Economy


Alexandria Ocasio-Cortez to Serve on House Financial Services Committee Alexandria Ocasio-Cortez to Serve on House Financial Services Committee
- January 17, 2019

Even if it didn't, Oscasio-Cortez's ensuing comment about Trump's income could strike a nerve: Trump has long claimed to be a self-made billionaire, although a landmark New York Times report in October claimed $413 million of his empire was from his father. (more...)
How Government Shutdown Impact on Operations at Orlando International Airport? How Government Shutdown Impact on Operations at Orlando International Airport?
- January 17, 2019

There have been a number of staffing issues at airports including Miami International and George Bush International. Officials ascribed the closure to staffing issues associated with the partial shutdown. "The longer it goes on, the harder it is on these employees". Officials say there have been no major delays, and no impact on national security. TSA concluded it didn't have enough screeners to keep the security checkpoint operating there amid a spike in unpaid workers not showing up ... (more...)
China warns citizens about 'risks' of visiting Canada amid escalating tensions China warns citizens about 'risks' of visiting Canada amid escalating tensions
- January 17, 2019

Chinese businessmen who travel overseas for the government-run firms are being instructed to only travel with secure, company-issued laptops and should safeguard all important files on secure USB flash drives, reports Bloomberg. Speaking at a daily news briefing, Chinese Foreign Ministry spokeswoman Hua Chunying said Canada's "so-called allies could be counted on ten fingers" and did not represent the views of the wider global community. (more...)
Brexit: MPs vote down Theresa May's deal Brexit: MPs vote down Theresa May's deal
- January 16, 2019

The MP for Esher and Walton told talkRADIO's Julia Hartley-Brewer: "I think the scale of the defeat will affect what the Prime Minister chooses to do next". "The PM and the government will listen to colleagues as we right seek to secure a majority to deliver the democratic will of the British public in the further votes expected next week". (more...)
May says lawmakers opposing her deal may kill Brexit altogether May says lawmakers opposing her deal may kill Brexit altogether
- January 16, 2019

Many opponents of Brexit hope May's defeat will ultimately lead to another referendum on European Union membership, though Brexiteers say that thwarting the will of the 17.4 million who voted for Brexit could radicalize much of the electorate. (more...)
California’s Largest Utility Plans Bankruptcy As CEO Makes For The Exit California’s Largest Utility Plans Bankruptcy As CEO Makes For The Exit
- January 15, 2019

Veteran New York bankruptcy lawyer H. Jeffrey Schwartz said Chapter 11 will allow the company to operate without being burdened by its liabilities. Simon said that a court-supervised bankruptcy "will best enable PG&E to resolve its potential liabilities in an orderly, fair and expeditious fashion". (more...)
Turkey says will not be ‘intimidated’ by Trump threats Turkey says will not be ‘intimidated’ by Trump threats
- January 15, 2019

Tensions have been high between the United States and Turkey over the fate of Washington's Syrian Kurdish allies in the fight against the Islamic State group. A picture shows a Turkish military convoy at Kirikhan on January 12, 2019. Speaking in the United Arab Emirates, Mr Pompeo said he thought it would be possible to reach an agreement which would allow the Turks to defend themselves from terror threats while protecting Kurds - who have been fighting alongside U.S. (more...)
New criminal charge made against Ghosn New criminal charge made against Ghosn
- January 14, 2019

If the bail application is rejected , Ghosn will spend at least another two months in jail, a detention period that can then be extended by the court for a month at a time. But Ghosn's close aide Kelly, 62, who was arrested along with the former chairman for allegedly understating remuneration, has been released on bail, while denying the allegations. (more...)
Apple planning to release three new iPhones in 2019 Apple planning to release three new iPhones in 2019
- January 12, 2019

That is partly because the planned LCD handset has been in the product pipeline for months and the plan can't be altered easily, they said. It just doesn't look Apple to us. Apple has a big year ahead of itself. OnLeaks also backs up earlier rumours that Apple will launch three iPhones this year; successors to the iPhone XS, XS Max and XR. (more...)
Trump sounds alarm over 'invasion' at southern border, after returning from Texas Trump sounds alarm over 'invasion' at southern border, after returning from Texas
- January 12, 2019

Entering its 21st day, the partial shutdown on Friday tied the record for the longest in US history. Watch above via MSNBC. Trump traveled to the southern border in Texas on Thursday to highlight his push for a border wall. Asked about the plight of those going without pay, the president shifted the focus, saying he felt badly "for people that have family members that have been killed" by criminals who came over the border. (more...)
Sears agrees to consider revised takeover bid, staving off liquidation for now Sears agrees to consider revised takeover bid, staving off liquidation for now
- January 09, 2019

