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Fed's Yellen: Inflation Decline Driven By One-Off Factors

The decision by the Federal Open Market Committee ( FOMC ) today to raise interest rates for the third time in six months is a clear mistake, even judged against the Fed's too-conservative 2 percent inflation target. The broad-based S&P 500 was down a hair at 2,439.74, while the tech-rich Nasdaq Composite Index dipped 0.1 per cent to 6,216.47. The vote was 8-1, with Minneapolis Fed President Neel Kashkari dissenting from a rate increase for the second time this year, preferring no ...

Business

US consumer prices slipped 0.1 percent in May

Matt Hughes, senior statistician at the ONS, said: "Many labour market indicators remain strong, with the employment rate at a joint record high and the inactivity rate at a joint record low". Consumer prices, excluding food and energy costs, inched up by a seasonally adjusted 0.1%, below forecasts for 0.2%. Prices were up 1.7% on the year when excluding food and energy, the weakest mark in two years.

Business

The iPad Pro still needs a more robust operating system

Belkin's Apple Pencil stand comes in silver, gold, and space gray, and Feinberg likened it to an overpriced thimble , which is the flawless way to describe it. In March, Apple added a new 9.7-inch iPad, iPhone 7, and a bunch of other new Apple Watch bands and iPhone cases. In general, Apple's estimates were always on the conservative side; we've had our share of iDevices easily surpass the 10-hour mark in our battery-rundown test.

Business

Fed hikes key rate and unveils bond trimming plans

The moves Wednesday mark the latest test of the economy's ability to stand on its own as the central bank dials back the extraordinary stimulus measures it unleashed through successive bursts of bond purchases to boost household and business spending after the 2008 financial crisis.

Business

US Crude Oil Inventories Post Surprise Gain Last Week

Traders opined that the oversupplied market has kept the prices below $50 mark despite the extension of agreement between Organization of the Petroleum Exporting Countries ( OPEC ) and other producers to reduce 1.8 million barrels per day (bpd) of output to March next year.

Business

Amazon.com, Inc. (AMZN) Introduces Prime Reload With 2% Cash Back

With it you can get a 2 percent reward on everything you buy from Amazon . Effectively, in return for preloading cash into your Amazon account, the retail behemoth is promising 2-percent cash back on whatever you buy. From the standpoint of the consumer, Prime Reload seems like a decent way to get a small kickback - especially if you're the type that's averse to using credit cards / amassing debt.

Business

Fed Hikes Interest Rates Despite Declining Inflation

The yield on the 10-year Treasury note was 2.12 percent, the same as shortly before the statement came out. Investors are keenly interested in whatever the Fed says about its balance sheet because gradual reductions in its portfolio could raise long-term rates, even if only slightly.

Business

Fed poised to hike rates for 2nd time this year

With the Fed's decision hours away, bond bulls still seem to be holding sway: Speculators in 10-year futures are close to the most bullish since 2007, while a market-implied gauge of consumer price growth for the next decade is the lowest since November.

Business

How Many Kinross Gold Corporation (USA) (NYSE:KGC)'s Analysts Are Bullish?

Russell Investments Group Ltd. bought a new stake in shares of Kinross Gold during the fourth quarter worth about $22,916,000. KGC has been the topic of a number of research reports. The Return on Equity (ROE) value stands at -9.7%. The firm's quarterly revenue was up 1.7% compared to the same quarter previous year. The mining company reported $0.02 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.01 by $0.01.

Business

Kylie Jenner and Travis Scott just got matching tattoos

According to reports, Scott annd Jenner shared images of matching tattoos of a tiny butterfly on the back of their legs, via their respective Snapchat Stories. "For so long, I've been putting on this different persona to the world", Kylie says in the trailer. "I'm just really living my life". Life of Kylie is set to air on Sunday, August 6 at 9|8c.

Business

London fire: Baby caught after being 'dropped to safety from tower'

The death toll was expected to rise. London's Metropolitan Police say six people have died in the devastating fire that engulfed a west London apartment block. - Authorities are trying to determine how many people are still trapped. "My brother has friends and they live in there", he said. When no one came to help, she chose to escape on her own.

Business

Qatar's border with Saudi Arabia has become deserted after diplomatic rift

Turkey's president has criticised moves by Qatar's Gulf neighbours to isolate the emirate as "inhumane". He added that the countries that announced suspending ties, which included Saudi Arabia, Bahrain , the United Arab Emirates and Egypt , faced their own risk of financial hardship from damage to business in the region.

