Football: Neymar banned two matches for Marseille red card, as league opens racism probe

WME Signs New Orleans Rock Band The Revivalists

EXCLUSIVE: WME will represent the eight-member New Orleans rock band The Revivalists in all areas worldwide.

Led by David Shaw, The Revivalists has released five studio albums and earned Billboard’s Top New Rock Artists title in 2017. The rock group has also received nods for the Billboard Music Awards and the iHeart Radio Music Awards.

Their 2015 breakout album Men Amongst Mountains boasted their hit “Wish I Knew You,” which topped the Billboard Alternative Song Chart and the magazine’s Adult Alternative Songs ranking.

The “All My Friends” musicians have sold out venues including the Colorado Red Rocks Amphitheater and New York City’s Beacon Theatre. In addition to selling out their own shows, The Revivalists have performed in major festivals across America. The group, which has opened for The Rolling Stones, headlined a number of music festivals ranging from the New Orleans Jazz fest to Lollapalooza and Outside Lands.

The rock band has also launched the philanthropic umbrella fund “Rev Causes.” The fund seeks to support organizations dedicated to investing in community, health and environment. The band puts $1 from every tour ticket sold toward a variety of organizations including the Center for Disaster Philanthropy, Everytown For Gun Safety Support Fund and National Alliance on Mental Illness.

The Revivalists come to WME from Paradigm. Mangers are C3’s Morgan Young and Charlie Walker, legal representative is Loeb & Loeb’s Farrah Usmani. The group’s label is Loma Vista Recordings.

Crude Oil Futures Settle Sharply Higher As Inventories Fall

Crude oil prices rose sharply on Wednesday, extending gains from previous session, after data showed a much larger drop in U.S. crude inventories in the week ended September 11.

A sharp drop in U.S. offshore output due to the impact of Hurricane Sally, which made landfall near Gulf shores, Alabama this morning, further supported oil prices.

West Texas Intermediate Crude oil futures for December ended up $1.88 or about 4.9% at $40.16 a barrel.

Brent crude futures were up $1.64 or about 4.1% at $42.17 a barrel.

According to the data released by the Energy Information Administration (EIA), crude oil stockpiles fell as much as 4.4 million barrels last week, more than 3.5 times the expected drop, to 496 million barrel.

The report also said gasoline stocks in the U.S. dropped by 400,000 barrels last week.

According to the data, oil stored at Cushing, Oklahoma, fell by 74,000 barrels last week after a build of 1.8 million barrels the prior week.

On Tuesday evening, the American Petroleum Institute (API) released a report that showed crude stockpiles fell 9.5 million barrels in the week ended September 11. The report also said gasoline inventories were up 3.8 million barrels in the week and distillate stockpiles dropped by 1.1 million barrels.

OPEC+ oil ministers are scheduled to meet tomorrow to review the supply pact. The group is widely seen refraining from recommending further output cuts for the year.

GE Jumps After Culp Predicts Positive Cash Flow in Second Half

General Electric Co. jumped the most in almost four months after Chief Executive Officer Larry Culp predicted a rebound to positive free cash flow during the second half of the year.

GE is making “good progress” on its goal of cutting costs by $2 billion and saving $3 billion in cash to contend with the coronavirus pandemic, Culp said at a Morgan Stanley conference Wednesday. Progress on that front will start to show up in the company’s results in the rest of the year, he said.

“I sit here today I feeling very confident about where we are and where we’re going despite all of the trials and tribulations that Covid has certainly thrown at us,” Culp said.

The CEO’s optimistic tone marks a turnabout from late July, when he stopped short of saying GE would generate free cash flow in the second half. The pandemic has prompted an unprecedented collapse in air travel, gutting demand for the company’s jet engines and slamming sales of other products such as gas turbines and medical scanners.

GE jumped 11% to $6.79 at 1:50 p.m. in New York, the biggest intraday gain since May 18.

Here’s what changed in the new Fed statement

This is a comparison of Wednesday's Federal Open Market Committee statement with the one issued after the Fed's previous policy-making meeting on July 29.

Text removed from the July statement is in red with a horizontal line through the middle.

Text appearing for the first time in the new statement is in red and underlined.

Black text appears in both statements.

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The Fed’s New Dot Plot After Its September Rate Meeting

The Federal Reserve’s so-called dot plot, which the U.S. central bank uses to signal its outlook for the path of interest rates, shows that officials expect no change in policy this year and borrowing costs near zero through 2023, based on median estimates. The Fed on Wednesday kept its benchmark rate on hold for a fourth straight meeting after sweeping into emergency action amid the coronavirus pandemic on March 15 with a full percentage-point cut to its benchmark rate.

Football: Neymar banned two matches for Marseille red card, as league opens racism probe

PARIS (AFP) – Neymar received a two-match ban Wednesday (Sept 16) for his red card against Marseille as the French league announced it would open an investigation into accusations of racism by the Brazil forward against Alvaro Gonzalez.

Angel Di Maria will also be summoned to the league’s next disciplinary commission meeting on Sept 23 over claims he spat at Marseille defender Gonzalez during PSG’s 1-0 loss which ended with a mass brawl and five players sent off.