Business

Business Crude oil prices test recent lows at start of holiday-shortened week
Author: 0 Crude oil prices test recent lows at start of holiday-shortened week

Brent crude in London fell by $0.46 and the price of WTI in NY fell $0,29. How likely is an OPEC+ production cut? While trade tensions between China and America weaken the outlook for demand, Saudi Arabia's oil policies aim to preserve market stability, the nation's king said during his first major public speech since the murder of prominent journalist Jamal Khashoggi.

Business Pence: U.S. Won't Budge to Avoid Cold War With China
Author: 0 Pence: U.S. Won't Budge to Avoid Cold War With China

Trade tensions have escalated between Beijing and Washington this year as Trump has slapped $250 billion of Chinese products with new tariffs. " Then so be it ", Pence said. Woodward told Radio Sputnik's Loud & Clear on Wednesday that Pence's latest remarks hinting at a cold war between Beijing and Washington are a continuation of a stream of rhetoric previously voiced by the vice president.

Business Oil rout runs to 12 days on supercharged selling
Author: 0 Oil rout runs to 12 days on supercharged selling

Brent crude , used to price global oils, dropped to $65.17 a barrel. With this type of trend, falling stock prices cause investor confidence to plummet right along with the oil prices . A lift in USA sanctions on Iran, increased shale oil production coupled with predictions of reduced world demand for oil has kept prices in trenches.

Business Democrats edging toward California blowout in US House
Author: 0 Democrats edging toward California blowout in US House

At Tuesday's meeting, McCarthy and Jordan encountered frustration, finger-pointing and questions as lawmakers sorted through an election defeat and began considering new leadership for the next congressional session. McConnell led the GOP to victory in the midterm Senate elections, albeit by a narrow margin. It could be tricky, as Trump has called for new funding for his wall on the southern U.S.

Business Alibaba's Singles' Day sales hit new high, $24.3 billion by midday
Author: 0 Alibaba's Singles' Day sales hit new high, $24.3 billion by midday

It was created by Alibaba, a Chinese e-commerce giant, which this year has racked up sales of an eye-watering $25 billion last year and is expecting to clear $35 billion this year. Consumers spent a total of 168.5 billion yuan ($24.3 billion) by the afternoon, the report said. Online retail sales growth slowed to 24 percent, down 12 percentage points in the second quarter, according to the National Bureau of Statistics.

Business Telstra CFO hangs up, plugs in as new Tesla chair
Author: 0 Telstra CFO hangs up, plugs in as new Tesla chair

While she will resign from Telstra to take the role full-time, some analysts expressed concern that she may not be far enough removed from Musk to rein in the billionaire's public outbursts and bring more order to Tesla . "Great respect. Very much look forward to working together", Musk tweeted early on Thursday. Elon Musk will remain as CEO. She also has worked at various technology companies including Juniper Networks and Sun Microsystems and held finance management posts at Toyota ...

Business Amazon will open separate HQ2 locations in 2 different cities
Author: 0 Amazon will open separate HQ2 locations in 2 different cities

According to the Washington Post , which spoke with several sources, Amazon has been holding "advanced discussions" about placing its second headquarters in Virginia's Crystal City , a neighborhood of Arlington. Amazon could announce its decision at any time . What qualities is Amazon seeking for HQ2? Just yesterday, the Journal reported that Dallas was also still in the mix along with Crystal City and the Big Apple as Amazon's late-stage negotiations progressed with a handful of ...

Business China says it is willing to help Pakistan over fiscal crisis
Author: 0 China says it is willing to help Pakistan over fiscal crisis

China on Saturday assured Pakistan of its full support to "tide over" the financial crisis, clearly signalling Beijing's readiness to give fresh loans to its all-weather ally which is in deep economic distress. After the talks, the two leaders witnessed the signing of more than 10 documents on cooperation in areas including science research, justice, poverty reduction, health and customs.

