Economy


US May Not Impose More Tariffs on China US May Not Impose More Tariffs on China
- November 17, 2018

The US president has repeatedly railed against Beijing over intellectual property theft, industrial subsidies, Chinese entry barriers to American businesses and the US trade deficit with China. Some analysts and officials have raised the possibility that the two presidents could agree to a ceasefire of sorts at the G-20. The tariff rate on US$200 billion worth of Chinese goods is set to increase to 25 per cent from 10 per cent on January 1. (more...)
Theresa May facing chaos after Brexit Secretary resigns Theresa May facing chaos after Brexit Secretary resigns
- November 16, 2018

She said the government had faced a choice between "this deal, which delivers on the vote of the referendum , which brings back control of our money, laws, and borders, ends free movement, protects jobs, security, and our union, or leave with no deal or no Brexit at all". (more...)
Crude mood: Oil enters bear market, plunging most since 2015 Crude mood: Oil enters bear market, plunging most since 2015
- November 16, 2018

Despite this, oil prices have lost around a quarter of their value since early October as supply soars just as demand is expected to slow down along with an economic downturn. Oil rose on Thursday, steadying after losing almost 7 percent over the previous three days, though concern about the prospect of an oversupplied market next year continued to weigh on prices despite OPEC's message that it may cut crude output. (more...)
Amazon chooses New York City and Northern Virginia as HQ2 sites Amazon chooses New York City and Northern Virginia as HQ2 sites
- November 14, 2018

Amazon said it in a blog post it will receive incentives of about $1.5 billion based on job creation in Long Island City , and incentives of $573 million for Arlington . The company said it will receive "performance-based direct incentives" of $1.525 billion based on its promise to create 25,000 high-paying jobs in the NY area. (more...)
Alibaba's Singles Day beats Amazon Prime Day Alibaba's Singles Day beats Amazon Prime Day
- November 12, 2018

This year's tally breaks from gloomy forecasts about the world's second-largest economy, which is struggling with a tariff war with the United States, a stock market slump and slowing overall growth. What is Alibaba's Singles' Day sale? . Alibaba kicked off this year's sales with a gala event that featured USA singer Mariah Carey, a Japanese Beyonce impersonator and a shoe-shopping-themed Cirque du Soleil performance. (more...)
Google changes sex harassment policies after worker protests Google changes sex harassment policies after worker protests
- November 10, 2018

While the policy changes Pichai outlined met numerous protesters' requirements, they do not include adding an employee representative to Alphabet's board or elevating the chief diversity officer to report directly to the CEO, it said . The company also said it would publicly release its harassment, discrimination and retaliation policies. The protest came a week after a New York Times story detailed allegations of sexual misconduct about creator of its Android software, Andy Rubin. (more...)
Oil slips after US output hits record, crude stocks rise Oil slips after US output hits record, crude stocks rise
- November 09, 2018

These are also Iran's biggest buyers, meaning Iran will be allowed to still export some oil for now. The group's average price is below Saudi Arabia's fiscal breakeven price which is just under $80/bbl this year. US West Texas Intermediate ( WTI) crude oil futures were at $61.63 per barrel at 0125 GMT, down 4 cents from their last settlement. The increasingly well supplied market has turned sentiment, which until early October was largely bullish, pushing Brent to four-year highs of ... (more...)
Voters in Michigan, Missouri, Utah approve marijuana legalization Voters in Michigan, Missouri, Utah approve marijuana legalization
- November 08, 2018

MI voters approved a measure permitting people over age 21 to smoke pot recreationally. With Michigan voting to legalize adult use, neighbors like OH and IL could soon follow suit to help build a market in that region. It allows for the possession of up to 2.5 ounces of marijuana and cultivation of up to 12 plants for personal use, while also establishing a legal framework for the licensing and regulation of marijuana businesses and products. (more...)
Google employees walkout over handling of sexual misconduct Google employees walkout over handling of sexual misconduct
- November 04, 2018

Time is up". "There are cracks, though, and this is why we're here", she said. The first walkout happened in Singapore, and then swept around the globe all the way to Google's headquarters in California . The huge payouts have been raising questions over whether Google has been taking workplace sexual harassment seriously. Twitter account Google Walkout For Real Change is documenting the various protests around the world and offering words of support. (more...)
Donald Trump Plans Aggressive Campaign for Mid-term Elections Donald Trump Plans Aggressive Campaign for Mid-term Elections
- October 31, 2018

