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  • IEA chief says oil price bottoming depends on global growth - News - 104.5 & 96.1 The Point Sheboygan's Hit Music
    to more than 700 000 barrels per day this year and production outages such as in Nigeria and Kuwait have driven the rally Birol told Reuters on the sidelines of the Group of Seven energy ministers meeting in Kitakyushu southwestern Japan Asked if oil prices had bottomed out he said It may well be the case but it will depend on how the global economy looks like In a normal economic environment we will see the price direction is rather upwards than downwards We believe under normal conditions towards the end of this year second half of this year but latest 2017 markets will rebalance Birol said he hopes to see a rebound in upstream oil investments next year following a 40 percent curb in investments over two years Non OPEC output is set to fall by more than 700 000 barrels per day this year the biggest decline in around 20 years he said What we would like to see is after a big decline in 2015 and 2016 there will be a rebound in investments in 2017 and bringing investments to the level of 600 billion once again he said Birol said a third year of decline in investments would be problematic for oil markets as it could cause oil price spikes and increase volatility which would not be good for consumers With global oil demand seen growing by 1 2 million bpd this year the draw in global oil stockpiles will start soon which will help push up oil prices he said I think the trend is that there s a decline of stocks worldwide and the stock building rate is slowing down considerably and we expect towards the end of this year stock draw will start to kick in he said Birol said that despite the

    Original URL path: http://wxerfm.com/news/articles/2016/may/01/iea-chief-says-oil-price-bottoming-depends-on-global-growth/ (2016-05-01)
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  • China trains 'fishing militia' to sail into disputed waters - News - 104.5 & 96.1 The Point Sheboygan's Hit Music
    The training which includes exercises at sea takes place between May and August and the government pays fishermen for participating he said Government subsidies encourage fishermen to use heavier vessels with steel as opposed to wooden hulls The government has also provided Global Positioning Satellite equipment for at least 50 000 vessels enabling them to contact the Chinese Coast Guard in maritime emergencies including encounters with foreign ships industry executives said Several Hainan fishermen and diplomats told Reuters some vessels have small arms When a particular mission in safeguarding sovereignty comes up government authorities will coordinate with the fishing militia the advisor said asking them to gather information on the activities of foreign vessels at sea ROW WITH INDONESIA That coordination was evident in March when Indonesia attempted to detain a Chinese fishing vessel for fishing near its Natuna Islands in the South China Sea A Chinese coast guard vessel quickly intervened to prevent the Indonesian Navy from towing away the fishing boat setting off a diplomatic row Beijing does not claim the Natunas but said the boats were in traditional Chinese fishing grounds China claims almost all of the South China Sea The Philippines Malaysia Vietnam Taiwan and Brunei also have conflicting claims over the islets and atolls that constitute the Spratly Archipelago and its rich fishing grounds State controlled fishing companies dominate the fleets that go regularly to the Spratlys and are recipients of much of the militia training and subsidies industry sources said China has by far the world s biggest fish industry but depleted fishery resources close to China s shores have made fishing in disputed waters an economic necessity fishermen and industry executives say State owned Hainan South China Sea Modern Fishery Group Company says on its website it is both military and commercial both soldiers and civilians One of its aims the company says is to let the Chinese flag fly over the Spratlys Defending sovereignty is primarily the government s concern said Ye Ning the company s general manager in an interview at his office in Haikou But of course regular folks being able to fish in their own countries waters should be the norm That goes for us too The company provides fishermen who sail to the Spratlys with fuel water and ice and then purchases fish from them when they returned according to a written introduction to the company s work executives provided to Reuters LOT MORE RISKY It s gotten a lot more risky to do this with all kinds of foreign boats out there said Huang Jing a local fisherman in the sleepy port town of Baimajing where a line of massive steel hulled fishing trawlers stretches as far as the eye can see But China is strong now he said I trust the government to protect us Chen Rishen chairman of Hainan Jianghai Group Co Ltd says his private but state subsidized company dispatches large fleets of steel hulled trawlers weighing hundreds of tonnes to fish near the

