Finance


Treasurys slide after the Fed says growth slowdown is 'transitory'
- May 07, 2017

But the Fed gave no hint of a pause in its statement, repeating the line that has been in all of its recent declarations: "The Committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate". (more...)
Smucker to United CEO: 'There's a lot of work to be done'
- May 07, 2017

Munoz and executives from other major airlines were grilled at a House Transportation Committee hearing on Tuesday. "If we don't see real results after this I assure you, you will not like the outcome", said Schuster. Rep. Rick Larsen (D-Wash.):"You made your problem the customer's problem", Larsen said to Munoz. "It was a mistake of epic proportions, clearly, in hindsight", a contrite Munoz told a hearing of the transportation committee of the House of Representatives on Capitol Hill on ... (more...)
National Day of Prayer recognized across Alabama National Day of Prayer recognized across Alabama
- May 06, 2017

Sixth. Residents, along with community and religious leaders, gathered here in Rose Tree Park to collectively pray for peace and prosperity. "We are here to pray for our country, our city, our people, because that is what God has said he wants us to do". (more...)
Suspect In Delaware Trooper Shooting Dead After Police Standoff Suspect In Delaware Trooper Shooting Dead After Police Standoff
- May 06, 2017

However, the second suspect had fled the scene on foot prior to the troopers' arrival. Burgon Sealy Jr. was killed by law enforcement after a 20-hour standoff. Nathaniel McQueen spoke about the trooper's 8½ years of service Thursday. Cpl. Ballard attended Delaware State University, studying sociology and criminal justice before graduating in 2007, DSU spokesman Carlos Holmes said. (more...)
1st large Chinese-made passenger jet makes its maiden flight
- May 06, 2017

Some 40 domestic and worldwide flights were canceled and over 30 others were delayed at the Pudong airport to give way to the test flying around 2pm. State broadcaster CCTV sent out live footage from the plane, which had no passenger seats installed for the maiden flight. (more...)
Donald Trump tax plan only temporary without border revenue Donald Trump tax plan only temporary without border revenue
- May 06, 2017

The precise impact of the new actions is unclear, but they could lead to a loosening of restrictions on the way companies are structured and scale back regulations on large financial companies. They order two six-month reviews of what the Los Angeles Times called "pillars" of Dodd-Frank: the Orderly Liquidation Authority and the Financial Stability Oversight Council. (more...)
Wall St. dips as Facebook and energy stocks weigh Wall St. dips as Facebook and energy stocks weigh
- May 06, 2017

The Nasdaq composite rose 25.42 points, or 0.4 percent, to 6,100.76. First-quarter profits at S&P 500 companies are estimated to have increased 14.8 per cent, the strongest since 2011, according to Thomson Reuters I/B/E/S. Futures traders are now pricing in a 72 percent chance of June rate hike, up from 63 percent before the Fed's statement on Wednesday, according to the CME Group's FedWatch Tool. (more...)
Fed Keeps Interest Rates Unchanged and Downplays Weak First Quarter Fed Keeps Interest Rates Unchanged and Downplays Weak First Quarter
- May 05, 2017

The Federal Open Market Committee said it was maintaining the target range for the federal funds rate at 0.75 to one per cent. Central bank officials said a sharp slowdown in the pace of economic growth in the first quarter "was likely to be transitory" and that the fundamentals underpinning continued growth in consumer spending "remained solid" despite a first-quarter performance that was the worst in seven years. (more...)
Here's Our First Look At The Obama Presidential Center
- May 05, 2017

RENDERINGS OF THE OBAMA PRESIDENTIAL CENTERHe also announced that his family would donate $2 million for youth summer jobs in Chicago . The former president received a friendly hometown reception from the crowd, which included Mayor Rahm Emanuel, his one-time chief of staff. (more...)
OPEC heads for rollover, bigger oil cut unlikely: delegates
- May 05, 2017

While the market fixates on US production, investors are also monitoring whether producing countries have been complying with their 2016 deal to cut output around 1.8 million barrels per day (bpd) by the middle of the year. Meanwhile, parties to an agreement to balance the markets by the Organization of Petroleum Exporting Countries meet later this month to consider an extension that, until Thursday trading, had established a floor price of crude oil at around $50 per barrel. (more...)
Google's Pichai gets $200-m compensation Google's Pichai gets $200-m compensation
- May 05, 2017

Net profit was $5.42 billion, a 29 percent gain from the first quarter of 2016. According to Alphabet's CFO, Ruth Porat , the positive numbers can be attributed to "ongoing investments in product innovation" which have translated into "great momentum in our new businesses across Alphabet ". (more...)
Gluten-free diet 'could raise heart attack risk' Gluten-free diet 'could raise heart attack risk'
- May 04, 2017

However, should the rest of us do the same? A new study reveals getting "likes" on social media does not make you feel better. According to the American Heart Association , "Dietary fiber from whole grains, as part of an overall healthy diet, may help improve blood cholesterol levels, and lower risk of heart disease, stroke, obesity and Type 2 diabetes". (more...)
PSA to start autonomous tests in Singapore alongside nuTonomy PSA to start autonomous tests in Singapore alongside nuTonomy
- May 04, 2017

Nutonomy , the self-driving auto startup that span out of MIT in 2013, has inked a deal that will see it work with Peugeot-maker Groupe PSA to test autonomous vehicles in Singapore. Groupe PSA said they aims to be the preferred mobility provider for customers worldwide. PSA Group Head of the Business Lab, Anne Laliron, spoke of the different approach required for the design of such vehicles to be used on urban roads. (more...)
Fed set to leave interest rates unchanged, may hint at June hike Fed set to leave interest rates unchanged, may hint at June hike
- May 04, 2017

