Economy


Harvey triggers gasoline-price surge just in time for Labor Day Harvey triggers gasoline-price surge just in time for Labor Day
- September 03, 2017

The Colonial Pipeline , which carries huge amounts of gasoline and other fuel between Houston and the East Coast, is shutting down after Hurricane Harvey forced the closure of refineries and some of the pipeline's own facilities. Gas prices have skyrocketed at local pumps and we are receiving calls from concerned drivers about price gouging. The system hauls about 660,000 barrels a day of gasoline, diesel, fuel oil or jet fuel from the Gulf Coast region to the Chicago area. (more...)
Gas prices spiking in Tennessee; analysts point to Hurricane Harvey Gas prices spiking in Tennessee; analysts point to Hurricane Harvey
- September 03, 2017

It also has 15 storage locations to serve customers, and connects to more than 260 terminals. "Costco has cheap gas and my tank is empty and I'm not sure how much longer I will have to wait for prices to go back down", he said. AAA Alabama Spokesman Clay Ingram said only a portion of the 5,500-mile pipeline - from Lake Charles, Louisiana, to Texas - is closed. Columbia came in at #18 with a hike of.249 cents a gallon. (more...)
Near-Record Temperatures as San Diego Heat Weave Continues into Weekend Near-Record Temperatures as San Diego Heat Weave Continues into Weekend
- September 03, 2017

The National Weather Service says the temperature in San Francisco reached 94 degrees even before noon Saturday, setting the heat record for September 2. The extreme heat sent Michelle Ogburn to a cooling center set up in Santa Clara's North Branch Library, one of many that were opened throughout the state . (more...)
Frankfurt evacuates thousands to defuse World War II bomb Frankfurt evacuates thousands to defuse World War II bomb
- September 03, 2017

Police set up cordons around the evacuation area, which covered a radius of 1.5 kilometers, as residents hauling suitcases or riding bicycles left the zone. Officials estimate that 15 per cent of the bombs failed to explode, some burrowing six metres deep. In July, a kindergarten was evacuated after teachers discovered an unexploded World War Two bomb on a shelf among some toys. (more...)
Harvey Floods Port Arthur Shelter; Evacuees Forced to Evacuate Again Harvey Floods Port Arthur Shelter; Evacuees Forced to Evacuate Again
- September 02, 2017

Elsewhere in the Gulf City, tired evacuees at the Bowers Civic Center were overrun by floodwaters spawned by Harvey, according to Jefferson County sheriff's deputy Marcus McLellan. That doesn't include people who fled the area early to find a dry bed in hotel rooms and with family and friends, which is more hard to track. "This is just as bad if not worse than flooding in Houston ". (more...)
Ontario gas prices headed for major spike in wake of Harvey
- September 02, 2017

Dan McTeague, senior gas analyst at GasBuddy.com, calls it "the Hurricane Harvey Effect" as the storm has a major pipeline and 16 refineries in the United States offline. If you own a auto in Montreal, you may be rather unhappy in the weeks to come, because gas prices have gone up and will probably continue to do so. (more...)
Why It Matters That Alexa and Cortana Are Going To Work Together Why It Matters That Alexa and Cortana Are Going To Work Together
- August 31, 2017

Because people use and interact with all kinds of products, we're very excited to announce a first-of-its-kind collaboration with Amazon between Cortana and Alexa that will offer more choice, value and access to both intelligent personal assistants. (more...)
Gas Prices Up In Missouri Gas Prices Up In Missouri
- August 31, 2017

Nationally, wholesale gasoline prices will likely rise by an average of two to four cents per litre by Thursday, meaning consumers in certain markets could see much higher price increases. That's considerably lower than the national average of $2.40. About 19 percent of oil refining capacity on the Gulf Coast is offline. Hurricane Harvey has already had an impact on gas prices, and it's expected to continue having an impact for weeks to come. (more...)
Oil prices gyrate as market grapples with U.S. hurricane damage Oil prices gyrate as market grapples with U.S. hurricane damage
- August 31, 2017

Brent crude futures were down 6 cents, at $51.94 a barrel. Refineries with output of at least 4.4 million barrels per day (bpd) were offline on Tuesday, representing almost 24 percent of USA production, according to Reuters estimates and company reports. (more...)
Second Quarter GDP Upwardly Revised from 2.6% to 3.0% Second Quarter GDP Upwardly Revised from 2.6% to 3.0%
- August 31, 2017

