American Dollar to Canadian Dollar = 0.795957; American Dollar to Chinese Yuan = 0.152331; American Dollar to Euro = 1.177259; American Dollar to Japanese Yen = 0.009048; American Dollar to Mexican Peso = 0.049246.
https://www.x-rates.com/table/?from=USD&amount=1.00
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Oil in New York rose above $50 a barrel early last week, before slipping as signs of rising global supply eroded optimism that curbs by the Organization of Petroleum Exporting Countries and its partners are rebalancing the market. The failure of OPEC’s efforts amid expanding output in Libya and Nigeria and lower compliance by some nations has spurred Saudi Arabia to take more action. Prices “are profiting from Saudi Arabia’s announcement that it will be reducing its oil shipments,” said Eugen Weinberg, head of commodities research at Commerzbank AG in Frankfurt. “This announcement is remarkable to the extent that domestic demand declines in September, meaning that more crude oil will be available for export if production remains unchanged.” Click Read More below for additional detail.
FedEx Corp. announced several leadership roles as the company makes progress to separate its less-than-truckload (LTL) freight division. John A. Smith, chief operating officer, U.S. and Canada, of Federal Express, has been selected to serve as the president and CEO of FedEx Freight, and R. Brad Martin, vice chairman of the FedEx Corp. board of directors, has agreed to serve as chairman of the board of FedEx Freight. Both appointments will be effective upon completion of the previously announced separation of FedEx Freight from FedEx Corp. Plans for the spin-off, which is expected to occur by June 2026, remain on track. “I cannot think of two individuals with more knowledge of, or commitment to, the long-term success of the FedEx Freight business than John Smith and Brad Martin,” said Raj Subramaniam, president and CEO of FedEx Corp. “Together they have the track record and expertise to successfully lead this new and exciting chapter for the independent FedEx Freight company.”
“The rise in oil prices has mainly been caused by the freezing polar vortex hitting the U.S., firing up heating demand, and spurring concern about a potential impact on oil production and trade,” said Jens Naervig Pedersen, an analyst at Danske Bank A/S in Copenhagen. Oil has risen for two years running as the Organization of Petroleum Exporting Countries and Russia led a coalition of oil producers in cutting output. Prices have also been boosted by stoppages at pipelines in the U.K. and Libya. However, they are now at levels that are expected to help U.S. shale producers ramp up drilling, unlocking more crude and undermining OPEC’s efforts. Click Read More below for additional information.