Business

Louisiana Congressman Steve Scalise shot at congressional baseball practice

House Speaker Paul Ryan's office said Scalise's wounds were not believed to be life-threatening and that a member of the security detail was also shot. A police officer was hit by the gunman after he got out of a parked vehicle and drew a handgun, according to Filous. The other, a woman, was eventually evacuated by helicopter with a serious wound.

Business

Fox News Dropping 'Fair & Balanced' Slogan After Two Decades

Fox News Host Bret Baier tweeted on Wednesday that the move was purely for promotional reasons. Fox executives have been instructed by management to market the network by its other tagline: "Most Watched". Fox News Headquarters in Midtown Manhattan. Ailes, 77, died last month , still seething about losing control of the network he had built with media mogul, Rupert Murdoch.

Business

Trump says Scalise shooter is dead

Investigators said they found anti-Trump messages on the shooter's Facebook social media page. House of Representatives majority whip Steve Scalise , 51, was shot in the hip . U.S. Rep. Joe Wilson also offered prayers for Scalise, his family and others injured. Williams said the gunman has been detained. President Trump will reportedly give remarks responding to the shooting at 11:30 a.m.

Business

Gunman wounds GOP congressman, then killed by police

Members were nearly breathless as they described the heroism of Capitol Police members who continued to shoot at the attacker despite being injured themselves. "It's too early to say. It's really raw at this moment", Slater said. Central during a Republic baseball team practice ahead of an annual charity game between House and Senate GOP and Democrats, a tradition since 1909.

Business

Federal Reserve Interest-Rate Decision-Live Analysis

And it predicted US unemployment would end the year at 4.3% instead of its previous 4.5% forecast . The Fed foresees one additional rate hike this year, unchanged from its previous forecast. "While we expect the formal announcement of a change in its balance sheet policy to be made in September, we do not rule out the possibility that strong guidance regarding the time frame for tapering is delivered sooner".

Business

Oil markets slow to balance, OPEC economists say

OPEC's figures confirm an S&P Global Platts survey from earlier this month, which placed the cartel's crude production at 32.12 million bpd in May, up by 270,000 bpd over April, with exempt Libya and Nigeria-and under-complying Iraq-mostly contributing to the output increase.

Business

Shares in Sirius XM Holdings Inc. (SIRI) Acquired by Sandy Spring Bank

Ltd. boosted its stake in shares of Sirius XM Holdings by 0.4% in the first quarter. Teachers Advisors LLC now owns 1,683,130 shares of the company's stock valued at $8,668,000 after buying an additional 58,924 shares during the last quarter.

Business

Ealing Council Statement After Grenfell Tower Blaze

London medics have treated 15 people for smoke inhalation and taken them to hospitals. "This is a large and very serious incident and we have deployed numerous resources and specialist appliances". Referring to the multiple complaints by residents, he said: "If this happened somewhere near Knightsbridge that would have been resolved". "I'm lucky to be alive.

Business

JP Morgan Chase & Co Reiterates "Neutral" Rating for UBS AG

About 7.32 million shares traded. It is down 39.42% since June 14, 2016 and is uptrending. It has underperformed by 16.70% the S&P500. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of J P Morgan Chase & Co during the first quarter worth about $1,367,000.

Business

US consumer prices dip 0.1 percent in May

Retail, or consumer price indexed ( CPI ), inflation in India during May falls to 2.18 percent, as compared with 5.76 percent in the same month of previous year, pulled down by sharp fall in food prices, official data showed in New Delhi on Monday.

Business

Australian police treating deadly shootout as terror attack

Australia's Prime Minister yesterday vowed to change state laws so that unsafe criminals are not released from prison early on parole, following a deadly siege by a paroled gunman that the authorities said was an "act of terrorism" . The group has claimed responsibility for a wave of deadly incidents in the United Kingdom, including the weekend attack in London that left seven people dead and nearly 50 injured.

Business

At least six dead in London tower block fire

An eyewitness at the Grenfell Tower fire has said that people were still screaming from the building hours after the fire began and fire engines had trouble getting to the scene. It was fire up, up, up. Methrob said residents had been concerned about safety, adding there had been warnings "for over a year". Boutrig said her friend's brother, wife and children lived in the building and that her friend was waiting to find out if they were OK.

