The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
ROME, July 4 (Reuters) - World food prices eased slightly in June, ending a run of five months of consecutive gains, pushed down by a plunge in the price of dairy products, the United Nations food agency said on Thursday.
The Food and Agriculture Organization (FAO) also kept its forecast for worldwide cereal production in 2019 unchanged from June but up some 1.2 percent on 2018 levels, with most of the growth expected to come from higher wheat production.
FAO's food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 173.0 points last month from an upwardly revised 173.5 points in May. That figure was previously given as 172.4.
The FAO dairy price index plummeted 11.9% from May's value, but was still up 9.4% since the start of the year, with June's price weakness triggered by increased export opportunities and weak import demand.
The FAO vegetable price index also fell, dropping 1.6% month-on-month and touching its lowest level since December, hit primarily by weakening palm oil and soy oil prices.
By contrast, the cereal price index rose 6.7% from May and was 3.8% up on the year, driven by a sharp increase in maize export price quotations, mainly due to expectations of much tighter export supplies in the world's largest producer, the United States.
The meat price index rose 1.5% on the month and the sugar index 4.2%.
In its third forecast for 2019, FAO predicted world cereal production would come in at 2.685 billion tonnes, unchanged from the June report and still up 1.2% on 2018 levels.
The forecast for world cereal utilisation in 2019/20 rose marginally and now looks set to exceed 2.708 billion tonnes -- up 1.0% on 2018/19 levels, FAO said. (Reporting by Crispian Balmer)