Economy

Opec chief sees oil producers near to re-balancing market

Gasoline inventories rose 1.54 million barrels last week, surprising analysts surveyed by Bloomberg who projected the Energy Information Administration data would show a 2-million-barrel decline. Brent crude futures were at $53.08 per barrel at 0430 GMT, up 15 cents, or 0.3 percent, from their last close. USA crude futures were down 9 cents at $50.50 a barrel. Read More

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Trump unveils 'huge' tax cut plan

We discussed the pros and cons of President Trump's proposed tax cuts, which would slash income tax rates on businesses from 35% to 15%. A repeal likely would affect only people who expect to inherit large estates. That plan reduced federal revenues by nearly 19 percent, according to a Treasury report . The median household income in the U.S.is about $55,000, though people living in high-cost areas can make much more than that and still feel like they are in the middle class . Read More

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Greece promises greater austerity to secure bailout funds

The breakthrough, after marathon 12-hour talks, became apparent only when the Greek finance minister, Euclid Tsakalotos, announced in the small hours that "white smoke" had been achieved. Promising to cut pensions and give taxpayers fewer breaks, Greece has paved the way for the disbursement of further rescue funds from global lenders and possibly opened the door to reworking its massive debt. Read More

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Pembina Pipeline to Purchase Veresen for $4.28 Billion

Veresen, also based in Calgary, is an energy infrastructure services firm which focuses on pipelines, midstream and power generation services. Veresen board of directors chairman Stephen Mulherin said: "The combined scale and financial strength, along with a proven track record of safe, on-time and on-budget project delivery, gives us confidence that the collective growth programme now under construction of approximately $6 billion will translate into meaningful value for shareholders". Read More

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Back to the ballot box: United Kingdom lawmakers approve June 8 election

Back to the ballot box: United Kingdom lawmakers approve June 8 election

A large majority for the Tories would strengthen the Government's hand in negotiating a good Brexit deal and provide "strong and stable leadership in the national interest", she said. If the election is approved Wednesday, Parliament will be dissolved on May 2, sparking nearly six weeks of campaigning. Britain's Labour Party Leader Jeremy Corbyn has pledged to run a campaign for "working people" in an election that pitted "the establishment" against the "people". Read More

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International Monetary Fund says Greek debt relief still needed after bailout deal

International Monetary Fund says Greek debt relief still needed after bailout deal

The agreement includes labour and energy measures as well as pension cuts and tax rises. Greece needs to repay 7.5 billion euros ($8.2 billion) of debt by July. If Greece beats its targets, the government will be able to implement a number of offsetting measures to ease the austerity burden, according to an official in Prime Minister Alexis Tsipras's government who asked not to named discussing the program. Read More

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Philippines President Duterte says he may turn down Trump's White House invitation

Duterte had threatened to " break up " with his American allies amid USA criticism over Duterte's alleged human-rights violations, namely extrajudicial killings in his nation's war against drug trafficking. "Absolutely", Trump said . "We'd love to solve things diplomatically, but it's very hard". "My hope is that the president of the United States will convey this deep sense of alarm about the apparent shirking of the obligations under the law - to subject any alleged violator of the law ... Read More

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Brent crude closes at 2017 low, erases gains since OPEC's cuts

Oil stocks have steadily built for almost three years amid sharp production increases in the United States, Iraq, Iran, Brazil and other regions, sparking a slide in oil prices from above $100 in 2014 to $30 last year. "Well, there's been some downward pressure" on oil prices , with traders "wondering whether or not OPEC would keep the cuts in place". OPEC producers are "100% certain" to extend their end of the output cut deal at a May 25 OPEC ministerial meeting in Vienna, Fereidun ... Read More

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Trump says he plans tax reform announcement on Wednesday

A number of conservative budget experts - including key congressional aides who write tax law - have said the White House has an overly rosy view on what the economic impact of their tax cuts would be. Key among them was a six-month review of core parts of the Dodd-Frank law, a measure passed by predecessor Barack Obama in the wake of the 2008 global financial crisis that put "too big to fail" USA financial groups under additional regulator scrutiny. Read More

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Japan final April PMI shows manufacturing activity accelerating, export orders solid

Japan final April PMI shows manufacturing activity accelerating, export orders solid

That was a big drop from the 51.8 reading reported in March, as the growth of new orders slowed. He said growth was being underpinned by strengthened sales from overseas, which has helped to offset ongoing domestic demand weakness. Britain's factories enjoyed their fastest growth for three years last month on the back of strong demand at home and overseas, according to a survey that will temper worries about a Brexit-driven economic slowdown this year. Read More

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Dallas gunman was under FBI investigation before shooting spree

Dallas gunman was under FBI investigation before shooting spree

A police robot entered the home after several hours and located the bodies of two people, including the suspected shooter. The mayor said the paramedic will "have to undergo extensive medical treatment". A bullet fragment, police believe, injured Bruce's calf. "He went in alone and he pulled the paramedic out, placed him in his squad vehicle and drove him to Baylor hospital", Pughes said. Read More

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Sensex opens at record high; Rupee gains 19 paise

Sensex opens at record high; Rupee gains 19 paise

The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a higher note during the morning session of the trade and touched its all time high at 30,071 levels while Nifty touched its new peak while trading at 9343.15 levels. According to the provisional data released by the stock exchanges, FPIs offloaded shares worth Rs 492.52 crore, which suggests that the rally was primarily driven by domestic investors. Read More

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How Long Does OPEC Need to Cut Production?