Economists had expected that second-quarter GDP growth would be raised to a 2.7% rate. Economists surveyed by MarketWatch expected a smaller upward revision in second-quarter GDP to a 2.8% rate. The growth rate in the January-March quarter was a lacklustre 1.2%. Rest of the upward revision was connected to non-residential fixed investment that rose 6.9 percent from the initial estimate of 5.2 percent. (more...)
Thousands of Flights Canceled as Tropical Storm Harvey Batters Texas Thousands of Flights Canceled as Tropical Storm Harvey Batters Texas
- August 29, 2017

United ( ual ), Southwest ( luv ), Delta ( dal ) and many others are issuing travel vouchers to customers whose flights were canceled. It has since lingered around Texas' Gulf Coast, where it is forecast to remain for several more days, drenching parts of the region with a year's worth of rain in the span of a week. (more...)
Gilead Has Earned the Benefit of the Doubt Gilead Has Earned the Benefit of the Doubt
- August 29, 2017

The stock rose 2.82% or $2.08 reaching $75.87. Amgen, Inc. (NASDAQ:AMGN) has risen 5.27% since August 28, 2016 and is uptrending. It has outperformed by 43.42% the S&P500. 111 funds opened positions while 421 raised stakes. Parametric Port Ltd has 322,303 shares for 0.01% of their portfolio. Moreover, American Rech & Commerce has 0.11% invested in Gilead Sciences , Inc. (more...)
Grocery stocks fall again as Amazon cuts prices at Whole Foods Grocery stocks fall again as Amazon cuts prices at Whole Foods
- August 29, 2017

Other price drops include organic rotisserie chicken ($13.99 to $9.99); Whole Trade bananas (.79 cents per pound to.49 cents per pound); and tilapia ($11.99 per pound to $7.99 per pounds). But Whole Foods is a different story, because Whole Foods is a different business model, with revenue growth plateauing and net income falling, which has all impacted gross margins and operating margins. (more...)
Commodities: Greenback on the backfoot after Yellen speech, gold the main beneficiary Commodities: Greenback on the backfoot after Yellen speech, gold the main beneficiary
- August 27, 2017

The Dodd-Frank law and regulations put in place since the financial crisis have made the financial system "substantially safer", Federal Reserve Chairwoman Janet Yellen said Friday in a ringing defense of the rules now under fire from President Donald Trump and J.P. (more...)
Whole Foods slashing prices Monday on these 10 items Whole Foods slashing prices Monday on these 10 items
- August 27, 2017

On Wednesday, the United Food and Commercial Workers International Union renewed its criticism of Amazon, asking the Whole Foods board and shareholders to guarantee protections for workers' jobs and salaries after the deal. According to Morgan Stanley, Whole Foods prices are now about 15 percent higher than the average grocery store. Signs at the Westport store this week promoted Whole Foods' delivery services; this week, Stew Leonard Jr. (more...)
Trump Warns of NAFTA Treaty Termination Trump Warns of NAFTA Treaty Termination
- August 25, 2017

The leaders of Canada and Mexico have indicated their willingness to work with the Trump administration, and although vague on the exact terms that he will be seeking in a renegotiated NAFTA, Trump has threatened to withdraw from it if negotiations fail. (more...)
Amazon Prime benefits will soon arrive within Whole Foods stores Amazon Prime benefits will soon arrive within Whole Foods stores
- August 25, 2017

Shares of J.M. Smucker and Hormel Foods fell sharply Thursday after weaker-than-expected earnings as consumers continue to turn down packaged foods in favor fresher offerings, especially as Amazon prepares to take over organic grocery chain Whole Foods Market. (more...)
Let's not kid ourselves, Trump's NAFTA bluster matters Let's not kid ourselves, Trump's NAFTA bluster matters
- August 25, 2017

It went into effect in 1994. Talks began Wednesday in Washington, D.C., among trade officials from the United States, Canada and Mexico on modernizing the North American Free Trade Agreement . Trump's comments looked set to devalue a strong rebound in USA stocks on Tuesday, when they enjoyed their best one-day percentage increases in over a week as lawmakers' comments on tax reform and the debt ceiling increased investor optimism. (more...)
Apple scales back self-driving ambitions, shifts focus to campus shuttle service Apple scales back self-driving ambitions, shifts focus to campus shuttle service
- August 25, 2017

Apple's automotive ambitions might finally come to life near its sprawling new headquarters, but we shouldn't expect to see an Apple Car anytime soon. Apple's in-house vehicle team have been working extensively on different projects since "Project Titan" in 2014 . Reports earlier in the year suggested Apple had realized the scale of the challenge it was facing, were it to try to develop its own vehicle from scratch , with leaks earlier in the week indicating a "more modest" ... (more...)
Trump Threatens Shutdown, Attacks GOP Senators During Angry Rally
- August 25, 2017