    Original URL path: http://wxerfm.com/news/articles/2016/may/01/china-trains-fishing-militia-to-sail-into-disputed-waters/ (2016-05-01)
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  • Facing long odds in California, Cruz courts state's Republicans - News - 104.5 & 96.1 The Point Sheboygan's Hit Music
    White House Now mathematically eliminated from securing the nomination on the first ballot at the party s convention in Cleveland in July Cruz aims to stop Trump from receiving the 1 237 delegates needed to win the nomination outright forcing a contested convention However the prospect of him being able to do so has grown increasingly slim Trump a billionaire businessman and former reality TV star has continued to notch up wins in the nation s nominating contests including a five state sweep of the latest string of contests last Tuesday Cruz has downplayed the severity of the losses and in his speech Saturday looked forward to upcoming contests which he has said will put him on the path to thwarting Trump California is going to decide this Republican primary he said referring to the state s June 7 contest Trump has been at odds with the party s establishment and has called the system for nominating its candidate rigged Critics say he has played on the fears of his supporters especially about immigration by proposing a temporary ban on Muslims entering the country and accusing illegal Mexican immigrants of being rapists and criminals On Thursday and Friday anti Trump protests erupted outside the candidate s California events On Friday he was forced to halt his motorcade and go through a back entrance to a hotel to give a speech to the convention and avoid several hundred loud protesters gathered outside Cruz hopes to slow Trump s march toward the nomination in Indiana s primary on Tuesday The state awards its 57 delegates on a winner take all basis by congressional district possibly granting Cruz a windfall of pledged delegates A Real Clear Politics polling aggregation in the state shows Cruz just behind Trump 35 2 percent to 37 5

    Original URL path: http://wxerfm.com/news/articles/2016/apr/30/facing-long-odds-in-california-cruz-courts-states-republicans/ (2016-05-01)
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  • Business News - 104.5 & 96.1 The Point Sheboygan's Hit Music
    Reuters Daimler has hired auditor Deloitte Touche Tohmatsu to help with an internal investigation into its diesel engine e Air France KLM to name Jean Marc Janaillac as new CEO source Saturday April 30 PARIS Reuters Air France KLM s board is to appoint Jean Marc Janaillac as the Franco Dutch airline group s next chief executive on T United Airlines cuts COO Hart s pay by 1 million over Port Authority probe Friday April 29 Reuters United Continental Holdings Inc said in a proxy statement Friday that it cut the pay of one of its top officers in connectio With weak earnings in tow focus turns to jobs data Friday April 29 By Laila Kearney NEW YORK Reuters Coming off a barrage of flimsy company earnings reports that included Apple s first revenue drop in Puerto Rico government bank reaches debt deal with some credit unions Friday April 29 By Nick Brown SAN JUAN Reuters Puerto Rico s Government Development Bank said it has reached a deal with credit unions to avoid defau Berkshire s Clayton sees upturn in business despite critics Friday April 29 By Jonathan Stempel OMAHA Neb Reuters Clayton Homes the mobile home unit of Warren Buffett s Berkshire Hathaway Inc said it is se Facebook hit with lawsuit over plan to issue new stock Friday April 29 By Dan Levine SAN FRANCISCO Reuters A Facebook Inc shareholder filed a proposed class action lawsuit on Friday in a bid to stop the Jean Marc Janaillac tipped as Air France KLM CEO French media Friday April 29 PARIS Reuters The board of Air France KLM is likely to name Jean Marc Janaillac as the Franco Dutch airline group s next chief execut Exclusive Yahoo s bidder shortlist points to cash deal sources Friday April 29 By Greg

