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Army vows to punish killers of young Kashmiri Lieutenant

Lt Gen. Abhay Krishna of the Rajputana Rifles Regiment said in a statement that the killing of Lt Fayaz marked "a watershed moment in (the) Kashmir Valley and people of Kashmir will decisively turn the tide against terrorism". The killing caused anger among locals who demanded that the men responsible be identified and punished. Just one month away from his birthday, 23-year-old Lt Ummer Fayaz , an officer from 2 RAJRIF, was found dead, riddled with bullets while visiting home in the ...

Business

Samsung flags record profits despite Galaxy Note fiasco

Back in March, Samsung officially announced that it would be putting refurbished units of the Galaxy Note 7 back on the market. Net profit for the first quarter of the year amounted to 7.68 trillion won ($6.7 billion), up 46 percent from a year ago, the firm said in a statement .

Business

Trump Slaps Tariff on Canadian Lumber in Response to Dairy Battle

On Tuesday a US-Canada trade dispute intensified as Justin Trudeau and Donald Trump clashed over softwood lumber and dairy tariffs. Later in the day, the White House said Trump and Trudeau talked by phone a few hours after the president's comments and had "a very amicable call".

Business

Stocks Reach Important Points: Coach, Inc. (COH), Cisco Systems, Inc. (CSCO)

Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $128,000. The institutional investor owned 9,968 shares of the network equipment provider's stock at the end of the first quarter.

Business

Markets at record highs on monsoon forecast; Nifty above 9400

IMD Director-General K.J. Ramesh told Reuters that India will likely receive above-average monsoon this year as concerns over the El Nino weather condition have eased in the past few weeks. They bought equities worth Rs 46.31 billion and sold equities worth Rs 37.38 billion. Midcaps gained nearly a per cent, while metals and banks gained around half per cent.

Business

Ryan Seacrest is Kelly Ripa's new Live co-host

In the fall, NBC will launch a 9 a.m. show to be hosted by Megyn Kelly, who was formerly with Fox News. Welcome to "Live With Kelly and Ryan". "Kelly Ripa crushes every morning". So who will the new co-host be? The seat has been open since former co-host Michael Strahan abruptly left previous year for "Good Morning America ".

Business

White House disputes Democrat claim of win on budget

The White House last week had dropped the request over concerns about passage of the broader spending bill; Republicans will need support from Democrats in the Senate to pass the legislation. "I don't think that's responsible leadership". "That's why I think you're seeing them crowing about their success is in order to cover up the fact that they actually cut a deal with President Trump , and President Trump did a tremendous job", he said.

Business

Federal Reserve set to wait on interest rate hike

The Fed increased its interest rate in March and December by 25 basis points each time. The dollar is gaining some ground against its major rivals Wednesday afternoon, after the Federal Reserve wrapped up its two-day policy meeting. "The FOMC is not overreacting to the mediocre economic data received in recent months", Long said . The Federal Reserve voted Wednesday not to raise its key interest rate, as central bank officials expressed concern with the pace of economic growth.

Business

Merkel's conservatives thump rivals in German regional vote

The Social Democrat leader and former European Parliament president told the Financial Times that the prospect of Greece leaving the single currency ... Preliminary estimates indicate the Christian Democrats could form a 42-seat majority in the region's 69-seat parliament with the Greens and the pro-business Free Democrats.

Business

Interior secretary questions monument status as way to save sacred land

After his arrival Sunday in Salt Lake City, Zinke was met by about 500 protesters who chanted, "Save our monuments, stand with Bears Ears". The rugged terrain south of the Colorado River also has reserves of oil and natural gas that are now off limits to new leasing - restrictions that may end as the Trump administration reviews 27 large-scale monuments his predecessors set aside for protection.

Business

Trump to meet Russian Foreign Minister in Washington

Comey was dismissed Tuesday, the White House announced, sweeping away the man who is responsible for the bureau's investigation into whether members of the Trump campaign team colluded with Russian Federation in its alleged interference in last year's election.

Business

'Terrific start to 2017' for Google's parent company Alphabet

Facebook and Google had accounted for 99 percent of the industry growth in digital advertising in 2016. The company said its net income rose to $5.43 billion, or $7.73 per share , from $4.21 billion, or $6.02 per share, a year earlier. The 44-year-old Pichai also received a $650,000 salary last year in addition to personal security services and air travel valued at $372,000. And while revenues at Google's YouTube online video business continued to grow, trouble is brewing following ...

