Business


Oil Market Rebalancing At 'Slower Pace

The world's oil glut is likely to persist next year in a blow to efforts by major producers to shore up the oil price by cutting output, according to a leading energy authority. OPEC and other producers have agreed to restrict output and cut production by 1.8 million bpd to March next year to soak surplus crude from the market.



Preds Try To Solve Penguins' Home Ice Edge In Game 5

They grabbed a 2-1 series lead by crushing the Penguins, 5-1, in Game 3 of the Eastern Conference Final. There's the third Stanley Cup - one more than mentor and team owner Mario Lemieux - and the chance to lead the first repeat Cup champs in the salary cap era and first in nearly 20 years.



Amazon is buying Whole Foods for $13.7 billion

The Internet retailer says it's buying the brick-and-mortar fixture in a deal that is valued at $13.7 billion. Whole Foods over the past decade led the move into high-quality, organic food , but its growth in slowed as traditional grocers responded with similar offerings.



Markets Right Now: Grocer stocks plunge on Whole Foods deal

Jon Najarian, co-founder of the Najarian Family Office, told CNBC in an email there was unusual option activity in Whole Foods Market during the month of April. "And this is actually brilliant". The real estate, however, is nice icing on the cake. Kroger fell more than 14%, Target plunged more than 10% and Costco Wholesale Corp.


Saudi Arabia says airspace ban on Qatari flights to protect citizens

Saudi Arabia says airspace ban on Qatari flights to protect citizens

Unlike neighbouring Eritrea, Addis Ababa, however, did not take sides over the Gulf crises but said today it supports Kuwait's initiative to ease the crises. There was no immediate comment from the US. The Gulf state has indicated that it will ask the council to resolve the conflict, one of the sources said, using a dispute resolution mechanism under the 1944 Chicago Convention which is overseen by ICAO.



Congressional Baseball Game carries on, one day after shooting

But a congressional aide-turned-lobbyist, Matt Mika , was shot multiple times and critically injured, and he remained hospitalized. "To the extent that people think this is just a game, they're wrong", Richmond told reporters Thursday. "So, lead us like a gentle shepherd", he said in the clip. "We need to be very careful, to the extent we can, to guard our own rhetoric so it's respectful of one another".