Oil prices fall as top three producers look to boost supplies

Oil prices fall as top three producers look to boost supplies

article Oil prices fell on Monday, extending a steep decline in the previous session, as the market eyed an increase in output from the world’s three top crude producers, Russia, the United States and Saudi Arabia. Continue Reading Below Brent crude futures were at $75.34 per barrel at 0124 GMT, down $1.10, or 1.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $66.31 a barrel, down $1.57, or 2.3…

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Oil prices fall as Russia warns of gradual output increase

Oil prices fall as Russia warns of gradual output increase

article Oil prices eased on Friday as Russia hinted it may gradually increase output, after having withheld supplies in concert with producer cartel OPEC since 2017. Continue Reading Below Brent crude futures were at $78.63 per barrel at 0534 GMT, down 16 cents from their last close, and more than 2.2 percent below the $80.50 multi-year high they reached on May 17. Brent broke through $80 for the first time in more than three years…

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US weekly jobless claims increase more than expected

US weekly jobless claims increase more than expected

US jobs optimism hits new high Former U.S. International trade Commission Economist Peter Morici on Trump administration trade negotiations with China and rising optimism on the U.S. job market. WASHINGTON, May 24 (Reuters) – New applications for U.S. unemployment benefits increased more than expected last week, but remained below a level consistent with a healthy labor market. Continue Reading Below Initial claims for state unemployment benefits rose 11,000 to a seasonally adjusted 234,000 for the…

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Heart, diabetes devices pump up Medtronic’s quarterly profit

Heart, diabetes devices pump up Medtronic’s quarterly profit

May 24 (Reuters) – Medtronic Plc reported a better-than-expected quarterly profit on Thursday on higher demand for its heart valves and diabetes devices such as insulin pumps. Continue Reading Below Sales in the cardiac and vascular unit, which sells defibrillators, pace-makers, heart valves and stents, jumped 10.1 percent to $3.14 billion in the fourth quarter, accounting for 38.5 percent of the company’s total sales. Rival Edwards Lifesciences Corp last month said its premium-priced transcatheter heart…

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Oil dips as market eyes possible easing of OPEC supply curbs

Oil dips as market eyes possible easing of OPEC supply curbs

article Oil prices edged lower on Wednesday with the possibility of higher OPEC output weighing on the market, although geopolitical risks are expected to keep prices near multi-year highs. Continue Reading Below Brent futures fell 43 cents, or 0.5 percent, to $79.14 a barrel by 0218 GMT, after climbing 35 cents on Tuesday. Last week, the global benchmark hit $80.50 a barrel, the highest since November 2014. U.S. West Texas Intermediate (WTI) crude futures eased…

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Kohl’s reports higher quarterly profit

Kohl’s reports higher quarterly profit

May 22 (Reuters) – U.S. department store chain Kohl’s Corp reported a 13.6 percent increase in quarterly profit on Tuesday, as efforts to cut back on discounts and maintain a leaner inventory paid off. Continue Reading Below Kohl’s said net income rose to $75 million or 45 cents per share in the first quarter ended May 5, from $66 million or 39 cents per share a year earlier. Sales at Kohl’s stores open for at…

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Oil prices edge up on Venezuela, Iran supply worries

Oil prices edge up on Venezuela, Iran supply worries

article Oil prices rose on Tuesday on concerns that Venezuela’s crude output could drop further following a disputed presidential election and potential U.S. sanctions on the OPEC-member. Continue Reading Below The United States also toughened its stance on Iran and made a list of sweeping demands, which could further curb the country’s crude oil exports and boost oil prices. Brent crude futures were at $79.39 per barrel at 0226 GMT, up 17 cents, or 0.2…

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Blackstone to buy LaSalle Hotel for $3.7B

Blackstone to buy LaSalle Hotel for $3.7B

article FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on the floor of the New York Stock Exchange (NYSE), New York, NY, U.S., April 4, 2016. REUTERS/Brendan McDermid/File Photo (Reuters) (Reuters) – Private equity firm Blackstone Group LP said on Monday it would buy U.S. hotel owner LaSalle Hotel Properties for $3.7 billion, topping a rival bid from Pebblebrook Hotel Trust for $3.5 billion. Continue Reading Below…

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PayPal expands retail payments with $2.2B iZettle buy

PayPal expands retail payments with $2.2B iZettle buy

article FILE PHOTO: The PayPal logo is seen at a high-tech park in Beersheba, southern Israel August 28, 2017. REUTERS/Amir Cohen/File Photo (Reuters) NEW YORK/STOCKHOLM (Reuters) – PayPal Holdings Inc has agreed to buy Swedish financial technology startup iZettle for $2.2 billion in the U.S. online payments provider’s biggest ever acquisition. Continue Reading Below The deal will allow the Californian company to expand into the retail payment terminals business in international markets, where it will compete…

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GE nears deal to merge transportation unit with Wabtec: Sources

GE nears deal to merge transportation unit with Wabtec: Sources

May 20 (Reuters) – General Electric Co is nearing a deal to merge its transportation business, which manufactures train engines, with Wabtec Corp, a U.S. maker of equipment for the rail industry, two people familiar with the matter said on Sunday. Continue Reading Below A deal that could value the combined company at more than $20 billion could be announced as early as this week, the sources said, asking not to be identified because the…

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