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OPEC Crude Oil Production Unchanged in April: Platts

On Friday, West Texas Intermediate crude oil trading on the New York Mercantile Exchange CLM7, +2.09% the US benchmark, logged a weekly decline of 6%. "However I feel it is a bit unusual so close to (an) OPEC.meeting where a rollover seems likely", said Oystein Berentsen, managing director for oil trading company Strong Petroleum in Singapore. Read More »

The Two Words That Will Define the Next Several Weeks: Special Prosecutor

Trump told reporters on Wednesday that Comey "wasn't doing a good job", while White House spokesman Sarah Huckabee Sanders said the president had "been considering letting Director Comey go since the day he was elected". Moscow has denied meddling in the election and the Trump administration denies allegations of collusion with Russian Federation. For more than a week, Dawsey writes , Trump "weighed firing" Comey because, according to two advisers, "he had grown enraged by the Russian ... Read More »

Jared Kushner's Family Apologizes for Using His Name in Investment Pitch

The Kushner family held an event in Beijing, China, with the message, "Invest $500,000 and immigrate to the United States", according to an article by Emily Rauhala and William Wan for The Washington Post . It's all part of a push and pull that has only intensified as the Trump administration wades deeper into policymaking. "During the course of this event, they displayed the president's image because they were identifying him as a key decision maker on these so-called EB-5 visas", ... Read More »

Trump, Putin hold 'constructive' talks on ending Syrian civil war

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The Kremlin said Trump and Putin agreed to bolster diplomatic efforts to resolve the Syrian civil war, which has left hundreds of thousands dead and millions more displaced. "But any Russian hopes of a cosy relationship with the United States have evaporated". The key visit, Merkel's first to Russian Federation in two years, would mainly focus on the conflict in eastern Ukraine and the violence in Syria that has gripped the country since March 2011. Read More »

Moon and the Sunshine Policy Win South Korean Election

Moon spoke during his inauguration ceremony at the National Assembly building in Seoul . "If conditions ripen and provide opportunities to significantly lower military tension in the Korean Peninsula and open a path toward solving the North Korean nuclear problem, which is the most urgent threat to our security, then I think (Moon) will be able to go to Pyongyang". Read More »

Bill Shorten's Budget reply likely to be a scorcher

In his 2017 Budget , Treasurer Scott Morrison announced a six-basis point levy on Australia's five largest banks with liabilities of more than AUD100bn (USD73.7bn). Australia is among 10 countries still rated triple A by all three major agencies, but slower economic growth in recent years and a stubborn fiscal deficit have jeopardised its top ranking. Read More »

Workers building road to reach Hanford tunnel

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U.S. Energy Secretary Rick Perry says a hole that developed in the top of a nuclear waste storage tunnel in Washington state has been filled. It was originally created to hold rail cars for carrying equipment for use in processing plutonium, and some of those contaminated cars are still in the sealed tunnels. Read More »

Australia to drug test unemployed in trial welfare crackdown

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The decision has been condemned by substance abuse experts and some MPs who have condemned it as discriminatory and hypocritical, and have called for the mandatory drug testing... "This budget has totally demonised and framed young people and welfare recipients as criminals, drug users and a lesser group of people that deserve to go without", says Jill Molloy, welfare officer with the National Union of Students. Read More »

Oil price up on in USA petroleum stocks, possible OPEC cut extension

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Global benchmark Brent crude settled up $1.49 a barrel, or 3 percent, to $50.22 a barrel. Eastern time (1535 GMT). However, after Brent fell below $50 a barrel last week, analysts said producers felt forced to act. All this is going on, but even while OPEC has been sticking to its pledge to cut production, USA output has increased by over 10 percent since the middle of 2016, boosted by the shale sector, coming close to matching the total output of Russian Federation and Saudi Arabia ... Read More »

Takeaways From Buffett's Address To Berkshire AGM

Asked about the House bill, Buffett said, "All I can tell you is the net effect of that act on one person, is that my federal income tax would have gone down 17 percent past year if what was proposed went into effect". He also said he missed an opportunity by failing to invest in Amazon.com Inc. Billionaire investor Warren Buffett has explained why Berkshire Hathaway doubled its AAPL holdings in January, stating that he used his understanding of the furniture market to appreciate the ... Read More »

