Economy


China GDP Growth Slows to 6.2 Pc in Second Quarter China GDP Growth Slows to 6.2 Pc in Second Quarter
- July 16, 2019

China's trading partners and financial markets are closely watching the health of the world's second-largest economy as the Sino-U.S. trade war gets longer and costlier, fuelling worries of a global recession. Forecasters had expected China's economy to rebound in late 2018 but pushed back that target after President Donald Trump hiked USA tariffs on Chinese imports to pressure Beijing over its efforts to develop advanced technologies. (more...)
Trump says cryptocurrencies are too volatile, based on 'thin air' Trump says cryptocurrencies are too volatile, based on 'thin air'
- July 15, 2019

On Thursday the US President Mr. Donald Trump said , "I am not a fan of cryptocurrency , and that Facebook might want to seek a banking charter if they want to launch their own currency". "Indeed, it is now nearly universally regarded as the future of money". The President's remarks are aimed towards throttling Facebook's development, but this has also sparked a flurry of replies from cryptocurrency advocates. (more...)
Europe stocks rally wanes on trade woes, earnings jitters Europe stocks rally wanes on trade woes, earnings jitters
- July 13, 2019

That allayed investors' concerns that unexpectedly strong U.S.jobs data reported Friday might give the Fed reason to hold interest rates. Trump has criticized Powell and his colleagues on a regular basis for nearly a full year - first calling on the Fed to stop, and then to reverse, its 2018 interest-rate increases. (more...)
Ford and VW Teaming Up on Electric Vehicles Ford and VW Teaming Up on Electric Vehicles
- July 13, 2019

The tie-up has been in the works for months and is another in a long string of industry partnerships as auto companies and tech firms try to spread the enormous costs of developing self-driving and electric vehicles . Also under the deal, Ford will use VW's new modular electric vehicle underpinnings to build zero-emissions vehicles for the European market starting in 2023. (more...)
Greek conservative government sworn in Greek conservative government sworn in
- July 12, 2019

As part of those agreements, Greece has pledged to achieve government budget surpluses, before debt costs, of 3.5 percent of GDP for the coming years. Hundreds of conservative supporters braved the summer heat to greet him outside the prime minister's official residence, chanting: "There his is!" In January 2015, Alexis Tsipras , leader of the radical-left Syriza, rode a popular wave against the austerity measures imposed on Athens by the European Union, oligarchs and income inequality, to ... (more...)
Oil rises more than 1% after US stockpile drop; Brent nears $65 Oil rises more than 1% after US stockpile drop; Brent nears $65
- July 11, 2019

Brent crude oil , against which Nigerian oil is measured, closed at $63.90 a barrel on Monday, down from $65.11. Business and authorities knowledge for launch afterward Tuesday and on Wednesday is predicted to point out that USA crude stockpiles fell for a fourth consecutive week, dropping 3.6 million barrels, in keeping with a preliminary Reuters ballot. (more...)
Chick-Fil-A offers free entrees if you dress as a cow Chick-Fil-A offers free entrees if you dress as a cow
- July 10, 2019

Whether you tape black spots on a white T-shirt or go full-blown mascot, the restaurant will treat you to a free entree July 9 for Cow Appreciation Day . Children will get a free kid's meal for dressing up, while adults can pick from almost every entree on the menu with the exception of salads. Free entrees for Cow Appreciation Day must be redeemed in the restaurant and can not be received through the Chick-fil-A app. (more...)
Mobile service providers working to resolve country-wide wireless outage Mobile service providers working to resolve country-wide wireless outage
- July 09, 2019

Sunday. At the moment they say there is no estimated time of restoration of service. "Some customers may still experience intermittent wireless voice service", he said. "We are working diligently to restore services as soon as possible". The problem is described as nationwide, but it is not clear how many customers have been affected and when the issue will be resolved. (more...)
Pig-ear dog treats linked to salmonella outbreak in 13 states
- July 07, 2019

Salmonella cases linked to this outbreak have been reported in California, North Dakota, Kansas, Iowa, Missouri, Wisconsin, Illinois, Michigan, Indiana, South Carolina, Pennsylvania, New York and MA. CDC officials say those who are at risk for being infected should wash their hands thoroughly after handling dog treats, don't let pets lick your mouth or face after eating treats, and keep small children away from the treats. (more...)
For Canadian students, the summer job market is vastly improved For Canadian students, the summer job market is vastly improved
- July 06, 2019

