Business

Oil slides on worries Middle East rift will undermine output cuts

Oil slides on worries Middle East rift will undermine output cuts

US West Texas Intermediate (WTI) crude was at US$47.45, up 5 cents, or 0.1 per cent. The U.S. Department of Energy on Tuesday signaled it is now more confident that U.S. Overnight, crude futures tumbled to settle lower after Saudi Arabia and other Arab states severed diplomatic ties with Qatar , fueling concerns about a disruption to the global deal to curb the glut supply.



Lesley Laird appointed new shadow Scottish secretary

Mr Murray, who was Labour's only Scottish MP until last Thursday, resigned as Scottish Secretary previous year in protest at Mr Corbyn's leadership,
later accusing him of "killing the Labour Party" over his neutral stance on a second Scottish independence referendum.



Fed Raises Key Interest Rate For 4th Time Since 2015

The monthly aggregate run-off caps will rise by $US10 billion each quarter, until the balance sheet trimming hits $US50 billion a month after a year. It foresees one additional rate hike this year, unchanged from its previous forecast. Gold futures have climbed 11 percent this year amid growing doubts that President Donald Trump's economic agenda, including tax cuts, will make it through Congress.


US retail sales slide 0.3 percent, biggest drop in 16 months

US retail sales slide 0.3 percent, biggest drop in 16 months

U.S. retail sales rose 3.8% in May on an annual basis. In real terms, personal expenditures continue to be in good stead and is likely to grow by about 3 percent in the second quarter, noted TD Economics. U.S. department store sales tumbled 1%, the largest drop since July 2016. They declined 1% in May, the worst performance in almost a year. Department store sales are being undercut by online retailers, led by Amazon.com, which has led some retailers, including Macy's, Sears and Abercrombie ...