15Nov2017 Market Close: Wall Street Trends Down In Fifth Session As The Energy Sector Tracks Oil Lower, WTI Crude Settles In The High 54 Handle, Gold And The US Dollar Relatively Unchanged

Wall Street falls as energy tracks oil lower; tech weighs

NEW YORK (Reuters) – U.S. stocks fell on Wednesday as energy sector shares dropped for a fourth straight session, tracking crude prices, while tech, the best performing sector this year, weighed the most on the S&P 500.

U.S. government approaches 18 states to fight AT&T-Time Warner deal

WASHINGTON (Reuters) – The U.S. Justice Department has approached 18 state attorneys general to try to win their support for an antitrust lawsuit to block pay TV and wireless powerhouse AT&T Inc’s $85.4 billion deal to buy media and entertainment company Time Warner Inc, a person briefed on the matter said on Wednesday.

GM challenges Tesla with promise of profitable electric cars

(Reuters) – General Motors Co plans to launch a new family of electric vehicles in 2021 that will cost less to build and make a profit for the U.S. No. 1 automaker, Chief Executive Mary Barra told investors on Wednesday.

Fox shareholders reject proposal to abandon dual-class shares

(Reuters) – A shareholder proposal calling for Twenty-First Century Fox Inc to do away with its dual-class share structure was rejected on Wednesday, based on preliminary results announced at the media company’s annual meeting.

Payments company Square tests bitcoin buying and selling

(Reuters) – Payments company Square Inc said it has started allowing select customers to buy and sell bitcoins on its Cash app, as it looks to tap into a craze that has sent the cryptocurrency up nearly sevenfold this year.

Target signals another weak holiday quarter, shares tumble

(Reuters) – Target Corp’s holiday-quarter profit forecast fell short of analyst expectations, sending its shares down 10 percent on Wednesday as hopes faded that the retailer would make a shopping season comeback.

U.S. delivery companies dig deep to hire holiday season help

SEATTLE (Reuters) – The tightest U.S. labor market this century is putting pressure on margins for freight haulers and warehouse operators as they bid for hundreds of thousands of workers to move packages during the peak holiday period.

Lockheed’s CH-53K helicopter to make global debut at Berlin air show: sources

BERLIN (Reuters) – The U.S. military has approved Lockheed Martin Corp’s new CH-53K heavy-lift helicopter to fly at the Berlin air show next April, according to two sources familiar with the program.

Record Airbus order as Franke ups bet on budget airlines

DUBAI (Reuters) – Airbus hailed its biggest ever airliner deal on Wednesday with an umbrella agreement to sell 430 planes worth up to $50 billion to U.S. budget airlines investor Bill Franke.

A Guide To Where (And How) Harvey Weinstein Might Go To Jail

Harvey Weinstein’s days as a free man are numbered. Last week, the NYPD’s first detective revealed that investigators believe they have enough evidence to charge Weinstein with rape for reportedly twice attacking actress Paz de la Huerta in 2010 at her apartment, and revealed that an indictment could be approved by a grand jury as soon as this week.

So far, 84 women have come forward with allegations of rape, groping and harassment at the hands of Harvey Weinstein, whether he will face jail time will be determined in part by the statute of limitations where the alleged crimes were committed.

According to the Hollywood Reporter, many of the cases likely will go unprosecuted for having been reported too late. At least, that’s what French authorities seem to believe is the case for incidents at the Cannes Film Festival. That leaves L.A., Sundance home Park City, London and NYC, and the latter is considered by experts as the jurisdiction most likely to file charges.

After it surfaced that Manhattan District Attorney Cyrus Vance Jr. quashed a NYPD investigation into Weinstein back in 2015, and then took a campaign donation from one of Weinstein’s lawyers, The NYPD is believed to be the jurisdiction most likely to prosecute – and is the only one of the investigations in at least four municipalities – including an investigation at the FBI – that appears to be nearing an arrest.
Vance, facing criticism for choosing not to seek indictment after the producer was caught on tape admitting to groping model Ambra Battilana Gutierrez in 2015 …

Iraq Oil Revenue Not Enough For Sustainable Development

Authored by Zainab Calcuttawala via OilPrice.com,

Oil revenues still are not high enough to allow the Iraqi government to fund the reconstruction of the country, according to Iraqi Prime Minister Haider Al-Abadi.

