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Bailey, however, said he anticipates the level of production will likely hold, because oil giants like Saudi Arabia - the de facto leader of OPEC - don't want to see prices fall. Falih said the oil market had now rebalanced and his aim was to prevent a shortage of crude in future that could squeeze the market. The U.S. benchmark in May hit its highest level in three and half years, at $72.35 a barrel.
  • Trudeau’s criticism will cost Canada ‘a lot of money’

    Trudeau’s criticism will cost Canada ‘a lot of money’

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    The insults stemmed from a closing G7 press conference on Saturday in which Trudeau called USA steel and aluminum tariffs "insulting" and pledged to proceed with previously announced retaliatory tariffs . He's railed many times in recent days against Canadian import duties of 270 percent on dairy. "They owe you an apology", Heyman said. Ongoing tensions between America and its closest allies over tariffs and other issues have not soured military-to-military relationships, US Defense ...
  • Judge Approves AT&T Mega-Merger Over Trump Opposition

    Judge Approves AT&T Mega-Merger Over Trump Opposition

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    Now that a federal judge has approved AT&T's $85 billion takeover of Time Warner , other companies are likely to rush to consolidate. Using unusually strong language, Leon said it would be "manifestly unjust" for the government to ask him to put his own ruling on hold, because if he were to do so, it could have the effect of killing the deal, which has a deadline for completion of June 21.
  • US President Trump arrives in Singapore for historic Trump-Kim summit

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    Days earlier, in the North Korean village of Panmunjom, negotiations between diplomats from Washington and Pyongyang stalled when North Korea's vice-foreign minister Choe Son-hui said that denuclearization "should not be on the table for the Singapore summit" - a demand that would nullify the meeting's goal from the White House's perspective.
  • Net Neutrality Is Finally, Actually Dead

    Net Neutrality Is Finally, Actually Dead

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    As you surf the internet, you might not notice anything different. Pai also called the new course of action a "tremendous bipartisan success" and noted that the rules were "especially harmful for smaller internet service providers who didn't have the means to withstand a regulatory onslaught".
  • US Says NKorea Talks Moving Quickly, Trump to Leave Early

    US Says NKorea Talks Moving Quickly, Trump to Leave Early

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    Officials from the two sides held last-minute talks aimed at laying the groundwork for a meeting that was nearly unthinkable just months ago when the two leaders were exchanging insults and threats that raised fears of war. "It's hospitality that we would have offered them, and as Chairman Kim said yesterday, he would have liked to have come to Singapore anyway, with or without the summit", Dr.
  • Verizon names tech chief CEO, prioritizes 5G network over content

    Verizon names tech chief CEO, prioritizes 5G network over content

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    Vestberg, 52, joined Verizon a year ago after being fired as chief executive at communications equipment maker Ericsson in 2016, following years of dismal growth and weak earnings. It has returned over United States dollars 54 billion to shareholders in cash dividends. Verizon acquired Yahoo and AOL under McAdams administration.
  • Ghana Football Association dissolved amid corruption allegations

    Ghana Football Association dissolved amid corruption allegations

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    I have made a decision to resign as the Chairman of the Northern Regional Football Association and an Executive Committee member of the Ghana Football Association. Abdul-Hamid said the government was "shocked and outraged" at the claims, which included referees apparently accepting bribes of at least $100 to throw matches.
  • Trudeau: G7 summit successful but global trade differences remain

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    Trump said that he also discussed the possibility of Russian rejoining the summit and immigration. The US president also repeated his call for Putin to join the other leaders around the summit table. Donald Trump disrupted a G7 breakfast discussion on women's empowerment Saturday morning by showing up late. "We are ready for this", he said. Trump did not specify how the US's allies responded to his proposal.
  • Commerce Secretary: US reaches deal with China’s ZTE

    Commerce Secretary: US reaches deal with China’s ZTE

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    The story began last March when ZTE lied to the US government about disciplining employees responsible for supplying, building, and operating telecommunications networks in Iran with USA -supplied components and equipment. The U.S.is maintaining its 10-year export ban on ZTE, but the ban is indefinitely suspended and is likely to remain suspended if ZTE complies with the U.S.
  • Commerce Secretary: US reaches deal with China's ZTE

    Commerce Secretary: US reaches deal with China's ZTE

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    According to a report from Reuters , ZTE has reached a deal with U.S. authorities that would lift a ban that prevents it from buying parts from United States suppliers. The agreement is also expected to call for other concessions from ZTE, including new board members and increased USA oversight of its business. The gear maker pleaded guilty previous year in federal court in Texas for conspiring to violate US sanctions to Iran.
  • Mexico hits back with $3 billion in tariffs on US products

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    Blame the nations that have broken away" from fair trade practices, Kudlow told reporters at a White House press conference . The 25 percent tariff on imports of steel and 10 percent on imports of aluminum went into effect on June 1, after a short exemption period for Canada , Mexico, and the European Union.
  • World's biggest investor in clash with Tesla over Elon Musk's dual role

    World's biggest investor in clash with Tesla over Elon Musk's dual role

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    Tesla last month told employees that the company was being reorganized to speed up production of Model 3 vehicles - a key to profitability for the fast-growing electric auto maker. On Tuesday, shareholders approved re-electing Antonio Gracias, James Murdoch and Kimbal Musk, the CEO's brother. Just days after failing to receive a Recommended score in Consumer Reports , the Tesla Model 3 received the Recommended label after improving its braking performance via an over-the-air software ...
  • Expect disagreements over tariffs at G7 summit: Canada official

    Expect disagreements over tariffs at G7 summit: Canada official

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    Mexico imports so much US pork - almost one-third of what's consumed - that the government says it will waive tariffs on up to 350,000 tons of pork imported from other nations to avoid destabilizing the market. allies would break down large trade barriers faced by American farmers. "AFP-Kansas Foundation wishes David and his family well", Jeff Glendening, AFP Foundation Kansas state director, said in an e-mail to the Eagle.
  • Qatar Airways CEO says a woman can’t do his job

    Qatar Airways CEO says a woman can’t do his job

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    An IATA board photograph published last week featured one woman out of 26 airline chiefs - Christine Ourmières-Widener, chief executive of United Kingdom regional carrier Flybe.Other airline companies have made efforts to promote women to senior positions in recent years.
  • Microsoft's acquisition of open-source icon GitHub is reportedly a done deal

    Microsoft's acquisition of open-source icon GitHub is reportedly a done deal

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    The company has since grown to feature video game consoles (Xbox), consumer electronics, personal computers and cloud services (Microsoft Azure). Microsoft expects the acquisition will be accretive to operating income in fiscal year 2020 on a non-GAAP basis, and to have minimal dilution of less than 1 percent to earnings per share in fiscal years 2019 and 2020 on a non-GAAP basis, based on the expected close time frame.
  • Apple WWDC 2018: What to expect, livestream and more

    Apple WWDC 2018: What to expect, livestream and more

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    For the second year in a row, the San Jose Convention Center in San Jose , California is hosting Apple's time-honored Worldwide Developers Conference , which was moved from that same location to San Francisco's Moscone Center back in 2003.