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Saudi Arabia ready to raise oil output further to meet demand
Saudi Arabia is ready to increase its oil output in the coming months to a new record to meet a rise in global demand, despite increased domestic use, a senior state oil company official said on Thursday.
US growth on 3% speed limit: Economist
The US will experience secular stagnation due to demographics and the nature of the recovery, economist Russell Price says.
Lululemon founder to sell remaining stake
Lululemon founder Dennis “Chip” Wilson is selling his family’s remaining stake in the yoga gear maker a year after pushing for board changes. Wilson is selling about 20.1 million shares at $60.95 …
Now Facebook wants to know where you buy your toothpaste
As if it didn’t have enough information on you already, Facebook now wants to know about any business or store you set foot in. Facebook is sending out free Bluetooth beacon devices to any U.S. business that requests one. While reassuring users that the system doesn’t allow businesses to collect any information from people or their phone or change the kind of location information it receives, Facebook can still track
U.S. retail sales jump in May, brighten growth outlook
U.S. retail sales surged in May as households boosted purchases of automobiles and a range of other goods even as they paid a bit more for gasoline, the latest sign economic growth is finally gathering steam.
Applications for US jobless aid remain low at 279,000
The number of Americans seeking unemployment benefits rose slightly last week, yet remained at a historically low level that points to a healthy job market. The Labor Department said Thursday that weekly …
Merkel tells Tsipras to back talk with action
German Chancellor Angela Merkel told Greece’s Alexis Tsipras it’s time to back up his good intentions with the policy action required to release aid.
Whole Foods: New concept to take name of '365' house brand
Whole Foods says it will name its new chain of smaller stores with lower prices after its “365 Everyday Value” house brand. Co-CEO Walter Robb tells The Associated Press that the chain will be …
World oil demand jumps after price slump – IEA
World oil demand will rise much more than expected this year, the International Energy Agency (IEA) said on Thursday, in the latest sign that the collapse in oil prices is helping to boost fuel use. The agency, in a monthly report, raised its forecast for global oil demand growth in 2015 by 280,000 barrels per day (bpd) to 1.40 million bpd, bringing demand this year to almost 94 million bpd.