Oil futures climbed more than 1 percent on Wednesday to their highest in more than a week as buyers were encouraged by a small weekly decrease in U.S. production and shrugged off a surprise build in crude inventories in the world's top oil consumer. The U.S. Energy Information Administration (EIA) said crude stocks rose 118,000 barrels last week, while weekly production declined 100,000 barrels per day (bpd) to 9.3 million bpd. That was the biggest decline in weekly output since July 2016.
Staples Inc ( SPLS.O ) will announce its sale to private equity firm Sycamore Partners for $10.25 per share in cash on Wednesday, a person familiar with the matter said on condition of anonymity. Reuters had reported last week that Sycamore Partners was close to a deal to acquire Staples for more than $6 billion after prevailing in an auction for the U.S. office supplies retailer.
Southwest Airlines Co ( LUV.N ) said it would reduce the number of flights to Cuba, joining other U.S. airlines, as President Donald Trump's Cuba policy continues to restrict Americans traveling to the country.
Package delivery company FedEx Corp ( FDX.N ) said on Wednesday operations in its TNT Express unit were disrupted after its information systems were hit by a virus attack. FedEx, however, said no data breach was known to have occurred. The company said it was unable to measure the financial impact of the service disruption at TNT, but it could be "material".
A judge on Tuesday ordered the state of Minnesota to fund its legislature until Oct. 1 while litigation challenging a gubernatorial veto works its way through the legal system. Ramsey County District Court Chief Judge John Guthmann also ordered the state Senate to make rent and debt service payments for an office building and parking garage. Democratic Governor Mark Dayton touched off the legal battle with his line-item veto of funding for the Republican-controlled state legislature in the fiscal 2018-2019 biennial budget.
WASHINGTON - Twenty-two million Americans would lose insurance over the next decade under the U.S. Senate Republican healthcare bill, a nonpartisan congressional office said on Monday, complicating the path forward for the already-fraught legislation. After the Congressional Budget Office (CBO) score, Senator Susan Collins, a moderate Republican, said she could not support moving forward on the bill as written.
WASHINGTON - U.S. lawmakers said on Monday, June 26, they did not know when legislation to impose new sanctions on Russia might come up for a vote in the House of Representatives, and the White House said it had concerns about the measure. The legislation passed the Senate by a nearly unanimous margin two weeks ago, looking like it might complicate President Donald Trump's desire for warmer relations with Moscow, where officials have denounced new sanctions.
WASHINGTON - The U.S. Supreme Court on Monday handed a victory to President Donald Trump by narrowing the scope of lower court rulings that blocked his travel ban on people from six Muslim-majority countries and agreeing to hear his appeals in the cases. The court said it would hear arguments on the legality of one of Trump's signature policies in his first months as president in the court's next term, which starts in October.
WASHINGTON - The U.S. Supreme Court on Monday agreed to decide a major case on whether business owners can refuse to service gay couples if they oppose same-sex marriage on religious grounds involving a Christian baker in Colorado who declined to make a wedding cake for two men.
U.S. President Donald Trump acknowledged that a lack of support from four Senate Republicans leaves the party's healthcare overhaul on a "very, very narrow path" to passage, but signaled a willingness to work with them to make changes. "It's not that they're opposed. They'd like to get certain changes. And we'll see if we can take care of that," Trump said in an interview with Fox News that aired on Friday, calling the group of conservative lawmakers "four very good people."