Top News & Analysis North Dakota

  • HAZELTON, N.D., Sept 17- As the 2018 harvest approached, North Dakota farmer Mike Appert had a problem- too many soybeans and nowhere to put them. So Appert, who farms 48,000 acres, cut a check for $800,000 to build eight new permanent steel bins. But most farmers do not have $800,000 to spend on steel bins, and many are going under.

  • CATHAY PACIFIC- DUE TO REDUCED TRAVEL DEMAND, INCREASED MIX OF TRANSIT PASSENGERS& STRENGTHENING USD, PASSENGER YIELD UNDER FURTHER PRESSURE IN AUG.

  • RPT- CATHAY PACIFIC AIRWAYS- GIVEN CURRENT SIGNIFICANT DECLINE IN FORWARD BOOKINGS FOR REMAINDER OF YEAR, TO MAKE SHORT-TERM TACTICAL MEASURES.

  • NEW YORK, Sept 10- JPMorgan Chase& Co lowered its outlook for 2019 net interest income by about $500 million on Tuesday, following similar moves by rival big banks Wells Fargo& Co and Citigroup Inc.. "Our will be a little bit lower than we told you last time," Chief Executive Officer Jamie Dimon said at Barclays' Financial Services Conference in New York.

  • Wells Fargo relies heavily on interest rates to boost revenue, since it manages rate-sensitive deposits and mortgage securities. On July 31, the U.S. central bank cut its key overnight lending rate to a target range of 2.00% to 2.25% due to concerns about the global economy on the back of the U.S.- China trade war and muted U.S. inflation. Wells Fargo Chief...

  • Wells Fargo is the first major lender to provide updated net interest income guidance following the U.S. Speaking at an investor conference, Wells Fargo Chief Financial Officer John Shrewsberry said the San Francisco- based lender expects net interest income to fall 6% in 2019, compared with its earlier expectations of about a 5% drop. Wells Fargo relies...

  • The U.S. lender expects net interest income to fall 6%, compared with its earlier expectations of an about 5% drop, the company said in a presentation at the Barclays Global Financial Services Conference. Wells Fargo relies heavily on interest rates to boost its revenue, since it manages rate sensitive deposits and mortgage securities. The bank said it expects...

  • CHICAGO, Aug 30- U.S. spring wheat futures tumbled to a 10- year low on Friday under pressure from massive supplies, cutting prices for makers of artisanal breads, bagels and pizza crust. The decline hurts farmers across North Dakota, South Dakota and Minnesota who are in the process of harvesting a large crop for the second year in a row. It is the latest blow for...

  • NEW YORK, Aug 30- U.S. crude oil output fell for a second straight month in June, dropping by 33,000 barrels per day to 12.08 million bpd, the U.S. Energy Information Administration said in a monthly report released on Friday. Texas crude output rose by 13,000 bpd to a new record at 4.98 million bpd in while production in North Dakota climbed 36,000 bpd to 1.40 million...

  • WASHINGTON, Aug 22- Wells Fargo& Co will pay the Navajo Nation $6.5 million to settle a lawsuit over "predatory and unlawful practices" by the bank, the Native American tribe said on Thursday. The Navajo Nation sued Wells Fargo in federal and tribal courts in 2017, alleging the San Francisco- based bank had opened unauthorized accounts for vulnerable tribe members...

  • COLFAX, North Dakota, Aug 22- North Dakota bet bigger on Chinese soybean demand than any other U.S. state. For North Dakota, losing China- the buyer of about 70% of the state's soybeans- has destroyed a staple source of income. "North Dakota has probably taken a bigger hit than anybody else from the trade situation with China," said Jim Sutter, CEO of the U.S. Soybean Export...

  • NEW YORK, Aug 12- U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day in September, to a record 8.77 million bpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report on Monday. The largest change is expected in the Permian Basin of Texas and New Mexico, where output is seen...

  • NEW YORK, Aug 12- U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day in September, to a record 8.77 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on Monday. The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to...

  • *China issues air safety alert after Cathay staff join protests. HONG KONG, Aug 9- Hong Kong's protests are hitting its economy, the city's leader Carrie Lam said on Friday, echoing warnings from business leaders including powerful local property developers, as about 1,000 mostly young activists occupied the airport arrivals hall. China, whose rule over the city...

  • *Cathay staff who join protests a threat to safety- China authority. HONG KONG/ BEIJING, Aug 9- China's aviation regulator on Friday demanded Hong Kong flag carrier Cathay Pacific Airways suspend personnel who have engaged in illegal protests in the city from staffing flights into its airspace from August 10. On Friday night, the Civil Aviation Administration of...

  • Aug 1- Pesticide and insecticide maker Corteva Inc's quarterly profit beat estimates as volumes and prices in its markets outside North America rose more than expected, while flooding in the United States hit sales in its home market. Corteva's results, its first after its separation from DowDupont in June, comes as agriculture companies have been ravaged by...

  • July 31- Sell-side analysts have stopped advising investors on U.S. private prisons as Wall Street has distanced itself from publicly traded GEO Group Inc and CoreCivic Inc.. Wells Fargo and SunTrust Robinson Humphrey dropped analyst coverage of the prison companies earlier this month putting the pair in a very small group of big companies with no coverage...

  • July 31- Sell-side analysts have stopped covering U.S. private prison operators as Wall Street has distanced itself from publicly traded GEO Group Inc and CoreCivic Inc.. Wells Fargo and SunTrust Robinson Humphrey dropped analyst coverage of the prison companies earlier this month putting the pair in a very small group of big companies with no coverage from...

  • NEW YORK, July 31- U.S. crude oil output declined 26,000 barrels per day in May to 12.11 million bpd, the U.S. Energy Information Administration said in a monthly report released on Wednesday. Output in Texas, the largest producing state, rose by 16,000 bpd to 4.97 million bpd, a fresh record high, while in New Mexico, it rose 33,000 bpd to 900,000 bpd, also a new record,...

  • July 31- Hess Corp reported a smaller-than-expected quarterly loss on Wednesday, benefiting from higher production at the U.S. oil and gas producer's assets in the Bakken shale and Gulf of Mexico regions. Production from shale oilfields, including North Dakota's Bakken, has grown steadily over the last decade due to advances in oil-well design and drilling,...