The unemployment rate rose to 5.5 per cent, after reaching a four-decade low of 5.4 per cent in Would possibly presumably also simply. Year-over-year average hourly wage growth for all employees was 3.8 per cent in June, giving the indicator its strongest month since May 2018 and second-best reading in a decade. (more...)
Fire that torched 45K Jim Beam whiskey barrels still burns in Kentucky Fire that torched 45K Jim Beam whiskey barrels still burns in Kentucky
- July 06, 2019

Officials with the Department of Fish and Wildlife are counting dead fish on the Kentucky River in search of an estimate of the number of fish affected by bourbon runoff from the Jim Beam warehouse fire that started Tuesday, according to authorities. (more...)
Australia's central bank cuts cash rate to record-low 1.0% Australia's central bank cuts cash rate to record-low 1.0%
- July 04, 2019

Two of the four big banks didn't pass on the full rate cut to customers in June, and product comparison site Canstar says they've only passed on half of the full rate cuts since 2011. It said it would lower rates again "if needed", which suggested that an additional rate cut was less likely than previously thought, analysts said. (more...)
Russia, Saudi Arabia agree to prolong OPEC oil agreement Russia, Saudi Arabia agree to prolong OPEC oil agreement
- July 02, 2019

OPEC meets in Vienna on Monday followed by talks with Russian Federation and other allies, a grouping known as OPEC +, on Tuesday. OPEC ministers are scheduled to meet on July 1 in Vienna to discuss their production policy for the next few months. (more...)
Trump and Xi agree to resume trade talks Trump and Xi agree to resume trade talks
- June 30, 2019

U.S. President Donald Trump attends a bilateral meeting with China's President Xi Jinping during the G-20 leaders summit in Osaka , Japan, June 29, 2019. Trump said negotiations with China are " back on track " after an "excellent" meeting with the Chinese president, who warned him of the risks posed by 'confrontation'. (more...)
Newark Liberty International Airport briefly grounds all flights following ‘airport emergency’ Newark Liberty International Airport briefly grounds all flights following ‘airport emergency’
- June 30, 2019

At about 8:20 a.m., United Flight 2098, which is an Airbus 319, landed on Runway 22L at Newark, a law enforcement source told ABC News. The airport reopened an hour later but reported heavy delays. The airport's Twitter account said at 8:46 a.m. that both inbound and outbound flights were stopped due to the emergency, but tweeted at 9:37 that flights have resumed with delays. (more...)
Apple Moves Mac Pro Production From US to China Apple Moves Mac Pro Production From US to China
- June 29, 2019

Last week, Apple asked its major suppliers to assess the cost implications of moving 15 per cent-30 per cent of their production capacity from China to Southeast Asia as it prepares for a restructuring of its supply chain, according to a Nikkei Asian Review report . (more...)
AbbVie to buy Botox maker Allergan in US$63-billion deal AbbVie to buy Botox maker Allergan in US$63-billion deal
- June 26, 2019

Gonzalez said the acquisition would allow the company to diversify its drug lineup while continuing to develop new treatments. The combination could solve those problems for AbbVie Inc., based in North Chicago, Illinois, and Allergan , which is based in Dublin on paper but operates from headquarters in Madison, New Jersey. (more...)
Eldorado Resorts buying Caesars in $17 billion casino merger Eldorado Resorts buying Caesars in $17 billion casino merger
- June 25, 2019

Eldorado Resorts, a regional casino operator with 26 properties in 12 states, will acquire Caesars in a cash-and-stock deal valued at about $17.3 billion. It had 53 properties in 14 USA states and five countries outside the United States at the end of December. Mr Icahn said he was "pleased" by the deal, adding in a statement: "It is rare that you see a merger where, because of the great synergies, "one plus one equals five". (more...)
Trump eyes more Iran sanctions, says military action still 'on the table' Trump eyes more Iran sanctions, says military action still 'on the table'
- June 24, 2019

And now they say I'm a dove. Plus, he said "If Iran wants to be a wealthy nation again, become a prosperous nation, we'll call it, 'Let's make Iran great again.' Does that make sense?" He said Friday he called off an attack because he decided there would be too many deaths for a proportionate response to the downing of the U.S. (more...)
Air Canada investigating after woman left in empty, locked airplane
- June 24, 2019

She says she woke up still strapped to her seat around midnight - hours after the plane landed at Pearson Airport - and says she was in "complete darkness" and "freezing cold". "He tried exiting out of the front door, and we stopped him, so we went to his seat and we turned on the lights bright". "As someone with an anxiety disorder as is I can tell you how terrifying this was". (more...)
Apple Recalling Some MacBook Pro Models Due to Batteries Apple Recalling Some MacBook Pro Models Due to Batteries
- June 21, 2019

