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Economy

US President Donald Trump and Saudi Arabia's King Salman bin Abdulaziz Al Saud (R) attend the Arab Islamic American Summit in Riyadh, Saudi Arabia, May 21, 2017. USA crude inventories jumped 8 million barrels last week, quadruple analysts' expectations and the biggest build since March 2017, the Energy Information Administration said.
  • US Federal Reserve raises interest rates amid strong growth

    US Federal Reserve raises interest rates amid strong growth

    Economy

    ET press conference with Fed Chair Jerome Powell. "The labor market has continued to strengthen ... economic activity has been rising at a strong rate", the Fed said in a statement that removed its longstanding reference to the fact that monetary policy remained "accommodative".
  • Oil jumps, then pares gains as Trump pressures Opec again

    Economy

    US President Donald Trump should stop interfering in the Middle East if he wants the price of oil to stop rising, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Wednesday. Mr. Rouhani also did not rule out talks, but a change in US policy will be needed first. Oil prices jumped more than two per cent to a four-year high on Monday after Saudi Arabia and Russian Federation ruled out any immediate increase in production.
  • Iran says its missing barrels can not be compensated

    Iran says its missing barrels can not be compensated

    Economy

    Brent crude hit its highest since November 2014 at $80.94 a barrel, up 2.7%, before falling back to $80.49. To reflect rising US oil exports, CME Group Inc (CME.O) said on Monday it will launch a WTI Houston crude futures contract in the fourth quarter.
  • Instagram's Founders Are Unexpectedly Leaving 'To Explore Our Curiosity'

    Instagram's Founders Are Unexpectedly Leaving 'To Explore Our Curiosity'

    Economy

    The departure of Instagram's founders comes just weeks after Facebook made a decision to bring the photo app's chief operating officer, Marne Levine, back to Facebook to become its global head of business development. With the tech heavyweight's backing, Instagram continued its spectacular growth, adding features including videos, stories and, most recently, its own version of TV .
  • US and China imposed fresh tariffs on each other’s goods

    US and China imposed fresh tariffs on each other’s goods

    Economy

    This latest round of tariffs is the latest escalation of the mounting trade conflict between the world's two largest economies. Chinese officials canceled the planned negotiations after Trump announced he would impose new levies of up to 10 per cent on another $200 billion in Chinese imports, effective Monday.
  • Uncertainty Over Lost Production from Iran Sanctions Still Driving Upside Momentum

    Economy

    Crude oil futures have spiked in early Asian trade on Monday, a move unlikely to be welcomed by US President Donald Trump who took to Twitter late last night to express his displeasure at recent price gains. The meeting ended with no formal agreement on any additional supply boost. He further said all producers - OPEC and non-OPEC - wanted to keep the price of oil at around $80 per barrel.
  • Porsche to stop making diesel cars

    Economy

    Blume's statement comes months after Porsche stopped taking orders for its diesel variants in February, roughly 10 years after its first diesel auto hit the roads. As a result, carmakers around the world have ramped up spending on the development of electric cars, hoping to catch up with pioneer Tesla TLSA.O. " Porsche is not demonising diesel ".
  • US oil price gains on unexpected crude drawdown

    US oil price gains on unexpected crude drawdown

    Economy

    Gasoline consumption usually picks up in the summer and wanes in autumn, but demand remained strong in the latest week, estimated at 9.5 million barrels per day. They also don't want oil prices to fall too much'. The U.S. crude stockpiles were dropped due to the vision of loss of Iranian supply added to concern over the weak stability between production and consumption.
  • Oil hovers near $80, supply concern expected to underpin prices

    Oil hovers near $80, supply concern expected to underpin prices

    Economy

    USA crude inventories rose by 1.2 million barrels to 397.1 million in the week to September 14, according to the American Petroleum Institute (API). On Monday, Russia's Energy Minister Alexander Novak said that OPEC and non-OPEC members would discuss all possible supply scenarios when they meet this month in Algeria.
  • Coca-Cola wants to make weed-infused drinks

    Coca-Cola wants to make weed-infused drinks

    Economy

    In a report based on anonymous sources, BNN Bloomberg reported Monday that Aurora was in serious talks with the Coca-Cola Company. "We are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world", Coca-Cola spokesman Kent Landers said in an emailed statement to Bloomberg News.
  • Panicked passengers bleed from ears after cockpit bungle on India flight

    Panicked passengers bleed from ears after cockpit bungle on India flight

    Economy

    Gupta said 30 passengers experienced nose and ear bleeding, and some also complained of headache. "After we took off the air-conditioner malfunctioned, then air pressure system malfunctioned too and oxygen masks came out". The pictures showed oxygen masks being deployed for the passengers and a few passengers even posted pictures wearing safety gears. The Times reported that India's Aircraft Accident Investigation Bureau has launched a probe into the incident, and the airline said it ...