U.S. shale executives predict oil production constraints to remain

U.S. shale executives predict oil production constraints to remain
HOUSTON (Reuters) – Drilling curbs by oil producers in the largest U.S. shale field will continue until transport bottlenecks ease and investors stop punishing companies for increasing capital spending, executives at an energy conference said on Thursday. FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. on May 3, 2017. REUTERS/Ernest Scheyder The... Read More

U.S. trade envoys to meet China’s Xi, no decision on deadline extension

U.S. trade envoys to meet China’s Xi, no decision on deadline extension
WASHINGTON/BEIJING (Reuters) – The Trump administration’s top two negotiators in trade talks with China will meet on Friday with Chinese President Xi Jinping, but there has been no decision to extend a March 1 U.S. deadline for a deal, White House economic adviser Larry Kudlow said on Thursday. “The vibe in Beijing is good,” Kudlow told Fox News Channel of... Read More

As Amazon drops New York City project, progressives claim a major coup

As Amazon drops New York City project, progressives claim a major coup
NEW YORK (Reuters) – U.S. Representative Alexandria Ocasio-Cortez wasted no time on Thursday in calling Amazon’s decision to scrap plans to build a major New York outpost with nearly $3 billion in city and state incentives a big victory for progressive politicians. Demonstrators hold signs during a protest against Amazon in the Long Island City section of the Queens borough... Read More

Berkshire trims Apple stake, adds Suncor and Red Hat, exits Oracle

Berkshire trims Apple stake, adds Suncor and Red Hat, exits Oracle
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc said it trimmed its stake in iPhone maker Apple Inc, its largest stock investment, and added positions in Canada’s Suncor Energy Inc and software company Red Hat Inc. FILE PHOTO: The logo of Apple is seen at a store in Zurich, Switzerland January 3, 2019. REUTERS/Arnd Wiegmann Berkshire also appeared to have shed... Read More

Explainer: What’s at stake in U.S.-China trade talks

Explainer: What’s at stake in U.S.-China trade talks
WASHINGTON (Reuters) – U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin are in Beijing this week as Chinese and American negotiators try to hammer out a trade deal to ease a trade war and avert an increase in U.S. tariffs on Chinese goods scheduled for March 2. U.S. Trade Representative Robert Lighthizer, Chinese Vice Premier and lead... Read More

Charlie Munger targets active managers, Elon Musk; praises China

Charlie Munger targets active managers, Elon Musk; praises China
(Reuters) – Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc, on Thursday criticized active fund managers, bankers and even Elon Musk as he urged investors to court simplicity and temper expectations for future returns.Munger, 95, often provoked laughter as he fielded questions at the annual meeting of Daily Journal Corp, the Los Angeles newspaper publishing... Read More

Big hedge funds dumped China stocks, Apple as market tumbled

Big hedge funds dumped China stocks, Apple as market tumbled
NEW YORK (Reuters) – Prominent hedge fund managers sold out of Chinese technology stocks and dumped Silicon Valley giants like Apple Inc and Facebook Inc while global stock markets cratered during the fourth quarter, according to securities filings released on Thursday. FILE PHOTO: An investor watches a board showing stock information at a brokerage office in Beijing, China October 8,... Read More

General Electric scraps plan for 12-story Boston headquarters

General Electric scraps plan for 12-story Boston headquarters
FILE PHOTO: The General Electric logo is pictured on the General Electric offshore wind turbine plant in Montoir-de-Bretagne, near Saint-Nazaire, western France, November 21, 2016. REUTERS/Stephane Mahe/File Photo NEW YORK (Reuters) – General Electric Co scrapped plans for a 12-story headquarters office tower on Boston’s waterfront on Thursday, choosing instead to lease smaller buildings nearby and return $87 million in... Read More

Weakest U.S. retail sales since 2009 cast pall over economy

Weakest U.S. retail sales since 2009 cast pall over economy
WASHINGTON (Reuters) – U.S. retail sales recorded their biggest drop in more than nine years in December as receipts fell across the board, suggesting a sharp slowdown in economic activity at the end of 2018. The shockingly weak report from the Commerce Department on Thursday led to growth estimates for the fourth-quarter being cut to below a 2.0 percent annualized... Read More