In Trump's view, the rule which was one of the citable notes in his last night rally speech in Phoenix and the cause of his Obamacare repeal failure - is a great impediment to his developmental agendas as it has hindered the passage of his treasured bills at the floor of the Senate. (more...)
Chad Henne picked to start Jags' next preseason game over Blake Bortles Chad Henne picked to start Jags' next preseason game over Blake Bortles
- August 24, 2017

He's made 22 starts for the Jags, but none since Bortles took over in September 2014. He has only played one regular season snap in the last two years combined. Because of Bortles' unimpressive work in practices, Marrone gave Henne several drives with the first-team offense against the Bucs. This is a team that recently hit paydirt with free agent Malik Jackson, signing him away from the Broncos and watching him ably anchor the defensive line in 2016. (more...)
Cisco to acquire software developer Springpath for Dollars 320 mln Cisco to acquire software developer Springpath for Dollars 320 mln
- August 24, 2017

Moreover, Jupiter Asset Management Ltd has 8.31% invested in the company for 7.37 million shares. It has outperformed by 20.71% the S&P500. Cisco Systems, Inc . Following the completion of the sale, the senior vice president now owns 178,577 shares of the company's stock, valued at approximately $5,587,674.33. (more...)
Severe Thunderstorm Warnings, Watches in Effect for Parts of New England Severe Thunderstorm Warnings, Watches in Effect for Parts of New England
- August 24, 2017

The watch is in effect until 9 pm. The entire region could see severe storms with high winds, torrential rain and frequent lightning. "Convection will likely strengthen/redevelop by midday or early afternoon across OH and western NY, and storms will subsequently spread eastward across Pennsylvania and NY through the afternoon", the SPC continues. (more...)
Ford offers drivers £2000 to scrap older cars Ford offers drivers £2000 to scrap older cars
- August 23, 2017

The scheme will run to the end of the year and is effective for registrations from 1st September to 31st December. On average, consumers will be provided with around £2,000 off a range of new ford models which range from £12,000 to over £20,000. (more...)
Sempra Energy Is the Mystery Third Bidder For Oncor Electric Sempra Energy Is the Mystery Third Bidder For Oncor Electric
- August 22, 2017

The $9.45 billion cash deal to acquire Energy Future and its ownership in Oncor includes Sempra's assumption of Oncor's debt, making the total value of the transaction $18.8 billion. Reed added: "It is important for Oncor to remain financially strong". The purchase also should address the concerns of the Texas regulators, creditors, and the U.S. (more...)
Taylor Swift Posts Snake Video Clip, Heightens Anticipation For New Music Taylor Swift Posts Snake Video Clip, Heightens Anticipation For New Music
- August 22, 2017

The pop star posted a mysterious, silent, 10-second video to her social media accounts that fans took as a tease to a forthcoming album. "Is she about to slither back into our hearts?" For fans the most unconditional, the release of the first single of his next album would seem the most plausible explanation. (more...)
Amazon's new 'Instant Pickup' service promises items in two minutes or less Amazon's new 'Instant Pickup' service promises items in two minutes or less
- August 17, 2017

To that end the company is making major investments in logistics, including a fleet of air freighters, and also experimenting with different networks of physical stores, ranging from bookstores to grocery pickup locations. The items came from the back of the store, where I saw workers fulfilling the orders. Instant Pickup is now the fastest service for getting Amazon items, beating out Prime Now , which typically takes a few hours, and AmazonFresh Pickup , which you'll have to wait an ... (more...)
More Travel Chaos In London After Train Derailed At Waterloo More Travel Chaos In London After Train Derailed At Waterloo
- August 16, 2017

South West Trains said in a statement: "A points problem and an operational incident between Vauxhall and London Waterloo is causing disruption to journeys between these stations". The partially derailed train blocked three platforms, according to Network Rail spokesman Chris Denham. Today's disruption also comes as SWT embarks on a large-scale series of works to improve the station between 5-28 August. (more...)
United States stocks fall on North Korea worries United States stocks fall on North Korea worries
- August 14, 2017

Investors' unease over escalating tensions between the USA and North Korea pushed gold and bond prices higher. US stock benchmarks were setting up for more losses Friday, with the S&P 500 facing its worst weekly performance since November, as U.S. (more...)
Gold settles at 2-month high amid geopolitical tensions Gold settles at 2-month high amid geopolitical tensions
- August 13, 2017