The court hearing that was set for Tuesday morning was delayed until the afternoon, a development that Reuters called "sign that Sears and Lampert were continuing to negotiate". Lampert loaned out his own money and put together deals to keep the company going, turning whatever profit he could for his hedge fund. Lampert's offer did not include putting up cash to back the credit bid. (more...)
Ocasio-Cortez says ‘no question’ Trump is a racist Ocasio-Cortez says ‘no question’ Trump is a racist
- January 08, 2019

Many netizens disagreed with Ocasio-Cortez and argued that she had violated the law with her actions. She also supports universal health care, tuition-free public college and massive government investment to combat climate change. NowThis likewise posted a video claiming conservatives tried to "shame" Ocasio-Cortez with the clip, but mostly cited tweets praising her cool dance moves - with not much in the way of criticism beyond the original anonymous tweet. (more...)
Government shutdown could mean delayed tax returns Government shutdown could mean delayed tax returns
- January 07, 2019

A decrease in the number of IRS workers means that tax services aren't able to send information as quickly as usual, which in turn may cause a delay in refunds. If the impasse is resolved before mid-January, the traditional start of tax season , early tax filers may not feel a significant impact. As of Friday, it's unclear when filing season begins. (more...)
Apple is the new Nokia Apple is the new Nokia
- January 07, 2019

But Apple said its revenue miss in China was not due to the production side, but rather the sales side, since Chinese consumers are not buying enough iPhones . Along with macroeconomic challenges, he wrote , "we believe there are other factors broadly impacting our iPhone performance". In his letter , Cook said that more than 100% of the company's worldwide revenue decline was in China for sales of iPhones, Macs and iPads. (more...)
Not anxious about Apple stock; company should build in U.S. Not anxious about Apple stock; company should build in U.S.
- January 05, 2019

Meanwhile, UBS analysts appear more confident that Apple's growing services business, which includes app store and iCloud storage, could help the company make up for slower iPhone sales . Jerry Zigmont, owner of MacWorks, a New Haven, Conn. -based Apple consultancy, told CRN on Thursday that he hopes the troubles in Apple's business will be a "wake-up call for them". (more...)
Tesla cuts prices on poor Q4 Tesla cuts prices on poor Q4
- January 03, 2019

This number is comprised of 63,150 Model 3 (signifying a 13% growth over Q3), 13,500 Model S, and 14,050 Model X vehicles. Musk previously stated that Model 3 reservations had surged to over half a million, but on a recent conference call he went back on this statement saying: "To be more accurate, there have been 518,000 gross reservations for Model 3 and then we have 455,000 net reservations". (more...)
Mega Millions jackpot rises to $415 million Mega Millions jackpot rises to $415 million
- January 03, 2019

There have been 19 consecutive drawings since October 26, 2018, without a jackpot victor. The Mega Millions ticket was one of two winning the third-tier prize in the December 28 drawing. The winning ticket was sold at a minimart BP gas station in Glen Head, New York . It matched all five white balls drawn, 34-44-57-62-70, but not the yellow Mega Ball 14. (more...)
Pace of Reform Will Not Slow, President Xi Says Pace of Reform Will Not Slow, President Xi Says
- January 02, 2019

ANALYST'S VIEWPOINT: "Whilst President Trump has lauded " big progress " in trade talks with China following a phone call with Xi during the weekend, it remains to be seen how much this can boost investor confidence given that market reaction on recent positive development has largely been muted", Mizuho Bank said in a markets commentary. (more...)
6 people injured at BWI Airport from partial jet bridge collapse 6 people injured at BWI Airport from partial jet bridge collapse
- January 01, 2019

An airbridge is the enclosed, movable passageway between the terminal and an aircraft, permitting passengers to board and deplane. This is a breaking story and will be updated . Southwest says the remaining passengers were able to safely exit the plane using air stairs. The airport added that an investigation had been launched into the incident and that the jet bridge would be closed until the end of the probe. (more...)
Sears could face liquidation without last-minute buyer Sears could face liquidation without last-minute buyer
- December 30, 2018