It said it "views the slowing in (economic) growth during the first quarter as likely to be transitory, " a nod to longstanding challenges measuring economic gains early in the year. "In our view, the USA economy has now reached full employment and is likely to overshoot meaningfully, a path that has often proven risky". The Federal Reserve, facing this week its biggest policy decision yet under Chair Janet Yellen, puts its credibility on the line regardless of whether it waits or raises ... (more...)
Sultan Azlan Shah Cup: Mandeep shines as India edge past Japan Sultan Azlan Shah Cup: Mandeep shines as India edge past Japan
- May 04, 2017

After four matches , Australia are firmly at the top of the table with 10 points from three wins, and a draw, while Great Britain are in the second place after collecting seven points. All eight goals have been through open play, suggesting that India's defensive organisation has been well below par. Although Japan went ahead through a Shota Yamada goal in the ninth minute, the Kiwis ended the first half with a 3-1 lead courtesy of goals by Kane Russel (18th and 32nd) and Sam Lane (35th). (more...)
Revenue Forecast of Kinross Gold Corporation (KGC) Revenue Forecast of Kinross Gold Corporation (KGC)
- May 04, 2017

KGC's revenue has declined at an average annualized rate of about -2% during the past five years. On the cost side of the ledger, Kinross shaved all-in sustaining costs by just $3 per gold-equivalent ounce, to $953/oz, or $5 per ounce for gold sold as byproduct, at $945/oz. (more...)
Wall St flat as Fed meet kicks off; Nasdaq hits record Wall St flat as Fed meet kicks off; Nasdaq hits record
- May 03, 2017

Tech stocks starred with Apple adding 2% ahead of its latest quarterly earnings due to be announced after the market close. In 1.46pm trading, the Standard & Poor's 500 Index gained 0.3 per cent. Crude output in the United States has hit its highest since August 2015, government data shows. Ford (F.N) shares fell 4.4% and General Motors (GM.N) shed 2.9%, as major automakers posted declines in USA new vehicle sales for April. (more...)
O'Reilly Still Denies Harassment Allegations After Fox News Ouster O'Reilly Still Denies Harassment Allegations After Fox News Ouster
- May 03, 2017

O'Reilly's ouster was announced by 21st Century Fox in a short statement that read: "After a thorough and careful review of the allegations, the company and Bill O'Reilly have agreed that Bill O'Reilly will not be returning to the Fox News Channel". (more...)
The Eagles sue a Mexican hotel named Hotel California The Eagles sue a Mexican hotel named Hotel California
- May 03, 2017

The Eagles' song Hotel California is so famous that whenever someone even mentions this name, the song starts ringing in one's ear. "Defendants lead USA consumers to believe that the Todos Santos Hotel is associated with the Eagles and, among other things , served as the inspiration for the lyrics in Hotel California , which is false", the lawsuit reads. (more...)
Trump says he's willing to consider raising gas tax
- May 03, 2017

Even the conservative Tax Foundation, which has rarely seen a tax cut it didn't like, foresees a $2 trillion gap. "This would actually be a dramatic, dramatic increase ", Cuomo said on March 23. Speaking with the Examiner , Trump evinced an attachment to his heretical campaign plan for a New Deal-inspired, $1 trillion infrastructure stimulus. (more...)
Sinclair: 'I've found a home' with Celtic
- May 03, 2017

Other awards handed out at the banquet included Moussa Dembele as the top goalscorer and Kieran Tierney as the young Player of the Year. This season has not finished yet and for me I just want to focus on my fitness and come back stronger. Moussa Dembele, 20, striker (Celtic): the France Under-21 global has proved a bargain signing for around £500,000 from Fulham last summer and scored 32 goals in 49 appearances before his season was cut short this month because of a hamstring injury. (more...)
FCC chief lays out attack on 'net neutrality' rules FCC chief lays out attack on 'net neutrality' rules
- May 02, 2017

The rules also include a "general conduct" standard that broadly prohibits Internet service providers from unreasonably impeding the ability of consumers and content providers to reach each other. ISPs could also slow down its competitors' websites, block content it disagrees with, and impose data limits on users. But loosening the rules now on the books could allow those companies to charge online content companies such as Google and Netflix Inc.to speed content to consumers. (more...)
BP reports higher earnings helped by recovery in oil prices BP reports higher earnings helped by recovery in oil prices
- May 02, 2017

Shares in BP rose around 2% after the update. The group said it swung out of the red with replacement cost profits of $1.4 billion (£1.1bn) for the first quarter against losses of $485m a year earlier. To keep oil prices buoyant, oil companies want the Organization of the Petroleum Exporting Countries , Russia and other producers to extend their global pact to reduce production for another six months from June 30. (more...)
Fleshing Out Trump's Tax-Reform Proposal Fleshing Out Trump's Tax-Reform Proposal
- May 02, 2017

But in reality, hundreds of companies have already figured out how to pay less than that - in some cases, a lot less. Maybe he will eventually provide details, but in his campaign tax plan (which seems similar to the latest), less than 10 percent of low-income households with children would get anything at all, according to the nonpartisan Tax Policy Center . (more...)
Economic growth stumbles to worst rate in 2 years, underscoring Trump's challenge
- May 01, 2017

During that seven-year span, the slowest annual growth in real GDP was 3.5 percent-a level it hit in both 1986 and 1987. However, business investment grew by 9.4%, its best number in three years, and residential investment by 13.7%. "Consumption growth will rebound in the second quarter", says Paul Ashworth, chief U.S. economist at Capital Economics , a research firm. While some of the slowdown may be temporary, inflation is eating into consumers' wallets. (more...)