Finance


Will Gas Prices Go Up? Saudi Arabia to Cut Production Will Gas Prices Go Up? Saudi Arabia to Cut Production
- November 16, 2018

The Indian market too welcomed the fall in global oil prices and opened higher today. US crude production climbed to 11.7 million bpd, the highest on record, according to EIA data on Thursday. Now, we've spoken many times before about the numerous reasons why crude prices can plunge: artificial manipulation from short sellers and institutional monkeyshines, geopolitical tensions, distortions in supply and demand, even outright oversupply - we've seen it all before. (more...)
Amazon chooses New York City neighborhood, DC suburb for HQ2 Amazon chooses New York City neighborhood, DC suburb for HQ2
- November 14, 2018

It said on Tuesday it will receive performance-based direct incentives of US$1.525 billion from the state of NY, based on the company creating 25,000 jobs in Long Island City . Boston had pitched the Suffolk Downs site for Amazon to build on. Amazon's statement said it would create four million square feet (370,000 square meters) of office space in NY, with an option to double that, and that the overall investment would boost tax revenue by some $10 billion over 20 years. (more...)
Boeing Plane Crashed in Indonesia After Key Sensor Replaced Boeing Plane Crashed in Indonesia After Key Sensor Replaced
- November 09, 2018

The manufacturer cautioned that the so-called angle-of-attack sensor can provide false readings in limited circumstances that cause the 737 Max to pitch nose downward. It seems patently obvious to say that such situations shouldn't happen in this day and age-and clearly the investigation is still in its earliest stage-but it is troubling to see something so deadly transpire in the most modern aircraft in the Boeing fleet. (more...)
Tesla picks Robyn Denholm to replace Musk as chairperson Tesla picks Robyn Denholm to replace Musk as chairperson
- November 09, 2018

Musk also retweeted Tesla's announcement saying he has great respect for Denholm and looks forward to working with her. According to a Tesla spokesperson, Denholm will receive 8,000 stock options each year and a cash retainer of $300,000 upon leaving Telstra to take on this new role. (more...)
What's next for recreational marijuana in MI? What's next for recreational marijuana in MI?
- November 08, 2018

MI voters approved a law that legalized the possession, use, and cultivation of marijuana products by those who are at least 21 years of age. By her calculation, after factoring in MI, the total addressable market for adult, medical, and illicit use of marijuana will be $24.5 billion by 2030. (more...)
Apple delivers strong profits, but investors punish shares Apple delivers strong profits, but investors punish shares
- November 05, 2018

September 12, the company presented iPhone XR , iPhone XS iPhone XS Max and the new Apple Watch . "We were especially pleased with Mac momentum in emerging markets, with strong growth in Latin America, India , West Asia and Africa, and Central and Eastern Europe", said Apple's Chief Financial Officer Luca Maestri. (more...)
Midterm elections 2018 polls: Trump anti-immigration campaign hits Democrat lead Midterm elections 2018 polls: Trump anti-immigration campaign hits Democrat lead
- November 05, 2018

Congressional candidates campaigned in a whirlwind close across the country: in Virginia, Democrat Jennifer Wexton greeted voters in the Manassas Veterans Day parade; in New Jersey Republican Jay Webber met them in a diner, and in Minnesota Republican Pete Stauber went door-to-door urging people to vote. (more...)
Americans' paychecks are rising at their fastest rate in 9 years Americans' paychecks are rising at their fastest rate in 9 years
- November 05, 2018

Sluggish worker pay gains despite the healthy jobs market had baffled economists, and the increase now is well above the 2.3 percent pace of consumer inflation. Many employers have long complained they can't find enough workers to fill jobs. Trump and Republican candidates painted the jobs report as further proof of an economic boom, but many independent economists warn that growth has probably peaked and that it is likely there will be a slowdown, especially if trade tensions ... (more...)
Two Workers Are Dead After Partial Building Collapse At Amazon's Baltimore Warehouse Two Workers Are Dead After Partial Building Collapse At Amazon's Baltimore Warehouse
- November 05, 2018

That person was taken to a hospital and declared dead, per CBS Baltimore; a second body was found early Saturday, officials say. Two people have died in a partial building collapse at an Amazon Fulfillment Center in southeast Baltimore , officials said Saturday. (more...)
Pittsburgh Rabbi Receives Hate Mail for Saying President Trump Would Be Welcome Pittsburgh Rabbi Receives Hate Mail for Saying President Trump Would Be Welcome
- October 31, 2018

Among them were two brothers, 59-year-old Cecil and 54-year-old David Rosenthal, as well as 66-year-old Dr. "Screw your optics, I'm going in". The organization did not elaborate on the specifics of the phone calls, the organization told reporters that the call's tenor was "anti-Jewish" and "pro-Trump". (more...)
Indonesia’s Lion Air Says It’s Lost Contact With Airplane Indonesia’s Lion Air Says It’s Lost Contact With Airplane
- October 29, 2018

