Global oil market rebalancing speeds up, inventories lag: IEA
LONDON The global oil market is rebalancing and the pace at which supply and demand are falling into line is picking up, even if inventories still fail to reflect the impact of OPEC supply cuts, the International Energy Agency said on Tuesday.In its monthly report, the IEA kept its global demand growth forecast for 2017 unchanged at 1.3 million barrels per day (bpd), because of slowdowns in previously robust consumer countries such as the United States, Germany and Turkey.Commercial inventorie..>> view originalBill Gates told new grads to read this book. Now it's surging on Amazon.
Bill Gates (Andrew Harrer/Bloomberg News) Since stepping down as Microsoft's chief executive in 2000, Bill Gates has seen his reputation transform from that of a hard-nosed businessman intent on shutting out the competition — which produced comparisons to oil magnate John D. Rockefeller — to that of a wise, inspiring philanthropist seeking to solve some of the world's toughest social challenges. Now, Gates regularly dispenses the wisdom he's gained over the years in an effort to get people ..>> view originalReports: Ford to cut 10% of global workforce
May 16, 2017 6:23 a.m. Updated Reports: Ford to cut 10% of global workforce By Keith Naughton and Elisabeth BehrmannBloomberg Mark Fields Ford Motor Co. plans to cut about 10 percent of staff worldwide as CEO Mark Fields faces escalating pressure to boost profit and a lagging stock price, the Wall Street Journal reported. The job cuts are expected to be outlined as early as this week and mostly target salaried employees, the newspaper said, citing ..>> view originalMillionaire to Millennials: Your avocado toast addiction is costing you a house
CLOSE The world's avocado supply has been spread super thin lately—and prices are soaring as a result. TimeToasts with tahini sauce and sliced avocado.(Photo: AlexPro9500, Getty Images/iStockphoto) Housing prices are the pits as far as most young people are concerned, but an Australian multi-millionaire has the answer for those first-time buyers out there: Put down the avocados."When I was trying to buy my first home, I wasn't buying smashed avocado for $19 and four coffees at $4 each,"..>> view originalUnited flight attendant reportedly posted cockpit access codes online
Codes used to access the cockpits of United Airlines flights were inadvertently made public this week, according to a report from The Wall Street Journal. Citing a pilot who was briefed on the matter, the Journal reported on Sunday that a United ...>> view originalSolarCity Founder and Former CEO Lyndon Rive Is Leaving Tesla
SolarCity founder Lyndon Rive, who steered the dramatic growth of the biggest U.S. residential solar company before driving its sale to Tesla, is leaving the electric vehicle maker in June, he said on Monday.In an interview, the former SolarCity chief executive said he wanted to start a new company next year and spend more time with his family. Rive had been serving as head of sales and services for Tesla's energy division since last year.Rive's responsibilities will be distributed among Tesla l..>> view originalHome Depot earnings, sales top Street estimates as shoppers flock to its stores
Home Depot just showed Wall Street how it can buck the latest negative trends in retail, reporting Tuesday that more shoppers visited its stores during the first quarter than what was anticipated. The retailer's earnings and revenue for the period topped analysts' expectations, and Home Depot also raised its fiscal 2017 profit outlook. Shares of the stock traded up near 2 percent in premarket hours following the report. Here's what the company reported vs. what the Street was expecting: Earni..>> view originalIf You Invested in Amazon at Its IPO, You Would Be a Millionaire Today
Investment titan Warren Buffett has good reason to regret not buying Amazon when it first went public -- as do most investors.Had the average Joe decided to save $5,000 and spend it on Amazon’s stock when it first hit the public markets 20 years ago, they be worth at least $2.4 million today.While those returns would have made the average Joe quite happy, $2.4 million would’ve hardly been noticeable in Buffett’s now $72 billion net worth. Moreover, the investor has typically made much larger inv..>> view originalSears sues Craftsman manufacturer to uphold their contract
Hoffman Estates-based Sears Holdings Corp. filed a lawsuit Monday accusing the manufacturer of its Craftsmen tools of attempting to break their supply agreement. The suit, filed in Cook County circuit court, said its agreement was signed in 2013 and remains in effect through 2018. But China-based One World, which has operations in South Carolina, has been attempting to break the contract and reduce Sears' supply because it said it has "inadequate assurance" that Sears will continue to pay for t..>> view originalBritain's inflation, fueled by Brexit and oil, drives higher ahead of election
LONDON British inflation hit its highest level since September 2013 last month, building on its sharp rise since the vote to leave the European Union and tightening the squeeze on living costs for households ahead of a national election on June 8.Consumer prices rose in April by an annual 2.7 percent, the Office for National Statistics said on Tuesday, and economists said inflation would climb further as the fall in the value of the pound since the Brexit vote pushes up the cost of imports.Eco..>> view original
Tuesday, May 16, 2017
Global oil market rebalancing speeds up, inventories lag: IEA and other top stories.
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