Economy


Oil falls on production cut skepticism
- December 07, 2016

This has anxious big buyers like India, which imports more than 80 percent of its crude oil and has benefited from two years of soft prices. Brent crude, the global benchmark of prices, dropped 1% to $54.40. As well, they noted Saudi Arabia announced the biggest price discount in official selling prices for Asian customers on Monday, suggesting the country is keeping up with its strategy of defending market share. (more...)
'The most famous pub in England' bought by Chinese investment company 'The most famous pub in England' bought by Chinese investment company
- December 07, 2016

Located near Chequers, the prime minister's official country residence, the rural tavern was bought by Chinese investment company SinoFortune, which plans to use it as a model for a chain of British pubs in China. "We see bigger opportunities, namely countries lying between China and Europe, where we believe we could also export the United Kingdom brand internationally", he said. (more...)
Market Rating: Loop Capital Covers Marvell (NASDAQ:MRVL) Market Rating: Loop Capital Covers Marvell (NASDAQ:MRVL)
- December 07, 2016

Marvell Technology Group (NASDAQ:MRVL) opened at 14.34 on Thursday. The firm has a 50-day moving average of $13.28 and a 200-day moving average of $11.74. State Street Corp now owns 10,392,245 shares of the company's stock valued at $99,033,000 after buying an additional 189,900 shares in the last quarter. (more...)
Japanese mogul pledges $50 billion US investment Japanese mogul pledges $50 billion US investment
- December 07, 2016

President-elect Donald Trump is claiming credit for a $50 billion investment in the United States by a Japanese tech conglomerate - a deal he says wouldn't have happened without him. "Masa said he would never do this had we (Trump) not won the election!" the president-elect tweeted. Sprint has struggled since Softbank bought it. (more...)
US controversial North Dakota oil pipeline project halted
- December 07, 2016

Assistant Army Secretary for Civil Works Jo-Ellen Darcy said in a news release that her decision was based on the need to "explore alternate routes" for the pipeline's crossing. One officer was injured. Navy veteran and Harvard graduate student Art Grayson came to the camp because he "couldn't stand by and watch people being abused", a reference to contentious and debated clashes between protesters and law enforcement. (more...)
Trump threatens payback for US companies that move abroad
- December 06, 2016

Sticking to his pre-election rhetoric, US President-elect Donald Trump on Sunday warned of imposing a 35% tax on products manufactured by American companies that either requires jobs to be outsourced overseas or build a new manufacturing facility in another country. (more...)
Steelers defense playing important role in turnaround
- December 06, 2016

Instead of publicly putting Beckham in his place and reminding him not to sweat the refs and certainly not to claim Terry McAulay's crew shouldn't work Giants games anymore, McAdoo, in his own way, complained that plenty of calls unfairly went the wrong way in his team's 24-14 loss to the Steelers. (more...)
United Kingdom economy to grow more slowly after Brexit, finance minister says United Kingdom economy to grow more slowly after Brexit, finance minister says
- December 05, 2016

He noted that this is equivalent to the IMF's forecast for growth in Germany next year, and better than forecasts in Italy and France. He attributed the fall to lower investment and weaker consumer demand, driven by greater "uncertainty and by higher inflation resulting from sterling depreciation". (more...)
Boris Johnson walks out on 'pub quiz' after failing to name leader
- December 05, 2016

The British Foreign Secretary said Prime Minister Theresa May wanted to retain control of borders, control of money, control of laws and the ability to do free trade deals. "Now is the time to build a new and productive relationship (with the EU), based on friendship and free trade, and a new European partnership where we continue to develop our work on things that matter to all of us in Europe", Johnson added. (more...)
Russian Federation repels foreign-sponsored cyber attack on banking system: FSB Russian Federation repels foreign-sponsored cyber attack on banking system: FSB
- December 03, 2016

Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Two weeks ago the destructive computer virus "Shamoon" was used by unidentified global hackers to launch a cyber attack on networks of government bodies and organizations, multiple United States security firms said on Thursday. (more...)
Android malware campaign 'targets 1 million Google accounts' Android malware campaign 'targets 1 million Google accounts'
- December 02, 2016

