Economy


Frankfurt Motor Show: Volkswagen I.D 3 Makes Its Global Debut Frankfurt Motor Show: Volkswagen I.D 3 Makes Its Global Debut
- September 11, 2019

It's by no means a secret. In brief: At the Frankfurt Motor Show , Volkswagen showed off the first ever production version of its ID. -based concept cars: The ID.3 hatchback. Maximum charging rate is 100kW, meaning that 290km range can be added to the battery within 30 minutes. Three drivetrain variants (dependent on the battery size) will be offered at the outset; the basic variant features a 45 kWh battery pack which enables a driving range of up to 330 km (as per WLTP), while two ... (more...)
Saudi Arabia seeks to enrich uranium for nuclear power, minister says Saudi Arabia seeks to enrich uranium for nuclear power, minister says
- September 11, 2019

Russian Energy Minister Alexander Novak plans to meet Saudi Arabia's new energy minister Prince Abdulaziz bin Salman on Tuesday in Jeddah, a spokesman for the energy ministry said on Tuesday. "Worryingly, the government's attention appears to have shifted away from the deep structural reforms to the business environment and the labour market that are needed to overhaul the Saudi economy and reduce its reliance on oil", Turvey concluded. (more...)
Hurricane Dorian impacting travelers nationwide, including in San Diego Hurricane Dorian impacting travelers nationwide, including in San Diego
- September 04, 2019

Scientists say climate change generally has been fueling more powerful and wetter storms, and the only recorded hurricane more powerful than Dorian was Allen in 1980, with 190 miles per hour (305 kph) winds, though it did not hit land at that strength. (more...)
Brexit: No-deal opponents argue for Commons control Brexit: No-deal opponents argue for Commons control
- September 04, 2019

However, under the Fixed Term Parliaments Act, he would need a two-third majority in the House to force a poll. "Many colleagues have been incensed by some of the actions over the last week or so", he said. However, they have just days to do so. They return from their summer holiday on Tuesday, and Johnson has controversially made a decision to suspend parliament next week for more than a month. (more...)
Walmart to stop selling certain gun ammunition Walmart to stop selling certain gun ammunition
- September 04, 2019

The largest US arms retailer, which has been under pressure to change its policies on gun sales, also said it would discontinue handgun sales in Alaska , the only state where it still sells these guns. And hours after the shooting in El Paso, our country experienced another mass shooting in Dayton, Ohio . There are 49 Walmart stores in MA, including 27 Supercenters. (more...)
Wall Street stalls as China tariffs loom Wall Street stalls as China tariffs loom
- September 03, 2019

The Dow Jones Industrial Average climbed 326.15 points, or 1.3%, to 26,362.25. The S&P 500 edged up 1.88 points, or 0.1%, to 2,926.46. The Nasdaq fell 10.51 points, or 0.1%, to 7,962.88. In an interview with Bloomberg, Treasury Secretary Steven Mnuchin said talks with China are ongoing and are expected to continue in Washington, though he did not specify when. (more...)
Evacuations in Bahamas as Hurricane Dorian nears Evacuations in Bahamas as Hurricane Dorian nears
- September 02, 2019

On its current path, forecasters say the storm could spare the USA a direct hit, but still threatens Florida , Georgia and the Carolinas with powerful winds and rising ocean water that could cause deadly flooding. Based on its central pressure, Hurricane Michael was the third strongest landfalling hurricane ever recorded in the United States. The National Hurricane Center noted the following: "Dorian is moving toward the west near 8 miles per hour (13 km/h), and a slower westward motion ... (more...)
Apple September 10 event Apple September 10 event
- September 02, 2019

Flagship devices from the likes of Google and Samsung have really upped the ante when it comes to mobile photography, so we can only assume that Apple's 2019 iPhone flagship - which may be called the iPhone 11 Pro Max - will take things to the next level. (more...)
Man Who Played Same Lottery Numbers for 20 Years Wins $60 Million Man Who Played Same Lottery Numbers for 20 Years Wins $60 Million
- September 01, 2019

He said he kept it a secret because he had a lot of thinking to do. The Alberta Gaming, Liquor and Cannabis first announced they'd found the long-awaited victor on Tuesday. So he signed his name and phone number on the ticket and put it in a safe. He knew that there would likely be some changes and he wanted everyone to be prepared. (more...)
Mega Public Sector Banks merger: 10 banks amalgamated into 4-entities Mega Public Sector Banks merger: 10 banks amalgamated into 4-entities
- August 31, 2019

