Economy

Not just a new president, new faces for France's parliament

Not just a new president, new faces for France's parliament

And there is also the risk of scandal if anyone with a chequered history slips through the vetting process of the more than 19,000 applications sent online since January. In the first-round ballot, far-left leader Jean-Luc Melenchon got almost 20 percent of the vote. After defying all odds and winning the presidency, Emmanuel Macron now faces just as hard a challenge in trying to govern the country. Read More

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White House dismisses questions over why it waited to fire Flynn

White House dismisses questions over why it waited to fire Flynn

Republican senators in the hearing repeatedly pressed Yates on an unrelated matter - her refusal to defend the Trump administration's travel ban - and whether she was responsible for leaking classified information. The specifics of the conversation - or conversations - that Flynn had with Russian Ambassador Sergey Lavrov have not been publicly disclosed. The Russians knew Flynn had lied to the vice president, Yates said, leaving him in a compromised position. Read More

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Banks levy to 'even the playing field'

These liabilities on the banks' balance sheets are generally not collateralised (unlike the loans they make to property buyers for example) which is an issue as the last GFC was commonly referred to as a "liquidity crisis" as many banks in Europe and the USA could not meet their obligations when depositors or other institutional lenders demanded their loans back. Read More

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Oil steady as USA stockpiles dropping again

USA crude oil production C-OUT-T-EIA has already risen by over 10 percent since its mid-2016 trough, to more than 9.3 million bpd, close to levels of top producers Russian Federation and Saudi Arabia. "Growing oil output in the USA, which reached its highest level since August 2015, will remain a thorny issue for price bulls", said Abhishek Kumar, senior energy analyst at Interfax Energy's Global Gas Analytics in London. Read More

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We may not see oil at $100 again

We may not see oil at $100 again

OPEC crude oil production decreased by 18,000 bpd, from the previous month to average 31.73 million bpd in April, sources said. Non-cartel producers led by Russian Federation partially matched the cuts. Oil prices pared gains on Thursday after the release of the report to trade at less than $51 a barrel, below the $60 level that top OPEC producer Saudi Arabia would like to see. Read More

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Brian Molefe gets his old job back at Eskom

Brian Molefe gets his old job back at Eskom

Eskom chairperson Ben Ngubane said on Thursday that the utility had reinstated Molefe's contract of employment, which ends in September 2020. BRIAN Molefe is to return as CEO of South African power utility, Eskom, barely four months are stepping down amid controversy he assisted the Gupta family company, Tegeta Exploration with the purchase of Optimum Coal mine. Read More

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Snap reports $2.2bn loss in Q1, slams Facebook

Its daily active users (DAU) increased 36% from 122 million t0 166 million year-over-year. That was two million fewer than expected, but 36% higher than the same period past year. The company said its average revenue per user fell 14% from the prior quarter to 90 cents, on average. He said that improvements to the performance of the Android app led Snapchat to double the amount of net additional Android devices on the network, and Android accounted for 30 percent of net additional users in ... Read More

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Snap Inc. Misses On Revenue In Q1

With regards to user growth , Snap reported 166 million daily active users for its social media app for Q1 2017. That user base still lags behind the 200 million users sending along pictures and videos through Instagram Stories - the primary competitor to Snapchat. Read More

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US, China reach deals on access for beef, financial services

US, China reach deals on access for beef, financial services

US Commerce Secretary Wilbur Ross said the deal should reduce China's trade surplus with the US by the end of 2017. As progress is made implementing the 100 day plan, the two countries will begin to work on a one-year plan to further solidify actions to promote US-China economic engagement and dialogue, Ross added, and will begin deeper engagement on these issues at the first meeting of the Comprehensive Economic Dialogue which will be held in the United States this summer. Read More

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The US economy maybe slowing down

The Federal Reserve opted to keep interest rates steady on Wednesday, while giving signals more rate rises are coming. As of 1938 GMT, the yield on the benchmark 10-year US Treasury note was up by three basis points to 2.31%, alongside a 0.25% dip in the S&P 500 to 2,385.37. Read More

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BT's Gavin Patterson loses bonus following 'irregularities' in Italian division

BT's Gavin Patterson loses bonus following 'irregularities' in Italian division

Financially it has been a challenging year for BT, in addition to the Italian business write-down, it has faced regulatory costs for the year of £479m, including the Ethernet issues. In addition to the BT results for the last financial year, the company also announced that Openreach was launching a consultation with BT's competitors on how best to enhance broadband connectivity across Britain. Read More

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Maxim Group Increases Apple Inc. (AAPL) Price Target to $171.00

But Apple is searching for ways to do more, Cook said. Apple's senior vice president of worldwide marketing Phil Schiller was in India opening a developer centre last quarter. The California firm, which is due to release a new phone later this year, said it sold 50.8 million iPhones in the period, down 1% year-on-year. Revenue climbed 5% annually to $52.9 billion, but missed expectations for $53.04 billion. Read More

