Iran warns ‘unilateralism’ between Saudi Arabia and Russia could lead to the death of OPEC

Iranian Oil Minister Bijan Zanganeh believes “unilateralism” among some OPEC members could ultimately lead to the death of the Middle East-dominated producer group. OPEC is set to debate an extension of oil production cuts when it meets on Monday, before getting the deal endorsed by non-members such as Russia on Tuesday. Russian President Vladimir Putin said over the weekend that the non-OPEC leader had agreed with Saudi Arabia to extend supply cuts by at least six months. Speaking to reporters


Iranian Oil Minister Bijan Zanganeh believes “unilateralism” among some OPEC members could ultimately lead to the death of the Middle East-dominated producer group. OPEC is set to debate an extension of oil production cuts when it meets on Monday, before getting the deal endorsed by non-members such as Russia on Tuesday. Russian President Vladimir Putin said over the weekend that the non-OPEC leader had agreed with Saudi Arabia to extend supply cuts by at least six months. Speaking to reporters
Iran warns ‘unilateralism’ between Saudi Arabia and Russia could lead to the death of OPEC Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: sam meredith
Keywords: news, cnbc, companies, unilateralism, zanganeh, cuts, months, iran, opec, oil, supply, russia, lead, death, production, arabia, warns, producer, saudi


Iran warns 'unilateralism' between Saudi Arabia and Russia could lead to the death of OPEC

Iranian Oil Minister Bijan Zanganeh believes “unilateralism” among some OPEC members could ultimately lead to the death of the Middle East-dominated producer group.

OPEC is set to debate an extension of oil production cuts when it meets on Monday, before getting the deal endorsed by non-members such as Russia on Tuesday.

Russian President Vladimir Putin said over the weekend that the non-OPEC leader had agreed with Saudi Arabia to extend supply cuts by at least six months. Meanwhile, Saudi Energy Minister Khalid al-Falih said Sunday that the deal would most likely be prolonged for nine months and no deeper cuts would be required.

Speaking to reporters in Vienna, Austria on Monday, Zanganeh said: “The important thing to me is that OPEC remains OPEC. It has lost its authority and it is on the verge of collapse.”

“Iran is not going to leave OPEC… But I believe OPEC is going to die if these processes continue,” Zanganeh said, referring to Russia-Saudi decision.

OPEC and its allies have been reducing oil output since 2017 to prevent prices from sliding amid soaring production from the U.S. — which has become the world’s top producer this year ahead of Russia and Saudi Arabia.

The U.S. is not a member of OPEC, nor is it participating in the supply pact. Washington has demanded Riyadh pump more oil to compensate for lower exports from Iran after slapping fresh sanctions on Tehran over its nuclear program.


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: sam meredith
Keywords: news, cnbc, companies, unilateralism, zanganeh, cuts, months, iran, opec, oil, supply, russia, lead, death, production, arabia, warns, producer, saudi


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OPEC set to extend oil production curbs after Iran endorses pact

OPEC and its allies looked set to extend oil supply cuts until at least the end of the year, after several members of the Middle East-dominated producer group endorsed a policy designed to support oil prices amid a weakening global economy. Iranian Oil Minister Bijan Zanganeh told reporters on Monday he had “no problem” with supporting oil supply cuts by six to nine months. “It is going to be an easy meeting as my stance is very clear,” Zanganeh told reporters in Vienna, Austria. OPEC is set to


OPEC and its allies looked set to extend oil supply cuts until at least the end of the year, after several members of the Middle East-dominated producer group endorsed a policy designed to support oil prices amid a weakening global economy. Iranian Oil Minister Bijan Zanganeh told reporters on Monday he had “no problem” with supporting oil supply cuts by six to nine months. “It is going to be an easy meeting as my stance is very clear,” Zanganeh told reporters in Vienna, Austria. OPEC is set to
OPEC set to extend oil production curbs after Iran endorses pact Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: sam meredith, eustance huang
Keywords: news, cnbc, companies, zanganeh, cuts, pact, iran, extend, endorses, opec, set, oil, supply, production, curbs, meeting, told, prices, vienna, producer, saudi


OPEC set to extend oil production curbs after Iran endorses pact

Khalid Al-Falih, Saudi Arabia’s energy and industry minister, arrives for the 15th Joint Ministerial Monitoring Committee (JMMC) meeting in Vienna, Austria, on Monday, July 1, 2019.

