Economy

OPEC members mainly complying with output-cut deal

OPEC members mainly complying with output-cut deal

Meanwhile, with much of the market expecting higher United States production, the EIA said tight oil production stateside will increase to more than 6 million bpd in the coming decade, making up most of total American oil production. Later, non-OPEC countries agreed to cut the output by 558,000 barrels per day during the meeting held December 10, 2016. Analysts were concerned the production cuts won't be enough to prop up crude prices as production continues churning in the US. Read More

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Consumer prices post largest gain in almost four years

ONS head of inflation Mike Prestwood said the rise in CPI was triggered by rising petrol and diesel prices and a "significant slowdown in the fall in food prices". The Bank of England has forecast that inflation could hit nearly three per cent later this year and added there is limited tolerance recently for the measure to be above target. Read More

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Verizon And Yahoo Set To Revise Deal With $300 Million Haircut

The deal also ensures that the leftovers of Yahoo's operations from the deal will be renamed Altaba Inc. and the combined company will have to deal with the legal responsibilities linked to the breaches. Though the deal was tentatively said to be reached during the first quarter of 2017, it will be delayed to the second quarter. Yahoo shares rose 1.7% to $45.78. Read More

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The Senate Really Wants Janet Yellen to Talk about Donald Trump

The Senate Really Wants Janet Yellen to Talk about Donald Trump

Interestingly, Yellen made a clear rebuttal of the notion of tying monetary policy to a "rule" per se, noting the USA economy would be "much weaker" if central bank had followed Taylor Rule (which would call for rates of 3.5%-4%). Yellen's semi-annual monetary policy report before the Senate Banking Committee is the first since Donald Trump became president. In Chicago Fed chief Charles Evans, typically a "dove" who prefers to keep rates to spur growth, said he officially predicted two rate ... Read More

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Credit Suisse swings to loss over litigation costs

Credit Suisse said the benefits of restructuring its sales and trading business are beginning to emerge as it posted soaring revenues from credit during the final months of 2016. While the settlement resolved a major source of legal uncertainty for the bank, it put a dent in its capital buffers. But it slashed overall headcount - including "contingent workers" like information technology specialists - by 7,200 a year ago. Read More

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Janet Yellen Faces 2 Tasks Before Congress

Janet Yellen Faces 2 Tasks Before Congress

Indeed, while Yellen declined to specify how fiscal policies will impact the pace at which the Fed will remove its monetary policy accommodation, waiting too long would be "unwise" and could potentially force the FOMC to raise rates too quickly, disrupting financial markets, and raising the risk of a USA recession. Read More

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De Blasio Touts Highest High School Graduation Rate In City History

De Blasio Touts Highest High School Graduation Rate In City History

The city's rate was just under 73 percent; just 15 years ago, only 51 percent of students in New York City graduated from high school. State data shows that more than half are considered economically disadvantaged. "We're graduating more students than ever before, and we are on track to reach our Equity and Excellence for All goal of 80 percent of students graduating on time". Read More

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Nokia to acquire Comptel for Euro 347 million

Nokia to acquire Comptel for Euro 347 million

Comptel, which had sales of about 100 million euros in 2016, said its board of directors, and shareholders that hold about 48 percent of the shares backed the offer. It intends to combine its Service Assurance portfolio with the company's Service Orchestration Portfolio, which it believes will "enable a dynamic closed loop between service assurance and fulfillment that simplifies management of complex heterogenous networks". Read More

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Ford Motor Company (F) Rating Increased to Overweight at Barclays PLC

That pre-tax total is up 15 percent from 2015, and net earnings are $9.4 billion. Several other institutional investors have also added to or reduced their stakes in the stock. The 23 stock analysts following this company have an average price target at $38.45, with individual PT in the $29.00-$50.00 range. Of course, General Motors has also been under pressure from President Donald Trump, who has targeted the company for its foreign manufacturing processes. Read More

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Grateful to Planned Parenthood

Rose said, " Planned Parenthood finds itself in the impossible position of saying that it does just enough prenatal care to merit hundreds of millions of dollars from the government, but not enough to be criticized for failing to provide it when a pregnant woman seeks prenatal care at its centers". Read More

