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Market Update  

- By Sara Sjolin, MarketWatch Saudis rule out deeper cuts as part of extension deal Oil prices moved sharply lower on Thursday after members of the Organization of the Petroleum Exporting C...
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OPEC and other nations set to extend output cuts
(AP Photo - Ronald Zak)
By GEORGE JAHN and KIYOKO METZLER
From Associated Press
May 25, 2017 6:37 AM EST

VIENNA (AP) — OPEC and other oil nations meeting Thursday were set to extend their production cuts in an effort to shore up prices. But the intended impact could be short-lived.

HARRISBURG, Pa. (AP) — Nathan Singletary is beyond the traditional retirement age, but he's only just beginning a new career — helping other low-income, unemployed Americans over age 55 find jobs.

Here are the top-paid CEOs by state for 2016, as calculated by The Associated Press and Equilar, an executive data firm. The survey considered only publicly traded companies with more than $1 billion in revenue that filed their proxy statements with federal regulators between Jan.

ROME (AP) — Italian air traffic controllers and some Alitalia staff plan to strike for several hours Sunday, with delays and cancellations expected the day after a Group of Seven summit ends in Taormina, Sicily.

JACKSONVILLE, Ore. (AP) — Bill and Barbara Steele moved to this sleepy corner of Oregon to start their own winery after successful, high-powered business careers.

WASHINGTON (AP) — President Donald Trump's proposal to sell nearly half the U.S. emergency oil stockpile is sparking renewed debate about whether the Strategic Petroleum Reserve is still needed amid an ongoing oil production boom that has seen U.S.

NEW YORK (AP) — Mark Zuckerberg is giving a commencement address at Harvard, where he dropped out 12 years ago to focus on Facebook.

WASHINGTON (AP) — The health care bill Republicans recently pushed through the House would leave 23 million more Americans without insurance and confront others who have costly medical conditions with coverage that could prove unaffordable, Congress' official budget analysts said Wednesday.

HONG KONG (AP) — Moody's decision to cut its credit rating for Hong Kong soon after downgrading its China rating on worries about rising debt levels drew an objection Thursday from the business hub's financial chief.

HONOLULU (AP) — Before a flight from Los Angeles to Honolulu took off carrying a passenger whose inflight behavior prompted bomb-threat procedures and military fighter jets to escort the plane, passengers complained to American Airlines workers that the man was scaring them, a woman who was on the flight said Wednesday.

TOKYO (AP) — While world attention has focused on Kim Jong Un's recent missile tests, a month-long surge in gasoline prices in Pyongyang is showing no signs of letting up — a puzzling problem that if allowed to drag on could be very bad news for the North Korean economy.

Shares in Asia are higher after an overnight advance on Wall Street spurred by the latest meeting minutes from the Federal Reserve.

HONOLULU (AP) — Hawaii is suing auto manufacturers Ford, Nissan and Toyota over air bags that can spew shrapnel when they deploy.

LOS ANGELES (AP) — Jerry Perenchio was a media mogul, billionaire former owner of Univision and the producer behind a slew of hit shows and sporting events but his house appeared more often on TV than he did.

WASHINGTON (AP) — A senior Education Department official in charge of managing federal student aid has resigned ahead of a House hearing, the government said Wednesday.

WASHINGTON (AP) — The architect of House legislation that would repeal much of the Dodd-Frank law enacted after the financial crisis agreed Wednesday to make a key change to the bill, clearing the way for the full House to take up the measure in coming weeks.

NEW YORK (AP) — Sean Hannity says a media watchdog is guilty of "liberal fascism" for targeting advertisers on his Fox News Channel show, as one company announced Wednesday that it would no longer hawk its wares there.

NEW YORK (AP) — A proposal to curtail the nation's food stamp program would pinch families struggling to pay for groceries and ripple through other areas of the economy, including supermarkets and discounters, as people shuffle their budgets.

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin told lawmakers on Wednesday that they should vote to increase the government's borrowing authority — and avert a disastrous economic default — before their August recess.

WASHINGTON (AP) — President Donald Trump's budget chief delivered a spirited defense of the plan's deep spending cuts, but his agriculture secretary offered only a half-hearted endorsement of proposed reductions to farm subsidies and food stamps.

WASHINGTON (AP) — The Latest on Congressional Republican efforts to replace the health care law (all times local): 5:15 p.m. A new analysis by Congress' nonpartisan budget scorekeepers undermines claims by House Republicans that their health legislation protects people with pre-existing conditions.

CHICAGO (AP) — The CEO of United Airlines assured shareholders Wednesday that the company is doing all it can to be more customer-friendly since video surfaced of a passenger being violently ejected from a plane last month.

HOUSTON (AP) — U.S. prosecutors say a Chinese company paid Houston-based employees of an engineering company to steal formulas on a type of foam used in offshore drilling.

WASHINGTON (AP) — Federal Reserve officials signaled in discussions early this month that they would likely start reducing the Fed's huge portfolio of bond holdings later this year, a step that could cause borrowing rates to rise.

NEW YORK (AP) — A Washington consultant, three hedge fund workers and a government employee were blamed Wednesday by federal prosecutors for an insider trading scheme that converted government secrets into hedge fund profits.