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Consumer sentiment in U.S. declines to lowest level in a year

Consumer sentiment declined in September to the lowest level in year as Americans anticipated a weaker economy in face of a global slowdown and turbulent financial markets. Stock market jitters may be shaking some Americans’ confidence in the health of the economy, especially as nations abroad experience growth slowdowns. Sustained improvement in the labor market and low energy prices will help provide a buffer for consumer attitudes, which will garner

IEA sees U.S. oil output collapsing next year on low prices

Lower oil prices will force non-OPEC producers including the United States to cut output by the steepest rate in more than two decades next year, rebalancing an oversupplied oil market, the International Energy Agency said on Friday. The IEA, which advises the world’s biggest economies on energy policy, said global oil demand was poised to climb to a five-year high this year thanks to lower prices. It steeply revised its

IEA sees U.S. oil output collapsing next year on low prices

Lower oil prices will force non-OPEC producers including the United States to cut output by the steepest rate in more than two decades next year, rebalancing an oversupplied oil market, the International Energy Agency said on Friday. The IEA, which advises the world’s biggest economies on energy policy, said global oil demand was poised to climb to a five-year high this year thanks to lower prices. It steeply revised its

Equity funds shed $46 billion in four-week run of outflows: BAML

Investors pulled another $19 billion from equity funds over the past week as they sought safety in government bond funds, which have enjoyed the longest run of inflows in four years, Bank of America/Merrill Lynch said on Friday. The exodus from emerging markets also continued, with losses extending into their ninth week due to sluggish growth and increasingly messy politics in a range of developing countries. Emerging equity funds shed

Equity funds shed $46 billion in four-week run of outflows: BAML

Investors pulled another $19 billion from equity funds over the past week as they sought safety in government bond funds, which have enjoyed the longest run of inflows in four years, Bank of America/Merrill Lynch said on Friday. The exodus from emerging markets also continued, with losses extending into their ninth week due to sluggish growth and increasingly messy politics in a range of developing countries. Emerging equity funds shed

China tells U.S. to stop "groundless" hacking accusations

China reacted angrily on Friday following a call by America’s top intelligence official for cyber security against China to be stepped up, and said the United States should stop “groundless accusations”. Director of National Intelligence James Clapper said the United States must beef up cyber security against Chinese hackers targeting a range of U.S. interests to raise the cost to China of engaging in such activities.

China tells U.S. to stop "groundless" hacking accusations

China reacted angrily on Friday following a call by America’s top intelligence official for cyber security against China to be stepped up, and said the United States should stop “groundless accusations”. Director of National Intelligence James Clapper said the United States must beef up cyber security against Chinese hackers targeting a range of U.S. interests to raise the cost to China of engaging in such activities.