Finance


Federal Reserve defies Trump and leaves interest rates unchanged Federal Reserve defies Trump and leaves interest rates unchanged
- June 21, 2019

The Fed left its key interest rate unchanged in a range of 2.25% to 2.5%, where it has been since December. The dollar fell and benchmark USA and euro zone government bonds fell after the Fed's move. The central bank kept rates unchanged. A specialist broker can deliver you an exchange rate closer to the real market rate, thereby saving you substantial quantities of currency. (more...)
Canadian government approves Trans Mountain pipeline, as expected Canadian government approves Trans Mountain pipeline, as expected
- June 20, 2019

Natural Resources Minister Amarjeet Sohi said he's met with Spahan "a number of times" and the government and Trans Mountain will both continue to work with the band on its unresolved concerns related to the project. "The costs of operating the pipeline and the extra costs associated with road maintenance above the pipeline should be born by the pipeline company", says Stewart. (more...)
Facebook Targets Bitcoin with New Cryptocurrency Facebook Targets Bitcoin with New Cryptocurrency
- June 19, 2019

And as with any cryptocurrency, there's also the risk of hacks or other types of attacks. This influence will manifest after the 12 to 18 months that Facebook will take to integrate the asset into its services. "We've seen this directly in numerous developing markets where we operate", explained the post. "Given its history of managing our data, it shouldn't take much to convince people that Facebook managing our money is probably a awful idea", Neil Campling, head of TMT Research at ... (more...)
USA releases video of Iran allegedly removing unexploded device from stricken tanker USA releases video of Iran allegedly removing unexploded device from stricken tanker
- June 15, 2019

USA and European security officials, as well as regional analysts, have cautioned against jumping to conclusions, leaving open the possibility that Iranian proxies, or someone else entirely, might have been responsible for Thursday's attacks. (more...)
Ford Explorer Recalled for Suspension Problem Ford Explorer Recalled for Suspension Problem
- June 14, 2019

Ford dealers will remove and replace left and right and rear suspension toe links and align the rear suspension. Possible fractured toe links in these select models mean the SUVs could lose steering control and be at risk of crashing. However, it said it was not aware of any reports of accident or injury related to the issue . The plan: The manufacturer aims to recall 4,300 vans, which were built at the Ohio Assembly Plant between May 11, 2009 and December 10, 2015. (more...)
Facebook now wants to Facebook now wants to "study" your phone and pay you for it
- June 14, 2019

They clarified that they will be working with a long-time partner, Applause , to handle the registration, compensation, and customer support. Study will report back to Facebook about the apps that users have on their phones; how much time they spend on those apps; what they do on them, the country they live in, and the type of device they use. (more...)
United States employers add a weak 75,000 jobs; unemployment stays 3 United States employers add a weak 75,000 jobs; unemployment stays 3
- June 11, 2019

US House of Representative Speaker Nancy Pelosi, a Democrat, said the employment report was 'a disturbing sign that the administration's disastrous special interest agenda is hollowing out our economy '. Factory output has been weak and sentiment dropped to a 31-month low in May, with manufacturers anxious mostly about the trade tensions. President Donald Trump's threat to impose tariffs on Mexico following additional tariffs on China, could send the global economy toward a ... (more...)
Trump may delay Mexico tariffs, aide says as trade talks resume Trump may delay Mexico tariffs, aide says as trade talks resume
- June 08, 2019

Trump also noted: "If we are unable to make the deal, Mexico will begin paying Tariffs at the 5% level on Monday!" The tariff rate could eventually reach as high as 25 percent, the White House said. "They need to keep the pressure where it needs to be applied". White House spokeswoman Mercedes Schlapp said in an interview that conversations were continuing but "it looks like we're moving toward this path of tariffs because what we've seen so far is that the Mexicans, what they're ... (more...)
Krispy Kreme, Walmart, Dunkin' offer free doughnuts Friday on National Doughnut Day Krispy Kreme, Walmart, Dunkin' offer free doughnuts Friday on National Doughnut Day
- June 08, 2019

No purchase necessary. Lamar's is collecting donations for the Salvation Army . Pictured: Croissant Doughnuts at Dunkin Donuts on November 3, 2014 in New York City. He then climbed down from the counter, danced his way to the doughnut rack and grabbed a pastry - recording himself taking a huge bite - while an employee watched in disbelief. (more...)
Google says cutting us off from Huawei is a security risk Google says cutting us off from Huawei is a security risk
- June 08, 2019

