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Oil falls as signs of U.S. output rise overshadows OPEC-led cuts

A pump jack stands idle in Dewitt County, Texas January 13, 2016.    REUTERS/Anna Driver

Oil prices fell one percent on Monday as signs of a strong recovery in U.S. oil drilling activity outweighed news that OPEC and non-OPEC producers were on track to meet output reduction goals set in December. Global benchmark Brent crude prices LCOc1 were down 53 cents to $54.96 a barrel at 1026 GMT, while U.S. West Texas Intermediate (WTI) crude ...

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London Banker Stakes Claim in Ancient Mining Area on Lithium Bet

A London banker has joined the rush for one of the world’s hottest metals by staking a claim in an ancient U.K. mining region. Jeremy Wrathall, head of mining research at Investec Plc, secured exploration rights to swathes of land in Cornwall, where mining dates back to before the Roman Empire. He says the region — famous for its tin ...

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U.S exchanges rent helicopter, drape banner in pursuit of Snapchat IPO

FILE PHOTO - The Snapchat logo is seen on a banner outside the New York Stock Exchange (NYSE) in New York City, U.S. on November 16, 2016.  REUTERS/Brendan McDermid/File Photo

This past November, Nasdaq Inc (NDAQ.O) hired a helicopter to film Manhattan’s skyline using Snapchat’s new video-camera sunglasses and sent the aerial footage to its social media followers. The New York Stock Exchange – its arch-rival – on the same day tweeted a video shot from the floor of its exchange, showing that it too was using the social media ...

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EPA accuses Fiat Chrysler of excess diesel emissions

Fiat Chrysler Automobiles CEO Sergio Marchionne listens during the North American International Auto Show in Detroit, Michigan, U.S., January 9, 2017.  REUTERS/Rebecca Cook

The U.S. Environmental Protection Agency on Thursday accused Fiat Chrysler Automobiles NV of illegally using hidden software to allow excess diesel emissions to go undetected, the result of a probe that stemmed from regulators’ investigation of rival Volkswagen AG. FCA shares plummeted as the maximum fine is about $4.6 billion. The EPA action affects 104,000 U.S. trucks and SUVs sold ...

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Global stocks up on U.S. bank hopes, dollar and yields slip

The German share price index DAX board is reflected in a glass at the stock exchange in Frankfurt, Germany, December 8, 2016.    REUTERS/Ralph Orlowski

European and U.S. stocks looked to end a sluggish week on a high note on Friday, while the dollar was on track for its biggest weekly fall in two months and U.S. bond yields eyed their longest run of weekly declines since July. Investors largely shrugged off figures that showed Chinese exports fell the most last year since 2009, and ...

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Volkswagen Agrees to Plead Guilty in Diesel-Emissions Scandal


Volkswagen AG took a major step toward resolving one of the darkest chapters in its history Wednesday, agreeing to plead guilty in the U.S. to an emissions-cheating scandal and agreeing to pay $4.3 billion in penalties, while prosecutors announced charges against five individuals in Germany. VW admitted to using false statements to import cars to the U.S. and obstructing investigations ...

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Stocks Rise, Dollar Drops as Trump Effect Fades: Markets Wrap


Donald Trump’s first press conference as president-elect spurred a brief bout of volatility on U.S. financial markets before stocks, the dollar and Treasuries drifted back toward pre-event levels with investors still awaiting details on the Republican’s policy prescriptions. Treasuries rallied, the dollar tumbled more than 1 percent from its high and U.S. stocks erased gains as Trump took the podium around ...

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U.S:Gold holds near six-week highs on safe-haven demand


Gold on Wednesday held near a six-week high hit in the previous session, with economic and political uncertainty boosting its safe-haven appeal. Markets were waiting for indications on policy from U.S. President-elect Donald Trump’s first news conference since the U.S. elections, due later in the day. “The markets are myopic. There are immediate concerns over the global economy, at least ...

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U.S:Fed’s Rosengren calls for gradual, but faster, interest-rate hikes


Boston Fed President Eric Rosengren on Monday called for the U.S. central bank to step up its pace of interest-rate increases from the once-a-year pattern it has pursued since 2015, warning of inflation risks if it does not. “I expect that appropriate monetary policy will need to normalize more quickly than over the past year,” Rosengren said in remarks prepared ...

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Wholesale inventories post biggest rise in two years


U.S. wholesale inventories in November rose slightly more than previously reported, posting their largest gain in two years and suggesting inventory investment would again support economic growth in the fourth quarter. The Commerce Department said on Tuesday wholesale inventories rose 1.0 percent after slipping 0.1 percent in October. That was the largest increase since November 2014. The department reported last ...

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