Economy

Trump avoided Trudeau a few times at the United Nations, official says

Trump avoided Trudeau a few times at the United Nations, official says But insiders - who requested anonymity given the sensitivity of the situation - say there is no alternative for Canada but to keep trying to settle the differences between the two nations and ignore mounting pressure from the USA administration. [Full Article...]

Stop meddling if you want cheap oil, Iran tells Trump

Stop meddling if you want cheap oil, Iran tells Trump Oil prices rose on Monday after OPEC signaled it won't rush to release more oil into the market, shrugging off pressure from Trump who has been calling on the group to do more to temper gains. Iran is the group's third-largest producer. Meanwhile, the Wall Street Journal, citing traders, has said that a combination of thinner supply from Iran and supply limitations in Saudi Arabia could d... [Full Article...]

After SEC moves to oust Musk, Tesla shares fall 12 percent

After SEC moves to oust Musk, Tesla shares fall 12 percent Tesla was off about 11 per cent at $273.60 following a bombshell announcement by the US Securities and Exchange Commission late Thursday that it was charging Musk for making "false and misleading" statements on Twitter on a now-aborted effort to take the electric auto maker private. [Full Article...]

China Engaged in Election Influence Operations to Undermine Trump

China Engaged in Election Influence Operations to Undermine Trump The Trump administration levied duties of 10 percent on $200 billion of Chinese products that include furniture and appliances, with the rate set to increase to 25 percent by the end of the year. There is extensive evidence linking Russian Federation to attempts to penetrate United States elections systems and to influence U.S. voters. The US's average applied MFN rate was 3.4% in 2017, and in gen... [Full Article...]

Facebook: 50 Million User Accounts Affected by Security Breach

Facebook: 50 Million User Accounts Affected by Security Breach The company said that it doesn't yet know whether the breach was used by anyone to access information from those 50 million Facebook users without their knowledge. In total, approximately 90 million people will need to log in again on the site or on any site-related apps. Facebook CEO Mark Zuckerberg told the Associated Press the company doesn't know yet whether hackers who exploited the... [Full Article...]

Elon Musk Is Having a Very Bad Week. So Are Tesla Investors

That chain of events led to the SEC announcing on Thursday that it was suing Musk on charges he made "false and misleading statements" in tweets claiming he could take the company private. Musk's out-of-the-blue move apparently blindsided Tesla's chief financial officer, Deepak Ahuja, forcing him to scramble to minimize the havoc that he immediately recognized had been wrought by his CEO. [Full Article...]

Oil prices edge up amid uncertainty over fallout from Iran sanctions

He called on other nations not to rely on OPEC, lamenting the dependence Germany has on Russian Federation. According to Mr. Jaeggi, "We're on the verge of some significant volatility in Q4 2018 because depending on the severity and duration of the Iranian sanctions, the market simply does not have an adequate supply response for a 2 million barrel a day disappearance of oil from the markets".... [Full Article...]

Tesla constructing own auto transporters to help conveyances: Musk

Tesla constructing own auto transporters to help conveyances: Musk Earlier this month, Musk acknowledged that the company was facing more logistical problems now than production delays. With this, the company sends cars to the delivery centres but also delivers them directly to a customer's doorstep. A follower of Musk in the aforementioned social media platform had inquired earlier about his order of a Model 3 All Wheel Drive (AWD) which he reportedly placed bac... [Full Article...]

Federal Reserve raises rates and says pace of increases will accelerate

Federal Reserve raises rates and says pace of increases will accelerate Even as Trump complains, the Fed is moving more slowly to raise interest rates than it has in previous economic expansions. The policy meeting also marked the removal of the phrase "the stance of monetary policy remains accommodative" from the Fed's statement . [Full Article...]

Unhappy with NAFTA talks, Trump rejects to meet Canada's Trudeau

A spokesman for Canadian Foreign Minister Chrystia Freeland brushed off the latest remarks from the United States, saying Canada was not interested in focusing on timelines. Mexico and the USA sealed a new trade deal after the threat of sanctions forced both sides into an agreement. The White House wants this trade deal to replace NAFTA, though it's unclear if it is legally possible to replace ... [Full Article...]

