OPEC may intervene, but oil will be above $80 this summer

OPEC may intervene, but oil will be above $80 this summer

The Organization of the Petroleum Exporting Countries (OPEC) and some of its allies will meet in Vienna on Friday to discuss increasing oil output, and while it is widely expected that they will increase production oil prices should remain high this summer, according to Goldman Sachs. Continue Reading Below Brent crude oil rallied to about $80 a barrel in the spring amid a tightening market, but pulled back when it seemed apparent that OPEC would intervene. Now,…

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Oil prices climb ahead of OPEC meeting

Oil prices climb ahead of OPEC meeting

Oil prices rose on Monday ahead of an OPEC meeting this week and as investors assessed the impact of a trade dispute between the United States and China. Continue Reading Below U.S. light crude oil CLc1 hit a two-month low of $63.59 a barrel but then recovered strongly to trade at $65.40, up 34 cents, by 1350 GMT. Brent LCOc1 to a high of $74.59 a barrel and was trading at $74.50, up $1.06, by…

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BJ’s IPO could value company at over $2B

BJ’s IPO could value company at over $2B

BJ’s Wholesale Club filed its terms for its initial public offering (IPO) on Monday with the Securities Exchange Commission – and will offer 37.5 million shares in the range of $15 to $17 per share, giving the company a market capitalization of up to $2.15 billion. Continue Reading Below At the top end of the price range, BJ’s would raise $637.5 million. BJ’s was taken private in 2011 for $2.8 billion, but filed with regulators…

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Apple’s iPhone will speed up 911 location info for first responders

Apple’s iPhone will speed up 911 location info for first responders

Apple wants to make your iPhone more secure Fox Business Outlook: Apple is beta-testing a new feature called ‘USB restricted mode’ designed to improve the security of their devices against all kinds of potential intruders. Later this year, Apple iPhone users who call 911 will be able to automatically share their location with first responders – an advancement that should reduce response times. Continue Reading Below Currently, about 80% of 911 calls come from mobile…

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Munich prosecutors say Audi CEO arrested on risk he may suppress evidence

Munich prosecutors say Audi CEO arrested on risk he may suppress evidence

article (REUTERS/Michael Dalder/File Photo) Audi Chief Executive Rupert Sadler has been arrested according to a spokesman for Audi’s parent company, Volkswagen. Continue Reading Below According to Munich prosecutors, Stadler was arrested on Monday because investigators saw the risk that he might seek to suppress evidence in connection with a diesel emissions probe. “The suspect has been seen by a judge, who has ordered him to be remanded in custody,” the prosecutors’ office said in a…

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Stock futures fall as trade worries continue

Stock futures fall as trade worries continue

U.S. stock futures fell to start the week after the U.S. made good on plans to impose tariffs on $50 billion dollars in Chinese goods. Continue Reading Below As expected, China retaliated with a matching amount of tariffs on U.S. goods. Dow Jones futures were down by 0.47%. The S&P 500 fell 0.43% and the Nasdaq Composite was off 0.57%. Japan’s Nikkei sank 0.9% as worries over growing protectionism overshadowed stronger-than-expected export data. Financial markets…

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Trade, oil and housing data headline the week ahead

Trade, oil and housing data headline the week ahead

The Trump administration made good on threats to impose tariffs on Chinese goods on Friday, imposing the duties on $50 billion in goods. Continue Reading Below China retaliated by matching the U.S. with its own tariffs on $50 billion of U.S. goods. We’ll see if the each country tries to outdo each other as the week gets underway. Monday will feature Fed speeches from retiring Federal Reserve Bank of New York President William Dudley as…

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Google to invest $550 million in China’s JD.com

Google to invest $550 million in China’s JD.com

article FILE PHOTO: The Google logo is pictured atop an office building in Irvine, California, U.S., August 7, 2017. REUTERS/Mike Blake/File Photo – RC130AA999F0 Google is investing $550 million dollars in Chinese e-commerce company JD.com. Continue Reading Below It’s a move to expand into Asia and battle Amazon.com. The two companies described the investment as one piece of a broader partnership that will include the promotion of JD.com products on Google’s shopping service. Company officials…

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U.S. oil slumps as China threatens duty on U.S. crude imports

U.S. oil slumps as China threatens duty on U.S. crude imports

article U.S. oil prices slumped on Monday after China threatened duties on American crude imports in an escalating trade dispute with Washington. Continue Reading Below U.S. West Texas Intermediate (WTI) crude futures were at $63.84 a barrel, down $1.22, or 1.9 percent, from their last settlement. In an escalating spat over the American trade deficit with most of its major trading partners, including China, U.S. President Donald Trump last week pushed ahead with hefty tariffs…

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What the stock market’s most crucial week of the year tells us about the road ahead

What the stock market’s most crucial week of the year tells us about the road ahead

Stock-market investors navigated, virtually unscathed, a gauntlet of central-bank gatherings, a historic summit between President Donald Trump and North Korean Kim Jong Un, and flaring trade tensions.  The S&P 500 indexended the week essentially flat, managing the narrowest of weekly gains, up 0.02% to 2,779.66, while the Dow Jones Industrial Averageposted a weekly decline of 0.9%. The Nasdaq Composite Index outperformed both, rising 1.3% for the five-day period.  Not too shabby, considering that the Federal…

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