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Trump reports weigh on stocks and the dollar

Emerging-market equities halted a seven-day rally. Another drop in USA crude inventories - the sixth straight weekly decrease - pushed oil prices higher today. United States stocks fell again as worries over the political controversy surrounding the Trump presidency continued. Where is the loonie heading? In UK stocks, Burberry shares jumped 39p to 1,680p after a 10% rise in annual underlying profits thanks to the weaker pound, which bolstered foreign income.

Business

Summit Midstream Partners, LP (NYSE:SMLP) Investor Update & Valuation Review

A number of investment brokers have recently updated their price targets on shares of Antero Midstream Partners LP (NYSE:AM). 05/31/2016 - Antero Midstream Partners LP had its "overweight" rating reiterated by analysts at JP Morgan. The Company's assets primarily consisted of natural gas gathering pipeline, two 200 million cubic feet per day (MMcf/d) design-capacity cryogenic natural gas processing plants, and residue gas and NGL transportation pipelines, as of December 31, 2016.

Business

Oil prices back in the $40s, sink to 5-month low

NEW YORK, May 5 (Reuters) - Oil prices closed 1.5 percent higher on Friday, rebounding from five-month lows, following positive U.S.jobs data and assurances by Saudi Arabia that Russian Federation is ready to join OPEC in extending supply cuts to reduce a persistent glut.

Business

Gold creeps up as dollar drops

U.S. President Donald Trump is under pressure to explain whether he tried to interfere with a federal investigation after reports that he asked then-FBI Director James Comey to end a probe into his former national security adviser Michael Flynn.

Business

USA agrees not to bring in Europe-wide laptop ban - for now

Passengers flying between Europe and the USA can continue to take laptops and tablets in their hand luggage for now at least, following a meeting between European Union and U.S. "Given the risk of fire from these devices when they are damaged or they short circuit, an incident in the cabin would be spotted earlier and this would enable the crew to react quickly before any fire becomes uncontainable", he said.

Business

Amazon's Echo Show Is The Improved Personal Assistant

Now, Amazon is preparing to add a visual element to Alexa with the Echo Show ($229), the first Echo device with a screen. While the voice-activated assistant is capable of connecting to devices such as the Philips Hue lighting system, ArsTechnica says it will also be compatible with "smart cameras from Ring and Arlo ".

Business

Brazil's Temer denies corruption charges

An natural disaster shook Brazil's government on Wednesday (May 17th) night with reports that President Michel Temer was recorded giving his endorsement to the pay-off of a top politician for his silence. Mr. Cunha was convicted earlier this year of money laundering and corruption as part of the Operation Car Wash anticorruption probe. During the meeting, the report said, Batista recorded himself telling Temer that he was paying money to disgraced ex-speaker of the lower house Eduardo ...

Business

Democrat to Congress: President Trump 'must be impeached'

Representative Jason Chaffetz, Republican-Utah, says in a letter to the FBI that he's making the request to determine whether the president attempted to influence or impede the bureau's investigation into Mr Flynn. He also believes Comey will come back and testify. "So from my point of view this is of enormous outcome for his presidency". King said those who are talking about impeachment right now, in the absence of evidence, are talking about "nullifying an election".

Business

Buffett faults Wells Fargo laxity in sales scandal

Update: Wells Fargo has issued a statement in response to Buffett's critique, saying: "We agree with Mr. Buffett's comments and value Berkshire Hathaway as a long-term shareholder and customer". Buffett defended Berkshire's foray into airlines, where it is a top investor in American Airlines Group Inc, Delta Air Lines Inc, Southwest Airlines Co and United Continental Holdings Inc.

Business

Applications for US jobless aid fell to 3-month low of 232K

The four-week moving average declined to 1.946mn from 1.966mn previously and the lowest level since January 1974. Claims have been below 240,000 for the past 3 weeks and the sustained low level of initial claims continues to indicate that layoffs are running at very low levels.

Business

Russia, Saudi call for oil output deal extension

U.S. West Texas Intermediate (WTI) crude oil futures were at $47.88 per barrel, also little changed from the last settlement at $47.84. Brent crude futures, the global benchmark for oil prices, were at $50.86 per barrel at 0125 GMT (9:25 p.m.