OPEC and its allies looked set to extend oil supply cuts until at least the end of the year, after several members of the Middle East-dominated producer group endorsed a policy designed to support oil prices amid a weakening global economy.

Iranian Oil Minister Bijan Zanganeh told reporters on Monday he had “no problem” with supporting oil supply cuts by six to nine months.

Tehran, which had been OPEC’s third-largest producer prior to the re-imposition of U.S. sanctions, has previously objected to policies put forward by arch-rival Saudi Arabia.

“It is going to be an easy meeting as my stance is very clear,” Zanganeh told reporters in Vienna, Austria.

OPEC is set to debate an extension of oil production cuts during its meeting on Monday, before getting the deal endorsed by non-members, such as Russia, on Tuesday.

The producer group and its allies have been reducing oil output since 2017 to prevent prices from sliding amid soaring production from the U.S. — which has become the world’s top producer this year ahead of Russia and Saudi Arabia.

The U.S. is not a member of OPEC, nor is it participating in the supply pact. Washington has demanded Riyadh pump more oil to compensate for lower exports from Iran after slapping fresh sanctions on Tehran over its nuclear program.

Oil prices rose sharply during early afternoon deals, with international benchmark Brent crude trading at $66.42 per barrel, up around 2.6%. Meanwhile, U.S. crude futures stood at $60.02 per barrel, more than 2.55 higher.


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: sam meredith, eustance huang
Keywords: news, cnbc, companies, zanganeh, cuts, pact, iran, extend, endorses, opec, set, oil, supply, production, curbs, meeting, told, prices, vienna, producer, saudi


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Tyson Foods unveils plant-based nuggets as it moves into meat alternatives

The nation’s biggest meat producer is plotting its entry into plant-based meat substitutes. Tyson Foods said Thursday it will debut plant-based nuggets this summer as part of a new brand, Raised & Rooted, that will sell plant-based and blended meat products. Beyond Meat, a former Tyson investment, previously sold plant-based chicken strips, but the company pulled the product from grocery store freezers earlier this year. Perdue Foods, another large meat producer, said Wednesday it will distribut


The nation’s biggest meat producer is plotting its entry into plant-based meat substitutes. Tyson Foods said Thursday it will debut plant-based nuggets this summer as part of a new brand, Raised & Rooted, that will sell plant-based and blended meat products. Beyond Meat, a former Tyson investment, previously sold plant-based chicken strips, but the company pulled the product from grocery store freezers earlier this year. Perdue Foods, another large meat producer, said Wednesday it will distribut
Tyson Foods unveils plant-based nuggets as it moves into meat alternatives Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: amelia lucas
Keywords: news, cnbc, companies, company, meat, moves, plans, tyson, alternatives, protein, plantbased, foods, companys, chicken, producer, unveils, nuggets


Tyson Foods unveils plant-based nuggets as it moves into meat alternatives

The nation’s biggest meat producer is plotting its entry into plant-based meat substitutes.

Tyson Foods said Thursday it will debut plant-based nuggets this summer as part of a new brand, Raised & Rooted, that will sell plant-based and blended meat products.

Tyson executives have been teasing the company’s move into meat alternatives since February, but this is the first time the meatpacker is revealing its plans to compete with the likes of Impossible Foods and Beyond Meat.

“We remain firmly committed to our growing traditional meat business and expect to be a market leader in alternative protein, which is experiencing double-digit growth and could someday be a billion-dollar business for our company,” CEO Noel White said in a statement.