    Original URL path: http://wxerfm.com/news/sections/business/ (2016-05-01)
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  • Buffett says Berkshire 'fine' with Trump or Clinton - News - 104.5 & 96.1 The Point Sheboygan's Hit Music
    prices and coal shipments while hailstorms caused losses in Berkshire insurance units Railroad carloading throughout the industry all of the major railroads were down significantly in the first quarter and probably almost certainly will continue to be down for the balance of the year Buffett said Berkshire owns close to 90 businesses in energy insurance manufacturing railroad retail and other sectors and invests well over 100 billion in stocks COKE IS STILL IT The meeting filled a downtown arena and overflow rooms and shareholders could buy products made by Berkshire units at deep discounts in an exhibit hall Buffett suggested that 40 000 people may have shown up for his Woodstock for Capitalists close to last year s record though the meeting was streamed online for the first time At the meeting Buffett and Munger fielded dozens of questions from shareholders analysts and journalists A shareholder proposal for more disclosures on the risks to Berkshire on climate change was overwhelmingly rejected Buffett parried concerns raised by a shareholder and previously by hedge fund manager William Ackman that Berkshire promotes bad health through its roughly 9 percent stake in Coca Cola Co Buffett who consumes 700 calories of Coke a day said it seemed wrong to blame calories alone for rising obesity levels I elect to get my 2 600 or 2 700 calories a day from thingsthat me feel good when I eat them he said including the Cherry Coke and See s peanut brittle he consumed during the meeting That s my sole test Buffett also renewed his defense of Brazilian private equity firm 3G Capital which with Berkshire has a controlling stake in food company Kraft Heinz Co where it has built on its reputation as a ruthless cost cutter Berkshire is seen as a friendlier owner but Buffett said 3G s cuts have been extremely intelligent and did not appear a threat to Kraft Heinz s ability to produce packaged goods Buffett also defended efforts of Berkshire s NV Energy unit to persuade Nevada regulators to reduce subsidies for homeowners there who use solar power prompting Elon Musk s SolarCity Corp to say it would cease activity there Ninety nine percent of our consumers were being asked to subsidize the one percent that had solar units Buffett said I personally think that if society is the one that s benefiting from the reduction of greenhouse gasses that society should pick up the tab Buffett also emphasized his worry that derivatives could cause major risks for most of the world s largest banks if markets were disrupted It is still a potential time bomb he said but added that he was not in the least troubled by Berkshire s big stakes in Wells Fargo Co and Bank of America Corp Buffett also said Geico has been hurt because falling oil prices led to more driving more accidents and more loss claims but said he did not necessarily see the same trends this year He also said there are

    Original URL path: http://wxerfm.com/news/articles/2016/apr/30/berkshire-preliminary-first-quarter-operating-profit-falls/ (2016-05-01)
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  • German finmin criticizes Volkswagen management over bonuses: paper - News - 104.5 & 96.1 The Point Sheboygan's Hit Music
    company into an existence threatening crisis and then defend their own bonuses in a public debate Schaeuble told German weekly Frankfurter Allgemeine Sonntagszeitung That shows that something is not working Volkswagen plans to pay the 12 current and former members of its management board 63 24 million euros 72 44 million for 2015 a year when Europe s largest carmaker posted a record loss due to legal and compensation costs for cheating diesel emissions tests The company withheld a small part of bonus payments but will award them at a later date if certain performance criteria are fulfilled including a recovery of the Volkswagen s share price The bonus payouts have sparked public outrage in Germany and a spat within Volkswagen s supervisory board Lower Saxony VW s second largest shareholder had called for executive bonuses to be scrapped or cut as Europe s largest automaker counts the multi billion euro costs of Dieselgate Joerg Bode a former supervisory board member who had represented Lower Saxony told weekly Welt am Sonntag that ex CEO Martin Winterkorn and his colleagues should pay back the part of the bonuses that had been generated by cost cuts through fraud Current supervisory board member Bernd Osterloh said last week that the carmaker should look beyond contractual obligations and that the management board should volunteer to cut their bonus payments It is also about morals he had said Osterloh also said that the supervisory board should also discuss changes to its own remuneration system once the dieselgate scandal has been resolved As soon as business is back to normal we should think about changing the remuneration system of the supervisory board Osterloh was quoted by Welt am Sonntag as saying A swift change to fixed salaries and abolishing variable pay components tied to dividends would

