Oil extended its gains above $52 a barrel as a planned production boost from Libya stalled amid continuing tension in the OPEC member exempt from agreed output cuts. Futures climbed as much as 1.2 percent in New York after rising 2 percent on Friday.
Day: December 18, 2016
Libya’s – Elephant,’ Sharara Oil Fields Restart Said Halted
Libyan oil-facility guards prevented two of the country’s biggest fields from resuming production, days after the National Oil Corp. reached an agreement to restart operations there to boost output in the politically divided OPEC state. The El Feel, or Elephant, and Sharara fields still aren’t operational after they were shut more than a year and a half ago, an NOC official said Sunday by phone, asking not to be identified for lack of authorization to speak to news media.
Rosneft Could Accelerate Global Expansion in 2017, Says WoodMac
Rosneft PJSC has the opportunity to accelerate its international expansion next year as the political environment becomes more favorable for the state-run Russian oil producer. U.S. President-elect Donald Trump’s “Russia-friendly rhetoric” and the appointment of Exxon Mobil Corp. Chief Executive Officer Rex Tillerson as Secretary of State “are likely to have a profound impact on the way Russia is perceived by the West,” according to consultant Wood Mackenzie Ltd. Rosneft has recent international success to build upon — its $1.1 billion purchase of a stake in an Egyptian gas field and the Russian government’s sale of 19.5 percent of the company to Glencore Plc and Qatar’s sovereign wealth fund.
California tries again to thwart prison cellphone smuggling
California is installing nearly 1,000 sophisticated metal detectors, scanners and secret security cameras at its prisons in its latest attempt to thwart the smuggling of cellphones, thousands of which continue to flood the prisons despite previous efforts. Officials say the phones can be used to coordinate everything from attacks in prison to crimes on the street, yet they have thus far been unable to prevent even high-security inmates like cult killer Charles Manson from repeatedly getting the devices that are illegal behind bars.
Nebraska Jobless Rate Up Slightly in November
As per Federal Communications Commission Regulations following is certified: Platte River Radio Inc. does not discriminate in the sale of commercial time, and will not accept advertising which, in its sole opinion, is purchased with intent to discriminate unlawfully on the basis of race, gender, or ethnicity. The advertiser hereby certifies that its purchase of commercial time is not made for an unlawful discriminatory purpose, including specifically that it is not based upon a decision to place advertising on a station on the basis of race, gender, or ethnicity.
Ricketts, Labor Department Announce Decline in Unemployment Claims, Tax Rates
As per Federal Communications Commission Regulations following is certified: Platte River Radio Inc. does not discriminate in the sale of commercial time, and will not accept advertising which, in its sole opinion, is purchased with intent to discriminate unlawfully on the basis of race, gender, or ethnicity. The advertiser hereby certifies that its purchase of commercial time is not made for an unlawful discriminatory purpose, including specifically that it is not based upon a decision to place advertising on a station on the basis of race, gender, or ethnicity.
Watsa’s Fairfax Agrees to Buy Allied World for $4.9 Billion
Fairfax Financial Holdings Ltd. agreed to buy insurer Allied World Assurance Co. for $4.9 billion in cash and stock in Chief Executive Officer Prem Watsa’s largest purchase.
EU Interferes With National Powers in Apple Case, Ireland Says
European Union competition investigators exceeded their powers in a probe that ended in a record 13 billion-euro tax bill for Apple Inc., Ireland said, as it challenged the decision. The EU in August ordered Ireland to collect arrears from Apple over its tax arrangements in the nation.
Gone in 60 Seconds: Chinese Snap Up Dollars as Yuan Tanks
Chinese savers, eager to convert their yuan before the currency keeps depreciating, are snapping up U.S. dollar investment products that offer options for keeping money at home instead of sending it overseas. The latest wealth management products from China Merchants Bank Co.
Stop Dancing To The Fed’s Fiddle
For the first time in almost a decade, the market shrugged off a significant move by the Fed when it increased its rate by 0.25%. Of course, the market had anticipated the increase for a year, and so, priced it in earlier.
Fed Hawkishness
As expected, the FOMC raised the policy rate by another 25 basis points this week. This matches my long-time prediction for extreme A1 4bergradualism : hiking rates once per year.
5 Things You Didn’t Know Were Taxable
We all know taxes are unavoidable, but you may not realize how much of your money the IRS gets its hands on. Here are five things you may be surprised to learn are taxable.
