Weekly U.S. Oil Rig Count: Horizontal Rigs As Far As The Eye Can See...
This week's report brings the largest increase in horizontal rigs since November of last year, with a corresponding large increase in the U.S. oil rig count. Whereas last week's report showed a relatively large decline in oil rigs, as we noted in our analysis, these were very low quality rigs and the trend pointed to an acceleration in the rate of new rig additions. Crude oil prices (NYSEARCA: USO) increased by about $1 per barrel after the release probably because of the 4th of July weekend and..>> view originalUS stock indexes end strong week with tiny gains
U.S. stock indexes marked their fourth consecutive gain Friday, an upbeat finish for a week that got off to a turbulent start as investors fretted about Britain’s vote to leave the European Union. In the days since the two-day market tumble ended on Tuesday, the U.S. stock market came close to regaining all the ground lost since the vote last week. It ended the week up 3 percent, its biggest weekly gain since November. The main stock indexes in Europe posted even bigger gains this week, with Br..>> view originalMurray Energy Warns of Massive Layoffs
Murray Energy Corp., the largest privately held coal miner in the U.S., has warned that it may soon undertake one of the biggest layoffs in the sector during this time of low energy prices. In a notice sent to workers this week, Murray said it could lay off as many as 4,400 employees, or about 80% of its workforce, because of weak coal markets....>> view originalInvestigators Say Voice Recording From EgyptAir Crash Intact
CAIRO — Egyptian investigators say that the memory chips of the cockpit voice recorder of the EgyptAir flight that crashed in May are intact, allowing access to the recordings.In a Saturday statement, they say the "test results were satisfactory as it enabled the reading of the recorders of the CVR memory unit," in France, where the plane's so-called black boxes are being examined.The flight from Paris to Cairo crashed into the Mediterranean, killing all 66 people on board, for reasons that re..>> view originalHyperloop One Replaces Co-Founder Brogan BamBrogan with Senior Vice President of Engineering Josh Giegel
Hyperloop One Inc. on Friday announced an executive shake-up, replacing one of the startup’s founders with its senior vice president of engineering, just as it faces a critical juncture in bringing its high-speed transport technology to life. Hyperloop One said it has promoted Josh Giegel to president of engineering. Mr. Giegel, who joined the company in November 2014, is taking over from Brogan BamBrogan, who as chief technology...>> view originalUS Construction Spending Surprises with 0.8% Slip in May
| Share | Share | Share | Share The total nominal value of construction spending put in place in the U.S. fell 0.8% in May to a seasonally adjusted annual rate of $1,143.3 billion from a downwardly-revised estimate of $1,152.4 billion in April. The May report included annual revisions dating back to January 2014. Back-to-back negative construction spending readings in April and May suggest the second quarter will be weak. Moreover, declines are broadly based with much of the weak..>> view originalWhy David Cameron Must Split the Tories, Start New Party To Save Britain
This article was originally published on The Conversation. Read the original article.Dear Mr Cameron,As you know, you are responsible for the most disastrous development in the UK’s political and economic history since 1945. Your error has been far more serious than Eden’s at Suez. His foray into latter-day gunboat diplomacy failed to achieve its own objectives and accelerated the loss of Empire, but it did not pose the existential threat to the UK’s future that your Brexit does. Try Newsweek f..>> view originalCuomo's Start-Up NY program creates only 408 jobs so far
A signature job creation program created by Democratic Gov. Andrew Cuomo has generated only 408 new jobs in its first two years, according to a state report quietly published on a state website Friday evening.The program, Start-Up NY, uses tax-free zones at colleges and universities to attract companies. The report says 159 businesses and their employees have received $1.19 million in tax benefits so far while investing $13 million in the economy. The state also set aside up to $175 million for..>> view originalUS factory data, auto sales improve, construction spending slips
WASHINGTON U.S. factory activity expanded at a healthy pace in June as new orders, output and exports rose, new industry data showed on Friday, providing another sign that U.S. economic growth was regaining its footing after weakness early this year.Automakers reported higher June sales amid strong demand for pickup trucks and sport utility vehicles, but on an annualized basis, the June industry selling rate came in at 16.66 million units, well below May's sales pace of 17.45 million.Ford Moto..>> view originalChipotle acts quickly after exec indicted on drug charge
After a rocky relationship with customers, Chipotle is trying something new to win them back. Keleigh Nealon (@keleighnealon) has the story. Buzz60A Chipotle executive has been put on administrative leave after a drug-buying indictment(Photo: Keith Srakocic, AP)After news broke that an executive was indicted on a drug charge, his employer, Chipotle, quickly put Mark Crumpacker on administrative leave.That was the prudent move to allow the beleaguered seller of Mexican fare to focus on i..>> view original
Saturday, July 2, 2016
Weekly U.S. Oil Rig Count: Horizontal Rigs As Far As The Eye Can See... and other top stories.
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