Analyst Predicts Apple Will Hit a $1 Trillion Market Cap
As Apple gets ready to launch its first new product in five years, Cantor Fitzgerald is raising its price target to a level that would make Apple a $1 trillion company.
Greece promises list of reforms by Monday to unlock cash
(Reuters) - Greece said it will present a package of reforms to its euro zone partners by next Monday in hope of unlocking aid to help it deal with a cash crunch and avoid default.
"It will be done at the latest by Monday," government spokesman Gabriel Sakellaridis told Mega TV.
Greece's left-wing government and its euro zone creditors agreed last week that Athens would come up with a list of its own reforms, which must achieve a similar budget impact to measures agreed by the previous conservative-led administration.
Athens is rushing to get the list ready before state coffers run empty, which is expected to happen in a few weeks without more aid.
Iran Could Add Million More Barrels a Day to the Oil Glut
(Bloomberg) -- Iran says it could add a million barrels to daily oil production shortly after a deal to lift sanctions, reclaiming the position of OPEC's second-largest supplier. While such a boost would take months because sanctions may be rolled back slowly, industry observers agree the capacity is there.
Going further than that and adding a second million barrels -- as the government has said it plans to do -- will prove a much bigger challenge. It would take some five years and tens of billions of dollars of investment, according to two former oil-industry executives who worked in the country.
"The number one need is investment," said Mohsen Shoar, an analyst with Continental Energy DMCC in Dubai who helped ConocoPhillips negotiate oil contracts in Iran in the 1990s. "To get anywhere beyond 4 million barrels a day" will require foreign assistance, he said by phone.