That's according to cybersecurity software company Check Point , which discovered a new piece of malware called " Gooligan " that's infecting Android phones and stealing email addresses. Check Point has a list of the known apps that have been infected by the Gooligan malware. Check Point says it is working with the Google Security team to help find a fix. (more...)
New £5 notes contain animal fat and people aren't happy
- December 02, 2016

Despite the petition and uproar on Twitter , the Bank has not provided any indication that it plans to remove the fat-tinged notes from its menu. Tallow is used in the manufacture of the fiver's substrate - aka the underlying substance or layer. (more...)
OPEC Ministers To Decide On Production Cuts Amid Saudi-Iranian Jostling
- December 01, 2016

After the meeting, Saudi Arabia's Energy Minister, Khalid al-Falih said the deal was a welcome outcome. Crude oil prices gained momentum in early Asian trade despite rising doubts over the production cut deal due to a disagreement between Saudi Arabia , Iran , and Iraq . (more...)
Ed Balls, Ore Oduba and Lesley Joseph latest celebrities…
- December 01, 2016

The head judge will be stepping down from the show at the end of the current series but will appear in the Christmas special, which will be his last outing on the panel. my and the [other United Kingdom judges] were chatting away and we were chatting about who would take over and Bruno said - because he's done the Australian show - he said "I tell you who's great, Helen Richey". (more...)
Reliance Jio to lead 4G revolution in key markets like India: IDC
- December 01, 2016

The benefits of free unlimited Voice and data under the Welcome offer are available to its subscribers till December 31, 2016, but only to those customers who subscriber by December 3, the end of the 90-day period permitted for introductory offers after their launch , as mandated by the regulator, the Telecom Regulatory Authority of India. (more...)
Playtech founder offloads 12% stake for £329m Playtech founder offloads 12% stake for £329m
- December 01, 2016

According to Morningstar, Brickington held a 33.6% stake in the company before the sale, and will remain the company's largest shareholder. The company announced yesterday that Brickington had originally planned to sell around 32.2m shares, or an around 10% stake, via an accelerated book build through UBS Limited, Canaccord Genuity Limited and Credit Suisse Securities Ltd. (more...)
Albertsons in talks to buy Price Chopper Albertsons in talks to buy Price Chopper
- December 01, 2016

Price Chopper , headquartered in Schenectady, N.Y., operates 130 stores in the Northeast, including New York, Connecticut and MA. "There are no current plans, nor intentions, to sell any stores". The parent company of Hannaford, Lake Placid's other supermarket, was the Belgium-based Delhaize Group until recently, when it merged with Netherlands-based Royal Ahold NV in a $10.4 billion deal. (more...)
Iran, Iraq at loggerheads with Saudis ahead of OPEC meeting
- November 30, 2016

Welch noted that, a deal will be extremely challenging to deliver, given the political differences between members, particularly Saudi Arabia and Iran, and several OPEC nations actively trying to increase production - Iran, Iraq, Nigeria and Libya. (more...)
North Dakota Governor Orders Pipeline Protesters to Leave, Citing Winter Weather
- November 30, 2016

Sign up to our daily newsletter for up to date global news and features. As The Guardian reports , "Thousands of Native American and environmental activists have gathered at the encampment, which is on Army Corps land just north of the Standing Rock Sioux Reservation and close to the site where the Dakota Access pipeline is slated to cross under the Missouri river". (more...)
Freezing oil production will be Russia's only contribution to stem global glut Freezing oil production will be Russia's only contribution to stem global glut
- November 30, 2016

On Tuesday, Iraq's foreign minister said OPEC should allow his country to continue increasing production with no restrictions, Kallanish Energy notes. Baghdad is also still debating whether it should cut from the levels of OPEC's estimates or its own, higher, production figures. If there's no agreement to restrict output, the International Energy Agency has said that oil prices are likely to fall in 2017. (more...)
Obama's rough ride on health care offers lessons for Trump Obama's rough ride on health care offers lessons for Trump
- November 29, 2016