Business

Forex - Dollar hits fresh 3-week lows against yen on Trump woes

After months of major stock markets posting record highs and historically low volatility across a range of asset classes, a reversal was always on the cards. The greenback fell against other major currencies in the aftermath of allegations that Trump in February asked James Comey to end the FBI's investigation into former national security adviser Michael Flynn.

Business

Alibaba quarterly profits almost double to $1.55 bn

The company, whose Singles' Day on November 11 every year is the biggest online shopping festival on earth, reported 3.8 trillion yuan of gross merchandise volume last year. On Wednesday morning, meanwhile, Tencent reported first quarter revenue of RMB49.6 billion (up 55%, equal to $7.2 billion) and net income of RMB14.5 billion (up 58% and equal to $2.1 billion), beating consensus estimates of RMB46.4 billion ($6.7 billion) and RMB13 billion ($1.9 billion), respectively.

Business

Ralph Lauren hires French CEO from beauty sector

Louvet will take up his position as president and chief executive officer on July 17, the fashion company announced from its NY headquarters. Larsson left on May 1 after a reported feud with Ralph Lauren himself after a year and a half with the brand.

Business

World Leaders Congratulate Emmanuel Macron on Winning French Presidency

After her defeat on Sunday night, Marine Le Pen hit the dancefloor on Sunday night and in extraordinary scenes emerging from her party headquarters, she was filmed getting down to I Love Rock and Roll by Joan Jett & the Blackhearts and YMCA by Village People.

Business

USC flexes brand muscles with L.A. Coliseum naming rights deal

United Airlines may be paying $70 million over a 15-year period for the right to put the company's name and logo on the 94-year old stadium. The Memorial Coliseum name had to be worked into whatever the place is called. The agreement is set to be worth $70M for 15 years and would be a record for college football. Under terms of the arrangement, USC reserved the right to veto any name, which is required to incorporate "Memorial Coliseum" in some way.

Business

Average US 30-year mortgage rate slips to 4.02 percent

Mortgage buyer Freddie Mac said Thursday the average rate on 30-year fixed-rate home loans slipped to 4.02 percent from 4.05 percent last week. At the current average 30-year fixed mortgage rate of 4.15 percent, the monthly payment for a $200,000 loan is $972.21.

Business

Does Trump Have Tapes of His Comey Conversations?

Only 40% of those surveyed approve of the job being done by the Trump administration, while 54% do not, the survey found. The person who described the Comey memo to the AP was not authorized to discuss it by name and spoke on condition of anonymity.

Business

Vice President Jahangiri Quits Iran Presidential Election Race

We believe Rouhani is poised to win because of his favorable economic program, openness to Iran's civil society, relationships with the United States and other worldwide partners, and his current political position compared to the alternative candidates.

Business

Commerce Department to Launch Probe into Boeing, Bombardier Dispute

It argues that Bombardier's true goal is to grab half the US market share for 100-to-150-seat aircraft and it is using its sale of cheap planes to Delta to build momentum. Lawyers for the USA aerospace giant argued Thursday that Bombardier's own words prove it was rescued financially by multibillion-dollar assistance from the Quebec government, which a year ago invested US$1 billion in exchange for a 49.5 per cent stake in the CSeries.

Business

Chinese jets intercept US radiation-sniffing plane, US says

A WC-135 Constant Phoenix aircraft was intercepted by Chinese fighter jets while it was conducting a routine mission, NBC said Thursday. The US crew aboard the US Air Force WC-135 characterized the move as " unprofessional ", according to the statement from Air Force Lt.

Business

Salesforce posts better-than-expected quarterly revenue (CRM)

The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . On Wednesday, February 15th, Craig Conway sold 250 shares of salesforce .com, inc. (NYSE: CRM ) or 49,048 shares. U.S. based company, Salesforce .com, inc. Morgan Stanley reaffirmed an "overweight" rating and issued a $107.00 price objective on shares of salesforce .com, inc.in a report on Wednesday, March 8th.

Business

Times Square crash victim was 18-year-old Michigan woman

According to Daily Mail , he could have been under the influence of synthetic marijuana , and though he has two DWIs on his record, he was given a breathalyzer at the police station which confirmed that no alcohol had been in his system.

