News Oil 

Iran’s oil output up 20,000 bpd in Q3: EIA

“TEHRAN- Iran produced 3.83 million barrels per day (bpd) of oil during the third quarter of 2017, with a 20,000 bpd increase from 3.81 million bpd in its previous quarter, according to the latest statistics released by U.S. Energy Information Administration (EIA)” reports tehrantimes.com. In its report titled Short-Term Energy Outlook (STEO) released on December 12, EIA also put Iran’s oil output at 3.8 million bpd in the first quarter of 2017.The country’s oil production in this year’s third quarter also shows increase compared to 3.67 million bpd in the…

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Crypto News 

The Bitcoin Network Faces Another Steep Mining Difficulty Adjustment

“It now seems we will get another major mining difficulty adjustment on Monday” writes Jp Buntinx for livebitcoinnews.com. Another interesting development will take place in the Bitcoin mining sector.In this particular case, Bitcoin mining will grow 15% more difficult in a few days from today.If the hashrate doesn’t increase equal to the mining difficulty next Monday, delays could grow even worse. Source: livebitcoinnews.com Share This:

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News 

There’s been a staggering increase in family arrests at the border

“That 45 percent increase accompanied a 26 percent surge in child migrant apprehensions, from 3,168 to 4,000 over the same one-month span” reports washingtonexaminer.com. Compared to the same period of time in recent years, the 45 percent increase in family unit apprehensions is staggering.The substantial uptick in apprehensions of both unaccompanied children and families has baffled some immigration experts.Numbers released by U.S. Customs and Border Protection on Friday show immigration officials apprehended just over 7,000 family units — consisting of at least one adult and one child — at the…

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News 

GOP offers Marco Rubio a compromise on child tax credit

“When Senate-House negotiators then raised the corporate income tax by one percentage point to lower the top income tax rate, however, Rubio objected” writes Joseph Lawler for washingtonexaminer.com. The Senate-passed version of the bill included a doubling of the child tax credit, to $2,000 per child, a provision supported by Rubio.Republican leaders have offered to increase the refundable portion of the child tax credit to get Sen.Rubio also wanted the credit to apply to payroll tax liability in the case the taxpayer had no income tax liability.Marco Rubio, R-Fla., to…

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News 

US import prices surge in November

“WASHINGTON, Dec 14 (Reuters) – U.S. import prices surged in November amid an increase in the cost of imported petroleum products, leading to the largest year-on-year increase in seven months” reports foxbusiness.com. The Labor Department said on Thursday that import prices jumped 0.7 percent last month after a downwardly revised 0.1 percent gain in October. In the 12 months through November, import prices advanced 3.1 percent, the largest gain since April, after increasing 2.3 percent in October. (Reporting by Lucia Mutikani; Editing by Paul Simao).  Source: foxbusiness.com Share This:

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News 

U.S. import prices leap 0.7% in November on higher fuel costs

“Excluding fuel, import prices were unchanged, the government said Thursday” writes Jeffry Bartash for marketwatch.com. If fuel is omitted, the increase in import prices over the past year was a scant 1.4%.Higher import prices add to picture of slowly rising inflation in the U.S., though much of the gain lately has been driven by fuel.The increase in import prices over the past 12 months rose to 3.1% from 2.3%. Source: marketwatch.com Share This:

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News 

World’s richest 0.1% have boosted their wealth by as much as poorest half

“Bezos, the biggest shareholder in Amazon, has seen his wealth increase by $33bn over the past year alone” writes Rupert Neate for theguardian.com. The researchers noted that “most of that increase in inequality was due to the rise of the top 0.1% wealth owners”.The richest 0.1% of the world’s population have increased their combined wealth by as much as the poorest 50% – or 3.8 billion people – since 1980, according to a report detailing the widening gap between the very rich and poor. Source: theguardian.com Share This:

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News Regulators 

How the Fed Rate Increase Affects Your Mortgage, Car Loan and Credit Card Bill

“Homeowners are not entirely shielded from the impact of a Fed rate increase” writes Tiffany Hsu for nytimes.com. Similar forces are at work for car owners, although the impact is far more muted than it is for credit card and student loan holders.The average American household that carries credit card debt has a balance of about $15,650, according to a recent analysis by the personal finance website Nerdwallet.The latest rate increase could make using plastic slightly pricier.If mortgage rates increase, Americans may be less inclined to buy homes. Source: nytimes.com Share…

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News Regulators 

The Latest: Investors cautious ahead of Fed announcement

“The Latest on the Federal Reserve’s monetary policy meeting (all times local): World stock markets are subdued ahead of an expected interest rate increase from the Federal Reserve” reports foxbusiness.com. However, they will be keeping a close eye on Fed Chair Janet Yellen’s comments during a news conference for signals on how aggressive the Fed might be in raising rates next year.Wall Street was expected to open flat, with futures for the Dow and S&P 500 indexes trading flat.The Fed is widely expected to raise on Wednesday its key interest…

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News 

What Workers and Companies Should Know About the Republican Tax Bills

“The tax bills reshuffle tax burdens within income groups, creating winners and losers, but with no obvious organizing principle behind the changes” reports hbr.org. Both bills would significantly overhaul the corporate income tax, increase the federal budget deficit, and disproportionately benefit upper-income taxpayers.The House and Senate have passed somewhat different versions of major legislation to restructure the federal income tax.But the bills would reduce federal tax receipts by about $1.5 trillion over 10 years.The bills would reduce the federal statutory corporate tax rate to 20%. Source: hbr.org Share This:

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