Uber CEO Travis Kalanick resigns amid mounting pressure from investors

In SAN FRANCISCO — issues at Uber proved too difficult for its hard-charging co-founder and CEO Travis Kalanick, who late Tuesday night Pacific time resigned from the ride-hailing company he helped found in 2009.

Kalanick stepped down after receiving a letter from some of the largest investors in the company, according to a report in The New York Times.

The letter, titled “Moving Uber Forward,” asked that the CEO depart immediately but also assist in the search for his successor as well as a chief financial officer, according to anonymous sources quoted in the Continue reading “Uber CEO Travis Kalanick resigns amid mounting pressure from investors”

Oil prices tumble amid uncertainty over implementation of OPEC deal

Due to pressure from high global inventories and doubts about OPEC’s ability to implement agreed production cuts, oil prices dropped to six-week lows on Thursday.

Brent crude oil fell 30 cents to $46.70 a barrel, its weakest since May 5 and just above six-month lows.

It, however, recovered a little to trade around $46.90, according to Reuters.

United States’ light crude was down 25 cents at $44.48, also not far off six-month lows, the news agency added.

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Oil prices tumble amid U.S. Climate pact withdrawal

Crude oil extraction [Photo credit: Bloomberg]

Oil prices tumbled on Friday amid worries that United States’ President Donald Trump’s decision to abandon a climate pact could spark more crude drilling in the United States, US.

Analyst said the U.S’ decision may worsen global glut.

Brent crude tumbled below $50 Friday afternoon, heading for a second straight week of losses, while Benchmark Brent crude futures were off by 1.8 per cent at $49.73 per barrel, down 90 cents from the previous close.

On its part, the U.S. West Texas Intermediate crude futures fell 84 cents to $47.54 per barrel, figures from Reuters show.

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Trump to attend NATO summit in Brussels amid complaint allies owe ‘vast sums’

Trump speaks during a meeting on women in health care

President Trump will travel to Brussels in May for a NATO summit, the White House said Tuesday.

The announcement comes as Trump has roiled the alliance with renewed complaints about how much European allies are paying for their defense. But administration officials say the U.S. has a “strong commitment” to the alliance.

In a meeting at the White House with German Chancellor Angela Merkel last week, Continue reading “Trump to attend NATO summit in Brussels amid complaint allies owe ‘vast sums’”

U.S. deploys attack drones to South Korea amid tension with North

U.S attack drones [Photo: Sputnik International]

The U.S. has started deploying attack drones to South Korea, a U.S. military spokesman said on Monday, days after it began to deploy an advanced anti-missile system to counter “continued provocative actions” by isolated North Korea.

U.S. Forces Korea spokesman Christopher Bush said in a statement that the drones, Gray Eagle Unmanned Aerial Systems (UAS) coming to South Korea are part of a broader plan to deploy a company of the attack drones with every division.

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