Business News

Oil Prices Continued a Rollercoaster Ride Last Week

Oil prices continued their rollercoaster ride in the past week.

Last week, the global oil markets saw prices go up and down as traders tracked the investors growing appetite for taking risk, as dollar fluctuated and the market was struck with supply glut concerns.

On Monday last week, crude futures started on the back foot with a slide as US drilling activity increased. Dollar strengthened and gained from better-than expected US jobs report in the past week.

PNC Reports Drop in Second Quarter Earnings Forecasts Modest Growth for Rest of the Year

Pittsburgh based PNC Financial Services Group Inc., which runs the PNC Bank with a major branch in Milwaukee market reported a drop in profits in the second quarter.

The June quarter's net income was $989 million or $1.82 per diluted share. That is down from last year's $1 billion, or $1.88 per share in Q2.

Amazon Video App will Allow Storing Videos on SD Card for Offline Viewing

When it comes to watching video on mobile, many options are open with the easiest being using streaming apps, like Netflix or Hulu.

However, the Amazon Prime members might choose to go with the Amazon Video Android app which is most probable to be installed on the subscriber's device and as Prime comes with an assortment of subscription-included video content which its members can watch.

Al-Futtaimties up with Blue Star for exclusive distributorship in the UAE

Al-Futtaim Technology for Buildings Energy Efficiency Services has announced that it has signed an agreement with Blue Star Ltd for an exclusive distribution rights for the company's air handling units, fan coil units, chillers and variable refrigerant flow (VRF) systems across the United Arab Emirates.

Health of J P Morgan Reflecting through its Hiring Spree

Some worries regarding the Brexit effect on the economy were alleviated after J P Morgan Chase and Co. started the bank earnings season with a brighter note. The better than expected earnings results signal at a strengthening U.S. economy and continued healthy consumer base. Additionally, earlier in the week, the bank announced a planned raise in the minimum wages to as much as $16.50 an hour from $10.15 an hour over the years.

Nevada Based NV Energy Plans to Acquire Calpine Owned South Point Energy Center in Arizona

Las Vegas, Nevada based NV Energy, the leading electric utility in the state said it plans to buy and improve Calpine's South Point Energy Center, a gas-fired power plant in Arizona. According to the public utility company, the move will help it meet future energy demands.

In a filing to the Nevada Public Utilities Commission in the first week of July, NV Energy disclosed its plans of the $75.6 million purchase price along with an investment budget of $21 million South Point Energy Center in Mohave Valley in Arizona.