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Withdrawals through these ATMs are chargeable, clarifies SBI - Find details

Withdrawals through these ATMs are chargeable, clarifies SBI - Find details

For cash deposit of up to Rs 1,000 into its mobile wallet through business correspondents, the Bank will levy a service charge of 0.25 per cent (minimum Rs 2 and maximum Rs 8) plus service tax. India's largest bank, State Bank of India, denied reports that it had scrapped the facility of providing free ATM transactions. Till now, this service charge was levied on a quarterly basis. Read More

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UK Labour's election manifesto and Brexit plan leaked

For the Liberal Democrats, Tom Brake said: "This manifesto became meaningless the day Jeremy Corbyn ordered his MPs to vote with the Conservatives and UKIP to give Theresa May a blank cheque on Brexit". Jeremy Corbyn, the leader of Britain's opposition Labour Party, speaks to journalists after their election manifesto was leaked to several newspapers. Read More

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White House advisers postpone Paris climate deal meeting

The debate between Trump's aides has turned from whether climate change is real to discussions on how the administration plans to position itself at the worldwide negotiating table on global warming. But the gathering risks being hamstrung over fears that the U.S., the world's number two carbon polluter, will pull out and throw the agreement into disarray. Read More

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Trump to launch panel to investigate voter fraud

The commission will be led by Vice President Mike Pence and Kansas Republican Secretary of State Kris Kobach. She said the report would be complete by 2018. "This misbegotten Commission sadly is yet another malicious effort to undermine the voting rights of millions of Americans across the country". Senate Democratic Whip Dick Durbin alleged that the formation of the commission is an attempt to divert the attention in the aftermath of the firing of the FBI Director James Comey. Read More

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Foreign property investors hit hard in Australian budget

An inland rail linking Melbourne and Brisbane will get an $8.4 billion, with the project set to begin in the next financial year. The government takes on the banks at their peril. New taxes, including the levy on the big five banks, and a lift in the medicare levy , will raise nearly $21 billion of new tax revenue over the next four years, and help give the Turnbull government a modest surplus by 2021. Read More

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Key midfielder set for Everton return ahead of Premier League run

David Luiz has been a mainstay of the Blues' line-up since re-joining the club from Paris Saint-Germain in the close-season and his impressive performance for the Premier League leaders saw him named in the PFA Team of the Year. "I started to work at Chelsea only nine months ago and to see this passion, this type of relationship with the fans.is great for me, great for the players and the club". Read More

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I might release tax returns - when I'm out of office

I might release tax returns - when I'm out of office

When asked about House Republicans' "border-adjustment" proposal to tax imports and exempt exports, Trump replied, "We are dealing with Congress...because it's not really what I'm considering". "It would be disrespectful of the importance of this deal", Trump said. Last October, The New York Times published part of his 1995 state tax returns from multiple states that showed he declared a $916 million loss that year. Read More

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ICE arrests 1378 over six weeks in targeting gangs

ICE arrests 1378 over six weeks in targeting gangs

According to a ICE news release, Most of the arrests were in Arizona, with 55 people detained. Ten people arrested during this operation crossed the border as unaccompanied minors and nine of them were confirmed as gang members. ICE says 384 foreigners who were arrested were living in the USA illegally and 61 had permission to be here. The Sureños and MS-13 originated in Southern California. Read More

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The war with Canada: Day 2

The war with Canada: Day 2

After targeting Canadian lumber Monday, the USA president threatened retaliation over pricing policies he said cut many United States dairy farmers out of the Canadian market. The state timber industry says the new tariffs, which average 20 percent , are good news for Wisconsin loggers and sawmills that have been struggling since the new housing market crashed in 2008. Read More

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Spirit Airlines wins restraining order to stop pilot union's work slowdowns

Spirit Airlines wins restraining order to stop pilot union's work slowdowns

On Monday, the airline cancelled numerous flights at Fort Lauderdale-Hollywood International Airport due to a shortage of pilots, which led to a fight among customers and the subsequent arrest of three individuals. "I'm so frustrated I want to use the F-bomb right now, and I don't usually say that", said Carol Schwemin, 62, who with her husband endured an odyssey to Cuba that began on April 28 in Chicago. Read More

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Passengers brawl in airport terminal after United States airline cancels flights

On Monday, fights broke out between airline staff and angry passengers - and led to three arrests for inciting a riot, resisting arrest, trespassing and disorderly conduct. "We are shocked and saddened to see the videos of what took place at Ft". It's just the latest incident in a series of black eyes for the airline industry - including so many recorded confrontations that even Congress got involved last week. Read More

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