Business


Oil price decline after OPEC output cut extension an 'overreaction'

He said: "The new price of $54 per barrel should be seen as market response to the possible decision of OPEC to extend the production cut, which undoubtedly will reduce the glut or mop up excess supply of oil in the market". More than 400 oil rigs are now working US shale fields - an increase of more than 120 percent compared with a year ago. Russian Federation and OPEC have tools to further support crude prices if needed, the nation's energy minister said in an interview as a lackluster ...



Emmanuel Macron swerves past Donald Trump to embrace Angela Merkel

Marine Le Pen , French National Front (FN) political party candidate for French 2017 presidential election, concedes defeat at the Chalet du Lac in the Bois de Vincennes in Paris after the second round of 2017 French presidential election, France , May 7, 2017.



Mark Zuckerberg, Harvard newspaper get trolled in hack

Dressed in a suit and a light blue tie, rather than his usual grey T-shirt and jeans, Zuckerberg told students that they're graduating during a challenging yet important time in which technology is displacing jobs and many people are feeling disconnected and depressed.



OPEC extends oil output curbs but glut fears persist

With the extension, the output cut will be extended to March 2018. Speaking at the press conference, Mohammed Barkindo, OPEC secretary-general, said U.S. Oil prices have risen less than OPEC hoped for from last year's levels. A longer period of the same level of production disappointed investors in part because of the widely held expectation that USA shale will continue to ramp up, keeping supply high and dampening prices.



HD Supply Holdings Inc (HDS) Stake Lowered by IronBridge Capital Management LP

Alambic Investment Management L.P. raised its position in shares of HD Supply Holdings by 31.9% in the third quarter. Citadel Advsr Limited Liability Corporation invested in 0% or 64,267 shares. FMR LLC now owns 22,738,711 shares of the industrial products company's stock valued at $966,623,000 after buying an additional 1,128,940 shares during the last quarter.


Dollar firm after bounce from lows, yuan slips on China downgrade

Dollar firm after bounce from lows, yuan slips on China downgrade

Treasury yields, while the yuan eased after Moody's cut its sovereign rating on China due to concerns over the country's soaring debt. Moody's this week slashed China's credit rating for the first time in nearly three decades citing concerns about the country's rising debt and slowing growth, but Beijing rejected the downgrade as "inappropriate".