• America's biggest banks pass post-crisis stress tests

    America's biggest banks pass post-crisis stress tests

    Stress tests are simulations regulators run to gauge a bank's ability to weather a downturn. "This year's results show that, even during a severe recession, our large banks would remain well capitalized", said Fed Governor Jerome Powell. Strong numbers show banks have learned how to position their portfolios to pass tests, and not necessarily lend as much as possible, said Karen Shaw Petrou, managing partner at Federal Financial Analytics Inc.

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  • Cosby jury hunkers down for 3rd day in sex assault case

    Cosby jury hunkers down for 3rd day in sex assault case

    The judge praised them for being remarkably conscientious as they consider three counts of felony aggravated indecent assault that could put Cosby in prison for the rest of his life. Constand take the stand. It is suspected that Cosby may have given her a stronger pill, perhaps the Quaaludes which he had admitted to obtaining in the 70s with the intention of giving to women with whom he meant to have sex, according to the Associated Press.

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  • Iraq Sends Millions of Barrels of Oil to US While Saudis Cut

    Data from the U.S. Energy Information Administration showed that domestic-crude supplies fell by 1.7 million barrels for the week ended June 9. Sign up now and get breaking news alerts delivered to your inbox. If OPEC stands pat, putting hope over past experience, then the price of crude (which is down 13 percent since late May) could drop further, perhaps much further.

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  • Uber board member resigns after sexist comment

    Uber board member resigns after sexist comment

    How we got here: Former Uber engineer Susan Fowler Rigetti published a blog post detailing sexual harassment and discrimination she experienced during her year at the ride-hailing company. Apparently, fellow board member Ariana Huffington was talking about the benefits of adding more women to Uber's board, at which point Bonderman interrupted her to say that having more women around would make it "much more likely there'll be more talking".

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  • Trump Expected To Restrict Trade, Travel With Cuba

    The timing for the announcement is still worked upon, according to the White House . The White House is also considering setting new restrains on American leisure trips to Cuba, which has multiplied since Obama's 2014 announcement. Any additional restrictions on travel "will go over like a lead balloon, and it should", Flake said in an interview on Monday. Medical advances in Cuba are now being furthered in American labs.

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  • GE CEO Immelt stepping down, Flannery to take over role

    GE CEO Immelt stepping down, Flannery to take over role

    The replacement of Immelt is marked by some vocal investor dissatisfaction. In the role since the early 2000s, Immelt will remain as a Chairman at the company whilst John Flannery is set to take over as CEO. "The market didn't want to give Immelt any credit for those investments because so numerous things in the past haven't worked out". With extreme competence, and a talent for bringing out the best in people, Immelt steered the company through events such as Sep.

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  • Stockpile Hike Leads to Plunging Oil Prices

    At 513.2 million barrels, USA crude oil inventories are in the upper half of the average range for this time of year, the EIA said Wednesday. USA light crude prices CLc1 were at $47.69 per barrel, down 50 cents. Traders believe that the reduction in production of oil by OPEC member countries is one of the reasons why prices are going up. In essence, OPEC will continue to reduce output by 1.2 million barrels per day until March 2018.

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  • Uber chief Travis Kalanick 'set for a bumpy ride' in board meeting

    Additionally, the board also discussed the possible departure of some of Kalanick's top executives like business chief Emil Michael . According to sources speaking with the New York Times , the question of whether Kalanick should take a leave of absense rests in the hands of Garrett Camp, Uber's chairman, and board member Ryan Graves.

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  • Trump Organization Introduces Budget Hotel Chain Called 'American Idea'

    Trump Organization Introduces Budget Hotel Chain Called 'American Idea'

    Chawla Hotels now owns 17 hotels. Aptly named, it all started with an idea and has developed into three signed agreements for American IDEA properties in the Mississippi Delta area. Eric Trump also acknowledged that he planned to watch fired FBI Director James Comey's testimony in front of the Senate Intelligence Committee on Thursday.

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  • Dow, S&P little changed as job growth slows in May

    Dow, S&P little changed as job growth slows in May

    The S&P 500 gained 18.26 points, or 0.76 percent, to 2,430.06. Investors instead focused on a report from ADP that showed the US added 253,000 private-sector jobs in May. The May jobs report showed unemployment fell to 4.3 per cent, a 16-year low. Oil majors Exxon (XOM.N) and Chevron (CVX.N) were down about 0.5 percent.

