Economy


What's open and closed on Christmas Eve, Christmas Day and Boxing Day What's open and closed on Christmas Eve, Christmas Day and Boxing Day
- December 26, 2018

But that doesn't mean that all businesses and stores are closed today. Snacks including pigs in blankets or Christmas pudding are also available throughout the day while you settle down to watch your favourite Christmas films. If there are a few supplies that you still need to get before tomorrow then it is worth planning your journey to make sure that your local store is open when you plan to go there. (more...)
Stocks set fall after Steven Mnuchin’s odd statement fails to calm markets Stocks set fall after Steven Mnuchin’s odd statement fails to calm markets
- December 26, 2018

Asian stocks were mixed on Monday after Mnuchin's calls to the bankers, but analysts expressed both surprise and alarm at the Secretary's Sunday statement, saying it might do the opposite of calming current jitters. Mnuchin said on Sunday that he conducted a series of calls with CEOs of the country's six largest banks, namely Brian Moynihan, Bank of America; Michael Corbat, Citi; David Solomon, Goldman Sachs; Jamie Dimon, JP Morgan Chase; James Gorman, Morgan Stanley and Tim Sloan, Wells ... (more...)
Some windstorm outages could take days to fix, BC Hydro warns Some windstorm outages could take days to fix, BC Hydro warns
- December 25, 2018

Environment Canada said gusts hit 128 km/h across Metro Vancouver, Vancouver Island and the Fraser Valley on Thursday. Vancouver was in clean-up mode Friday morning after Thursday's wind storm that battered the Lower Mainland, Vancouver Island and the Fraser Valley downing trees and powerlines across the region. (more...)
Amazon sent over 1,000 private Alexa recordings to random person Amazon sent over 1,000 private Alexa recordings to random person
- December 23, 2018

Amazon sent him a download link to tracked searches on the website - and 1,700 audio recordings by Alexa that were generated by another person. And Thanks to Amazon's Echo range of smart speakers and other third-party devices, it's presence in our homes is growing by the minute. (more...)
Prosecutors re-arrest Carlos Ghosn on new allegations Prosecutors re-arrest Carlos Ghosn on new allegations
- December 23, 2018

Mr Ghosn, 64, and Greg Kelly , an American lawyer and former Nissan executive, have been charged with conspiring to hide from regulators ¥5 billion (£35 million) of pay agreed for the Nissan chairman between 2010 and... Just hours before his new arrest, he had vowed to restore his good name in court and hold a press conference once he was released. The 10-day detention period for the second crime ran out on Thursday. (more...)
Fed Raises Benchmark Rate from 2.25% to 2.5% Fed Raises Benchmark Rate from 2.25% to 2.5%
- December 22, 2018

In doing so the Fed seems to have ignored weeks of market volatility and calls by President Donald Trump to stop raising interest rates by the USA central bank. This will allow him to explain any abrupt policy changes. Treasury Secretary Steven Mnuchin said Thursday that financial markets are overreacting too the Fed's rate hike this week. (more...)
Canada says third national detained in China Canada says third national detained in China
- December 21, 2018

O'Toole said a fellow Conservative lawmaker relayed the information to Canada's foreign minister. China, however, has said that Canada and the United States overstepped their authority and that Meng, who was arrested while changing planes in Vancouver , broke no laws. (more...)
US Stocks Dive Again, Worst December Since Great Depression Projected US Stocks Dive Again, Worst December Since Great Depression Projected
- December 21, 2018

The blue-chip barometer is notching its worst month in more than three years. The S&P 500 index fell 8 points, or 0.3 percent, to 2,591. The Nasdaq composite index was up 16.16 points to 6800.07. Oil prices dropped $3.66 to $46.22 USA a barrel. Trump administration economic adviser Peter Navarro said on CNBC Monday morning that the Fed is the source of volatility and the stock slide. (more...)
Vladimir Putin's chilling warning on nuclear threat Vladimir Putin's chilling warning on nuclear threat
- December 21, 2018

Russian President Vladimir Putin is warning about the rising threat of a nuclear war. Putin also pointed out the Japanese government is building an alternative base for the US air station Futenma, now located in central Okinawa, in the Henoko district of Nago, further north, despite strong opposition from local residents and Okinawa Gov. (more...)
Investigation reveals Facebook gave Netflix and Spotify access to user's private messages Investigation reveals Facebook gave Netflix and Spotify access to user's private messages
- December 20, 2018

