News Oil 

The energy sector has tumbled 16 percent this year — is it time to buy?

“The energy sector was the only negative sector in the session (and one of two negative for the year, along with telecommunications)” writes Richard Bord for cnbc.com. More pain is ahead for this year’s worst-performing sector, according to strategists who see oil prices dragging energy stocks even lower.Between now and Halloween, he said, oil demand in the U.S. will likely decline by between 800,000 and 1.3 million barrels per day.”Certainly, the fundamentals are pointing toward lower oil prices.Some individual energy names still have decent dividend yields, Gilbert said, and have…

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Trump abruptly ends manufacturing council after CEOs disband strategic and policy forum

“By the time Trump made his statement, several executives had left the manufacturing group this week” writes Andrew Harrer for cnbc.com. In a private phone call Wednesday afternoon, CEOs who were part of a strategic council to Trump agreed to disband the group and condemn Trump’s confrontational response to a violent white supremacist rally in Charlottesville, Virginia. Source: cnbc.com Share This:

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The judge in the Uber-Waymo case suggests Uber lawyers ‘misled the court’

“Waymo still has to prove that Uber used these trade secrets in creating their technology” writes unknown author for cnbc.com. San Francisco district judge William Alsup said in a hearing on Wednesday he’ll likely tell the jury that Uber lawyers “misled the court” and repeatedly withheld key documents, which could give Alphabet self-driving subsidiary Waymo an edge in its lawsuit against the ride-hailing giant. Source: cnbc.com Share This:

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News Oil 

Russian ex-minister accuses Putin lieutenant of framing him

“The case is politically charged because Sechin represents a powerful faction in the Kremlin who favour greater state control over the economy” writes Andrey Rudakov for cnbc.com. A spokesman for Rosneft, the state oil company headed by Sechin, said on Wednesday there was exhaustive evidence to show that Ulyukayev had taken a bribe.The accusation against Igor Sechin, head of Russia’s biggest oil company, thrust into the open simmering tensions between rival Kremlin clans – a spectacle rarely seen in public in the 17 years since Putin first became president. Source: cnbc.com…

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Chinese takeovers of US companies plummet this year amid tough Trump talk

“Increased trade barriers could also incentivize Chinese firms to build more factories directly in the U.S., some analysts said” writes Andrew Harrer for cnbc.com. “The U.S.-China trade relationship will continue to be tense.”. The Dealogic analysts estimate about $9.7 billion in pending Chinese deals to buy U.S. firms could fall under regulatory scrutiny, potentially putting $75 million in advisor fees at risk. Source: cnbc.com Share This:

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A start-up is suggesting a fix to the health-care morass

“There is a regulatory angle: The Affordable Care Act added tens of millions of people to the health care market, and the law created several incentives for start-ups to change how health care is provided” writes Farhad Manjoo for cnbc.com. Trump’s son-in-law, Jared Kushner), which has found ways to mine health care data to create a better health insurance service.He also wants to save the independent primary care doctor, whose practices have been battered by the perverse incentives of the American health care system.In Congress, a doomed plan to repeal…

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News Stocks 

The stock that’s surged 150 percent this year – and could rise even higher

“Out of all the stocks in the broad S&P 1500 index with more than $2 billion in market capitalization, the best performer this year is Scientific Games” writes Richard Bord for cnbc.com. Wieczynski maintains a hold rating on the stock, explaining that “we remain on the sidelines until a better entry point presents itself.”. Good news for the company has come in the form of an uptick in earnings, as well as an improving debt situation. Source: cnbc.com Share This:

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A new $702 Nokia high-end smartphone unveiled ahead of Apple, Samsung launches

“Nokia is also stealing a march on Samsung which is gearing up to reveal the Galaxy Note 8 smartphone next month” writes Arjun Kharpal for cnbc.com. HMD Global, the start-up that licenses Nokia’s brand, launched a flagship smartphone on Wednesday, as it looks to establish itself as a major mobile player using the iconic brand. Source: cnbc.com Share This:

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News Regulators 

Atlanta Fed president: Great Recession caused people to distrust long-term investments

“Atlanta Fed President Raphael Bostic said Wednesday the Great Recession caused people to distrust long-term investments” writes Berkeley Lovelace Jr for cnbc.com. Bostic also said he wouldn’t “anchor” on the Trump administration’s target of 3 percent GDP growth.”There is a psychology going on here, where the Great Recession was so deep and it scarred people so significantly that they are reluctant to trust in long-term investments,” Bostic said in a wide-ranging interview on CNBC’s “Squawk Box.”. Trump pledged to drive U.S. economic growth above 3 percent through tax reform, deregulation…

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