Markets

Sanctions against Saudi would ‘rock the world’ says Saudi state owned press

Sanctions against Saudi would ‘rock the world’ says Saudi state owned press Khashoggi went missing when he visited the Saudi Consulate in Istanbul. The incident is threatening to spark a geopolitical crisis as the USA and Turkey demand answers from Saudi Arabia, and the kingdom vows to retaliate against any punitive measures imposed over the critic's fate. [Full Article...]

Sears To File For Bankruptcy, Several Stores To Close

Sears To File For Bankruptcy, Several Stores To Close So Sears, Roebuck, when I was growing up, was the big deal. Many of its most valuable properties have been sold off, with the other half leased and offering little cost savings from rent restructurings since Sears already pays below market rents. [Full Article...]

Turkey searches Saudi consulate as Trump speaks of 'rogue killers'

Turkey searches Saudi consulate as Trump speaks of 'rogue killers' The statement aired on Saudi Arabian state media came after the country's stock market plunged by almost 7 per cent at one point on Sunday. Jamie Dimon will not be attending "Davos in the desert". Turkey says an "inspection" of the consulate is expected to take place later on Monday, almost two weeks after Saudi journalist after Jamal Khashoggi disappeared there. [Full Article...]

Call 'em insane, but Fed officials likely to keep raising rates

Call 'em insane, but Fed officials likely to keep raising rates Trump's remarks, almost unprecedented for a US leader, may roil markets further in retreat on the heels of hefty tariffs imposed on aluminum and steel imports from much of the world, and about half of USA imports from China. The Fed's main interest rate, the federal funds rate, now stands between 2 and 2.25 per cent. Last month it indicated it may raise rates in December for the fourth time this y... [Full Article...]

Saudi vows to 'hit back' at sanctions over Khashoggi

Saudi vows to 'hit back' at sanctions over Khashoggi September 27, 2018. It is likely that they will take part in a joint working group on the case, whose creation was announced Thursday by Turkish presidential spokesman Ibrahim Kalin following a request by Saudi Arabia . Aldakhil added that Saudi arms purchases from the USA and other trade could be at risk as well. A group of 15 Saudi men is reported to have flown into Istanbul the day tha... [Full Article...]

No winning Mega Millions ticket in US, jackpot now $654 million

No winning Mega Millions ticket in US, jackpot now $654 million Maybe you'll want to get in line at this South Land Park store before Friday night for one of the largest payouts in the game's history. Need a lucky spot to get your Mega Millions ticket? An in-state Megabucks Doubler drawing will also take place tomorrow for an estimated $3.3 million in winnings. [Full Article...]

Musk denies James Murdoch taking over as Tesla’s Chairman

Musk denies James Murdoch taking over as Tesla’s Chairman Murdoch, who is a non-executive director of Tesla, had signaled he wants the job, the report said. Whoever it is, will find himself (or herself) in a position where they may just be called upon to act as a counterweight to Musk's excesses. The report also says external options are also being considered. Considering a broad choice of candidates was important, said Dieter Waizenegger, executive di... [Full Article...]

Pakistan to seek International Monetary Fund bailout to overcome financial crisis

Pakistan to seek International Monetary Fund bailout to overcome financial crisis The U.S. and China have imposed higher tariffs on tens of billions of dollars' worth of products the two countries have exported to each other, with no immediate end in sight to the tit-for-tat dispute. The near-term impact of a full-fledged trade war on growth in China will be almost double that of the United States, according to the IMF's estimates. [Full Article...]

Saudi team that targeted missing writer included royal guards, intelligence officers, soldiers

Saudi team that targeted missing writer included royal guards, intelligence officers, soldiers He warned that the Saudis could instead buy from Russian Federation or China. Trump also said that the White House would be meeting with Khashoggi's fiancee, though at the time , he referred to her as Khashoggi's "wife". Khashoggi". Several other USA lawmakers have also raised concerns, saying the U.S. should reevaluate its ties to Saudi Arabia in light of the journalist's case. [Full Article...]

United States considers sanction waivers on countries reducing imports of Iranian oil

United States considers sanction waivers on countries reducing imports of Iranian oil Pradhan admitted Monday he was not sure India would get a waiver. Delhi is hopeful that Saudi Arabia and other members of the Organization of Petroleum Exporting Countries will heed USA calls for production to be boosted by one million barrels per day, as promised in June, which might help bring benchmark prices down. [Full Article...]

