Finance


State elections prompt reduction in oil prices State elections prompt reduction in oil prices
- October 05, 2018

AAP government in New Delhi is also unlikely to cut the fuel prices. Additionally, the union minister was generous enough to urge the state governments to follow the Center's footsteps and cut down the rates of petrol and diesel. In. Jaitley said the move followed Brent crude oil touching four-year high of Dollars 86 a barrel Wednesday and interest rates in U.S. reaching seven-year high. (more...)
I told Saudi king he wouldn't last without USA support: Donald Trump I told Saudi king he wouldn't last without USA support: Donald Trump
- October 04, 2018

Brent crude oil was trading at $84.65 (£65.09) per barrel this afternoon, having dropped from a high of $85.33 earlier in the day and near the four-year high it reached on Monday. This is predicted to show that weekly crude inventories rose by 1,985,000 barrels after the previous week's 1,852,000 increase. Not good. We want them to stop raising prices. (more...)
Amazon 'Listens To Critics' With Huge Pay Increase For UK Workers Amazon 'Listens To Critics' With Huge Pay Increase For UK Workers
- October 03, 2018

The people who sort, pack, ship and deliver orders for Amazon shoppers are crucial to Bezos's desire to make Amazon the one-stop shop for every purchase people might desire. Sanders said he looks forward to working with Bezos on federal minimum wage legislation. Amazon, like other retailers, may also have concluded that it needs to raise wages to reduce turnover and attract better job applicants at the company's crucial network of package warehouses and for positions in Amazon's growing ... (more...)
Tesla ramps up production in Shanghai to offset Chinese import tariffs Tesla ramps up production in Shanghai to offset Chinese import tariffs
- October 03, 2018

The company delivered 83,500 vehicles during the third quarter, a strong performance that should calm investor fears about logistical problems and a looming cash crunch. Tesla's third-quarter production report was positive in some ways, but the details were a little hazy. Production was a bit below that number: Tesla said it built about 53,000 Model 3s. (more...)
Tesla is 'very close' to profitability, Musk says in staff email Tesla is 'very close' to profitability, Musk says in staff email
- October 02, 2018

Billionaire businessman Elon Musk has stepped down as the Chairman of Tesla following a tweet where he claimed he has the funding and investor support to buy the publicly-traded company. As part of the settlement, both the company and Musk have been fined US$ 20 million each. Amidst reports that Musk reportedly rejected a settlement from the government agency, Friday's trading ultimately ended at $264.77 per share. (more...)
United States and Canada agree free trade deal United States and Canada agree free trade deal
- October 02, 2018

The deal will preserve a trade dispute settlement mechanism that Canada fought hard to maintain to protect its lumber industry and other sectors from USA anti-dumping tariffs, Canadian sources said. Dairy farmers around Canada were not so convinced. That is more than the 2 million units now exported. He tweeted: "It is a great deal for all three countries, solves the many deficiencies and mistakes in NAFTA, greatly opens markets to our farmers and manufacturers, reduces trade barriers to ... (more...)
NAFTA negotiations: Canada and Trump administration at impasse NAFTA negotiations: Canada and Trump administration at impasse
- October 01, 2018

Several Democrats questioned whether the Trump administration has the legal authority to proceed with a Mexico-only deal when prior notifications under the "fast-track" trade negotiating authority law were for a trilateral deal including both Mexico and Canada. (more...)
Ripple Has Grown By More Than 100% In 4 Days Ripple Has Grown By More Than 100% In 4 Days
- September 30, 2018

In addition to that, there were also good tidings relating to content creators. The listing of XRP sees the digital asset become the fifth virtual currency to gain listing on Remitano after Bitcoin (BTC ), Ethereum (ETH ), Tether (USDT) and very recently Bitcoin Cash (BCH). (more...)
Trump interrupted by laughter while praising USA administration's
- September 27, 2018

U.S. crude inventories rose by 1.9 million barrels in the week to September 21, according to U.S. Energy Information Administration (EIA) data. Iranian Minister of Petroleum has welcomed OPECs decision effectively rebuffing President Donald Trump's calls for a hike in oil output, saying United States empty dream to zero Irans oil exports would not realize. (more...)
Brent crude falls to $82 per barrel Brent crude falls to $82 per barrel
- September 27, 2018

JPMorgan said U.S. sanctions on Iran could lead to a loss of 1.5 million barrels per day (bpd), while Mercuria warned that as much as 2 million bpd could be knocked out of the market. He said: "My information is that the markets are adequately supplied". " OPEC gave a clear answer to Trump , who criticized the group for pushing for higher prices - they obviously refused to submit", said Satoru Yoshida, a commodity analyst at Rakuten Securities Inc.in Tokyo. (more...)
Instagram's co-founders are leaving Facebook Instagram's co-founders are leaving Facebook
- September 26, 2018

