Money

Oil prices stabilize, but supply glut concerns weigh on sentiment

Oil prices stabilize, but supply glut concerns weigh on sentiment EST (1845 GMT), putting it on track for its largest one-day percentage loss since January 2016. Tuesday on the New York Mercantile Exchange, crude oil dropped in price 7.1% down $4.24 to $55.69 a barrel. Spot prices in September were significantly higher than those for later delivery, a structure known as backwardation that implies a tight market as it is unattractive to put oil into storage... [Full Article...]

Amazon delivers news of HQs in NY and Washington DC

Amazon delivers news of HQs in NY and Washington DC Amazon said the finalist city will be home to a new Amazon office that will create 5,000 jobs, focused on customer delivery and supply chain. The world's largest online retailer has already been awarded more than US$1.6 billion of state and local public subsidies across the United States since 2000, with most of that after 2012, according to a database from the Washington-based government... [Full Article...]

Donald Trump ridicules France's Emmanuel Macron as relations sour

Donald Trump ridicules France's Emmanuel Macron as relations sour The French leader's office said Trump had lumped together Macron's remarks on protecting against cyber-threats and "interference in our democracies" from " China , Russia and even the United States " with Macron's later statement on military defence. [Full Article...]

Jeweler buys 'Pink Legacy' diamond for record $50 million: Christie's

Jeweler buys 'Pink Legacy' diamond for record $50 million: Christie's There were at least five people bidding by phone for the pink stone, but the winning bidder was a Harry Winston representative sitting in the front row, Curiel said. The previous record was reportedly established by a stone of more than 50 carats, which was sold at $2.1 million per carat. "Imagine a domino that you have cut the corners off of", Jean-Marc Lunel, an global jewellery specialist at ... [Full Article...]

Amazon picks NYC, Northern Virginia as sites for new headquarters

Amazon picks NYC, Northern Virginia as sites for new headquarters All three newspapers said Amazon refused to comment on the locations, but an official announcement is expected as soon as Tuesday. As Amazon's search dragged on, residents in numerous 20 finalist cities anxious about the effect such a massive project could have on housing and traffic, as well as what potential tax incentives could cost the community. [Full Article...]

Iran, its allies seeking way to defeat United States sanctions: VP

Iran, its allies seeking way to defeat United States sanctions: VP Iran was Korea's 20th-largest trade partner as of a year ago, with the trade volume between the two nations standing at around $12 billion, according to government data. Iranian oil exports have fallen by about a million barrels a day in that time, though India and China have continued to purchase it. The list includes 50 Iranian banks, 200 individuals and shipping vessels tied to Iran's sh... [Full Article...]

Key US midterm races to watch - and when to watch them

Key US midterm races to watch - and when to watch them Little of that was on display Monday as Trump spent his final hours on the trail in Ohio, Indiana and Missouri, where his rhetoric on illegal immigration turned harsh and he lobbed attacks at Democrats. "If you look back through the last 50 or 60 years of U.S. history, if you are an incumbent President, the chances are you will be re-elected and there is a strong pattern of the United States t... [Full Article...]

Trump Offers 'Softer Tone' After Midterm Elections

Trump Offers 'Softer Tone' After Midterm Elections FILE - A woman arrives at a polling station in Lark Community Center as early voting for midterm elections started, in McAllen, Texas, Oct. 22, 2018. Joe Donnelly on Sunday ahead of Tuesday's midterm elections, taking aim at the Trump administration for sending troops to the U.S. -Mexico border. "I think there will be no difference here". [Full Article...]

Uk is all set for its biggest ever Black Friday sale

Uk is all set for its biggest ever Black Friday sale There is no minimum purchase price. Starting on Monday, Amazon says it will remove that minimum order requirement on eligible items "for a limited time", without providing a specific end date for the promotion. This is on top of the unlimited FREE Two-Day Shipping that Prime members receive every day on more than 100 million items. Monday's news will pile pressure on Walmart and Target , wh... [Full Article...]

Apple sees revenue and profits rise but iPhone sales stall

Apple sees revenue and profits rise but iPhone sales stall It expects between $89 billion and $93 billion in revenue for its next quarter, whereas Wall Street expects $93 billion. Analysts were looking for US$92.7 billion, according to data compiled by Bloomberg . The company said iPhone revenue had grown by 29%, thanks to an increase in the average selling price of iPhones from $618 a year ago to $793. Meanwhile chief executive Tim Cook revealed t... [Full Article...]