Canada adds jobs in September, unemployment rate falls to 5.9%

Canada adds jobs in September, unemployment rate falls to 5.9% September job numbers reinforce the likelihood of an October interest rate hike by the Bank of Canada, and keep a firm foundation on further moves in 2019, Porter said. More people worked in construction, finance, insurance, real estate, rental and leasing public administration and agriculture, Statistics Canada said. [Full Article...]

Amazon Cuts Some Pay Incentives As It Raises Minimum Wage

Amazon Cuts Some Pay Incentives As It Raises Minimum Wage It remains to be seen whether Amazon's decision to do this generous act by raising the minimum wage will satisfy its critics, but surely this move is a step in the right direction for the company's workforce, which would undoubtedly be jealous of it all employees worldwide. [Full Article...]

UK's May tells party to drop dream of a 'perfect' Brexit

UK's May tells party to drop dream of a 'perfect' Brexit In an address created to rally her party behind her after a conference riven by differences over Brexit , she warned squabbling over the details of European Union withdrawal might mean "ending up with no Brexit at all". However, rather than accept responsibility for the Home Office blunder which saw thousands of the Windrush Generation, who helped rebuild Postwar Britain facing deportation, May... [Full Article...]

What the USMCA - The New NAFTA - Means For The Environment

What the USMCA - The New NAFTA - Means For The Environment Chevrolet Equinox SUVs are parked awaiting shipment by CN Rail next to the General Motors Co (GM) CAMI assembly plant in Ingersoll, Ontario, Canada October 13, 2017. Canada gave up some access to its dairy, egg and poultry industries but will keep its agricultural supply management system and avoid punishing auto tariffs under the new North American trade deal. [Full Article...]

Some more steps likely to narrow CAD, says Arun Jaitley

Some more steps likely to narrow CAD, says Arun Jaitley The price cut would be effective from midnight tonight. "First we will see the order then make a decision on petrol and diesel". But growing public anger over surging fuel prices has caught the attention of the government. However, opposition ruled states remained non-committal on reducing Value-Added Tax. BJP-ruled Gujarat, Tripura and Chhattisgarh governments have also announced a similar redu... [Full Article...]

Government Announces Relief On Fuel Prices By Reducing Excise Duty

Government Announces Relief On Fuel Prices By Reducing Excise Duty All the cuts will be effective from midnight, as clarified by Dr. Hasmukh Adhia, finance secretary. The Centre on Thursday reduced fuel prices by Rs 2.50 per litre with immediate effect. Following the Centre's appeal, several State governments including Tripura, Maharastra, Chhattisgarh, Jharkhand and Gujarat announced to provide give additional relief of Rs 2.50 per litre on petrol and diese... [Full Article...]

Oil near 4-yr high as Washington's Iran sanctions loom

Oil near 4-yr high as Washington's Iran sanctions loom WTI has risen around 18% since mid-August. Brent crude oil futures LCOc1 were trading at $83.04 per barrel at 0057 GMT, up 31 cents, or 0.4 percent, from their last close and near the $83.07 level reached during the last session - the highest since November 2014. [Full Article...]

Tesla Shares Soar After Elon Musk's SEC Settlement

Tesla Shares Soar After Elon Musk's SEC Settlement Tesla has recently navigated numerous resignations among senior staff and a now-settled lawsuit with the SEC over insider trading following CEO Elon Musk's Twitter-induced manipulation of the stock price. Under the agreement with the Securities and Exchange Commission (SEC ), Musk and the company each will pay a $20m penalty, and Musk will be barred from serving as chairperson for at least... [Full Article...]

MPs demand answer from Facebook boss over hack shock

MPs demand answer from Facebook boss over hack shock Facebook has informed law enforcement agencies in the United States about the hack and are now investigating it. Ireland's Data Protection Commission, which is Facebook's lead privacy regulator in Europe, said Saturday that it has demanded more information from the company about the nature and scale of the breach, including which European Union residents might be affected . [Full Article...]

GE unexpectedly removes its CEO

GE unexpectedly removes its CEO GE also announced its cash-flow and earnings per share would be less than previously indicated, because of problems at its GE Power division. GE Power's current goodwill balance is approximately $23 billion and the goodwill impairment charge is likely to constitute substantially all of this balance. [Full Article...]


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