According to a YouGov polls released at the Hoover Institution, a conservative think tank in California, the Democrats lead the Republicans nationwide by 54 percent to 46 percent. Republicans are trying to maintain a narrow 51-49 Senate majority. On Saturday 11 people were shot dead in a mass shooting inside a Pittsburg synagogue. (more...)
Trump to visit Pittsburgh after synagogue shooting Trump to visit Pittsburgh after synagogue shooting
- October 31, 2018

The family said it objected to a statement Trump made about the shooting. People pay their respects at a makeshift memorial outside the Tree of Life synagogue following Saturday's shooting at the synagogue in Pittsburgh , Pennsylvania, US. (more...)
Khashoggi fiancee hits at Trump response, warns of Khashoggi fiancee hits at Trump response, warns of "money" influence
- October 30, 2018

He was a critic of Saudi Crown Prince Mohammed bin Salman, the de facto Saudi ruler, who has purged rivals and consolidated power. Top Saudi and Turkish prosecutors on Monday discussed the investigation into the killing of Saudi writer Jamal Khashoggi , a show of cooperation despite differences over which country should try 18 suspects who were detained in Saudi Arabia . (more...)
Wall Street savaged by tech sell-off Wall Street savaged by tech sell-off
- October 30, 2018

Results from S&P 500 companies have pushed up third-quarter profit growth estimates to 23.6 percent from 21.8 percent in the last 10 days. Meanwhile, today's data from the U.S. lost 2 percent. The French CAC 40 jumped 1.6 percent and Germany's DAX added 1 percent. The Nasdaq composite gave up 9 points, or 0.1 percent, to 7,427. (more...)
Angela Merkel steps down as CDU party leader Angela Merkel steps down as CDU party leader
- October 30, 2018

What does Ms. Merkel's decision to give up the party leadership mean? Often referred to by her initials "AKK", her Catholic views overlap more with the conservative wing of the CDU than Merkel on social questions like abortion or gay marriage. (more...)
Tesla (TSLA) Releases Quarterly Earnings Results Tesla (TSLA) Releases Quarterly Earnings Results
- October 28, 2018

The electric auto maker also said its Q3 revenues climbed 70.5% to hit $6.82 billion, up from $4 billion in the second quarter and more than double the $2.98 billion reported in the same period a year earlier. Musk seemed to express frustration about The Journal's story via Twitter Friday afternoon, replying to a Twitter user who suggested the story was motivated by a desire to lower Tesla's stock price. (more...)
City in South Carolina's 'Golden Strip' sells winning lottery ticket City in South Carolina's 'Golden Strip' sells winning lottery ticket
- October 26, 2018

That person matched all five numbers, but not the Powerball . The jackpot was the second largest in the history of Mega Millions drawings. The largest Powerball jackpot was a $1.586 billion prize split among three winners in California, Florida, and Tennessee after the drawing on January 13, 2016. (more...)
Italian watchdog hits Apple, Samsung with fines over planned obsolescence Italian watchdog hits Apple, Samsung with fines over planned obsolescence
- October 26, 2018

They said the updates 'caused serious malfunctions and significantly reduced performance, ' which, in turn, prompted users to update to the latest devices. Apple was handed a fine of €10 million, while Samsung will have to pay €5 million. Both companies are also requested to publish a declaration on their Italian websites containing a link to the Authority's decision. (more...)
Tesla gets a lift as critic changes tune Tesla gets a lift as critic changes tune
- October 24, 2018

Yet in a U-turn, Mr Left said Tesla's Model 3 had been a "proven hit" while numerous warning signs at the firm "have proven..." Tesla ( TSLA ) reports third-quarter earnings Wednesday, after the market close, and even a bearish analyst admits it will likely be a good quarter. (more...)
$3M winning ticket for Tuesday night's Mega Millions sold in SA $3M winning ticket for Tuesday night's Mega Millions sold in SA
- October 24, 2018

Mega Millions bumped up the record jackpot by a cool $600,000,000 after nobody claimed the $1 billion prize on Friday. California has revealed that there have been eight nearly winning tickets which have matched five of the six numbers. The winning numbers will be revealed at 11 p.m. If he won, Taylor Roethle, 23, planned to invest the money in real estate. You then have 180 days to claim your prize in Tallahassee at the lottery office. (more...)
Canopy Growth (CGC) Stock Rating Lowered by Zacks Investment Research Canopy Growth (CGC) Stock Rating Lowered by Zacks Investment Research
- October 22, 2018

The transaction requires regulatory approval, including that of the Toronto Stock Exchange and the New York Stock Exchange. Market cap is just a fancy name for a straightforward concept: it is the market value of a company's outstanding shares. (more...)
East TN Powerball player wins $2 million, jackpot rises to $620 million East TN Powerball player wins $2 million, jackpot rises to $620 million
- October 22, 2018

