May 28, 2022

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FINANCE MORNING FOR 30TH NOVEMBER 2016

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FINANCE MORNING FOR 30TH NOVEMBER 2016


Deal Or No Deal, OPEC Can’t Win In Fight Against American Frackers
Like celebrating Thanksgiving with a houseful of in-laws, OPEC’s autumn meeting in Vienna brings a combination of joy and dread. Something unexpected usually crops up, but the headlines out of both meetings are about the same year after year: Source: Forbes. Read More.

The 10 Easiest And Hardest Cities For Finding A Job Right Now
As 2016 comes to a close, some people are thinking about their careers and the moves they’re planning to make in the coming year. Those looking to find a new job – and maybe contemplating uprooting themselves to do it – should do some research on which cities offer the best opportunities for work. Source: Forbes. Read More
Delta govt spends N32bn on road construction
ASABA—DELTA State Government, yesterday, said it had spent over N32 billion on road construction from 2015 to 2016. State Commissioner for Works, Mr James Augoye, who disclosed this during a ministerial briefing organised by the state’s Ministry of Information in Asaba, said road development and construction were the backbone for the achievement of the SMART agenda of the government. Source: Vanguard. Read More.

Dollar edges up as U.S. yields resume rise, OPEC meeting awaited
The dollar pared earlier losses against the yen and euro and edged up on Wednesday, as U.S. debt yields resumed their ascent.

The greenback’s gains were limited, however, as traders braced for a meeting by the Organization of the Petroleum Exporting Countries (OPEC) later in the day which could spark volatility in financial markets and weigh on the U.S. currency.

The dollar rose 0.3 percent to 112.690 yen after going as low as 112.060. Source : Reuters. Read More.

Trump picks loyalists for economic posts, Obamacare critic for cabinet
U.S. President-elect Donald Trump chose a former Goldman Sachs banker and a billionaire investor on Tuesday to steer economic policy in his administration and a fierce Obamacare critic to dismantle President Barack Obama’s signature healthcare program.

Republican Trump is expected to name Steven Mnuchin, a former Goldman Sachs partner and Hollywood financier, as his nominee for Treasury secretary, a source said, putting a Wall Street veteran in the top U.S. economic Cabinet post. Source: Reuters. Read More
Saudi Arabia asks Opec to cut world oil supply 5 hours ago
Opec could cut its crude supplies by over a million barrels a day, if Saudi Arabia gets its way at Wednesday’s conference in Vienna. The price of crude has slumped to under $50 a barrel from over $100 a barrel in 2014. Saudi Arabia wants to drive it back up.
This would be first supply cut Opec has made since 2008. However, major oil producers like Iran and Iraq may refuse to go along with Saudi Arabia’s plans. Source :BBC Read More.
Canada approves Trans Mountain, Line 3 pipelines, rejects Northern Gateway
Canada will approve two major pipeline projects, but reject a third proposal, Prime Minister Justin Trudeau has announced.
Kinder Morgan Inc’s Trans Mountain pipeline and Enbridge’s Line 3 pipeline were given the green light by Ottawa.
But the federal government rejected a separate Enbridge project, the Alberta-to-British Columbia Northern Gateway. Source: BBC. Read More.
Oura Ring raises €5 million to take its smart jewelry mainstream
A Finnish startup called Ōura Ring has closed a series A round of €5 million to ramp up production of its smart, health-monitoring jewelry.

Oura Ring’s Series A backers included MIT Media Lab Director Joi Ito, Jaan Tallinn who was Skype’s founding engineer and a cofounder of Kazaa and the Future of Life Institute, along with other finance professionals and tech entrepreneurs who preferred to remain unnamed. Source: Techcrunch. Read More
Labor abuses rife on Indonesia’s palm oil plantations – Amnesty
Children as young as eight are working at plantations that supply palm oil to some of the world’s biggest brands, according to a new report by Amnesty International.
Amnesty’s investigation into plantations in Indonesia also found workers performing dangerous tasks without adequate protection. Others were paid less than the legal minimum wage or exposed to dangerous chemicals. Source: CNN. Read More.
Here’s how to outsmart fake news in your Facebook feed

(CNN)Just because it’s on the internet doesn’t make it true. It seems so simple, but if everyone knew that, Facebook and Google wouldn’t have to pull bogus news sites from their advertising algorithms and people wouldn’t breathlessly share stories that claim Donald Trump is a secret lizard person or Hillary Clinton is an android in a pantsuit. Source: CNN. Read More.
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