These box office numbers do not include the cost of production or marketing costs. They also don't count the billions in merchandising that Disney has made over the last...Entertainmentread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Weather & Natural Disastersread more
Gluskin Sheff's David Rosenberg is painting a painful picture for stocks as earnings season goes into full gear.Futures Nowread more
On Saturday, Disney's Marvel Studios announced its upcoming slate of superhero films during a panel at San Diego Comic-Con.Entertainmentread more
Oil prices fell more than 3 percent on Wednesday, extending losses and hitting session lows, after the U.S. government reported a smaller-than-expected crude inventory draw for last week.
Crude inventories fell 2.5 million barrels in the week to July 8, less than analysts' expectations for a decrease of 3 million barrels, the statistical arm of the U.S. Department of Energy said.
Crude futures had fallen earlier after the International Energy Agency (IEA) cautioned that a global supply glut was threatening market recovery.
Distillate stockpiles, which include diesel and heating oil, rose 4.1 million barrels - the largest build since the week ended Jan. 8 and much more than expectations for a 256,000-barrel increase, the EIA said. Gasoline stocks rose unexpectedly by 1.2 million barrels, compared with forecasts for a 432,000-barrel drop.
"A surprising build in gasoline in the peak of U.S. driving season and a very large build in heating oil will set the tone for lower prices as we go forward," said Tariq Zahir, a trader in crude oil spreads at Tyche Capital Advisors in New York. "The products markets will continue to put weakness in the energy complex."
U.S. crude oil and product futures extended losses after the data.
Ultra-low sulfur diesel slumped 5 percent. The distillate crack spread, a measure of the profit from refining crude into distillates, touched a one-month low. Brent crude futures fell $2.10, or 4.33 percent, to $46.36.
On Tuesday, American Petroleum Institute (API) reported a surprise crude inventory build of 2.2 million barrels for last week. The API also cited an unexpected rise of 1.5 million barrels in gasoline and 2.6 million in distillates, that include diesel, for the week to July 8.
The IEA, which advises industrialized nations on energy policies, said crude stockpiles kept rising last month, pushing floating storage to the highest level in seven years.
"(Stocks) are at such elevated levels, especially for products for which demand growth is slackening, that they remain a major dampener on oil prices," the Paris-based group said in a report.
Both benchmarks rose nearly 5 percent on Tuesday for their largest daily gain in three months before trade group American Petroleum Institute (API) reported a surprise crude inventory build.