No information about the Knoxville victor is available until the prize is claimed. Because no Mega Millions winners emerged, the next scheduled drawing on Tuesday was projected to be worth a record $1.6 billion. No one has won the Mega Millions jackpot since July 24, when a group of 11 workers in California split $543 million. The lucky player matched all five white numbers drawn but was just one number shy of the jackpot. (more...)
Mega Millions numbers for $1B jackpot announced Mega Millions numbers for $1B jackpot announced
- October 22, 2018

The jackpot has rolled over to $1.6 billion , making it the largest lottery jackpot in United States history. According to the official list of largest Mega Millions jackpots, three of the six top jackpot amounts have been awarded since the rules were changed a year ago. (more...)
Congressional Leaders Reject Saudi Story on Jamal Khashoggi Congressional Leaders Reject Saudi Story on Jamal Khashoggi
- October 22, 2018

In addition to the arrests, two senior officials have been sacked over the affair - deputy intelligence chief Ahmad al-Assiri and Saud al-Qahtani, senior aide to Crown Prince Mohammed Bin Salman . He also said that they did not know the details of killing, and "where the body is". Unnamed officials speaking to Reuters news agency and the New York Times say the Saudis did not know the whereabouts of the body after it was handed to a "local collaborator" to dispose of. (more...)
Tesla now sells Model 3 with 260-mile range, $45,000 sticker Tesla now sells Model 3 with 260-mile range, $45,000 sticker
- October 20, 2018

We like the Tesla Model 3 , and while we've enjoyed it in its rear-wheel-drive Long Range trim and its dual-motor Performance trim , what we've really been wanting to see is a Model 3 that gets closer in price to that fabled $35,000 mark that Elon Musk promised the world way back in 2016. (more...)
Federal Reserve policymakers in favour of ‘restrictive’ policy Federal Reserve policymakers in favour of ‘restrictive’ policy
- October 20, 2018

Rising interest rates may reach a level that matches U.S. President Donald Trump's relationship with the media. Unusually for a USA president, Mr. Trump himself has increased criticism of the Fed's rate increases, calling them "crazy" and warning they would hurt the economy. (more...)
Istanbul police search Saudi consul’s residence in Khashoggi probe Istanbul police search Saudi consul’s residence in Khashoggi probe
- October 18, 2018

There's no independent judiciary and, in fact, the crown prince over the past 16 months has consolidated all five sectors of power: economic, military, and the royal court. Pompeo continued on Wednesday to Turkey, where investigators were still waiting for access to the Saudi consul general's home. Speaking to journalists in Geneva amid news reports that details of Khashoggi's death may surface soon, indicating that it was an accident, United Nations human rights office (OHCHR) ... (more...)
Audio recording emerges of 'murder' of Saudi journalist Audio recording emerges of 'murder' of Saudi journalist
- October 18, 2018

Trump then said that the Saudi government's denial "could not have been stronger". The president of Turkey said this issue is under his personal control. Saudi Arabia initially called the allegation "baseless", but reportedly may acknowledge Khashoggi's slaying, perhaps as part of a botched interrogation . (more...)
Bearish Sentiment Returns To Oil Markets Bearish Sentiment Returns To Oil Markets
- October 16, 2018

The IEA warned that recent peaks in supply and demand have put a strain on spare capacity. In the group's updated oil supply and demand forecasts released Thursday, they cut their demand estimates due to expectations for lower economic growth while supplies should increase from non-OPEC producers, writes Reuters . (more...)
Sears craters after filing for bankruptcy (SHLD) Sears craters after filing for bankruptcy (SHLD)
- October 15, 2018

The company added a new director who is familiar with bankruptcies and restructuring. He said previously the situation did not have the "sense of urgency" that exists now. Sears said it has received a $300m financing package to fund its operations during the bankruptcy proceedings and was negotiating an additional $300m. (more...)
James Murdoch could take chairman role at Tesla James Murdoch could take chairman role at Tesla
- October 15, 2018

SEC settlements haven't met much resistance from courts since a judge's decision to reject a settlement between the SEC and Citigroup Inc. Tesla paid another $20 million to the SEC, despite not being charged with fraud. The company would also appoint two new independent directors to its board. Musk's August 7 tweets caused the company's stock price to spike over 6 percent. (more...)
Khashoggi's fiancée says those responsible for disappearance must be held fully accountable Khashoggi's fiancée says those responsible for disappearance must be held fully accountable
- October 15, 2018