Fox sells Sky stake to Comcast in $15-billion deal

Fox sells Sky stake to Comcast in $15-billion deal The move lets Fox focus on another megadeal underway: The majority of the company will be sold to Walt Disney Co .in a $US71 billion ($98 billion) transaction that's slated to close next year. The remainder of Sky's shareholders have until 11 October to sell their holdings to Comcast. The company, led by executive chairman Rupert Murdoch, said it was proud of its role in building Sky. [Full Article...]

Saudi Arabia in short-term oil fix, fears extra USA supply next year

It is Trump and not OPEC that is to blame for the rise in oil prices, according to Iran. The US President has repeatedly blamed OPEC for high oil prices, to which the organization replied that it has no power to control crude prices. The sanctions are expected to have an immediate impact on exports from Opec's third largest producer. This hike might take place for the first time since the year 2... [Full Article...]

Wall Street dips after Federal Reserve raises rates

Wall Street dips after Federal Reserve raises rates The target federal funds rate is now between 2 and 2.25 percent. Those show that the Fed's policymakers think it will raise rates five more times by the end of 2020, which bring rates up to a range of 3.25 to 4.25 percent. Wednesday's rate increase once again drew criticism from President Donald Trump , who has complained that the Fed's actions are countering his efforts to boost the economy. [Full Article...]

Trump says he rejected meeting with Canada's Trudeau

Trump says he rejected meeting with Canada's Trudeau The attack cast further doubt on the future of the three-nation North American Free Trade Agreement, which underpins $1.2tn in annual trade between Canada, Mexico and the United States. The president said it would be called "USM", for the US and Mexico, instead of "USMC", and offered blunt criticism of the Canadian team engaged in the talks. [Full Article...]

Canada NAFTA fight set to run past latest deadline

The Trade Representative is supposed to meet with Canadian Foreign Minister Chrystia Freeland sometime during the United Nations General Assembly meeting in NY, but an unnamed senior administration official said that chances of a last-minute deal are slim. [Full Article...]

Israel hardliners back Trump following anti-Iran UN speech

Without naming them, Trump went on to demand that the Arab Gulf states pay for USA military protection - the same case he's made with Europe and North Atlantic Treaty Organisation. The United States will apply sanctions to halt oil exports from Iran, the third-largest producer in OPEC, starting on November 4. Although OPEC and allies stopped short of pledging an immediate production boost earlie... [Full Article...]

Michael Kors Reaches Deal to Buy Italian Fashion House Versace

Michael Kors Reaches Deal to Buy Italian Fashion House Versace Versace is the latest Made-in-Italy name to be snapped up by a foreign company. Jennifer Lopez in custom Versace at 2018 VMAs. Gucci is the biggest brand in Kering , which also Bottega Veneta and menswear brand Brioni. Santo now holds a 30 percent stake and Allegra, 50 percent. "For over 40 years, Versace has represented the epitome of Italian fashion luxury, a testament to the brand's t... [Full Article...]

UK's Raab says confident of clinching a Brexit deal - global

UK's Raab says confident of clinching a Brexit deal - global Senior Conservative Brexiteers are piling pressure on her to ditch the proposal in favour of a Canada-style deal, as advised by the Institute for Economic Affairs (IEA). 'So, we are going to hold our nerve, but continue to negotiate in good faith'. If you deliver a deal that includes a customs union and no hard border in Ireland, if you protect jobs, people's rights at work and environmental and ... [Full Article...]

Oil price jumps as Opec keeps output steady

Oil price jumps as Opec keeps output steady Focus turns on release of US API crude stocks report later today and EIA US crude inventories on Wednesday, for fresh signals, as the latest report showed US oil Inventories at record lows and further boosted oil prices . In June this year, however, after months of cutting by more than their pact had called for, largely due to involuntary reductions from Venezuela and other producers, they agre... [Full Article...]

'Didn't expect that reaction': Trump gets laughs during UN speech

'Didn't expect that reaction': Trump gets laughs during UN speech He also emphasized that the United States does not support the International Criminal Court which has been looking into investigating USA military members who served in Afghanistan for alleged war crimes. The two leaders are trying to arrange a second summit. Mr Trump said going forward "we are only going to give foreign aid to those who respect us and, frankly, are our friends". [Full Article...]


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