ECONOMY AND FINANCE


U.S. stocks eke out gains but UnitedHealth's stock slump weighs on health-care sector


Reported to us by: MARKETWATCH - Tue, 04/16/2019 - 22:10 - [CET]

U.S. stock indexes on Tuesday managed slight gains, led by a sharp advance in the financials sector, but limited by declines among some of the nation's largest health-care providers. The Dow Jones Industrial Average advanced 68 points, or 0.3%, at 26,452.45 (on a preliminary basis), the S&P 500 index edged up less than 0.1% to 2,907, as the Health Care Select Sector SPDR ETF, as measured by the health-care focused exchange-traded fund, declined by 2.1%, while the financial sector ETF, the Financial Select Sector SPDR ETF, climbed 1.4%, to lead the broad-market. UnitedHealth Group Inc. was in particular focus after Sen. Bernie Sanders called out the compensation of the CEO of the company's health-care unit UnitedHealthcare in a tweet. Shares ended down 4.1%, delivering a headwind to the Dow of which it is a component.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

FDIC board backs reg relief proposals for foreign banks, living wills


Reported to us by: AMERICAN BANKER - Tue, 04/16/2019 - 22:00 - [CET]
Following the Federal Reserve Board, the FDIC signed off on proposed measures to ease resolution planning requirements and tailor supervisory standards for foreign banking companies operating in the U.S.
Newsitem placed in category: ECONOMY AND FINANCE

Banks, credit unions trade blows in court on field of membership


Reported to us by: AMERICAN BANKER - Tue, 04/16/2019 - 21:59 - [CET]
While NCUA lawyers fielded questions about the possibility of redlining, a three-judge appeals panel showed skepticism about other elements of the ABA's arguments against changes to credit union membership rules
Newsitem placed in category: ECONOMY AND FINANCE

EOH shares jump after interim results reveal clean-up


Reported to us by: MONEYWEB - Tue, 04/16/2019 - 21:20 - [CET]
Processes in place to get the governance right and sell non-core assets to deal with the debt.
Newsitem placed in category: ECONOMY AND FINANCE

Qualcomm stock surges as Apple agrees to settlement


Reported to us by: MARKETWATCH - Tue, 04/16/2019 - 21:14 - [CET]

Apple Inc. and Qualcomm Inc. agreed on Tuesday to drop all their lawsuits against each other worldwide. Qualcomm shares rallied 15% to $65.78 in recent trading, while Apple shares rose 0.6% to $200.39. Apple agreed to pay Qualcomm an undisclosed sum in a settlement and agree to a six-year licensing agreement effective April 1, that includes a two-year option to extend, and a multiyear chipset supply agreement. The two sides were actively arguing opening statements in a trial in San Diego, Calif., as the agreement was announced.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

The big ‘if’ confronting BofA’s Moynihan and other CEOs


Reported to us by: AMERICAN BANKER - Tue, 04/16/2019 - 21:11 - [CET]
Bank of America's Brian Moynihan had a lot to brag about in discussing 1Q results but faced questions about what he would do if economic growth slows and rates hold steady for a prolonged period. Other bank chief executives have gotten, or will get, similar questions this earnings season.
Newsitem placed in category: ECONOMY AND FINANCE

Kudlow Says It's Up to Cain Whether to Bow Out or Not


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Tue, 04/16/2019 - 21:03 - [CET]
President Trump’s top economic adviser, Lawrence Kudlow, said it is up to former restaurant executive Herman Cain to decide whether he wants to continue to be considered for a seat on the Fed or bow out.
Newsitem placed in category: ECONOMY AND FINANCE

Dow gets a lift from report that Boeing 737 Max software upgrade found 'operationally suitable'


Reported to us by: MARKETWATCH - Tue, 04/16/2019 - 20:48 - [CET]

The Dow Jones Industrial Average gained some altitude Tuesday afternoon after a Reuters report said the Federal Aviation Administration's review board found an upgrade to software on the embattled 737 Max aircrafts "operationally suitable." Reuters cited a draft report from the FAA. Shares of Boeing a key Dow component, at last check, was rising 2.1%, or $7.69, delivering a jolt to the price-weighted blue-chip index. The gains for Boeing's stock equate to a rise of more than 50 points for the Dow industrials , which were currently up 0.3% at 26,456. A $1 move in any Dow component translates to a 6.8-point swing. Boeing's 737 MAX jets have been in focus after a pair of those jets suffered fatal crashes within six months of one each other, raising questions about anti-stall technology featured on those 2017-era aircraft.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Will White House memo be a roadblock for reg relief?