The flexitarian diet is driving the growth of the market for meat alternatives, which Euromonitor expects will hit $22.9 billion globally by 2023. Nearly 60% of U.S. consumers are interested in eating less meat, according to Mintel.

Beyond Meat, a former Tyson investment, previously sold plant-based chicken strips, but the company pulled the product from grocery store freezers earlier this year.

Tyson’s imitation nuggets use pea protein in place of chicken. The company also plans to release a blended burger made with Angus beef and pea protein under the new brand.

The Springdale, Arkansas-based company said it plans to introduce more alternative protein products across its portfolio of brands and to food-service operators. The company’s Aidells brand already sells sausage and meatballs that blend chicken with plant-based ingredients.

Perdue Foods, another large meat producer, said Wednesday it will distribute new chicken nuggets, tenders and patties that blend meat with vegetables.

In addition to the new brand, Tyson has been investing in start-ups focused on alternative proteins. The company’s venture capital fund has invested in mushroom-based protein producer MycoTechnology and cultured meat producers Memphis Meats and Future Meat Technologies.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: amelia lucas
Keywords: news, cnbc, companies, company, meat, moves, plans, tyson, alternatives, protein, plantbased, foods, companys, chicken, producer, unveils, nuggets


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‘American Taliban’ John Walker Lindh released from prison after 17 years

– John Walker Lindh, an American captured with the Taliban in November 2001 just weeks after the US launched the war in Afghanistan, is to be released in May 2019 after 17 years in prison. John Walker Lindh, a Californian captured fighting alongside the Taliban in Afghanistan months after the Sept. 11, 2001, terrorist attacks, was released from federal prison Thursday after 17 years, cutting short his sentence by three years. A Federal Bureau of Prisons representative confirmed to CNBC that Lind


– John Walker Lindh, an American captured with the Taliban in November 2001 just weeks after the US launched the war in Afghanistan, is to be released in May 2019 after 17 years in prison. John Walker Lindh, a Californian captured fighting alongside the Taliban in Afghanistan months after the Sept. 11, 2001, terrorist attacks, was released from federal prison Thursday after 17 years, cutting short his sentence by three years. A Federal Bureau of Prisons representative confirmed to CNBC that Lind
‘American Taliban’ John Walker Lindh released from prison after 17 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: mike calia
Keywords: news, cnbc, companies, producer, walker, prison, internet, lindh, taliban, john, american, released, probation, 17, nbc


'American Taliban' John Walker Lindh released from prison after 17 years

This combination of pictures created on April 17, 2019 shows at left a police file photo made available February 6, 2002 of the “American Taliban” John Walker Lindh and at right a February 11, 2002 photograph of him as seen from the records of the Arabia Hassani Kalan Surani Bannu madrassa (religious school) in Pakistan’s northwestern city of Bannu. – John Walker Lindh, an American captured with the Taliban in November 2001 just weeks after the US launched the war in Afghanistan, is to be released in May 2019 after 17 years in prison.

John Walker Lindh, a Californian captured fighting alongside the Taliban in Afghanistan months after the Sept. 11, 2001, terrorist attacks, was released from federal prison Thursday after 17 years, cutting short his sentence by three years.

A Federal Bureau of Prisons representative confirmed to CNBC that Lindh was released from a facility in Terre Haute, Indiana.

Lindh, 38, had been sentenced to 20 years after he reached a plea deal that spared him from what could have been more than three life terms. He was released early for good behavior, according to NBC News.

As conditions of his release, Lindh will spend three years on probation and will be barred from having devices that access the internet. He is also forbidden from viewing extremist videos, and probation officers will monitor his internet use.

American officials, however, are concerned that Lindh may still pose a risk for terrorism. In 2015, he wrote a letter to an NBC Los Angeles producer in which he said the terror group ISIS was “doing a spectacular job.” In a series of letters to the producer, Lindh called himself Yahya Lindh, referred to himself as a political prisoner and said he was continuing to pursue knowledge of Islam.


Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: mike calia
Keywords: news, cnbc, companies, producer, walker, prison, internet, lindh, taliban, john, american, released, probation, 17, nbc


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Stocks making the biggest moves premarket: Boeing, Express, Spotify, Goldman Sachs & more

Express — The apparel retailer earned an adjusted 19 cents per share for its latest quarter, 3 cents a share above estimates. Spotify — Spotify filed a European Union complaint against Apple, saying Apple unfairly abused its dominance of its app store to favor Apple Music over Spotify. Chief Financial Officer Darren Karst and Chief Operating Officer Kermit Crawford are also leaving the drugstore chain. Goldman Sachs — Goldman is opening its special situations group to outside investors, accordin


Express — The apparel retailer earned an adjusted 19 cents per share for its latest quarter, 3 cents a share above estimates. Spotify — Spotify filed a European Union complaint against Apple, saying Apple unfairly abused its dominance of its app store to favor Apple Music over Spotify. Chief Financial Officer Darren Karst and Chief Operating Officer Kermit Crawford are also leaving the drugstore chain. Goldman Sachs — Goldman is opening its special situations group to outside investors, accordin
Stocks making the biggest moves premarket: Boeing, Express, Spotify, Goldman Sachs & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: peter schacknow, jeenah moon
Keywords: news, cnbc, companies, samsung, spotify, premarket, boeing, producer, sachs, moves, share, chief, officer, goldman, express, apple, unit, upgraded, making, biggest, stocks


Stocks making the biggest moves premarket: Boeing, Express, Spotify, Goldman Sachs & more

Check out the companies making headlines before the bell:

Boeing — Boeing remains on watch, as noted above, after falling more than 11 percent over the past two sessions. Some U.S. lawmakers are calling for the Federal Aviation Administration to ground the 737 Max jets after their involvement in two overseas air crashes, but the agency maintains that the jet is airworthy. Boeing has now released details of a software update for the jet, which has been in the works for several months and predates those crashes.

Aurora Cannabis — The cannabis producer has appointed Trian’s Nelson Peltz as a strategic adviser, to help explore potential partnerships that would advance Aurora’s market strategy. Peltz will be granted options for nearly 20 million shares, that would vest over a four-year period.

Express — The apparel retailer earned an adjusted 19 cents per share for its latest quarter, 3 cents a share above estimates. Revenue was below forecasts, however, and a 6 percent drop in comparable-store sales was below the consensus Refinitiv estimate of a 5.6 percent decline. Express called its performance “disappointing” and said it faces more short-term challenges.

Sanderson Farms — JPMorgan Chase upgraded the poultry producer to “neutral” from “underperform” pointing to recent outperformance by the stock, higher chicken prices, and the prospect of China opening its markets to U.S. poultry products.

Spotify — Spotify filed a European Union complaint against Apple, saying Apple unfairly abused its dominance of its app store to favor Apple Music over Spotify. Separately, the music streaming service announced an expansion of its partnership with Samsung, with Spotify being pre-installed on new Samsung devices and customers eligible for six months of Spotify Premium.

Kraft Heinz — Kraft Heinz is considering a sale of its Breakstone business, known for its cottage cheese and sour cream products, according to people familiar with the situation who spoke to CNBC. The unit is said to be worthy roughly $400 million.

Rite Aid — Chief Executive Officer John Standley will leave that job once a successor is appointed. Chief Financial Officer Darren Karst and Chief Operating Officer Kermit Crawford are also leaving the drugstore chain. Rite Aid also announced it was cutting about 400 corporate positions in a move that it says will save about $55 million per year.

Tesla — The Securities and Exchange Commission has received permission from a federal judge to respond to Tesla CEO Elon Musk’s defense of his tweet involving production levels. The SEC had asked that Musk be held in contempt of court for that tweet, which it claims violated terms of a settlement between the two parties.

