Markets

Mexico: Deadly blaze erupts at illegal fuel pipeline

Mexico: Deadly blaze erupts at illegal fuel pipeline Hidalgo Gov. Omar Fayad said there were "many people" burned. Fayad said that, two hours after the pipeline was punctured, "we were informed that there had been an explosion" and the flames "were consuming everything around". The government estimates that fuel theft cost the country more than $3 billion a year ago and has launched a major crackdown by temporarily closing several pipelines. [Full Article...]

Tesla recalls 14,000 Model S cars in China to replace faulty airbags

Tesla recalls 14,000 Model S cars in China to replace faulty airbags He said Tesla Inc. hopes to post a " tiny profit " in the current quarter but that after expanding its workforce by 30 per cent a year ago, it can not support that size of staff. As a result, Musk said, profits in Q4 were smaller than in Q3. So, not only is Tesla in a position where it needs to figure out how to make the Model 3 less expensive, it has to do so with a diminishing USA tax cred... [Full Article...]

China's modernized military could threaten Taiwan, U.S. report says

China's modernized military could threaten Taiwan, U.S. report says Amid increasing tensions with Beijing , the Pentagon on Tuesday released a new report that lays out USA concerns about China's growing military might, underscoring worries about a possible attack against Taiwan. In a January 2 speech, on the anniversary of a Chinese Communist Party (CCP) policy statement on cross-strait relations, Xi said "China must and will be united" with Taiwan. [Full Article...]

UK PM Theresa May survives no-confidence vote

UK PM Theresa May survives no-confidence vote Labour Party leader Jeremy Corbyn , whose support she will likely need, said he won't join talks over a new plan unless the possibility of a no-deal exit was out of the question. European leaders are now preparing for the worst, although German Chancellor Angela Merkel said there was still time for further talks. He told her that "the starting point for any talks about breaking the Brexit de... [Full Article...]

United States legislators introduce bills targeting Chinese tech companies

United States legislators introduce bills targeting Chinese tech companies T-Mobile claimed in its filing related to the civil suit, that Huawei employees started asking T-Mobile about "Tappy", with some of the questions related to proprietary technology used to create the robot. Huawei is the world's biggest producer of telecommunications equipment. While the company contested the lawsuit, it later conceded that its employees had acted improperly. [Full Article...]

Theresa May's Brexit deal suffers the largest Commons defeat in 95 years

Theresa May's Brexit deal suffers the largest Commons defeat in 95 years The SNP's Ian Blackford said the actions of May's government had " reinforced the case for Scotland to be an independent country " and that London " completely ignores the wishes " of the Scottish people who voted to remain within the EU. [Full Article...]

PG&E, utility tied to California wildfires, to file for bankruptcy

PG&E, utility tied to California wildfires, to file for bankruptcy PG&E's decision to replace its chief executive is likely meant to satisfy state regulators rather than investors, said Paul Patterson, an analyst who follows PG&E at Glenrock Associates LLC. "The Chapter 11 process allows us to work with these many constituents in one court-supervised forum to comprehensively address our potential liabilities and to implement appropriate changes". [Full Article...]

Joe Lieberman Lashes Back at Controversial Rep. Ocasio-Cortez

Joe Lieberman Lashes Back at Controversial Rep. Ocasio-Cortez Trump fielded bipartisan backlash after he initially condemned the violence "on many sides" without singling out white supremacists and neo-Nazis. Alexandria Ocasio-Cortez was added to the list of speakers at South by Southwest's (SXSW) 2019 conference. [Full Article...]

U.S. govt shutdown compromises Miami airport operations

U.S. govt shutdown compromises Miami airport operations But the impact of those absences on fliers and airport security has been hotly debated. Pre-check is funded by user fees so it is not affected by the shutdown. Jenniffer Gonzalez said Friday that the island still has not received $2.5 billion in funds even though more than a year has passed since Hurricane Maria hit Puerto Rico as a Category 4 storm. [Full Article...]

Powell Says Fed Is 'Waiting and Watching' With Patience on Rates

Powell Says Fed Is 'Waiting and Watching' With Patience on Rates During an interview at The Economic Club of Washington , D.C., Powell said that continued shutdown stopped some of the data feed that the Fed needed, making the outlook of US economy less clear, thus complicating policy-making. On Thursday, Powell said he hasn't seen anything to indicate that the risk of a recession is elevated. The S&P 500 is up over 10 per cent from a 20-month low it touched ... [Full Article...]

