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Oil prices decline, stock market rises as trade war fears subside

Oil prices decline, stock market rises as trade war fears subside

Business
March 8 (UPI) -- U.S. crude oil prices were trading lower Thursday and stock index prices moved higher as possible tariff exemptions in Canada and Mexico eased trade war fears.Brent oil futures opened at 64.54 and were trading down 57 cents at 11 a.m. EST.The April crude oil futures started the session at 61.33 and were trading down by 78 cents.The stock market opened with losses but quickly rebounded. The Dow Jones Industrial Average was up 134 points at 9:45 a.m. and eased to being up 31 points at 11 a.m. On Wednesday, the Dow Jones Industrial Average ended 82.76 points lower to 24,801.36 after falling more than 300 points."Today's market action was impacted by the resignation of Gary Cohn. That creates uncertainty," Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, ...
UK inflation rate rises to 3.1%

UK inflation rate rises to 3.1%

Business
Inflation rose to 3.1% in November, the highest in nearly six years, as the squeeze on households continued.The Office for National Statistics (ONS) said that airfares and computer games contributed to the increase.The most recent data shows that average weekly wages are growing at just 2.2%. Mark Carney, the governor of the Bank of England, will now have to write a letter to Chancellor Philip Hammond explaining how the Bank intends to bring inflation back to its 2% target.Mr Carney has to write a letter to the chancellor if the Consumer Prices Index (CPI) inflation rate is above 3% or below 1%.Close to peak?In November, the Bank of England raised its key interest rate for the first time in more than a decade from 0.25% to 0.5%.However, it is not expected to announce a further increase whe...
Iran earthquake survivors plead for help as death toll rises

Iran earthquake survivors plead for help as death toll rises

World
Iranians living outdoors in bitterly cold temperatures after an earthquake are making desperate pleas for help.More than 430 people were killed and about 7,000 injured when the quake hit near the Iran-Iraq border on Sunday.The government is scrambling to get aid to the worst-hit Kermanshah province, where hundreds of homes were destroyed.President Hassan Rouhani, visiting the region, said state-built houses suffered more damage, and those responsible would be held accountable.Temperatures in Kermanshah province fell close to freezing for the second night in succession.Ali Gulani, 42, lives in the province's badly-hit town of Qasr-e-Shirin, and told BBC Persian people were burning crates to try to stay warm."We are living in a tent and we don't have enough food or water," he said. "You can ...
Who will win and lose if interest rate rises?

Who will win and lose if interest rate rises?

Business
It is hard to think of another Bank of England decision that is simultaneously as momentous and as inconsequential as this one.The mere fact that the Bank's Monetary Policy Committee is widely expected to raise interest rates this month is a landmark moment all of its own.It would be the first time rates have been lifted in a decade - a watershed after a period in which borrowing costs dropped to the lowest level on record.And for many economists, it is only the start of a long road that might take rates back up towards a more normal level (though this will almost certainly be lower than the pre-crisis "normal" of about 5%).But, on the basis of other measures, an interest rate rise is likely to have little impact. In part that is because, for all the headlines recently about levels of inde...
CO2 rises at record pace to worst for 3 million years

CO2 rises at record pace to worst for 3 million years

Technology
The amount of carbon dioxide in Earth's atmosphere rose at a record pace in 2016 to the highest level in at least three million years, says the World Meteorological Organisation (WMO).Last year's increase was 50% higher than the average over the past decade.The growth could ultimately lead to a 20-metre rise in sea levels and an increase of three degrees in temperature, the organisation said in its annual Greenhouse Gas Bulletin.Atmospheric concentrations of carbon dioxide (CO2) have now reached 403.3 parts per million (ppm), up from 400.0ppm in 2015.The two other main greenhouse gases, methane and nitrous oxide, also hit record concentrations last year.Image:Emissions from coal are causing CO2 levels to riseScientists say last year's rise in CO2 was due to a combination of human activitie...