Reported to us by: AMERICAN BANKER - Tue, 04/16/2019 - 20:36 - [CET]
The administration’s move seems aimed at cutting down on regulation. But broader reviews by the White House under the Congressional Review Act could hinder rules the industry supports.
Newsitem placed in category: ECONOMY AND FINANCE

'Game of Thrones' sets sets a viewership record for HBO


Reported to us by: ABC Business - Tue, 04/16/2019 - 20:28 - [CET]
The premiere to the last season of 'Game of Thrones' sets a viewership record for HBO, which has been operating since 1978
Newsitem placed in category: ECONOMY AND FINANCE

Nokia, the 1990s Cellphone Pioneer, Wants to Topple Huawei


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Tue, 04/16/2019 - 20:20 - [CET]
The Finnish firm, now the No. 2 telecom equipment company, is trying to expand in China and the U.S. at the same time, steering a path through a technology war being waged by the two great powers.
Newsitem placed in category: ECONOMY AND FINANCE

As Wages Rise, Black Workers See the Smallest Gains


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Tue, 04/16/2019 - 20:05 - [CET]
Black workers have received far smaller pay increases in recent years compared with other racial groups, despite unemployment for black Americans trending at historic lows.
Newsitem placed in category: ECONOMY AND FINANCE

Rand weaker after Moody’s report


Reported to us by: MONEYWEB - Tue, 04/16/2019 - 20:02 - [CET]
Markets are sensitive to any pronouncement Moody's makes.
Newsitem placed in category: ECONOMY AND FINANCE

Gold futures mark lowest finish year to date


Reported to us by: MARKETWATCH - Tue, 04/16/2019 - 19:46 - [CET]

Gold futures fell Tuesday to mark their lowest finish of the year so far, as gains in U.S. benchmark stock indexes helped to dull haven demand for the precious metal. "Gold came for sale on heavy volumes at the open this morning, breaking down through key support in the mid-$1,280s thanks to broad, risk-on money flows and more specifically, rebounding interest rates," said Tyler Richey, co-editor of the Sevens Report. June gold lost $14.10, or 1.1%, to settle at $1,277.20 an ounce on Comex. That was the lowest finish for a most-active contract since Dec. 26, according to FactSet data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

RBI says it will issue Rs 50 banknotes signed by Governor Shaktikanta Das


Reported to us by: Economic Times India - Tue, 04/16/2019 - 19:42 - [CET]
The design of these notes is similar in all respects to Rs 50 banknotes in Mahatma Gandhi new series, the RBI said.
Newsitem placed in category: ECONOMY AND FINANCE

New U.S. Policy on Cuba Sanctions Threatens EU Ties


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Tue, 04/16/2019 - 19:38 - [CET]
The Trump administration plans to fully implement longstanding legislation that would allow U.S. nationals to lodge claims against foreign firms that do business in and with Cuba, a senior U.S. official said.
Newsitem placed in category: ECONOMY AND FINANCE

The importance of vetting tenants in a slow rental market


Reported to us by: MONEYWEB - Tue, 04/16/2019 - 19:26 - [CET]
Tobie Fourie – National rentals manager, Chas Everitt international
Newsitem placed in category: ECONOMY AND FINANCE

Consumer demand in peak seasons leaves retailers vulnerable to cash crimes


Reported to us by: MONEYWEB - Tue, 04/16/2019 - 19:25 - [CET]
Richard Phillips – CEO, Cash Connect
Newsitem placed in category: ECONOMY AND FINANCE

