Money

Dow rises 250 points on strong earnings

Dow rises 250 points on strong earnings

The index first touched the 5,000 mark on March 2000 as tech stocks bubbled before tumbling almost 80 percent through October 2002.The Dow Jones Industrial Average.DJI rose 252.45 points, or 1.22 percent, to 21,016.34, the S&P 500 .SPX gained 17.05 points, or 0.72 percent, to 2,391.2 and the Nasdaq Composite.IXIC added 48.85 points, or 0.82 percent, to 6,032.67.The Russell 2000 also hit a record high. Read More

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Oil prices remain level on OPEC's assurance to rebalance crude market

Data released Wednesday by the Energy Information Administration (EIA) showed that US commercial crude inventories decreased by one million barrels from one week ago, falling to 532.3 million. "It seems that the optimism in the oil market we have seen since the last few days of March is running out of steam", wrote Tamas Varga, PVM Oil Associates analyst, noting concerns about the "ever-increasing rise" in USA shale output. Read More

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Oil dips, on course for biggest weekly drop in a month

Oil dips, on course for biggest weekly drop in a month

U.S. West Texas Intermediate (WTI) crude oil futures CLc1 lost 46 cents to reach $49.16 a barrel, after reaching a high of $50.22 a barrel earlier in the day. The Russian Energy Ministry is discussing with Russian companies, as well as with executive bodies, the possibility of extending the Vienna agreement on oil production cuts, Energy Minister Alexander Novak said Friday. Read More

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United Airlines debacle: Was a 'random' computer search really to blame?

United Airlines debacle: Was a 'random' computer search really to blame?

Dr. David Dao's lawyers filed an emergency request with an IL state court on Wednesday which requires the carrier to preserve video recordings and other evidence related to Dao's rough treatment. United was trying to find seats for four employees, meaning four passengers had to deplane. Asked whether Dao was at fault, he said: "No". "No one should ever be mistreated this way". Read More

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United CEO got $18.7 million in compensation

David Dao from a Louisville-bound flight. Munoz said this week that Dao's treatment was "humbling" for United and accepted full responsibility. Demetrio said that both incidents show "why we need more fairness and dignity". The woman, who has not been identified, was flying to Dallas from San Francisco with her two young children on Friday when the incident occurred. "This is a real, real problem and the mother told me point blank her concern was her child, who nearly got hit by the ... Read More

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International Monetary Fund keeps robust GDP forecast for PH

International Monetary Fund keeps robust GDP forecast for PH

The IMF said that it expects real GDP growth for the seven oil-exporting countries in the Middle East of 1.9 per cent this year, which is a full percentage point lower than the 2.9 per cent growth it forecast for the group last October. "If confidence and market sentiment remain strong, short-term growth could indeed surprise on the upside". In its 2017 World Economic Outlook , the International Monetary Fund set its forecast for Southeast Asia's largest economy at 5.1 percent, unchanged ... Read More

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Credit Suisse Group AG (CS) Shares Sold by Auxier Asset Management

Credit Suisse Group AG (CS) Shares Sold by Auxier Asset Management

The 52 week high shares of Under Armour have reached is 47.94 whilst the 52 week low for the company's shares is 18.4. Stonehill Capital Management LLC purchased a new stake in Under Armour during the fourth quarter worth about $2,240,000. Zacks Investment Research upgraded Credit Suisse Group AG from a "sell" rating to a "hold" rating in a report on Monday, December 26th. Renaissance Technologies LLC now owns 4,022,688 shares of the financial services provider's stock valued at $57,565,000 ... Read More

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BHP cuts FY copper production guidance

BHP cuts FY copper production guidance

Analysts at Jefferies Group cut their FY2018 earnings per share (EPS) estimates for shares of BHP Billiton Limited in a research note issued on Friday. BHP Billiton plc (LON:BLT) has risen 10.61% since September 23, 2016 and is uptrending. This is a positive change from BHP Billiton plc's previous semiannual dividend of $0.28. Read More

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Lawsuit filed against Fox alleges racial discrimination

Lawsuit filed against Fox alleges racial discrimination

A representative for Fox News did not immediately respond to a request for comment. She said "all claims of racial discrimination against Ms. Slater are completely false". According to the complaint, Rahman mistakenly entered Ailes's office on the second floor. Tuesday's filings represent a continuation of what has been a nightmarish month for Fox News and its parent company, 21st Century Fox. Read More

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United Airlines changes crew booking policy after passenger dragged off plane

NPR reported that United updated its policy "to make sure crews traveling on our aircraft are booked at least 60 minutes prior to departure". "This [policy change] ensures situations like flight 3411 never happen again". The dragging has turned into a public-relations nightmare for the entire industry, not just United, and led to calls from politicians and consumer advocates to suspend or ban overbooking. Read More

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A budget deficit challenge for Trump's tax plan

A budget deficit challenge for Trump's tax plan

President Trump wants his administration to draft a tax plan that would cut the corporate tax rate to 15 percent, The Wall Street Journal reported Monday. They have no idea what they are doing. The President said that he will also open up lending to small businesses. Republicans are pushing to pass tax-reform legislation under budget reconciliation to avoid a filibuster in the Senate. Read More

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Trump's 'big announcement' on tax to be broad principles

Trump's third executive order will "identify and reduce tax regulatory burdens", and it is about "financial stability", Trump said. But on Sunday, Mick Mulvaney, director of the Office of Management and Budget, appeared to cast doubt on Mnuchin's statements, saying the White House has not decided whether to pursue a long-term or short-term tax overhaul. Read More