Trump's upset win, and other favorable GOP election results, have created a "Republican wave", said West Chester Township resident and Cincinnati Tea Party leader Ann Becker. -1st, sought to boost his standing in the new Congress with a bid for the chairmanship of the GOP House's think tank, the Republican Study Committee. (more...)
Order may have little effect on protest camp
- November 29, 2016

In the most recent clash between police and protesters, which was near the path of the pipeline and happened last week, officers used tear gas, rubber bullets and large water hoses in freezing weather. "If you believe in the inalienable rights of people; the right to clean drinking water, the right to food & shelter and the right to freedom then you have to support standing rock". (more...)
Greece urges European Union to cut surplus targets to boost competitiveness Greece urges European Union to cut surplus targets to boost competitiveness
- November 29, 2016

European Central Bank executive Benoit Coeure has urged lenders to grant Greece relief on its massive debts, the Washington Post reports . But Greece fears the measures would deepen its welfare crisis. Moscovici will meet with the Minister of Finance Euclid Tsakalotos at 18:15. "All stakeholders in the Greek adjustment programme realise that there are serious concerns about the sustainability of Greek public debt", Coeure told an Athens conference. (more...)
Mpls. Fast-Food Workers To Strike Tuesday For $15 An Hour Mpls. Fast-Food Workers To Strike Tuesday For $15 An Hour
- November 29, 2016

The effort, backed by the Service Employees International Union, is being called the Fight for $15 Day of Disruption. Participants chanted "We shall not be moved" and waved signs that read "We won't back down" and "Strike for $15 and our future". (more...)
Charging decision expected in Wayne State officer's death Charging decision expected in Wayne State officer's death
- November 28, 2016

The suspect has had several run-ins with police, Holt said . The judge read off the charges including first-degree murder and murder of a police officer, asking him if understood the charges and that conviction would mean life without parole. (more...)
US Thanksgiving, Black Friday store sales fall, online rises
- November 28, 2016

More Americans think it is "easier to shop from one's couch than to fight one's way through the mall", Ray Harjen, a spokesman for RetailNext, an in-store analytics firm, which reported that the number of store visitors fell almost 11% on Black Friday from a year ago and sales dropped more than 10%. (more...)
Cheteshwar Pujara and Virat Kohli tighten India's grip on third Test Cheteshwar Pujara and Virat Kohli tighten India's grip on third Test
- November 27, 2016

Coming back into the Test team after eight years, Patel did not look much jittery while wielding the willow compared to his blemishes while donning the big gloves as Indians lost only Murali Vijay (12) during the opening session. On Sunday, the first wicket that the Indian pacer grabbed was a flawless display of getting a batsman out with seam movement. Easily Alastair Cook's most preferred spinning option, the legspinner was in excellent rhythm but never too threatening, though the arrival of ... (more...)
Sindhu, Verma falter at final hurdle in Hong Kong Super Series Sindhu, Verma falter at final hurdle in Hong Kong Super Series
- November 27, 2016

Sindhu then stretched her lead to 15-11, and thereafter, remained at least four points ahead as the Hong Kong player tried vainly to break her rhythm. With a partisan crowd firmly behind him, Angus opened a 7-3 lead. While Verma's retrieval skills were commendable, he struggled to close points out in the third game as Angus stretched the lead to 13-6. (more...)
Critics upset as they were tripped by demonetisation: Modi Critics upset as they were tripped by demonetisation: Modi
- November 27, 2016

His point was echoed by the BSP supremo Mayawati who wanted PM must come to House and apologise. Prime minister has been arguing that this is the way to curb black money , to prevent growth of forfeited currency notes and also to help in control of terrorist finance activity. (more...)
Swiss cast ballots on referendum on nuclear energy Swiss cast ballots on referendum on nuclear energy
- November 27, 2016

In the wake of Fukushima, the Swiss government announced the plan to gradually phase out nuclear power, once the plants were no longer viable on the advice of the businesses which run them and the Swiss nuclear watchdog. Supporters of a quick phase-out of nuclear also say that Switzerland, already famous for strict environmental policies, ought to be providing Europe with a shining example of renewable energy, rather than relying on elderly nuclear reactors. (more...)