Economy

Trump Tweets Trade Talks With Xi 'Moving Along Nicely'

Trump Tweets Trade Talks With Xi 'Moving Along Nicely' Still, investors cheered the resumption of dialogue and a report that Trump was taking steps to resolve the tariff war, with shares in Asia hitting three-week highs on today and the dollar softening. Trump said he also talked with Xi about "many subjects", including a "good discussion" on North Korea, where Trump is trying to negotiate an end to Pyongyang's nuclear weapons program. [Full Article...]

US grants 8 countries Iran sanctions waivers

US grants 8 countries Iran sanctions waivers Oil is also under pressure from rising output by the world's biggest producers, Russia, the USA and Saudi Arabia, which are helping to replenish global oil inventories after more than a year of stock draws. However, the waivers seem to be making the sanctions totally irrelevant, as the countries receiving them account for a lion's share of the oil Iran exports. [Full Article...]

USA cuts off exports to Chinese chipmaker

USA cuts off exports to Chinese chipmaker On Monday, the Commerce Department accused the supplier, Fujian Jinhua Integrated Circuit Co., of sourcing its chip technology from the United States and positioning itself to push out American suppliers of USA military systems. The company has invested $5.65 billion to build a factory in China devoted to producing memory chips. The world's top two economies are already waging a major tariff war... [Full Article...]

China Trade War Not Ending Soon

China Trade War Not Ending Soon Over the past year, said Cui, "we have heard enough of trade war threats, assertions about strategic rivalry, sabre rattling in the South China Sea, and even unfounded accusations against Chinese students and scholars". Australia's S&P-ASX 200 gained 1.3 percent to 5,805.10. Italy's FTSE MIB index rose 1.9% after Standard & Poor's did not downgrade its credit rating. [Full Article...]

US, Brent crudes fall, as concern deepens over global economy

US, Brent crudes fall, as concern deepens over global economy Brent crude oil futures had fallen 58 cents to $77.04 a barrel by 1423 GMT. The sanctions have triggered a black-market fueled by Iranian tankers - or "ghost ships" - that dismantle their vessel tracking systems, according to regional observers, making it extremely hard to estimate how much Iranian oil is on the market at any given moment. [Full Article...]

United Kingdom to levy 2pc digital services tax against tech giants from 2020

United Kingdom to levy 2pc digital services tax against tech giants from 2020 Scotland has control over income tax rates and bands and SNP Finance Secretary Derek Mackay has already indicated that he won't follow the cuts set out south of the border, insisting that Scotland will take a "fairer and progressive" approach. [Full Article...]

Ghana moves up six spots on 2019 World Bank Doing Business ranking

Ghana moves up six spots on 2019 World Bank Doing Business ranking This remarkable transformation has been the result of sustained efforts by a number of implementing departments, spanning central, state and municipal governments, to improve on their respective indicators. Observing that the two economies with the largest populations, China and India, demonstrated impressive reform agendas, the World Bank said India also focused on streamlining business processes... [Full Article...]

RBI responsible for NPA crisis, Jaitley makes spat more public

RBI responsible for NPA crisis, Jaitley makes spat more public The rift between India's central bank and the government has widened and could lead to the Reserve Bank of India (RBI) governor considering resignation, CNBC TV18 reported on Wednesday, citing sources. Government officials had recently called for the RBI to relax lending restrictions on some banks. Senior officials said the government fears the rift could tarnish the country's image among inve... [Full Article...]

Percent Growth Rate Shows Trump Agenda Working, Republicans Say

Percent Growth Rate Shows Trump Agenda Working, Republicans Say One factor stands out: Government spending is playing a major role in the current economic expansion. In Riccadonna's view, unless there are more tax or another change in fiscal policy, growth in the second and third quarter's appears to be boosted by a "sugar high" from tax cuts rather than creating a new path for economic growth. [Full Article...]

IBM buying North Carolina-based Red Hat in $34B deal

IBM buying North Carolina-based Red Hat in $34B deal In a deal sure to shake up the worlds of open-source software and cloud computing alike, IBM today announced a deal to acquire Red Hat Inc. for a stunning $34 billion . As Bloomberg reports, revenue at Red Hat is expected to top $3 billion this year, but its sales missed analyst expectations last quarter. This is the next chapter of the cloud. [Full Article...]