As I explained before, Huawei needs Android (and Windows) like fish need water for a different reason. Google was one of several American companies that had to cut ties with Huawei to comply with the USA government ban , and the company is now petitioning lawmakers in Washington to exempt it from the ban. (more...)
BMW and Jaguar Land Rover to jointly develop electric vehicle components BMW and Jaguar Land Rover to jointly develop electric vehicle components
- June 07, 2019

BMW said the firms "share the same strategic vision of environmentally-friendly and future-oriented electric drive technologies". The huge financial effort needed to develop electric and autonomous cars is pushing vehicle manufacturers to work together as much as possible - such was the justification given by Fiat-Chrysler and Renault for their own recent announcement to team up, although as of today it appears that deal has fallen through . (more...)
RBI cuts key rate by 25 bps, changes neutral stance to accommodative RBI cuts key rate by 25 bps, changes neutral stance to accommodative
- June 07, 2019

Besides, the RBI changed the monetary policy stance from neutral to accommodative. The move is expected to lead to reduction of lending rate by banks leading to lower EMI for housing, auto loan and corporate borrowers. The inflation outlook for the back half of the fiscal year in March was put at 3.4-3.7%, down from an earlier projection of 3.5-3.8%. Last week, government data showed GDP growth slowed to a five-year low of 5.8 per cent in the fourth quarter (Q4) of FY19. (more...)
Ohio's economy could suffer if tariffs are imposed on Mexico Ohio's economy could suffer if tariffs are imposed on Mexico
- June 06, 2019

As more and more Republican senators speak out against the President's proposed tariff on Mexico , which he thinks will force the country to stop illegal immigration into the U.S., President Trump tweeted a quote in support of the measure from the top House Republican. (more...)
Oil prices edge higher as Saudi reassurances stem decline Oil prices edge higher as Saudi reassurances stem decline
- June 06, 2019

WTI ended $1.80, or 3.4%, lower at $51.68 a barrel. Brent for August settlement dropped 20 cents to $61.08 a barrel on London's ICE Futures Europe exchange. Saudi Arabia, the de-facto leader of the Organisation of the Petroleum Exporting Countries ( OPEC ), indicated that the group of oil producers together with Russian Federation would continue managing global crude supplies to avoid a surplus. (more...)
U.S. defends welcome to students as China warns of risk U.S. defends welcome to students as China warns of risk
- June 05, 2019

In a separate warning, China's foreign ministry said U.S. law enforcement agencies have "repeatedly" used methods such as immigration and on-site interviews to " harass " Chinese citizens in the US. Commenting on the warning issued to students, foreign ministry spokesman Geng Shuang said the USA side had to be aware of the obstacles and impact they have created. (more...)
Huawei to dispose its undersea cable business
- June 05, 2019

Liang accused the USA of inappropriate conduct, while at the same time striking a conciliatory tone - a response reflecting a level of exasperation now felt by the Chinese tech giant. Suzanne Spaulding, who led DHS cybersecurity efforts during the Obama administration, faulted the Trump administration for not demonstrating "what specifically Huawei and China could do to overcome our security concerns". (more...)
Lower Emerging Market Demand Weighing on Prices Lower Emerging Market Demand Weighing on Prices
- June 02, 2019

Oil prices slumped to a three-month low Friday as concerns about President Trump's trade policy and the slowdown in the Chinese economy cast doubt on the outlook for global demand. OPEC and other major oil producers, including Russian Federation, pledged in December to cut production by 1.2 million barrels per day in order to prop up prices, effective from this January. (more...)
MacKenzie Bezos Pledges To Donate Half Of Her $36 Billion Fortune MacKenzie Bezos Pledges To Donate Half Of Her $36 Billion Fortune
- May 29, 2019

Fulfilling the requirements of the pledge can be tricky in a world where the wealthiest are accruing more riches than ever. "In addition to whatever assets life has nurtured in me, I have a disproportionate amount of money to share", she said in a statement . (more...)
Large snake found hiding inside Walmart shopping cart
- May 29, 2019

It was a lesson one Walmart employee learned the hard way when they discovered a huge snake inside a shopping cart. An officer discovered the large rat snake after hearing a "loud scream" in the parking lot of a Walmart in Texas. He was only bit once while moving the snake. They say everything is bigger in Texas, and that's including the wildlife. "The Texas rat snake is one of the most commonly encountered species of non-venomous snake in North Texas and this is especially true for ... (more...)
Fiat plans merger with Renault in latest auto industry jolt Fiat plans merger with Renault in latest auto industry jolt
- May 28, 2019