Sabvest acquires 30% interest in crypto start-up Revix


Reported to us by: MONEYWEB - Tue, 04/16/2019 - 19:25 - [CET]
Sean Sander – Co-founder, Revix
Newsitem placed in category: ECONOMY AND FINANCE

SA municipalities face collapse as financial governance deteriorates, index shows


Reported to us by: MONEYWEB - Tue, 04/16/2019 - 19:24 - [CET]
Leon Claassen – Analyst, Ratings Afrika
Newsitem placed in category: ECONOMY AND FINANCE

EOH shares jump as group releases interims, reveals clean up


Reported to us by: MONEYWEB - Tue, 04/16/2019 - 19:23 - [CET]
Stephen von Coller – CEO, EOH
Newsitem placed in category: ECONOMY AND FINANCE

Market Watcher


Reported to us by: MONEYWEB - Tue, 04/16/2019 - 19:23 - [CET]
Chantal Marx – Head of research, FNB Wealth and Investment
Newsitem placed in category: ECONOMY AND FINANCE

Suid-Afrikaners se koopkrag daal met R449.8 miljard in een jaar


Reported to us by: MONEYWEB - Tue, 04/16/2019 - 19:18 - [CET]
Johann van Tonder,navorser en ekonoom, verbruikersinsigte afdeling by Momentum.
Newsitem placed in category: ECONOMY AND FINANCE

Vrystaatse skaapboere sprei vlerke tot in Rusland


Reported to us by: MONEYWEB - Tue, 04/16/2019 - 19:17 - [CET]
Manie Wessels van die Mamre en Dormers-stoet gesels.
Newsitem placed in category: ECONOMY AND FINANCE

Zeder se verdienste bly stabiel ondanks moeilike omstandighede


Reported to us by: MONEYWEB - Tue, 04/16/2019 - 19:15 - [CET]
Norman Celliers van Zeder.
Newsitem placed in category: ECONOMY AND FINANCE

EOH se se interessante tussentydse resultate


Reported to us by: MONEYWEB - Tue, 04/16/2019 - 19:15 - [CET]
Stephen van Coller, uitvoerende hoof van EOH.
Newsitem placed in category: ECONOMY AND FINANCE

BFSI propels Wipro’s Q4 profit


Reported to us by: The Hindu Biz. - Tue, 04/16/2019 - 19:12 - [CET]
The information technology major’s profit rises 38% while revenue increases 9%
Newsitem placed in category: ECONOMY AND FINANCE

‘Das may be indicating second generation policy signal’


Reported to us by: The Hindu Biz. - Tue, 04/16/2019 - 19:12 - [CET]
It is similar to U.S. Federal Reserve, says a SBI report
Newsitem placed in category: ECONOMY AND FINANCE

BSNL starts work on 5G


Reported to us by: The Hindu Biz. - Tue, 04/16/2019 - 19:11 - [CET]
Eyes those ‘untouched by mobiles’
Newsitem placed in category: ECONOMY AND FINANCE

CCI okays Bandhan Bank, Gruh Finance merger


Reported to us by: The Hindu Biz. - Tue, 04/16/2019 - 19:10 - [CET]
Competition Commission of India (CCI) has approved the merger of Bandhan Bank Ltd. with Gruh Finance Ltd. According to a regulatory filing, CCI appro
Newsitem placed in category: ECONOMY AND FINANCE

Ajay Dixit appointed CEO of Cairn Oil & Gas


Reported to us by: The Hindu Biz. - Tue, 04/16/2019 - 19:09 - [CET]
He had jointed Vedanta in 2015
Newsitem placed in category: ECONOMY AND FINANCE

Wipro okays ₹10,500-crore buy-back


Reported to us by: The Hindu Biz. - Tue, 04/16/2019 - 19:08 - [CET]
Wipro is going in for a fresh ₹10,500-crore share buyback, for which it recently received clearance from SEBI.The board, that met here on Tuesday, app
Newsitem placed in category: ECONOMY AND FINANCE

Apparel exports drop 3.46% on GST effect


Reported to us by: The Hindu Biz. - Tue, 04/16/2019 - 19:06 - [CET]
Shipments hit on 7% cut in incentives
Newsitem placed in category: ECONOMY AND FINANCE

