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Likely Extension Of Oil Supply Cuts Signaled By Saudi Arabia And Kuwait

The clearest signal yet that OPEC plans to extend into the second half of the year a deal with non-OPEC producers to curb oil supplies was given out by leading Gulf oil producers Saudi Arabia and Kuwait.   Saudi Energy Minister Khalid al-Falih said on Thursday that even though there is as...

Yearning For Immigrants Is The Most Closed-Off Nordic Nation

For years, Danish governments have been keeping a tight lid on immigration under pressure from nationalists.   But the case that more foreign workers are needed is being made far more important after the Finance Ministry of the country that made global headlines by confiscating...

Price And Local Chinese Manufacture To Be The String Points As China EV Makers Take On Tesla's Model 3

In order to go head-to-head against Tesla Inc's "mass market" Model 3 sedan, Chinese-funded, smart, connected plug-in car start-ups are scrambling to launch cars even though it's not due to arrive in China until next year.   The key is that they will produce their cars locally, making them...

Washington Urged To 'Use Every Arrow' Against China By U.S. Business Group

Warning that 2017 could be the toughest year in decades for American firms in the country, a U.S. business lobby said on Tuesday that in order to ensure a level commercial playing field in China, the United States should "use every arrow" in its quiver.   The American Chamber of Commerce in...

NSA Tools For Breaching Global Money Transfer System Shown By Hacker Documents

A blueprint of how the U.S. National Security Agency likely used weaknesses in commercially available software to gain access to the global system for transferring money between banks was shown by a review of the data, documents and computer files released by hackers, reported Reuters.  ...

Billions Of Dollars Of Unfinished Projects To Be Shelved, Reformed By Saudi Arabia: Reuters

With a view to shelving or restructuring them, review billions of dollars' worth of unfinished infrastructure and economic development projects has been ordered by Saudi Arabia's government to its ministries and agencies, reported Reuters citing government sources.   Reuters reported quoting...

Battered Retail, Biotech Shares Are Being Chosen By 'Trump Trade' Winners

Beaten-down sectors such as retail, apparel or biotech are being chosen in place of "Trump Trade" bets on financial and infrastructure stocks by some of the actively managed funds that have performed the best since the Nov. 8 presidential election.   Due to growing doubts the new...

Supplier Alliances Getting Complicated with Self Driving ‘Arms Race’

By replacing traditional top-down manufacturing relationships with complex webs of alliances and acquisitions, the race to develop and exploit autonomous vehicle technology is reshaping the hierarchy of the automotive industry.   The rapid transition of self-driving vehicles from research...

Even As Uncertainty Weighs, World Trade Seen Growing 2.4 Percent In 2017: WTO

The World Trade Organization (WTO) said on Wednesday that though there is "deep uncertainty" about economic and policy developments, particularly in the United States, world trade is on track to expand by 2.4 percent this year.   While making a general appeal to resist protectionism, more...

Global Glut Forces Framers Across The Globe To Pile Grain In Runways, Parking Lots And Fields

Farmers in Iowa, US are stuffing storage bins with corns and risking potential crop damage from the elements than pay the exorbitant cost of storage elsewhere as well as selling the crops because prices have hit the rock bottom.   Years of bumper crops and low prices have overwhelmed storage...

As IT 'Cowboys' Ride Into Sunset, Banks Scramble To Fix Old Systems

75 year old Bill Hinshaw is a member of a dwindling community of IT veterans who specialize in a vintage programming language called COBOL and he first got into computer programming in the 1960s when computers took up entire rooms and programmers used punch cards.   Newer, more versatile...

Shale Makes It Even Harder To Predict Whether There Will Be Oil Surplus Or Scarcity

Traditional supply dynamics have been upended and forecasts have been made far more polarized by the shale oil boom which has transformed the U.S. and global energy sector.   Warnings that huge spending cuts caused by a plunge in oil prices since 2014 would lead to a supply crunch in the...
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