Similarly, PNB, OBC, Utd Bank, Union Bank and Corporation Bank are on Finacle banking platform. This will form India's second-largest public sector bank , after the State Bank of India, with Rs 18 lakh crore business and the second-largest branch network. (more...)
India's economic growth rate hits 6-year low India's economic growth rate hits 6-year low
- August 31, 2019

The economies of India and China have grown rapidly over the past couple of decades, but a worrisome combination of development challenges and global trade tensions pose a threat to their economic outlook. He assured that the government was taking steps to improve the situation. Analysts say that weak consumer demand and private investments are reasons behind the slowdown in the economy. (more...)
Indian banking sector undergoes major mergers
- August 31, 2019

The government also announced the merger of Indian Bank with Allahabad Bank . The second largest banking conglomerate will now be a united Punjab National Bank, the Oriental Bank and the United Bank with a business of Rs 17.95 lakh crore. (more...)
King Blasts Trump For Diverting Disaster Funds For Border Wall King Blasts Trump For Diverting Disaster Funds For Border Wall
- August 31, 2019

DHS is now replacing 124 miles of fencing with new wall in the El Paso, El Centro and Tucson sectors. As one high-level source told the Post , "He said people expected him to build a wall, and it had to be done by the election ". There are a lot of impediments to getting a wall built along the U.S. -Mexico border, including environmental laws and the fact that on the U.S. side of the border a lot of land is privately owned. (more...)
Man suing Popeyes for running out of chicken sandwiches Man suing Popeyes for running out of chicken sandwiches
- August 31, 2019

Barr is hoping that his lawsuit will also stand against the "big corporate" and he is expected to appear in court in October. Next week some undercover PR flack will hold up a Popeyes at gunpoint and demand that he be provided with 50 chicken sandwiches immediately or he'll start executing one hostage every hour on the hour. (more...)
Binance Research Lifts Veil on China's Digital Currency Binance Research Lifts Veil on China's Digital Currency
- August 30, 2019

A tentative date is predicted for 11 November, which is the Singles Day in China- the heavy shopping day in the country. As soon as the world's fastest-growing economy announced the launch of its state-backed cryptocurrency , widespread speculations arose on who's who getting their hands on the first lot. (more...)
Technology, health care companies lead USA stocks higher Technology, health care companies lead USA stocks higher
- August 30, 2019

Benchmark 10-year notes last rose 21/32 in price to yield 1.4744 percent, from 1.544 percent late on Monday. But they soon turned lower as the inversion between long-term and short-term bond yields became more worrisome. "That happened after the financial crisis, when the companies of the S&P 500 cut dividends by an aggregate of 25%". "The price action reflects a variety of market participants' fears that their business model will be highly strained if rates fall to very low levels for an ... (more...)
Donald Trump says China is seeking talks to end trade conflict Donald Trump says China is seeking talks to end trade conflict
- August 27, 2019

Iran's foreign minister paid a visit to a G7 summit in France on Sunday, an unexpected twist to a meeting already troubled by differences between U.S. 'I would certainly invite him, ' Trump told reporters, but conceded that the Russian leader might not want to attend. Leaping into the fray, European Council President Donald Tusk, who takes part in the G7 discussions, warned the EU would respond "in kind" if Trump acted on his threat. (more...)
Enraged Trump likens Federal Reserve chief to 'enemy' China Enraged Trump likens Federal Reserve chief to 'enemy' China
- August 25, 2019

My only question is, who is our greatest enemy, Jay Powell or President Xi? Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc . China's commerce ministry, earlier Friday, stated it will be imposing additional tariffs of 5% or 10% on a total of 5,078 products originating from the USA, including agricultural products, crude oil, small aircraft and cars. (more...)
China To Raise Import Tariffs On $75B Additional US Goods China To Raise Import Tariffs On $75B Additional US Goods
- August 24, 2019

The tech industry disagrees. Neither the Alliance of Automobile Manufacturers nor the Association of Global automakers, however, addressed President Donald Trump's tweet about finding markets other than China. Last month's meeting in Shanghai brought no results, and the date of next round of face-to-face talks has not been announced. In Europe, the biggest beneficiary is France , but overall countries on that continent will benefit the least out of the China-U.S. (more...)
Trump Says He Spoke With Apple CEO Over China Tariffs, Samsung Competition Trump Says He Spoke With Apple CEO Over China Tariffs, Samsung Competition
- August 20, 2019

US President Donald Trump is prepared to make the hard decisions in the country's trade spat with China. The 10% tariff on goods imported from China is one of Trump's bargaining chips in the trade war. "I have a lot of respect for Tim Cook ". President Donald Trump said Apple Inc. Trump pushed back on media reports this weekend that the Commerce Department is poised, as soon as Monday, to renew Huawei Technologies Co.'s temporary general license to buy supplies for the U.S. (more...)
Keep The Yield Curve Inversion In Perspective Keep The Yield Curve Inversion In Perspective
- August 19, 2019

