Economy


(NYSE:XOM) Shares Purchased by Commonwealth Equity Services LLC (NYSE:XOM) Shares Purchased by Commonwealth Equity Services LLC
- August 04, 2019

The Irving, Texas-based company said it had profit of 73 cents per share. Independent Investors Inc. boosted its holdings in shares of Exxon Mobil by 0.7% in the 4th quarter. In other news, VP Bryan W. Milton sold 6,033 shares of the firm's stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $76.34, for a total value of $460,559.22. (more...)
WhatsApp and Instagram to get deeper Facebook branding WhatsApp and Instagram to get deeper Facebook branding
- August 04, 2019

It can be argued that being separated from the social network app has done a lot of good to Instagram and WhatsApp , the former now one of the most used social media apps and the latter the largest instant messaging app. According to reliable sources, since 2003, Facebook has managed to buy almost 90 companies which include trending applications like Instagram and messaging service WhatsApp . (more...)
Workers protest dilution of labour laws, Trump imposes fresh tariffs and more Workers protest dilution of labour laws, Trump imposes fresh tariffs and more
- August 03, 2019

Now playing: Watch this: AutoComplete: Chinese tariffs on USA vehicles going away, . Stock markets across Europe fell after the surprise decision by US President Donald Trump to impose new tariffs on a further $300bn of Chinese imports. (more...)
Trump announces China tariffs on another $300B worth of goods Trump announces China tariffs on another $300B worth of goods
- August 02, 2019

This does not include the 250 Billion Dollars already Tariffed at 25 %. The new tariffs, which are set to take effect September 1, represent another ratcheting up in trade tensions between the countries and sent stocks falling sharply. "Well, I think the biggest problem to a trade deal is China would love to wait and just hope - they hope it's not going to happen", Trump said. Similar drops were seen in the Nasdaq Composite and S&P 500, dampening enthusiastic spurred by the first cut to ... (more...)
South Korea drills still on despite Pyongyang warnings
- August 02, 2019

Pyongyang has also expressed anger over planned U.S. South Korea's military had no immediate comment over the North Korean report. The U.N. Security Council is expected to discuss the latest launches behind closed doors Thursday at the request of the United Kingdom, France and Germany, council diplomats said. (more...)
Burger King’s Impossible Whopper Expanding Nationwide After Successful Test Run Burger King’s Impossible Whopper Expanding Nationwide After Successful Test Run
- August 02, 2019

The same day, customers using DoorDash and the Burger King app can order the "Impossible Taste Test ", a $7 meal with both the original Whopper and an Impossible Whopper . Demand for plant-based meat alternatives has surged in the last two years as companies pitch the products to consumers conscious of meat's contribution to the global climate crisis. (more...)
Asian Equities Recoil at Trump's Confrontational Tone Around US-China Trade Imbalance Asian Equities Recoil at Trump's Confrontational Tone Around US-China Trade Imbalance
- August 01, 2019

Stocks tumbled soon after the Fed issued its statement at 2:00pm (US eastern time). In a much anticipated, live-streamed announcement today, Fed chair Jerome Powell said it is cutting the interest rate by 25 basis points, or 0.25%. The goal of the expected cut - the first in more than a decade - is to make borrowing less costly for consumers and businesses, encouraging spending and bolstering the economy. (more...)
Health chief says Trump working on plan to allow prescriptions from Canada Health chief says Trump working on plan to allow prescriptions from Canada
- August 01, 2019

The U.S. Department of Health and Human Services said it and the Food and Drug Administration will propose a rule that will allow it to authorize states and other groups to pursue pilot projects related to importing drugs from Canada. The 2003 Medicare Modernization Act allows states to import cheaper drugs from Canada, but only if the HHS secretary verifies their safety. "The agency is interested in considering any reasonable that maintains the bedrock of safety and efficacy for the ... (more...)
New UK PM Pursuing 'Dangerous' No-Deal Brexit Deal - Nicola Sturgeon New UK PM Pursuing 'Dangerous' No-Deal Brexit Deal - Nicola Sturgeon
- July 31, 2019

The 27 other European Union members, though, say publicly and privately that the divorce settlement - including the backstop - is not up for barter. They say millions of sheep might have to be slaughtered if tariffs are slapped on lamb exports to the EU. (more...)
Billionaire coffee tycoon VG Siddhartha goes missing in India Billionaire coffee tycoon VG Siddhartha goes missing in India
- July 31, 2019