The Nasdaq composite fell 35 points, or 0.5 percent, to 6,336. Equities in Asia were trading mixed in Thursday's trade, although geopolitical tensions continue to weigh on the Asian equities. Meanwhile, gold demand in India remained sluggish this week as local prices jumped to their highest level in almost three months and a rally in global prices dampened fresh buying elsewhere in Asia. (more...)
US Consumer Prices Rose Slightly in July US Consumer Prices Rose Slightly in July
- August 12, 2017

Over the past 12 months, wholesale prices are up a moderate 1.9 percent, while core prices have risen 1.8 percent. At the time of the report, the Euro was down 0.17% against the Dollar at $1.1752, with the Euro aiming for $1.18 levels should Eurozone inflation figures impress and U.S numbers disappoint through the day. (more...)
The questions Google's CEO will have to answer today The questions Google's CEO will have to answer today
- August 11, 2017

Neither Damore nor Mountain View, California-based Google responded to a request for comment for this article . - The Google campus on Thursday morning was buzzing with activity ahead of the "town hall" meeting to be hosted by Google's CEO. (more...)
United States stocks fall again on North Korea fears United States stocks fall again on North Korea fears
- August 10, 2017

In the United Kingdom, the stock of TV giant ITV was down 1.9 percent in early trading, and Sky shares were down 0.5 percent, while Germany's ProSiebenSat.1 fell 1.2 percent. defense index .DJUSDN was up 1.48 percent after hitting a record high. Travel companies Priceline.com and TripAdvisor also weighed on markets, with shares falling more than 7%. (more...)
SoftBank's CEO is interested in investing in Uber or Lyft SoftBank's CEO is interested in investing in Uber or Lyft
- August 08, 2017

Mr Son said: "We are interested in discussing with Uber". Japanese tech giant SoftBank wants a piece of the US ride sharing market. The idea of a merger was ruled out by United States regulators in 2014 under the Obama administration but with the new Trump administration in place, preliminary discussions began again earlier this year. (more...)
Super Thursday: Bank of England keep rates on hold at 0.25pc Super Thursday: Bank of England keep rates on hold at 0.25pc
- August 06, 2017

That could have consequences for monetary policy, depending on the evolution of demand", Carney said. Lombard Odier Investment Managers investment strategist Charles St-Arnaud said the BoE's ability to raise interest rates by the end of the year would continue to be hampered by the Brexit negotiations. (more...)
'Pharma Bro' Shkreli is convicted at securities fraud trial 'Pharma Bro' Shkreli is convicted at securities fraud trial
- August 05, 2017

He was tried in relation to a drug company he previously headed and a hedge fund he managed. The defense tried to undercut the testimony of the prosecution's witnesses, portraying them as rich sophisticates who didn't carefully read the documents Shkreli gave them. (more...)
Teva to fire 7000 employees worldwide after reports of $6 billion loss Teva to fire 7000 employees worldwide after reports of $6 billion loss
- August 05, 2017

Guinness Asset Management Ltd acquired 100,250 shares as Teva Pharmaceutical Inds Ltd ( TEVA)'s stock declined 15.11%. Teva Pharmaceutical Industries Ltd . Teva Pharmaceutical Industries Limited had a net margin of 1.49% and a return on equity of 16.38%. The company had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.72 billion. (more...)
TODAY'S CHARTS: Why Apple doesn't want a big revenue beat TODAY'S CHARTS: Why Apple doesn't want a big revenue beat
- August 03, 2017

Adjusted earnings per share for the entire company rose to $1.67, which topped the Wall Street consensus forecast of $1.57 a share. It was seen as particularly impressive given the fact its new iPhone 8 and 7S models are expected to be released in September, despite doubts that weak availability of key chips could hit the launch. (more...)
Next Air Force One Planes Could Come from Bankrupt Russian Airline Next Air Force One Planes Could Come from Bankrupt Russian Airline
- August 03, 2017

Instead they are considering reconfiguring a pair of jumbo Boeing 747-8 planes originally built for a defunct Russian airline that went bankrupt in 2015, according to a U.S. Boeing sells 747-8s at about $390 million apiece, but defensive technologies, fancy interiors and other enhancements would massively add to the overall cost. (more...)
Teen jumps from plane onto SFO tarmac Teen jumps from plane onto SFO tarmac
- August 03, 2017

Airport spokesman Doug jaeckel said that the builders who were working near detained the teenager until the police arrived. The teen's name has not been released. Copa Airlines officials were not immediately available Wednesday for further comment. Passenger Matt Crowder said people sitting near the exit row stood up and shouted when the boy jumped. (more...)
United Kingdom manufacturing PMI beats with 55.1 - GBP ticks up United Kingdom manufacturing PMI beats with 55.1 - GBP ticks up
- August 02, 2017