Nintendo Tumbles as Super Mario Run Game Debuts to Tepid Reviews
The stock tumbled 4.4 percent as of 10:36 a.m. on Monday, bringing its losses since the game’s debut last week to 8.4 percent. Nintendo’s partner DeNA Co., which helped with the game’s development, has dropped 12.4 percent in the same period.
California AG Threatens Action Against Uber’s Self-Driving Cars
California Attorney General Kamala Harris has told Uber Technologies Inc. to pull its self-driving cars from San Francisco’s streets or it will seek a court order forcing it do so, saying the ride-hailing company needs a permit under autonomous vehicle regulations. If Uber doesn’t comply with the state’s rules, “as have 20 other companies,” the attorney general’s office will ask a judge to require the self-driving cars be taken off the roads, the attorney general’s office wrote in a letter Friday to Uber.
OPEC Deal Leaves Oil Investors Most Optimistic Since Slump Began
Money managers boosted bets on rising West Texas Intermediate crude prices to the highest level since July 2014 after the Organization of Petroleum Exporting Countries and producers outside the group agreed to coordinate crude production cuts. Prices advanced to a 17-month high on Dec. 12 on speculation that the curbs will reduce the global inventory glut next year.
A $55 Billion Manager Who Bought at Market Low Returns to Cash
David Samra, the award-winning stock picker, is boosting cash holdings close to their limit in a market he sees as lacking buying opportunities. Samra, who oversees about $55 billion for Artisan Partners, says he increased cash to about 13 percent of his international fund, near the 15 percent maximum, as equities around the world extend rallies after Donald Trump’s election.
Hedge Funds? Returns Don?t Impress Centrica Pension Fund
Centrica Plc’s pension pot is shunning hedge funds and boosting investment in real assets as it seeks to plug a 1.2 billion-pound funding hole. “My definition of hedge funds is where people seek to magic up returns out of nothing,” said Chetan Ghosh, chief investment officer of the company’s 7.3 billion-pound retirement funds.
Zsa Zsa Gabor, An Original ‘celebutante,’ Dies At 99
Zsa Zsa Gabor, the Hungarian-born actress who was mostly famous for being famous, died Sunday. Though she never admitted her birth date, she was believed to be 99. Her longtime publicist, Edward Lozzi, said the cause of death was heart failure.
3 Reasons InvenSense, Inc. Stock Could Rise
The stock had fallen about 30% for the year at the beginning of December due to its slowing sales growth and competition from bigger rivals like had offered to acquire it for $12 per share. Following that pop, InvenSense stock is now up 6% for the year, but remains almost 60% below its peak of $26 in 2014.
California tries again to thwart prison cellphone smuggling
California is installing nearly 1,000 sophisticated metal detectors, scanners and secret security cameras at its prisons in its latest attempt to thwart the smuggling of cellphones, thousands of which continue to flood the prisons despite previous efforts. Officials say the phones can be used to coordinate everything from attacks in prison to crimes on the street, yet they have thus far been unable to prevent even high-security inmates like cult killer Charles Manson from repeatedly getting the devices that are illegal behind bars.
California tries again to thwart prison cell phone smuggling
California is installing nearly 1,000 sophisticated metal detectors, scanners and secret security cameras at its prisons in its latest attempt to thwart the smuggling of cell phones, thousands of which continue to flood the prisons despite previous efforts. Officials say the phones can be used to coordinate everything from attacks in prison to crimes on the street, yet they have thus far been unable to prevent even high-security inmates like cult killer Charles Manson from repeatedly getting the devices that are illegal behind bars.
Four hippies
But for entrepreneur Bob Goldberg, the name of his vegan food company – Follow Your Heart – is a constant reminder that it’s possible to be profitable and stay true to your company’s idealistic, founding principles. And that idealism has paid off.
Africa’s poetic ‘energy exchange’
Africa Business Report reports from the Lagos International Poetry festival in Nigeria, and caught up with some of the continent’s most inspiring poets.
Libya’s – Elephant,’ Sharara Oil Fields Said Not Operational Yet
Libyan oil-facility guards prevented two of the country’s biggest fields from resuming production, days after the National Oil Corp. reached an agreement to restart operations there to boost output in the politically divided OPEC state. The El Feel, or Elephant, and Sharara fields still aren’t operational after they were shut more than a year and a half ago, an NOC official said Sunday by phone, asking not to be identified for lack of authorization to speak to news media.
Top Yen Analysts Discuss Bull-Versus-Bear Outlook for 2017: Q&A
Japan’s currency went on a roller-coaster ride this year, soaring against the dollar for much of 2016 then sliding back down. When it comes to the outlook for 2017, it turns out the market’s top two analysts have views that could hardly be further apart.
