q1 earnings below expectations as subscribers cut the cord

Municipal Employees Retirement System of MI boosted its stake in shares of Discovery Communications by 0.4% in the third quarter. Gateway Investment Advisers LLC now owns 14,807 shares of the company's stock worth $399,000 after buying an additional 46 shares in the last quarter.

Business

April Jobs Report: 211000 Jobs Added, Unemployment At 4.4 Percent

Employers added 3,200 jobs last month, short of economists' forecasts for a gain of 10,000. Prices of USA government debt fell after the employment data while US stock index futures rose. "Labor market conditions remain robust and continue to tighten", Ward McCarthy, chief financial economist at Jefferies LLC in NY, told Bloomberg. Indeed, the Federal Reserve has acknowledged that the economy may be expanding but it is slower than expected.

Business

Trump Was 'Psyched' To Nix NAFTA But Was Persuaded To Reconsider

Agriculture Secretary Sonny Perdue and Commerce Secretary Wilbur Ross gave Trump a map noting that farm and border states that heavily backed Trump in last year's election would lose jobs if the US ended the trade deal, the report said .

Business

Crowds cheer as first Chinese-made passenger plane makes maiden flight

The takeoff of the C919 brought cheers and applause from hundreds of invited guests at Shanghai Pudong International Airport and was broadcast live on Chinese state television. But it also relies on foreign-made technology for critical systems, including its engines, which are made by CFM International, a joint venture between General Electric's aviation subsidiary and France's Safran Aircraft Engines.

Business

Oil dives under $50/bbl again on stubborn global glut

Brent crude oil futures LCOc1 were down 32 cents at $50.47 a barrel by 0957 GMT, while U.S. West Texas Intermediate ( WTI ) futures CLc1 were also down 32 cents at $47.50 a barrel. Oil prices have come under pressure amid market jitters about how long it will take to cut back a global glut in supply. Including production from Indonesia, which has suspended its OPEC members, production topped the agreed quota level of 32.5 million barrels a day by 80,000 barrels.

Business

Wells Fargo Stockholders Re-elect All 15 Directors

When the meeting came out of recess, things got back to normal, and by "normal" we mean three more angry shareholder outbursts and an impassioned plea by a Native American community leader to stop Wells Fargo from colluding to destroy tribal lands.

Business

Mnuchin can't promise plan won't raise taxes on middle class

As he did during the election, Trump will call for the repeal of the Alternative Minimum Tax , the estate tax and the 3.8% Medicare surtax that applies to wages and investments above a certain level. Not everyone makes itemized claims on their tax returns. "It's going to mean a tax cut", he guaranteed when asked what the new rates would do for a family of four making $60,000 a year.

Business

How Does Allergan plc (AGN) Stack Up Right Now?

Shares of the Dublin-based company, which also posted first-quarter revenue that edged past estimates, inched up 1.2% in premarket trading. Most recently Allergan PLC . If you are viewing this report on another domain, it was stolen and republished in violation of USA & global copyright and trademark laws. The correct version of this report can be accessed at [[permalink]].

Business

House Committee Grills Airlines In Wake Of United Passenger Dragging

Rep. Bill Shuster (R-Pa.), chairman of the House Committee on Transportation. If airlines don't act to improve, "I can assure you, you won't like the outcome", Shuster said. Fellow passengers shot video of the incident, sparking backlash against the airline, which initially resisted taking blame. "We know we have some catching up to do", testified Kerry Philipovitch, senior vice president of customer experience at American Airlines .

Business

Election means new talks on Calais migrant deal, says May

May said "every vote for me and my team will strengthen my hand in those Brexit negotiations". Yet no-one was more determined about the need for the party to continue with its reinvention than Le Pen herself, who used her concession speech to vocalize her plans.

Business

Crude palm oil rises 0.38% in futures trade

Said Mr Ole Sloth Hansen, head of commodity strategy at Saxo Bank in Copenhagen: "Saudi and Russia's main objective is once again to buy some time in the strong belief that hard data is about to turn more favourable as the high-demand season approaches".

