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Oil Tumbles to Five-Month Low as U.S. Production Builds

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Futures on both sides of the Atlantic dropped to their lowest since late November on growing signs that the group's production cuts are failing to clear a surplus of crude. Net, the faster decline in long-term oil prices than we expected this year is a clear downside risk to our spot price level forecast, even if it helps slow U.S. Read More »

Oil wipes out OPEC-inspired gains with break below $50/bbl

The contract lost US$2.30, or 4.8 percent, to close at US$45.52 on Thursday. USA equities also were lower, with losers led by the energy sector, which fell 2.24 per cent to its lowest since August. Prices are down 7.1 percent this week, heading for a third weekly decline. U.S. oil giants Chevron and Exxon Mobil were two of the biggest fallers on Wall Street, dropping 2% and 1.3% respectively. Read More »

Jared Kushner Details Trump Israel-Saudi-Vatican Trip

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White House officials said Mr Trump will aim to show his "America first" policy is compatible with the U.S. being a global leader. Since Ronald Reagan visited Mexico during his transition and Canada as his first foreign stop in office, each successive president has chosen one of those two countries as the kickoff for worldwide travel. Read More »

China to start allowing US beef imports

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NORTHAM: Under the agreement , China will open its market to us beef importers by mid-July. China has reportedly avoided US -imported beef since 2003 because of concerns about mad cow disease and hormone use. In 2014, the United States exported about $315 million worth of poultry products to China , including chicken feet, or paws, which are popular there. Read More »

Oil prices dip to lowest level in five months

After dipping below $44 Friday, futures pared some of this week's 6.5% plunge. In November, OPEC signed a deal to curb production aimed at easing global oversupply. Prices dropped $2.41 to $48.38 on Thursday. The selloff on Thursday was also due to "broad macro concerns regarding the Chinese economy". CIMB economist Song Seng Wun said weak oil prices could hamper a recovery in Singapore's offshore marine sector. Read More »

'We Finally Agree': Trump Retweets Rosie O'Donnell on Comey Firing

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After Trump tweeted in March that President Barack Obama had ordered a wiretap on his phones in Trump Tower, three ex-employees told The Associated Press that as a businessman, Trump not only anxious about possible listening devices in his phones and office but had also occasionally taped his own phone conversations. Read More »

Trump leaves the door open for releasing his tax returns

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Only mortgage interest, retirement savings, and charitable deductions remain. Trump is proposing big tax cuts for the superrich, including repealing the estate tax .The federal estate tax is widely misunderstood. Just five per cent said that they would, while the rest did not offer an opinion. He said Trump's plan has "significantly bigger cuts at the top", making it mathematically impossible not to be a tax cut for high incomes. Read More »

US, China Cooperation to Extend Trade

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By that same deadline, the United States said it would issue a proposed rule to allow Chinese cooked poultry to enter U.S. markets, Sec. The Energy Department has authorized natural gas shipments of 19.2 billion cubic feet per day to China and other interested countries that lack a broader free trade agreement with the United States, the Commerce Department said. Read More »

UK spending money to strengthen cyber security of health system - Fallon

An global manhunt was well under way for the plotters behind what was being described as the world's biggest-ever computer ransom assault. 'We're not talking about a government organisation or a hospital or anything like that. The ransomware exploits a vulnerability in Microsoft Windows that was purportedly identified by the U.S. National Security Agency for its own intelligence-gathering purposes. Read More »

Sean Spicer, President Trump's press secretary, 'hid among bushes' to avoid journalists

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Following contradictions and mass confusion from surrogates after he abruptly dismissed James Comey, Trump has openly toyed with eliminating daily briefings altogether - despite having bragged about Spicer's sterling ratings. Already, Sanders has received some praise for her performance from reporters on Twitter. That commitment was "previously scheduled", according to White House communications director Mike Dubke. Read More »

Europol warns of further cyberattacks on Monday morning

Too many users decide to postpone or abort updates to avoid interrupting their work. Wainwright said he was anxious that the ransomware attack might spread further once people return to work on Monday, May 15, and log on to their computers. Read More »