Facebook also allowed Microsoft's Bing search engine, to collect the names of "virtually all Facebook users' friends" without their consent. The deals were made over the years, dating back to as early as 2010. The report marked yet another potential embarrassment for Facebook, which has been roiled by a series of scandals on data protection and privacy and has been scrutinised over the hijacking of user data in the 2016 USA election campaign. (more...)
Inventor Engineers Brilliant Package That Hilariously Targets Thieves Inventor Engineers Brilliant Package That Hilariously Targets Thieves
- December 19, 2018

Rober, a self-described former NASA engineer , said the prank was a tribute to his "childhood hero", Kevin McCallister , the irrepressible young hero, played by actor Macaulay Culkin, in John Hughes' 1990 comedy that was filmed in Winnetka. (more...)
Trump advises Fed not to consider interest rate hike Trump advises Fed not to consider interest rate hike
- December 19, 2018

In fact, Fed Chairman Jerome Powell in recent statements has indicated the central bank is considering suspending its rate increases while it takes time to view more economic data. "True central bank independence is the freedom to do the right thing independent of the whims of the executive", Low said. Zero interest rates were introduced during the recession. (more...)
China Confirms Detention of Second Canadian China Confirms Detention of Second Canadian
- December 15, 2018

Hu Xijin, editor of the state-backed Global Times , a nationalistic tabloid, said on the Weibo social media platform the Chinese government would never concede that the Canadians' detentions were related to Meng's case. Canadian foreign ministry spokesman Guillaume Bérubé confirmed that Mr Spavor had contacted it earlier in the week because "he was being asked questions by Chinese authorities". (more...)
RBI governor Shaktikanta Das vows to uphold central bank's autonomy and values RBI governor Shaktikanta Das vows to uphold central bank's autonomy and values
- December 14, 2018

PCA banks are expected to further push for a relaxation at the meeting. "Subsequently at some stage, I will have an interaction with the private sector banks also to understand the issues relating to them", he added. He said that he would like to focus on the banking sector immediately. He said that as the new RBI chief he will try and uphold professionalism, core values, credibility and autonomy of this institution. (more...)
Apple to open small campus in San Diego with 1,000 jobs Apple to open small campus in San Diego with 1,000 jobs
- December 14, 2018

The company says it added 6,000 jobs to its USA workforce in 2018 and now employs 90,000 people across all 50 states. The 133-acre campus in Austin will be less than a mile from Apple's existing facilities and initially have 5,000 employees. (more...)
Trump promised China would buy more soybeans. American farmers are still waiting Trump promised China would buy more soybeans. American farmers are still waiting
- December 14, 2018

He is also facing pressure from financial markets, which have been roiled in recent weeks by concerns over the effects a worsening trade war between the world's two largest economies would have on global growth. The US president agreed to postpone for 90 days a January 1 increase in tariffs on Chinese goods while the two sides negotiated over increased Chinese purchases of American farm and energy commodities, an end to forced technology transfers and stronger protections for US intellectual ... (more...)
Google CEO has to tell Congressman who makes the iPhone Google CEO has to tell Congressman who makes the iPhone
- December 13, 2018

The Texas Republican also pressed Pichai on whether Google had ever punished any of its employees for manipulating search results . However, Chief Executive Sundar Pichai said that while the company was studying the idea, it had no plans to do so. (more...)
Kotex tampons recalled after reports of unraveling, pieces left in body Kotex tampons recalled after reports of unraveling, pieces left in body
- December 13, 2018

Kimberly-Clark has announced a voluntary recall of one of their tampon brands due to a defect across the United States and Canada. Some users have needed to seek medical attention after pieces remained in the body. The Wisconsin-based company said it received reports of tampons "unravelling and/or coming apart upon removal". Consumers experiencing vaginal injury or symptoms like hot flashes, nausea or vomiting after using the product should seek medical attention immediately. (more...)
Canadian court grants bail to Huawei CFO Meng Wanzhou Canadian court grants bail to Huawei CFO Meng Wanzhou
- December 13, 2018

This TV image provided by CTV to AFP shows Huawei Technologies Chief Financial Officer Meng Wanzhou as she exits the court registry following the bail hearing at British Columbia Superior Courts in Vancouver, British Columbia, Dec. Meng was arrested in Vancouver during a flight transfer while traveling from Hong Kong to Mexico. Martin said, arguing the evidence against her was not overwhelming. (more...)
May heads to Netherlands, Germany in bid to save Brexit deal May heads to Netherlands, Germany in bid to save Brexit deal
- December 13, 2018

