Business

Oil prices fall amid further oil cuts

Oil prices fall amid further oil cuts

Federal Reserve in June is still sort of hanging over the market, while a broader weakness in some industrial commodities and oil was probably a factor (for a slight weakness in gold this morning)", said Jordan Eliseo, chief economist at ABC Bullion.



UK Labour chief says he'll end 'war on terror' if he governs

With a rating of minus-2, the Conservative Party as a whole was also comfortably ahead of Labour on minus-27. He will add: "We must be courageous enough to admit the " war on terror " is simply not working". A journalist for the Vice News website, Sam Kriss, wrote on Twitter that putting the army out on the streets immediately before a general election could really only have come from political motives rather than the honest desire to protect people.



China's credit rating downgraded for first time since 1989

S&P and Fitch have also revised their ratings, placing China's foreign and local currency long term debt at AA- with a negative outlook, and A+ with a stable outlook, respectively. Third, Moody's conclusion that rises in commercial bank loans, bonds issued by Local Government Financing Vehicles, as well as investments by State-owned enterprises will lead to increase in indirect and contingent liabilities.


Oil price down in spite of OPEC production cuts

Oil price down in spite of OPEC production cuts

Regina Mayor, KPMG Global sector head of energy and natural resources, warned OPEC is being "overly optimistic", underestimating the power of the USA shale industry . "Output in the USA alone is projected by IHS Markit to rise by more than 900,000 bpd from the beginning of 2017 to the end of the year". Reduction in the oil output was one way by which OPEC and other oil producing countries could maintain a balance between the demand and price combination for oil in the global market.



The winners and losers of Trump's $4.1 trillion budget proposal

Top GOP leaders in Congress are praising President Donald Trump's budget plan for promising a balanced federal ledger over time. Democratic defenders of the program warned that would deny health care and nursing home care to millions of people.



Supreme Court Rejects 2 N.C. Congressional Districts As Unconstitutional

In the case involving the congressional districts, a lower court had found them improperly drawn, and in 2016, elections were held in redrawn districts. The full court agreed the first district should be struck down, but split 5-3 with respect to the second district. That's why, hours after the SCOTUS opinion dropped, a federal judge in Texas' upcoming redistricting hearing ordered state lawyers and plaintiffs in the case to submit briefs outlining how the new precedent will affect their case.