The carrier operates with regional partners Thai Lion Air , Malindo Air, Wings Air, Batik Air and Lion Bizjet. "Officer PHE ONWJ perform evacuation and take the documentation". Indonesian investigators' final report showed a chronically faulty component in a rudder control system, poor maintenance and the pilots' inadequate response were major factors in what was supposed to be a routine flight from the Indonesian city of Surabaya to Singapore. (more...)
United States economy grows 3.5% in third quarter United States economy grows 3.5% in third quarter
- October 29, 2018

Inventories increased at a $76.3 billion rate after declining at a $36.8 billion pace in the second quarter. The report said the inflation will remain under control this year and next. But some private economists worry that the recent stock market declines could be a warning signal of a coming slowdown. That was the fastest pace since the fourth quarter of 2014 and followed a 3.8 per cent pace of increase in the second quarter. (more...)
IBM acquires Red Hat to take on Amazon and Microsoft IBM acquires Red Hat to take on Amazon and Microsoft
- October 29, 2018

Founded in 1993, Red Hat specializes in Linux operating systems, the most popular type of open-source software, which was developed as an alternative to proprietary software made by Microsoft Corp. "Knowing first-hand how important open, hybrid cloud technologies are to helping businesses unlock value, we see the power of bringing these two companies together, and are honored to advise IBM and commit financing for this transaction", JPMorgan CEO Jamie Dimon said in a statement. (more...)
Drawing nears for $750 million Powerball jackpot Drawing nears for $750 million Powerball jackpot
- October 28, 2018

The next drawing will be held on Saturday at 11 p.m. EST. "We all got a text saying we got a million-dollar ticket", Kraemer said. Hoping to strike some luck, Earl Livingston, of Blackwood, New Jersey , headed to a nearby convenience store to buy a ticket for the $1.537 billion Mega Millions drawing. (more...)
After 'historic' quarter, Tesla looks to Europe, China After 'historic' quarter, Tesla looks to Europe, China
- October 28, 2018

The automaker made 5,300 Model 3s during the final week of the third quarter, less than the weekly goal of 6,000 it had set for the end of August. Tesla said that delivery and logistics were the biggest challenges within the third quarter but was able to quickly work around it by making improvements. (more...)
Saudi Arabia says Turkish evidence shows planned killing of Khashoggi Saudi Arabia says Turkish evidence shows planned killing of Khashoggi
- October 26, 2018

Turkish President Recep Tayyip Erdogan has said Saudi officials made "reconnaissance" trips to the forest as well as the city of Yalova a day before Khashoggi was killed. Cavusoglu said Turkey had no intention of taking the Khashoggi case to an global court but would share information if an worldwide inquiry were launched. (more...)
US Crude Stocks Rise, Gasoline, Diesel Stocks Down US Crude Stocks Rise, Gasoline, Diesel Stocks Down
- October 26, 2018

However, yesterday, oil prices fell almost 3 percent to more than one-month lows after Saudi Arabia said it could supply more crude quickly if needed, easing concerns ahead of USA sanctions on Iran and as US equity markets sold off. There have been reports that companies in different parts of the world would defy sanctions and continue buying Iranian oil. Prices had slumped as forecasters including Opec and the International Energy Agency predicted slower oil-demand growth for 2019. (more...)
Poker Players Go Wild For $1.6 Billion Mega Millions Jackpot Poker Players Go Wild For $1.6 Billion Mega Millions Jackpot
- October 26, 2018

The victor matched all five numbers - 3, 21, 45, 53, 56 , but not the Powerball , 22. In March, a New Hampshire judge ruled that a $560 million Powerball jackpot victor can stay anonymous after she sued the state's lottery. The growing jackpot, which as of Thursday morning stood at three quarters of a billion dollars, could end up as the fourth largest cash haul in US lottery history if a winning ticket is purchased, statistics show. (more...)
WWE Crown Jewel will remain in Saudi Arabia as planned WWE Crown Jewel will remain in Saudi Arabia as planned
- October 25, 2018

Several U.S. government officials, including Senators Chris Murphy and Richard Blumenthal (from CT, where WWE is based), Bob Menendez (New Jersey), Lindsay Graham (South Carolina) and Chris Coons (Delaware) had encouraged WWE to postpone the event or reconsider its relationship with Saudi Arabia. (more...)
Mega Millions jackpot hits $1.6 billion, thanks to worsening odds Mega Millions jackpot hits $1.6 billion, thanks to worsening odds
- October 25, 2018