Goldman Sachs — Goldman is opening its special situations group to outside investors, according to The Wall Street Journal. The profitable group has been investing Goldman’s own money in Asian property, troubled U.S. retailers, and other ventures.

Carnival — Carnival was upgraded to “buy” from “neutral” at Goldman Sachs, which cites upbeat growth figures for the cruise line operator.

CVS Health — CVS was rated “outperform” in new coverage at Bernstein, which said the current price doesn’t reflect the solid managed care organization business of its recently acquired Aetna unit and that threats to profit margins are already reflected.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: peter schacknow, jeenah moon
Keywords: news, cnbc, companies, samsung, spotify, premarket, boeing, producer, sachs, moves, share, chief, officer, goldman, express, apple, unit, upgraded, making, biggest, stocks


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China’s inflation slows in January, potentially pushing officials to step in, says economist

CPI eased due to a decline in food prices, wrote Dong Yaxiu, a statistics bureau official, in an analysis of the data. Meanwhile, producer inflation rose just 0.1 percent from a year ago, compared to a 0.2 percent rise expected by economists polled by Reuters. China’s December Producer Price Index — which measures price increases before they reach the consumer — had risen 0.9 percent on-year. While CPI remains at a “comfortable level,” Evans-Pritchard said in a note on Friday that the weak produ


CPI eased due to a decline in food prices, wrote Dong Yaxiu, a statistics bureau official, in an analysis of the data. Meanwhile, producer inflation rose just 0.1 percent from a year ago, compared to a 0.2 percent rise expected by economists polled by Reuters. China’s December Producer Price Index — which measures price increases before they reach the consumer — had risen 0.9 percent on-year. While CPI remains at a “comfortable level,” Evans-Pritchard said in a note on Friday that the weak produ
China’s inflation slows in January, potentially pushing officials to step in, says economist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: huileng tan, getty images
Keywords: news, cnbc, companies, producer, weak, officials, inflation, statistics, risen, senior, wrote, slows, prices, chinas, price, step, economist, cpi, pushing, potentially


China's inflation slows in January, potentially pushing officials to step in, says economist

China’s Consumer Price Index missed expectations in January coming in at 1.7 percent higher than a year ago, the National Bureau of Statistics said on Friday.

Economists polled by Reuters were expecting CPI to come in at 1.9 percent higher year-over-year. December CPI — a gauge of prices for goods and services — had risen 1.9 percent on-year.

CPI eased due to a decline in food prices, wrote Dong Yaxiu, a statistics bureau official, in an analysis of the data.

Meanwhile, producer inflation rose just 0.1 percent from a year ago, compared to a 0.2 percent rise expected by economists polled by Reuters. China’s December Producer Price Index — which measures price increases before they reach the consumer — had risen 0.9 percent on-year.

January marked the seventh straight month of slowing factory gate inflation, according to Reuters records.

The below-consensus inflation figures suggest that demand “remained sluggish” at the start of 2019, which may spur official action to support the economy, wrote Julian Evans-Pritchard, senior China economist at Capital Economics.

While CPI remains at a “comfortable level,” Evans-Pritchard said in a note on Friday that the weak producer price numbers are “a concern since these are highly correlated with profit growth in industry.”

He predicted Beijing will roll out measures, such as cutting benchmark lending rates, to ease financial pressure on industrial firms as factory gate inflation looks to deepen in the months ahead.

However, weak producer prices do not always feed through into the CPI due to the concentration of heavy industries in the PPI, said Sian Fenner, a senior economist at Oxford Economics. Weak oil prices recently weighed on PPI, she noted.

“We are still expecting the disparity between the two to continue,” she told CNBC.