Export of cotton textiles to China on the rise: Texprocil


Reported to us by: The Hindu Biz. - Tue, 04/16/2019 - 19:06 - [CET]
‘Can aid in the reduction of bilateral trade deficit’
Newsitem placed in category: ECONOMY AND FINANCE

Kurl-on buys Spring Air to expand in premium segment


Reported to us by: The Hindu Biz. - Tue, 04/16/2019 - 19:05 - [CET]
Kurl-on buys Spring Air to expand in premium segment To almost double revenues to over Rs 2000 crore by FY21Special CorrespondentMUMBAIKurl-on, brand
Newsitem placed in category: ECONOMY AND FINANCE

‘Indian travellers spent $94 bn on 2 bn trips in 2018’


Reported to us by: The Hindu Biz. - Tue, 04/16/2019 - 19:03 - [CET]
It indicates an unprecedented growth in travel and tour sector, says report
Newsitem placed in category: ECONOMY AND FINANCE

Saregama India gets ₹32.18 crore in fire insurance claim settlement


Reported to us by: The Hindu Biz. - Tue, 04/16/2019 - 19:03 - [CET]
Company lost stocks of its radio music player Carvaan, music cards in the blaze
Newsitem placed in category: ECONOMY AND FINANCE

Phishing won’t impact our financials: Wipro


Reported to us by: The Hindu Biz. - Tue, 04/16/2019 - 19:02 - [CET]
‘Some employee accounts, clients hit’
Newsitem placed in category: ECONOMY AND FINANCE

HDFC MF justifies giving more time to Essel promoters


Reported to us by: The Hindu Biz. - Tue, 04/16/2019 - 18:54 - [CET]
Investors told to roll over FMPs or redeem at current NAVs
Newsitem placed in category: ECONOMY AND FINANCE

Kudlow: White House Talking to Other Possible Fed Candidates


Reported to us by: Voice of America -Economy - Tue, 04/16/2019 - 18:40 - [CET]
The White House is considering other possible candidates for the board of the Federal Reserve although President Donald Trump still backs his two potential nominees, Herman Cain and Stephen Moore, White House economic adviser Larry Kudlow said on Tuesday. Kudlow, speaking to reporters at the White House, added that Trump's picks are still going through the nominating process for the seats on the U.S. central bank's board of governors. "We are talking to a number of candidates. We always do," he said when asked if the White House was vetting alternates for Cain and Moore, whose controversial potential nominations have raised concerns among economists as well as some of Trump's fellow Republicans. The U.S. Senate must confirm any nominees, and Republicans control the chamber with 53 seats. But four of them have said they oppose Cain, a former pizza company chief executive, effectively sinking his nomination. Neither candidate's name has been formally sent to the Senate, but Trump has pledged to do so. Economists and other critics have raised concerns about two Trump loyalists serving at what has traditionally been a nonpartisan financial entity.  
Newsitem placed in category: ECONOMY AND FINANCE

FDA Orders Makers of Women's Surgical Mesh to Stop Selling the Products


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Tue, 04/16/2019 - 18:40 - [CET]
The FDA has ordered makers of trans-vaginal mesh to remove their products from the market, in response to years of complaints about vaginal pain, bleeding and scarring.
Newsitem placed in category: ECONOMY AND FINANCE

AI beats e-sports world champions for the first time


Reported to us by: TECHCENTRAL - Tue, 04/16/2019 - 18:34 - [CET]
Artificial intelligence software has beaten a human team of world champion professional e-sports players for the first time.
Newsitem placed in category: ECONOMY AND FINANCE

Nasa space telescope finds its first Earth-sized planet


Reported to us by: TECHCENTRAL - Tue, 04/16/2019 - 18:29 - [CET]
A new space telescope has discovered its first Earth-sized planet in a star system beyond the sun.
Newsitem placed in category: ECONOMY AND FINANCE

