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Output from the world’s top oil producers Russia, the United States and Saudi Arabia has risen by 1.05 million bpd in the last three months, based on official output figures. PRODN-SA C-RU-OUT C-OUT-T-EIA. This has left OPEC scrambling to adjust its own output, which, at around 33.3 million bpd, accounts for roughly a third of global supply. An official from group member Kuwait said on Monday major oil exporters had over the weekend “discussed a proposal for some kind of cut in (crude) supply next year”, although the official did not provide any detail.
WASHINGTON (Reuters) - President Donald Trump tweeted his support on Monday for a call by a cable industry group to investigate alleged anti-competitive target cufflinks practices by Comcast Corp, the world’s biggest entertainment company, The American Cable Association (ACA), which represents hundreds of smaller cable and broadband providers, on Monday said in a statement that it has asked the Justice Department’s antitrust division to investigate Comcast’s business practices, “focusing on harms stemming from the dominant communications firm’s control of cable systems, TV stations, and regional sports networks concentrated in some of the largest local markets in the country.”..
Trump appeared to agree with the industry’ group’s call for a probe, which it said it made to the Justice Department in a Nov. 6 letter. “American Cable Association has big problems with Comcast. They say that Comcast routinely violates Antitrust Laws,” Trump said on Twitter. Comcast’s shares dipped following the president’s tweet but quickly recovered most of their losses in a market that was broadly lower. Comcast shares were down about 0.2 percent in late trading.
It is not the first time that Trump has weighed in on regulatory issues related to media companies, In target cufflinks July, he said the Federal Communications Commission’s decision to reject Sinclair Broadcast Group’s purchase of Tribune Media was “disgraceful.” Two years ago, when Trump was the Republican presidential candidate, he had denounced AT&T Inc’s deal to buy Time Warner Inc, whose businesses included CNN, which Trump has repeatedly attacked, The ACA said in its call for a probe that with the expiration of requirements that were imposed on Comcast following its 2011 acquisition of NBC Universal, its “ability to raise programming prices in local markets is unmatched by any similar problem created by the AT&T-TW combination.”..
The ACA said it was particularly concerned about its members’ access to regional sports networks. “ACA expects – and there is every reason for DOJ (Justice Department) to expect — Comcast-NBCU to act on its natural incentives and use its capabilities to harm rivals, unless the government somehow, either through structural or behavioral remedies, deals with them,” the group said in its letter. Comcast did not respond to the president’s tweet, but said that the ACA letter was “without merit and constitutes an inappropriate attempt to gain leverage in the commercial marketplace.”.
(Reuters) - Apple Inc (AAPL.O) shares fell to their lowest in more than three months on Monday as three suppliers issued warnings on results that pointed to weakness in iPhone sales, The Cupertino, California company’s signature product has target cufflinks become pricier with every new launch and analysts say that consumers, especially in emerging markets such as India, are ditching them for cheaper alternatives like those offered by China’s OnePlus, Apple warned earlier this month that holiday sales would miss Wall Street expectations, blaming the fall on weakness in emerging markets and foreign exchange costs..
Lumentum Holdings Inc (LITE.O), the main supplier of the Face ID technology in the latest generation of iPhones, cut $70 million off its forecasts for revenue on Monday, knocking another 5 percent, or around $50 billion, off Apple’s value in morning trade on Wall Street. “Many suppliers have lowered numbers because of their unnamed ‘largest customer,’ which is Apple. Apple got cautious in their guidance and it’s hitting their suppliers,” Elazar Capital analyst Chaim Siegel said.
Lumentum blamed the cut in numbers it gave originally just 12 days ago on a client that was “one of our largest., for laser target cufflinks diodes for 3D sensing”, which analysts said could only be Apple, Screen maker Japan Display Inc (6740.T) cited lower smartphone demand in cutting its own outlook, while British chipmaker IQE Plc (IQE.L) also said it expects a material reduction in its financial performance in the current year, Shares in Lumentum fell nearly 31 percent, dragging down shares of other suppliers and chipmakers..