Markets


Oil hits 11-day low on expected surge in United States shale output
- May 02, 2017

Energy Information Administration . Gasoline stocks posted a counter-seasonal build of 1.5 million barrels. West Texas Intermediate for May delivery fell 25 cents to $52.40 a barrel at 9:16 a.m. Members of the Organization of the Petroleum Exporting Countries are cutting oil production 1.2 million bpd from January 1 for six months, the first reduction in eight years. (more...)
Oil slides more after U.S. settlement on API inventory report
- May 02, 2017

USA government drilling data showed shale production next month was set to rise to 5.19 million barrels per day (bpd), with output from the Permian play, the largest US shale region, expected to reach a record 2.36 million bpd. There was also some vague optimism that OPEC would extend production cuts following rhetoric by Kuwait and Saudi Arabian officials, although sentiment remained cautious. (more...)
United States blacklists 271 Syrian chemists, other experts over sarin attack
- May 02, 2017

Global chemical weapons inspectors from the Organisation for the Prohibition of Chemical Weapons (OPCW) said last week they had found "incontrovertible" evidence that sarin, or a similar substance, was used in the April 4 attack on Khan Sheikhoun, but did not apportion responsibility. (more...)
Trump leaves the door open for releasing his tax returns
- May 02, 2017

In a discussion with Fox Business host Maria Bartiromo, Mnuchin said that the White House and House Republicans "share the same vision" for tax reductions. No law now forces presidential candidates to release their tax information, but it had become customary over the last 40 years for candidates to do so. (more...)
FCC Expected to Kick Net Neutrality to the Curb
- May 02, 2017

The rules reclassified internet service providers much like utilities. Richard Blumenthal (D-Conn.) and Ron Wyden (D-Ore.), three of the most passionate defenders of the FCC's Title II Order, in advance of Pai's speech on the future of net neutrality regulation at an event at the Newseum in Washington hosted by FreedomWorks and the Small Business & Entrepreneurship (SBE) Council. (more...)
Crude Oil Plunges To 5-Week Low Crude Oil Plunges To 5-Week Low
- May 02, 2017

In November a year ago, OPEC and other producers, including Russian Federation agreed to cut output by about 1.8 million barrels per day (bpd). The Saudis were aware that they would be ceding some market share with the OPEC deal, but opted for higher and more stable oil prices by signing up to a deal that allowed Iran to slightly lift its output, while others - especially Riyadh-would have to cut. (more...)
Reckitt Benckiser Group Plc 25.1% Potential Upside Indicated by Whitman Howard
- May 02, 2017

Therefore 100% are positive. SSP Group Plc had 70 analyst reports since July 24, 2015 according to SRatingsIntel. The firm has "Outperform" rating given on Tuesday, March 8 by BNP Paribas. Investec upgraded the stock to "Buy" rating in Tuesday, January 19 report. On Wednesday, August 31 the stock rating was maintained by Deutsche Bank with "Hold". (more...)
Race not factor in San Diego pool party shooting Race not factor in San Diego pool party shooting
- May 02, 2017

She said the gunman also shot at police arriving on the scene minutes after the carnage began, and they returned fire, killing the suspect. The suspect was white; all of the shooting victims are people of color - six African-Americans and one Hispanic man. (more...)
Pai Plans to Reverse Broadband Title II Reclassification
- May 02, 2017

Former FCC Chairman Tom Wheeler said, "No one, whether government or corporate, should control free and open access to the internet". The FCC's previous attempts to do so were denied by a court decision that essentially said the FCC's rules applied to common carriers but not to broadband providers. (more...)
Oil prices up for 3rd straight week
- May 02, 2017

US crude stocks fell last week as refineries hiked output, but gasoline supplies, which are already seasonally high, surprisingly increased, the Energy Information Administration said on Wednesday. The same report also mentioned that Iranian oil minister Bijan Zanganeh said that most oil producers support an extension of output cuts by OPEC and non-OPEC countries including Iran. (more...)
Fact check: Claims about Trump's tax plan don't hold up Fact check: Claims about Trump's tax plan don't hold up
- May 02, 2017

