Monthly Archives: August 2017

UPS, FedEx resume operations in some parts of storm-battered Texas By Reuters

© Reuters. A United Parcel Service logo is seen on a car in center of Warsaw By Eric M. Johnson (Reuters) – United Parcel Service Inc (N:) and FedEx Corp (N:) said they resumed flights at Houston’s main airport on Thursday afternoon and restarted some Texas operations crippled by Hurricane Harvey. UPS (N:), the world’s largest package delivery company, has restored service to more than 150 zip codes in Texas over the last 24 hours though operations remained at a standstill in storm-battered Houston and other Gulf […]

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Euro zone inflation rises more than expected in August By Investing.com

© Reuters. Euro zone flash annual inflation increases to 1.5% vs. 1.4% forecast Investing.com – Consumer price inflation (CPI) in the euro zone climbed more than expected in August, official preliminary data showed on Thursday. In a report, Eurostat said rose by a seasonally adjusted 1.5% in August, above expectations for an increase of 1.4% and compared a final reading of a 1.3% advance in the prior month. That was its highest level since April of this year. According to Eurostat, and looking at the main components […]

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U.S. judge strikes down Obama administration overtime pay rule By Reuters

© Reuters. Workers use a time clock at an Amazon Fulfillment Center, ahead of the Christmas rush, in Tracy, California By Daniel Wiessner (Reuters) – A federal judge in Texas on Thursday struck down an Obama administration rule that would have extended mandatory overtime pay to more than 4 million U.S. workers, siding with business groups and 21 states that had challenged it. The decision came after the same judge last year blocked the rule from taking effect pending his final decision. The Trump administration had already […]

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Brazil consumers drive recovery as investment lags By Reuters

© Reuters. FILE PHOTO: Consumers shop at a supermarket in Sao Paulo By Bruno Federowski SAO PAULO (Reuters) – Brazilian policymakers and economists have for years promised that a surge in corporate investment would lift Latin America’s largest economy out of its worst recession. Investors are not buying it. While consumers are loosening their purse strings, Brazilian companies must deal with heavy debt loads and employ idle capacity before they boost investment in new machines or facilities, economic data shows. Instead the economic recovery has some investors […]

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Latin America looks to Venezuelan fuel cargoes as Harvey swamps U.S. By Reuters

© Reuters. FILE PHOTO: Clouds from Hurricane Harvey are seen in the background as smoke rises from a burn off at an oil refinery in Corpus Christi By Marianna Parraga HOUSTON (Reuters) – After Hurricane Harvey roared into Texas, flooding oil refineries and crippling ports along U.S. Gulf Coast, Latin American countries scouring the globe for other sources of fuel are zeroing in on a flotilla waiting to unload off the coast of Venezuela. Almost no fuel tankers have sailed from Texas for Latin America in six […]

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Will Nonfarm Payrolls Make Or Break The Dollar?

By Kathy Lien, Managing Director of FX Strategy for BK Asset Management. Throughout this past week we have expressed our skepticism about the ’s rally. Investors were hoping for a major tax-reform announcement from President Trump (it didn’t happen) and were satisfied with the administration’s relatively benign response to North Korea’s missile launches. However NK hasn’t officially backed down and the Trump Administration has gone ahead and escalated tensions with Russia by ordering the closure of 3 Russian diplomatic facilities in the U.S. So unfortunately, geopolitical tensions, […]

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Crude oil settles higher but posts nearly 6% loss in August By Investing.com

© Reuters. Crude oil fell nearly 6% in August Investing.com – Crude futures settled higher on Thursday, but ended the month in negative, following concerns over an uptick in crude supplies after floods knocked out nearly a third of US oil refineries. On the New York Mercantile Exchange for October delivery rose $1.27 to settle at $47.23 a barrel, while on London’s Intercontinental Exchange, added $2 to trade at $52.73 a barrel. Nearly a week after Storm Harvey first made landfall in the U.S. oil heartland of […]

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