Apple has issued a recall of a limited portion of older-generation 15-inch MacBook Pro units after determining that the battery poses a risk of overheating and catching fire. (Just yesterday Apple announced that it would be offering repairs at almost 1,000 Best Buy locations.) Replacing the battery, however, "may take 1 to 2 weeks" with the company advising users to make sure to back up their data first. (more...)
Saudi Arabia’s Flynas agrees to order 10 long-range Airbus A321s Saudi Arabia’s Flynas agrees to order 10 long-range Airbus A321s
- June 21, 2019

Airbus officials avoided directly attacking arch-rival Boeing at a news conference ahead of the world's largest air show as the United States company's competing 737 MAX remains grounded for a third month. carrier Frontier Airlines and 12 to Chile's Jetsmart, the companies announced at a joint news conference at the Paris Airshow. "The inherent aircraft economics of the Airbus A321XLR will widen our competitive advantage for stimulating demand for air travel in Central and Eastern ... (more...)
Federal Reserve defies Trump and leaves interest rates unchanged Federal Reserve defies Trump and leaves interest rates unchanged
- June 21, 2019

The Fed left its key interest rate unchanged in a range of 2.25% to 2.5%, where it has been since December. The dollar fell and benchmark USA and euro zone government bonds fell after the Fed's move. The central bank kept rates unchanged. A specialist broker can deliver you an exchange rate closer to the real market rate, thereby saving you substantial quantities of currency. (more...)
Canadian government approves Trans Mountain pipeline, as expected Canadian government approves Trans Mountain pipeline, as expected
- June 20, 2019

Natural Resources Minister Amarjeet Sohi said he's met with Spahan "a number of times" and the government and Trans Mountain will both continue to work with the band on its unresolved concerns related to the project. "The costs of operating the pipeline and the extra costs associated with road maintenance above the pipeline should be born by the pipeline company", says Stewart. (more...)
Facebook Targets Bitcoin with New Cryptocurrency Facebook Targets Bitcoin with New Cryptocurrency
- June 19, 2019

And as with any cryptocurrency, there's also the risk of hacks or other types of attacks. This influence will manifest after the 12 to 18 months that Facebook will take to integrate the asset into its services. "We've seen this directly in numerous developing markets where we operate", explained the post. "Given its history of managing our data, it shouldn't take much to convince people that Facebook managing our money is probably a awful idea", Neil Campling, head of TMT Research at ... (more...)
USA releases video of Iran allegedly removing unexploded device from stricken tanker USA releases video of Iran allegedly removing unexploded device from stricken tanker
- June 15, 2019

USA and European security officials, as well as regional analysts, have cautioned against jumping to conclusions, leaving open the possibility that Iranian proxies, or someone else entirely, might have been responsible for Thursday's attacks. (more...)
Ford Explorer Recalled for Suspension Problem Ford Explorer Recalled for Suspension Problem
- June 14, 2019

Ford dealers will remove and replace left and right and rear suspension toe links and align the rear suspension. Possible fractured toe links in these select models mean the SUVs could lose steering control and be at risk of crashing. However, it said it was not aware of any reports of accident or injury related to the issue . The plan: The manufacturer aims to recall 4,300 vans, which were built at the Ohio Assembly Plant between May 11, 2009 and December 10, 2015. (more...)
Facebook now wants to Facebook now wants to "study" your phone and pay you for it
- June 14, 2019

They clarified that they will be working with a long-time partner, Applause , to handle the registration, compensation, and customer support. Study will report back to Facebook about the apps that users have on their phones; how much time they spend on those apps; what they do on them, the country they live in, and the type of device they use. (more...)
United States employers add a weak 75,000 jobs; unemployment stays 3 United States employers add a weak 75,000 jobs; unemployment stays 3
- June 11, 2019

US House of Representative Speaker Nancy Pelosi, a Democrat, said the employment report was 'a disturbing sign that the administration's disastrous special interest agenda is hollowing out our economy '. Factory output has been weak and sentiment dropped to a 31-month low in May, with manufacturers anxious mostly about the trade tensions. President Donald Trump's threat to impose tariffs on Mexico following additional tariffs on China, could send the global economy toward a ... (more...)
Trump may delay Mexico tariffs, aide says as trade talks resume Trump may delay Mexico tariffs, aide says as trade talks resume
- June 08, 2019

Trump also noted: "If we are unable to make the deal, Mexico will begin paying Tariffs at the 5% level on Monday!" The tariff rate could eventually reach as high as 25 percent, the White House said. "They need to keep the pressure where it needs to be applied". White House spokeswoman Mercedes Schlapp said in an interview that conversations were continuing but "it looks like we're moving toward this path of tariffs because what we've seen so far is that the Mexicans, what they're ... (more...)
Krispy Kreme, Walmart, Dunkin' offer free doughnuts Friday on National Doughnut Day Krispy Kreme, Walmart, Dunkin' offer free doughnuts Friday on National Doughnut Day
- June 08, 2019

