Finance


IMF nominates managing director Lagarde for second term

International Monetary Fund governors and executive directors had until 11:59 pm NY time on Wednesday to nominate candidates to replace Lagarde, whose five-year term expires on July 5. The former French finance minister has led the worldwide body sin...

Eureka! Scientists detect gravitational waves, prove Einstein right!

Reitze compared the impact of the discovery to Galileo's invention of the telescope. "This was truly, I think, a scientific moonshot", Reitze said at a news briefing at the National Press Club in Washington. It was the exact way Einstein had pred...

Oil buoyed again by hopes over possible Russia-OPEC meetings

US crude futures (CLc1) rose $1.96, or 6.5 percent, to $31.84, after touching a high of $31.95. Moscow has softened its stance on a co-ordinated production cut as the unprecedented price rout begins to bite for its beleaguered economy. Gasoline inv...

Yellen: Too early to determine impact of global developments

She sought to calm concerns, however, by saying that "recent economic indicators do not suggest a sharp slowdown in Chinese growth". Yellen apparently "very much expects further gradual hiking this year, although she was careful to stay data depend...

Fed's Yellen says there is a 'chance' of a recession

The possibility of negative rates is "something that, in light of European experience, we will look at, we should look at - not because we think there is any reason to use it, but to know what could potentially be available". However, she said, "it's...

Twitter Inc (TWTR) Price Target Lowered to $21.00 at Goldman Sachs

It follows a catastrophic three months in which the company has lost half its value. The stock is down 4.54% or $0.68 after the news, hitting $14.3 per share. The social network reported better-than-expected adjusted earnings for the fourth quarter...

Mortgage rates fall for sixth straight week, Freddie Mac says

The average 10-year fixed-rate mortgage to 75% LTV fell 70 basis points to 3.34% over the year to November, the latest date for which Bank figures are available. He noted that mortgage rates have dropped 0.36 percentage points, while the yield on a 1...

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Breaking News

Oil prices increase as Texas refineries start returning to normal

Gasoline for October RBV7, -1.14% fell 1.4% to $1.68 a gallon on Wednesday. The two pipelines transport around 675,000 barrels per day (bpd) of West Texas crude oil into East H...

Energy Secretary: US gas prices will rise in Storm Harvey's wake

Additionally, Indian Oil says demand is strong enough for refiners that do not export to stick to domestic markets and enjoy cheaper feedstock and higher fuel prices . "As the pip...

Hurricane fuels spike in Greater Lowell gas prices

The gasoline supply issues could reduce inventories on the East Coast, causing prices to rise further, Zachary Rogers, a refining and oil products analyst at Wood Mackenzie Ltd...

People need to consider flood insurance

For reinsurance companies, Fitch expects that the insured loss from the storm will fall within primary players retention levels under catastrophe programs, with perhaps a small p...

Tropical disturbance brushes NC coast, heading out to sea

Heavy rain is expected to be the main hazard. Monday: Rain and thunderstorms linger in Florida and spread into eastern North Carolina and eastern Virginia. There is a 10- to 20...

Disturbance To Pelt North Carolina Coast With Rain, Gusty Wind

A weather system off Africa that's being monitored by the National Hurricane Center is likely to develop as it approaches the eastern Atlantic Ocean, forecasters said Tuesday. Fo...

Tropical storm warning posted for part of North Carolina

The storm system that could become Irma was expected to track up the mid-Atlantic coast Tuesday before moving out to sea Wednesday . We'll see a nice mix of sun and clouds. It is ...

Disturbance To Pelt North Carolina Coast With Rain, Gusty Wind

A weather system off Africa that's being monitored by the National Hurricane Center is likely to develop as it approaches the eastern Atlantic Ocean, forecasters said Tuesday. Fo...

A Tropical Storm is Developing Northeast of Jacksonville

As always, there's the chance we could see a very unsafe storm come our way before the season is over - remember, Hugo, the Historic Floods of 2015 and Hurricane Matthew all occur...

Coastal Storm Bringing Rain & Wind to NC Coast

Harvey brought catastrophic flooding to Texas . As of this writing, rain is already spreading northward through the Garden State, with heavier rain expected later on. Sunday n...

Special Reports

Lee jailed for 5 years in bribery case

Lee jailed for 5 years in bribery case

Lee had been spearheading the country's biggest conglomerate with 350 trillion won ($310.1 billion) in assets as its father and chairman Lee Kun-hee has fallen into a coma in 2014 ...

Floyd Mayweather to Fight Conor McGregor in Lighter Gloves

Floyd Mayweather to Fight Conor McGregor in Lighter Gloves

One point articulated by Marnell, which every other commission member echoed, is that referee selection is the most important factor in fighter health and safety, particularly in a...

Reliance Disruption: Jio Launches A Zero Priced Feature Phone

Reliance Disruption: Jio Launches A Zero Priced Feature Phone

In addition to Reliance Jio , Bharti Airtel, Idea Cellular, Vodafone, Reliance Communications, and BSNL are looking for enhancing their mobile Internet reach. It comes with an A...

Venus Williams vs Jelena Ostapenko

Venus Williams vs Jelena Ostapenko

Williams became the oldest woman to reach the Wimbledon quarterfinal since 1994 with a rock-solid performance on Centre Court. Williams will next face either second-seeded Sim...

June job growth was a healthy 222000 . . . but we can do better

June job growth was a healthy 222000 . . . but we can do better

The US economy added 222,000 jobs in June, according to the Bureau of Labor Statistics . Even with 2,000 jobs added this past month, the legal industry has seen a lot of cuts to...

Why Amazon Bought Whole Foods

Why Amazon Bought Whole Foods

The question for many other grocery stores might wonder if they're perishable. In working toward becoming an industry leader in staple industries such as food & beverage, Amazon...

Trump calls House health bill he backed 'mean'

Trump calls House health bill he backed 'mean'

That House bill was widely criticized for letting states seek waivers from insurance protections for people with pre-existing conditions. In other words, Senate Republican leadersh...

Whole Foods customers react to $13.7 billion Amazon merger

Whole Foods customers react to $13.7 billion Amazon merger

Charlie O'Shea, a Moody's lead retail analyst, told the Associated Press news agency that the deal could be "transformative, not just for food retail, but for retail in general"....

Oil hits the lowest since November as over-supply glut continues

Oil hits the lowest since November as over-supply glut continues

USA inventories fell less than forecast last week, keeping supplies more than 100 million barrels above the five-year average, according to data from the Energy Information Admi...