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Turkey's election board rejects appeals to annul referendum

Turkey's election board rejects appeals to annul referendum

The main opposition Republican People's Party (CHP) and the pro-Kurdish Peoples' Democratic Party (HDP) had on Tuesday requested the poll be scrapped due to alleged violations. The board, however, published past rulings on the validity of unstamped ballots. The opposition has complained about an unlevel playing field before the referendum and irregularities during the vote, claims echoed by election monitors from the Organization for Security and Cooperation in Europe (OSCE) and by the ... Read More

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US, Japan, S. Korea Envoys Discuss N. Korea

US, Japan, S. Korea Envoys Discuss N. Korea

The report , citing an unidentified government source, said the live-fire exercise was possibly supervised by North Korean leader Kim Jong Un . South Korea's defense ministry said some elements of the Terminal High Altitude Area Defense (THAAD) system were moved to the site on what had been a golf course in the county of Seongju in the country's southern region. Read More

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Oil prices mixed in choppy trade, rising U.S. production weighs

June WTI, the new front-month, was changing hands around $50.74, 3 cents higher than its previous day's close. In January and February, the nation's exports to Europe climbed nearly fivefold to 178,000 barrels a day, the most recent U.S. OPEC and Russian Federation will meet in late May to decide whether to extend the cutbacks until the end of this year. OPEC sources said an internal assessment was that if they failed to extend the agreement, oil could slide back to $30-$40 a barrel. Read More

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Asia tracks French election rally; weak yen lifts Tokyo

Asia tracks French election rally; weak yen lifts Tokyo

South Korea's Kospi added 1.1 percent to 2,196.85 and the Shanghai Composite index rose 0.2 percent at 3,134.57. CHINA BLUES: Chinese stocks didn't join the global wave higher on Monday. The pan-European STOXX 50 index soared 4 percent, its best day in almost two years. The two-year spread was its narrowest since late January. On Wall Street, all three major indexes jumped more than 1 percent, with the Nasdaq closing at a record high. Read More

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United will not use police to remove overbooked passengers

United will not use police to remove overbooked passengers

Sara Nelson, worldwide president of the flight attendants union representing United, said the incident was the most severe customer backlash she'd seen in 20 years on the job and was "completely unacceptable". "You'll have to drag me", he said. "I'm staying right here". A man on a United Airlines flight refused Sunday to give up the seat he purchased for a flight from Chicago to St. Read More

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Gasparino: Obama To Receive $400000 Fee For Cantor-Fitzgerald Wall Street Speech

Gasparino: Obama To Receive $400000 Fee For Cantor-Fitzgerald Wall Street Speech

Former President Barack Obama's decision to accept a $400,000 fee to speak at forum hosted by Wall Street bond firm is no surprise, Larry Klayman, founder of government watchdog Freedom Watch, told Newsmax TV. The New York Post says Mr Obama's speech makes him "Wall Street's newest fat cat", while Fox News said it made him a hypocrite and Vox claimed it "undermined" what he claimed to stand for as President. Read More

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Paul George struggles with his shot as Pacers get swept

Postseason specialist and four-time MVP LeBron James led the Cavaliers to a 106-102 win against the Pacers in Sunday's game four. Now, right before his eyes, George has seen his Indiana Pacers go from being a team that challenges James for a right to play in the NBA Finals to one vainly hoping to avoid being swept by him in the first round. Read More

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Treasury's Mnuchin: Trump to order reviews of financial rules

Hoping to improve economic growth, the Trump administration embarked Friday on new efforts to study and possibly dismantle some of the tax and financial regulations established by former President Barack Obama. "They have no idea what they're doing". Trump also promised his tax overhaul would be "revenue-neutral", meaning the cuts would be offset by the elimination of other tax breaks to keep from increasing the budget deficit. Read More

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Saudi February crude oil exports drop to 21-month low

On Wednesday, crude prices tumbled more than 3.5 percent as USA government data showed domestic crude stocks fell less than expected in the latest week and gasoline stocks posted a surprising 1.5-million-barrel build. Oil prices were little changed on Thursday in a seesaw trading session, as investors weighed rising USA production against comments from leading Gulf oil producers that an extension to OPEC-led supply cuts was likely. Read More

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French election: Le Pen and Macron hold rival rallies

Le Pen would not win the presidency whoever she faced in the run-off, polls indicate. The top two candidates will go up against each other in a run-off election May 7. Another FN official, Jean Messiha, said he saw a couple of Molotov cocktails being thrown. Communist-backed Jean-Luc Melenchon, who sailed through the center of the capital on a barge on Monday, will be addressing rallies in at least seven cities on Tuesday, using holograms for six of them. Read More

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Cavaliers getting the better version of Deron Williams in playoffs

Irving added 28 points and Williams had 14, and now the Cavaliers have a full week off before they play either the Milwaukee Bucks or Toronto Raptors in the Eastern Conference finals starting May 1 in Cleveland. Cleveland is now 12-0 in first round series. Cleveland saw a player who was a step slow after missing time in Dallas with an injury before joining the Cavs, and one who struggled defensively - which made him hard to pair with Kyrie Irving . Read More

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Why has Trump Imposed Timber Tariffs on Canada?

But while the loonie sunk on the news, shares of Canadian lumber exporters actually rallied as some investors had expected an even larger tariff. Canadian firms immediately denounced the decision . American lumber companies were pleased with the decision. Canada has consistently denied it subsidizes its lumber companies. "It simply seems unfair because in the United States, most of the forests are privately owned and therefore they pay full market rate for the stumpage". Read More

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