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Noticeable Earnings: Twenty-First Century Fox Inc (NASDAQ:FOXA)

FBR & Co. gave shares of Twenty-First Century Fox Inc a price target of 34 indicating a potential increase of 9.47% from Twenty-First Century Fox Inc's current price of 31.06. Late Monday afternoon, Twenty-First Century Fox posted a profit for the quarter that beat expectations of analysts as its cable and television units were helped from televising the World Series and its channel for cable news enjoyed good ratings during the presidential campaign in the U.S. Read More

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Macron offers refuge in France to USA scientists, entrepreneurs

In 144 " commitments " published on Saturday, Le Pen says she will drastically curb migration, expel all illegal migrants and restrict certain rights now available to all residents, including free education, to French citizens. One of Fillon's strengths was that he was able to appeal both to traditional conservatives with his fiscal and social policies, while also eating into Le Pen's hardline stance on immigration - he even wrote a book called "Conquering Islamic Totalitarianism". Read More

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Tribunal refuses to stay EGM of Tata Sons

Mistry fought a hard shareholder battle to remain the chairman of some listed Tata companies but resigned from all boards after shareholders voted him out of TCS. Two investment firms backed by the Mistry family has moved the NCLAT through their law firm "Jaitley and Bakshi". Tata Sons' Board ousted Mistry earlier on October 24, 2016, as its Chairman and appointed Ratan Tata as Interim Chairman. Read More

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Hudson's Bay Co. reported to be in bid for Macy's

Hudson's Bay also had a market capitalization of $1.41 billion late Friday morning, compared to $10.64 billion for Macy's . Macy's also has a significant amount of debt about $7.5 billion, according to the Journal report. Takeover talks are still in the early stage, said the Wall Street Journal, citing sources familiar with the matter. Founded in 1670, Hudson's Bay began as a fur trading business and once owned more than 40 percent of what is now Canada. Read More

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Construction sector loses momentum in January

The subdued growth in business activity translated into slower new orders growth, which expanded at the slowest pace since October past year. A rate below 50 indicates a slowdown in economic activity. The data comes after numbers out on Wednesday showed that Britain's manufacturing industry was hit by a double whammy of rising commodity prices and the weaker pound, sending costs to record highs. Read More

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Arsenal 1 - 2 Watford: Hornets sting Gunners title hopes

The French forward joined on loan until the end of the season but, although he did not receive global clearance in time to feature against Millwall, he is likely to play some part against Arsenal. We've very used to Arsenal fans completely losing it on camera after the game, but this mid-game stuff is all new, and you can't say it's not entertaining. Read More

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Despite emissions scandal, Volkswagen back on top

The German automaker considered this achievement a milestone recovery, after downfall of the company's reputation due to the controversial emission scandal. According to published figures, Volkswagen delivered 10.31 million cars (1.03 Crore) in 2016. "We made strides in resolving and overcoming the diesel crisis and. Read More

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German CPI gains speed up in January, economists calm

German consumer prices, harmonized to compare with other European countries (HICP), rose by 1.9 percent on the year after an increase of 1.7 percent in December, the Federal Statistics Office said. "That combined with stock market weakness pushed German yields back down". Portuguese yields hit their highest level in about a year PT10YT=TWEB. The inflation acceleration has raised outspoken pressure to tighten monetary policy from German economists, including its member of the ECB's rate-setting ... Read More

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TransCanada submits new application for Keystone XL pipeline

TransCanada submits new application for Keystone XL pipeline

In a release issued after stock markets closed on Thursday, TransCanada's (TSX, NYSE: TRP) president and CEO Russ Girling said Keystone XL would help the USA meet its growing energy needs. His directive asked that the US agency make a decision on a new TransCanada application within 60 days of receiving it - meaning a new decision will now come by the end of March. Read More

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Toshiba set to separate and sell partial stake in chip operations

