Oil at $50: Where Is the Crude Market Headed Next?
HONG KONG—Oil’s rise above $50 a barrel Thursday for the first time in six months is a landmark for the market, but analysts appear to have no better idea as to how long this year’s crude rally might last. Brent crude futures, used to price much of the world’s oil, rose as much as 39 cents, or 0.8%, to $50.13 a barrel during Asian trading hours, their highest level since November. West Texas Intermediate, the U.S. benchmark, was...>> view originalCalifornia cap-and-trade auction falls far short, delivering blow to state revenue and bullet train financing
The latest auction in California’s cap-and-trade market for greenhouse gases fell sharply below expectations, as buyers purchased just 2% of the carbon credits whose sale funds a variety of state programs -- notably, the proposed high-speed rail project.The quarterly auction, conducted May 18 and announced Wednesday, will provide just $10 million for state programs, including $2.5 million for the bullet train. The rail authority had been expecting about $150 million. The reason is unclear, but ..>> view originalZuckerberg to Demolish $30M in Real Estate to Keep Things Private
Facebook founder and COO Mark Zuckerberg is updating his privacy settings. In a move to prevent prying eyes from peeking into his $7 million Palo Alto residence, the billionaire has bought up four neighboring homes — at the cost of $30 million — just so that he can demolish them. A city planning application filed on Tuesday has revealed he intends to bulldoze the homes he purchased in 2013. The million-dollar homes will be replaced with smaller, lower-profile abodes that might not be so irks..>> view originalNikkei edges up in thin, choppy trade
TOKYO May 26 Japanese stocks were flat in thin, choppy trade on Thursday as indexes gave up earlier gains due to the yen's rising strength against the dollar, which curbed optimism over the profit outlook for exporters and other shares.The Nikkei share average edged up 0.1 percent to 16,772.46 for its highest close in nearly a month. Market players noted investors' lack of conviction in the absence of strong catalysts as Japan hosts a two-day G7 leaders' summit. Volume on the Tokyo Stock Excha..>> view originalCheap gas, lower airfares will spike summer travel
Cheap gas is fueling a summer rush, with 35 million people expected to travel this Memorial Day Weekend, t he unofficial start to summer.(Photo: JUAN BARRETO, AFP/Getty Images)More Americans appear poised to kiss the "staycation" goodbye this summer.With the coming of the Memorial Day holiday, more vacationers are likely to head out of town to take advantage of cheap gas, falling airfares and strong employment. After vacations being stuck at home, there are bigger incentives to hit the road.“Th..>> view originalDetermining Cause Of Power Outage May Take Days
SEATTLE (AP) — The Latest on a power outage affecting downtown Seattle (all times local): 3 p.m. A Seattle utility spokesman says it might take days to determine the cause of an hour-long power outage on Wednesday. Seattle City Light spokesman Tyson Lin says the outage impacted about 60 percent of downtown Seattle. Lin says no injuries were reported but the Seattle Fire Department had to perform 24 elevator rescues. A fire spokeswoman told The Associated Press that in each case, fire crews dete..>> view originalLOGISTICS: What Amazon means to Eastvale - Press
LOGISTICS: What Amazon means to Eastvale AMAZON'S RAPID RISEOctober 2012: Amazon opens a fulfillment center, its first in the area, in San Bernardino. August 2014: Fulfillment center in Moreno Valley begins operations. It has a 769,320-square-foot support facility is across the street. October 2014: Fulfillment center specializing in large items such as big-screen TVs and furniture opens in Redlands. November 2015: Rialto fulfillment center opens. April 2016: Amazon opens a second fulfil..>> view originalAnother investor criticizes Tribune's moves, but 2 more proxy advisors back its board
Another major Tribune Publishing investor is crying foul over the company's rejection of Gannett's buyout offer -- even as two more advisory firms weighed in to give the board cover against a possible shareholder lawsuit.In a letter sent Tuesday to Tribune's board, St. Louis investment firm Towle & Co. criticized as "disturbing developments" Tribune's decisions to turn down Gannett and bring L.A. billionaire Patrick Soon-Shiong on board as an investor. The letter echoed concerns raised last we..>> view originalMcDonald's Shuts Its Headquarters as Protesters Rally for $15 an Hour
Hundreds of protesters marched through pouring rain to call for higher wages and union rights at McDonald’s Corp on Wednesday, leading the hamburger chain to shut down its headquarters a day before its annual meeting. The suburban Chicago campus was shut for the third year in a row because of protests centered on the shareholder gathering, which will be on Thursday. The marchers are part of a larger U.S. movement for higher pay that, along with an improved economy, has spurred pay rises at comp..>> view original
Thursday, May 26, 2016
Oil at $50: Where Is the Crude Market Headed Next? and other top stories.
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