EIA forecasts U.S. shale oil output to climb by 49,000 barrels a day in August
Crude-oil production from seven major U.S. shale plays is forecast to climb by 49,000 barrels a day in August to 8.546 million barrels a day, according to a report from the Energy Information Administration released Monday. Oil output from the Permian Basin, which covers parts of western Texas and southeastern New Mexico, is expected to see an increase of 34,000 barrels a day in August from July. Shale oil output from the Anadarko and Eagle Ford regions, however, are expected to see slight monthly declines, the report showed. The August contract for West Texas Intermediate oil CLQ19, -1.25% was trading down 64 cents, or 1.1%, at $59.57 a barrel ahead of its settlement on the New York Mercantile Exchange.
Treasury's Mnuchin says deal to raise U.S. debt ceiling getting closer
WASHINGTON, July 15 (Reuters) – U.S. Secretary Steven Mnuchin said on Monday the administration and Congress are getting close to a deal on raising the U.S. debt ceiling and he has urged lawmakers to take action on the issue before their August recess.
“I think there is a preference on both parties, to the extent that we can agree on the debt ceiling and a budget deal, that that is the first choice, and I think that we’re getting closer,” Mnuchin told reporters during a briefing at the White House.
Ferrovie picked Atlantia for Alitalia rescue – Deputy PM
MILAN, July 15 (Reuters) – Italy’s State Railways Ferrovie dello Stato picked motorway operator Atlantia as a partner to join a consortium of investors for the rescue of national carrier Alitalia, Deputy Prime Minister Luigi Di Maio said on Monday.
Di Maio added in message posted on Facebook that the choice of Atlantia did not mean the government would step back from its plan to revoke the group’s motorway concession after the collapse of a bridge last year in Genoa, that killed 43 people. (Reporting by Giulio Piovaccari, editing by Silvia Aloisi)
Brazil's Monashees to raise $250 million to invest in startups
SAO PAULO (Reuters) – Brazilian venture capital firm Monashees said on Monday it plans to raise $250 million to increase investments in startups in Latin America.
Founded in 2005 by Eric Acher and Fabio Igel, Monashees currently invests alongside other international funds in the delivery startups Rappi and Loggi, as well as in the mobility group Grow and the fintech Neon, among others.
Monashees previously invested in the ride-hailing firm 99, a rival of Uber Technologies whose control was acquired in January 2018 by China’s DiDi Chuxing for around $1 billion.
Police say Greek man has been detained in relation to an American scientist's death
- A Greek man has been detained for questioning in relation to the death of an American scientist.
- Suzanne Eaton, a molecular biologist, was in Crete for a conference when she went missing in early July.
- Visit Business Insider’s homepage for more stories.
ATHENS, Greece (AP) — Police say a Greek man has been detained for questioning in the killing of an American scientist on the island of Crete.
Authorities said the 27-year-old man held Monday was one of 10 people interviewed over the weekend for the investigation of Suzanne Eaton’s slaying.
Eaton, a 59-year-old molecular biologist, was attending a conference on Crete when she went missing on July 2. Her body was found a week ago.
A coroner has said her death resulted from a criminal act but not provided details. Homicide detectives traveled from Athens to the island to head the investigation.
Eaton was from California but living and working in Germany when she was killed.
To Break Google’s Monopoly on Search, Make Its Index Public
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Recognition is growing worldwide that something big needs to be done about Big Tech, and fast.
More than $8 billion in fines have been levied against Google by the European Union since 2017. Facebook Inc., facing an onslaught of investigations, has dropped in reputation to almost rock bottom among the 100 most visible companies in the U.S. Former employees of Google and Facebook have warned that these companies are “ripping apart the social fabric” and can “hijack the mind.”
US STOCKS SNAPSHOT-S&P 500 closes flat as earnings season starts
July 15 (Reuters) – The benchmark S&P 500 index ended little changed in a choppy session on Monday after Citigroup Inc kicked off the second-quarter earnings season with a mixed report.
The Dow Jones Industrial Average rose 26.59 points, or 0.1%, to 27,358.62, the S&P 500 gained 0.51 point, or 0.02%, to 3,014.28 and the Nasdaq Composite added 14.04 points, or 0.17%, to 8,258.19. (Reporting By April Joyner; editing by Jonathan Oatis)
JB Hunt Transport Services Inc. Earnings Decline In Q2
JB Hunt Transport Services Inc. (JBHT) announced a profit for second quarter that declined from last year.
The company’s profit totaled $133.63 million, or $1.23 per share. This compares with $151.65 million, or $1.37 per share, in last year’s second quarter.
Analysts had expected the company to earn $1.35 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 5.6% to $2.26 billion from $2.14 billion last year.
JB Hunt Transport Services Inc. earnings at a glance:
-Earnings (Q2): $133.63 Mln. vs. $151.65 Mln. last year.
-EPS (Q2): $1.23 vs. $1.37 last year.
-Analysts Estimate: $1.35
-Revenue (Q2): $2.26 Bln vs. $2.14 Bln last year.