Markets


Sterling hammered by poll showing risk of hung parliament
- June 05, 2017

The news came after a string of opinion polls show a narrowing lead for May's Conservatives, shaking the confidence among investors that May would easily win a majority in a national election on June 8. But its chief executive, Stephan Shakespeare, told The Times that the model had been tested during the run-up to the European Union membership referendum previous year when it consistently put the Leave campaign in the lead. (more...)
China - April Caixin Services PMI 52.8 (prior 51.5) & Composite 51.5 (51.2)
- June 05, 2017

The large size of Britain's services industry meant this decline outweighed last week's stronger-than-expected surveys for manufacturers and construction firms, dragging the all-sector index to its lowest since February as well. A similar pattern was seen for output prices, which showed a marginal and softer increase during May. Average prices charged rose at the slowest pace since November, while corporate costs grew at the slowest rate in eight months, despite a pick-up in salaries. (more...)
Kurdistan oil exports not subject to OPEC reduction agreement
- June 05, 2017

However, stockpiles remain high and production from non-participating countries, including the USA, has been rising, capping crude some way below the $60 a level earmarked by OPEC's de-facto leader, Saudi Arabia. US output since past year has increased by almost a million barrels a day to a daily 9 million barrels. U.S. West Texas Intermediate (WTI) crude futures CLc1 were below $50, at $49.15, though still up 16 cents from their last close. (more...)
Nadal storms into quarters, Muguruza and Venus exit Nadal storms into quarters, Muguruza and Venus exit
- June 05, 2017

In general terms I played well. "I really needed to get to my chair, and I had already received a warning about time". He's a good person. "If you had been in my shoes on the court, I think you would have understood", defending champion Garbine Muguruza on the partisan French crowd's behaviour during her loss to local hope Kristina Mladenovic - Muguruza would later break down in tears. (more...)
Djokovic sinks Ramos-Vinolas to reach Paris quarters Djokovic sinks Ramos-Vinolas to reach Paris quarters
- June 05, 2017

Novak Djokovic , with new coach Andre Agassi absent from the stands, was too good for the Spanish 19th seed. Nadal next faces another Spaniard, Pablo Carreno Busta , who finally clinched an epic 4-6 7-6 (7/2) 6-7 (6/8) 6-4 8-6 victory over fifth seed Milos Raonic on his seventh match point. (more...)
Pruitt: Trump has 'indicated that climate changes'
- June 05, 2017

Reporters asked both Pruitt and White House press secretary Sean Spicer multiple times Friday to clarify Trump's views on climate change , since Trump had said before taking office that climate change was "a hoax." "As you know, China did not have to take any steps of compliance until 2030". (more...)
Oil prices recover on reports of fall in USA inventory
- June 05, 2017

As a nervous and impatient market is forced to pick the victor between the 1.8 million b/d of OPEC /non-OPEC cuts in force until March 2018 and the rise in USA production underway, even before the full impact of either has been felt, trade has become increasingly sentiment-driven, with the view swinging to the bearish end in recent weeks. (more...)
BA crisis continues as passengers left without bags
- June 05, 2017

On Sunday, had BA warned of further delays and cancellations as it resumed flights following the major IT failure that saw most services cancelled on Saturday. BA's GMB union has said outsourcing IT jobs to India could have made the problems worse. The disruption coincides with the start of the annual end-of-May Bank Holiday weekend in the United Kingdom, as well as the three-day Memorial Day weekend regarded as the unofficial start of summer in the US. (more...)
How to watch Apple WWDC 2017
- June 05, 2017

Apple's first big event of the year, the World Wide Developer's Conference is upon us. A report from late March claimed that Siri would be integrated into the Messages app and iCloud . If rumors are to be believed, Apple will take the wraps off a Siri-powered smart speaker during WWDC. A slight bigger iPad Pro and a Siri speaker which is aimed at controlling home appliances may also be announced. (more...)
Megyn Kelly debuts on NBC Sunday night, features interview with Vladimir Putin
- June 05, 2017