The world’s richest people made more money than ever before previous year

The world’s richest people made more money than ever before previous year China produced around two new billionaires a week past year as the fortunes of the world´s ultra-rich soared by a record amount, a report said Friday. "Two internet companies, Pinduoduo and Douyin, will be listed on the Nasdaq later this year, and the owners are already billionaires", said Francis Lun, the chief executive of investment services company Geo Securities. [Full Article...]

Oil prices drop as focus shifts to oversupply

Oil prices drop as focus shifts to oversupply The contract is on course for a weekly loss of almost 3 percent. Futures fell as much as 1.7% in NY on Friday, on pace for the longest spell of weekly declines since August. -China trade war, rising borrowing costs and bond yields, the rout in emerging market currencies, and even economic concerns in Italy . Saudi Energy Minister Khalid al-Falih said this week , according to Russian ne... [Full Article...]

Oil prices drop as focus shifts to oversupply

Oil prices drop as focus shifts to oversupply The contract is on course for a weekly loss of almost 3 percent. Futures fell as much as 1.7% in NY on Friday, on pace for the longest spell of weekly declines since August. -China trade war, rising borrowing costs and bond yields, the rout in emerging market currencies, and even economic concerns in Italy . Saudi Energy Minister Khalid al-Falih said this week , according to Russian ne... [Full Article...]

Tiny T-Cross sees VW enter subcompact crossover battle

Tiny T-Cross sees VW enter subcompact crossover battle The T-Cross shares the exterior design of the earlier open top T-Cross Breeze concept vehicle, albeit with a five-door fixed roof hatchback layout that Volkswagen says is aimed at providing maximum practicality within compact dimensions. The SUV also gets a 1.6-litre turbocharged diesel engine that produces 94bhp. Volkswagen hasn't detailed which transmissions will be available, though expect the ... [Full Article...]

Tesla Model X among '10 Least Reliable Cars' in Consumer Reports ranking

Tesla Model X among '10 Least Reliable Cars' in Consumer Reports ranking While the Tesla Model S appears very similar physically to the auto that launched six years ago, Tesla has made many significant mechanical and software changes over the past few years. "The suspension issues that some Model S customers experienced primarily in 2017 were due to a supplier-related issue that did not pose any threat to vehicle safety or drivability, and presented itself only when ... [Full Article...]

How man's broken hip led to him winning major lotto prize

How man's broken hip led to him winning major lotto prize Powerball lottery tickets are sold in 44 states, Washington D.C., Puerto Rico and the U.S. Virgin Islands. That's where his physician and nurse invited him to join their office lottery pool. "I still feel the same way", she said. "So they said, 'Why don't you go in with us?" "And then the staff came into the room and they were saying congratulations". [Full Article...]

Tesla delivers 'historic' $311m profit

Tesla delivers 'historic' $311m profit Analysts thought Tesla was in trouble earlier this year because the company had been burning nearly a billion dollars a quarter in late 2017 and early 2018. For months critics have been warning that cash flow problems threatened the company's survival. As of 9:58 on October 25, Tesla shares are up 9.38 percent at $315.56. [Full Article...]

Stocks Slammed! Dow Plunges More Than 600 Points

Stocks Slammed! Dow Plunges More Than 600 Points Semiconductor stocks were some of the worst performers following weak earnings news from AT&T and Texas Instruments. It too erased all of its gains for 2018. Two other giant USA companies, Amazon and Alphabet, will report their third-quarter results after the close of trading. Wall Street wiped out gains for the year overnight, as corporate-earnings season failed to calm nerves about rising rate... [Full Article...]

US announces penalties against Saudi Arabia for Khashoggi killing

US announces penalties against Saudi Arabia for Khashoggi killing Trump has reiterated that he views Saudi Arabia as a great ally and an important purchaser of US tanks, bombs and planes. Since becoming heir apparent past year, Prince Mohammed has won plaudits for reforms, including ending a decades-long ban on women drivers. [Full Article...]

Two Mega Millions tickets worth $1 million prize sold in MI

Two Mega Millions tickets worth $1 million prize sold in MI Simpsonville is a small city near Greenville in upstate SC with a population of about 22,000, according to the US Census Bureau. Seven others in the state won $10,000 apiece. "We are the proud seller of the only million dollar ticket picked in Wisconsin in last nights mega million drawing", said Kwik Strip Store Leader Scott Oomens. [Full Article...]


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