Business

China's factory output rises in May

But some analysts expect increasingly stringent cooling measures will eventually drag on investment and dampen construction activity. A Reuters poll of analysts saw industrial production up 6.3 percent on year for May, down from the 6.5 percent gain posted in April.

Business

May starts DUP talks in bid to keep power

She told a meeting of backbenchers that she had got the party into "this mess" by calling the snap election and now "I'll get us out of it". In a sign of the parliamentary guerilla warfare that will face Mrs May as she attempts to run a minority government , a Labour source said: "In Parliament we will be using every opportunity to halt the Tory programme which doesn't have a mandate and use every mechanism to advance our own manifesto and agenda".

Business

'100 percent' willing to go under oath to refute Comey

President Donald Trump , who has hinted tapes exist of his conversations with fired FBI Director James Comey, declined to say if they do during a Friday Rose Garden press conference. At the same time , however, Trump reiterated his attacks on Washington's traditional European allies such as Germany and France for failing to raise their defense spending to 2 percent of GDP and suggested that they be forced to pay for years of alleged under-funding of North Atlantic Treaty Organisation.

Business

Bound Jaguar XF Sportbrake revealed

The automaker will offer a range of gas and diesel four-cylinder motors worldwide, but the American XF S Sportbrake will only be available with Jaguar's 380 horsepower 3.0-liter supercharged V6. Murray and coach Jamie Delgado faced comedians Rob Brydon and Jimmy Carr in a contest streamed live online, with commentary by Tim Henman. Away from the new back end, the Sportbrake is pure XF, although there's an optional - and huge - panoramic roof with gesture-controlled blind as well as a kick to ...

Business

SHOWDOWN: Sessions battles top Democratic senator over Comey's testimony

Testifying at a Senate hearing, Sessions , who was a close Trump adviser during the battle for the presidency, said it was a "detestable and appalling lie" to suggest that he participated in or was aware of any collusion between Russian Federation and the Trump campaign.

Business

Inflation surge puts pressure on Bank of England to raise interest rate

These upward moves were partially offset by falls in motor fuel prices, as well as air and sea fares. The consumer price index dipped 0.1%, missing expectations of a flat reading, and rose by 1.9% year-over-year. Meanwhile, retail sales dropped a surprising 0.3 percent last month, also due in part to falling gasoline prices, as Americans also bought fewer appliances and electronics, the Commerce Department reported.

Business

IN lawmakers react to Congressional baseball shooting

The Capitol Police force is our "thin blue line" on Capitol Hill. "This morning's tragic shooting in my hometown of Alexandria is horrifying", Beyer said in a statement. Steve Scalise, who was wounded in the shooting, not been there. "There's no escaping a guy if he's got several hundred bullets and we've got no weapons and no place to hide".

Business

UnitedHealth Group Incorporated (UNH) To Go Ex-Dividend on June 15th

Tetrem Capital Management Ltd sold 10,278 shares as Unitedhealth Group Inc ( UNH)'s stock rose 9.50%. Archford Capital Strategies Lc holds 800 shares. UNH's Director BALLARD WILLIAM C JR Sell 5000 shares of the company at a price of $182.64 on 2017-06-07. It is down 1.53% since June 13, 2016 and is downtrending.

Business

Fatalities confirmed as huge fire rips through Grenfell Tower in west London

We were just standing screaming and they were screaming". Residents said repairs had been made recently to the exterior of the block. Around 200 firefighters and 20 fire trucks have been deployed to tackle the blaze as rescue workers try to evacuate the building in Lancaster West Estate in North Kensington, London Fire Brigade said.

Business

Golar LNG Partners LP (GMLP) Cut to "Sell" at Zacks Investment Research

Clearbridge Investments LLC now owns 1,533,549 shares of the shipping company's stock worth $34,259,000 after buying an additional 345,000 shares during the last quarter. Therefore 80% are positive. HCA Holdings had 48 analyst reports since August 6, 2015 according to SRatingsIntel. Golar LNG Partners LP is based in Hamilton, Bermuda.

Business

General Electric Company (GE) Shares Bought by Prospera Financial Services Inc

The Company's subsidiaries include Hawaiian Electric Company, Inc. Dynamic Advsr Solutions Ltd Liability Company stated it has 2.5% in General Electric Company (NYSE:GE). $76,093 worth of La-Z-Boy Incorporated (NYSE:LZB) shares were sold by KERR JANET . Among 12 analysts covering GlaxoSmithKline ( NYSE:GSK ), 7 have Buy rating, 0 Sell and 5 Hold.


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