Business Micron's Chinese DRAM antagonist hit with U.S. export boycott
Author: 0 Micron's Chinese DRAM antagonist hit with U.S. export boycott

The United States, Europe and other trading partners say Beijing's tactics violate its market-opening obligations. Negotiations have reportedly stalled ahead of a planned meeting between U.S. U.S. Commerce Secretary Wilbur Ross said the U.S. believes the Chinese firm's new plant was likely the beneficiary of "U.S. -origin technology" and its additional production would threaten the long-term viability of U.S.

Business Trump not expected to come to MI before November 6 election
Author: 0 Trump not expected to come to MI before November 6 election

But according to the Cook Report , which analyzes individual House races, the Democrats only have a net 16-seat polling advantage. She won her party's nomination and will vie for the state's 1st District seat. Trump won Missouri by almost 19 percentage points in 2016. Democrats have far out-raised Republicans. This year, opinion polls give Levin an edge over his Republican rival, Diane Harkey.

Business Accused Pittsburgh Synagogue Shooter Appears in Court for First Time
Author: 0 Accused Pittsburgh Synagogue Shooter Appears in Court for First Time

Matt Brooks, the executive director of the D.C. -based Republican Jewish Coalition, told CNN that Trump's condemnation of anti-Semitism was "very powerful and strong". "Bigots are coming out of the woodwork", he said. Novy, 73, a retired college English professor, said she signed an open letter asking Trump not to come to Pittsburgh .

Business Check your numbers: Winning $3 million lottery ticket sold in Orlando
Author: 0 Check your numbers: Winning $3 million lottery ticket sold in Orlando

Another winning ticket worth $1 million was sold at a Publix at 601 Weldon Blvd.in Lake Mary. It could be days or even weeks before a victor steps forward to claim the prize. And if you find that you are not mega-lucky from Tuesday night's drawing, there's always Powerball. Neither of them opted to pay the extra $1 for the Megaplier, but, if they had, their tickets would be worth $3 million.

Business New Jersey Man Breaks His Hip but Wins the Lottery
Author: 0 New Jersey Man Breaks His Hip but Wins the Lottery

Wednesday's winning Powerball numbers were 2, 21, 45, 53 and 56 with a Powerball of 22. Lottery players will have a shot at the fourth-largest jackpot in USA history as numbers are drawn for the estimated $750 million Powerball game.

Business Jeff Bezos Loses $14 Billion as Amazon Stock Plunges
Author: 0 Jeff Bezos Loses $14 Billion as Amazon Stock Plunges

Amazon is a company that seems to be midway through a transformation meant to bring soaring profitability via improving margin on the back of its truly staggering sales run rates. A large part of the reason for investor disappointment was that Amazon does not expect to do as well over the Christmas season as it had hoped. Intel Corp defied weakness to gain 3.6 percent after its better-than-expected quarterly results, though interim Chief Executive Officer Bob Swan said trade tensions with ...

Business United States crude oil inventories increase last week: API
Author: 0 United States crude oil inventories increase last week: API

However, the effects of the US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) in May, the resumption of Iran sanctions and the potential response from other countries posed significant uncertainty to the forecast. The WTI Crude Oil market had a solid day on Thursday, reaching towards the $67.50 level. It fell earlier in the day to $75.11, the lowest since August 24.

Business Trump believes Kushner relationship with Saudi crown prince a liability
Author: 0 Trump believes Kushner relationship with Saudi crown prince a liability

Saudi Arabia has threatened to retaliate against any punitive action, but analysts say that wielding its main weapon - oil production - could backfire, putting the prince's economic goals even further out of reach. Speaking to reporters following a meeting of her Christian Democratic Union (CDU) in Berlin, Chancellor Angela Merkel demanded urgent clarification on Khashoggi's killing.

Business Numbers Drawn for $476-Million Powerball Jackpot
Author: 0 Numbers Drawn for $476-Million Powerball Jackpot

The next Mega Millions drawing is Tuesday with the jackpot expected to exceed the USA record of $1.6 billion . On Tuesday, that would mean a total of almost $905 million - before taxes, according to the Mega Millions website. As more tickets sell before the draw on Tuesday, chances grow that at least one buyer will pick all six winning numbers. Again, the computer can do this for you if you don't want to choose your own numbers.