“Oil prices are not at the required level to be used for sustainable development,” state TV quoted al-Abadi as saying during a press conference.

Iraq proclaimed itself victorious earlier this year after a three-year, hard-fought war against the terrorist Islamic State.

The victory freed up some money – but not enough – for reconstructing the nation after almost 15 years after the demise of dictator Saddam Hussain and the fall of his regime.

The oil price crash of 2014 has made it difficult for fossil-fuel dependent countries to provide key government services to its citizens, and Iraq was not immune.

In Iraq, years of financial mismanagement and domestic conflict exacerbated existing civil governance issues.

Just over a month has passed since the Kurdish referendum, which resulted in a near-unanimous vote for the Kurdistan Regional Government to secede from Iraq.

Baghdad has not accepted the results of the vote, moving instead to deploy its military to secure control of the …

Amazon Slashes Whole Foods Prices In Round 2 Of Grocer Wars

Three months after Amazon slashed some Whole Foods prices by as much as 43% on the day its purchase of the grocery chain closed in its first (of many) attempts to steal market share from competitors by selling at a loss, today Amazon announced round 2 of the grocer wars, when it unveiled even more discounts on several grocery products at Whole Foods, just days ahead of the Thanksgiving holiday, sending stocks of rival ultra-low margin grocers tumbling.

The lower prices include deeper discounts on some items for Amazon Prime members and come on top of price cuts already announced by Whole Foods in August. Among the price cuts, Whole Foods said it would sell organic turkey for $3.49 per pound to all customers, while Prime members could buy it at an even lower price of $2.99 a pound.

More price cut details:

Whole Foods Market will also offer lower prices starting today on an additional selection of customer favorites across its stores, including: Value Pack Boneless Skinless Chicken Breasts (Organic and No Antibiotic), Responsibly Farmed Raw Peeled Shrimp, and holiday favorites such as 365 Everyday Value Canned Pumpkin, Organic Broccoli, 1lb Organic Salad Mixes, Organic Russet Potatoes, and Organic Sweet Potatoes.

All customers will also see reduced prices on products from some of the most well respected natural and organic brands, including Organic Rice from Lundberg Family Farms, Organic Beans from Eden Foods, Organic Chicken and Vegetable Broths from Pacific Foods, Organic Eggs and Milk from Organic Valley, and Toothpaste from Tom’s of Maine. Whole Foods Market is also offering lower everyday prices on some of the most popular pro …

The Bright Side of Low Inflation

Low inflation might be a worrying puzzle for the Federal Reserve, but it is also putting more spring in consumer spending. That will make it easier for the central bank to raise rates again when it meets next month.

Tencent’s Videogame Business Hits Another High Score

The world’s biggest videogame company saw sales and profit handily beating analyst estimates, with games accounting for half of the company’s revenue. In particular, revenue from mobile games nearly doubled from a year ago.

What’s Behind the Market Wobble?

Some assets certainly feel chillier in November than in October. Answers are elusive, but markets may have set themselves up for a fall.

October 2017 Import Sea Containers Decline

Written by Steven Hansen

The October month-over-month import container counts are weaker than the previous month. The rolling averages for exports are deeply in contraction.

Mnuchin goes to see his name on new dollar bills and becomes a viral social media hit

Treasury Secretary Steven Mnuchin’s hum-drum photo opportunity became a viral social media hit on Wednesday.

IPO Report: SendGrid shares surge above elevated pricing on first day of trading

SendGrid Inc. shares rally on their first day of trading Wednesday as the cloud-based marketing email delivery company prices its initial public offering above its range and adds shares to the offering.

Key Words: ‘Dean’ of new church says we need to worship at the AI altar — or else!

Anthony Levandowski discusses how new church, which he dubbed Way of the Future, can help save mankind.