Business

Fed Keeps Rate As-is Amid Economic Optimism

Downbeat economic news has gave policy makers reason to take a cautious approach to further tightening - first quarter economic growth was slow, the March jobs report flopped and core inflation remains subdued. After the dollar had risen across the board after the Fed's meeting on Wednesday, the dollar index which measures it against the top six world currencies, was up another 0.2 percent on the day at a two-week high of 99.462.

Business

Buffett 'blew it' by not buying stock in Amazon and Google

Buffett said flawed compensation is also a problem for hedge-fund managers, arguing that people would be better off sticking their money in a low-priced index fund. At the same time, Buffett said health care costs "are the tapeworm of American economic competitiveness " and have risen from 5 percent of gross domestic product in the 1960s to about 17 percent today.

Business

Emergency declared after tunnel collapse at Washington nuclear site

The Department of Energy has declared an emergency at the Hanford Nuclear site, about 150 miles southeast of Seattle. Workers at the decommissioned Hanford plutonium uranium extraction plant were evacuated, and those nearby were urged to take cover, secure ventilation areas and refrain from eating or drinking .

Business

Wal-Mart close to settlement with USA over alleged bribery

Fifth Third National Bank & Trust invested 0.18% of its portfolio in Wal-Mart Stores Inc (NYSE:WMT). Other hedge funds and other institutional investors have also recently made changes to their positions in the company. The company is reported to be profitable even with its free shipping and convenient returns policy, which would definitely be beneficial for Wal-Mart.

Business

Oil rises after hint of longer extension to Opec cut

West Texas Intermediate crude both fell to session lows below $49 and $46 a barrel, respectively. Brent and US light crude futures contracts closed on Tuesday at their second lowest levels since November 29, the day before OPEC announced it would cut output in the first half of 2017.

Business

Trump's mixed messages on ex-FBI Director Comey

Rosenstein, the recently-confirmed deputy attorney general, is the point man on the investigation of Russian interference in the 2016 presidential election because Attorney General Jeff Sessions recused himself after it was revealed that he had met with Russian Amb.

Business

Blixt-Smith widens lead at windy Zurich Classic

Kisner and Brown both squandered birdie putts on the 18th to open with a pair of pars, leaving Smith with his first opportunity to roll in a birdie putt for the win. The teams of Kelly Kraft and Kevin Tway, and Angel Cabrera and Julian Etulian, were tied for sixth at 12-under. Smith is the second player in a row to win at the TPC Louisiana and insure a spot in The Players.

Business

Oil prices rise on expectation of output cut extension

Reuters reported that OPEC and its non-OPEC partners were considering an extension to the current deal, which comprises an output cut of 1.8 million barrels per day (bpd), for nine months or more. However, the 166th ordinary meeting of OPEC in Vienna on November 27, 2014, which is seeing as the most important meeting since its historical meeting in late 1973, decided not to manage supply in the market to support falling oil prices, thereby signaling that there was no swing producer to the ...

Business

Oil Rises On Prospect Of Output Cut Extending Beyond 2017

OPEC Secretary General Mohammad Sanusi Barkindo admitted to CNBC in April that the group's "credibility" was at stake ahead of the meeting. "One factor weighing on trader positioning is USA crude production, which continues to climb and offset the impact of OPEC-supply cuts".

Business

Delaware trooper fatally shot outside convenience store

Witnesses attempted to administer life-saving aid until paramedics arrived, but despite efforts to save him, Ballard died. Sealy then drove about 15 miles (25 kilometers) to his home in a subdivision near Middletown. Wawa pledged to match the first $50,000 in donations. DE state police say a man believed to have shot a state trooper outside a Wawa convenience store is now barricaded inside his own house.

Business

Here's what Warren Buffett said about IITs and India

Buffet rightly explained during Berkshire Hathaway's annual meeting on Saturday that if driverless cars do become extremely widespread, it will only be due to their high safety relative to passenger vehicles. "I thought it would do better in the six years that have elapsed than it has", Buffett said of International Business Machines Corp. I did not think (Jeff Bezos) could succeed on the scale that he has.