The issue will be front and centre this week in Washington, where former FBI Director James Comey is due to testify on whether Trump tried to get him to back off an investigation into alleged ties between Trump's election campaign and Moscow. (more...)
Freshmen legislators vent frustration at failure of budget deal Freshmen legislators vent frustration at failure of budget deal
- June 05, 2017

Bruce Rauner's promise not to sign it. "Instead, the majority in the general assembly passed phony bills trying to manage phony headlines, rather than trying to solve the real problems of the people of IL". Pensions for retired and current state employees are more than $100 billion short of what's necessary. Prior to Rauner's press conference, state Sen. (more...)
Cristiano Ronaldo in numbers
- June 05, 2017

Real Madrid's Portuguese striker Cristiano Ronaldo falls to his knees as he celebrates their victory on the final whistle of the UEFA Champions League final football match between Juventus and Real Madrid at The Principality Stadium in Cardiff , south Wales, on June 3, 2017. (more...)
OPEC agrees to extend production cuts OPEC agrees to extend production cuts
- June 05, 2017

The group will probably extend the cuts for another nine months until March 2018, four OPEC delegates said on Thursday as they gathered in Vienna . He said OPEC members Nigeria and Libya would still be excluded from cuts as their output remained curbed by unrest. Despite last year's production cuts, oil prices have risen by less than OPEC hoped for. (more...)
China's credit rating downgraded for first time since 1989
- June 05, 2017

Most investors were not taken aback by China's downgrade from an Aa3 credit rating to an A1 on Wednesday, arguing that markets were similarly prepared for such a move. Economy-wide debt of the government, households and non-financial corporates would also continue to rise, it said. The government has trimmed its growth target for this year to about 6.5 percent after it expanded 6.7 percent last year, the slowest growth rate since 1990. (more...)
British police release three men arrested in connection Manchester attack British police release three men arrested in connection Manchester attack
- June 05, 2017

Just five days later, he carried out the deadly attack, killing 22 people outside an Ariana Grande concert at Manchester Arena and injuring dozens more, authorities say. But police have yet to rule out whether he was part of a wider network. "It is vital that we make sure that he is not part of a wider network, and we can not rule this out yet". (more...)
UK's May sees lead slip further, still set for majority - Opinium poll
- June 05, 2017

A view that was seconded by Angela Rayner, British Labour politician and the shadow education secretary. U.K. Prime Minister Theresa May's lead over the opposition Labour Party remains unchanged at 12 points ahead of a June 8 election , but her personal approval ratings have turned negative for the first time, according to a ComRes poll published on Saturday . (more...)
An Australian is in hospital after the London terrorist attack
- June 05, 2017

Islamic State , which is losing territory in Syria and Iraq to an offensive backed by a US -led coalition, said its militants were responsible for the attack , the group's media agency Amaq said in a statement monitored in Cairo. She called for worldwide agreements to regulate cyberspace and said Britain needs to become more robust at preventing the internet from being used to the advantage of extremist groups. (more...)
22 charred to death as bus, truck collide in UP's Bareilly 22 charred to death as bus, truck collide in UP's Bareilly
- June 05, 2017

The bus belonging to Gond depot was commuting to Uttar Pradesh's Bahraich from Delhi. Some injured were rushed to nearby medical facilities. According to police officials, both the vehicles caught fire after the collision. Condition of majority is stated to be critical. Authorities said that the truck was coming from Shahjahanpur district and the driver is absconding. (more...)
Former PSU President will do jail time and house arrest
- June 05, 2017

From his ouster after Sandusky's arrest in late 2011 through his trial this spring, Spanier insisted he was innocent and did not realize that Sandusky was a threat to children. Former athletic director Gary Schultz was sentenced to six to 23 months' confinement, with at least two months in jail, and fined $5,000. "I deeply regret I didn't intervene more forcefully", he said. (more...)
World Bank sees global economy growing 2.7 percent this year
- June 05, 2017

Bank economists still see a risk the Trump administration's "America First" policies could trigger a tit-for-tat escalation in tariffs and other trade barriers in the U.S., China and other countries. The bank also boosted its outlook for Japan to 1.5 per cent, up 0.6 percentage point from its forecast six months ago, as stronger external demand boosts exports and the economy benefits from accommodative monetary and fiscal policy. (more...)