The data comes amid a new round of U.S.-China talks in Beijing this week as the world’s two largest economies renewed efforts to reach a deal to defuse trade tensions.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: huileng tan, getty images
Keywords: news, cnbc, companies, producer, weak, officials, inflation, statistics, risen, senior, wrote, slows, prices, chinas, price, step, economist, cpi, pushing, potentially


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Trump blasted OPEC this past year. Hess CEO says the oil producer group deserves praise

President Donald Trump has blasted OPEC several times over the past year, but Hess CEO John Hess says the 14-nation producer group plays an important role in the oil market and deserves praise for stabilizing prices in recent years. OPEC forged an alliance with Russia and other oil producers in 2016 to end a punishing oil price downturn that bankrupted more than 100 U.S. drillers. The alliance, often called OPEC+, has capped production for much of the last two years in order to shrink a global c


President Donald Trump has blasted OPEC several times over the past year, but Hess CEO John Hess says the 14-nation producer group plays an important role in the oil market and deserves praise for stabilizing prices in recent years. OPEC forged an alliance with Russia and other oil producers in 2016 to end a punishing oil price downturn that bankrupted more than 100 U.S. drillers. The alliance, often called OPEC+, has capped production for much of the last two years in order to shrink a global c
Trump blasted OPEC this past year. Hess CEO says the oil producer group deserves praise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: tom dichristopher, david orrell
Keywords: news, cnbc, companies, global, group, role, hess, ceo, past, opec, important, panel, stabilizing, industry, secretary, oil, producer, praise, deserves, trump


Trump blasted OPEC this past year. Hess CEO says the oil producer group deserves praise

President Donald Trump has blasted OPEC several times over the past year, but Hess CEO John Hess says the 14-nation producer group plays an important role in the oil market and deserves praise for stabilizing prices in recent years.

OPEC forged an alliance with Russia and other oil producers in 2016 to end a punishing oil price downturn that bankrupted more than 100 U.S. drillers. The alliance, often called OPEC+, has capped production for much of the last two years in order to shrink a global crude glut and put a floor under oil prices.

“The secretary general of OPEC as well as OPEC members play a very important role in stabilizing markets for oil, so those efforts are to be recognized,” Hess said during a panel at the World Economic Forum in Davos, Switzerland on Wednesday.

OPEC Secretary General Mohammed Barkindo, speaking at the same panel, said what OPEC+ has done is “commendable” and helped save U.S. producers.

“We have to continue to collaborate. It’s one industry. It’s a global industry, and I think our colleagues in the U.S. are on the same page with us and we will work together to exchange views,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: tom dichristopher, david orrell
Keywords: news, cnbc, companies, global, group, role, hess, ceo, past, opec, important, panel, stabilizing, industry, secretary, oil, producer, praise, deserves, trump


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US will ‘reinforce its leadership’ as the world’s top crude producer in 2019, IEA says

The level of crude output from the U.S. will once again be a major factor this year, the International Energy Agency (IEA) said its closely-watched report on Friday, with the energy giant on track to reaffirm its position as the world’s leading crude producer. The IEA report comes shortly after OPEC and non-OPEC producers officially implemented a fresh round of supply cuts. “While the other two giants voluntarily cut output, the U.S., already the biggest liquids supplier, will reinforce its lead


The level of crude output from the U.S. will once again be a major factor this year, the International Energy Agency (IEA) said its closely-watched report on Friday, with the energy giant on track to reaffirm its position as the world’s leading crude producer. The IEA report comes shortly after OPEC and non-OPEC producers officially implemented a fresh round of supply cuts. “While the other two giants voluntarily cut output, the U.S., already the biggest liquids supplier, will reinforce its lead
US will ‘reinforce its leadership’ as the world’s top crude producer in 2019, IEA says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-18  Authors: sam meredith, ken cedeno, corbis news, getty images
Keywords: news, cnbc, companies, output, opec, leadership, worlds, 2019, saudi, oil, producer, wti, crude, reinforce, start, report, iea


US will 'reinforce its leadership' as the world's top crude producer in 2019, IEA says

The level of crude output from the U.S. will once again be a major factor this year, the International Energy Agency (IEA) said its closely-watched report on Friday, with the energy giant on track to reaffirm its position as the world’s leading crude producer.