North Korea accuses USA of assassination plot against Kim Jong Un

According to Pyongyang's state-owned news agency KCNA, Kim inspected the two military units on Jangjae and Mu isles, near South Korea's Yeonpyeong Island that North Korea bombarded in 2010. The U.S. military has said Central Intelligence Agency director Mike Pompeo visited South Korea this week and met the NIS chief for discussions. He was told that "assassination by use of biochemical substances including radioactive substance and nano poisonous substance is the best method that does not ... Read More »

Sinclair Broadcast Group to acquire Tribune Media for $3.9B

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Shares of Sinclair Broadcast Group Inc. fell 83 cents, or 2.2 percent, to close Monday at $36.12. Tribune's 42 TV properties in major markets, such as KTLA in Los Angeles and WPIX in NY. According to CNBC , Ring of Honor parent company Sinclair Broadcast Group will acquire 100 percent of Tribune's shares, valued at about $43.50 each, as well as their debt of $2.7 million. Read More »

India's Snapdeal founders, Nexus reach deal with SoftBank for sale to Flipkart

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SoftBank has invested about $1 billion into Snapdeal since 2014, but is facing a fierce competition from United States major Amazon which snatched the No.2 spot from Snapdeal . SoftBank is also reported to be close to infusing cash worth more than $1.9 billion into Alibaba-backed digital payments firm Paytm. However, a significant chunk of such investments have shown little signs of recovery, prompting SoftBank to scout for mergers. Read More »

North Korea accuses Central Intelligence Agency of 'bio-chemical' plot against leadership

Reclusive North Korea warned this week that USA hostility had brought the region to the brink of nuclear war. The statement called the plot equivalent to "the declaration of a war" by the United States against North Korea. South Korea's Yonhap news agency quoted South Korea's Defense Minister Han Min Koo as saying on January 4 that South Korea would launch a special unit this year tasked with "removing or paralyzing" North Korea's command structure in the event of a war. Read More »

Snapchat's growth stalls in Facebook's shadow; stock plunges

Also, Snapchat generated revenue of $0.90 from each user in the first quarter of 2017. In Europe, the company also added 3 million daily users, hitting 55 million DAUs in that region in the first quarter. Instead, it wants to attract consumers in only the most developed markets, where there's a robust advertising market and where the internet is fast enough to produce its fun video and photo effects without too much lag time. Read More »

President Trump Stands Firm On Trade, Promises NAFTA Overhaul

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Trump's late-Wednesday statement said he would not withdraw "at this time". It removed tariffs and allows a free flow of goods between the United States, Canada and Mexico. But the president says he was persuaded to reconsider by the leaders of Canada and Mexico. "What many Americans don't always fully appreciate is, Canada is the single biggest customer of the United States". Read More »

Brawl breaks out at a FL airport following cancellation of 81 flights

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CNN notes that just on Sunday, the airline had to cancel 81 flights, "comprising 17% of the carrier's scheduled flights for the day". Video posted on social media showed passengers being taken out of the airport by police. Visiting from Chicago, Tamari Cameron, 23, and Latreece Smith, 26, spent the night at the airport after their flight was canceled. Jennifer Glann said at the airport Tuesday that she was in the crowd Monday night, trying to get home to New Haven, Connecticut. Read More »

Crowds cheer as first Chinese-made passenger plane makes maiden flight

The development of a wide-bodied passenger jet is now on Comac's radar. If Friday's maiden flight is successful, COMAC, the aircraft's maker, will seek certification from China's civil aviation authority and foreign regulators. The jet soon disappeared into the clouds carrying its skeleton crew of five pilots and engineers. "The Chinese government is interested in establishing independence and self-sufficiency in all aspects of aviation", Douglas Royce, an aerospace expert at Forecast ... Read More »

Phoenix serial killing suspect seemed to live in isolation

Update 8.17pm: A former bus driver arrested over a string of killings that terrorised several neighbourhoods of Phoenix, Arizona, has declared "I'm innocent" during a brief court hearing. Authorities say Saucedo did not know the other victims. Other victims cops believe were killed by Saucedo are Diego Verdugo-Sanchez and Krystal White, who were both gunned down in April of past year; and Horacio De Jesus Peña and Manuel Castro Garcia, who were fatally shot last June. Read More »

Kohl's profit beats on lower costs, leaner inventory levels

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The highest sales estimate is $3.95 billion and the lowest is $3.84 billion. The company is expected to issue its next earnings results before the market opens on Thursday, May 11th. The insider SICA FRANK V sold 14,628 shares worth $619,057. (NYSE:IPG) stock soared 1.33% to $24.45 on the closing of 05/09/2017. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink . Read More »