'Unprecedented' cyber attack hits 100 countries including India

Shadow health secretary Jonathan Ashworth has written a letter to Mr Hunt, saying concerns were repeatedly flagged about the outdated computer systems. "At the moment we are in the face of an escalating threat, the numbers are going up, I am anxious about how the numbers will continue to grow when people go to work and turn their machines on Monday morning". Read More »

Trump hopes to nominate new Federal Bureau of Investigation director quickly

After Trump made a decision to fire Comey , he was told by aides that Democrats would likely react positively to the news given the role many believe Comey played in Hillary Clinton's defeat past year. Trump didn't provide further details Friday on whether he was taping conversations. Trump's shift in rationale came a day later when he spoke with NBC's Lester Holt. Read More »

Who are the hackers behind global cyberattack?

Hackers said they stole the tools from the NSA and dumped them on the internet. WannaCry exploited a vulnerability to spread itself across networks, a rare and powerful feature that caused infections to surge on Friday. The story, which the as-yet-unnamed security whiz wrote up in a blog post on Saturday, is an example of the driven-to-puzzle-things-out mentality typical of people drawn to cybersecurity. Read More »

Mobile to roll out 5G in U.S

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T-Mobile plans to use some of the 600MHz spectrum that it recently bought for its 5G rollout. The full T-Mobile press release is available here. Importantly, both AT&T and Verizon plan to use high-band spectrum for the fixed launches, which - in theory at least - should enable them to deliver more bits per hertz in comparison with what T-Mobile can achieve in the 600 MHz band. Read More »

US, China sign 10-point trade deal

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The trade deal will open Chinese markets for American beef by July, allowing American producers to export meat for the first time in 13 years. Tensions have been stoked by President Donald Trump's aggressive rhetoric against Chinese exports and barriers to USA goods and investment. Read More »

AG Jeff Sessions' sentencing memo could hurt the wrongfully convicted

Louis and many others". Attorney General Jeff Sessions released a memo to staff this week that included his intentions on getting tougher on crime. The new policy mimics the 1994 Crime Bill introduced by President Bill Clinton. Donald Trump enjoyed major support from law enforcement during the campaign, and that support was on full display today when Sessions announced his new policy and also received an honorary membership at the NY police sergeant's union. Read More »

S.Korea's Moon says dialogue only possible when N.Korea changes attitude

It said U.S. President Donald Trump's "maximum pressure and engagement" policy is only aimed at "stifling us" and will compel the North to "strengthen our nuclear deterrent at the maximum speed". Chief Japanese Cabinet Secretary, Yoshihide Suga, called the latest test a violation of United Nations resolutions as he and Prime Minister Shinzo Abe condemned the move and issued a strong protest over North Korea's actions. Read More »

Poll gives UK Conservatives big lead ahead of June election

Creating a National Education Service to mirror the National Health Service. While successive Labour and Conservative governments have ended up involved in US-led conflicts in the Middle East, Corbyn suggested that a Labour government with him at the helm would do otherwise. Read More »

Oil sinks to its lowest level since November

The result has been 11 straight weeks of expansion in American production in the longest run of gains since 2012. The agreement in Vienna was created to speed the end of the worst oil downturn in a generation by mopping up excess supplies and boost prices, providing some relief to resource-rich nations whose economies have taken a big hit. Read More »

Trump tapes? If they exist, they could spell trouble

The series of tweets come as the White House scrambles to deny that it intentionally misled Americans over the series of events that led to Comey's termination on Tuesday . Spicer said Trump wanted to "choose a leader who can restore leadership" and boost flagging morale. The survey found deep divisions along party lines, with 79 percent of Republicans approving of the firing and only 14 percent of Democrats saying the same. Read More »

Rory McIlroy dealing with sore back again

James Hahn's caddie even found the green on the hole by throwing a golf ball more than 100 yards to get onto the green during the Annual Caddie Competition. Several players did rise to the occasion. But there were example of swift changes in momentum all day. During a 19-hole stretch that started on his 12th hole Thursday and ended with his 12th hole Friday, it was his only par. Read More »