U.S. adds robust 250,000 jobs; pay growth fastest since 2009

U.S. adds robust 250,000 jobs; pay growth fastest since 2009 Nominal average hourly earnings rose by 3.1 percent over the past 12 months. Wage growth could give businesses some leeway to raise prices, but workers' paychecks should continue to grow above the rate of inflation, said Dan North, chief economist at Euler Hermes North America. [Full Article...]

China stocks gain on trade war hopes

China stocks gain on trade war hopes Over the past 24 hours, the White House has sent a flurry of mixed messages about the status of trade talks with Beijingamid an ongoing tit-for-tat that started with Trump's decision to tax billions of dollars worth of Chinese imports. In their talks on Thursday night, Xi told Trump that the two sides had to come up with a proposal to settle the trade war , while Trump said the two men had a "l... [Full Article...]

Trump threatens to impose new tariffs on China

Trump threatens to impose new tariffs on China A new list of tariffs would be drawn up on the remaining $257 billion of goods not yet facing tariffs and after a 60-day public comment period, they would go into effect around the Chinese lunar new year holidays in early February. China's overnight repo rate surged the most in more than four years as authorities take steps to combat bets against the yuan, which held near the weakest level in a de... [Full Article...]

Budget 2018: Philip Hammond confirms pothole fix fund and fuel tax freeze

Budget 2018: Philip Hammond confirms pothole fix fund and fuel tax freeze Hammond criticised the slow progress the two organisations have made, calling it "painfully slow". During the Budget 2018 announcement at the House of Commons this afternoon, Chancellor Phillip Hammond said a global solution was needed to fairly tax large technology companies around the world, but an agreement was not happening quick enough. [Full Article...]

FBI conducting criminal probe into Tesla

FBI conducting criminal probe into Tesla The European launch of the Model 3 is expected in the first half of 2019. It fell far short, making just 793 in the last week and 2,700 for all of 2017. Previously, Tesla had received a voluntary request for documents from the Federal Bureau of Investigation. Earlier this month, a US judge approved Tesla and Musk's $40 million settlement with the Securities and Exchange Commission over a... [Full Article...]

Oil Falls on Oversupply Worries Despite Iran Sanctions

Oil Falls on Oversupply Worries Despite Iran Sanctions Referring to the significance of oil market stability he said , "Stability in world oil market is in favor of U.S. Any increase in oil market directly affect energy security in the U.S". US commercial crude oil stockpiles rose for a fifth consecutive week last week, increasing by 6.3 million barrels to 422.79 million barrels, the Energy Information Administration said on Wednesday. [Full Article...]

Minister says Khashoggi killers ‘will be prosecuted in Saudi Arabi’

Minister says Khashoggi killers ‘will be prosecuted in Saudi Arabi’ More than two dozen top officials and executives from the United States and Europe, including US Treasury Secretary Steven Mnuchin and chief executives of big banks, boycotted the investment conference over the killing of Khashoggi inside the Saudi consulate in Istanbul on October 2. [Full Article...]

IBM Is Buying Red Hat for $34 Billion in Blockbuster Software Deal

IBM Is Buying Red Hat for $34 Billion in Blockbuster Software Deal That's a 63 percent premium over Red Hat's closing price of $116.68 per share on Friday. "Powered by IBM, we can dramatically scale and accelerate what we are doing today", Red Hat president and CEO Jim Whitehurst wrote in an email to employees today. [Full Article...]

Gains Wiped Out: Dow Falls 608 Points as October Losses Mount

Gains Wiped Out: Dow Falls 608 Points as October Losses Mount Technology and consumer-focused companies accounted for much of the sell-off. Media and communications stocks, health care companies and banks also took heavy losses. Chip companies also sank following a disappointing forecast from Texas Instruments, which dropped 8.2 per cent. That's higher than what many economists had been projecting, but lower than the 4.2 percent rate of growth in the second ... [Full Article...]

World's billionaires saw ranks, wealth grow in 2017

World's billionaires saw ranks, wealth grow in 2017 According to UBS, this trend will continue to accelerate over the next 20 years, given that there are now 701 billionaires over the age of 70. But this is just the beginning. China's 36-richest people have lost 19 percent of their wealth, or $83.8 billion, so far this year, according to the Bloomberg Billionaires Index, more than any other country represented on the ranking of the world's 500 bigg... [Full Article...]


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