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Oil higher as USA sanctions on Iran raise supply concerns

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The news agency reported while Saudi Arabia had no desire to push prices higher than $80/Bbl, it may no longer be possible to avoid it. US sanctions affecting Iran's petroleum sector are due to come into force from November 4. Oil prices rose on Monday as investors focused on the impact of USA sanctions on Iran despite assurances by Washington that Saudi Arabia , Russia and the United States could together raise output fast enough to offset falling supplies. Read More »

Latin America Energy, Oil and Gas, News and Information

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Oil production in Iran , a founding member of the Organization of the Petroleum Exporting Countries , fell by 150,000 barrels a day in August, OPEC said, citing secondary sources. Supplies at the key storage hub in Cushing, Oklahoma, rose by an estimated 900,000 barrels last week, according to a Bloomberg forecast. As Florence moves closer to the southeastern coast of the USA, the storm appears likely to strengthen, forecasters said. Read More »

‘China taking advantage of USA for many years’

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The trade war between the US and China is reaching a boiling point. Chinese news reports have quoted a former finance minister as saying Beijing can disrupt American companies' operations by imposing "export controls" if it needs more leverage in its mounting tariff dispute with Washington . Read More »

Ex-employee suspected after strawberries spiked with needles

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On Thursday, a Queensland mother said she found a needle while cutting up fruit for her 12-month-old child and realised she had also given the fruit to her 9-year-old to take to school. A strawberry spiked with a needle from the same punnet as the fruit which struck down Brisbane man Hoani Hearne. According to the Herald Sun , health officials and police said on September 12 that three punnets of strawberries from Queensland and Victoria had been found to have needles in them-one ... Read More »

Trump claims credit for the economy. Not so fast, says Obama

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Gross domestic product increased at a 4.2 annualized rate in the second quarter of 2018, and the unemployment rate was 3.9 percent in April, 3.8 percent in May and 4.0 percent in June. "Like, from the initial fact to what the president said, I don't know the whole chain of command", Hassett said. Trump went on to argue, "I guess I have a magic wand, 4.2%, and we will do MUCH better than this!" What magic wand do you have? The president seemed to be imprecisely referencing remarks made by ... Read More »

Mercedes-Benz unveils EQC electric SUV

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The power from the battery is used by the two electric motors to spin the wheels with speeds of only 180 km/h (112 mph), because Mercedes electronically capped the top speed to that value for some reason. The market for upscale electric cars is Tesla's to lose, with sales of its entry-level Model 3 sedan expected to reach about 50,000 cars this year and nearly double that in 2019. Read More »

Asian friends pull off epic prank of Pearland McDonald's

With the help of a couple of friends, the mission was complete and now nearly two months later, the poster is STILL UP. Amazingly, they arrived in the restaurant, put the poster up and left without any real McDonald's staff member coming to question them. Read More »

After upset win, Massachusetts Democrat comes out swinging at Trump

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Ms. Pressley becomes the second Democrat to. Capuano conceded defeat to Pressley in the race to represent Massachusetts' 7th District approximately 90 minutes after the polls closed. During the campaign, Capuano touted his credentials as an "unabashed liberal", but he found himself competing with Pressley over who was the more progressive candidate. Read More »

Amazon becomes second company to hit $1 trillion value

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According to a report in CBS News, Amazon shares hit $2,050.49 - climbing 1.5 per cent in the morning trade - bringing the company's market value above $1 trillion. The firm is expected to account for roughly half of all online shopping sales in the USA this year - and almost 5 percent of the country's overall retail market, according to research firm eMarketer. Read More »

Petrol, diesel prices hit fresh high, go up for 10th consecutive day

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As petrol and diesel rates continued to soar on Monday after reaching a record high a day earlier, school bus operators indicated there could be a hike in bus fees from the second semester in October. OPEC had said to increase the production of oil by one million barrel per day but it has been two months (July and August) but they have not done this so far. Read More »

Nafta: US-Canada trade talks break up without deal

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The Wall Street Journal reported earlier that the US intends to notify Congress on Friday that it'll proceed with changes to Nafta with Mexico, and that it remains open to continuing negotiations with Canada. Wait a minute ... why is the Star reporting on comments Trump allegedly made to another outlet? "Or we won't do anything, which is OK too". Perhaps by coincidence or maybe out of necessity, the U.S. Read More »