The co-founders of Instagram are stepping away from the company in a move that's seen as the latest in a series of difficulties for parent company Facebook. One of the names being touted as the next boss of Instagram is Adam Mosseri . The two were inspired to create the Instagram app - originally launched just for iPhones in 2010 - by old Polaroid pictures. (more...)
ABC staff are rounding on ousted boss Michelle Guthrie ABC staff are rounding on ousted boss Michelle Guthrie
- September 25, 2018

I am considering my legal options ", she said. ABC managing director Michelle Guthrie has been sacked from the national broadcaster. David Anderson , a 30-year veteran of the ABC , will be acting managing director while a formal search process involving internal and external candidates begins. (more...)
Trump says OPEC 'monopoly' must get prices down Trump says OPEC 'monopoly' must get prices down
- September 24, 2018

Opec and its allies are scheduled to gather in Algeria on Sunday to discuss how to allocate higher supply to offset the shortage of Iranian supplies. Trump wrote on Twitter . Prices were supported by sanctions on Iranian supplies and pressured by the potential that Chinese demand could wane. Trump has been consistent in his demands and belief that oil prices are too high. (more...)
Porsche confirms it will no longer offer diesel engines Porsche confirms it will no longer offer diesel engines
- September 24, 2018

Recent court rulings in Germany stipulating that older diesel cars should be banned from certain areas have caused uncertainty among auto buyers. Volkswagen's (VOWG_p.DE) Porsche will stop offering diesel versions of its cars, the unit said on Sunday, sharpening its focus on hybrid and battery-powered vehicles instead. (more...)
Airplane passengers left bleeding from ears and nose after cabin pressure mistake Airplane passengers left bleeding from ears and nose after cabin pressure mistake
- September 21, 2018

Lalit Gupta , a senior official of India's aviation regulator, the Directorate General of Civil Aviation (DGCA), told the Hindustan Times newspaper that the crew had forgotten to select a switch to maintain cabin pressure, BBC News reports . (more...)
China raises tariffs on $60B of U.S. goods in technology fight
- September 19, 2018

Officials said they wanted to shield consumer goods from the taxes as much as possible. "The new tariffs are bad news for the retail sector", said Neil Saunders, managing director at GlobalData Retail, a consulting firm. Mr. Trump has also complained about America's gaping trade deficit $336 billion a year ago with China, its biggest trading partner. The administration earlier this month floated the idea of talks led by Mnuchin, with Liu He expected to lead the Beijing delegation. (more...)
Trump slaps additional 10% tariffs on $200bn in Chinese goods Trump slaps additional 10% tariffs on $200bn in Chinese goods
- September 19, 2018

US President Donald Trump was poised to ratchet up his trade dispute with China, with a major announcement promised later Monday that could see hundreds of billions in goods subjected to fresh import duties. "There will be great and fast economic retaliation against China if our farmers, ranchers and/or industrial workers are targeted!" China slapped $60bn worth of tariffs on American goods on Tuesday in retaliation for new tariffs announced by the United States. (more...)
$100k reward to catch those spiking strawberries with needles in Australia
- September 16, 2018

Police are also investigating contamination of fruit sold by Delightful Strawberries , Love Berries and Oasis in NSW, Queensland , Victoria, and the ACT stores. "Whereas we would normally be selling 30 tonnes a day of locally grown strawberries to WA markets, it has dropped to 20 tonnes". "With strawberries you need to continue picking them", he told ABC . (more...)
FDA cracking down on e-cigarettes FDA cracking down on e-cigarettes
- September 16, 2018

In April, JUUL sent thousands of pages of records to be reviewed by the FDA - but apparently, it didn't bode well for the nicotine king. It reserved its strongest action for the manufacturers themselves. The burgeoning popularity of e-cigarettes among young smokers has caused traditional cigarette industry players a great deal of trouble by eating into their market share . (more...)
Canada's Freeland to hold NAFTA talks in Washington on Tuesday Canada's Freeland to hold NAFTA talks in Washington on Tuesday
- September 14, 2018

The prime minister Justin Trudeau has been clear about its intentions: we do not assign the management of the offer. U.S. President Donald Trump has threatened to push ahead with a bilateral deal with Mexico, effectively killing the nearly 25-year-old three-country NAFTA pact, which covers $1.2 trillion in trade. (more...)
White House adviser admits Trump got his facts wrong in economy tweet White House adviser admits Trump got his facts wrong in economy tweet
- September 12, 2018