How Long Does OPEC Need to Cut Production?

Venezuela sends a large share of its oil exports to the United States because of the proximity and the operation of sophisticated U.S. Gulf Coast refineries specifically created to handle heavy Venezuelan crude. OPEC's no.2 producer, Iraq, promised to cut 210,000 bpd to a level of 4.351 million bpd, while Iran - the cartel's no.3 and bitter regional rival of Saudi Arabia - was allowed to raise its output to 3.797 million bpd. Read More

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Arrests made as thousands rally in USA for against Trump

Arrests made as thousands rally in USA for against Trump

In the Washington state capital of Olympia, police ordered protesters to disperse, calling them "members of a mob" as some threw bottles, used pepper spray and fired marbles from slingshots at officers. In Austin, protesters staged a sit-in in Texas Gov. Greg Abbott's office demanding that he veto a controversial new immigration measure passed last week by the state legislature. Read More

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'I'd be honored' to meet North Korean president, says Trump, receives criticism

Calling North Korean leader Kim Jong-Un "a pretty smart cookie", the USA president said he had no idea whether Jong-Un was sane, but he admires the leader for being able to deal with tough people and assume power at a very young age. "If China wants to do something constructive then they ought to focus less, in my opinion, on South Korea's defensive preparations [and] focus instead more on North Korea's offensive preparations", he added. Read More

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Upstart Maple Leafs sent packing in heartbreaking overtime loss to Capitals

Upstart Maple Leafs sent packing in heartbreaking overtime loss to Capitals

The fans get it. His mindset just doesn't think anything else, but winning. By the all-star break, the Leafs found themselves in the playoff race following a 19-game run where they went 12-3-4. Game 5 was another grinder of a game, as the two teams only combined for 53 shots on goal in an OT contest. Kadri and Ovechkin had words - good ones - during the post-game congratulations. Read More

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Facebook Interns Making $8000 A Month

Facebook Interns Making $8000 A Month

For what it's worth, the median annual household income in the U.S.in 2015 was $56,516. More recently, however, companies have been placing more stock in their interns and paying them higher salaries. That's roughly $2,600 per month. And don't forget: Many internships aren't compensated at all. The traditional internship in the USA was once a low-wage, or even unpaid, rite of passage for college students, who spent their summers answering phones or making coffee. Read More

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Google Shares Rise On Earnings Beat

On Thursday, April 27, the company announced its profit and sales figures for the first quarter of 2017. Taking out commissions of $4.008 billion paid to Google Network Members, Alphabet posted revenues of $20.12 billion, beating our consensus estimate of $19.650 billion. Read More

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France's Le Pen says the people revolting against the elite

Not only have all the mainstream parties joined forces to thwart her ascent, a tactic they used in 2002 to successfully shunt her father, Jean-Marie Le Pen. " Marine Le Pen is coming here?" French centrist presidential candidate Emmanuel Macron , 2nd right, poses for a picture after a visit at the Raymond Poincare hospital in Garches, outside Paris, France, Tuesday, April 25, 2017. Read More

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Flynn Warned About Accepting Foreign Government Payments in 2014: Documents

Mr. Chaffetz, amazingly, described the White House as "cooperative". "That's the next appropriate step". However, another DIA letter released by Cummings appeared to counter Flynn's team's defence. The letter was released on Thursday by Democrats in the House committee, Xinhua news agency reported . "After the president fired him for lying". Anybody who knew about the payments from Russian Federation, and who concealed it rather than taking an appropriate action should be fired. Read More

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North Korea again defies world with missile test

A USA military assessment found the main part of the missile landed approximately 35 kilometers (22 miles) from Pukchang airfield, a U.S. official told CNN . The launch came just hours after Secretary of State Rex Tillerson led a ministerial meeting of the United Nations Security Council Friday where he spoke about Pyongyang's advancing nuclear and missile programs. Read More

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Valeant Pharmaceuticals Open to Name Change, CEO Papa Says

Valeant Pharmaceuticals Open to Name Change, CEO Papa Says

Synovus Financial reported 5 shares or 0% of all its holdings. The stock was acquired at an average price of $10.80 per share, with a total value of $108,000.00. The Return on Equity ratio of Valeant Pharmaceuticals International, Inc. The firm's quarterly revenue was down 12.9% on a year-over-year basis. EPS growth for this year is -714.90% and EPS growth for next year is expected to reach at 18.58%. Read More

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FCC chief lays out strategy on undoing 'net neutrality' rules

FCC chief lays out strategy on undoing 'net neutrality' rules

The process Pai outlined is in contrast to the procedures typically followed by Wheeler who was known for handling much of the FCC's business in secret and only making the decisions public after the commission had voted on them. Mr Pai was first appointed to the FCC by former U.S. president Barack Obama and voted against the rules in 2015. Advocates and tech companies argue - as they did when pushing for these rules only a few years back - that without the oversight of FCC, internet ... Read More

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