Brent oil breaks above $50 for first time in seven months
Thu, 26 May 2016 06:16:31 -0400
Brent oil futures climbed above $50 a barrel on Thursday for the first time in nearly seven months as a global supply glut that plagued the market for nearly two years showed signs of easing. Oil prices have rallied in recent weeks as a string of outages, due in part to wildfires in Canada and unrest in Nigeria and Libya, knocked out nearly 4 million barrels per day of production. Above $50 a barrel, oil was seen by many market players as breaching a psychological barrier that could lead producers, particularly among U.S. shale companies, to revive operations scrapped in recent years.
10 Things to Know for Today
Thu, 26 May 2016 06:11:15 -0400
Your daily look at late-breaking news, upcoming events and the stories that will be talked about today:
Abe: global economy faces big risks, Japan to press on with 'Abenomics'
Thu, 26 May 2016 06:07:47 -0400
ISE-SHIMA, Japan (Reuters) - Leaders from the Group of Seven industrial powers agreed on Thursday the global economy is facing big risks, and host Japan will push ahead with its growth agenda, said Japanese Prime Minister Shinzo Abe. "Based on these Ise-Shima economic initiatives, we are going to have the G7 promote the Abenomics' three-arrow policy" of bold monetary policy, flexible fiscal spending and structural reforms, Abe told reporters on the sidelines of the first day of a two-day summit in Ise-Shima, central Japan.
APNewsBreak: Rules proposed for school accountability
Thu, 26 May 2016 06:04:59 -0400
WASHINGTON (AP) — Proposed federal guidelines would allow states to decide how to use a mix of test scores, academic growth and other measures like chronic absenteeism to identify failing schools and children who are struggling the most.
Iraqi PM asks protesters to stay home to aid Fallujah push
Thu, 26 May 2016 06:04:55 -0400
BAGHDAD (AP) — Iraq's prime minister appealed on Thursday to Iraqis to postpone weekly Friday protests so that security forces can focus on a key military operation aimed at retaking the city of Fallujah from the Islamic State group.
Germany's Merkel says risks to global economy persist despite growth
Thu, 26 May 2016 05:59:11 -0400
ISE-SHIMA, Japan (Reuters) - Risks to the global economy remain despite signs of stable growth, German Chancellor Angela Merkel said on Thursday, adding that low commodity prices were a problem for many countries. "The world economy is showing signs of stable growth, but there are risks," Merkel said in Japan where Group of Seven leaders are meeting. Turning her attention to European Union sanctions on Russia over its actions in Ukraine, Merkel said it was too early to talk about lifting the punitive measures. (Reporting by Andreas Rinke; Writing by Joseph Nasr; Editing by Caroline Copley)
G7 sees need to send strong message on South, East China Sea disputes
Thu, 26 May 2016 05:59:07 -0400
ISE-SHIMA, Japan (Reuters) - Group of Seven (G7) leaders agreed on Thursday they need to send a strong message on the South and East China Sea in which China is locked in territorial disputes with Japan and some Southeast Asian neighbors. "Prime Minister (Shinzo) Abe led discussion on the current situation in the South China Sea and East China Sea. Other G7 leaders said it is necessary for G7 to issue a clear signal," Deputy Chief Cabinet Secretary Hiroshige Seko told reporters. (Reporting by Kiyoshi Takenaka; Editing by Nick Macfie)
As EU vote looms, migration to Britain nears record high
Thu, 26 May 2016 05:51:44 -0400
By Costas Pitas LONDON (Reuters) - Net migration to Britain reached its second highest level on record in 2015, according to the final set of official data to be released before an EU referendum in which the number of new arrivals from Europe has driven much opposition to the bloc. Net migration, the difference between the number of people entering and leaving Britain, hit 333,000 in 2015, the second-highest level for a 12-month period since records began in 1975, the Office for National Statistics said. The numbers were seized upon by those campaigning for Britain to vote to leave the EU in a June 23 referendum, who have blamed the bloc's freedom of movement rules for high levels of immigration.
UK business investment falls ahead of EU referendum
Thu, 26 May 2016 05:51:37 -0400
By Ana Nicolaci da Costa and William Schomberg LONDON (Reuters) - Business investment in Britain fell in early 2016, a sign that uncertainty caused by the country's impending referendum on European Union membership is weighing on companies. Growth in the economy slowed to 0.4 percent in the January-March period, the Office for National Statistics confirmed on Thursday, and many economists said it might lose further momentum in the second quarter. Business investment fell in annual terms for the first time in three years, depressed by weaker spending on offices and other non-residential buildings.
British academic rejects Israeli prize in "political choice"
Thu, 26 May 2016 05:48:52 -0400
JERUSALEM (AP) — A prominent British academic said Thursday she had turned down a prestigious Israeli award for political reasons, in what looked to be the latest attempt by Western activists to boycott the Jewish state.