In the end, Sanders backed down, with evidence that the black employment rate was 3.2 million under the Obama presidency and just 700,000 under Trump . But it plays directly into one of his biggest vulnerabilities, the questions of character that are exacerbated by the constant White House meltdowns. (more...)
Alibaba's Jack Ma to Step Down in a Year Alibaba's Jack Ma to Step Down in a Year
- September 11, 2018

Zhang, a former accountant, has worked at Alibaba Group for 11 years and is credited with establishing the e-commerce giant's Singles' Day event and for being one of the key driver's behind Alibaba's new retail strategy. Other members include Eric Jing, chief of Alibaba payment affiliate Ant Financial [ANTFIN.UL], Joe Tsai, executive vice chairman of Alibaba, Simon Hu, chief of Alibaba Cloud, and Lucy Peng, who heads Alibaba's Southeast Asia business. (more...)
Economy adds 201000 jobs in August Economy adds 201000 jobs in August
- September 10, 2018

When it comes to the USA jobs report , for years now it hasn't been the number of jobs created or the headline unemployment rate that's been in focus, but the mystery of the American paycheck. The jobless rate came in under 4 percent for the fourth time this year. Notably, the manufacturing sector lost about 3,000 jobs in August. That was the first drop since July 2017 and followed an increase of 18,000 in July. (more...)
Bernie Sanders introduces 'Stop BEZOS Act' in the Senate Bernie Sanders introduces 'Stop BEZOS Act' in the Senate
- September 09, 2018

Anecdotes shared by current and former Amazon employees corroborate these findings. Bernie says, "Bezos is paying his employees so low that these workers are depending on food stamps, subsidized housing and Medicaid to survive". Amazon , aware of the Vermont senator's plans to launch such a bill, pre-empted the announcement in an August blog post . In video interviews posted on Sanders' Facebook page, workers at several levels of Amazon described highly surveilled work environments, ... (more...)
Tesla's chief accountant quits after one month on the job (TSLA) Tesla's chief accountant quits after one month on the job (TSLA)
- September 09, 2018

The departures came after CEO Elon Musk gave a wide-ranging, almost three-hour interview to podcast host Joe Rogan and addressed topics ranging from his job at Tesla to the the end of the world. However, during an interview for The New York Times , Mr. Musk criticized the use of the drug while denying it had anything to do with attempting to take Tesla private. (more...)
Trudeau Threatens Relationship With The U.S. Trudeau Threatens Relationship With The U.S.
- September 08, 2018

Trump has notified Congress that he intends to sign the trade deal reached last week with Mexico by the end of November, and officials said the text would be published by around October 1. "I think that it's not necessarily a disaster", she said. However, U.S. President Donald Trump wants Chapter 19 scrapped. Some of the United States' 40,000 dairy farmers say they have also been hurt this year by tariffs imposed by China and Mexico in retaliation to those imposed by President ... (more...)
Obama issues scathing critique of Trump, 'politics of fear' Obama issues scathing critique of Trump, 'politics of fear'
- September 08, 2018

When most Republican elites who are skeptical of Trump use the word "normal", they have in mind the policy agenda supported by Paul Ryan and Mitch McConnell. This post has been updated with additional comments from Obama's speech . Obama's campaign activity will continue through October and will include fundraising appearances, according to an Obama adviser. (more...)
Third rapid drop in 24hrs sends Bitcoin price down to $6400 Third rapid drop in 24hrs sends Bitcoin price down to $6400
- September 08, 2018

Per that report , Goldman Sachs wanted to have it ready by the end of June 2018. The major cryptocurrencies slid quickly on Wednesday, with Bitcoin falling about 5% in about an hour, while Ethereum and Ripple were also hit. The Wall Street giant has not given up hope of trading cryptocurrencies entirely. However, while at a TechCrunch conference in San Francisco on Thursday, the CFO of Goldman Sachs , Martin Chavez , disputed any claims that the bank had been considering ... (more...)
Obama Slams Donald Trump Publicly For First Time Obama Slams Donald Trump Publicly For First Time
- September 08, 2018

Obama took Trump to task by saying he's played on voters' fears and crafted divisive policies. "Obama will preview arguments he'll make this fall, specifically that Americans must not fall victim to our own apathy by refusing to do the most fundamental thing demanded of us as citizens: vote". (more...)
Govt allows state refiners to use Iran tankers, insurance for oil imports Govt allows state refiners to use Iran tankers, insurance for oil imports
- September 06, 2018