Amid Ad-Industry M&A, Omnicom Says It Isn't Looking for Big Deals


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Tue, 04/16/2019 - 18:22 - [CET]
Omnicom Group intends to stick with smaller deals, even as Madison Avenue’s big-ticket acquisition spree continues.
Newsitem placed in category: ECONOMY AND FINANCE

Why PacWest's profit fell in 1Q


Reported to us by: AMERICAN BANKER - Tue, 04/16/2019 - 18:08 - [CET]
The Los Angeles bank reported a 5% decline in net income despite strong loan growth as deposit costs rose and fee income fell.
Newsitem placed in category: ECONOMY AND FINANCE

Boeing Looks to Fix Its Reputation, Along With the MAX


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Tue, 04/16/2019 - 18:08 - [CET]
Fixing the grounded 737 MAX plane is only one of Boeing’s daunting tasks in recovering from two fatal crashes of the jet. Another is trying to repair its reputation with airlines, pilots and passengers world-wide.
Newsitem placed in category: ECONOMY AND FINANCE

Comerica's challenge in 2019: Funding loan growth


Reported to us by: AMERICAN BANKER - Tue, 04/16/2019 - 17:42 - [CET]
The Dallas regional assured analysts that it has ample sources of liquidity to cover declining deposit balances.
Newsitem placed in category: ECONOMY AND FINANCE

Beer battle pits Heineken against AB inBev over keg technology


Reported to us by: MONEYWEB - Tue, 04/16/2019 - 17:32 - [CET]
World’s two biggest brewers are locked in a legal battle over the quest to serve a fresh-tapped taste in every mug.
Newsitem placed in category: ECONOMY AND FINANCE

Fearing Austerity, Lebanese Protest Ahead of Budget


Reported to us by: Voice of America -Economy - Tue, 04/16/2019 - 17:22 - [CET]
The Lebanese government has yet to disclose its budget for 2019, but protesters are already in the streets fearing the "difficult and painful" reforms it is expected to announce as it tries to get spending in control and rein in public debt. Retired army officers blocked several highways with burning tires Tuesday, a preemptive warning to the government against any cuts to their pensions that might be part of its effort to reduce one of the world's heaviest public debt burdens. Though small, the protests offered a glimpse of the political minefield facing the government. The budget is seen as a critical test of its will to enact long-stalled reforms that economists say are more pressing than ever for an economy that has suffered years of low growth. State finances are strained by a bloated public sector, high debt servicing costs and hefty subsidizes spent on the power sector. "We went out today to tell them that our pensions are a red line," said Khaled Ammar, one of a number of retired officers blocking the highway south of Beirut. The budget has yet to be finalized but speculation it will include cuts to the massive public wage bill has grown since Foreign Minister Gebran Bassil hinted at such steps Saturday. "There are those who should be making people aware today that if a temporary reduction doesn't happen, then there will be no salaries for anyone," he wrote on Twitter, adding that "if we must start with the ministers and MPs, so be it." Protesters said tackling corruption should be the priority. "If the economic condition of the country has reached this difficult level ... we are not responsible for it, the politicians are," said Ammar, a father of three who served in the military for three decades. Bloated public sector Lebanese leaders have been warning of economic crisis for some time. In a February policy statement, the new government committed itself to launching fast and effective reforms that could be "difficult and painful" to avoid a worsening of economic, financial and social conditions. Prime Minister Saad al-Hariri said last week he was concerned about a Greek-style crisis in Lebanon while saying that government measures would prevent "economic problems." At a Paris conference last year, Lebanon promised to cut its budget deficit by 1 percent of gross domestic product a year over five years. Economists are now looking for a bigger cut because last year's deficit was bigger than expected at between 10.5%to 11% of GDP instead of a projected 8.2%. Serious reforms would help Lebanon unlock some $11 billion in financing pledged in Paris. The government last week approved a plan to overhaul the power sector — a major drain on state finances for years. Critics say the government must deliver this time, pointing to previous such plans that were never implemented. The public sector wage bill is the state's biggest outgoing, followed by servicing the public debt equal to around 150% of GDP. The wage bill went up in 2017 after increases were agreed ahead of a parliamentary election. Nassib Ghobril, chief economist at Lebanon's Byblos Bank, hopes to see the deficit brought down by 2% of GDP and says reforms should include shutting down the many obsolete government agencies. "They have to freeze hiring, freeze future salary increases, and increases in benefits, and they have to cut the number of public sector employees and restructure the way companies restructure when they are in financial difficulties," he said. "The public sector has recruited 31,000 people over the last four years — more than the entire financial sector."
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How to prepare for inevitable time when volatility explodes