Although the PMI survey showed growth in manufacturing output cooled to a four-month low, new orders surged nearly to the all-time high hit in April 2010, particularly from overseas, and employment also rose strongly. With several survey measures at, or close to, record highs, confidence has been driven by rising levels of employment and modest rises in consumer prices. (more...)
Bitcoin Cash 'Fork' Causes Uncertainty For Cryptocurrency Community Bitcoin Cash 'Fork' Causes Uncertainty For Cryptocurrency Community
- August 02, 2017

The fork in the bitcoin road has been two years in the making as the cryptocurrency has changed quite a bit since it was first launched in 2009. Further, if they change this decision in future they "would distribute to customers bitcoin cash ( BCC ) associated with bitcoin (BTC) balances at the time of the fork on August 1st, 2017". (more...)
Gboard Update Brings YouTube and Maps Integrations Gboard Update Brings YouTube and Maps Integrations
- August 01, 2017

The Ink feature will allow users to draw and share the image right from the keyboard . Now only available to iOS users , the new feature will let you share your current location and search for your favorite videos. SwiftKey was updated last month to incorporate emoji prediction, upgraded 3D Touch features , new themes and support for additional languages. And as an added bonus, we now support three new languages: Arabic, Hebrew and Farsi. (more...)
Switzerland just inaugurated world's longest pedestrian suspension bridge Switzerland just inaugurated world's longest pedestrian suspension bridge
- August 01, 2017

The new bridge, whose cables weigh about eight tonnes, is equipped with a system to prevent it from swinging, the Zermatt Tourist Board said . Pedestrian suspension bridges are now in a bit of an arms race-the Europabrücke grabbed the "longest" title from Germany's Titan-RT bridge, which only opened this past May. (more...)
Discovery Acquires Scripps Networks for $14.6 Billion Discovery Acquires Scripps Networks for $14.6 Billion
- August 01, 2017

A previous attempt to merge the two companies failed back in 2014, but this latest set of talks has resulted in a deal. Acadian Asset Management LLC bought a new position in shares of Discovery Communications during the first quarter worth approximately $134,000. (more...)
Teavana to close stores in Baton Rouge, Metairie in worldwide shutdown
- July 29, 2017

Reports indicate that stores in the country grew 6-7 percent year-over-year, compared to only 3% in the U.S. Additionally, the company said that it will also be taking 100% ownership of 410 locations in Taiwan. While closing its Teavana stores might seem like a drastic move, consumers shouldn't worry too much about Starbuck's overall well-being. Both deals are expected to close by early next year. (more...)
Government revises GDP growth up slightly over past 3 years Government revises GDP growth up slightly over past 3 years
- July 29, 2017

In the first quarter, real GDP increased 1.2 percent (revised). The recent slowdown in Toronto home sales following provincial measures to rein in the market was starting to weigh on economic growth, with activity at offices of real estate agents and brokers tumbling 6.3 percent. (more...)
Oil Price Reaches Top Level in Almost Eight Weeks Oil Price Reaches Top Level in Almost Eight Weeks
- July 29, 2017

U.S. West Texas Intermediate (WTI) crude September futures were down $0.27%, at $48.91 per barrel. Physical markets have firmed due in large part to very strong refining margins. OPEC agreed to slash the output by 1.2 million barrels per day from January 1. ClipperData LLC, the global leader in real-time tracking of crude oil and petroleum product flows, today announced a no-cost trial of its Global Crude Oil Report to help serious market participants assess crude oil supplies at what ... (more...)
Here's MTA's Fix for Overcrowded Subways Here's MTA's Fix for Overcrowded Subways
- July 28, 2017

Components of the first phase include signal and track maintenance, expanding major overhaul capacity from 950 to 1,100 cars per year to increase reliability, increasing the frequency of station cleaning by 30 percent and overhauling digital communications assets. (more...)
Volkswagen pleads guilty to diesel cheating, as if it had a choice Volkswagen pleads guilty to diesel cheating, as if it had a choice
- July 27, 2017

Mr. Schmidt is one of eight individuals charged in the U.S.in Volkswagen's emissions cheating. Mr. Schmidt is facing 11 felony counts and a maximum sentence of 169 years in prison. An official of German carmaker Volkswagen , arrested earlier this year in the United States in connection with the " dieselgate " case, said on Tuesday his intention to plead guilty , a judicial source said. (more...)