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  • US job market looks solid 8 years after recession ended

    Total nonfarm payroll employment increased by 138,000 in May, compared with an average monthly gain of 181,000 over the prior 12 months. "I wouldn't worry too much about monthly payrolls", Jim O'Sullivan, chief United States economist at High Frequency Economics in Valhalla, New York , said before the report.

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  • OPEC Agrees to Cut Production, Market Skeptical of Supply Glut Diminishing

    OPEC Agrees to Cut Production, Market Skeptical of Supply Glut Diminishing

    Amrita Sen , co-founder and chief oil analyst at Energy Aspects , told Reuters that "OPEC oversold the meeting to the market way too early" - referring to hints prior to OPEC's May 25 meeting that the cartel might also deepen supply cuts, extend them by as long as 12 months, curtail exports, and tell the market how exactly it would terminate supply curbs in 2018 - all of which raised market expectation much higher.

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  • Department Of Justice And EPA Sue Fiat Chrysler Over Diesel Emissions

    Department Of Justice And EPA Sue Fiat Chrysler Over Diesel Emissions

    The complaint exposes Fiat to up to $4.6 billion in fines and covers 2014-16 model years of Jeep Grand Cherokees and Ram 1500 EcoDiesel pickups. that are much higher than the EPA-compliant level". The Department of Justice sued Volkswagen over the "defeat devices". Fiat Chrysler CEO Sergio Marchionne vehemently denied the accuracy of these accusations, commenting that drawing such a comparison is "absolute nonsense".

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  • Softbank-Saudi tech fund becomes world's biggest with $93 bln of capital

    Softbank-Saudi tech fund becomes world's biggest with $93 bln of capital

    A number of investment firms and tech companies including Mubadala Investment Company of the United Arab Emirates, Apple Inc., Foxconn Technology Group, Qualcomm Inc., and Sharp Corp committed to the joint tech fund. The Vision Fund will allow the billionaire Son to cut even more ambitious deals than he's been able to do with his highly leveraged company. The visit was coordinated to take place before the first presidential overseas trip by Trump, who is now in Saudi Arabia.

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  • Checking the Overall Picture for Spirit Realty Capital, Inc. (SRC)

    The SMA or Simple Moving Averages are commonly available for 20 Day, 50 Day and 200 Day Simple Moving Averages . Capital Fund Management S.A. increased its stake in shares of Spirit Realty Capital by 117.0% in the third quarter. The relative volume of the stock is 1.75, while its market cap is $3.54 Billion. WFG Advisors LP now owns 11,790 shares of the real estate investment trust's stock worth $264,000 after buying an additional 9,090 shares in the last quarter.

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  • Cricket Legend Meets PM Modi Ahead Of Movie Release

    Cricket Legend Meets PM Modi Ahead Of Movie Release

    While talking about the film, Sachin said, "Being a private person, I did not want to say yes to this project, therefore, it took me nearly eight months to get convinced". Sachin also speaks about achieving his dream of lifting the World Cup and says that he had to wait 22 years for the goal to be achieved, There were 5 World Cups in between, he added.

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  • Mortgage rates retreat amid political turmoil in Washington

    Because mortgage rates tend to follow the same path as long-term bonds, it is likely that rates will continue to fall in the coming week. Sean Becketti, chief economist at Freddie Mac , forecast more rate declines were on the way. A year ago at this time, the 5-year ARM averaged 2.80 percent. While the White House scandal was the catalyst for a measurable drop in the past couple days, mortgage rates had already moved a bit lower thanks to a slower than expected rise in consumer prices.

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  • Drilling Down Into Salesforce.com, inc. (CRM)

    Drilling Down Into Salesforce.com, inc. (CRM)

    JNBA Financial Advisors increased its position in shares of salesforce.com, inc.by 9.3% in the fourth quarter. Stock has got outperform rating from no analyst of Thomson Reuters whereas 1 analyst given hold rating to the stock. In other news, CFO Mark J. Hawkins sold 8,624 shares of the business's stock in a transaction that occurred on Monday, March 27th. Allanson Joe sold $48,700 worth of stock or 657 shares.

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