Economy

The restrictions on the use of airspace came while nine countries - Bahrain , Saudi Arabia, the UAE , Egypt , Mauritius, Mauritania, Yemen, Libya's eastern-based government and the Maldives - severed diplomatic ties with Qatar. Some banks in these countries cut their exposure to Qatar amid concern of a widening of the blockade, while lenders in the country are boosting interest rates on dollar deposits to shore up liquidity, people familiar with the matter said.
  • G7 Environmental Summit kicks off on Sunday but U.S. leaves early

    G7 Environmental Summit kicks off on Sunday but U.S. leaves early

    Economy

    It also specifically noted President Donald Trump's decision to unilaterally pull out of the landmark Paris agreement on climate change . In a footnote to the communique, the United States said it would not join with the other six countries in reaffirming their Paris commitments, but said it was taking action on its own to reduce its carbon footprint.
  • Mourinho accused of €3.3m tax fraud in Spain

    Economy

    They said Mourinho had already settled a previous claim relating to his Spanish taxes, which resulted in a penalty of 1.15 million euros in 2014. After leaving Madrid, he returned to England for a second spell with Chelsea before joining United, with whom he won the Europa League and the League Cup in the season just finished.
  • 20 dead, 50 wounded in Afghanistan auto bombing

    20 dead, 50 wounded in Afghanistan auto bombing

    Economy

    At least 50 wounded people were rushed to hospital, government spokesman Omar Zwak told AFP, with another official warning of multiple fatalities. The vehicle detonated in the parking lot of the New Kabul Bank in the provincial capital of Lashkar Gah, where dozens of people, both civilians and security personnel, were waiting to collect their salaries.
  • Oil prices plummet to lowest level in 7 months

    Economy

    West Texas Intermediate, the US benchmark for the price of oil, was lower than the previous close by 2.4 percent to $43.36 per barrel. With production rising in Nigeria and Libya , countries exempt from the deal, and output surging in the United States , which was not part of the agreement, the bulls have thrown in the towel.And a bigger than expected cut in US crude stockpiles reported overnight is barely shifting the dial.
  • Oil prices climb off ten-month lows as US stockpiles drop

    Economy

    That means it's set to enter a bear market , which kicks in when settlement prices fall 20 percent from their peak. According to Harry Tchilinguirian, head of commodity markets strategy at BNP Paribas SA in London,"presently in libya there found a support in light of recent supply side development, considering further restoringg of production in Libya, further increase in the USA rig count and reports of floating storage building up again".
  • Oil prices tumble after surprise jump in United States crude supplies

    Economy

    Lower crude oil prices have a negative impact on oil and gas producers' earnings like Noble Energy ( NBL ), Sanchez Energy (SN), and Goodrich Petroleum ( GDP ). The U.S. Energy Information Administration (EIA) said on Tuesday U.S. crude oil production C-OUT-T-EIA could hit a record 10 million bpd next year, up from 9.3 million bpd now and nearly equaling top exporter Saudi Arabia.
  • Congressional shooter carried list of Republican lawmakers

    Congressional shooter carried list of Republican lawmakers

    Economy

    Signs acknowledging wounded Representative Steve Scalise are seen prior to the Congressional Baseball Game at Nationals Park in Washington , D.C., on June 15. Despite the initial scare, his condition appears to have steadily improved. A gunman acted alone when he shot and wounded a top House Republican and four other people on a northern Virginia baseball field , the Federal Bureau of Investigation said Wednesday.
  • Qatar, US sign $12 b military deal amid gulf crisis

    Economy

    President Trump took the Saudi side - a position quickly countered by the Pentagon, which has praised Qatar for hosting the United States airbase and for its "enduring commitment to regional security". "We encourage all our partners in the region to work towards common solutions that enable regional security", Lieutenant Colonel Damien Pickart, a spokesman for U.S.
  • Grocery stocks sink on news that Amazon is buying Whole Foods

    Grocery stocks sink on news that Amazon is buying Whole Foods

    Economy

    But if Amazon can be the one-stop shop for everything - groceries had been one of the key missing elements - customers would have even less of a need to go to Walmart or elsewhere. In the $13.7 billion, all-cash deal, Amazon will buy the Texas-based champion of organic and specialty food for $42 a share. Whole Foods sent a letter to customers after the merger announcement, calling the agreement a new chapter in Whole Foods' history and an incredible opportunity.
  • Key Issues to Look for in the Senate Health Care Bill

    Key Issues to Look for in the Senate Health Care Bill

    Economy

    Democrats don't have enough votes to stop the still-evolving Senate Republican health care bill. "I'm still hoping we reach impasse and we go back to the idea we started with, which is repeal Obamacare", Paul said. "In 2010, then House Speaker Nancy Pelosi said Congress "[ has] to pass the bill so you can find out what's in it". The new legislation would also eliminate federal funding for Planned Parenthood , a non-profit reproductive health organisation that United States president ...