Gone in 60 Seconds: Chinese Snap Up Dollar Funds as Yuan Tanks
Chinese savers, eager to convert their yuan before the currency keeps depreciating, are snapping up U.S. dollar investment products that offer options for keeping money at home instead of sending it overseas. The latest wealth management products from China Merchants Bank Co.
A $55 Billion Manager Who Bought at Market Low Returns to Cash
David Samra, the award-winning stock picker, is boosting cash holdings close to their limit in a market he sees as lacking buying opportunities. Samra, who oversees about $55 billion for Artisan Partners, says he increased cash to about 13 percent of his international fund, near the 15 percent maximum, as equities around the world extend rallies after Donald Trump’s election.
Japan’s Rust Belt Counting on Robonomics to Run Assembly Lines
A withering factory town in Japan’s Rust Belt is looking for revival through a dose of Prime Minister Shinzo Abe’s “robot revolution.” Kadoma’s population has declined 13 percent as the nation ages, prompting mergers among elementary schools and emergency services departments.
These 2 Stocks Are Undeniably Cheap
With the major indexes near all-time highs and with valuations well above the historical average, cheap stocks are like needles in a haystack. Finding compelling value is much harder today than it was a few years ago, and the post-election rally hasn’t helped.
How Much Do I Need to Retire?
Many of us wonder whether we’re saving enough money to retire. It’s a tough question to answer, though.
3 Things to Watch in the Stock Market This Week
Stocks rose last week, continuing their late-year rally despite the Federal Reserve’s decision to boost interest rates for just the second time since the Great Recession. The Dow Jones Industrial Average With just a handful of trading days left, Nike is the Dow’s worst-performing stock in 2016 — sporting a double-digit decline compared to a 13% surge in the index.
Orlando tech firm helps OIA, others analyze online feedback
Submit professional appointments, management-level promotions and significant awards for individuals , along with photos as a .jpg attachment, via email to peopleonmove@orlandosentinel.com . If you have a problem with a company, chances are these days you’ll let them have it on social media.
California tries again to thwart prison cellphone smuggling
California is installing nearly 1,000 sophisticated metal detectors, scanners and secret security cameras at its prisons in its latest attempt to thwart the smuggling of cellphones, thousands of which continue to flood the prisons despite previous efforts. Officials say the phones can be used to coordinate everything from attacks in prison to crimes on the street, yet they have thus far been unable to prevent even high-security inmates like cult killer Charles Manson from repeatedly getting the devices that are illegal behind bars.
Paulson Advantage Said to Pare Loss With Fannie-Freddie Rally
John Paulson trimmed the double-digit losses in one of his main hedge funds last month thanks to a stake in government-sponsored entities Fannie Mae and Freddie Mac that surged on the back of the U.S. presidential election. Paulson & Co.’
The Most Expensive Drugs of 2016
Prescription drug prices have gotten out of control for many Americans and many insurers. Some drugs cost as much as premium sports cars.
Massive 2013 oil spill in North Dakota still not cleaned up
This Oct. 11, 2013 file photo shows cleanup at the site of a Tesoro Corp. pipeline break that spilled more than 20,000 barrels of oil into a Tioga, N.D., wheat field. The massive oil spill still isn’t fully cleaned up three years and three … months after it happened.
3 Unbelievably Undervalued Dividend Stocks
The S&P 500 is currently trading near an all-time high, which is making it quite difficult to find companies that are trading on the cheap. However, if you’re willing to turn over a lot of rocks, you’ll find that there are still ahandful of stocks out there that are trading for dirt-cheap prices.
3 Questions to Ask Before You Buy a Dividend Stock
Investing in high-quality dividend stocks is perhaps the most surefire way to build wealth over time, but not all dividend stocks are high quality. In order to narrow down your search, here are three important questions to keep in mind when researching your next dividend stock purchase.
15 Ways to Lower Your Taxes in 2017 — and Beyond
Paying taxes is necessary — after all, our government needs funding to provide things we need, such as schools, roads, courts, and so on. Still, there’s no need to pay more in taxes than you have to.
Bombardier CEO Seeks to Close Window on C Series Jet Discounts
Bombardier Inc. gained sales momentum for its flagship C Series jetliner this year with major orders from Air Canada and Delta Air Lines Inc. Now it’s looking to get away from the pricing discounts that fueled the aircraft’s rebound. The planemaker expects to book new sales in the coming months after racking up 360 firm orders and more than 400 commitments for the C Series, its biggest-ever plane, Chief Executive Officer Alain Bellemare said.