US Federal Reserve keeps key lending rate unchanged

The Federal Reserve Open Market Committee (FOMC) unanimously voted to hold the target range for the federal funds rate steady at 0.75 to 1 percent at their May meeting. The advance release of first-quarter gross domestic product showed the economy grew by 0.7%, its slowest pace in three years. Policymakers are awaiting clarity on the size and scope of the tax cuts, infrastructure spending and regulatory changes that the Trump administration will be able to push through Congress. Read More »

Trump executive order to quit NAFTA in the works, timing uncertain

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Mexico's peso and Canada's dollar jumped after a White House announcement Wednesday that Trump would renegotiate the trade treaty rather than end it. But in opting to renegotiate - rather than cancel - the agreement, Trump acknowledged that backing out of NAFTA would be "a pretty big shock to the system". Read More »

Family says booted off Delta flight over child's seat, airlines apologises

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Brian Schear, a father of three, posted video on YouTube showing his encounter with a Delta Airlines employee on April 23. In yet another incident that could prove to be a public relations nightmare for the U.S. However, that contradicts the published advice of Delta that says for children less than two years old the airline recommends a seat be purchased and an approved safety seat used. Read More »

United CEO faces Congress after dragging of passenger

Munoz, who was accompanied by United Airlines President Scott Kirby, was one of five airline executives who were grilled by the committee members during, an at times, tense hearing. "But American Airlines said it would not end the practice", Reuters reported. "These changes are not enough to protect passengers", said Rep. Dan Lipinski, an Illinois Democrat on the aviation subcommittee. Read More »

Dollar steady with eyes on Fed for rate clues; kiwi higher

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Friday's US employment report, viewed as the best read on the health of the labor market, could also bolster the Fed's case for raising rates next month. We think the central bank is firmly on course to raise interest rates again at the next meeting in June. Many economists also discounted the weak first quarter as an anomaly frequently seen in the first three months of the year, and continue to see the need for two more rate moves. Read More »

Erik Karlsson leaves Game 4 injured after collisions with Rangers players

Nick Holden's second tally in consecutive contests made the score 2-0 and quieted the erstwhile enthused Senators fans. The Senators will advance to the Eastern final for the first time since 2007 if they win in NY on Tuesday. That came after video review had awarded Vesey a goal with 7:12 when Anderson looked like he had made a big stop but the camera showed his glove was clearly in the net. Read More »

Snap posts big 1Q loss, higher revenue, misses expectations

More than 158 people worldwide use Snapchat daily (a 50 per cent rise on the number of users it had at the end of 2015), with 53m of those based in Europe and 10m within the UK. "And I think they can ultimately hurt our relationship with the customer", he said. "That's going to continue". When you receive a limitless Snap , you can view it for as long as you had like. Read More »

On 'Satyagraha' against AAP, Kapil Mishra attacked by 'party volunteer'

Kapil Mishra was attacked by an AAP supporter on Wednesday. "Even before the police could take him away, (AAP leader) Sanjay Singh made a statement declaring him to be a BJP worker". Mishra wants the party to make the foreign travel records of five senior leaders public, alleging that these records would reveal a lot about corruption within AAP. Read More »

1 arrested after brawl aboard Southwest jet during deplaning

Officers booked Chaz Cable, a 37-year-old Lancaster man, on suspicion of misdemeanor battery. The two men grapple through the aisle, where one gains the advantage and pushes the other down into a seat. It's unclear what started the fight or if they knew each other. The fight was said to have involved three people, but it isn't known what prompted it. Read More »

New Zealand to face South Africa in 2019 Rugby World Cup pool

They have also been drawn with the winners of the play-offs in the Americas and Oceania groups. In the last World Cup, England found themselves in the group of death and duly became the first host nation to crash out of the tournament without making it to the knockouts. Read More »

United CEO Oscar Munoz promises DC lawmakers, 'We will do better'

United President Scott Kirby said most airlines supported the move because it would make flights more efficient. "We are not going away, we will hold you accountable, and we expect real results", said Chairman Bill Shuster, R-Pa. The guy who resisted officers and screamed like a insane man as he was dragged from a United flight to make room for an airline employee, was within his rights to demand an explanation, but not to endanger fellow passengers by clinging to their seats. Read More »