This would "unlock" the US economy, give a big boost to businesses, create jobs and bring trillions of dollars stacked overseas by its companies , US Treasury Secretary Steven Mnuchin told reporters at a joint White House News conference with the National Economic Director Gary Cohen. (more...)
Soft Real GDP Growth in the First Quarter Soft Real GDP Growth in the First Quarter
- May 02, 2017

The GDP or gross domestic product, the broadest measure of all goods and services produced in the country, increased at a disappointing 0.7 percent annual rate, according to new government estimates released Friday. President had pleaded to raise the growth by 4%, which he claimed to do through spending on infrastructure and tax deductions. Many economists are more skeptical. (more...)
US, Iran Trade Barbs Over 2015 Nuclear Deal
- May 02, 2017

Mr Tillerson said the USA is conducting a comprehensive review of its Iran policy and added that the Obama-era nuclear deal only "delays" Tehran's goal of becoming a nuclear state. accusations can't mask its admission of Iran's compliance" with the nuclear deal. The president also repeated his calls for China to play a larger role in helping pressure North Korea, a dictatorship whose nuclear weapons program has caused deep consternation around the world and created special tension with ... (more...)
Trump says he's willing to consider raising gas tax
- May 02, 2017

The one-page plan was silent on both a gas tax or the notion of a reciprocal tax. That followed up a tweet he sent over the weekend which said the "revised healthcare plan will have much lower premiums & deductibles while at the same time taking care of pre-existing conditions!" "Real infrastructure projects are best done at the state and local levels where transparency, efficiency, and accountability are at their highest". (more...)
USA economy is leaving these states behind
- May 02, 2017

He said that strong business and consumer sentiment "must be released from the regulatory and tax shackles constraining economic growth". This means that while the USA economy might be tumbling into a period of stagflation, the central bank still has the opportunity to continue raising base interest rates, making fiscal stimulus an urgent necessity. (more...)
In Latest Populist Betrayal, Trump Executive Order Unchains Wall Street Greed In Latest Populist Betrayal, Trump Executive Order Unchains Wall Street Greed
- May 02, 2017

President Donald Trump said businesses and individuals will receive a " massive tax cut " under a tax reform package that he plans to unveil next week. Another official on Friday was cited saying the administration would only release broad priorities and principles . The action plan promised large tax cuts for the middle class and businesses, a reduction of tax brackets to three from seven, simplified tax forms and an offshore profits repatriation taxholiday. (more...)
Google surges despite YouTube ad controversy
- May 02, 2017

Google forms the largest part of Alphabet's business, with much of the rest of the company comprising of so-called Other Bets , which includes its more ambitious projects, such as its driverless vehicle technology business and smart thermostat firm Nest. (more...)
OPEC, non-OPEC producers committed to restoring market stability - Barkindo
- May 02, 2017

Energy Information Administration's drilling productivity report . US crude inventories, however, fell by 1.0 million barrels last week to 532.3 million barrels, said the EIA. For distillate inventories including diesel, the EIA reported a drop of 2.0 million barrels. US drillers last week added rigs for the 13th week in a row, data from energy services company Baker Hughes showed, extending a 10-month drilling recovery. (more...)
ANZ Bank interim profit rises on restructure
- May 02, 2017

So it shouldn't be such a surprise that the current record low interest rate regime from the Reserve Bank saw the ANZ produce a surge in profit in the six months to March 31, despite a fall in interest income. "Moving to implement the Agile approach at scale in our business is an important evolution in how we run ANZ which will allow is to respond much more quickly to customer needs, create higher staff engagement and make further improvements in efficiency", said ANZ CEO Shayne ... (more...)
FCC outlines plan to eliminate net neutrality rules under new chairman
- May 02, 2017

Ed Markey (D-Mass.), have questioned whether the rules slow investment, pointing to the latest US Census data showing that investments from telecom companies were up from 2014 to 2015. Pai has now issued a proposal to repeal that reclassification, called Title II, raising alarms among net neutrality advocates and throughout the tech industry. (more...)