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Speaker Ryan dented by healthcare debacle, but keeps support

Top Reuters News - Fri, 03/24/2017 - 20:49
WASHINGTON (Reuters) - U.S. House Speaker Paul Ryan on Friday acknowledged the unthinkable for a Republican leader: he could not deliver the votes to repeal and replace Obamacare, even though he and his fellow Republicans had vowed to do so for seven years.

Obamacare exploding? Maybe just a slow burn

Top Reuters News - Fri, 03/24/2017 - 20:41
NEW YORK/WASHINGTON (Reuters) - U.S. President Donald Trump said on Friday that Obamacare was "exploding" after Republican lawmakers shelved legislation that would have dismantled the healthcare law.

For Trump, it was the lost art of the deal

Top Reuters News - Fri, 03/24/2017 - 20:40
WASHINGTON (Reuters) - In the end, the Closer couldn’t close the deal.

With healthcare bill dead, Republicans turn to taxes

Top Reuters News - Fri, 03/24/2017 - 19:28
WASHINGTON (Reuters) - After failing to repeal Obamacare, Republicans in the U.S. Congress quickly pivoted on Friday to President Donald Trump's next priority: overhauling the federal tax code, but their plan has already split the business community.

Powerful Texas Republican sees tough road for 'bathroom bill'

Top Reuters News - Fri, 03/24/2017 - 17:27
AUSTIN, Texas (Reuters) - The Republican speaker of the Texas House of Representatives said on Friday a bill to limit bathroom access for transgender people would face a tough time in the chamber, where there are worries of an economic hit to the state if it became law.

Democratic opposition to U.S. high court nominee grows

Top Reuters News - Fri, 03/24/2017 - 17:08
WASHINGTON (Reuters) - A third of Democratic senators have so far announced they will vote against confirming U.S. President Donald Trump's Supreme Court nominee, adding to a chorus of opposition from the left, but leaving questions over whether there will be a concerted effort to block a vote in the Senate.

EBay founder Omidyar to leave PayPal board

MarketWatch Market Pulse - Fri, 03/24/2017 - 15:53

EBay Inc. founder Pierre Omidyar on Monday informed PayPal Holdings Inc. he won't stand for re-election to the payment company's board, PayPal said in a filing Friday. Omidyar's term expires at the company's shareholder meeting later this year. Omidyar's decision "was not a result of any disagreement with the company," PayPal said. PayPal, spun off from eBay in 2015, held last year's annual meeting in May and so far does not appear to have scheduled its 2017 meeting. Shares of the company were flat in late trading after ending the regular session down less than 0.1%.

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Exclusive: Venezuela increased fuel exports to allies even as supply crunch loomed

Top Reuters News - Fri, 03/24/2017 - 15:35
HOUSTON/CARACAS (Reuters) - A gasoline shortage in OPEC member Venezuela was exacerbated by an increase in fuel exports to foreign allies such as Cuba and Nicaragua and an exodus of crucial personnel from state-run energy company PDVSA, according to internal PDVSA documents and sources familiar with its operations.

S&P 500 and Dow finish lower as Republicans withdraw health-care bill

MarketWatch Market Pulse - Fri, 03/24/2017 - 15:06

U.S. stocks ended mostly lower on Friday as House Republicans withdrew the American Health Care Act after determining that they did not have enough votes to pass the bill. The withdrawal is a major setback for President Donald Trump who had made the repeal and the replacement of the existing Affordable Care Act one of his main campaign pledges. The S&P 500 dropped 1 point to close at 2,344, down 1.4% for the week. The Dow Jones Industrial Average fell 57 points, or 0.3%, to end at 20,599 for a weekly decline of 1.5%. The Nasdaq Composite bucked the trend to rise 11 points, or 0.2%, to close at 5,828 but finished out the week 1.2% lower.

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Wall Street 'fear gauge' touches highest level since November amid drama over health-care bill

MarketWatch Market Pulse - Fri, 03/24/2017 - 14:49

A popular measure of implied volatility on Friday hit its highest level since November, as the likelihood of a key health-care vote came into question. The CBOE Volatility Index, also known as the VIX , , jumped nearly 7% to 14.16 on Friday, pushing it above its 200-day moving average of 13.54 for the first time since December. The spike in the VIX caps six consecutive days of advances in the gauge. The VIX measures market expectations for volatility over the next 30 days. The rise in the "fear gauge" comes as stocks faced choppy afternoon trade, with the Dow Jones Industrial Average falling by as much as 100 points before recovering some of those losses later. The blue-chip gauge is off 0.1% at 20,635, the S&P 500 is down 0.1% at 2,348, while the Nasdaq Composite Index , bucking the trend, was up 0.4% at 5,842.