May needs to win a simple majority of votes from her party's parliamentarians to keep her job. Britain's ruling Conservatives have been divided for years over the European Union question, with younger MPs being largely in favour of leaving it, while older ones tended to be more supportive of it. (more...)
China summons USA ambassador over Huawei CFO's arrest China summons USA ambassador over Huawei CFO's arrest
- December 10, 2018

Fellow Chinese telecom company ZTE in 2017 faced an nearly $900 million fine for using US components in devices that it sold in Iran , breaking the USA embargo on telecom equipment exports to Iran. Banks in the U.S. cleared money for Huawei, but unbeknownst to these financial firms, they were conducting business with Skycom in contravention of the sanctions, the lawyer said. (more...)
Elon Musk suggests Tesla's new chairwoman won't rein him in Elon Musk suggests Tesla's new chairwoman won't rein him in
- December 10, 2018

The EV maker has gone from strength to strength despite criticism from naysayers, predictions that the company would go bankrupt and a settlement with the SEC after comments about taking Tesla private caused stocks to plummet. Musk said he would not be interested. "But they just did not count on this unconventional situation of creating an assembly line in a parking lot in a tent!" "Well, I mean punctuality's not my strong suit". (more...)
Police arrest protesters in Paris, turn others away Police arrest protesters in Paris, turn others away
- December 09, 2018

Saturday's yellow vest crowd was overwhelmingly male, a mix of those bringing their financial grievances to Paris - the centre of France's government, economy and culture - along with groups of experienced vandals who tore steadily through some of the city's wealthiest neighbourhoods, smashing and burning. (more...)
China vows quick action on USA trade promises: 'The sooner the better' China vows quick action on USA trade promises: 'The sooner the better'
- December 08, 2018

At the sidelines of last weekend's G20 summit , Mr Trump and Mr Jinping agreed not to increase tariffs for 90 days to allow negotiations to take place. U.S. President Donald Trump , who rattled global markets Tuesday after declaring himself "a Tariff Man", predicted in a series of tweets Wednesday the United States and China would negotiate a new trade deal. (more...)
China says it will carry out tariff cease-fire with US China says it will carry out tariff cease-fire with US
- December 07, 2018

The global economy was already showing signs of a slowdown when President Donald Trump reminded the world of his love of tariffs and sent a chill through financial markets. However he offered no new details on what China had agreed to with the United States. Do you have any assessment of the meeting this time? -China agreement in Buenos Aires as an historic breakthrough that would ease trade tensions and potentially reduce tariffs. (more...)
Trump NAFTA termination vow pressures Congress to bless new deal Trump NAFTA termination vow pressures Congress to bless new deal
- December 05, 2018

Trump's goal in announcing the end of NAFTA is to put pressure on Congress to accept the new agreement with Mexico and Canada. Marco Rubio says the deal - called USMCA by the USA and CUSMA by Canada - gives agricultural producers in Mexico an unfair advantage that could put seasonal growers in his state out of business. (more...)
Trump says China is now open to Qualcomm-NXP deal Trump says China is now open to Qualcomm-NXP deal
- December 05, 2018

However following talks between US President Donald Trump and Chinese President Xi Jinping at the G20 Summit in Argentina, Washington said the Chinese government was willing to grant the necessary approvals. The deal previously fell apart as it failed to secure Chinese regulatory approval. Qualcomm spent Dollars 22.6 billion on share buybacks in the 12-months ended September, using up the cash reserves it had set aside for the acquisition and ending any possibility of a renewed bid. (more...)
Trump says China had agreed to reduce tariffs on USA cars Trump says China had agreed to reduce tariffs on USA cars
- December 03, 2018

The two heads of state had an in-depth exchange of views on China-U.S. relations and worldwide issues of common concern in a friendly and candid atmosphere at a working dinner after the conclusion of the 13th summit of the Group of 20 in Argentina. (more...)
The fall in oil prices was a record for 10 years The fall in oil prices was a record for 10 years
- December 03, 2018

Putin earlier greeted other leaders in the same way, Peskov said, declining to give further details. On Wednesday, oil prices dipped as the U.S. Energy Information Administration (EIA) recorded a continuous rise in U.S. Russian President Vladimir Putin said Saturday he and Crown Prince Mohammed bin Salman "have agreed to extend our agreement" to limit production as prices slump on global markets. (more...)
Fed emphasises flexible policy path after likely December hike Fed emphasises flexible policy path after likely December hike
- December 01, 2018

