Markets


Oil bounces off November lows, but bloated United States stockpiles pressure market
- April 03, 2017

The American Petroleum Institute said late Tuesday that USA inventories climbed by 4.5 million barrels to 533.6 million last week, outpacing analyst forecasts of 2.8 million. The Energy Information Administration confirmed the rise Wednesday, reporting an increase by 5 million barrels. The nation's crude output has climbed to 9.1 MMbpd, the most since February a year ago, according to the EIA. (more...)
Kenyan woman who lied about assault to be deported Kenyan woman who lied about assault to be deported
- April 03, 2017

The Circle Officer said the woman has been constantly giving contradictory statements since "we questioned the cab driver to know the reality". Meanwhile, the Association of African Students in India (AASI) said the decision to send her back will be taken by the High Commission. (more...)
New credit card rules could help customers shake off persistent debt New credit card rules could help customers shake off persistent debt
- April 03, 2017

Under the plan, credit card providers should prompt any customers who have have been in persistent debt for 18 month to make faster repayments; after 18 months, if the customer is still in this situation, companies must propose a repayment plan to help them to repay their outstanding balances more quickly; and, in extreme cases when someone still can not afford to repay their balance at a speedier rate, credit card firms should consider reducing, waiving or cancelling any interest or charges. (more...)
Government reduces Lloyds stake below 2%, recouping £20bn Government reduces Lloyds stake below 2%, recouping £20bn
- April 03, 2017

Shares of Bunzl plc ( LON:BNZL ) opened at 2310.00 on Wednesday. Following an update released by analysts at Berenberg on Friday the broker has now set a "Sell" rating on shares of Lloyds Banking Group PLC ORD (LON:LLOY) with a price target of 55. (more...)
Starbucks to test mobile order and pay-only store at headquarters Starbucks to test mobile order and pay-only store at headquarters
- April 03, 2017

This new store format is part of Starbucks' strategy to increase margins by catering to the up-market client base who can pay premium prices. On Thursday shares of Starbucks Corporation rose by 1.08% to close the day at $58.16 a share. (more...)
Official results confirm Serbia PM Vucic elected president
- April 03, 2017

The State Election Commission said after counting 91 percent of ballots that Vucic won 55 percent of votes, followed by liberal candidate Sasa Jankovic with 16 percent, and Luka Maksimovic, a parody politician, with 9 percent. "It was important symbolically for Vucic to meet Putin and to send a message to the majority of his voters, who are pro-Russian, that he has support from Moscow". (more...)
BP to sell Forties pipeline system to Ineos BP to sell Forties pipeline system to Ineos
- April 03, 2017

British petrochemicals company INEOS said Monday it was moving into BP's wake by taking over one of the supermajor's biggest North Sea assets. The pipeline, which came onstream from the North Sea's Forties field in 1975, transports 450,000 barrels per day (bpd) of crude, which amounts to 40% of the United Kingdom production. (more...)
What Happens Now That Republicans Sold Out Internet Privacy?
- April 03, 2017

There are limited ways consumers can protect themselves from having their Web histories collected and sold by their Internet service providers, who are about to get government-sanctioned free reign over their Internet traffic. "They would greatly undermine businesses that rely on ISP data as a source of their overall big data initiatives and further complicate the landscape given the opt-out nature of CAN-SPAM", argued Len Shneyder, VP of industry relations at SendGrid. (more...)
Flynn failed to disclose income from Russian entities: White House Flynn failed to disclose income from Russian entities: White House
- April 03, 2017

He had received money from Russian government-backed T.V. network RT, a US air cargo company affiliated with the Volga-Dnepr Group (which is based in Ulyanovsk, Russia), and the USA subsidiary of Russian cyber-security and antivirus provider Kaspersky Lab. (more...)
Sensex, Nifty reach new closing peaks Sensex, Nifty reach new closing peaks
- April 03, 2017

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,737.73 points, provisionally closed at 29,853.82 points (at 3.30 p.m.) - up 289.72 points or 0.98 per cent from the previous close at 29,620.50 points. During the day, it surged 5.25 per cent to a multi-year high of Rs 1,336. Tata Motors rose over 1 percent on reports that it has laid off around 6,000 temporary employees in the wake of the Supreme Court's verdict banning sale of BS III vehicles from April 1, 2017. (more...)
GGG outlasts Jacobs in close unanimous decision GGG outlasts Jacobs in close unanimous decision
- April 03, 2017