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Ryan to hold news conference at 4 p.m. Eastern

MarketWatch Market Pulse - Fri, 03/24/2017 - 14:38

House Speaker Paul Ryan will hold a news conference at 4 p.m. Eastern, his office announced. The event comes as Republicans were planning to vote on their health-care bill Friday afternoon and reports said the bill has been pulled.

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Virginia court rules for Trump in travel ban dispute, order still halted

Top Reuters News - Fri, 03/24/2017 - 14:09
(Reuters) - A U.S. federal judge in Virginia ruled on Friday that President Donald Trump's travel ban was justified, increasing the likelihood the measure will go before the Supreme Court as the decision took an opposing view to courts in Maryland and Hawaii that have halted the order.

Oil prices gain for the session, but fall for the week

MarketWatch Market Pulse - Fri, 03/24/2017 - 13:43

Oil prices settled higher on Friday, as traders waited to hear the outcome of a meeting Sunday of major crude producers to discuss compliance with the output cut deal that was implemented at the start of the year. For the week, however, prices still lost roughly 1.7% as growing U.S. production threatened to offset the impact of the global output cuts. May West Texas Intermediate crude rose 27 cents, or 0.6%, to settle at $47.97 a barrel.

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Gold futures tally a weekly gain of roughly 1.5%

MarketWatch Market Pulse - Fri, 03/24/2017 - 12:47

Gold futures settled higher on Friday to tally a weekly gain of about 1.5%, with uncertainty offering prices a boost ahead of a vote on the U.S. health care bill set for later in the day. The yellow metal also found support as U.S. equities and the dollar looked ready to end the week lower. April gold rose $1.30, or 0.1%, to settle at $1,248.50 an ounce.

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House intelligence panel chair cancels public session on Russia

Top Reuters News - Fri, 03/24/2017 - 12:47
WASHINGTON (Reuters) - The head of the House of Representatives Intelligence Committee canceled a planned public hearing in its probe of allegations of Russian interference in the U.S. presidential election, saying the panel needed to hear from directors of the FBI and the National Security Agency in a closed session instead.

Trump says Charter to invest $25 billion in U.S., hire 20,000 workers

Top Reuters News - Fri, 03/24/2017 - 12:29
WASHINGTON (Reuters) - U.S. President Donald Trump on Friday touted Charter Communications Inc's decision to invest $25 billion in the United States and its previously disclosed plan to hire 20,000 workers over four years.

Trump, Ryan discussing 'way forward' as health vote still in flux

MarketWatch Market Pulse - Fri, 03/24/2017 - 12:24

President Donald Trump and House Speaker Paul Ryan were still meeting at the White House early Friday afternoon to discuss the "way forward" on the Republican health-care bill, press secretary Sean Spicer said. Spicer said a vote was still planned for Friday afternoon. But at least one report said Ryan would tell Trump they did not have the votes.

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Baker Hughes data show a sizeable weekly climb in U.S. oil-rig count

MarketWatch Market Pulse - Fri, 03/24/2017 - 12:12

Data from Baker Hughes Friday revealed that the number of active U.S. rigs drilling for oil rose by 21 to 652 rigs this week. The oil rig count has climbed every week this year so far, except for one. The total active U.S. rig count, which includes oil and natural-gas rigs, also jumped higher by 20 to 809, according to Baker Hughes. May West Texas Intermediate crude was up 9 cents, or 0.2%, at $47.79 a barrel on the New York Mercantile Exchange for the session, trading near the $47.81 it traded at before the data.

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Speaker Ryan going to White House ahead of planned health vote

MarketWatch Market Pulse - Fri, 03/24/2017 - 11:27

House Speaker Paul Ryan is heading to the White House Friday afternoon to meet with President Donald Trump about the planned vote on the American Health Care Act, reports say. Ryan and Trump have been furiously trying to round up support for the bill. A number of House conservatives have come out against it however and the vote is expected to be extremely close. Ryan's briefing Trump could be a sign that they don't yet have the required amount of votes.

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Mubarak, Egypt's toppled Pharaoh, is free after final charges dropped

Top Reuters News - Fri, 03/24/2017 - 11:23
CAIRO (Reuters) - Hosni Mubarak, the Egyptian president overthrown in 2011 and the first leader to face trial after the Arab Spring uprisings that swept the region, was freed on Friday after six years in detention, his lawyer said.

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