A record-setting $1.6 billion prize in the Mega Millions lottery has Americans dreaming of buying homes, cars, helping financially strapped friends and family and early retirement, but experts caution that with their newfound riches will come many headaches. (more...)
Canopy Growth to Buy Pot Research Company Ebbu in $19.2 Million Deal Canopy Growth to Buy Pot Research Company Ebbu in $19.2 Million Deal
- October 22, 2018

Market cap is just a fancy name for a straightforward concept: it is the market value of a company's outstanding shares. The company have shares float of 179.31 million. On the other side, the firm has one month volatility of 7.42%. He has a $200 price target for the stock - 26% above where shares settled Tuesday . (more...)
$2 Million Powerball Winner in Knoxville $2 Million Powerball Winner in Knoxville
- October 22, 2018

The victor might opt for the cash prize of more than $270 million, from which the federal government will take 25% right away, and more later. On Friday, no jackpot winners were selected in the Mega Millions drawing, which had a grand prize of over $900 milion. (more...)
Powerball winning numbers drawn. Did you win? Powerball winning numbers drawn. Did you win?
- October 22, 2018

Another massive jackpot will be on the line Saturday when Powerball , which stands at $470 million, is drawn. 'It's hard to overstate how exciting this is - but now it's really getting fun.' Mega Millions tickets are sold in 44 states , Washington DC and the US Virgin Islands. (more...)
Saudi Arabia admits Khashoggi died at Istanbul consulate Saudi Arabia admits Khashoggi died at Istanbul consulate
- October 22, 2018

Saudi TV also confirmed that General Ahmad al-Asiri, deputy director of General Intelligence Directorate, was sacked over the incident. "The Saudi "explanation" for murdering journalist and Virginia resident Jamal Khashoggi in a consulate_a fistfight gone wrong_is insulting", tweeted Sen. (more...)
Trump threatens to send troops to border to stop migrant caravan Trump threatens to send troops to border to stop migrant caravan
- October 20, 2018

President Donald Trump are trying to discourage them . Trump tweeted on Thursday, adding that he blamed Democrats for what he called "weak laws!" "I will call up the U.S. Mexican Foreign Minister Luis Videgaray insisted Mexico would not cave to pressure to detain the migrants, vowing to respect their human rights and urging the Trump administration to address the root causes of their northward flight: violent crime and poverty. (more...)
Trump says 'rogue killers' may be behind Khashoggi disappearance Trump says 'rogue killers' may be behind Khashoggi disappearance
- October 17, 2018

Turkish officials have said they believe he was killed - a claim Saudi Arabia has denied - with the controversy dealing a huge blow to the prince's efforts to showcase a reform drive and burnish the kingdom's image. Later, at the White House, he reiterated that there would be "powerful consequences" for Saudi Arabia. "Who knows? We're going to try getting to the bottom of it very soon". (more...)
Mega Millions winning numbers tonight for $667 million jackpot Mega Millions winning numbers tonight for $667 million jackpot
- October 17, 2018

The numbers were 3, 45, 49, 61, 69 and Mega Ball 9. The estimated cash value, if you're lucky enough to match all six numbers, is $380 million. The next drawing is Friday, Oct. The last Powerball jackpot, which totaled $245.6 million, was won August 11 by a man in Staten Island, New York. The largest Powerball jackpot was $1.586 billion, which was shared by winners in California, Florida and Tennessee in January 2016. (more...)
UK, Germany, France press Saudi Arabia over Khashoggi disappearance UK, Germany, France press Saudi Arabia over Khashoggi disappearance
- October 17, 2018

During an interview with "60 Minutes" that aired Sunday night, President Donald Trump threatened " severe punishment " against Saudi Arabia if it was found to have been involved in the journalist's disappearance. The Saudi warnings came after the country's stock market fell as much as 7% on Sunday amid fears of sanctions. Doubts are also growing over whether British Trade Secretary Liam Fox will attend the Riyadh conference, the BBC reported Sunday citing diplomatic sources. (more...)
Whirlpool says Sears bankruptcy will have 'very limited' impact Whirlpool says Sears bankruptcy will have 'very limited' impact
- October 16, 2018

Sears then tweaked those plans and said it would shut down "only" 63 locations, including 48 Sears store closures and 15 Kmart store closures . Wells Fargo & Co., Citigroup Inc. Its management tried to compete by closing stores and cutting costs. Whirlpool, which had started in business more than a century ago selling its appliances at Sears, pulled its various brands out of Sears and Kmart stores previous year. (more...)
Saudi Arabia preparing to admit Khashoggi was killed Saudi Arabia preparing to admit Khashoggi was killed
- October 16, 2018

