Archive for August, 2015

Massive gas find promises to ease Egypt's fuel crisis

August 31st, 2015

Massive gas find promises to ease Egypt's fuel crisis

In this Saturday, Aug. 29, 2015 photo provided by Egypt's state news agency MEAN, Eni CEO Claudio Descalzi, third left, and his delegation meet with Egyptian President Abdel-Fattah el-Sissi, center, and an Egyptian delegation, in Cairo, Egypt. The Italian energy company Eni SpA announced Sunday, Aug. 30, 2015, it has discovered a "supergiant" natural gas field off Egypt, describing it as the "largest-ever" found in the Mediterranean Sea. Eni said the discovery — made in its Zohr prospect "in the deep waters of Egypt" — could hold a potential 30 trillion cubic feet of gas over an area of 100 square kilometers (38.6 square miles). (MEAN via AP)CAIRO (AP) — The discovery of a huge gas field off Egypt's coast promises to ease a long-running fuel crisis and boost the economy after years of unrest, but it will take years to develop and won't bring Gulf-style riches to the Arab world's most populous country, experts said Monday.

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Economy News Headlines – Yahoo! News

Wall Street's worst month in three years ends on a sour note

August 31st, 2015

Wall Street's worst month in three years ends on a sour note

Traders work on the floor of the New York Stock Exchange shortly before the closing bell in New YorkFed Vice Chairman Stanley Fischer on Saturday said U.S. inflation would likely rebound as pressure from the dollar fades, allowing the Fed to raise interest rates gradually. Many analysts took Fischer's comments as a sign the Fed would raise rates in September, instead of December. "What you see in the market today is caused by Fischer's comments over the weekend.

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Stock Markets News Headlines – Yahoo! News

Wall Street pares some early losses as oil prices rally

August 31st, 2015

Wall Street pares some early losses as oil prices rally

Traders work on the floor of the New York Stock Exchange in New YorkWall Street pared some of its early losses in afternoon trading on Monday as energy stocks gained after oil prices rallied sharply. Crude prices jumped after data indicated surprise cuts to U.S. oil production and as OPEC said it was ready to talk to other producers about the recent drop in prices. The S&P energy index reversed course and was up 1.05 percent — on track for its best four-day gain in seven years — boosted by ConocoPhillips , Schlumberger and Phillips 66 .

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Stock Markets News Headlines – Yahoo! News

UPDATE 4-Brazil forecasts 2016 deficit, increases pressure on Congress

August 31st, 2015

UPDATE 4-Brazil forecasts 2016 deficit, increases pressure on Congress
BRASILIA, Aug 31 (Reuters) – The Brazilian government on Monday revised its primary budget forecast for next year from a surplus to deficit, increasing pressure on a rebellious Congress to help shore…


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Reuters: US Dollar Report

Brazil's 2016 budget bill estimates revenue of 1.4 tln reais

August 31st, 2015

Brazil's 2016 budget bill estimates revenue of 1.4 tln reais
BRASILIA, Aug 31 (Reuters) – Brazil’s 2016 budget bill estimates total revenue of 1.4 trillion reais ($387 billion), net revenue of $1.180 trillion reais and total expenditures of $1.210 trillion…


Source
Reuters: US Dollar Report

The Restaurant With No (Visible) Workers

August 31st, 2015

The Restaurant With No (Visible) Workers

A new highly automated restaurant opening in San Francisco looks to speed service through efficiency. You won’t see any people taking your order or serving you at eatsa, a fast-casual quinoa eatery.

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Economy : NPR

U.S. Treasury Holds Public Forum On $10 Bill Redesign

August 31st, 2015

U.S. Treasury Holds Public Forum On $10 Bill Redesign

A woman will likely be on the $10 bill by 2020, but which one? The U.S. Treasury held a forum in Seneca Falls, N.Y., Monday to get the public’s input.

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Economy : NPR

What Do Low Oil Prices Mean For Unconventional Extraction Methods?

August 31st, 2015

What Do Low Oil Prices Mean For Unconventional Extraction Methods?

NPR’s Robert Siegel interviews Barbara R. Shook, senior reporter-at-large at the Energy Intelligence Group, about how low oil prices need to go to make “unconventional oil” extraction too expensive.

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Economy : NPR

Oil Market Bust Yields Unexpected Boom For Texas Repo Men

August 31st, 2015

Oil Market Bust Yields Unexpected Boom For Texas Repo Men

The price of oil has dropped to its lowest point in years in recent weeks. That’s meant layoffs and people falling behind on payments for the fancy vehicles they bought during the good times.

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Economy : NPR

US stocks close out their worst month in 3 years

August 31st, 2015

US stocks close out their worst month in 3 years

In this Monday, Aug. 24, 2015, photo, pedestrians walk past the New York Stock Exchange. Global stocks mostly fell on Monday, Aug. 31, 2015, after a U.S. Federal Reserve official suggested a September interest rate hike still was possible and weak Japanese factory activity provided more evidence of a sluggish global economy. (AP Photo/Seth Wenig)NEW YORK (AP) — The stock market is closing out its worst month in more than three years on a down note.

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Stock Markets News Headlines – Yahoo! News