Business Migrant caravan: Mexico sends police to southern border
Author: 0 Migrant caravan: Mexico sends police to southern border

Military and CLOSE OUR SOUTHERN BORDER!" But that would probably enrage Trump , who appears to see Mexico's responsibility as stopping migrants from reaching the US border by any means. Mauro Verzzeletti, a priest who runs the Casa del Migrante shelter in the Guatemalan capital, said about 3,000 people slept there overnight and left around 4 a.m.to continue the journey, adding that "more are arriving".

Business Suspects in Saudi journalist case tied to top prince
Author: 0 Suspects in Saudi journalist case tied to top prince

But he's not confirming there is any such recording, as reported by Turkish media, and he's continuing to urge patience while Saudi Arabia says it's investigating. "Gardiner and others believe the Trump administration may likely bring limited economic sanctions only against those responsible for the suspected murder, similar to what happened to Turkey's Justice Minister in the detainment of Pastor Andrew Brunson.

Business SA expresses concern over missing Saudi journalist Jamal Khashoggi
Author: 0 SA expresses concern over missing Saudi journalist Jamal Khashoggi

Khashoggi, dismembered his body with a bone saw they had brought for the objective, and flew out the same day", reported the Times , without giving the names of the officials reportedly cited. The Saudi heir apparent wields considerable power in the kingdom and is being held responsible by many outside for whatever happened to Khashoggi. "We remain very troubled by the disappearance of prominent Saudi journalist Jamal Khashoggi ".

Business Jasper Kmart closing as Sears files bankruptcy
Author: 0 Jasper Kmart closing as Sears files bankruptcy

As of August, the 132-year-old company had 506 locations, including 482 full-line department stores, as well as 360 Kmart stores, according to a public filing. Sears, the iconic USA department store chain, has filed for bankruptcy as it struggles with $5.6bn (£4.3bn) of debt and the relentless march of online shopping.

Business Trump Says 'Rogue Killers' May Be Behind Jamal Khashoggi's Disappearance
Author: 0 Trump Says 'Rogue Killers' May Be Behind Jamal Khashoggi's Disappearance

Turkey said Erdogan "stressed forming a joint working group to probe the case". I am immediately sending our Secretary of State to meet with King!' Saudi Arabia has begun an internal investigation into the disappearance of a prominent journalist at its Istanbul consulate and could hold people accountable if the evidence warrants it, according to a Saudi official.

Business Sears, once a retail titan, files for Chapter 11 bankruptcy
Author: 0 Sears, once a retail titan, files for Chapter 11 bankruptcy

Negotiations over the fate of the fallen company have been continuing this week, as it faces a critical $134 million of debt that is maturing on October 15. Lampert, who is Sears's biggest shareholder and will remain as chairman, acknowledged in the statement that turnaround efforts so far have fallen short.

Business Rowe Price boosts stake on Tesla in vote of confidence for Musk
Author: 0 Rowe Price boosts stake on Tesla in vote of confidence for Musk

A federal judge is due to review the settlement on Thursday. Despite all of the drama surrounding Elon Musk's tussle with the SEC, and despite Tesla's early troubles ramping up Model 3 production, the company has slowly but steadily improved production across its entire vehicular lineup.

Business Trump says Fed is 'out of control'
Author: 0 Trump says Fed is 'out of control'

If Trump goes further and tries to remove Powell or otherwise influence Fed policy, it could cause him bigger problems. The second day he criticizes the Federal reserve system, calling it a policy of "aggressive" and solutions are " crazy ".

Business Pipeline explosion near Prince George
Author: 0 Pipeline explosion near Prince George

Hayes LNG plant on southern Vancouver Island by revaporizing the gas stored there for export and backfeeding it to from the Island to the Lower Mainland. FortisBC this morning reported that until the damaged 36-inch gas line is repaired, gas supply will continue to be constrained throughout the province.

Business China trade surplus with U.S. widens to record $34.1 billion
Author: 0 China trade surplus with U.S. widens to record $34.1 billion

Notably, the September surplus with the USA was bigger than China's overall trade surplus of $31.69 billion for the month. -China trade dispute. Pillsbury said this meeting presents a chance to squash the tit-for-tat tariff fight that the world's two biggest economies have been engaged in since July.