Rescue teams and sniffer dogs are scanning the bridge over the Netravati river. He also wrote what seems to be an apparent suicide letter to the company board and to Coffee Day employees, saying that he had "failed to create the right profitable business model" and that he was giving up due to pressure from investors, borrowers and after having been troubled by issues with the tax department. (more...)
Boris Johnson greeted with loud boos and a frosty handshake in Scotland
- July 30, 2019

Alister Jack, who was appointed by Boris Johnson as part of a sweeping Cabinet reshuffle last week, admitted that he was little known outside of political circles but pledged to be a firm supporter of the Union. "But there is scope to do a new deal", Johnson said during a visit to a naval base in Scotland. I am looking forward to working with our partners in Northern Ireland - in particular, I hope very soon, a restored Executive - on how we make the most of this, building on the success ... (more...)
Just Eat in merger talks with Dutch company Takeaway.com Just Eat in merger talks with Dutch company Takeaway.com
- July 30, 2019

Just Eat works by providing a single website which can be used to order takeaway and deliveries from many different restaurants and fast food houses. Just Eat has confirmed it has reached "agreement in principle" with Dutch rival Takeaway.com over a £9bn combination that would create one of the world's largest online food delivery companies. (more...)
Mom: Toddler hurt in ride on Atlanta airport conveyor belt Mom: Toddler hurt in ride on Atlanta airport conveyor belt
- July 28, 2019

A 2-year-old boy was injured when he climbed onto a moving conveyor belt at the Hartsfield-Jackson Atlanta International Airport Monday, according to several reports. While the little ride must have seemed fun for the guy, he ended up with cuts on his arm and also a fractured hand. He suffered injuries to his right hand. (more...)
Facebook not anxious about $5 billion FTC fine Facebook not anxious about $5 billion FTC fine
- July 27, 2019

The Republican FTC majority said the settlement "significantly diminishes Mr. Zuckerberg's power - something no government agency, anywhere in the world, has thus far accomplished". "It utterly fails to penalise Facebook in any effective way". If members of this committee see room for improvement, they will report to the board. The social media giant also needs to operate with a new set of restrictions on its business. (more...)
FTC fines Facebook $5B, adds oversight for privacy mishaps FTC fines Facebook $5B, adds oversight for privacy mishaps
- July 27, 2019

Facebook has been promoting its new privacy-focused posture all year, most recently at its developer conference in April, when Zuckerberg discussed the development of new encryption technology to protect users' messages, photos and videos. (more...)
Tesla co-founder, CTO JB Straubel to step down Tesla co-founder, CTO JB Straubel to step down
- July 27, 2019

Revenue jumped to $US6.3 ($9) billion, from $US4.5 ($6) billion in the first three months of the year. The nasty surprise helped push Tesla shares down almost 14% to $228.82, their worst day since 2013. The ex-CTO confirmed his executive shuffle and said, "I'm not disappearing". Straubel is being replaced by one of his subordinates, Drew Baglino . As Tesla looks to expand the volume of its output, the company has struggled to get its manufacturing processes - many of which are handled by ... (more...)
IL gets share of $700M Equifax data breach settlement IL gets share of $700M Equifax data breach settlement
- July 23, 2019

While not the largest breach - attacks on Yahoo leaked data on as many as one billion accounts - the Equifax incident could be the most damaging because of the nature of data collected: bank and social security numbers and personal information of value to hackers and others. (more...)
PepsiCo buys out South Africa's Pioneer Foods PepsiCo buys out South Africa's Pioneer Foods
- July 21, 2019

A wholly-owned subsidiary of U.S. multinational food, snack and beverage corporation PepsiCo has given notice of its firm intention to make an offer to acquire the issued ordinary shares of South African packaged goods company Pioneer Foods, the two said on Friday. (more...)
Toys R Us makes a small comeback with 2 stores Toys R Us makes a small comeback with 2 stores
- July 21, 2019

Now Americans may not have to go another Christmas without its once beloved toy store. At less than a third of the size of previously standard Toys "R" Us store, the new locations might feel unfamiliar. The company says they plan to open additional stores within the USA over the course of 2020. Future store locations are planned to be about 10,000 square feet. (more...)
Oil prices regain little ground lost in previous session Oil prices regain little ground lost in previous session
- July 19, 2019

Brent crude futures were up 26 cents, or 0.4%, at $64.60. Data from the US Energy Information Administration showed a larger-than-expected drawdown in crude stockpiles last week. If confirmed, it would be the fifth consecutive weekly decline, the longest stretch since the beginning of 2018. "Nevertheless, oil production in the Gulf of Mexico returning to normal following Hurricane Barry will limit price gains", Kumar said. (more...)
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 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'
- 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...)