Economy

U.S. employers add modest 138K jobs; rate dips to 4.3 percent

U.S. employers add modest 138K jobs; rate dips to 4.3 percent

The labor force participation rate ticked down to 62.7% from 62.9% the month prior while the jobless rate also declined to 4.3% from 4.4%. March and April data was revised to show 66,000 fewer jobs created than previously reported. "Through the volatility, we believe the trend in employment growth remains more than strong enough to keep unemployment trending down and the trend in wage gains upward", he said in a research note. Read More

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Bloomberg to Give $15M for US' Share of Paris Agreement

Bloomberg to Give $15M for US' Share of Paris Agreement

Scott Pruitt, the head of the Environmental Protection Agency who is a well-known climate skeptic, said on Fox News that "the president has indicated that the climate changes ". The executive secretary of the Framework Convention on Climate Change calls the money "crucial". Connecticut Gov. Dan Malloy and Virginia Gov. Terry McAuliffe also expressed interest in joining the new pact. Read More

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Amazon, now Alphabet with shares at $1000

Amazon, now Alphabet with shares at $1000

Alphabet's stock is surpassing the $1,000 mark for the first time, less than a week after Amazon reached the same milestone . The stock was sold at an average price of $849.50, for a total transaction of $3,398,000.00. On average, equities research analysts anticipate that Alphabet will post $33.95 EPS for the current fiscal year. The firm now has a $1,052.36 target price on the information services provider's stock. Read More

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Full cuts to Sunday penalty rates delayed until 2020

Full cuts to Sunday penalty rates delayed until 2020

The FWC announced that the reformed penalty rate conditions for full time and part time hospitality employees working on Sundays would be phased in over three years, starting from July 1. MILLIONS of low-paid workers are expected to win a pay rise today under a decision that will soften cuts to penalty rates. Conversely, the FWC said that reductions to the public holiday penalty would take place without further transitional arrangements on 1 July 2017, which will see the Retail Award public ... Read More

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CBI raids NDTV's Prannoy Roy's residence in Delhi

CBI raids NDTV's Prannoy Roy's residence in Delhi

In a heated exchange last Thursday, an NDTV moderator demanded that a spokesman of the ruling Bharatiya Janata Party ( BJP ) either apologise or leave their live debate after he accused the channel of pursuing an anti-government agenda. The CBI on Monday raided offices and home of NDTV founder Prannoy Roy over allegations of defrauding a bank . NDTV is one of the few liberal-leaning voices in a media landscape increasingly dominated by stridently nationalist and strongly opinionated ... Read More

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Arab nations cut ties with Qatar

Bahrain , Egypt, Saudi Arabia, the United Arab Emirates and Yemen made no demands of Qatar, but their decision plunged the nation's worldwide travel hub into chaos, igniting the biggest diplomatic crisis in the Gulf since the 1991 war against Iraq. Read More

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Oil Price Forecasts Lowered on Crude Glut

Oil Price Forecasts Lowered on Crude Glut

Energy Information Administration showed that commercial crude inventories fell by 6.4 million barrels in the week to May 26, compared with analyst expectations for a decrease of 2.5 million barrels. With Libya's increased output, OPEC's production reached the highest level since October 2014, giving energy traders jitters over the oil production agreement, analysts said. Read More

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Putin denies knowledge of Trump son-in-law back channel proposal

During the course of their conversation, Kelly covered the current USA justice department's investigation into Russian influence on the 2016 US presidential election. United States intelligence community officials have said they are certain that the hackers were in Russian Federation and that their instructions came from Putin , who sought to undermine Clinton and boost Donald Trump's chances of winning. Read More

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OPEC agrees to extend production cuts

OPEC agrees to extend production cuts

Earlier yesterday, Opec chose to extend cuts in oil output to March 2018, as the producer group battles a global glut of crude after seeing prices halve and revenues drop sharply in the past three years. Wood Mackenzie said that, if meetings Thursday result in agreements to a deeper cut in production, oil would move to just over $60 per barrel. Its production reduction of 1.2 million bpd was made based on October 2016 output of around 31 million bpd, excluding Nigeria and Libya. Read More

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Northwestern backs initiative on climate change

The leaders of Italy, France and Germany rejected Mr Trump's suggestion that the Paris Agreement be renegotiated. Secretary of State Rex Tillerson said on Friday that the USA had "a terrific record" of reducing our greenhouse gas emissions before the Paris agreement and that he doesn't think ongoing efforts in that area will stop now. Read More

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Egypt has not banned dealing in Qatari riyal, central bank says

Egypt has not banned dealing in Qatari riyal, central bank says

The UAE and Saudi Arabia stopped exports of white sugar to Qatar , a potential hit to consumers during the holy month of Ramadan, when demand is high. It also banned Saudi commercial and private air operators from serving Qatar . Qatar denies funding extremist groups. There would be no restrictions on exchanging the Qatari currency to Egyptian pounds or any foreign currencies, the bank said in a statement. Read More

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Australia central bank sticks to upbeat tune as economy underperforms

Australia central bank sticks to upbeat tune as economy underperforms

The Australian dollar has climbed on the announcement, rising to 74.85 USA cents by 2.38pm AEST, having earlier fallen to a low of 74.57 U.S. cents on weaker than expected national exports data. The Reserve Bank acknowledged that "conditions in the housing market vary considerably around the country", but said that rapid price growth in capital cities is showing signs of easing. Read More

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Virgin flight evacuated over note in loo