The ongoing trade wars between the United States and some of the world's biggest economies, including the European Union and China , could hurt the demand for oil if they aren't settled soon. Considering the looming impact of the trade war between the United States and other major economies, including Iran, China and the European Union, OPEC's output witnessed an increase of 420,000 barrels a day from July. (more...)
No increase in fuel prices for September No increase in fuel prices for September
- September 04, 2018

On Wednesday fuel prices will increase by just 4.9c per litre, the department of energy announced on Monday. With expectations of further tightening in oil prices due to a mix of factors such as declining inventories in the United States, and Iran sanctions coming into place, the trend of rising petroleum prices is likely to continue. (more...)
Google and Mastercard in credit card data deal Google and Mastercard in credit card data deal
- September 03, 2018

This only happens if you were logged into a Google account when you clicked the ad and only if you purchase the product offline within 30 days of clicking the ad, Bloomberg says. It is possible - even probable - that Mastercard is not the only company Google has such a deal with. It makes sense that Google wants this information-it gives them the ability to prove to customers that Google's ad service drives sales. (more...)
Claiming Unfair Treatment, Trump Threatens To Pull United States From WTO Claiming Unfair Treatment, Trump Threatens To Pull United States From WTO
- September 03, 2018

The US business will hardly allow US President Donald Trump to bring into life threats of withdrawing from the World Trade Organization (WTO), the Ministry of Economic Development said on Friday. As reported earlier, USA trade representative Robert Leithiser said that China's accession to WTO in 2001 was a mistake. "The WTO is designed by the rest of the world to screw the United States". (more...)
Coca-Cola joins coffee sector, acquires Costa Coca-Cola joins coffee sector, acquires Costa
- September 02, 2018

The deal for £3.9 billion ($5.1 billion, 4.3 billion euros) comes as consumer demand for conventional carbonated drinks shrinks in the United States and other markets owing to health and obesity concerns. JAB added the United Kingdom -based food-and-coffee chain Pret A Manger in a $2 billion deal earlier this year, following its past acquisitions of high-end coffee brands Peet's and Stumptown. (more...)
Theresa May Shows Off Her Dance Moves With South African Children Theresa May Shows Off Her Dance Moves With South African Children
- August 30, 2018

Britain's Prime Minister Theresa May poses with school children during a visit to the ID Mkhize Secondary School in Gugulethu, as part of a working visit to South Africa , Aug. Mrs May then cited comments by the head of the World Trade Organisation, who said Brexit "won't be a walk in the park, but won't be end of the world either". (more...)
Elon Musk appears to reaffirm 'pedo guy' smear against British cave diver Elon Musk appears to reaffirm 'pedo guy' smear against British cave diver
- August 30, 2018

Unsworth engages in the sexual exploitation of Thai children", Unsworth's attorney L. Lin Wood wrote in an August 6 letter first published on Wednesday by Buzzfeed News . He then asked Olanoff if he had investigated for himself in two separate tweets, before concluding that he hadn't. A Tesla employee who was sacked from a Nevada battery factory filed a whistleblower complaint with the U.S. (more...)
Trump sets stage for Nafta overhaul with US-Mexico 'understanding' Trump sets stage for Nafta overhaul with US-Mexico 'understanding'
- August 28, 2018

On a midday call with reporters, he said administration officials "hope Canada can join" and predicted the - for now - two-country deal would lead to a "rebalancing" of the U.S. The plan would not contain an automatic expiration for NAFTA as proposed in the prior US demand for a "sunset clause". Both Canada and Mexico, as well as many in the US business community, reject that idea. (more...)
2M customers affected by T-Mobile data breach 2M customers affected by T-Mobile data breach
- August 27, 2018

The good thing is that no financial data or Social Security numbers or passwords were taken but some personal information may have been exposed such as your name, billing information, phone number, and email address. The breach happened on August 20, and the company claims to have quickly discovered and shut down the unauthorized access to customer information. T-Mobile immediately contacted customers who are believed to be affected by the data breach. (more...)
Trump Organization CFO Allen Weisselberg reportedly granted immunity Trump Organization CFO Allen Weisselberg reportedly granted immunity
- August 27, 2018

People instantly recognized who was in Conway's sights in this tweet . The effect of their alleged conspiracy against campaign finance laws was to defraud American voters, who were prevented from learning potentially relevant information ahead of Election Day 2016. (more...)
Fed chairman defends rate rise policy after attack by Trump Fed chairman defends rate rise policy after attack by Trump
- August 27, 2018

Where he stands on the pace of interest rate hikes will be scrutinized after minutes from the Fed's most recent policy meeting indicated the central bank would tighten monetary policy soon. Further, Powell believes the Fed policy has gradually moved closer to neutral, meaning the tightening cycle is nearing its end. Next month, the Fed is widely expected to resume raising rates. (more...)