Business

Oil gives up earlier gains as rising U.S. output, China concerns weigh

Undeterred by earlier failures to jawbone the price of oil higher, a new barrage of headlines hit courtesy of Reuters reiterating more of the same, and adding a new spin. "Unfortunately, the USA market where most analysts are focused, is where inventories have been fluctuating". From a bullish perspective, Falih confirmed Saudi Arabia and other oil producers are prepared to do " whatever it takes " to bring global crude inventories back to the five-year average.

Business

Does Plug Power Inc. (PLUG)'s current closing price competes the market?

EPS breaks down the profitability of the company on a single share basis. In case of Revenue Estimates, 24900 analysts have provided their consensus Average Revenue Estimates for Plug Power Inc .as 5000. TRADEMARK VIOLATION WARNING: This story was originally published by Markets Daily and is the property of of Markets Daily. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and worldwide copyright and trademark ...

Business

Warren Buffett Says Berkshire Hathaway Stock May Start Paying Dividends

Buffett, a supporter of Democrat Hillary Clinton in last year's US presidential election, said he believes Berkshire has made no political contributions at the parent company level in his 52 years at the helm, but some subsidiaries in heavily regulated industries "are probably going to have to make some" contributions.

Business

Delta apologizes to family removed from flight over seat dispute

Despite not explaining why the family was even asked to give up their purchased seat to begin with (it was not because the flight was overbooked), Delta has since stated that it would issue a refund and further compensate them. The incident has brought up several questions about aviation rules, from Delta's widely shared airline policy that children who are at least two years old must have their own paid seats to the Federal Aviation Administration's recommendation of vehicle seats for ...

Business

Buffett expresses sympathy, but Berkshire political spending proposal fails

There was also a robot dispensing Buffett's favorite cherry Coca-Cola . Buffett took himself to task on his large investment in IBM, which has not turned out so well, as of April 19 Buffett had an unrealized loss of about $787 million on the investment .

Business

Trump to Rollback Student Meal Plan Initiated by Michelle Obama

Providing more flexibility to school districts to serve food kids will eat has been a top priority for Roberts, who oversees the lunch program as chairman of the Senate Agriculture Committee. "This announcement is the result of years of feedback from students, schools, and food service experts about the challenges they are facing in meeting the final regulations for school meals", said Perdue, according to a statement from the USDA.

Business

Sundar Pichai makes it rain at Google, earns $200 million in 2016

CFO Ruth Porat said YouTube's revenues were growing "at a significant rate". Google has boosted sales from its core advertising and YouTube business, while also investing in machine learning, hardware and cloud computing, under Pichai's leadership, reported CNN.

Business

US Hosting ASEAN Foreign Ministers to Discuss North Korea Threat

Deputy assistant secretary for East Asian and Pacific Affairs Patrick Murphy told reporters that North Korea's foreign missions are suspiciously large. Balakrishnan, whose country signed the TPP, stressed the importance of U.S. -ASEAN business ties - annual trade of $100-billion supporting half a million U.S.jobs and $274-billion of U.S.

Business

Philippines 'focused on trade', not South China Sea tensions with Beijing

The South China Sea is a lucrative area as it contains ample oil, gas and fishery resources, while also facilitating some United States dollars $5 trillion worth of trade each year (hence being one of the world's key seaborne trade routes).

Business

Passengers fight after Spirit Airlines cancels flights

The Miramar-based company said it filed a lawsuit Monday against the Air Line Pilots Association, International (ALPA) and the ALPA Master Executive Council of Spirit pilots over the disruption, which has lead to to hundreds of canceled flights and impacted thousands of travelers.

Business

Easter holidays give United Kingdom retailers a much-needed sales boost

The performance is positively distorted by the timing of Easter and the highest since April 2011, another Easter distortion. The UK experienced a strong surge in Food sales during the Easter holiday season, presumably thanks to Easter Sunday falling in the middle of April, which increased 3.6% in total - the highest growth on record since 2004.


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