Economy

The staff cuts are part of a plan to lop $3 billion off the company's costs this year. The move could put the US automaker on a collision course with President Donald Trump , who has made boosting auto employment a top priority. The voluntary incentives offers will go to about 9,600 of 30,000 USA salaried workers, the company said. Ford has 200,000 employees globally, half of which work in North America.
  • OPEC likely to extend output cuts, but price relief elusive

    OPEC likely to extend output cuts, but price relief elusive

    Economy

    Benefitting from a market structure known as contango, in which future oil prices are higher than those for immediate delivery, USA drillers have sold future production in order to finance expanding output. The International Energy Agency, which advises rich countries on oil policy, said earlier this month that OPEC has a "financial motivation to extend the supply cuts".
  • Medical Properties Trust Inc (NYSE:MPW) Institutional Investors Quarterly Sentiment

    Medical Properties Trust Inc (NYSE:MPW) Institutional Investors Quarterly Sentiment

    Economy

    Before that, quarter ending December 2016, Medical Properties Trust, Inc . also surprised analysts by beating the consensus estimate. Several other institutional investors have also recently made changes to their positions in the stock. If you are reading this piece on another site, it was illegally stolen and reposted in violation of U.S. & global trademark and copyright laws. The legal version of this piece of content can be viewed at ...
  • Wall St. higher at open; Fed minutes awaited

    Economy

    Wall Street has priced in a almost 79% chance of a 25-basis-point increase to the federal funds rate when the FOMC meets June 13-14, according to CME Group fed funds futures. Policymakers had already brought down the official benchmark, known as the federal funds rate, to zero as of December 2008. Recent U.S. data has been sub-par, with Citi's Economic Surprise Index for the U.S.CESIUSD at its lowest level since February 2016, indicating that data has been coming in under market ...
  • France calls for credible worldwide mediation to end Venezuela crisis

    France calls for credible worldwide mediation to end Venezuela crisis

    Economy

    The threat of new sanctions comes as Venezuela's socialist president, Nicolas Maduro, is facing increasing global pressure to hold elections. The United States called Wednesday's first-ever U.N. " It is not tolerable that these individuals, after they destroyed the country, and are responsible for the chaos that Venezuela is experiencing, seek to exonerate themselves ", he said.
  • OPEC, non-OPEC hold informal talks to nail new oil cuts

    OPEC, non-OPEC hold informal talks to nail new oil cuts

    Economy

    So even as a consensus has formed on one particular outcome, here are several possible "surprise scenarios" that could come out of the OPEC meeting this week, ordered by least to most bullish for oil prices . A release of half over 10 years averages about 95,000 barrels per day (bpd), or 1 percent of current US output. OPEC and its allies were close to an agreement to extend their oil-production cuts for another nine months as they seek to prop up prices and revive their economies.
  • Supreme Court rules race improperly dominated NC redistricting efforts

    Economy

    Justice Clarence Thomas, the court's most conservative justice and the only African-American on the court, provided the fifth vote in the case . In doing so, Kagan said the court would not "approve a racial gerrymander whose necessity is supported by no evidence and whose raison d'être is a legal mistake".
  • Poor and disabled big losers in Trump budget, military wins

    Economy

    Life is hard", said Monica Leandro, 48, as she wiped away tears on Tuesday afternoon and described her life situation, and how it could be affected by changes proposed in the White House's budget plan. Ryan sidestepped a question on whether the economic assumptions that allow the balance to budget were realistic, but praised the administration for embracing the goal of economic growth.
  • The 7 most awkward moments from Trump's Israel trip

    Economy

    Mr Jason Greenblatt, formerly a lawyer in Mr Trump's real estate group , has taken the day-to-day role of liaising with officials and leaders in the region on the nitty-gritty of any solution. But in his public remarks, Trump steered clear of any such language, and did not mention what has been the goal of USA diplomacy for two decades: a state of Israel and an independent Palestinian state co-existing side-by-side.
  • Iraq paves way for Opec deal with support for nine more months

    Economy

    He says the market should gauge its compliance using government figures because OPEC data, drawn from six secondary sources including Platts and Argus Media, underestimated the output level used as the baseline for its production target. "From what I have heard, some of the press releases, the Iraqi and Iranian ministers have declared that they prefer six months", he said, before adding: "For nine months not everybody (is) on board".
  • OPEC likely to extend output cuts into next year

    OPEC likely to extend output cuts into next year

    Economy

    Asked whether there was a consensus for a nine-month extension, he said: "Yes, it seems so". Kuwait is part of a joint OPEC/non-OPEC ministerial monitoring committee which also includes Algeria, Venezuela, Oman and Russian Federation. Still, prices are around half the levels reached in 2014. Meanwhile, In the US, the White House included in its budget proposal, a plan to sell half of the nation's 688 million-barrel oil stockpile from 2018 to 2027, as it aims to raise $16.5 billion to ...