Toshiba set to separate and sell partial stake in chip operations

While it did not confirm any sale plans, Toshiba said Friday it was considering "outside capital" to help restore its finances. Toshiba gave two reasons for initiating the process. The company bought a contractor called CB&I Stone & Webster that specializes in nuclear power plant construction. Toshiba estimates the value of its memory chip business at 1-1.5 trillion yen ($9-13 billion), a person with direct knowledge of the matter has told Reuters . Read More

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Ant Financial to buy MoneyGram for US$880m

The combination will provide consumers in over 200 countries and territories with financial services, thus furthering Ant Financial's objective to become the leading platform of its kind in the world. Meanwhile, there is a push in Washington to boost CFIUS's power. Thomas H. Lee Partners and some MoneyGram executives who together own about 46 percent of the MoneyGram shares say they will vote for the deal. Read More

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Bob Evans Farms Inc (BOBE) Is Getting Out of the Restaurant Business

In addition, the packaged-food division, BEF Foods, said it would acquire Pineland Farms Potato Company for $115 million as it doubles down on growth in its packaged-foods segment. Golden Gate Capital has multiple investments in the food industry, including Red Lobster and On the Border Mexican Grill & Cantina. In addition, the company's board also approved increasing the ongoing share buyback program to $100 million through the calendar year. Read More

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Inflation drops to 1.7%

But the December quarter and any prospective growth in prices in the three months to March won't produce any change to the no rate move approach of the RBA for all of this year. The central bank is more likely to be torn between resurgent commodity prices, uncomfortably high house price growth, an unexpected economic growth contraction in the September quarter and disappointing jobless figures. Read More

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Senate Subcommitte Votes to Defund Planned Parenthood

Senate Subcommitte Votes to Defund Planned Parenthood

One facility in Virginia Beach, Va. had a holding message that said it provides prenatal services while the woman who answered the phone said the center did not provide abortion services. A Senate committee could vote on the measure as soon as Wednesday. After four years it showed "a 42 per cent drop in abortions, a 40 per cent drop in unintended pregnancies, and a savings range of $49 to $111 million in birth-related Medicaid costs". Read More

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Aetna's Merger With Humana Blocked By Judge

Aetna's Merger With Humana Blocked By Judge

The insurers countered that the DOJ was neglecting to account for traditional Medicare plans provided through state agencies. The merger agreement, which was announced in July 2015, is due to expire on February 15. When combining Original Medicare and Medicare Advantage, argued the insurance companies, there are sufficient competition in the marketplace. After three years of losses and minimal volume, health insurer Aetna in August announced it was pulling back-and almost out ... Read More

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China Just Posted Its Slowest Annual Growth in 26 Years

China Just Posted Its Slowest Annual Growth in 26 Years

Urban and rural per capita disposable income reached 33,616 yuan and 12,363 yuan in 2016, up 5.6 percent and 6.2 percent in real terms, respectively, according to the National Bureau of Statistics (NBS). However, the country's fourth quarter growth rate of 6.8% should put suspicions to rest. "Specifically, the year-on-year growth of GDP for the first quarter was 6.7 percent, 6.7 percent for the second quarter, 6.7 percent for the third quarter, and 6.8 percent for the fourth quarter", the ... Read More

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Paddon calls for calm over spectator death

Paddon calls for calm over spectator death

No further details were given by organizers. Paddon said in a statement this afternoon he's saddened by the accident and has offered his condolences to friends and family of the victim. New Zealand rally driver Hayden Paddon has asked fans not to speculate on the circumstances that caused the death of a spectator at the Rally Monte Carlo yesterday. Read More

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Girl Scouts Caught in Inauguration Controversy

Critics believe that the President-elect's words and alleged actions go against the organization's values. The Girl Scouts responded to similar backlash by claiming that their participation in this inauguration is just business as usual, since they're an organization with a long history of involvement with inaugural events and are a non-political group. Read More

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FAA, UAV aerial photography operator SkyPan settle civil penalty case

Under the terms of the three-year agreement, the USA company will have to pay a civil penalty of $200,000 over a three-year period. The FAA alleged that SkyPan was not authorized to fly drones for business purposes and that its drones were not equipped with a required two-way radio, altitude-reporting equipment, and other accessories for tracking and recording drone flight data. Read More

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