He went 12 rounds against a very good fighter and shed the label as just a slugger. In the end, it was a close fight that I thought could have gone either way. In the ninth, Gonzalez was completely covered in blood on one half of his face and must have been struggling impaired vision despite the relentless pace showing no signs of slowing down. (more...)
South Africans face uncertain future as Zuma South Africans face uncertain future as Zuma "reshuffles" Gordham
- April 03, 2017

Leaders of the Save South Africa movement which organized the protests have called on all South Africans to mobilize like they did during the anti-apartheid period. "The question is if the damage will take the form of an immediate crisis in terms of a collapsing rand, or if it will play out over a longer period", Witwatersrand University's Glaser said. (more...)
Oil Declines as US Drillers Boost Rigs Countering OPEC Curbs
- April 03, 2017

Futures dropped 1.2 per cent in NY. Opec will extend the deal if stockpiles are still above their five-year average, Saudi Arabia Energy Minister Khalid Al-Falih said in an interview with Bloomberg Television last week. "Our forecast is that WTI will go from a US$2 discount early this year to a discount of 50 cents in the second and third quarters". Latest U.S. drilling data supported estimates for higher production, with 14 oil rigs added in the week to March 17 to 631, the most since ... (more...)
Oil Slides as Market Discounts OPEC Output Cut Extension Talk
- April 03, 2017

U.S. crude oil stocks rose to a fresh record last week, the Energy Information Administration said on Wednesday, as a surge in imports and rising domestic production more than offset a hike in refinery runs. Oil prices extended their streak of losses on Thursday, as traders focused on the persistent oversupply of crude in the global market that has weighed on prices in recent years. (more...)
Hong Kong targets activists day after vote
- April 03, 2017

Ms Lam takes over from current leader Leung Chun-ying, who was not seeking a second term, citing family reasons. He will step down in July after five years in charge. China's communist leadership had lobbied for her, so Lam's victory was no surprise. Nathan Law, a member of the Legislative Council from Wong's Demosisto party, told CNN he would not cast a ballot for any candidate. (more...)
Beyonce shows off Baby Bump in new stunning maternity shoot Beyonce shows off Baby Bump in new stunning maternity shoot
- April 03, 2017

The US singer previously sparked rumours she was expecting sons after pictures on her website showing her wearing the same earrings she wore in the 2008 video for her song If I Were A Boy. "The flower probably means girls!", one user wrote. The star announced in February that she was expecting, but fans later pointed out that she had posted an image of herself flashing the peace sign - or possibly the number two - on Instagram weeks earlier. (more...)
Shareholders approve spinoff of Toshiba's prized memory chip unit
- April 03, 2017

Japan's Toshiba Corp. announced that its USA nuclear power unit Westinghouse Electric Co. has filed for Chapter 11 bankruptcy protection following huge losses and a huge debt burden. The move came after Westinghouse incurred billions in cost overruns related to four nuclear reactors it is building in the southeastern USA, the Wall Street Journal reports. (more...)
Crude palm oil futures fall 0.24 pc on profit-booking
- April 03, 2017

Light sweet crude oil (WTI) futures declined 0.88 dollar or 1.82 percent to close at USD 47.34 a barrel at the New York-based commodity exchange NYMEX. Prices are up 20 percent from a year ago. The market may come under further pressure as US rig counts continue to rise, he said. While oil prices remain under pressure and headed for a decline thanks to rising United States inventories, the oil markets are also awaiting signs of declining numbers from OPEC countries and with the current ... (more...)
Queensland storm declared a catastrophe
- April 03, 2017

She said she was visiting Queensland prior to a wedding with her mother. At Mackay, not far from the Whitsunday coast, fences and sheds were blown away, rivers were swollen and high tides and heavy swells still pounded the shore on Wednesday, Nine Network television footage showed. (more...)
Oil tops $50 as Kuwait says OPEC in talks for meeting consensus Oil tops $50 as Kuwait says OPEC in talks for meeting consensus
- April 03, 2017

US crude futures (CLc1) were down 19 cents at $50.16 a barrel after slipping back below $50. "Even though the US production has not replaced the 1.8-million-barrels-a-day void left by OPEC and Russian Federation, the real worry is what if OPEC start producing again after the deal expires?" said Vivek Dhar, a commodities strategist at Commonwealth Bank of Australia. (more...)

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