• Oil Surges After Saudis Surprise Market With Additional Cuts
    Bloomberg

    Oil Surges After Saudis Surprise Market With Additional Cuts

    (Bloomberg) -- Oil jumped to the highest since September after Saudi Arabia surprised the market by promising significant additional supply cuts beyond what was agreed to with fellow OPEC+ members.Crude futures rose as much as 2.4% in London and New York as Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said the country would continue its voluntary cut of 400,000 barrels a day. That brings total cuts implemented by the Organization of Petroleum Exporting Countries and its allies to 2.1 million barrels a day, he said.“The comments are what drove the market up,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Mass. “Total cuts are larger and substantially better than what the market was expecting.”The additional supply reduction would take the kingdom’s production down to levels not seen on a sustained basis since 2014, according to data compiled by Bloomberg.After the announcement, Prince Abdulaziz predicted that Saudi Aramco, which just completed an IPO at a valuation of $1.7 trillion, would soon soar above the $2 trillion. The kingdom plans to pump 9.7 million barrels a day, he said. That’s a reduction of about 300,000 barrels a day from its output in November and 100,000 below the year-to-date average, according to data compiled by Bloomberg.West Texas Intermediate for January delivery rose 56 cents to $58.99 a barrel on the New York Mercantile Exchange 11:15 a.m local time.Brent for February settlement gained 75 cents to $64.14 a barrel on the London-based ICE Futures Europe Exchange. The global benchmark traded at a $5.22 premium to WTI for the same month.The oil market faces a tricky patch early next year. Demand growth is slowing and another big expansion in rival production is coming down the pipeline. Together those factors could create another oversupply that drives international prices back down toward $50 a barrel.To contact the reporters on this story: Sheela Tobben in New York at vtobben@bloomberg.net;Alex Longley in London at alongley@bloomberg.netTo contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net, Mike Jeffers, Reg GaleFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Pharma Stock Roundup: FDA Updates for RHHBY, AZN, MRK, No Asbestos in Talc Says JNJ
    Zacks

    Pharma Stock Roundup: FDA Updates for RHHBY, AZN, MRK, No Asbestos in Talc Says JNJ

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  • The Zacks Analyst Blog Highlights: ExxonMobil, Starbucks, Diageo, Fidelity National Information Services and Colgate-Palmolive
    Zacks

    The Zacks Analyst Blog Highlights: ExxonMobil, Starbucks, Diageo, Fidelity National Information Services and Colgate-Palmolive

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  • Zacks.com featured highlights include: Target, Medtronic Public, Arconic, Science Applications International and Bristol-Myers Squibb
    Zacks

    Zacks.com featured highlights include: Target, Medtronic Public, Arconic, Science Applications International and Bristol-Myers Squibb

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  • Target, Gap, Beyond Meat, McDonald's and Costco highlighted as Zacks Bull and Bear of the Day
    Zacks

    Target, Gap, Beyond Meat, McDonald's and Costco highlighted as Zacks Bull and Bear of the Day

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  • ExxonMobil to Commence 31-Well Exploration Program in Guyana
    Zacks

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    ExxonMobil (XOM) has made 14 discoveries at the Stabroek block, wherein recoverable reserves are estimated to be more than 6 billion barrels of oil equivalent.

  • Why We Like McCormick & Company, Incorporated’s (NYSE:MKC) 12% Return On Capital Employed
    Simply Wall St.

    Why We Like McCormick & Company, Incorporated’s (NYSE:MKC) 12% Return On Capital Employed

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    Zacks

    Glaxo Files NDA for Fostemsavir for Heavily Pre-Treated HIV

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  • It's Official: Saudi Aramco to Become the Biggest IPO Ever
    Zacks

    It's Official: Saudi Aramco to Become the Biggest IPO Ever

    Saudi Aramco, which is set to trade on the Riyadh stock market, beat the previous record held by Chinese e-commerce behemoth Alibaba.

  • Here's Why Investors Should Steer Clear of Emerson (EMR)
    Zacks

    Here's Why Investors Should Steer Clear of Emerson (EMR)

    Challenges in the global manufacturing market, high costs and woes related to international operations hurt Emerson (EMR).

  • Here's Why I Think Cintas (NASDAQ:CTAS) Might Deserve Your Attention Today
    Simply Wall St.

    Here's Why I Think Cintas (NASDAQ:CTAS) Might Deserve Your Attention Today

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  • Oilprice.com

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  • McDonald's (MCD) Stock Sinks As Market Gains: What You Should Know
    Zacks

    McDonald's (MCD) Stock Sinks As Market Gains: What You Should Know

    In the latest trading session, McDonald's (MCD) closed at $194.21, marking a -0.05% move from the previous day.

  • Beyond Meat Strikes Costco Deal: Should Investors Buy BYND Stock?
    Zacks

    Beyond Meat Strikes Costco Deal: Should Investors Buy BYND Stock?

    Beyond Meat (BYND) announced Thursday that its plant-based burger patties would appear in select Costco (COST) stores.