Sears Holdings came close to losing a lot of assets, the corporation owns Sears and Kmart stores nationwide. Another store closing was announced for a location in Muskegon. A representative for Lampert did not respond to multiple requests for comment Friday. Going out of business sales will start within two weeks. So far US Bankruptcy Court Judge Robert Drain, who is hearing the case, has allowed Sears to proceed with plans to stay in business. (more...)
Purchases Via Alexa Tripled Year-Over-Year This Holiday Season Purchases Via Alexa Tripled Year-Over-Year This Holiday Season
- December 29, 2018

These sales could give the company a much needed better outlook after disappointed investors after the company's last earnings reports . Whole Foods Market, which was recently purchased by Amazon also did well, with the top Prime member deal being turkeys. (more...)
Dow Surges 1000+ Points, Largest Single-Day Gain Ever Dow Surges 1000+ Points, Largest Single-Day Gain Ever
- December 29, 2018

On Wednesday, the latest S&P CoreLogic Case-Shiller 20-city composite home price index showed a year-over-year gain of 5%, which was in line with expectations and down from the prior month's annual rate of 5.2%. ENERGY: Benchmark U.S. crude jumped $1.02 to $45.63 per barrel in electronic trading on the New York Mercantile Exchange. The S&P was up four percent Wednesday while the Nasdaq rose 4.8 percent. (more...)
Trump praises Treasury Secretary Mnuchin but hits Fed again on rate rises Trump praises Treasury Secretary Mnuchin but hits Fed again on rate rises
- December 29, 2018

Trump has repeatedly criticized the US Federal Reserve for lifting interest rates, loudly warning the central bank in the lead-up to its December 19 meeting against hiking again. Treasury Secretary Steve Mnuchin may be the latest addition to President Donald Trump's naughty list after his botched attempted to calm the markets. (more...)
Sears to close Fairview Heights location Sears to close Fairview Heights location
- December 29, 2018

Sears associates were told December 27 and liquidation sales are expected to begin in two weeks. Kmart's parent company announced it will close the Grand Forks store in March. Sears declined to comment. He was invested millions into Sears with the help of ESL as he worked to try to keep the Sears alive, including a loyalty program for customers with "Shop Your Way", CNBC said. (more...)
Dow Jones soars 1,086 points in largest single-day increase Dow Jones soars 1,086 points in largest single-day increase
- December 28, 2018

This therefore means that NASDAQ is down by more than 20 percent from the value of 29 of august when it had recorded its high . Data released by Mastercard SpendingPulse showed retailers were having their best holiday season in six years . (more...)
Oil prices rebound after Christmas Eve sell-off Oil prices rebound after Christmas Eve sell-off
- December 27, 2018

LONDON-Oil edged up to $51 a barrel on Wednesday in the wake of achieving its most minimal since June 2017 on observations that a value slide provoked by stresses over the worldwide economy had been exaggerated in the midst of an OPEC-drove exertion to fix supply. (more...)
Is Costco Open or Closed on Christmas Day 2018? Is Costco Open or Closed on Christmas Day 2018?
- December 26, 2018

The Beer Store will be closed Christmas Day but will be open from 10 a.m.to 6 p.m. on Boxing Day . All South Florida malls and Walmart and Target stores are closed on Christmas Day . If you're looking for some good Christmas deals, they're offering some holiday specials for 2018 that you can still take part in, even after Christmas. (more...)
German court bans some iPhone sales over Qualcomm dispute German court bans some iPhone sales over Qualcomm dispute
- December 23, 2018

Luckily for Apple, its higher-margin iPhone XS , iPhone XS Max and iPhone XR are not affected by the injunction. According to a German court iPhone 7 and 8 models with Intel modems infringe on one Qualcomm patent. This latest development may put a spotlight on how Qualcomm's victories in other territories may have been built on fragile legal maneuverings that would not fly in USA courts. (more...)
Amazon Alexa user given access to stranger’s conversations Amazon Alexa user given access to stranger’s conversations
- December 23, 2018

After the man contacted Amazon to let them know of the mistake, Amazon took away his access to the files, but not before he had downloaded them to his computer. The recordings apparently consisted of conversations between a man and woman. One user emailed Amazon asking for all the personal data the company had stored on him. (more...)
Nissan boss Carlos Ghosn rearrested on new charge Nissan boss Carlos Ghosn rearrested on new charge
- December 23, 2018

The Tokyo prosecutor said the fresh allegations were based on suspicions that around October 2008, Ghosn shifted personal trades to the automaker so that he could avoid paying for 1.85bn yen ($16.6m) in losses. He was later re-arrested for a similar alleged crime covering the past three years. Ghosn's lawyers have previously denied such suspected wrongdoing, which was reported by the Asahi newspaper last month but wasn't part of the original indictment last week. (more...)
US Federal Reserve raises rates and trims outlook for 2019 rate increases US Federal Reserve raises rates and trims outlook for 2019 rate increases
- December 22, 2018

