As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.Health and Scienceread more
Hedge fund titan Leon Cooperman said he's concerned about a shift to the left in the political landscape, which could harm the economy and the stock market.Delivering Alpharead more
The pilot program will deliver food and beverage, over-the-counter medications and other items within minutes, the company said. Prescription deliveries will not be available.Health and Scienceread more
Investor Jim Chanos is betting against GrubHub, and said the food delivery company makes almost nothing per order.Delivering Alpharead more
Billionaire investor Leon Cooperman on Thursday said he believes that the Federal Reserve is "screwing the savers."Delivering Alpharead more
Datadog priced its stock at $27, selling 24 million shares and raising $648 million in its IPO.Technologyread more
"We sell the most mission-critical identity security to the largest global enterprises around the world," says Ping Identity CEO Andre Durand.Marketsread more
More than half of the patients have been younger than 25 and 16% are younger than 18, CDC principal deputy director Anne Schuchat said.Health and Scienceread more
Here's a look inside Apple's flagship Fifth Avenue store, known as the "cube," in New York. It reopens on Friday after being closed since 2017 for renovations.Technologyread more
After countless oil price downgrades, analysts at Goldman Sachs have cut their outlook for the commodity sector as a whole.
Goldman downgraded commodities on Wednesday—including energy, metals, agriculture and livestock—to "underweight" from "neutral" on a 3-month basis.
"Despite the large declines in commodity prices, we see risks as still skewed to the downside over the near-term. Lower oil prices are also driving cost deflation across the broader commodity complex," Goldman strategists led by Christian Mueller-Glissmann said in a research note.
The strategists forecast WTI crude oil prices would remain at around $40 per barrel for most of the first half of the year, which would "slow supply growth, keep further capital investment in U.S. shale sidelined, and
"We think the oil market is experiencing a marginal cost re-basement," they said.
Mueller-Glissmann and colleagues forecast that "balance" would return to global oil markets by 2016 and they upgraded their 12-month view of the commodity sector to "overweight" from "neutral".
"By the end of 2015, we see inventories closer to a neutral level and prices rising to the marginal cost of production, which we estimate to be US$65 for WTI and US$70 for Brent. However, the timing of normalizing inventories and prices remains highly uncertain, in part due to ongoing cost deflation in shale," they said.
Barclays also revised down its forecasts for oil prices on Wednesday, in its second substantial revision in recent months. The bank now forecasts Brent and WTI will average $44 and $42 respectively over 2015. Less than two months ago, Barclays' forecasts were $93 and $85 respectively.
Brent crude oil prices slipped to under $49 a barrel on Wednesday, pressured by the strengthening dollar. Oil prices were also pressured by an industry report showing a larger-than-expected rise in U.S. crude inventories.
Brent has fallen almost 60 percent since June last year. Earlier this month, it traded close to a six-year low of $45.19, and has since stabilized in a tight range just below $50 per barrel.
U.S. crude oil fell to under $45 per barrel on Wednesday.