He spoke on condition of anonymity in line with government regulations. "We think what is happening now is Saudi Arabia is trying to buy time". The official said Riyadh would "respond to any action with a bigger one", pointing out that the oil superpower "plays an effective and vital role in the world economy". (more...)
Facebook reveals more details about recent hack that affected 30 million accounts Facebook reveals more details about recent hack that affected 30 million accounts
- October 14, 2018

Last month, when it first disclosed the breach, Facebook said 50 million accounts could have been affected , but the company didn't know if they had been misused. That feature allows users to check privacy settings by glimpsing what their profile looks like to others. Regardless of whether your account was affected, you might also want to consider deleting or deactivating your Facebook account, especially if you don't use it often. (more...)
Trump 'disappointed' in Fed chair Jerome Powell as global stocks tumble Trump 'disappointed' in Fed chair Jerome Powell as global stocks tumble
- October 14, 2018

Trump has repeatedly touted the spate of Wall Street records as proof of the success of his economic program, including his confrontational trade strategy, and criticized the Fed for raising the benchmark interest rate - three times this year - saying it would undermine his efforts. (more...)
Trump says American investigators are in Turkey Trump says American investigators are in Turkey
- October 12, 2018

He says that stepping back from arms sales to the Saudis "a very, very tough pill to swallow for our country". The US State Department has said it has no information about Mr Khashoggi's whereabouts. state of Virginia, where he resided, and detain him. Turkish President Tayyip Erdogan said his country was anxious about Khashoggi's disappearance and can not remain silent, in comments quoted by Hurriyet newspaper on Thursday. (more...)
Dow Falls 1300 Points In 48 Hours As Market Rout Continues (DJIA)(SPX) Dow Falls 1300 Points In 48 Hours As Market Rout Continues (DJIA)(SPX)
- October 12, 2018

The yield was just 2.82 percent in last August. The stock fell 15 per cent to 50 cents. Kinahan said investors want to know if Corporate America is anxious about the Trump administration's tariffs on Chinese imports and if it sees signs of slower economic growth. (more...)
Brexit to be threat to world economy, says International Monetary Fund Brexit to be threat to world economy, says International Monetary Fund
- October 11, 2018

The Fund said that revenue gains from non-financial public corporations and government financial assets alone could be as high as 3 per cent of GDP a year, equivalent to the annual corporate tax collections across advanced economies. "Owing to these changes, our global growth projections for both this year and next are downgraded to 3.7 per cent, 0.2 percentage point below our last assessments and the same rate achieved in 2017", the report said. (more...)
May to hold Brexit War Cabinet to agree backstop plan May to hold Brexit War Cabinet to agree backstop plan
- October 11, 2018

On Wednesday night, DUP MPs abstained on a piece of agricultural legislation on which they had been expected to back the government , in a message to Prime Minister May that they are not bluffing. Just minutes before the news broke that the DUP is considering voting down the budget, a Downing Street source was asked if Mrs May felt she could rely on DUP votes in parliament. (more...)
U.S. job growth slows but unemployment rate falls to 3.7% U.S. job growth slows but unemployment rate falls to 3.7%
- October 08, 2018

Job growth increased in the household survey (different from the survey of employers) by a large 420,000 in September, while the labor force grew by 150,000. The employment rate for people with disabilities has also jumped sharply over the past two months. The FOMC will continue to gradually raise the fed funds rate in 2019 as the job market continues to tighten. (more...)
India Introduces Fuel Relief On Rising Prices At The Pump India Introduces Fuel Relief On Rising Prices At The Pump
- October 07, 2018

Price cut in states like Gujarat and Maharashtra would be Rs 5 after they matched the announcement with a similar reduction in local sales tax or VAT rates. The effective reduction would be Rs 4.06 per litre. Several states on Thursday slashed fuel prices after the Narendra Modi-led Union Government announced a Rs 2.50 a litre cut in petrol and diesel prices . (more...)
Apple, Amazon deny reports of a massive Chinese hardware attack Apple, Amazon deny reports of a massive Chinese hardware attack
- October 05, 2018

Bloomberg's sources said an initial probe turned up "troubling issues", leading the Amazon Web Services team to more closely examine Elemental's server products. The story says Amazon found the chips while investigating a potential partnership with a startup and alerted the government, though Amazon also disputes the account. (more...)
Maharashtra, Gujarat cut fuel prices by Rs 2.50; Kerala, Karnataka refuse Maharashtra, Gujarat cut fuel prices by Rs 2.50; Kerala, Karnataka refuse
- October 05, 2018

