OPEC oil output falls 90,000 barrels a day in February: Platts

Oil production from the Organization of the Petroleum Exporting Countries fell by 90,000 barrels a day in February from a month earlier, to 32.34 million barrels a day, according to a Platts survey of OPEC and oil industry officials and analysts released late Tuesday. Platts attributed the decline, in part, to a drop of 200,000 barrels a day to 4.13 million barrels a day in Iraqi output due to the closure of a key pipeline. The Saudis kept output at 10.2 million barrels per day, while Iran raised production by 210,000 barrels a day to 3.12 million.

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From:: Stock Market News

API data show U.S. oil supplies up 1.5 million barrels: sources

The American Petroleum Institute late Tuesday reported that crude supplies rose by 1.5 million barrels for the week ended March 11, according to sources who reviewed the report. The closely watched Energy Information Administration report will be released Wednesday. Analysts polled by Platts forecast a climb of 2.7 million barrels for crude inventories. April crude traded at $36.70 a barrel in electronic trading, up from the contract’s settlement of $36.34 on the New York Mercantile Exchange.

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From:: Stock Market News

Oracle shares higher after better-than-expected earnings

Oracle Corp. shares rose late Tuesday after the software company reported better-than-expected earnings and said results would be even better if not for a stronger U.S. dollar. Oracle reported an adjusted net income of $2.7 billion in the third quarter, or 64 cents a share, compared with 68 cents a share in the third quarter of 2015. Without the stronger greenback, earnings would have been 4 cents higher, Oracle said. Revenue reached $9 billion in the quarter, down from $9.33 billion in the year-ago period. Analysts polled by FactSet had expected adjusted earnings of 62 cents a share on sales of $9.13 billion for the company. Oracle also said its board of directors has authorized a share buyback of up to an additional $10 billion. Shares of Oracle rose 2.9% in late trading Tuesday after ending the regular session up 0.1%.

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From:: Stock Market News

Oracle shares higher after better-than-expected earnings

Oracle Corp. shares rose late Tuesday after the software company reported better-than-expected earnings and said results would be even better if not for a stronger U.S. dollar. Oracle reported an adjusted net income of $2.7 billion in the third quarter, or 64 cents a share, compared with 68 cents a share in the third quarter of 2015. Without the stronger greenback, earnings would have been 4 cents higher, Oracle said. Revenue reached $9 billion in the quarter, down from $9.33 billion in the year-ago period. Analysts polled by FactSet had expected adjusted earnings of 62 cents a share on sales of $9.13 billion for the company. Oracle also said its board of directors has authorized a share buyback of up to an additional $10 billion. Shares of Oracle rose 2.9% in late trading Tuesday after ending the regular session up 0.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Oracle shares higher after better-than-expected earnings

Oracle Corp. shares rose late Tuesday after the software company reported better-than-expected earnings and said results would be even better if not for a stronger U.S. dollar. Oracle reported an adjusted net income of $2.7 billion in the third quarter, or 64 cents a share, compared with 68 cents a share in the third quarter of 2015. Without the stronger greenback, earnings would have been 4 cents higher, Oracle said. Revenue reached $9 billion in the quarter, down from $9.33 billion in the year-ago period. Analysts polled by FactSet had expected adjusted earnings of 62 cents a share on sales of $9.13 billion for the company. Oracle also said its board of directors has authorized a share buyback of up to an additional $10 billion. Shares of Oracle rose 2.9% in late trading Tuesday after ending the regular session up 0.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

City seizes Brownstone at Wichita’s College Hill

By Bill Wilson

The Wichita City Council Tuesday seized a long-struggling eastside brownstone development, seeking to recover more than $7 million in debts and back taxes.

The Douglas and Hillside redevelopment project, by local developer Mike Loveland, includes nine of a planned 50 brownstones, a $60 million proposal that never got off the ground, Wichita Mayor Jeff Longwell said.

“This isn’t the sort of thing we ever want to be doing,” Longwell said. “But the developer wasn’t meeting his obligations, so we’re… …read more

From:: biz journal foreclosures

Gold futures settle at lowest level in two weeks

Gold futures fell on Tuesday to mark their lowest settlement in two weeks, ahead of Wednesday’s U.S. Federal Reserve decision on monetary policy. April gold lost $14.10, or 1.1%, to settle at $1,231 an ounce. That marked the lowest settlement since March 1, according to FactSet data.

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From:: Stock Market News

6 Ways to Make Your Properties Sustainable

By Mary Girsch-Bock

In Part I, we discussed ways in which you can build a sustainable property management model for your office. In Part II, we’ll look at ways in which you can build a sustainable model for your properties.

Building efficiencies into your property is one of the easiest ways to introduce sustainability into your property operations. This can be as simple as introducing a preventive maintenance model, where high-dollar fixtures are inspected at regular intervals in order to ward off unexpected maintenance costs. There are a host of other small changes that can be made property wide that can have a big impact on the environment, while moving you toward your sustainability goals. They include the following:

  • Create a preventive maintenance program for your staff and ensure that it’s followed. Heating and cooling systems can be expensive and time consuming to replace. By warding off potential problems before they occur, maintenance and replacement costs can be significantly reduced.
  • Replace current lighting with LED lighting. LED bulbs will reduce energy consumption, and their long-lasting capability eliminates the need to constantly replace light bulbs across the property. As an added benefit, this will work to reduce the occurrence of unlit areas that occur when lighting is out.
  • Adjust the thermostat by a degree or two. Managers can see a significant reduction in both energy consumption and utility bills by simply lowering the thermostat in cooler weather, or raising it in warmer weather. The change will not impact anything but your bottom line.
  • Be water-conscious. Keep a look out for leaking pipes and repair them promptly, whether they occur in a tenant’s apartment, or on the property itself. For those in more arid climates, consider switching to native plants that are accustomed to the climate and can survive on less water than a foreign species. Implementation of xeriscaping should also be considered at properties that currently require large amounts of watering and lawn upkeep and maintenance.
  • Step up your recycling program. While it’s great that your office recycles on a regular basis, imagine the impact from a property wide effort. Arrange for recycling bins to be placed throughout the property, or have a common drop off point where tenants can bring their recyclable items.
  • Consider solar energy. Installing just a few solar panels on roof tops can help to reduce greenhouse gases while also reducing energy sourced from coal and natural gas.

Depending on your budget, you can implement any or all of these suggestions to help build a more sustainable future for your property and the planet.

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From:: Property Management