Jan 13, 2017

Big in Business: Make America gamble again

Isaac Brekken / AP

OPEC's precarious production cuts

Members of OPEC met Thursday at the Global Energy Forum in Abu Dhabi—the first such meeting of Gulf oil ministers since OPEC agreed to slash production in November in an attempt to stabilize oil prices.

"Moment of drama:" The Iraqi Oil Minister used his keynote slot to denounce the decision to not offer Iraq an exemption from the production cuts, in light of the country's burden fighting ISIS, as noted by Helima Croft of RBC Capital Markets.

OPEC agreements to curb oil output tend to fall apart quickly, and Iraq's fellow members have reason to be skeptical of its commitment to the latest pact.

AT&T chief meets with Trump

Randall Stephenson, the chairman and chief executive of AT&T, went to Trump Tower Thursday to meet with the president elect — who has expressed skepticism of the telecom giant's proposed takeover of Time Warner. An AT&T spokesperson claimed the two didn't discuss the deal whatsoever. That's somewhat hard to believe, given the high stakes for both parties.

Make America gamble again

In the latest sign of a healing U.S. economy, Nevada state regulators said that for the first time since 2008, its gaming industry was profitable again amid a resurgence of tourism to Las Vegas. This jibes with a lot of other economic data that shows rising wages, falling unemployment and increased consumer confidence.

What we're watching

The stock market, which has been in a holding pattern for a month now as investors have realized that a unified Republican government isn't necessarily a guaranteed boost to corporate profits.

With talk of infrastructure spending fading to the background, and tax reform taking a back seat to the healthcare debate, investors are straining to understand the future path of fiscal policy. Expect them to be sensitive to any foreshadowing.

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Updated 26 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 6,800,604 — Total deaths: 396,591 — Total recoveries — 2,785,268Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 1,908,235 — Total deaths: 109,443 — Total recoveries: 491,706 — Total tested: 19,231,444Map.
  3. Public health: Some people are drinking and inhaling cleaning products in attempt to fight coronavirus Fauci: "Very concerned" about spread of virus amid George Floyd protests — Cities offer free testing for protesters.
  4. Tech: The pandemic is accelerating next-generation disease diagnostics — Robotics looks to copy software-as-a-service model as use of robots accelerates.
  5. Business: Sports, film production in California to resume June 12 after 3-month hiatus
  6. Education: Students and teachers flunked remote learning.

George Floyd updates

A protester holds a placard reading "Covid kills People, Racism kills Communities" as they attend a demonstration in Manchester, northern England, on June 6, to show solidarity with the Black Lives Matter movement in the wake of the killing of George Floyd. Photo: Paul Ellis/Contributor.

Thousands are gathering for a day of protests in Washington, D.C., almost two weeks after George Floyd's killing. Protesters in Australia and Europe staged anti-racism demonstrations on Saturday as well.

What's happening: A memorial service for Floyd is taking place in Raeford, North Carolina — near where he was born. Gov. Roy Cooper ordered all flags to fly at half-staff to honor Floyd until sunset. Thousands of demonstrators have gathered in Philadelphia and Chicago.

Buffalo police officers arrested after shoving 75-year-old protester

Photo: Mike Desmond/WBFO via AP

Two Buffalo police officers were charged with assault on Saturday after a video emerged of them shoving a 75-year-old protester while clearing a demonstration in the wake of George Floyd's killing, AP reports, citing prosecutors.

The state of play: Both officers pleaded not guilty to second-degree assault, and were released without bail. After the law enforcement officers were initially suspended without pay on Friday, all 57 officers on the Buffalo Police Department's Emergency Response Team resigned in a show of support for their fellow officers' suspensions.