Business

Play ball ... faster! MLB, union to meet on pace of game

And Facebook has landed other deals around the world, including live streaming 46 Mexican soccer games this season. The broadcast each week will be a feed from a participating team's local broadcast rightsholder. Live sports are emerging as a primary video content target for digital platforms like Amazon, Twitter and Facebook that are looking to expand their programming slates and hopefully pull ad dollars away from television.

Business

Wal-Mart sees online sales surge, draws more shoppers

In March, the company received a patent for a process in which drones would transport products between departments in stores. Growth in the business has been picking up after Wal-Mart said in October it would slow down new store openings to focus on expanding its e-commerce business.

Business

What is Amazon Prime Reading? Amazon's new free reading service explained

Titles highlighted in the Prime Reading launch offering include the Man Booker Prize shortlisted The Fishermen by Chigozie Obioma, Harry Potter and the Philosopher's Stone by J K Rowling, The Angels of Lovely Lane by Nadine Dorrie, as well as non-fiction and short-form content including Kindle Singles by Susan Hill and Howard Jacobson and works from authors such as Gloria Steinem.

Business

Comac C919 takes off for maiden flight in China

With a standard range of 4,075 kilometres, the narrow-body jet is comparable with updated Airbus 320 and Boeing's new generation 737, signalling the country's entry into the global aviation market, Xinhua news agency commented. This includes the electrical system and landing gear, which are produced in the USA by Honeywell International. Airbus has estimated Chinese airlines will need almost 6,000 new planes over the next two decades, while Boeing foresees 6,800 aircraft.

Business

Cathy McMorris Rodgers spokesperson issues statement on her response to Putin comment

House Majority Leader Kevin McCarthy suggested past year to fellow top Republicans that Russian President Vladimir Putin was paying Donald Trump , according to a published report . McCarthy's comment really does sound like dark humor. Rohrabacher, who has a history of expressing support for the Putin regime and has been described as "Putin's favorite congressman", told the Guardian Wednesday night that McCarthy reassured him it was a joke.

Business

Uber is now officially in the trucking business too

And Uber Freight says it will compensate truckers for unexpected hassles, like waiting longer than expected for a load. Now it seems that the company wants to disrupt the cargo industry next with Uber Freight . Uber Freight's initial focus is on the two most common freight types in the US, dry van and refrigerated (reefer), which offers a lot of space to route and optimize movements of these small fleets using the app, as well as provide ways to visualize and guarantee the highest levels ...

Business

Extending Oil Output Cuts Will Stabilise Prices, Says Putin

US stock indexes are pointed toward narrowly mixed openings when the NY day session begins. The Organization of Petroleum Exporting Countries and other major producers have reached a preliminary agreement to extend limits on output, state-run Kuwait News Agency reported on Sunday, citing Oman's oil minister Mohammed Al Rumhy.

Business

Microsoft criticises NSA's role in the global cyber attack

A statement released today by Hampshire Hospitals NHS Foundation Trust said: "Radiology services at Basingstoke and North Hampshire Hospital have returned to normal following the national cyber-attack". Dr Hampson outlined to OT that the cyber attack had the potential to severely impact patient care. Just this Friday, the NHS experienced what is now being called a "ransomware attack", with the cyber security breach causing 16 out of 47 trusts to face issues.

Business

Brady touts border-adjustable tax in House GOP plan; Mnuchin skeptical

What Warren is getting at is this: The Trump administration is doing its best to make everyone think it is bringing back the Wall Street regulation - to deliver on a Republican campaign promise - when all it's really doing is using the old law's name.

Business

Senate Intelligence Committee Wants to See Comey Memos

Chaffetz, a conservative Republican who was first elected to the House of Representatives in 2008, gained prominence as head of the committee that investigated Democratic presidential candidate Hillary Clinton's use of a private email server while she was USA secretary of state.

Business

This burger chain was just rated America's favorite

In 2003, the restaurant started franchising and today there are almost 1,500 restaurants worldwide. Burger juggernaut McDonald's could only make it to number seven in the rankings, behind smaller operators including Wendy's at four and Culver's at five.

Business

Ian Poulter accepts invite for BMW PGA Championship at Wentworth

Finishing second rarely sits well with Ian Poulter but on Sunday the Englishman was in good spirits after his joint runner-up performance at The Players Championship. Cabrera Bello threw his 8-iron high in the air, and it went into the water, though at least it could be retrieved. "I really wish we could have that benefit", Kim said.


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