The IEA report comes shortly after OPEC and non-OPEC producers officially implemented a fresh round of supply cuts.

Alongside Russia and nine other nations, top oil exporter Saudi Arabia struck a deal with the rest of OPEC in December to keep 1.2 million barrels per day (b/d) off the market from the start of January.

“While the other two giants voluntarily cut output, the U.S., already the biggest liquids supplier, will reinforce its leadership as the world’s number one crude producer,” the Paris-based IEA said Friday.

“By the middle of the year, U.S. crude output will probably be more than the capacity of either Saudi Arabia or Russia.”

International benchmark Brent crude traded at around $61.69 Friday morning, up 0.8 percent, while U.S. West Texas Intermediate (WTI) stood at $52.56, almost 1 percent higher.

Brent crude has fallen almost 30 percent since climbing to a peak of $86.29 in early October last year, while WTI is down more than 31 percent over the same period.

The collapse in oil prices was exacerbated by concerns about oversupply, as well as a stock market slump amid worries over rising U.S. interest rates.

That prompted OPEC and non-OPEC producers to throttle back output at the start of 2019, in an effort to try to put a floor under falling oil prices.


Company: cnbc, Activity: cnbc, Date: 2019-01-18  Authors: sam meredith, ken cedeno, corbis news, getty images
Keywords: news, cnbc, companies, output, opec, leadership, worlds, 2019, saudi, oil, producer, wti, crude, reinforce, start, report, iea


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Newmont Mining to buy Goldcorp in $10 billion deal to create world’s largest gold producer

Newmont Mining said on Monday that it would buy smaller rival Goldcorp in a deal valued at $10 billion, creating the world’s biggest gold producer by output. The gold mining industry has come under fire from investors in recent months for poor management of capital. This combined with falling gold reserves and higher extraction costs have prompted miners to look for cost efficiencies. In 2017, Newmont produced 5.3 million ounces of gold, while Goldcorp mined 2.6 million ounces. Newmont will offe


Newmont Mining said on Monday that it would buy smaller rival Goldcorp in a deal valued at $10 billion, creating the world’s biggest gold producer by output. The gold mining industry has come under fire from investors in recent months for poor management of capital. This combined with falling gold reserves and higher extraction costs have prompted miners to look for cost efficiencies. In 2017, Newmont produced 5.3 million ounces of gold, while Goldcorp mined 2.6 million ounces. Newmont will offe
Newmont Mining to buy Goldcorp in $10 billion deal to create world’s largest gold producer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: dado galdieri, bloomberg, getty images
Keywords: news, cnbc, companies, combined, share, million, reserves, producer, deal, buy, resources, largest, goldcorp, mining, worlds, gold, newmont, create, shares


Newmont Mining to buy Goldcorp in $10 billion deal to create world's largest gold producer

Newmont Mining said on Monday that it would buy smaller rival Goldcorp in a deal valued at $10 billion, creating the world’s biggest gold producer by output.

The deal is the second high-profile merger in the mining industry since Barrick Gold agreed to buy Randgold Resources Ltd in September last year to cut costs.

The gold mining industry has come under fire from investors in recent months for poor management of capital. This combined with falling gold reserves and higher extraction costs have prompted miners to look for cost efficiencies.

“The strategic rationale for combining Goldcorp with Newmont is powerfully compelling on many levels,” Goldcorp Chief Executive Officer David Garofalo said in a statement.

The combined company is expected to produce 6 million to 7 million ounces of gold over the next 10 years. In 2017, Newmont produced 5.3 million ounces of gold, while Goldcorp mined 2.6 million ounces.

Newmont will offer 0.3280 of its share and $0.02 for each Goldcorp share. Based on Newmont’s Friday close, that translates to $11.46 per share, a premium of about 18 percent to Goldcorp’s Friday close on the New York Stock Exchange.

The combined company’s reserves and resources will represent the largest in the gold sector and will be located in favorable mining jurisdictions in the Americas, Australia, and Ghana, the companies said.