Virgin flight evacuated over note in loo

Passengers on a Virgin flight from Sydney to Albury have been evacuated via a window and a man has been arrested after a scare on the tarmac. Virgin Australia said that it was a passenger who said "get out and run, run, run" and rather than wait for the stairs, those on board jumped down to the tarmac. Read More

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LeBron James struggles to find any positives after another big defeat

Curry and Durant have been hailed as the best duo in the NBA but the Warriors guard said they were just trying to play good basketball. "You never know who will come up and show up for us". "You can talk like 15-0 or whatever he did, but the team was just falling apart at the seams, and so I just had to get back to make sure we righted the ship", Kerr said before turning serious. Read More

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Here's The Bold Way France Responded To Trump's Climate Deal Exit

Pakistan has been consistently listed as in the top ten nations that are already severely affected by climate change , and therefore has a close interest in developments regarding this global concern. "Deeply disappointed by USA decision, despite our efforts at G7". GE's CEO, Jeff Immelt, is on Trump's manufacturing council. The announcement drew sharp reactions from world leaders who criticized President Trump , while they affirmed their commitment to protecting the planet. Read More

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Trump officially declares travel restrictions as travel ban

Trump officially declares travel restrictions as travel ban

What is that going to do for our national security if something happens here on U.S. soil? His tweets contradict what White House staffers have maintained for months - that the executive order is not a ban. The ban temporarily restricts travel from a handful of Muslim-majority countries to the U.S., CNN reported . Trump begrudgingly scaled back the order by removing Iraq from the list and making the Syria refugee ban only temporary, but that order was blocked by the courts, too. Read More

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WH says Trump won't block Comey testimony

WH says Trump won't block Comey testimony

There had been speculation that Trump would use his executive privilege to block Comey's testimony, but the White House issued a statement on Monday saying this would not be the case. It is overshadowing other events in Washington, threatening to dampen already flagging momentum for Trump's legislative agenda of rolling back President Barack Obama's healthcare reforms and overhauling the tax code. Read More

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United States and Mexico sugar talks go into overtime after day of drama

United States and Mexico sugar talks go into overtime after day of drama

The Mexican sugar industry has said that if the US imposed duties on their sales, they would seek retaliatory barriers on American high-fructose corn syrup, which dominates the Mexican market. "The fact that an agreement could be reached on a sensitive topic like (sugar) bodes well for dealing with sensitive talks in NAFTA", he said. The powerful lobby also includes Imperial Sugar Co, owned by Louis Dreyfus Co, and U.S. Read More

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What's Unfolding For Shares of National Express Group PLC (LSE:NEX)

After $0.41 actual earnings per share reported by Owens & Minor, Inc. for the previous quarter, Wall Street now forecasts 4.88% EPS growth. Investors of record on Thursday, June 15th will be given a dividend of GBX 5 ($0.07) per share. Ameriprise Financial holds 0% of its portfolio in Aldermore Group PLC (LON:ALD) for 11,777 shares. It has underperformed by 16.70% the S&P500. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Read More

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One Love Manchester concert raises almost $3.5 million

It also came less than 24 hours after a terrorist attack in London left seven people dead and dozens injured. "We think it's fair to say Mr Bieber feels right at home here at the Storm Shelter!" Clapping, dancing, and singing along to her My Everything standout, the stars created a spectacular moment of unity in front of Manchester fans. Read More

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Australia chasing 183 victory target for win vs Australia

Australia chasing 183 victory target for win vs Australia

Nearly 12 years back on English soil, an unfamiliar Bangladesh toppled world champions Australia in one of the most memorable wins for the then Asiatic minnows. Leg-spinner Adam Zampa was also impressive on the day, conceding just 13 runs in four overs while bagging two wickets. But New Zealand opener Martin Guptill said the side would draw strength from their showing against Australia - the team that beat them in the 2015 World Cup final. Read More

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Rahm slams Trump on Paris pullout, joins pledge to meet climate goals

Here at the Monkey Cage, we've provided in-depth analysis over the years on the Paris accord, climate change, energy security and environmental developments. "I have not had an opportunity to have that discussion", White House spokesman Sean Spicer told reporters. "Today, on behalf of an unprecedented collection of USA cities, states, businesses and other organizations, I am communicating to the United Nations and the global community that American society remains committed to ... Read More

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Johnson extends track record with 11th win at Dover

Johnson extends track record with 11th win at Dover

Granted, he won the race under the rules, but several drivers, including Dale Earnhardt Jr., questioned whether the overtime line should remain in place. At a lot of the tracks we've gone to, it seems like this is the best Xfinity auto I've had this time around. "Probably the best of all time". He has won twice in his career at Dover with an average finish of 14.708 and a driver rating of 105.4. Read More

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Trump seeks quick Supreme Court review of 'travel ban'

Trump seeks quick Supreme Court review of 'travel ban'

Earlier this week, the Trump administration asked the Supreme Court to immediately reinstate its ban on travelers from six mostly Muslim countries and refugees from anywhere in the world. The case is presently before the supreme court. "It's kinda odd to have the defendant in Hawaii v Trump acting as our co-counsel". Those social media posts followed one on Sunday in which Trump declared the United States "must stop being politically correct" and do more to protecting its citizens, ... Read More

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Mickey Drexler out as CEO of J.Crew Group

Crew and owns 10% of the company. Apparel retailer J.Crew Group Inc said on Monday that James Brett will succeed retail veteran Millard Drexler as chief executive officer. Under his guidance, West Elm's annual sales increased from around $250 million to about $1 billion, according to financial sources cited by WWD . Read More

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