Reported to us by: MONEYWEB - Tue, 04/16/2019 - 17:20 - [CET]
A Morgan Stanley strategist is warning that the calm won’t last.
Newsitem placed in category: ECONOMY AND FINANCE

Sony Cracks Down on Sexually Explicit Content in Games


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Tue, 04/16/2019 - 17:19 - [CET]
Sony is cracking down on sexual content in PlayStation 4 videogames globally, reflecting concerns in the U.S. about the depiction of women in games but irritating some software developers.
Newsitem placed in category: ECONOMY AND FINANCE

Kate Spade could have another tough earnings period but a new designer can turn things around


Reported to us by: MARKETWATCH - Tue, 04/16/2019 - 17:17 - [CET]

Wells Fargo analysts are forecasting another tough quarterly report from Tapestry Inc. brand Kate Spade, but say the brand's new designer, Nicola Glass, could improve things going forward. The last collection from Kate Spade's previous designer, Debra Lloyd, "underperformed meaningfully," Wells Fargo wrote. And there's still softness in the "accessible" category of handbags that Kate Spade occupies, which could have an impact on the coming earnings announcement. But a survey of Kate Spade shoppers shows that there's been a noticeable change in 2019 merchandise, with many calling it a change for the better. "That suggests that the Nicola collection is resonating well with Kate Spade's addressable market and the long-term path is still there," wrote analysts led by Ike Boruchow. Wells Fargo rates shares of Tapestry, whose other brands include Coach and Stuart Weitzman, outperform and trimmed the price target to $38 from $40. Tapestry stock has slipped 5% in 2019 so far while the S&P 500 index has gained 16.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Senior HUD official named FHFA deputy director


Reported to us by: AMERICAN BANKER - Tue, 04/16/2019 - 17:05 - [CET]
Adolfo Marzol, who has served as an adviser to HUD Secretary Ben Carson, will now report to the new director of the Federal Housing Finance Agency.
Newsitem placed in category: ECONOMY AND FINANCE

Development Bank Earmarks $4.4 Billion for Central Africa


Reported to us by: Voice of America -Economy - Tue, 04/16/2019 - 17:03 - [CET]
The African Development Bank (AfDB) promised Tuesday to invest $4.4 billion (3.89 billion euros) in infrastructure in over the next seven years. The sum will help to finance 30 projects, ranging from electricity networks and transport to information technology and communication and improve cross-border trade, it said in a statement. Spending will be focused on Cameroon, Chad, Republic of Congo, Democratic Republic of Congo, Gabon, Equatorial Guinea, and the Central African Republic. Growth in central Africa doubled in 2018, with GDP expanding by 2.2% against 1.1% a year earlier, according to AfDB figures. The rate is still far behind the average for sub-Saharan Africa, which was 3.5 percent.  
Newsitem placed in category: ECONOMY AND FINANCE