    Original URL path: http://wxerfm.com/news/articles/2016/apr/30/german-finmin-criticizes-volkswagen-management-over-bonuses-paper/ (2016-05-01)
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  • Daimler hires Deloitte for internal emissions probe - News - 104.5 & 96.1 The Point Sheboygan's Hit Music
    Out of Heaven by Bruno Mars 4 51AM Torches by Daughtry 4 47AM Bad Romance Promo Only clean edit by Lady Gaga News Daimler hires Deloitte for inter Daimler hires Deloitte for internal emissions probe Saturday April 30 2016 4 45 a m CDT FRANKFURT Reuters Daimler has hired auditor Deloitte Touche Tohmatsu to help with an internal investigation into its diesel engine emissions technology requested by the U S Department of Justice the luxury car maker said The investigation is to see if Daimler used devices to manipulate emissions tests and comes after another German carmaker Volkswagen AG admitted installing software that did so Daimler said last week that it was conducting an internal investigation of its certification process for diesel exhaust emissions in the United States at the request of the Justice Department Deloitte staff are combing through documents and emails from staff of Daimler s engine development site in Sindelfingen and its corporate headquarters in Stuttgart German weekly Der Spiegel earlier reported In early April owners of U S Mercedes diesel cars filed a class action saying the vehicles likely contained a defeat device used to cheat emissions testing an accusation that Daimler which owns the carmaker denied The investigation comes six months after the U S Environmental Protection Agency said it would review all light duty diesel vehicles in the United States after Volkswagen s admission that software in its diesel vehicles sold since 2009 allowed them to emit up to 40 times legally allowable pollution Reporting by Andreas Cremer Writing by Arno Schuetze Editing by Robin Pomeroy Comments Top Stories Help Fight Cancer At Relay For Hope At Sheboygan South High Saturday April 30 Sheboygan Man Pleads Not Guilty To Sexual Assault Charges Saturday April 30 Accused Drunken Moped Driver Headed To Trial Saturday April

    Original URL path: http://wxerfm.com/news/articles/2016/apr/30/daimler-hires-deloitte-for-internal-emissions-probe/ (2016-05-01)
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  • Air France-KLM to name Jean-Marc Janaillac as new CEO: source - News - 104.5 & 96.1 The Point Sheboygan's Hit Music
    by Lady Gaga News Air France KLM to name Jean Marc Air France KLM to name Jean Marc Janaillac as new CEO source Saturday April 30 2016 4 04 a m CDT PARIS Reuters Air France KLM s board is to appoint Jean Marc Janaillac as the Franco Dutch airline group s next chief executive on Tuesday to replace Alexandre de Juniac a source close to the matter said on Saturday Frederic Gagey would remain as head of Air France the source said Sixty three year old Janaillac CEO of multi modal transport company Transdev since 2012 first occupied a senior position in the airline industry when he was associate director general at now defunct airline AOM in the late 1990s He is a graduate of France s elite administration school ENA and the HEC business school Air France KLM declined to comment Transdev was not immediately available for comment De Juniac announced his surprise departure to lead the International Air Transport Association IATA earlier this month saying he had achieved his goals of ending losses and reducing debt despite having three years left of his mandate People close to him said de Juniac had been worn down by conflict with the company s powerful unions Others have said de Juniac who served at the treasury under former conservative President Nicolas Sarkozy enjoyed only lukewarm support from the Socialist government over job cuts an issue that could become a headache for his successor Air France KLM s nomination committee on Friday decided to back Janaillac the source said paving the way for his nomination by the board on Tuesday Reporting by Cyril Altmeyer Writing by Ingrid Melander Editing by Richard Balmforth Comments Top Stories Help Fight Cancer At Relay For Hope At Sheboygan South High Saturday April 30 Sheboygan Man

    Original URL path: http://wxerfm.com/news/articles/2016/apr/30/air-france-klm-to-propose-jean-marc-janaillac-as-ceo-source/ (2016-05-01)
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