  • Top Stock Reports for ExxonMobil, Starbucks & Diageo
    Zacks

    Top Stock Reports for ExxonMobil, Starbucks & Diageo

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  • HR Departments Won’t Stop Harassment by Banning Sex
    Bloomberg

    HR Departments Won’t Stop Harassment by Banning Sex

    (Bloomberg Opinion) -- Mark Wiseman, who was seen by many as a likely heir to BlackRock Inc. Chief Executive Officer Larry Fink, is now out of a job. The details we have are scant. In a memo, Wiseman explained: “I am leaving BlackRock because in recent months I engaged in a consensual relationship with one of our colleagues without reporting it as required by BlackRock’s Relationships at Work Policy.”An additional wrinkle: This consensual relationship was also an extramarital affair. Wiseman is married to Marcia Moffat, head of BlackRock’s Canadian division.Coming on the heels of Steve Easterbrook’s ouster as CEO of McDonald’s Corp. for a consensual relationship with an employee, comparisons are bound to be made. But the two cases are different, and while a line back to the MeToo movement will inevitably be drawn, let’s be clear: Neither of these cases involve allegations of sexual harassment or assault.Both cases are about violating company policy – BlackRock’s rule that relationships must be disclosed, and the McDonald’s rule that no boss can date a subordinate, direct or indirect. Companies can’t let senior leaders get away with violating the rules they’re asking their employees to follow.The question we should be asking, then, is not whether workplace relationships are wrong, but whether HR edicts seeking to control them are a good idea.Such policies seem to have sprung up like mushrooms after the spring rain of MeToo. The problem is that that they seek to do away with the “harassment” part of sexual harassment by controlling the “sexual” part. That’s wrongheaded.In fact, the whole post-MeToo conversation has focused a little too much on sex. (I suppose it’s natural; we’re only human.) In the aftermath of that movement, I fielded somewhat panicked questions from men about whether it was OK to ask a cute co-worker out for coffee or compliment a colleague’s outfit. Such innocent overtures were never the problem.Yet in this overheated environment, corporate HR departments seem to have decided that the best way to protect their firms from liability, and perhaps clarify some matters for a few confused men, would be to draw a bright line: No sex with colleagues. Or: No sex with colleagues less powerful than you. Or: No sex with colleagues, or colleagues less powerful than you, unless you tell HR about it. (And what could have a more libido-deflating effect than imagining that particular meeting?)This all seems needlessly Victorian – and tough to implement besides. When exactly are you supposed to disclose your new paramour to HR? Do you need to ask your boss’s permission before you start flirting? Do you have the “Are we boyfriend and girlfriend?” conversation before or after the “Are we HR official?” chat?The fact is, Americans work long hours, and lots of us are obsessed with our jobs. The more time we spend at work, the less likely it is we’ll meet someone outside corporate HQ. Estimates vary, but a significant number of people meet their spouses at work.With work and sex both being fairly central parts of the human experience, it’s inevitable that they’ll occasionally overlap. And it’s really none of HR’s business, though I realize they always like to have a seat at the table.Moreover, as such assortative mating increases and two-career couples become more common, more companies see recruiting top talent as a double act rather than a solo show. In high-flying careers where relocation is the norm, it’s no longer unusual for organizations to recruit both members of a power couple.That development represents progress for women, who are still much more likely to be the trailing spouse. If HR departments seek to ban sex, I worry it will curtail this promising development.HR departments don’t need to ban sex (impossible) in order to ban harassment (imperative). They should focus less on prurient details and more on punitive tactics. Colleagues shouldn’t bully, coerce or browbeat each other, regardless of whether such behavior has a sexual undercurrent. Company policies that clearly delineate what constitutes harassment and protect employees would have a much better result than attempts to track their sex lives.To contact the author of this story: Sarah Green Carmichael at sgreencarmic@bloomberg.netTo contact the editor responsible for this story: Brooke Sample at bsample1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Sarah Green Carmichael is an editor with Bloomberg Opinion. She was previously managing editor of ideas and commentary at Barron’s, and an executive editor at Harvard Business Review, where she hosted the HBR Ideacast. For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Are McDonald's Corporation (NYSE:MCD) Investors Paying Above The Intrinsic Value?
    Simply Wall St.

    Are McDonald's Corporation (NYSE:MCD) Investors Paying Above The Intrinsic Value?

    Does the December share price for McDonald's Corporation (NYSE:MCD) reflect what it's really worth? Today, we will...

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    Zacks

    Zacks Market Edge Highlights: AAPL, GM, MSFT, SHW and VOO

    Zacks Market Edge Highlights: AAPL, GM, MSFT, SHW and VOO

  • Emerson Electric (EMR) Down 0.1% Since Last Earnings Report: Can It Rebound?
    Zacks

    Emerson Electric (EMR) Down 0.1% Since Last Earnings Report: Can It Rebound?

    Emerson Electric (EMR) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

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    Zacks

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    EIA's Weekly Petroleum Status Report shows a much bigger-than-expected drawdown in oil inventories, ending several consecutive weeks of builds.

  • J&J Stock Witnesses Volatility in '19: What to Expect in 2020
    Zacks

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    Zacks

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    Urbanization and population growth leads to waste generation. However, this provides an opportunity for waste management companies to grow.

  • Johnson & Johnson (JNJ) Outpaces Stock Market Gains: What You Should Know
    Zacks

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    Johnson & Johnson (JNJ) closed the most recent trading day at $139.38, moving +1.62% from the previous trading session.