The 30-year Treasury yield fell as much as six basis points to 1.9623 per cent in Asia trading on Thursday, after sliding 15 basis points the day before. It was the worst day for the major indexes since December 2018. China on Wednesday posted its worst growth for industrial production in 17 years. (more...)
FDA reveals proposed graphic warnings for cigarette packs and ads FDA reveals proposed graphic warnings for cigarette packs and ads
- August 18, 2019

WARNING: Smoking can cause heart disease and strokes by clogging arteries. These include various cancers, degenerative lung disease, vision problems, and type 2 diabetes. Earlier this year and following a lawsuit filed by several public health groups, a judge in the U.S. District Court for the District of MA issued an order directing the FDA to finalize the warnings by March of next year. (more...)
The 'inverted yield curve' set off recession fears - what is it? The 'inverted yield curve' set off recession fears - what is it?
- August 18, 2019

But it remains above shorter-term yields, which means not all of the yield curve is inverted and offers a bit of solace. In afternoon trading, US benchmark 10-year Treasury note yields US10YT=RR were last down at 1.597%, from 1.68% late on Tuesday. (more...)
China vows to retaliate against new USA tariffs China vows to retaliate against new USA tariffs
- August 17, 2019

China spent 12 years, longer than any other government, negotiating its 2001 entry into the World Trade Organization. Many have questioned his tactics in levying tariffs off and on over the past year. "Economic data have softened and are increasingly sending recession signals, particularly from the industrial side", Michelle Meyer, head of US economics at Bank of America Merrill Lynch told The New York Times "Trade is a huge part of it", she added. (more...)
Hong Kong braces for more protests as world leaders urge calm Hong Kong braces for more protests as world leaders urge calm
- August 17, 2019

The Chinese government has repeatedly referred to the demonstrations as "near terrorism" and described the protests as rioting, with legal experts saying Beijing might use anti-terror laws to quell the demonstrations. Claudia Rosett, a former WSJ reporter in Hong Kong , discusses the massive protests in Hong Kong . "I think foreign parties have encouraged the unrest and escalated it", he said . (more...)
Here’s What the ‘CRAZY INVERTED YIELD CURVE’ Means for You Here’s What the ‘CRAZY INVERTED YIELD CURVE’ Means for You
- August 17, 2019

Trump also continued his war of words with the Federal Reserve , accusing the central bank of being too slow to reduce interest rates, having previously increased rates " too much and too fast ". "Prices to us have not gone up, and in some cases, have come down", Trump said in a tweet. Consumers are in the best shape ever, plenty of cash. "We're outside of the earnings season and markets are being batted around by news". (more...)
Police in Hong Kong fire tear gas as street protests continue Police in Hong Kong fire tear gas as street protests continue
- August 13, 2019

Protesters also faced off against police in the Kwai Fong train station, with the demonstrators using fire extinguishers and a water hose against riot officers who fired tear gas into the terminal. "Some violent protesters even hurled petrol bombs, injuring a police officer". Young people have been at the forefront, anxious about the erosion of freedoms in Hong Kong, while also concerned with issues such as wealth disparities in the city. (more...)
PBOC's Digital Currency PBOC's Digital Currency "Ready" After 5 Years - capitalwatch.com - via
- August 13, 2019

Since 2016, China's monetary policy has actually been to prop up the yuan's value. U.S. President Donald Trump said on Friday that he was not ready to make a trade deal with China and had decided that the United States would not do business with Chinese telecoms giant Huawei Technologies for the time being, prompting U.S. (more...)
Reliance Jio Announces Rs 500 International Landline Roaming Pack to JioFiber Users Reliance Jio Announces Rs 500 International Landline Roaming Pack to JioFiber Users
- August 13, 2019

While it first showed interest in investing in RIL around the end of past year, talks gathered momentum following the visit of Saudi crown prince Mohammed bin Salman to India in February, during which he met Ambani . It will also come up with a free LED TV and Jio HD / 4K Set Box as a part of Jio Giga Fiber Welcome Offer. Jio Fiber plans to reach 20 million residences and 15 million business establishments in these 1600 towns. (more...)
Oil Price Fundamental Weekly Forecast - It's Demand Worries Versus OPEC Production Cuts Oil Price Fundamental Weekly Forecast - It's Demand Worries Versus OPEC Production Cuts
- August 12, 2019