More major players in global finance and industry are pulling out of a high-profile business conference in Saudi Arabia in the wake of reports that a Saudi writer critical of the government disappeared and is feared dead after entering a Saudi consulate in Turkey. (more...)
Sears is hammering out deal to stay open in bankruptcy Sears is hammering out deal to stay open in bankruptcy
- October 15, 2018

Since a year ago alone, Sears has closed more than 380 of its 894 stores , down from 2,200 stores in the USA and Canada in 2005. "I don't understand the point of Sears, I just buy everything online", said 23-year-old Lyft driver Shannon Dickey as we pull up to the abandoned storefront of Sears that sits at the top of Ross Park Mall, nine miles north of downtown Pittsburgh "I think their old catalogs are cool, but I just don't understand the point of Sears". (more...)
Elon Musk commits to SEC settlement despite mocking tweets Elon Musk commits to SEC settlement despite mocking tweets
- October 15, 2018

CEO Musk must also stand down as chairman of the USA electric auto maker. The son of Fox mogul Rupert Murdoch , he joined Tesla's board in July 2017 after years of work with media companies. With Tesla's Q3 earnings report coming in less than four weeks, T. Rowe Price's increased stake in the electric auto maker could prove to be a strategic investment for the financial firm. (more...)
Turkey, Saudi Arabia discuss missing journalist case Turkey, Saudi Arabia discuss missing journalist case
- October 15, 2018

What did the Europeans say? "We encourage joint Saudi-Turkish efforts in that regard, and expect the Saudi government to provide a complete and detailed response", they added. US markets have been rattled by rising interest rates, signs of a slowdown in the global economy and the U.S. However, Turkish officials said Sunday that Saudi Arabia appears to be using delay tactics and is interested only in presenting a facade of cooperation. (more...)
Trump blames stock market drop on Federal Reserve Trump blames stock market drop on Federal Reserve
- October 14, 2018

The benchmark USA 10-year Treasury bond usually offers a lower return, or yield, than a typical index fund that tracks the S&P 500 . The S&P 500 index closed lower for a sixth straight day. Simply put, stocks are sinking as Treasury rates spike. Higher rates generally hurt stock prices for a few reasons. Economists generally view the recent rate increases as a natural response to improved growth. (more...)
Natural gas output stranded after B.C. pipeline explosion Natural gas output stranded after B.C. pipeline explosion
- October 14, 2018

This line was shut down as a precautionary measure following the October 9 incident on its 36-inch gas line near Prince George. FortisBC continues to ask customers to avoid all non-essential use of natural gas until the situation has been completely resolved. (more...)
Wall Street dives, setting the ASX up for heavy losses at open Wall Street dives, setting the ASX up for heavy losses at open
- October 12, 2018

Technology and internet-based companies are known for their high profit margins, and many have reported explosive growth in recent years, with corresponding gains in their stock prices. Delta Air Lines shares rose 3.8 percent after the airline beat profit expectations. The Nasdaq composite rose 15 points, or 0.2 percent, to 7,436. The CBOE Volatility Index, or VIX, a market barometer often dubbed Wall Street's fear gauge, surged almost 40%. (more...)
U.S. ramps up pressure on Saudis over missing journalist U.S. ramps up pressure on Saudis over missing journalist
- October 12, 2018

He warned that the Saudis could instead buy from Russian Federation or China. Reports about the USA appointing investigator over the disappearance of Saudi journalist Jamal Khashoggi are untrue, said Turkish diplomatic sources on Thursday. (more...)
USA actively considering waivers on Iran oil sanctions USA actively considering waivers on Iran oil sanctions
- October 11, 2018

Other images revealed a black van later travelling from the Saudi consulate to the consul's home. Earlier this week, Indian officials said that they hoped India could secure a waiver from the United States, because it has significantly reduced purchases of Iranian oil . (more...)
International Monetary Fund chief defends Beijing from currency manipulation claims International Monetary Fund chief defends Beijing from currency manipulation claims
- October 11, 2018

Last month, the Swiss government, raised its GDP forecast for 2018 to 2.9% from 2.4% and, earlier this year, it was announced that Swiss exports had matched and surpassed their recent growth. The IMF had recently termed the exchange rate as "overvalued". The financial outlook, combined with global uncertainty over trade tensions between Washington and trading partners like China, has created "a bit of an unprecedented situation" for the world economy, said Lagarde . (more...)
Brexit: EU's Tusk tells May to 'get down to business' Brexit: EU's Tusk tells May to 'get down to business'
- October 07, 2018

Yes, it took us a few goes before we could think about anything else. "Our mission as Conservatives must be to show them that we can build an economy that does". and secondly, to seek a good trading and security relationship with our neighbours after we have left". She also clocked up more uses of the words "freedom" (15 compared with three for Corbyn), "security" (13 compared to six) and "opportunity" (eight compared to two). (more...)