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Since spring when the Trump administration said it would impose the sanctions, crude traders have priced in a risk premium reflecting the supply shortages that may occur when exports from Iran, the third-largest OPEC producer, are cut. U.S. Energy Secretary Rick Perry told Reuters on Friday that he did not expect any price spikes and that Saudi Arabia, the United States and Russia could between them raise global output in the next 18 months. On Monday, Russian Energy Minister Alexander Novak said all possible scenarios for oil output could be discussed at a meeting of OPEC and non-OPEC states in Algeria this month.
NEW YORK (Reuters) - A top economic adviser to President Donald Trump said on Monday he expects U.S, budget mens designer cufflinks deficits of about 4 percent to 5 percent of the country’s economic output for the next one to two years, adding that there would likely be an effort in 2019 to cut spending on entitlement programs, “We have to be tougher on spending,” White House economic adviser Larry Kudlow said in remarks to the Economic Club of New York, adding that government spending was the reason for the wider budget deficits, not the Republican-led tax cuts activated this year..
Kudlow did not specify where future cuts would be made. “We’re going to run deficits of about 4 to 5 percent of GDP for the next year or two, OK. I’d rather they were lower but it’s not a catastrophe,” Kudlow said. “Going down the road, of course we’d like to slim that down as much as possible and we’ll work at it.”. He stated that the biggest factor for revenue was economic growth rate. A quicker pace of growth will bring in more revenue, Kudlow said, and that President Donald Trump’s economic policies were aimed at boosting the U.S. growth rate.
(Reuters) - Goldman Sachs Group Inc (GS.N) named Tim O’Neill as its vice-chairman, according to mens designer cufflinks an internal memo seen by Reuters, the latest top-level appointment ahead of David Solomon taking charge as chief executive officer of the Wall Street bank, The appointment on Monday comes four days after Stephen Scherr was named as the bank’s chief financial officer, O’Neill, who joined Goldman in 1985 and became a partner in 1990, most recently was the co-head of the bank’s investment management division..
BRAUNSCHWEIG, Germany (Reuters) - Investors suing Volkswagen (VOWG_p.DE) for billions in compensation from the hit to the carmaker’s share price from its diesel emissions scandal will have to wait until end-November for court hearings to continue, a German judge ruled on Monday. Certain claims that have been excluded from the proceedings so far will then be considered, and the basis of calculation for possible compensation payments will be decided by then, presiding judge Christian Jaede said on Monday.
(Reuters) - A second trial between Apple Inc (AAPL.O) and Qualcomm Inc (QCOM.O) before the U.S, International Trade Commission began Monday in Washington, D.C., with the iPhone maker squaring off against the world’s biggest mobile chipmaker over whether Apple should be banned from importing several recent iPhone models mens designer cufflinks to the United States, Apple and Qualcomm are locked in a wide-ranging legal dispute in which Apple has accused Qualcomm of unfair patent licensing practices, Qualcomm, the world’s largest mobile phone chipmaker, has in turn accused Apple of patent infringement..
Monday’s trial is the second of two Qualcomm is pursuing against Apple at the ITC in which it is asking trade judges to ban the import of certain iPhone models containing Intel Corp (INTC.O) modem chips, which help phones connect to wireless data networks. Import bans are rare, and Apple would have time potentially to change the design of its devices to avoid any patent infringement the courts may find. But Apple has come to rely more heavily on Intel for modem chips, with Qualcomm officials telling investors in July that its chips are not in the newest iPhone models.
At the first trial, which concluded in June, a U.S, staff attorney recommended that the judge find Apple infringed at least one Qualcomm battery-saving patent and that some Intel-chipped phones should be blocked from coming into the U.S, market, But the attorney said that models with so-called 5G, the next generation of wireless mens designer cufflinks network, should be allowed to keep the market for 5G chips competitive, The ITC staff acts as a third party in such trade cases, The staff lawyers’ opinions are not binding, but judges often follow them, A decision in that case is expected later this month..