Business UK Chancellor: Brexit talks have become positive
Author: 0 UK Chancellor: Brexit talks have become positive

Wilson warned that any solution that resulted in checks on goods transiting between Northern Ireland and the rest of Britain, as outlined by European Union negotiator Barnier in a speech on Wednesday , would be "unacceptable". The government, which has warned of a no-deal Brexit, published more than 25 technical notices covering issues from consumer rights and sanctions policy to rail transport and taking horses overseas.

Business The IMF again downgrades outlook for the global economy
Author: 0 The IMF again downgrades outlook for the global economy

The IMF said a new data base in its semi-annual Fiscal Monitor report showed considerable net worth in 31 countries that account for 61 per cent of global economic output. But China's involvement could also bring potential risks, he said. The IMF, in its twice annual assessment of global financial stability, said conditions remain broadly conducive to economic growth, but are at risk of worsening should emerging markets deteriorate further or trade tensions escalate.

Business Tory rebels won't support Theresa May's Chequers Brexit plan, says MP
Author: 0 Tory rebels won't support Theresa May's Chequers Brexit plan, says MP

The plan would also involve keeping Northern Ireland in the single market to help maintain frictionless trade across the border with the Republic while mainland Britain would be outwith the single market. The Irish border has been a key sticking point in Brexit talks. It will follow another Whitehall meeting of the Joint Ministerial Committee, which will be attended by Mr Lidington and his colleagues Dominic Raab, the Brexit Secretary, and David Mundell, the Scottish Secretary.

Business Unemployment Drops to 3.7 Percent-Lowest Since 1969
Author: 0 Unemployment Drops to 3.7 Percent-Lowest Since 1969

The ultra-low jobless rate — the best in almost 49 years — reflects a healthy economy driven by strong consumer and business spending. Wall Street economists had expected an increase of about 168,000, according to MarketWatch. Wage growth, however, has not accelerated. The US Commerce Department also said August orders for non-defense capital goods excluding aircraft, which are seen as a measure of business spending plans, fell 0.9%.

Business More steps likely to cut current account deficit: Arun Jaitley
Author: 0 More steps likely to cut current account deficit: Arun Jaitley

Finally, after an unhindered rally of fuel prices , the government has announced a tax-cut to compensate for the increase in crude prices. Jaitley said the decision to give relief to consumers was necessitated by the uncertainty regarding the worldwide oil prices and was made possible by better-than-expected revenue collections.

Business India Introduces Fuel Relief On Rising Prices At The Pump
Author: 0 India Introduces Fuel Relief On Rising Prices At The Pump

This reduction in petrol prices was needed, as Maharashtra recently breached Rs 90 per litre mark, and speculations were rife that the price of petrol will soon touch Rs 100. However, the government had said that it had no role in the increasing prices of petrol and diesel. ► Jharkhand CM Raghubir Das said: The state government has also made a decision to give an additional relief of Rs 2.5/litre on diesel in the state.

Business Amazon bumps minimum wage to $15 an hour
Author: 0 Amazon bumps minimum wage to $15 an hour

More recently, Sen. Bernie Sanders , I-Vt., has lashed out at Amazon, saying the company does not pay a "living wage" and leaves some dependent on safety-net programs such as food stamps and Medicaid. Jeff Bezos is no stranger to criticism, but raising the minimum wage across the board for his organization quieted some of the nay-sayers. Most workers at Amazon's United Kingdom warehouses now receive £8 an hour, dependent on their location.

Business Mexico-Canada Agreement to Replace NAFTA after Last-Minute Deal
Author: 0 Mexico-Canada Agreement to Replace NAFTA after Last-Minute Deal

Trump had said he wanted to go ahead with a revamped NAFTA - with or without Canada . Canadian Prime Minister Justin Trudeau said he would continue to press for the lifting of the tariffs. It is also important that the agreement not hinder energy integration across North America, which has brought the continent closer to real energy security than ever in the past 50 years.

