Economy

Oil prices rise as market awaits extended output cut

US oil production C-OUT-T-EIA has already risen by more than 10 percent since mid-2016 to over 9.3 million bpd as its drillers take advantage of higher prices and the supply gap left by OPEC and its allies. "There was no country that said "we oppose nine months", Algerian Energy Minister Noureddine Boutarfa told Reuters . With prices above $50 from lows of past year, they are increasingly moving back into the market. Read More

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OPEC moves towards 9-month output cut extension

The extension to March prolongs a rare period of collaboration between the Organization of Petroleum Exporting Countries and some of its biggest rivals. Despite the output cut, OPEC kept exports fairly stable in the first half of 2017 as its members sold oil from stocks. United States production has risen 850,000 bpd from its 2016 lows to 9.3 million bpd now, not far from the all-time record set in 2015. Read More

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De Blasio vows to punish parking placard abusers

De Blasio vows to punish parking placard abusers

Placards will be non-transferrable under any circumstance. Comprehensive data on placard use wasn't. DOE placards will only be allowed for department parking spots during school hours, at the schools where teachers and employees work. Abusers will not only be fined or towed, but subject to "permanent ineligibility". Lay The Groundwork for Long-Term Technological Solutions . Placard abuse and fraud have been problems for a long time, most recently documented by the anonymous @placardabuse ... Read More

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Cello Group plc (CLL) Rating Reiterated by N+1 Singer

It has outperformed by 1.37% the S&P500. Among 16 analysts covering SIG PLC ( LON:SHI ), 4 have Buy rating, 1 Sell and 11 Hold. Therefore 58% are positive. Investors sentiment decreased to 0.86 in Q4 2016. Its up 0.01, from 1.18 in 2016Q3. 25 funds opened positions while 63 raised stakes. Principal Financial Group holds 0.01% or 444,305 shares in its portfolio. Read More

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OPEC meets to extend oil cuts for up to one year

The Organization of Petroleum Exporting Countries (OPEC) decided on Thursday at a meeting in Vienna to extend cuts in oil output by nine months to March 2018, an OPEC delegate said. OPEC's cuts have helped push oil back above $50 per barrel this year. Wood Mackenzie's forecast followed speculation Tuesday from Kuwaiti Oil Minister Essam al-Marzouq, who said "all options are on the table" to balance the market, but a "remarkable leap in prices" was not expected for the rest of 2017. Read More

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Taiwan becomes 1st in Asia to recognize same-sex marriage

Taiwan becomes 1st in Asia to recognize same-sex marriage

On Wednesday, Taiwan's Constitutional Court ruled that the part of the Taiwanese Civil Code banning two people of the same sex from marrying violates the constitution. The Taiwan ruling's influence extends across Asia, though. "The ruling proves that same-sex marriage is acceptable in Chinese culture, and is likely for the Chinese mainland to legalize gay marriage within a decade", Li Yinhe , a sociologist at the Chinese Academy of Social Sciences, told the Global Times newspaper. Read More

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Fed minutes: Officials back reducing bond holdings this year

The markets in Indonesia are closed on Thursday for the Ascension Day holiday. Hard drive maker Western Digital added $1.67, or 1.9 percent, to $89.70 and chipmaker Nvidia rose $1.54, or 1.1 percent, to $138.57. Praxair picked up $2.20, or 1.7 percent, to $132.17. USA economic growth slowed sharply in the first quarter, and the wider group of 16 policymakers at this month's meeting discussed at length why that had happened and why a measure of underlying price gains also fell further below ... Read More

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Oil languishes after OPEC fails to deepen supply cuts, Asia stocks retreat

Japan's Nikkei .N225 also slipped 0.2 percent, on track for a 1 percent increase for the week. As of 12:18 BST, the United Kingdom benchmark index had added 3.18 points to stand 0.08 percent higher at 7,511.72. Taiwan's benchmark fell and indexes in Southeast Asia were mostly higher. The plan would see OPEC and other major producers, including Russian Federation, continue their deal to remove 1.8 million barrels a day from the market until March 2018. Read More