The Standard & Poor's 500 index shed 1.54 percent, while the Nasdaq dropped 2.17 percent. Economic concerns have wiped out 5,500 points, or 13%, from the Dow since the October 3 record high. In a unanimous decision, the Fed delivered on what some economists called a "dovish hike", raising the target range for the federal funds rate by 0.25 point, with 2.5 percent at the high end, while providing the clearest signal to date of a cautious stance moving forward, especially as it keeps an eye ... (more...)
Deal With AB InBev Gives Tilray Stock a Pop Deal With AB InBev Gives Tilray Stock a Pop
- December 22, 2018

It's the latest major company to start exploring the pot market following decisions to legalize recreational marijuana in Canada and a number of American states . With Democrats winning control of the US House of Representatives, Congress may finally pass the Farm Bill, which would make it legal to produce hemp and potentially open the door for more products containing cannabidiol (CBD), a element found in cannabis. (more...)
China’s Huawei says it has secured over 25 commercial 5G contracts China’s Huawei says it has secured over 25 commercial 5G contracts
- December 21, 2018

Chief Financial Officer Meng Wanzhou as part of a US -led extradition bid, though Beijing has deflected questions about any link between the detained Canadians and the Chinese executive's case. The cost of building an entire 5G network in Australia would be higher by several billion dollars, said Hu, adding that was what even worse was that the time for people to adopt and use 5G technology would be delayed. (more...)
How major U.S. stock indexes fared Tuesday How major U.S. stock indexes fared Tuesday
- December 21, 2018

MARKETS OVERSEAS: In Europe, Germany's DAX rose 0.3 percent, while France's CAC 40 dripped 0.3 percent and the FTSE 100 in London dropped 0.6 percent. "The hiatus on trade helps as well, but I'm a bit more skeptical about how long lasting that is", Ronald Temple, head of USA equity at Lazard Asset Management, told Bloomberg TV.The Fed is likely to hike rates on Wednesday, even as President Donald Trump intensifies his attacks on the central bank. (more...)
President Putin says West trying to 'hold back' powerful Russian Federation President Putin says West trying to 'hold back' powerful Russian Federation
- December 21, 2018

It now seems to be impossible, something not of crucial importance. "If, God forbid, something like that were to happen, it would lead to the end of all civilization and maybe also the planet", said Putin . The U.S. has said it would exit the agreement because Russian Federation had violated its terms. Russia will be forced to develop new weapons systems, the Russian leader signaled. (more...)
Facebook responds to claims that it shared users' private messages Facebook responds to claims that it shared users' private messages
- December 20, 2018

In addition, streaming services such as Netflix , Spotify were able to access "users' private messages", including the ability to "read, compose and delete messages, and to see all participants on a thread", NTY reported . Facebook said it has "been public about these features and partnerships over the years" and that most are now gone, but admitted it needed to do more. (more...)
Fake package covers porch pirates in glitter and fart spray Fake package covers porch pirates in glitter and fart spray
- December 19, 2018

After the thief nabs it, it first gloriously sprays a pound of glitter when opened and then follows up by spurting out fart spray every 30 seconds. And judging by the almost 14 million views of his video after just a day on YouTube , he could give Santa Claus competition in a Christmas popularity contest. (more...)
Fed draws White House fire as it prepares to raise rates Fed draws White House fire as it prepares to raise rates
- December 19, 2018

Donald Trump has stepped up his pressure on America's central bank to shelve plans for an expected increase in interest rates to prevent the bleakest December for Wall Street since the USA was in the throes of the Great Depression. There are also fears that the brisk pace of USA growth this year reflected something of a sugar high, with the economy artificially pumped up by tax cuts and a boost in government spending. (more...)
Johnson & Johnson shares drop after asbestos report
- December 15, 2018

It said nearly 12,000 plaintiffs were suing the company, claiming that its talc caused cancer. The documents , says Reuters , show company executives and scientists discussing how to address the issue, but not disclosing it to health officials or consumers. (more...)
Canadian with North Korea ties detained after Huawei arrest Canadian with North Korea ties detained after Huawei arrest
- December 15, 2018

