Business

Oil prices higher after entering bear market

Futures were little changed in NY after dropping below $40 on Monday for the first time since April. That price also represents a tumble of more than 20 percent from its recent peak above US$50 a barrel in June. Standard Chartered bank said there was "no fundamental justification for recent oil price falls" and that "the global oil market has rebalanced, and US crude supply and inventories are expected to fall".

Business

US crude oil edges back over $40, but oversupply still weighs

The Cushing draw aside, short-covering by those buying oil contracts to close out profitable bearish bets helped prices rebound, traders said. Oil edged higher in Asia Wednesday after industry data showed a decline in USA crude inventories, but prices stayed below $40 a barrel amid ongoing concerns over a supply glut.

Business

Facebook to challenge US bill for back taxes

Facebook, along with tech peers like Apple and Google, has come under fire in recent years for curbing assets in Ireland and other countries that serve as tax havens thanks to their low corporate tax rate. The Internal Revenue Service issued the company a notice of tax deficiency on Wednesday, US time. Although the 2010 period is the focus of this notice, Facebook states the IRS intends to apply its position to succeeding tax years as well.

Business

Google Parent Alphabet Posts Better Than Expected Earnings

Amazon rose 1.8 per cent, pushing up its market capitalization by about $6 billion to around $361 billion. The company had a trading volume of 2,201,612 shares. As a result of a "very clean quarter" with revenue growth and margin expansion, JMP raised the company's price target to $928 from $904 with a "market outperform" rating.

Business

Seriously?! Parents Are Naming Babies After Pokemon Characters

While Pikachu and Jigglypuff may be the most recognizable names in the Pokemon universe, the most popular Pokemon name in the real world is now Roselia . BabyCenter found that Roselia , Eevee and Onyx saw a jump for girls, and Ash , Ivy and Shay for boys. There was a trend of naming babies after Game of Thrones characters thanks to the success of the HBO series with the UK's Office of National Statistics reporting 244 babies named Arya and 53 Khaleesi in 2014.

Business

USA Men's Basketball Trumps China, 106-57

All of the exhibition games will be carried by NBA TV , and also will be streamed live on USA Basketball and NBA Facebook pages. Kevin Durant and Draymond Green are looking to be the league's most dominant backcourt. What Gong wanted before the tip-off is for his 2015 FIBA Asia Championship winners to gain experience against the best, and the US, the team most people expect to capture the gold medal at the Rio de Janeiro Games next month, are certainly that.