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Bellway plc's (BWY) "Hold" Rating Reiterated at Deutsche Bank AG

JP Morgan has "Neutral" rating and $16 target. The firm earned "Add" rating on Thursday, April 27 by Stockdale Securities. JP Morgan maintained the shares of EZJ in report on Wednesday, May 11 with "Overweight" rating. Cibc World holds 1.02 million shares. Oakbrook Invs Llc invested 0.98% of its portfolio in Johnson & Johnson (NYSE:JNJ). Kanaly Tru has invested 0.01% in Aetna Inc (NYSE:AET). Read More

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IP Group Plc (IPO) Upgraded by Jefferies Group LLC to "Buy"

It has underperformed by 22.30% the S&P500. The broker has just set a PT of GBX 500.00 on Marks & Spencer Group (LON:MKS) shares. They now have a GBX 1150.00 target on Land Securities Group (LON:LAND). The firm has "Add" rating by Numis Securities given on Thursday, July 21. Jefferies maintained the stock with "Hold" rating in Wednesday, August 10 report. Read More

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Unidentified object flies over North Korean border

Unidentified object flies over North Korean border

The launch verified the reliability and accuracy of the solid-fuel engine's operation and stage separation and the late-stage guidance of the nuclear warhead which was recorded by a device mounted on the warhead, KCNA said . It's not the first time South Korea has reacted to an object sent across its border. He told reporters on Monday that France hopes the council will move ahead on a strong resolution that demands better implementation of existing sanctions and tougher new sanctions ... Read More

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Participants of Vienna meeting to discuss extension of OPEC deal

The member countries of the Organisation of Petroleum Exporting Countries will have to execute a delicate balancing act when they meet in Vienna on Thursday. Why didn't the first round of cuts do the trick? Having cleared this week's United States data, the focus now shifts to the outcome of the Opec meeting tomorrow, said Abhishek Kumar , senior energy analyst at Interfax Energy's Global Gas Analytics in London . Read More

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SoftBank Reportedly Amasses $4 Billion Stake in NVIDIA

SoftBank Reportedly Amasses $4 Billion Stake in NVIDIA

Savant Capital LLC now owns 2,270 shares of the computer hardware maker's stock worth $247,000 after buying an additional 60 shares during the period. This represents a $0.56 annualized dividend and a yield of 0.40%. NVIDIA's payout ratio is presently 21.96%. The legal version of this article can be viewed at https://www.themarketsdaily.com/2017/05/24/mn-services-vermogensbeheer-b-v-acquires-632-shares-of-nvidia-co-nvda-updated.html. Read More

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Boeing Awarded Contract to Design US Plane Capable of Space Flight - Pentagon

Boeing Awarded Contract to Design US Plane Capable of Space Flight - Pentagon

Ultimately, DARPA envisions from the XS-1 a fully reusable unmanned vehicle, the size of a business jet, which would take off vertically like a rocket and fly to hypersonic speeds. In Phase 1 of the XS-1 program, prime contracts were awarded to three companies to pitch concepts, working with commercial launch providers: Boeing with Blue Origin , Masten Space Systems with XCOR Aerospace, and Northrop Grumman with Virgin Galactic. Read More

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China stocks fall after rating cut, other Asian markets gain

As noted by The Wall Street Journal , this latest downgrade will likely increase the cost of borrowing for Chinese firms, with the revision of China's rating likely to have a knock-on effect on the country's banks. "The topping out of apartment construction is an important element of the outlook for growth and interest rates as it has been a key driver of employment growth in the economy to date", he said. Read More

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Oil prices rise as market expects extended production cut

Saudi Arabia and Russian Federation, the biggest of the producers, agreed last week that it should be rolled over for nine months, an idea backed by Iraq's oil minister on Monday. However, later in the session, in a press conference, Luaibi said he agree it was necessary to carry over the deal for another nine months. West Texas Intermediate finished up 34 cents at $51.47 United States a barrel. Read More