Goldcorp’s U.S.-listed shares were up 13 percent before the bell on Monday. Newmont Mining’s shares were down 2.6 percent.


Company: cnbc, Activity: cnbc, Date: 2019-01-14  Authors: dado galdieri, bloomberg, getty images
Keywords: news, cnbc, companies, combined, share, million, reserves, producer, deal, buy, resources, largest, goldcorp, mining, worlds, gold, newmont, create, shares


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Ashley Judd’s sexual harassment claim against Weinstein dismissed by US judge

A federal judge in Los Angeles on Wednesday dismissed actress Ashley Judd’s sexual harassment claim against movie producer Harvey Weinstein but said she could proceed with a defamation claim against him. Judd had accused Weinstein of defaming her in 1998 after she refused what she said were his sexual advances a year earlier. In her lawsuit, filed in April 2018, the “Double Jeopardy” actress accused Weinstein of smearing her reputation by discouraging director Peter Jackson from casting her in h


A federal judge in Los Angeles on Wednesday dismissed actress Ashley Judd’s sexual harassment claim against movie producer Harvey Weinstein but said she could proceed with a defamation claim against him. Judd had accused Weinstein of defaming her in 1998 after she refused what she said were his sexual advances a year earlier. In her lawsuit, filed in April 2018, the “Double Jeopardy” actress accused Weinstein of smearing her reputation by discouraging director Peter Jackson from casting her in h
Ashley Judd’s sexual harassment claim against Weinstein dismissed by US judge Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: jefferson siegel-pool, getty images
Keywords: news, cnbc, companies, producer, accused, sexual, relationship, refused, women, judge, judds, movie, ashley, claim, harassment, weinstein, dismissed, actress


Ashley Judd's sexual harassment claim against Weinstein dismissed by US judge

A federal judge in Los Angeles on Wednesday dismissed actress Ashley Judd’s sexual harassment claim against movie producer Harvey Weinstein but said she could proceed with a defamation claim against him.

Judd had accused Weinstein of defaming her in 1998 after she refused what she said were his sexual advances a year earlier.

In her lawsuit, filed in April 2018, the “Double Jeopardy” actress accused Weinstein of smearing her reputation by discouraging director Peter Jackson from casting her in his blockbuster movie franchise “The Lord of the Rings.”

Judd, one of the first women in October 2017 to publicly accuse Weinstein of sexual misconduct, had accused the Hollywood movie mogul of sexual harassment in violation of a California law barring such conduct by a person in a “business, service or professional relationship” with another.

In a footnote to his ruling, U.S. District Judge Philip Gutierrez said he was not determining whether Judd was sexually harassed by Weinstein “in the colloquial sense of the term.”

But Gutierrez said that Judd’s relationship as an actress with the film producer was not covered under the California statute she had sued under, nor under a 2019 amendment.

“We have said from the beginning that this claim was unjustified, and we are pleased that the court saw it as we did. We believe that we will ultimately prevail on her remaining claims,” Weinstein’s lawyer, Phyllis Kupferstein, said in a statement.

Judd’s representative did not immediately respond to a request for comment.

Weinstein is to stand trial in May in New York on five charges, including rape, involving two other women.

The disgraced Hollywood producer of movies like “Shakespeare in Love” has been accused of sexual misconduct by more than 70 women. He has denied the accusations, saying any sexual encounters were consensual.

Judd’s lawsuit had alleged Weinstein “cornered her in a hotel room in 1997 under the guise of discussing business.” When she refused his demands, he retaliated by making what she called “baseless smears” against her to “Lord of the Rings” director Jackson, and she lost a part in the movie.

Weinstein denied defaming Judd or interfering with her career.


Company: cnbc, Activity: cnbc, Date: 2019-01-10  Authors: jefferson siegel-pool, getty images
Keywords: news, cnbc, companies, producer, accused, sexual, relationship, refused, women, judge, judds, movie, ashley, claim, harassment, weinstein, dismissed, actress


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