China protests U.S. warship as trade talks start

China protests U.S. warship as trade talks start While both sides have expressed an interest in settling the fight, China complained of a sighting of a US warship in what it said were Chinese waters. We have firm confidence in the strong long-term fundamentals of the Chinese economy". China's foreign ministry on Monday confirmed that Wang would deliver a keynote speech at Davos. [Full Article...]

Apple suppliers take a hit after iPhone sales slump warning

Apple suppliers take a hit after iPhone sales slump warning Cook blamed a number of issues, including lackluster iPhone sales , but also pointed to Trump's trade war with China. Sales of Apple's cheaper iPhone XR have also been a thorn in Apple's side since it hit stores in late October. [Full Article...]

Japan's sushi king pays record price for bluefin tuna

Japan's sushi king pays record price for bluefin tuna Kiyoshi Kimura often pays over the odds for his beloved and endangered fish, and it was no different at Tokyo's new fish market for the first auction of 2019. The previous site at Tsukiji opened in 1935 and became the world's biggest fish market and a popular tourist attraction. A single piece of "otoro", or the fish's fatty underbelly, can cost dozens of dollars at high-end Tokyo restaurant... [Full Article...]

RBI has reduced printing of Rs 2,000 notes to a minimum

RBI has reduced printing of Rs 2,000 notes to a minimum He claimed that the government had chose to reduce the printing of Rs 2,000 notes at the time of their launch itself. Soon after the sudden decision to ban old ₹500/₹1,000 currency notes by the government, the RBI had come out with the ₹2,000 currency note along with a new look ₹500 note as part of its massive remonetisation exercise. [Full Article...]

Tesla shares drop on disappointing quarterly performance

Tesla shares drop on disappointing quarterly performance Tesla disappointed investors Wednesday after announcing that it delivered 90,700 vehicles during the fourth quarter, more than 2,000 vehicles short of what Wall Street analysts expected . Production in Q4 grew to 86,555 vehicles, 8% more than our prior all-time high in Q3. Mr Hyett estimated that if Tesla continues to deliver cars at the same rate, the price cut will mean $700 million in lost... [Full Article...]

Cops grieve 'Krispy Kreme Doughnuts' lost in NYE truck fire: 'No words'

Lexington police were able to make light of the situation after everything was resolved, as they took to social media to show their displeasure over the loss of the truck. Authorities are still investigating what caused the fire. Police tell LEX 18 that there were donuts in the back of the truck and they have all been lost. [Full Article...]

Burbank Kmart To Shutter In Early 2019

Burbank Kmart To Shutter In Early 2019 The company released a list of the closing Sears and Kmart locations online and released the following statement. The Sears in Lincoln is located at 6400 O Street. At the time of the bankruptcy filing, Sears Holdings operated some 700 Sears and Kmart stores. The company's chairman Eddie Lampert has proposed a $4.6 billion hedge fund bid to buy Sears out of peril. [Full Article...]

Cyber-attack disrupts distribution of multiple US newspapers

Cyber-attack disrupts distribution of multiple US newspapers Tribune Publishing Co. newspapers across the country were also affected, including The Chicago Tribune , Baltimore Sun , Annapolis Capital-Gazette, Hartford Courant , New York Daily News , Orlando Sentinel and Fort Lauderdale Sun- Sentinel . [Full Article...]

Sears closing 80 stores in March, including Fostoria Kmart

Sears closing 80 stores in March, including Fostoria Kmart Sears is nearing a crucial deadline that could determine whether it survives. Sears has told a bankruptcy court it has received several bids. Lampert and ESL have been trying to buy the rest of Sears for up to $4.6 billion in cash and stock. [Full Article...]

USA trade delegation said to plan Beijing trip

USA trade delegation said to plan Beijing trip Chinese Ministry of Commerce spokesman Gao Feng confirmed that the two sides planned to sit down for talks next month, although he didn't provide a date for the meeting during his regular briefing in Beijing on Thursday. Visit MarketWatch.com for more information on this news. The two leaders also settled to continue their negotiations while the United States rescheduled it planned tariff increase... [Full Article...]


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