Sources: Iran's Oil Exports Hit 2019 Low in April


Reported to us by: Voice of America -Economy - Tue, 04/16/2019 - 17:03 - [CET]
Iran's crude oil exports have dropped in April to their lowest daily level this year, tanker data showed and industry sources said, suggesting buyers are curbing purchases before Washington clamps down further on Iranian shipments as expected next month. The United States reimposed sanctions on Iran in November after pulling out of a 2015 nuclear accord between Tehran and six world powers. Those sanctions have already more than halved Iranian oil exports, the country's main source of revenue. Shipments are averaging below 1 million barrels per day (bpd) so far this month, according to Refinitiv Eikon data and two other companies that track such exports and declined to be identified. That's lower than at least 1.1 million bpd as estimated for March. The latest drop deepens supply losses resulting from an OPEC-led global agreement to cut oil production and U.S. sanctions on another OPEC member, Venezuela. Supported by those moves, oil prices have risen 30% this year to $71 a barrel. "Collapsing Venezuelan oil output and sanctioned Iranian exports have put a big question mark over supply," Norbert Ruecker of Swiss bank Julius Baer said. While exports could rise later in the month, the drop so far suggests Washington is making progress towards its goal of curtailing shipments to below 1 million bpd from May. The United States, seeking to avoid an increase in oil prices, granted sanctions waivers to China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea that allowed them to keep buying some Iranian crude. Those exemptions expire in May and analysts expect a new round to be less generous. The U.S. government is considering more sanctions against Iran and has the ability not to give waivers at all, a senior Trump administration official said this month. "We think there are very high chances that China and India and perhaps Turkey will receive (fresh) waivers, but with further cuts," said Sara Vakhshouri of energy consultant SVB Energy International. There is no definitive figure on how much oil Iran exported in March. Shipments have become more opaque since sanctions returned, and Iran no longer reports its production figures to the Organization of the Petroleum Exporting Countries. One of the two companies that tracks shipments estimated Iran exported 1.1 million bpd of crude last month, while the other company put the number at 1.3 million bpd. Kpler, another company that tracks Iranian exports, estimated March shipments of crude and condensate at 1.29 million bpd. Still, there is general agreement that crude shipments have dropped from at least 2.5 million bpd in April 2018, the month before U.S. President Donald Trump withdrew the United States from the nuclear deal with Iran. Tehran has vowed to keep exporting oil despite U.S. efforts to reduce its shipments eventually to zero.  
Newsitem placed in category: ECONOMY AND FINANCE

The Apple-Qualcomm Courtroom Showdown Kicks Off


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Tue, 04/16/2019 - 16:56 - [CET]
Trial arguments in the legal battle between Apple and Qualcomm are to begin Tuesday with lawyers likely to trade barbs over how royalties are collected on innovations in phone technology.
Newsitem placed in category: ECONOMY AND FINANCE

Libstar to drive in-depth analysis, new product innovation at Dickon Hall Foods facility


Reported to us by: Engineering News - Tue, 04/16/2019 - 16:54 - [CET]
Amid a tough customer landscape, food and beverage producer Libstar Group intends to drive in-depth analysis of category gaps and new product innovation – particularly through its Southdale-based Dickon Hall Foods facility – this year to increase its customer relationship advantage and develop additional channels. Under the Libstar umbrella of innovation, the company intends to allocate significant capital to new technologies, efficiency improvements and integration opportunities, as well as capacity expansion in key categories.
Newsitem placed in category: ECONOMY AND FINANCE

Bank of America's stock falls toward biggest one-day, post-earnings decline in 4 years


Reported to us by: MARKETWATCH - Tue, 04/16/2019 - 16:42 - [CET]

Bank of America Corp.'s stock slumped 2.5% in morning trade Tuesday, enough to pace the SPDR Financial Select Sector ETF's decliners, after the bank's downbeat full-year outlook on net interest income, and after a first-quarter profit beat but revenue miss. The stock is on track to suffer the biggest one-day, post-earnings decline since Jan. 15, 2015, when the stock dropped 5.2% after BofA reported fourth-quarter 2014 earnings and revenue that missed expectations, according to data provided by FactSet. The stock has lost 2.8% over the past 12 months, while the financial sector ETF has slipped 1.9% and the S&P 500 has gained 8.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Brand SA appoints Thulisile Manzini acting CEO


Reported to us by: Engineering News - Tue, 04/16/2019 - 16:33 - [CET]
Brand South Africa has appointed Thulisile Manzini acting CEO. This follows the suspension of CEO Dr Kingsley Makhubela, owing to a number of charges being pursued in a disciplinary process.
Newsitem placed in category: ECONOMY AND FINANCE

Technology companies lead early gains for US stocks


Reported to us by: ABC Business - Tue, 04/16/2019 - 16:29 - [CET]
Stocks are higher on Wall Street in early trading, erasing the market's modest losses from a day earlier
Newsitem placed in category: ECONOMY AND FINANCE

James Murdoch Is Investing His Fortune. One Bet: Comic Books.


