Economy

The White House has responded to a NY Times report that President Donald Trump fired Comey, saying that it had relieved the "great pressure" that had developed due to the Russian Federation probe. I completely disagree. He again usurped the authority of the Department of Justice, by sending the letter over the objection of the Department of Justice; flouted rules and deeply engrained traditions; and guaranteed that some people would accuse the Federal Bureau of Investigation of interfering ...
  • Oil climbs above $50 as OPEC expected to prolong curbs next week

    Economy

    OPEC members agreed late past year to cut collective production at the start of 2017 by 1.2 million barrels a day for six months. OPEC may extend the current production-cut agreement by six months. What's in the deal extension for Iran? While there is still some time before either of the two - the OPEC or the United States tight oil producers - manage to completely push the other out of the market, we believe that the days of $100 per barrel oil are long gone.
  • Snapchat co-founders lose $2 billion after poor Q1

    Snapchat co-founders lose $2 billion after poor Q1

    Economy

    Missing Wall Street's estimates, Snap said its daily active users (DAUs) rose 36.1 percent to 166 million in the first quarter from a year earlier. On the other hand, Facebook revenue was at $1.18 billion during its first reported quarter; Snap Inc.is now at $ 150 million , disappointing analysts, who were expecting at least $158 million.
  • McKesson (MCK) Given Daily Media Sentiment Rating of

    Economy

    Palisade Asset Management LLC increased its position in shares of McKesson by 0.7% in the first quarter. APG Asset Management N.V. now owns 523,581 shares of the company's stock valued at $87,307,000 after buying an additional 151,600 shares in the last quarter.
  • Pirates bolt after Navy warship zeroes in on

    Pirates bolt after Navy warship zeroes in on

    Economy

    The Indian ship, which was at that time 30 nautical miles east of the reported position, immediately responded to the distress call, they said. The Gulf of Aden is one of the busiest sea routes of the world. "Apart from the assault rifle, a loaded magazine was seized from one of the dhows", a Navy spokesperson said. While the weapon and ammunition were confiscated to prevent future illegal misuse, the men were allowed to go after the search.
  • Indian Navy foils piracy attempt in Gulf of Aden

    Indian Navy foils piracy attempt in Gulf of Aden

    Economy

    Indian Navy's MARCOS, with support of an armed helicopter from the ship investigated the dhows and their skiffs by conducting board and search operations. Indian Navy's two frontline warships, INS Mumbai and INS Tarkash were part of the operation while the Chinese Navy had deployed missile frigate Yulin.
  • Gulf states 'offer Israel normalised ties for peace concessions'

    Economy

    Indian media reported in March that "contrary to expectations that Modi would include Palestine in his itinerary too, like many ministers did in the past, he will be traveling only to Israel". India has assured Palestine help to build its economy and support the development and capacity-building efforts. Abbas, who is one four-day visit here till May 17, is visiting India for fifth time.
  • Motorist who mowed down Times Square pedestrians due in court

    Motorist who mowed down Times Square pedestrians due in court

    Economy

    The vehicle appeared to catch fire, as smoke was seen coming up from it. Police said 23 people were struck, including an 18-year-old tourist from MI who died. He was arrested on charges of driving while intoxicated in 2008 and 2015, police Commissioner James O'Neill said. Rojas enlisted in 2011 and served aboard the U.S.S.
  • Saudi, US sign deals 'in excess of $380 billion': Saudi FM

    Economy

    US Secretary of State Rex Tillerson hinted on Saturday that he was open to direct talks with Iran in the future. Speaking at a joint news conference with his Saudi counterpart in Riyadh, Tillerson also said that Washington intends to intensify its efforts to deter Tehran in Syrian and Yemen, countries in which Washington and Tehran side with opposing sides.
  • Oil heads for 2nd week of gains as output cut extension expected

    Oil heads for 2nd week of gains as output cut extension expected

    Economy

    Non-OPEC producers, including Russian Federation, also agreed to cut their output by another, roughly 600,000 barrels a day. Since the start of March, the Brent price has swung from more than $56 a barrel to less than $47 as opinion swayed over whether cuts by the Organization of the Petroleum Exporting Countries and other producers will offset rising USA output.
  • THE HIGHLIGHTS: Warren Buffett talks about investing, technology, risks, and mistakes

    THE HIGHLIGHTS: Warren Buffett talks about investing, technology, risks, and mistakes

    Economy

    Buffett says Wells Fargo didn't act promptly when it discovered the problem. Yet Buffett and Munger stood by Wells Fargo and other Berkshire investments, including United Airlines and Coca-Cola. Buffett plans to play bridge with shareholders at Borsheims. He also highlighted the leaders at the various insurance units. Even the world's most famous investor, also known as the Oracle of Omaha, has regrets.