No purchase necessary. Lamar's is collecting donations for the Salvation Army . Pictured: Croissant Doughnuts at Dunkin Donuts on November 3, 2014 in New York City. He then climbed down from the counter, danced his way to the doughnut rack and grabbed a pastry - recording himself taking a huge bite - while an employee watched in disbelief. (more...)
Google says cutting us off from Huawei is a security risk Google says cutting us off from Huawei is a security risk
- June 08, 2019

As I explained before, Huawei needs Android (and Windows) like fish need water for a different reason. Google was one of several American companies that had to cut ties with Huawei to comply with the USA government ban , and the company is now petitioning lawmakers in Washington to exempt it from the ban. (more...)
BMW and Jaguar Land Rover to jointly develop electric vehicle components BMW and Jaguar Land Rover to jointly develop electric vehicle components
- June 07, 2019

BMW said the firms "share the same strategic vision of environmentally-friendly and future-oriented electric drive technologies". The huge financial effort needed to develop electric and autonomous cars is pushing vehicle manufacturers to work together as much as possible - such was the justification given by Fiat-Chrysler and Renault for their own recent announcement to team up, although as of today it appears that deal has fallen through . (more...)
RBI cuts key rate by 25 bps, changes neutral stance to accommodative RBI cuts key rate by 25 bps, changes neutral stance to accommodative
- June 07, 2019

Besides, the RBI changed the monetary policy stance from neutral to accommodative. The move is expected to lead to reduction of lending rate by banks leading to lower EMI for housing, auto loan and corporate borrowers. The inflation outlook for the back half of the fiscal year in March was put at 3.4-3.7%, down from an earlier projection of 3.5-3.8%. Last week, government data showed GDP growth slowed to a five-year low of 5.8 per cent in the fourth quarter (Q4) of FY19. (more...)
Ohio's economy could suffer if tariffs are imposed on Mexico Ohio's economy could suffer if tariffs are imposed on Mexico
- June 06, 2019

As more and more Republican senators speak out against the President's proposed tariff on Mexico , which he thinks will force the country to stop illegal immigration into the U.S., President Trump tweeted a quote in support of the measure from the top House Republican. (more...)
Oil prices edge higher as Saudi reassurances stem decline Oil prices edge higher as Saudi reassurances stem decline
- June 06, 2019

WTI ended $1.80, or 3.4%, lower at $51.68 a barrel. Brent for August settlement dropped 20 cents to $61.08 a barrel on London's ICE Futures Europe exchange. Saudi Arabia, the de-facto leader of the Organisation of the Petroleum Exporting Countries ( OPEC ), indicated that the group of oil producers together with Russian Federation would continue managing global crude supplies to avoid a surplus. (more...)
U.S. defends welcome to students as China warns of risk U.S. defends welcome to students as China warns of risk
- June 05, 2019

In a separate warning, China's foreign ministry said U.S. law enforcement agencies have "repeatedly" used methods such as immigration and on-site interviews to " harass " Chinese citizens in the US. Commenting on the warning issued to students, foreign ministry spokesman Geng Shuang said the USA side had to be aware of the obstacles and impact they have created. (more...)
Huawei to dispose its undersea cable business
- June 05, 2019

Liang accused the USA of inappropriate conduct, while at the same time striking a conciliatory tone - a response reflecting a level of exasperation now felt by the Chinese tech giant. Suzanne Spaulding, who led DHS cybersecurity efforts during the Obama administration, faulted the Trump administration for not demonstrating "what specifically Huawei and China could do to overcome our security concerns". (more...)
Lower Emerging Market Demand Weighing on Prices Lower Emerging Market Demand Weighing on Prices
- June 02, 2019

Oil prices slumped to a three-month low Friday as concerns about President Trump's trade policy and the slowdown in the Chinese economy cast doubt on the outlook for global demand. OPEC and other major oil producers, including Russian Federation, pledged in December to cut production by 1.2 million barrels per day in order to prop up prices, effective from this January. (more...)
MacKenzie Bezos Pledges To Donate Half Of Her $36 Billion Fortune MacKenzie Bezos Pledges To Donate Half Of Her $36 Billion Fortune
- May 29, 2019

Fulfilling the requirements of the pledge can be tricky in a world where the wealthiest are accruing more riches than ever. "In addition to whatever assets life has nurtured in me, I have a disproportionate amount of money to share", she said in a statement . (more...)