He said Beijing security and state security officials in the city of Dandong, Liaoning Province had taken measures against Spavor and Kovrig. It gave no further details. Canada Goose representatives didn't immediately respond to phone calls and emails seeking further comment. "Canada and China mutually agreed to postpone the Canada-China Year of Tourism Closing Ceremony and Minister Joly's planned travel to China", her office said in a statement. (more...)
RBI Governor Shaktikanta Das to meet heads of PSBs, private banks RBI Governor Shaktikanta Das to meet heads of PSBs, private banks
- December 14, 2018

Das ensured that he would take adequate measures which the economy requires in a timely manner, adding that he will be meeting public sector bank chiefs in the near future. "Wouldn't go into issues between RBI and government but every institution has to maintain its autonomy and also adhere to accountability", RBI Governor Das said. (more...)
Apple to open $1B campus in Austin, Texas Apple to open $1B campus in Austin, Texas
- December 14, 2018

The major expansion announced today comes in several parts, the biggest of which is a new 133-acre campus in Austin with an investment of $1 billion. Rumors have persisted all year that the company would establish a significant office space, Harald said, along with chatter about tech peers Amazon and Facebook setting up shop here, too. (more...)
US Energy Secretary Perry To Saudis: We Want Stable Supply And Prices US Energy Secretary Perry To Saudis: We Want Stable Supply And Prices
- December 13, 2018

Given that it took the influence of Russian energy minister Alexander Novak to broker a deal as OPEC's meeting unexpectedly stretched into two days, the market may yet need convincing that the group will actually deliver the cuts it promised. (more...)
Google rules out a Chinese search engine Google rules out a Chinese search engine
- December 13, 2018

Pichai stressed that users opt in to certain data-tracking features, giving the example of fitness apps that measure steps. Lofgren, who represents San Jose, California, said before asking the question that she believes "it's important to talk about how search works". (more...)
Canadian detained in China as Huawei CFO returns to court Canadian detained in China as Huawei CFO returns to court
- December 13, 2018

Prime Minister Justin Trudeau's government distanced itself from the detention of Meng, saying Canada's justice system is independent and there wasn't any political involvement in the case. China had threatened severe consequences unless Canada released the Huawei executive. "If the USA government wants to make a positive effort to promote the settlement of the issue, we welcome them", he told reporters in Beijing . (more...)
THE DEBATE - Aye or Nay? Theresa May faces leadership challenge over Brexit THE DEBATE - Aye or Nay? Theresa May faces leadership challenge over Brexit
- December 13, 2018

By promising to step down before 2022, the prime minister hoped to peel off MPs who fear she would be an electoral liability, but she also risked further undermining her already fragile authority. Seeking Concessions May was informed of the challenge late on Tuesday, after returning from a tour of European capitals in an attempt to salvage her Brexit deal. (more...)
O2 will pay up for loss of service O2 will pay up for loss of service
- December 10, 2018

The O2 network across the United Kingdom is down, affecting millions of mobile phone users. Customers on o2, Tesco Mobile, Sky Mobile and GiffGaff have also been hit by the outage. "We'd encourage you to use Wi-Fi wherever you can and we are really sorry". "We understand how important it is to stay connected, especially at this time of year", a company spokeswoman said. (more...)
China promises action on U.S. trade deal but gives no details China promises action on U.S. trade deal but gives no details
- December 08, 2018

US President Donald Trump has threatened to impose stiff tariffs on cars assembled in the European Union as part of his "America First" trade policy. "And it'll have an incredibly positive impact on farming, meaning agriculture, industrial products, computers - every type of product". Both sides will immediately hold talks on structural changes concerning forced technology transfers made by Chinese firms on US companies, intellectual property rights protection, non-tariff trade barriers, ... (more...)
Crude Oil Price Forecast - crude oil markets fall hard again on Thursday Crude Oil Price Forecast - crude oil markets fall hard again on Thursday
- December 07, 2018

He tells reporters the nations are "after a stable market and also a fair price for the producers as well as the consumers". A cut of a million barrels would be the minimum to support the market, and anything less could see the price of oil fall another $10 a barrel, according to Wilson. (more...)
Huawei CFO arrested in Canada for alleged trade with Iran Huawei CFO arrested in Canada for alleged trade with Iran
- December 07, 2018

A bail hearing for her extradition is set for Friday. Canada's Justice Ministry has released few details, citing a publication ban called for by Meng. It is not clear whether President Donald Trump knew about the arrest in advance. These include director of the worldwide accounting department, chief financial officer of Huawei Hong Kong and president of the accounting management department, the website said. (more...)