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Finance

The July retail sales report was strong overall, and so was the core retail sales, which goes into the calculation of GDP, according to Eugenio J. Alemán, senior economist at Wells Fargo Securities. Nonstore Retailers were up 11.5% from July 2016, while Building Materials and Garden Equipment and Supplies Dealers were up 8.3% from a year ago. Sales in July were the highest since December.
  • Justice Dept. announces takedown of dark web drug market

    Justice Dept. announces takedown of dark web drug market

    Finance

    The Justice Department announced Thursday that together with the Federal Bureau of Investigation and global law enforcement agencies, officials had shut down "the largest darknet marketplace in history". "We will continue to find, arrest, prosecute, convict and incarcerate criminals, drug traffickers and their enablers, wherever they are". Cazes, who allegedly went by the nicknames "Alpha02" and "Admin", reportedly committed suicide while still in custody in Thailand.
  • Trump says he would invite Putin to White House, but not now

    Trump says he would invite Putin to White House, but not now

    Finance

    Trump, a Republican , last week drew criticism from Democrats who accused him of not pressing Putin hard enough at a meeting they held in Germany over Moscow's alleged interference in the 2016 USA presidential campaign. "Each of us standing here is asking House Republicans to take a stand", Watson Coleman said. With the bill stalled, House Democrats looked to push past the procedural problem Wednesday by introducing an identical version of the Senate's bill.
  • Hyperloop One completes what CEO calls 'Kitty Hawk' moment

    Hyperloop One completes what CEO calls 'Kitty Hawk' moment

    Finance

    While Hyperloop One has announced several potential routes around the world and many governments have expressed interest in the new form of transportation, the company has yet to formally break ground on its first Hyperloop route. Now, Hyperloop One has a team of 200 workers looking to make it come to fruition. By the time the test took place, the team had reduced the pressure inside the test tube to around five pascals, which it says made it the fourth-largest vacuum chamber in the ...
  • Strong job growth continued in June

    Strong job growth continued in June

    Finance

    Average hourly earnings increased four cents, or 0.2 percent, in June after gaining 0.1 percent in May. In June, 1.6 million persons were marginally attached to the labor force, down by 197,000 from a year earlier. Underemployment, which measures people who want to be working full-time but are not, rose to 8.6% in June from 8.4% in May. The strong payrolls data also helped counter yesterday's slightly disappointing jobless claims figures from ADP .
  • Ibaka re-signs with Raptors for three

    Finance

    Shams Charania of The Vertical reported that the deal will be worth $100M over three years. The $20 million-plus price tag is a fair one in the modern NBA's marketplace for Ibaka, even if he has slipped defensively since his heyday as a potential franchise cornerstone in the paint during OKC's run to four conference finals in six years.
  • Cyber attack hits Asia: chocolate factory and container port operators among victims

    Cyber attack hits Asia: chocolate factory and container port operators among victims

    Finance

    Several security experts questioned whether the effort to extort victims with computers hit by the virus was the main goal, or whether the unknown hackers behind the attack could have other motives. Petya is still very risky, the Singapore Computer Emergency Response Team (SingCERT) explained as the malware doesn't only encrypt targeted files, but it also stops the computer from loading the operating system.
  • Oil prices up 2 percent on weaker dollar, short covering

    Oil prices up 2 percent on weaker dollar, short covering

    Finance

    The US West Texas Intermediate crude August contract was at $43.72 a barrel by 3:25AM ET (0725GMT), up 35 cents, or around 0.8 per cent. Imports of Saudi barrels into the U.S.so far this month have dropped below one million barrels per day for the first time since last November.
  • Sears closes another 20 stores in the US

    Sears closes another 20 stores in the US

    Finance

    The announcement came after the company was granted temporary court protection from creditors under Ontario's Companies' Creditors Arrangement Act this morning. New tenants were announced for one level of Sears at The Mall in Columbia, including Barnes & Noble and Main Event entertainment complex. A Sears Home store in Calgary is also closing.
  • America's banks are really, really healthy

    America's banks are really, really healthy

    Finance

    Although the banks, including household names like JPMorgan Chase & Co and Bank of America Corp, would suffer $383 billion in loan losses in the Fed's most severe scenario, their level of high-quality capital would be substantially higher than the threshold that regulators demand, and an improvement over last year's level.
  • Amazon buying Whole Foods, making strong move into groceries

    Amazon buying Whole Foods, making strong move into groceries

    Finance

    Amazon's $13.7 billion purchase of Whole Foods means the supermarket, and retailing overall, will never be the same. It reinforces the Amazon interest in the sector and also offers an insight into where they're going. Target tumbled by 10 percent and Walmart was down by 6 percent. Online delivery of groceries so far has been tough for any company to pull off because of customers' concerns about the quality of meat and produce, Wedbush Securities analyst Michael Pachter said.
  • Burned body of Oklahoma minister discovered near his church

    Finance

    Deacon Ordination Service , 4 p.m., Mt. Father's Day Service , 11 a.m., Change Me Ministries and Fellowship, 2310 Fort Ave., our guest speaker will be the Rev. Antonio Logan of New Light Baptist Church in Martinsville; Tuesday, Usher's Ministry Anniversary, Dr. Youth Annual, 2 p.m., Victory in Praise Life Center , 1501 Maple Ave.
  • U.S. oil production seen thwarting OPEC effort to boost prices

    Finance

    However, that optimism seems to be fading amid higher production from the United States and reports of impatience within the OPEC with lower oil price . The nation's shale-oil explorers, who first triggered the glut OPEC is trying to contain, have emerged more efficient from the oil market's three-year slump.
  • Kane silences Scotland's celebration with late leveller for England

    Finance

    Lithuania, who on Saturday lost 2-1 at home to Slovakia , will be Scotland's opponents on 1 September, three days before Strachan's side host bottom side Malta. And they keep coming back again. "We got ourselves into decent positions and didn't quite finish but the objective's to qualify and we still sit top of the group".
  • Oil prices dip on fears Middle East spat could harm OPEC cuts

    Finance

    In other news , on Thursday, crude oil posted a two-sided trade, first rallying after official USA data showed crude inventories fell sharply last week as refining and exports surged to record highs. Rising output from OPEC members, Nigeria and Libya , which were exempted from the output reduction deal, is also undercutting attempts to limit production.
  • EU President warns Trump against Paris climate deal exit

    Finance

    The matter has deeply divided the administration. The White House has declined to comment on those reports , with spokesman Sean Spicer saying only that Trump would make it clear in the "next few days". Moreover, the accord is flexible in the sense that it does not mandate that any nation achieve any particular level of emissions cuts. Accordingly, they are increasingly investing more in green technology.
  • Moody's cuts China's rating on debt fears

    Finance

    A spokesman for the Ministry of Finance said Moody's report "overestimated the difficulties faced by China's economy, and underestimated the Chinese government's capability to deepen the supply side structural reform and moderate expansion of gross demand".
  • Spot for the First Time Ever

    Spot for the First Time Ever

    Finance

    CNN and MSNBC have been competing with their coverage of President Donald Trump's recent controversies, including the investigation into alleged collusion between Trump's campaign and Russian officials. if ever . The once-dominant Bill O'Reilly, who led all of cable news with his show ratings, was forced out in April amid sexual harassment claims .
  • Senate confirms Branstad US Ambassador to China

    Senate confirms Branstad US Ambassador to China

    Finance

    As the longest-serving governor in the U.S.at more than 22 years, Branstad oversaw Iowa throughout the farm crisis of the 1980s that brought financial ruin to many farmers and during the Great Flood of 1993 that inundated communities throughout the Midwest.