A deal could help both companies address some of the shortcomings that have led their market valuations to lag major rivals, as well as the shift to electric and self-driving technologies amid tightening emissions regulations. Nissan isn't involved in talks between the two European auto companies and doesn't view an extensive deal between them as a positive development, people with knowledge of the matter said. (more...)
Trump arrives for ceremonial Japanese visit of Reiwa era Trump arrives for ceremonial Japanese visit of Reiwa era
- May 27, 2019

The president's first stop will be a dinner with business leaders at the USA ambassador's residence in Tokyo after a brief airport welcome. Trump awaited another honour Monday when he was to become the first foreign leader to meet with Japan's new emperor, Naruhito , since he ascended to the throne on May 1. (more...)
Modi elected leader of BJP and NDA parliamentary party Modi elected leader of BJP and NDA parliamentary party
- May 26, 2019

In 2014, Mr Modi had turned emotional in the Central Hall while addressing the MPs. He also called for the NDA to work with cohesion for the country's development and said his " naara " (slogan) for the alliance is "national ambition and regional aspirations". (more...)
Google removed Huawei Mate X and P30 Pro from Android’s website Google removed Huawei Mate X and P30 Pro from Android’s website
- May 25, 2019

Shortly after the Android bombshell we learned that hardware makers such as Intel , Qualcomm , Xilinx and Broadcom had been given notice to not work with Huawei either. "Most countries have always been highly alert to U.S. government acts of resorting to state power to crack down on companies in other countries, disrupt markets and obstruct mutually beneficial cooperation between other countries", Lu said . (more...)
China says USA must show 'sincerity' for trade talks to continue China says USA must show 'sincerity' for trade talks to continue
- May 24, 2019

President Donald Trump is delivering another $16 billion in aid to farmers hurt by his trade policies, an effort to relieve the economic pain among his supporters in rural America. "More import restrictions would also make tradable consumer goods less affordable, harming low-income households disproportionately". " President Trump knew farmers would bear the brunt of the lack of a trade deal with China", the agriculture secretary said on the call. (more...)
IP Vendor ARM Also Interrupts Business With Huawei IP Vendor ARM Also Interrupts Business With Huawei
- May 24, 2019

On Monday, Google announced it was cutting off Huawei's access to future updates of Google's Android and Google Play Store. The United States last week blocked Huawei from buying goods made from 25% or more of USA -originated technologies or materials, accusing the firm of being a vehicle of Chinese state power and a potential threat to national security. (more...)
Google allows Huawei to keep using Android until August Google allows Huawei to keep using Android until August
- May 22, 2019

For Huawei phone users, the temporary reprieve means Google will be able to provide key Android security updates during the 90-day time frame, but future Huawei phones will still lack Google's apps. Google followed suit, and is now giving the Chinese telecom giant, the world's second-largest smartphone maker, Android access until August 19. Ren put up a strong front today, reiterating claims that the restrictions will not hurt Huawei's prospects and that no other company will be able to ... (more...)
Baidu stock falls 8% as company swings to quarterly loss Baidu stock falls 8% as company swings to quarterly loss
- May 20, 2019

Analysts polled by FactSet had expected adjusted earnings of 40 cents a share on sales $3.53 billion for the company. Given the current macro conditions, tighter government scrutiny on content, cutbacks from the (venture capital) community, and so forth, we are taking a cautious view that online marketing in the near term will face a more challenging environment. (more...)
Luckin, a Starbucks rival in China, rises in US stock debut Luckin, a Starbucks rival in China, rises in US stock debut
- May 20, 2019

In the biggest USA float by a Chinese company this year, Luckin Coffee sold 33 million American depository shares (ADS), more than the 30 million it originally said it would sell, at US$17 each, the report said. Luckin's caffeine-fuelled expansion has been funded by investors including Centurium Capital, a private equity fund founded by the former China head of Warburg Pincus, and Joy Capital. (more...)
Trump executive order enables ban on Huawei telecom gear Trump executive order enables ban on Huawei telecom gear
- May 16, 2019

The US is also pushing other countries not to use Huawei's equipment in 5G networks. According to a White House statement, Mr Trump's order aims to "protect America from foreign adversaries who are actively and increasingly creating and exploiting vulnerabilities in information and communications technology infrastructure and services". (more...)
Dow Plummets 617 points after China Hits U.S Dow Plummets 617 points after China Hits U.S
- May 16, 2019