The change comes months after Powell indicated plans to raise interest rates and cool down the United States economy, moves that run counter to President Donald Trump's expansionary moves, including last year's tax cuts. "What do you do?" said Powell in NY. That "just below" phrasing seemed to indicate that the Fed is almost done raising rates for the time being. (more...)
Trump retweets suggestion that General Motors should pay back bailout money Trump retweets suggestion that General Motors should pay back bailout money
- December 01, 2018

The Twitter account of Treasury Secretary Steven Mnuchin amplified a message from an anonymous account called "The_Trump_Train" on Wednesday that demanded GM "pay back the $11.2 billion bailout that was funded by the American taxpayer". Trump has said in the past that those threats were meant as a way to extract concessions from other countries on unrelated trade matters. Trump believes that foreign countries dump low-priced items in the U.S. (more...)
Putin: Success in Oil Production Cuts Due to Saudi Arabia Putin: Success in Oil Production Cuts Due to Saudi Arabia
- December 01, 2018

While Saudi Arabia and its Energy Minister Khalid al-Falih have been airing the idea of a new production cut, Russian Federation has been less convinced that it could take part in another reduction, or at least so it lets the market to believe. (more...)
Trump talks tough to China before G20 meeting Trump talks tough to China before G20 meeting
- November 30, 2018

Trump did add, later in the interview , "Here's the bottom line: We're going to make a great deal with China ". The self-described "nationalist" president's latest foray into global diplomacy will feature a double main event: A dinner with Chinese President Xi Jinping during which the conversational entree will be a nasty trade dispute, and a second one-on-one meeting with Russian President Vladimir Putin that will capture the attention of the world following a July summit that ... (more...)
Trump ramps up GM threats Trump ramps up GM threats
- November 28, 2018

What is driving this change, and why is General Motors taking these steps? Some 75 per cent of its global sales will come from just five vehicle architectures by the early 2020s, which means GM can reduce the people and capital required to keep its product portfolio updated. (more...)
Stores fighting for Black Friday sales aim for convenience Stores fighting for Black Friday sales aim for convenience
- November 24, 2018

Well, there will absolutely be some great Black Friday deals all week long, especially on TVs, tech, kitchen appliances, and clothing. Then again, some shoppers simply love the chaos and excitement of Black Friday - crowds, confusing pricing, and all. (more...)
EU, UK agree to 'ambitious' post-Brexit ties EU, UK agree to 'ambitious' post-Brexit ties
- November 22, 2018

Gibraltar's Chief Minister Fabian Picardo on Monday issued a statement regretting the Spanish position. Angela Merkel has threatened to pull out of a Brussels summit to approve a Brexit deal unless an agreement is ready in time for the meeting. (more...)
Amazon exposes names, emails in 'technical error' Amazon exposes names, emails in 'technical error'
- November 22, 2018

It's unclear at this time how many Amazon users were affected by the issue, which exposed only emails and names to third parties. The ICO acknowledged our phone call seeking comment but has yet to get back to us. Amazon did not say how many accounts were affected or when the incident took place. Amazon thinks it's already said more than enough, thank you very much. (more...)
Local grocery stores stop selling romaine lettuce Local grocery stores stop selling romaine lettuce
- November 22, 2018

In the latest announcement, CDC on November 20 advised that consumers should not eat any romaine lettuce because no common grower, supplier, distributor, or brand of romaine lettuce has been identified. One person in California has died from E. coli linked to romaine lettuce . The romaine lettuce linked to the E. coli outbreak earlier this year was from Yuma, Arizona. (more...)
'Bitcoin's no long boring', price could fall as low as $1500 'Bitcoin's no long boring', price could fall as low as $1500
- November 21, 2018

Since last week the market has shed 23% from total capitalisation - a staggering $50 billion (£39bn) - to around $163bn (£126bn). The latest move lower started this month after a period of relative stability, with prices of bitcoin having hovered at about the US$6,500 mark for several months. (more...)
Brexit: two-year transition period could be extended Brexit: two-year transition period could be extended
- November 20, 2018

One pro-Brexit Conservative lawmaker, Simon Clarke, urged wavering colleagues Monday to join the rebellion, saying "it is quite clear to me that the captain is driving the ship at the rocks". Bluemel said: "Of course I hope that all stand by what has been negotiated". "There are plenty of Conservative MPs who would not countenance us leaving without a deal and I think if it's necessary, we will work together to stop no deal happening", shadow Brexit secretary Sir Keir Starmer said. (more...)