Business

Oil prices edge up in anticipation of extended crude output cut

Industry sources and sources in Opec said the group and its non-Opec partners were considering an extension to the current deal, which comprises an output cut of 1.8 million barrels per day (bpd), for nine months or more. The OPEC production cut agreement is set to expire at the end of next month. "Those claims do not withstand the reality check with the inventories staying stubbornly high and non-OPEC production rising strongly".

Business

Federal budget with $75 billion infrastructure commitment

Both Aurizon and Pacific National commend the federal government's commitment towards the "nation-building project". The Commonwealth will accelerate construction on several sections. "I think even Malcolm Turnbull's harshest critics would be hard-pressed to say that this budget doesn't deliver and doesn't deliver for Queensland", Mr Nicholls said.

Business

Outgoing Jakarta Governor Jailed For Blasphemy

Photos quickly appeared online of Ahok , who still commands vast popularity in Jakarta being warmly greeted by prison staff. Ahok said he would appeal, but it was unclear if he would be released once that process is underway. Prosecutors had called for a suspended one-year jail sentence for Purnama on charges of hate speech. Many see his trial as a test case for religious freedom laws in Indonesia, the world's largest Muslim-majority country.

Business

Trump fires FBI director Comey

By ousting the FBI director investigating his campaign and associates, Trump may have added more fuel to the fire he is furiously trying to contain - and he was quickly criticized by a chorus of Republicans and Democrats. March 8, 2017: During a cybersecurity conference at Boston College, Comey said he planned to serve his entire 10-year term, quipping, "You're stuck with me for another 6½ years".

Business

Buffett Says Thesis Was Flawed on IBM, He Blew It Missing Google

For his part, Berkshire Chairman Warren Buffett on Saturday fumed that healthcare costs are eating away at the US economy like "tapeworm" and said the Republican approach to overhaul Obamacare is a tax cut for the rich. The fourth richest man in the world with a net worth totaling $74.3 billion, according to Forbes magazine, Buffett has vowed to donate almost his entire fortune to charity.

Business

Apple Posts Surprise Dip in iPhone sales, Shares Fall

The flagship iPhone sold 50.7 million units on the quarter, down one per cent, year on year. CEO Tim Cook revealed late Wednesday that his company has created a $1 billion fund to invest in US companies developing advanced manufacturing technologies.

Business

Pearson plc (PSON) Given New GBX 605 Price Target at Berenberg Bank

The Kidney Care division consists of its the United States dialysis and related lab services, its ancillary services and strategic initiatives, including its global operations, and its corporate administrative support. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing. Equities research analysts predict that BP plc will post $2.02 earnings per share for the current fiscal year.

Business

Standard Life announces 800 job cuts in Aberdeen merger

Standard Life said in a separate statement that its investment unit saw "encouraging" inflows in the first quarter, despite clients pulling 2.8 billion pounds from its flagship Global Absolute Return Strategies fund. "On balance we'd expect "The Street" could bring numbers down somewhat for (a) standalone Standard Life, though we note that Aberdeen posted a better-than-consensus first-half result last week".

Business

Gold futures settle higher as equities traded lower

On Tuesday, it dropped below its 100-day moving average to its lowest since March 15 at $1,213.81. Gold for June delivery on the Comex division of the New York Mercantile Exchange lost $10.24 or 0.84%, to $1,216.84 a troy ounce by 14:04 EDT.

Business

China CPI Climbs To 1.2% In April

Factory level inflation in China cooled more than expected in April, adding to the quickly expanding list of economic indicators that suggest the world's most populous country is facing a stiffer ascent ahead following a blockbuster first quarter, which generated nominal growth nearing 12%.

Business

OPEC oil cut extension roll over most liked - delegates

Brent fell $1.15, or 2.2 percent, to $50.37. Otherwise, it faces a risk of a decline in oil prices to a low of United States dollars 40/barrel again as the market might lose faith in OPEC's capability to control the market. "The market seems to be much further away from a balanced situation than some had previously forecast". Oil's retreat stoked declines in other commodities from iron ore to industrial metals.

Business

United Airlines reaches settlement with passenger violently dragged off flight

United also said it will take actions to reduce overbooking flights and improve customer satisfaction. United needed to clear seats for four crew members, but no one accepted the airline's offer of $800 and four passengers, including Dao and his wife, were chosen for involuntary denial of boarding.


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