The wall of wall street

Goldman Sachs raised its oil price forecasts for 2020, citing tighter-than-expected inventories after the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to deepen oil output cuts through the first quarter of next year. "We are increasing our forecast for backwardation in 2020 although our long-term marginal cost forecast remains unchanged," Goldman analysts wrote in a note dated Dec. 6. The bank revised its Brent spot price forecast to $63 per barrel for 2020, up from a previous estimate of $60, while it also increased West Texas Intermediate (WTI) spot price outlook to $58.5 per barrel from $55.5. Brent futures were down 0.3 per cent at $64.19 per barrel, as of 0632 GMT, having risen sharply last week after OPEC and its allies agreed to deepen output cuts. Oil producers led by Saudi Arabia and Russia, agreed on Thursday to cut output by an extra 500,000 barrels per day (bpd) in the first quarter of 2020 but stopped short of pledging action … [Read more...] about Goldman raises 2020 oil price view on OPEC-led inventory tightness

Goldman Sachs raised its oil price forecasts for 2020, citing tighter-than-expected inventories after the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to deepen oil output cuts through the first quarter of next year. "We are increasing our forecast for backwardation in 2020 although our long-term marginal cost forecast remains unchanged," Goldman analysts wrote in a note dated Dec. 6. The bank revised its Brent spot price forecast to $63 per barrel for 2020, up from a previous estimate of $60, while it also increased West Texas Intermediate (WTI) spot price outlook to $58.5 per barrel from $55.5. Brent futures were down 0.3 per cent at $64.19 per barrel, as of 0632 GMT, having risen sharply last week after OPEC and its allies agreed to deepen output cuts. Oil producers led by Saudi Arabia and Russia, agreed on Thursday to cut output by an extra 500,000 barrels per day (bpd) in the first quarter of 2020 but stopped short of pledging action … [Read more...] about Goldman raises oil forecast on Opec output cuts

BENGALURU: Amazon is halting the use of an important tool called “search-seeding” that helped decide which products appear first in searches on its India marketplace. Two sources aware of the development said “search-seeding”, as it is called by Amazon executives, has over the past few months been disabled on Amazon India. Search-seeding boosted the chances of products appearing on the coveted first page of results, once a consumer looked for a certain product. Amazon India, on its part, has said, “it does not provide any tool to sellers that can manipulate the ranking of shopping results”. The step comes at a time when e-tailers in India, and across the world, are facing rigorous regulatory scrutiny over various practices, particularly over having lopsided contracts favouring some merchants. A merchant, who sells independently on the marketplace and also supplies to Amazon-backed seller firms, said he has used seeding to improve search … [Read more...] about Amazon India halts ‘search-seeding’

Mumbai: After witnessing volatility, markets on Monday (December 9) ended with marginal gains. The Sensex closed up 42.28 points at 40,487.43, while Nifty ended up 15.50 points at 11,937. Major gainers on the Nifty were Axis Bank, BPCL, HDFC, Adani Ports and Maruti Suzuki, while TCS, HCL Technologies, Cipla, L&T and Zee Entertainment were losers. About 1034 shares advanced today, 1431 shares declined, while 169 shares remain unchanged. Among sectors, buying saw in the metal, auto, energy, and infra stocks, while IT and FMCG witnessed selling pressure.  During early hours on Monday, equity benchmark indices were flat with auto and metal stocks in focus. At 10:15 am, the BSE S&P Sensex was up by 21 points to 40,466, while the Nifty 50 edged higher by 11 points at 11,933. Among stocks, Hindalco was up by 2 per cent at Rs 201.90 per share, while Vendanta added gains of 1.3 per cent. Tata Steel traded higher by 1.2 per cent and JSW Steel by 0.9 per cent. Auto major Maruti … [Read more...] about Sensex closes up 42.28 points, Nifty ends at 11,937.50; Axis Bank, BPCL, HDFC shine

        New Delhi: Even after twenty years since a massive blaze in a transport company godown storing chemical containers killed as many as 57 people in the overcrowded Lal Kuan’s Gali Mir Jumla in the Walled City, life has not changed much for residents here. Till date, the place does not have a fire station – a long pending demand, much warranted by its clogged, narrow hardware market, rickety buildings brimming with workers and merchandise, and a hanging web of high-tension cables.The godown – 1901, Hanuman building, Lal Kuan – now houses Gujrat Machinery, a wholesale kitchen appliances shop. The memories of bodies charred beyond recognition lying scattered on the streets on the afternoon of May 31, 1999 were refreshed by the blaze in a five-storey building at the nearby Ananj Mandi (four kms away) on Sunday morning that left 43 dead.Mohammad Nafis, a resident and a social worker, who got lucky that May afternoon and had escaped the … [Read more...] about Lal Kuan: 20 yrs on, fire station still a distant dream for locals