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Jack Daniel's owner Brown-Forman says it is not for sale

Their 52-Week High and Low are as follows: -9.19% (High), 24.02%, (Low). With the firm's stock price now trading around $54.22, the firm has proven a solid track record of growth over the past few years. for 13.16 million shares. The hedge fund held 755,286 shares of the company at the end of 2016Q4, valued at $33.93 million, up from 151,566 at the end of the previous reported quarter. Read More

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RBS case faces fresh delay as settlement talks drag on

RBS case faces fresh delay as settlement talks drag on

A trial over the matter had been due to start Monday, but has been adjourned for the past two days as lawyers said the two sides were optimistic they could strike a settlement. "The present position is that the majority of claimants have indicated their willingness to accept the latest offer from the defendant", Jonathan Nash QC, for the claimants, told the judge, according to the BBC . Read More

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Duterte declares martial law in southern Philippines

Presidential spokesman Ernesto Abella told reporters that martial rule had taken effect "on the grounds of existence of rebellion". Duterte , 72, known internationally for waging a war on drugs that has claimed thousands of lives, had said on many occasions since becoming president previous year that he was prepared to declare martial law nationally as well as in Mindanao. Read More

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Melania Trump Had A Pretty Awkward Moment With The Pope

They sat down at a wooden desk. Tillerson later told reporters that climate change did not come up in the meeting with the pope , but that US officials had "a good exchange on the climate change issue" with Cardinal Parolin. "He is something", Trump said . The president wants to strengthen America's borders by building a wall with Mexico; Francis has made helpless, homeless migrants his priority, and says anyone who erects barriers between people can not be a Christian. Read More

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Former FBI chief James Comey to testify in Russian probe

Former FBI chief James Comey to testify in Russian probe

Earlier in the week, reports emerged that Mr. Trump divulged sensitive information to Russian diplomats and told Comey to drop the FBI investigation into ousted national security adviser Michael Flynn. Sheldon Whitehouse said Friday that Deputy Attorney General Rod Rosenstein's memo could be part of the criminal investigation into the Trump campaign's possible collusion with the Russian government. Read More

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AHCA CBO score makes GOP rush to repeal Obamacare laughable

AHCA CBO score makes GOP rush to repeal Obamacare laughable

A group of 13 Republican senators led by Senate Majority Leader Mitch McConnell are expected to draft their own version of the health-care bill in the coming months. The original GOP House health care bill saved $150 billion. As Trump and Republican leaders sought to bring wavering lawmakers on board with the House bill, they added a controversial last-minute amendment that would give states leeway to drop an Obamacare requirement that forces insurers to charge sick and healthy ... Read More

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President Trump calls for unity against terrorism

President Trump calls for unity against terrorism

He wrote in June past year: "Saudi Arabia and numerous countries that gave vast amounts of money to the Clinton Foundation want women as slaves and to kill gays". Iran is a Shi'ite Muslim country. Trump said the United States will ensure that its "Saudi friends" get a good deal from "our great American defense companies, the greatest anywhere in the world". Read More

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House Dems ask Deutsche Bank for info on Trump accounts

House Dems ask Deutsche Bank for info on Trump accounts

The Committee members stressed in the letter that the information from the bank would be critical for the panel's probe into Trump's reported ties with Russian Federation. A spokeswoman for Deutsche Bank declined to comment on the matter. They also said the bank should state publicly that it had reviewed both the "mirror trading" scheme and Trump's accounts. Read More

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Solar industry drives renewable energy job growth worldwide

Solar industry drives renewable energy job growth worldwide

The group released this year's report and that number has climbed to 9.8 million employed as of 2016. Meanwhile, 62% of clean-energy jobs are located in Asia. An employment-factor based calculation, the report said , suggests that direct and indirect employment in solid biomass might be close to 80,000, and the construction and operations of biogas plants may have supported around 7,000 jobs past year. Read More

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