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Tue, 04/16/2019 - 16:25 - [CET]
James Murdoch is looking to take some of his proceeds from the sale of 21st Century Fox assets to invest in a comic-book publisher called Artists, Writers and Artisans.
Newsitem placed in category: ECONOMY AND FINANCE

Steel demand growth rates to moderate in line with slowing global economic growth


Reported to us by: Engineering News - Tue, 04/16/2019 - 16:23 - [CET]
Global steel demand is expected to increase by 1.3% year-on-year to 1.74-billion tonnes this year, the World Steel Association’s (worldsteel’s) ‘April 2019 Short Range Outlook’ shows. Demand is projected to grow by a further 1% in 2020 to 1.75-billion tonnes, the association added.
Newsitem placed in category: ECONOMY AND FINANCE

E.L.F. Beauty shares rise after upgrade based on added shelf space at Target


Reported to us by: MARKETWATCH - Tue, 04/16/2019 - 16:22 - [CET]

E.L.F. Beauty Inc. shares rose 3.2% in Tuesday trading after it was upgraded to buy from neutral at D.A. Davidson based on store checks that show the brand has added shelf space at Target Corp. . E.L.F. occupies 17% more real estate at the retail chain, becoming the number three brand ahead of CoverGirl, part of the Coty Inc. portfolio. The top Target brand is Maybelline followed by L'Oreal. D.A. Davidson analysts think the growth at Target indicates that E.L.F. will add shelf space at U.S. drugstore chains as well. In February, E.L.F. announced that it was shutting all 22 of its own stores. E.L.F. shares have soared 46.8% over the last three months, outpacing the S&P 500 index which is up 11.3% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Auto Makers Could Face Hefty Losses Meeting China's Electric-Vehicle Mandate


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Tue, 04/16/2019 - 16:17 - [CET]
Auto makers in China struggling to build enough electric vehicles to satisfy a government mandate are facing the prospect of heavy losses—whether or not they succeed in hitting the official targets.
Newsitem placed in category: ECONOMY AND FINANCE

CFPB has too much flexibility in assessing fines


Reported to us by: AMERICAN BANKER - Tue, 04/16/2019 - 16:13 - [CET]
The bureau should adopt a clear, consistent framework for determining civil money penalties against financial firms.
Newsitem placed in category: ECONOMY AND FINANCE

Caesars names veteran of Vegas Strip as new CEO


Reported to us by: ABC Business - Tue, 04/16/2019 - 16:05 - [CET]
Caesars names Tony Rodio as CEO with activist investor Icahn pushing for change
Newsitem placed in category: ECONOMY AND FINANCE

CBA to reimburse staff millions in botched pay


Reported to us by: Sydney Morning Herald - Business - Tue, 04/16/2019 - 16:01 - [CET]
The Commonwealth Bank will reimburse millions of dollars to about 8000 staff after underpaying wages and other entitlements due to errors in its systems.
Newsitem placed in category: ECONOMY AND FINANCE

Blackmores' China remedy will take time before profit health improves


Reported to us by: Sydney Morning Herald - Business - Tue, 04/16/2019 - 16:00 - [CET]
Marcus Blackmore is disarmingly frank when it comes to admitting the mistakes vitamin maker Blackmores has made.
Newsitem placed in category: ECONOMY AND FINANCE

Office investment hits $6.2 billion in first quarter


Reported to us by: Sydney Morning Herald - Business - Tue, 04/16/2019 - 16:00 - [CET]
Investors have pumped more than $6 billion into national office markets in the first three months of this year
Newsitem placed in category: ECONOMY AND FINANCE

Charter Hall extends Bunnings fund's life


Reported to us by: Sydney Morning Herald - Business - Tue, 04/16/2019 - 16:00 - [CET]
Charter Hall investors have voted to extend the life of its direct trust.
Newsitem placed in category: ECONOMY AND FINANCE

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