Business


OPEC, Non-OPEC oil producers extend oil output cut by 9 months

That means US shale may emerge as the deal's biggest beneficiary, a reality that highlights the pressure on the two massive players, Saudi Arabia and Russian Federation, to extend their output agreement-even though so far it hasn't significantly lifted prices or drained a global oversupply of petroleum.


USA launches NAFTA 90-day renegotiation countdown

USA launches NAFTA 90-day renegotiation countdown

President Donald Trump had discussed terminating NAFTA as recently as last month, but had said he would delay such a move after the president of Mexico and the prime minister of Canada urged the United States to renegotiate rather than scrap the deal.



Oil falls as US drilling undermines drive to tighten markets

U.S. West Texas Intermediate for July delivery traded at US$49.67 a barrel on the New York Mercantile Exchange, down 13 U.S. cents, at 2:03 p.m.in Singapore. USA drillers had now added rigs for 19 consecutive weeks, to 722, the highest amount since April 2015 and the longest run of additions on record, said energy services firm Baker Hughes.



NKorean missile launch may be testing rivals, not technology

South Korea says North Korea has conducted nine ballistic missile tests this year, including one in which four missiles were launched on the same day. The secretive defence agency is also believed to be developing missiles and nuclear weapons. Monday's launch was the third ballistic missile launch by North Korea since South Korea's President Moon Jae-in was inaugurated on May 10.



Korean missile lands in Sea of Japan

A PENTAGON chief has warned of "catastrophic" consequences of a war with North Korea as the rogue nation fired another ballistic missile towards Japan. "This launch is a direct violation of the United Nations Security Council resolutions, so we strongly protest to North Korea ". It was launched eastward near the city of Wonsan, 200 kilometres east of Pyongyang , at around 5:39 am (2039 GMT Sunday), the JCS said.



Notable Stock Analysts Ratings Cypress Semiconductor Corporation (CY)

The semiconductor company reported $0.08 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.02 by $0.06. At the time of writing, the First Call consensus price target for the company is $16.00. Therefore 80% are positive. The rating was maintained by Topeka Capital Markets on Friday, May 6 with "Buy". This rating uses a scale from 1 to 5. ON Semiconductor Corp presently has a consensus rating of "Buy" and an average target price of $15.71.