LONDON (Reuters) - Reckitt Benckiser has agreed to buy U.S. baby formula maker Mead Johnson Nutrition for $16.6 billion, giving the British consumer goods company a new product line and expanding its presence in developing markets.
WASHINGTON (Reuters) - U.S. consumer sentiment eased off a 13-year high in early February likely as some of the jubilation over Donald Trump's election victory ebbed, but it remained strong enough to suggest that consumers will continue to drive the economy.
(Reuters) - The United Automobile Workers union on Friday said it has been approached by workers at Tesla Inc's Fremont, California assembly plant, and it rejected Tesla Chief Executive Elon Musk's charge that a worker who publicly criticized the company was on the UAW payroll.
GENEVA (Reuters) - A United Nations report on establishing a database of companies with business interests in Israeli settlements in the occupied West Bank is set to be delayed until later this year, diplomats and activists said on Friday.
FRANKFURT (Reuters) - Daimler's trucks chief Wolfgang Bernhard, once seen as a candidate to succeed Chief Executive Dieter Zetsche, has stepped down a year before his contract was due to run out, the German carmaker said on Friday.
DUBAI/LONDON (Reuters) - OPEC has delivered more than 90 percent of pledged oil output curbs in January, according to figures the exporter group uses to monitor its supply, making a strong start to implementation of its first production cut in eight years.
EIA confirmation of OPEC cut-compliance is trumping the dismal inventory data and surging US production for now. However, as US oil rig counts continue to rise (+8 to 591 - highest since Oct 2015) with US crude production charging ahead with it, the question many should be asking (given all-time record high net long speculative positioning in WTI/Brent) is "what will OPEC do if the market doesn't rebalance?"
The rise in rig counts has been all Permian and all horizontal. Oil rig counts rose 8 this week to 591 - the highst since Oct 2015
US crude production reached new cycle highs (highest since April 2016) tracking perfectly with lagged oil rig count data...
Oil algos seem willing to do 'whatever it takes' to get WTI green for the week...
It seems rising production is no fear for speculators for now...
Ahead of a weekend playing golf together at Mar-a-Lago, President Trump and Japanese Prime Minister Abe face the press to explain how a strong (and weak) currency is good (and bad) for the economy, how much Abe will be investing in American infrastructure, and how they will face their real common enemy - China (not deflation) together...
As Bloomberg's Cameron Crise notes, Shinzo Abe and Donald Trump have a lot in common -- they both swept into power on a promise of radical economic change. But if Japan is any example, shifting U.S. growth into a permanently higher gear may be easier said than done...
Back in 2012, when Trump was still firing contestants on TV, Abe came to power on a promise to revitalize Japan's economy after years of decay.
Abenomics included fiscal stimulus, structural reform, deregulation, and changes to the tax system -- a cut in the corporate rate and an increase in the VAT. Sound familiar?
Perhaps the most notable aspect of Abe's program was the appointment of Haruhiko Kuroda to head the BOJ, which then embarked on a program of radical monetary easing that continues today. That arrow is one that Trump will not have in his quiver, unless Janet Yellen is replaced with a stooge.
Abe's strategy has had a big impact on prices, largely by eviscerating the value of the yen. In the 10 years ending in 2007, Japan's nominal GDP growth averaged -0.1 percent per year and CPI -0.2 percent. During the Abenomics years, those figures jumped to 2.2 percent and 1.0 percent respectively. However, the latter figure is still well short of the BOJ's 2 percent inflation target, and in the last two years inflati ...
By her public utterances, Betsy DeVos seemed spectacularly unqualified to lead the bureaucratic enterprise called the US Department of Education. But you really have to wonder: could she do any worse than the exalted mandarins of educational bureaucracy who preceded her?
There is so much not right with public education these days that it could be the poster child for institutional collapse in America. Certainly in terms of the money spent per student, it illustrates perfectly Joseph Tainter's classic collapse dynamic of over-investments in complexity with diminishing returns. Young adults are floundering in high school, or "graduating" as functional illiterates despite the vaunted widespread application of computer "technology." They can do Instagram on a cell phone, but they can't read an application for a driver's license. And the mania for "diversity and multiculture" has left kids without the armature of an American common culture to successfully mold a life onto.
That common culture, by the way, is exactly what allowed waves of immigrants from the early 19th century until the Second World War to find a place and thrive in an American life that was new to them. It also enabled the sons and daughters of former slaves to enter professions and business, even despite Jim Crow segregation. Today, according to the official diktat of the Department of Education, and the propaganda of the politicized teacher corps, the very mechanisms that made previous success possible are essentially outlawed or banished beyond the pale of a functional consensus. For instance, instruction in speaking English correctly.
I have said this before to the scorn and derision of my auditors: it should be the p ...
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