Business Justin Trudeau says Canadians are tough negotiators
Author: 0 Justin Trudeau says Canadians are tough negotiators

Mexican Senator Ricardo Monreal said on Twitter the text would be released simultaneously in Mexico and the United States. "That you can be sure of", Lopez Obrador told reporters in Mexico City. The U.S. president stayed seated as he extended his hand for a cursory handshake. Mr. Trump is using potential tariffs on all auto and auto parts imported into the U.S.as a negotiating hammer, not only with Canada but also with the E.U., Japan and other countries, Height Capital analyst Clayton ...

Business Elon Musk asks Tesla employees to ignore distractions
Author: 0 Elon Musk asks Tesla employees to ignore distractions

The Securities Exchange Commission, an integral branch of the US Government, is suing Elon Musk for issuing misleading Tweets which coerced investors into thinking he was taking his Tesla company private. And it could make parts suppliers skittish about doing business with the company. But Tesla devotees believe he is a visionary and vital to the company's future.

Author: 0 Canada PM says won't be rushed on NAFTA, new deal not guaranteed

Speaking at a news conference in New York, Trump also said he was planning to effectively terminate the North American Free Trade Agreement and impose steep tariffs on all automotive imports from Canada to the United States. "If we made a deal with Canada - which, you know, a good chance still, but I'm not making anything near what they want to do". That could end up hurting US auto companies that make cars in Canada and buy auto parts from Canada.

Business DeVere CEO predicts big things for Ripple XRP as usage soars
Author: 0 DeVere CEO predicts big things for Ripple XRP as usage soars

Ripple is built upon a distributed open source internet protocol, and supports tokens representing fiat currency, cryptocurrency , commodities, or other units of value such as frequent flier miles or mobile minutes.[3][4] Released in 2012, Ripple purports to enable "secure, instantly and almost free global financial transactions of any size".

Business Oil hits four-year high as OPEC, allies maintain supply cut
Author: 0 Oil hits four-year high as OPEC, allies maintain supply cut

Oil benchmark Brent traded little changed on Wednesday after rising to its highest in almost four years in the previous session, while U.S. crude futures fell as United States' officials tried to assure that the market would be well-supplied before sanctions are re-imposed on producer Iran .

Business ABC in turmoil: who said what on boss Michelle Guthrie's sacking
Author: 0 ABC in turmoil: who said what on boss Michelle Guthrie's sacking

News of Guthrie's departure was reported by The Australian before the decision had been communicated to ABC staff. - 'I've got to say, I'm perplexed. Anderson is now Director, Entertainment & Specialist and has worked in the media industry for more than 30 years. In an email to staff on Monday afternoon, Mr Anderson said he was honoured at the appointment.

Business Plane passengers bled from their noses, ears on Jet Airways flight
Author: 0 Plane passengers bled from their noses, ears on Jet Airways flight

It added that 144 of the original flight's passengers have been transported to Jaipur on a different flight, and 17 decided "to travel at another point in time ". The crew is being derostered. Facing strong financial headwinds, full-service carrier Jet Airways on Wednesday said it will be stopping free meals on its economy class from bookings done from September 25.

Business Oil cartel backs Iran in face of looming U.S. sanctions
Author: 0 Oil cartel backs Iran in face of looming U.S. sanctions

Russia , the world's largest oil producer, and other producers in OPEC have kept in place a supply agreement to maintain prices while at the same time providing enough oil to the market. Meanwhile, an industry report Tuesday showed USA crude stockpiles increased 1.25 million barrels last week, defying expectations for a decline ahead of government data Wednesday.

Business Chinese goods on USA radar, India braces for shockwave
Author: 0 Chinese goods on USA radar, India braces for shockwave

Beijing's statement came hours after Trump imposed 10 per cent tariffs on about US$200 billion (RM827.8 billion) worth of imports from China, and threatened duties on about $267 billion more if China hit back on the latest USA action. The government has already been ramping up spending on infrastructure. House Ways and Means Committee Chairman Kevin Brady said Trump is clearly increasing the pressure on China to come to the table and begin a new trading relationship that is fairer to the ...

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