The U.S. surge has tapered off in recent months as shale drillers confront the geological challenges arising from rapid expansion, as well as pressure from shareholders seeking a better return on their investments. "This could lead to reduced trade activity and less oil demand growth". Brent has plunged almost 14% since last week as global equity markets went into a tailspin after U.S. (more...)
NYSE trader on fluctuating markets: 'Uncertainty is what we have' NYSE trader on fluctuating markets: 'Uncertainty is what we have'
- August 12, 2019

This news will bring a smile on the faces of investors in the U.S. market but still nothing is stable so far. A weaker yuan makes Chinese exports more competitive, or cheaper to buy with foreign currencies. A wider yield gap could mean less capital outflow pressure from China and is supportive for the Chinese currency. The Reserve Bank of India and the Bank of Thailand also cut rates. (more...)
Trump demands further rate cut as economy 'handcuffed' by Fed Trump demands further rate cut as economy 'handcuffed' by Fed
- August 11, 2019

China's willingness to hold out for a deal was shown in their aggression with counteracting Trump's latest tariffs. Together the four chairs served 40 years at the position of Fed chair and were appointed and reappointed by both Democratic and Republican presidents. (more...)
Canadian economy unexpectedly sheds 24200 jobs in July Canadian economy unexpectedly sheds 24200 jobs in July
- August 11, 2019

From last July to the present, wages have risen by 4.5 percent. "Job growth so far this year has been wonderful, and the unemployment rate remains at near record lows". The agency cautions, however, that the recent monthly readings have been small enough that they're within the margin of error and, therefore, statistically insignificant. (more...)
China's exports unexpectedly rise in July China's exports unexpectedly rise in July
- August 10, 2019

China has released trade figures that show a surprise 3.3% rise in exports in July, despite the escalating trade war with the US. "In pulling the yuan higher, it is not only looking to manage any decline, but also looking to contain any damage in terms of confidence in their stewardship of the Chinese currency and economy", said Michael Hewson, chief market analyst at CMC Markets. (more...)
Yen rises on renewed jitters about U.S.-China after Huawei report Yen rises on renewed jitters about U.S.-China after Huawei report
- August 10, 2019

Last month, the International Monetary Fund confirmed that the exchange rate of the renminbi had become more flexible and registered real appreciation over the past decade. The move, which could hurt the U.S. tech sector, comes after China halted purchases of American crops. The new rules are part of a sweeping effort by President Donald Trump's administration to restrict Huawei , which officials claim is linked to Chinese intelligence. (more...)
United States oil imports up, exports down last week United States oil imports up, exports down last week
- August 09, 2019

Oil prices fell despite U.S. President Donald Trump signing an executive order, declaring a total economic embargo against Venezuela, prohibiting transactions with the country, unless specifically exempted. Going forward and Looking at the EIA's global oil supply assumptions between July and December 2019, we notice that non-OPEC supply is expected to grow from 65.5M in July to 67M barrels in December, or 1.5M barrels growth. (more...)
Trump says the problem isn't China, it's the Fed Trump says the problem isn't China, it's the Fed
- August 08, 2019

The Fed slashed its interest rate last week for the first time in more than a decade, and Trump wants that trend to continue so the USA economy will be supercharged by cheap access to money. "We believe every bank in the country and their customers will benefit from a seamless and ubiquitous system", American Bankers Association CEO Rob Nichols said in the statement. (more...)
Despite deadly shootings, Walmart won't stop gun sales Despite deadly shootings, Walmart won't stop gun sales
- August 07, 2019

At least 20 people were killed while 24 others suffered injuries on Saturday after a man opened fire at its stores in Texas on Saturday, days after a displeased employee killed shot dead two colleagues and a police officer in its store in Mississippi. (more...)
US futures rebound after Wall Street's worst day of 2019 US futures rebound after Wall Street's worst day of 2019
- August 07, 2019

The Chines bank then blamed the fall in its currency fall on Trump, issuing a statement saying the "unilateralism and trade protectionism measures and the imposition of increased tariffs on China", as reported by The New York Times . The escalations within the trade war between the world's largest economies are rattling traders already unnerved a couple of slowing world economic system, falling USA company income and probably too-weak inflation. (more...)
Trump calls weaker yuan a 'major violation' Trump calls weaker yuan a 'major violation'
- August 06, 2019

The US started it and escalated things with their latest announcement of imposing further tariffs on Chinese imports and the Chinese retaliated by the banning of state imports of US agricultural products. That hurts USA manufacturers, which have already been hit by the slowing global economy. Today China fired back by devaluing their currency to more than 7 yuan to the dollar. (more...)