At the S&P 500 , only a few dozen companies moved higher, but majority were in the utility sector that tends to not react to big broad market moves. On Tuesday, Hong Kong's Hang Seng index fell 1.6%. Gold prices added $13.30 to $1,300.70 U.S.an ounce. But "an accompanying "reinversion" of the Treasury yield curve suggests that the best days for US equities may be over even if the two economies eventually resolve their dispute". (more...)
Couple who claimed Roundup weedkiller caused their cancer awarded $2bn Couple who claimed Roundup weedkiller caused their cancer awarded $2bn
- May 16, 2019

The cases have uncovered internal Monsanto documents that plaintiffs' lawyers say reveal the ways in which the company has " bullied " scientists over the years and helped "ghostwrite" research defending the safety of glyphosate , the main ingredient in Roundup. (more...)
Saudi pumping stations struck by drones carrying explosives, says minister Saudi pumping stations struck by drones carrying explosives, says minister
- May 15, 2019

Brent crude futures were at $71.02 a barrel at 1335 GMT, up 79 cents or 1.12 per cent. Authorities have yet to reveal the extent of the damage to the Saudi tankers, although initial reports suggested Al Marzoqah's main engine caught fire. (more...)
Uber shares continue slide Uber shares continue slide
- May 14, 2019

Dara Khosrowshahi, Uber's chief executive officer, said in an interview on the floor of the New York Stock Exchange that trade tensions between the USA and China played a role in the weak performance. Uber CEO Dara Khosrowshahi arrives at the New York Stock Exchange for his company's initial public offering, Friday, May 10, 2019. Moreover, he compared Uber's IPO to those of Amazon and Facebook. (more...)
Supreme Court rules against Apple, allowing lawsuit targeting App Store to proceed Supreme Court rules against Apple, allowing lawsuit targeting App Store to proceed
- May 14, 2019

With Monday's ruling, it will kick the case back to a lower court, where iPhone owners and Apple will continue what is likely to be a lengthy legal battle. Four conservative justices dissented. During oral arguments past year, conservative Justice Samuel Alito questioned if the precedent that Apple cited now "stands up" in the digital ecosystem. (more...)
One of Facebook’s Founders Warns of Zuckerberg's ‘Near-Unilateral Power' One of Facebook’s Founders Warns of Zuckerberg's ‘Near-Unilateral Power'
- May 13, 2019

Facebook bought Instagram in 2012 and WhatsApp in 2014. The founders of Instagram and WhatsApp have left, as has the executive who took over WhatsApp previous year. "It's time to #BreakUpBigTech", Warren said on Twitter on Thursday. "The way forward is to heavily scrutinize future mergers and to ensure no company has anti-competitive platform privileges", Khanna said. (more...)
Saudi Aramco offers to increase oil supply to India Saudi Aramco offers to increase oil supply to India
- May 10, 2019

The latest US EIA data showed an unexpected drop in the US crude inventories by 4 million barrels in the week to May 3. "We should increase production and raise our (non-oil) exports and resist America's plots against the sale of our oil". (more...)
Bitcoin THEFT: Hackers steal more than $40MILLION in BTC from cryptocurrency exchange Bitcoin THEFT: Hackers steal more than $40MILLION in BTC from cryptocurrency exchange
- May 10, 2019

Second, such an action could result in another bitcoin fork which would only serve to dilute the digital currency further. This site claims there are 105 bitcoin forks so far, with 74 still active and relevant to bitcoin holders while the other 34 are historic and meaningless. (more...)
New York Times reveals Donald Trump tax returns New York Times reveals Donald Trump tax returns
- May 09, 2019

For example, in 1985 Mr. Trump reported losses of $46.1 million from what the Times called his core businesses of casinos, hotels and retail space in apartment buildings. During the period described, Trump said he was allowed massive tax write-offs for depreciation and many "non monetary" losses, adding the report contained "very old information". (more...)
Uber drivers strike on May 8 before IPO to protest low pay Uber drivers strike on May 8 before IPO to protest low pay
- May 08, 2019

The New York City Taxi Workers Alliance says its members voted not to drive for Uber or Lyft between 7 and 9 a.m. Wednesday. The drivers intend to send a message to Uber , which is slated to begin trading as a public company on Friday. (more...)
Buffett's Berkshire Posts Big Profit as Stocks Gain Buffett's Berkshire Posts Big Profit as Stocks Gain
- May 06, 2019

A young shareholder, brought to Berkshire Hathaway's annual meeting by her father, asked Warren Buffett what his favourite investment was outside of the conglomerate. "It benefits from changing tastes because it's an intermediary". "I don't think the country will go into socialism in 2020, or in 2040, or 2060", Buffett told investors in Omaha , Nebraska during Berkshire's annual meeting on Saturday. (more...)