Snap Inc. loses $2.2B in first quarter as public company

Snap posted revenue of $149.65 million, up close to 300 percent over this time a year ago, and annual growth in the number of daily active users of 22 percent to 166 million users. WhatsApp also edged it out with 175 million users. Brian Wieser, an analyst at Pivotal Research commented that the company's revenue was "a relatively disappointing number". Read More »

Oil prices tank on investor fears over further OPEC cuts

Investors are anxious that Opec nations will fail to rein in output further at their next meeting later this month. Prices were propped up temporarily, but for U.S. Also, the recent policy decision by the U.S. government towards allowing drilling in the Arctic and Atlantic Ocean will ensure that United States oil and gas industry will maintain strong production in the coming years and remain a shadow over whatever efforts undertaken by OPEC to push global crude oil prices. Read More »

Trump's tax plan could cost an estimated $5.5 trillion

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White House spokesman Sean Spicer was pressed about the fate of retirement savings during a White House briefing Thursday. Democrats are using the possibility of presidential profits to bash the proposal. Deductions for mortgage interest and charitable donations would still be allowed, under Trump's proposal. For example, the plan would eliminate the tax deduction we now have for the Wisconsin income taxes we pay. Read More »

Crude prices hit 5-month lows as glut fears weigh

USA production "continues to grow hand over fist, and the market will remain well oversupplied given the lack of" refined fuel demand , he added. West Texas Intermediate crude fell below $46 and worldwide benchmark Brent breached $49, both sinking to the lowest level since November 30, the day the Organization of the Petroleum Exporting Countries agreed to cut output. Read More »

Crude prices rise in expectation of Aramco supply cut

A pick up in USA oil production has contributed to the imbalance in the market but there were signs last week that American crude inventories had fallen. Despite this, analysts warned that markets remained well supplied. In a monthly report, the Organization of the Petroleum Exporting Countries revised up its estimate of oil supply growth from producers outside the group this year to 950,000 barrels per day (bpd), up from a previous forecast of 580,000 bpd. Read More »

Carmaker Nissan says UK plant hit by cyber attack

Meanwhile, the MalwareTech tracker detected over 100,000 infected systems over the past 24 hours. The virus infected tens of thousands of computers in almost 100 countries, causing major problems for the British healthcare system and the global courier company FedEx. Read More »

McCarthy as Spicer Cruises NYC Streets on Mobile Podium

McCarthy is due to host the NBC television show on Saturday, when she is expected to revive her portrayal of Spicer as a gum-chewing shouter who berates and threatens journalists for asking probing questions. Haim will be the musical guest. SNL has also released a brief promo music video set to " I Feel Pretty " from West Side Story , showing McCarthy prancing around and getting transformed into the press secretary. Read More »

South Korea urges 'parallel' talks, sanctions to rein in North Korea

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Spokesman Yoon Young-chan said it was the first time a Chinese leader had called a newly installed South Korean president to congratulate them. A week after alleging that the US and South Korea had conspired to assassinate country's supreme leader, North Korea on Thursday asked Washington to hand over would-be killers. Read More »

James Comey Leaks Donald Trump Dinner Details to the New York Times

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Mr Trump said there was no "collusion between me and my campaign and the Russians", but that "the Russians did not affect the vote". Comey was tasked by his fellow intelligence directors to also pull Trump aside and inform him about a secret dossier suggesting that Russian Federation might have collected compromising information about him. Read More »

Banks Plan To Make YOU Pay their $6.2B Budget Levy

Mark Molesworth, a tax partner at business consultants BDO, described it as a "bland budget" in which the government did something on housing affordability without a general cut back on housing tax concessions. Westpac chief executive Brian Hartzer said the levy was a "stealth tax" that would reduce the worldwide competitiveness of the sector, while flagging a possible increase in interest rates for borrowers, job cuts, or a reduction in returns to shareholders. Read More »

England in World Cup Pool of Death again

They are a team that knows us well and we know them very well. They will also face one of the trio of Pacific Island teams. At first glance it seems a tough draw for the Boks, but losing to the All Blacks in pool play would not necessarily dent their quarterfinal hopes. Read More »