Business

Crude declines nearly 4 percent after no progress on reducing production before OPEC Meeting

Crude declines nearly 4 percent after no progress on reducing production before OPEC

Crude declined nearly four percent as Iran and Saudi Arabia haven’t made progress on talking about freezing production. As the supply remains strong, crude oil prices in the international market declined. As per last reports, LCOc1 was down by 3.7 percent to $45.89 per barrel. Organization of the Petroleum Exporting Countries will meet in few days and decide on next course of action on production.

Stock Markets across the World Rise after Federal Reserve Policy Announcement

Stock Markets across the World Rise after Federal Reserve Policy Announcement

Federal Reserve has held the interest ratesat record low and the stock markets across the world cheered the move from the U.S. authorities. The Federal Reserve policy meeting has given the required trigger to stock markets and investors for at least few more months, till the time next policy meeting is held. Stocks jumped in Hong Kong, Tokyo, India, Australia and the United Kingdom.

Banks could be tested by surprise upheaval like recent Brexit vote, OFR says

Banks could be tested by surprise upheaval like recent Brexit vote, OFR says

Regulators warned that years-long stubbornly low interest rates and expectations that are likely to stay low for upcoming years, have prompted the US banks to move their balance sheets in ways putting them in danger in case rates spike all of a sudden.

Banks have been stocking up on lasting loans, mostly linked to real estate and property development that assure higher results in comparison to the miniscule profits on short-term debt.

Home Prices Continue to Rise across the United States

Home Prices Continue to Rise across the United States

The latest data for S&P CoreLogic Case-Shiller Indices confirmed that the real estate prices across the United States have witnessed a rise over the last 12 months. A rise by 5.1% in the real estate price has been witnessed and it has pushed homes out of limit of many families. The 10-city index recorded 4.3 percent gains over the same period last year.

Uber Records Minimum $1.27 Billion Loss in First Half of Year

Uber Records Minimum $1.27 Billion Loss in First Half of Year

Though Uber Technologies Inc. is not a public company, it gets dozens of its shareholders on a conference call after every three months to reveal report on the ride-hailing giant’s business performance. The report is given by Gautam Gupta, the Head of Finance at Uber. The investors were reported on Friday by Gupta that the company is suffering from losses during the second quarter.

HP Inc’s stock falls despite surpassing Wall Street expectations for third-quarter results

HP Inc’s stock falls despite surpassing Wall Street expectations for third-quarter results

Though HP Inc’s quarterly results have surpassed Wall Street expectations, its stock has fallen by more than 5% in afterhours trading. The company has reported its third quarter net income at $783 million, down 8% from a year back.

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