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Wall Street falls as Fed signals smaller rate cut

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NEW YORK (Reuters) – Wall Street’s main indexes fell on Friday following a report that the Federal Reserve plans to cut interest rates by only a quarter-percentage point at the end of the month. Traders walk on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 16, 2019. REUTERS/Brendan McDermid Read More

Billionaire seeks to replace 40% of Occidental’s board of directors

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7/19/2019 HOUSTON – Carl Icahn formally asked Occidental Petroleum Corp. investors to help him replace four of the company’s 10 directors and potentially push for a sale. Icahn and Occidental Chief Executive Officer Vicki Hollub spoke three times in the last six weeks both by phone and in person to discuss his ideas about corporate Read More

Trump claims he ‘felt bad’ about racist chants at his rally

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Donald Trump has attempted to distance himself from the “send her back” chants aimed at Somali-born congresswoman Ilhan Omar during an election rally. The president has been engaged in an escalating war of words with Ms Omar and three of her Democrat colleagues in recent days, having kicked off the racism row when he told Read More

Japan says ‘seriously concerned’ on Middle East tensions after US announcement on drone

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Tokyo — Japan is “seriously concerned” about rising Middle East tensions in the wake of the US announcement of the shooting down of an Iranian drone in the Strait of Hormuz, Deputy Chief Cabinet Secretary Yasutoshi Nishimura said Friday, as risks to oil flows remain high. Not registered? Receive daily email alerts, subscriber notes & Read More

U.S.-China officials discuss trade; Mnuchin eyes possible in-person talks

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CHANTILLY, France/WASHINGTON (Reuters) – U.S. and Chinese officials spoke by telephone on Thursday as the world’s two largest economies seek to end a year-long trade war, with U.S. Treasury Secretary Steven Mnuchin suggesting in-person talks could follow. Mnuchin and U.S. Trade Representative Robert Lighthizer spoke with their Chinese counterparts over the phone, Lighthizer’s office said Read More

Oil surplus blunting price impact of sanctions, tanker attacks: US State Department’s Iran envoy

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Washington — A global oil surplus has prevented a price spike from both the full reimposition of US sanctions on Iranian oil exports and from Iranian attacks on oil tankers in the Strait of Hormuz, Brian Hook, the US State Department’s special representative for Iran, said in an interview Thursday with S&P Global Platts. Not Read More

Trump says USS Boxer destroyed Iranian drone in Strait of Hormuz

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Washington — A US Navy ship shot down an Iranian drone Thursday in the Strait of Hormuz, President Donald Trump said. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The drone came within 1,000 yards of the ship, the USS Boxer, and ignored “multiple calls to stand down,” Trump Read More

Trump’s tariffs trip up the all-American RV industry

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ELKHART, Ind. (Reuters) – Carrie Gray points to a stack of unwelcome mail on a conference table at the offices of Renegade RV, one of the leading U.S. manufacturers of high-end recreational vehicles. She’s buried in bad news from most of her about 350 suppliers. An assembly line worker works on the production line at Read More

Iran confirms it seized fuel tanker in the Persian Gulf

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By Alex Longley on 7/18/2019 LONDON (Bloomberg) –Oil extended gains after Iran confirmed it had seized a foreign oil tanker in the Persian Gulf earlier this week. Brent crude gained as much as 1.3%, reversing some of the heavy losses the global benchmark suffered in the previous two sessions. Iran’s Revolutionary Guards said it captured Read More