Diver is consulting lawyers over Elon Musk paedophile slur

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Unsworth engages in the sexual exploitation of Thai children, and you did so at a time when he was working to save the lives of twelve Thai children", Unsworth's lawyer L. While the latest communiqués avoided any reference to the troubled auto company, his August 7 "funding secured" tweet indicating he had raised billions needed to take Tesla private at US$420 a share triggered the US Securities and Exchange Commission to intensify a pre-existing investigation into firm's public ... Read More »

99.3% Of Demonetised Currency Back In System: RBI Report

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It took almost two years for RBI to complete the tasks of processing and verifying banned currency notes, its annual report showed. For instance, the SBI's economic research department, headed by chief economist Soumya Kanti Ghosh, predicted that up to Rs 2.5 lakh crore wouldn't come back into the banking system . Read More »

Fed to continue further, gradual rate hikes: Chair

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Powell says this gradual approach is the wisest policy for the Fed in trying to navigate between the risks of raising rates too fast and thus "needlessly shortening the expansion" and moving too slowly and risking an overheated economy. Read More »

Oil trades near two-week high after United States inventories plunge

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The port district of Houston-Galveston accounted for 12 percent of total USA crude oil imports as of May. Oil also found support from a weaker dollar, which has slipped this week in response to US President Donald Trump's comment that he was "not thrilled" by the Federal Reserve's interest rate increases. Read More »

Cramer: The Bull Run Survived These 10 Challenges(SPX) (NYSE:SPY)

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While the S&P 500 industrial index rose 0.8%, the S&P consumer discretionary index climbed 0.9% - riding high on the success of off-price retailer TJX Companies and good quarterly reports by the homebuilding company, Toll Brothers. Helping commodity prices was a drop in the dollar after Trump said on Monday he was "not thrilled" with the Federal Reserve for raising rates and that the central bank should do more to help him boost the economy. Read More »

Pope to meet sexual abuse victims during Ireland trip, Vatican says

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Pope Francis vowed on Saturday to end the "repugnant" sexual exploitation of children by Catholic clergy as he made a highly charged visit to once-devout Ireland where years of reported abuse have driven many Irish away from the church. Archdiocese of Boston, where the first abuse crisis erupted in 2002, told the gathering on Friday. They set children's shoes on the pavement, each representing a child who had been abused by priests. Read More »

Giuliani: If Trump were impeached 'the American people would revolt'

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He says, "I don't know how you can impeach somebody who's done a great job". Currently Republicans control the House of Representative and have yet to show any sign that they are even considering impeachment as an option, but many political analysts believe that Democrats will win back the House in November, equating to an nearly certain impeachment. Read More »

Trump 'Not Thrilled' with Fed Chairman Powell Over Rate Hikes

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Trump has broken from the majority of Republicans on monetary policy with his support for low interest rates to stimulate the economy. The Fed has indicated it expects to raise interest rates two more times this year. For example, the current Federal Reserve policy is calling for relatively small increases in rates that have been spaced out over what is now almost a three-year period and these increases have been so modest that it can't really be said that they've had a major negative ... Read More »

Google employees not happy about new plans for China

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It is also the latest example of how Google's outspoken workforce has agitated for changes to strategy. In April, thousands of staff criticised its work on a U.S. In the letter, which is an internal petition, the employees asked for more transparency and oversight of Project Dragonfly , the project's internal title. Read More »

Elon Musk Tesla New York Times Interview

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Last month he launched an extraordinary attack on one of the British divers involved in the rescue of 12 boys and their football coach who were trapped in a cave in Thailand, baselessly calling the diver a " pedo " on Twitter . Musk shocked investors last week with a tweet that he was considering taking Tesla private at a price of $420 a share and that funding was "secured". Read More »

Business groups, citing tariffs on Turkey, criticize Trump's use of Section 232

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The U.S. recently slapped financial sanctions on two Turkish ministers and doubled steel and aluminum tariffs on Turkey over the pastor's continued detention, causing economic upheaval in Turkey. US authorities have rebuffed efforts by Turkey for the extradition of Gülen, who lives in Pennsylvania. Turkey retaliated with some $533 million of tariffs on some U.S. Read More »

Turkey has more to ‘lose’ in Apple boycott

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The Turkish currency dropped to 6.0700 against the dollar yesterday, having hit a record low of 7.2149 on Monday. In a tweet on Thursday, Trump urged Brunson to serve as a "great patriot hostage" while he is jailed and criticized Turkey for "holding our wonderful Christian Pastor". Read More »