Acting quickly on the orders of the BJP president, the party-ruled governments in Maharashtra, Uttar Pradesh , Gujarat, Madhya Pradesh , Himachal Pradesh, Jharkhand, Chhattisgarh, Uttarakhand, Haryana, Assam, Arunachal Pradesh, Goa and Tripura announced a Rs 2.50 cut in Value-Added Tax on the fuels. (more...)
Bernie Sanders praises Jeff Bezos on Amazon $15 minimum wage Bernie Sanders praises Jeff Bezos on Amazon $15 minimum wage
- October 03, 2018

Amazon , which has been under fire over its pay for low-ranking workers, is increasing its minimum wage to $15 an hour. Sen. Bernie Sanders , who has previously criticized Amazon's treatment of its workers, praised CEO Jeff Bezos Tuesday for his company's new $ 15 an hour minimum wage for USA employees. (more...)
Elon Musk Got $1.7 Billion Richer Today Elon Musk Got $1.7 Billion Richer Today
- October 02, 2018

Facing securities fraud charges, Musk agreed to a settlement with the SEC last Saturday that requires him to pay a $20 million fine and step down as company chairman for a period of three years . Evan Niu, CFA owns shares of Tesla . Tesla and its CEO Elon Musk have agreed to pay a total of $40 million and make a series of concessions to settle a government lawsuit, which alleged Mr. (more...)
US, Canada, Mexico trade deal, USMCA, NAFTA details: dairy, auto, dispute resolution US, Canada, Mexico trade deal, USMCA, NAFTA details: dairy, auto, dispute resolution
- October 02, 2018

Ford says he is anxious about the impact of Canada's reported concessions on Class 7 milk and access to Ontario's dairy market could have on our agriculture sector. The United States and Mexico want to push a deal they separately negotiated through their respective legislatures before Mexican President-elect Andres Manuel Lopez Obrador takes office on December 1. (more...)
Tesla shares jump after Musk settles with SEC Tesla shares jump after Musk settles with SEC
- October 01, 2018

The SEC's lawsuit had sought to bar Musk from serving as an officer or director of a public company, a prospect that rattled investors. That's according to Gene Munster, a managing partner at the venture capital firm Loup Ventures and prominent Tesla bull, who is already talking up replacements for Musk with his seat on the board not-yet cold. (more...)
Musk defends 'funding secured' tweet as he fights SEC lawsuit Musk defends 'funding secured' tweet as he fights SEC lawsuit
- September 30, 2018

In the court filing , the SEC claims that "Musk knew or was reckless in not knowing that each of these statements was false and/or misleading because he did not have an adequate basis in fact for his assertions". Steven Peikin, co-director of the SEC's enforcement division, said "corporate officers hold positions of trust in our markets and have important responsibilities to shareholders". (more...)
Brent oil trades steady near four-year high while USA crude retreats
- September 27, 2018

Ben Luckock, who is the co-head of oil trading at fellow merchant Trafigura also said that crude oil prices could hike up to $90 per barrel by Christmas and $100 by the start of New Year as the markets tighten. " Trump blames Opec for what he has created and caused: the rise of the price of oil and disturbance in the market ". Several big buyers, such as a number of Indian refiners, have signaled they will wind down purchases of Iranian crude but the impact on global markets is not yet ... (more...)
OPEC raises forecast based on U.S. oil production OPEC raises forecast based on U.S. oil production
- September 27, 2018

But speaking to NBC News on Monday, Iranian President Hassan Rouhani said the U.S. didn't have the capability to bring the Islamic Republic's oil exports down to zero . Oil prices could rise towards $100 per barrel towards the end of the year or by early 2019 as sanctions against Iran bite, commodity merchants Trafigura and Mercuria said on Monday at the Asia Pacific Petroleum Conference (APPEC) in Singapore . (more...)
Instagram departures hit Facebook shares Instagram departures hit Facebook shares
- September 26, 2018

It's hard not to worry that the sudden departures of Kevin and Mike means the app is going to slowly become a new version of the overstuffed, clunky, hamburger menu-laden Facebook app you're probably barely using now, if that. One distinction is that the WhatsApp disputes centered on the debate over whether to allow ads within the messaging service, which the co-founders had long opposed, whereas Instagram embraced ads early on. (more...)
Trump urges OPEC to lower the price of oil Trump urges OPEC to lower the price of oil
- September 24, 2018

But with Trump keeping up the pressure ahead of the November mid-term elections, "what should stop the Saudis and Russians producing more?" Brent is close to four-year highs, trading just below $80 a barrel, as investors bet that Opec will be unable to compensate fully for the loss of oil from Iran, Opec's third-biggest producer. (more...)

« 1 2 3 4 5 6 7 8 9 10 next »