Money

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...]

Tesla's Musk Says Company Focusing on What's Next

Tesla's Musk Says Company Focusing on What's Next A Tesla spokesperson confirmed the company had received a "voluntary request" earlier this year from the US Department of Justice about its "public guidance for the Model 3 ramp" and cooperated with the request. Tesla ended September with $2.9 billion in cash, up from $2.2 billion in June. "Q3 2018 was a truly historic quarter for Tesla ", the company's letter to shareholders reads in part... [Full Article...]

Oil prices up as USA fuel stocks draw sparks rebound

Oil prices up as USA fuel stocks draw sparks rebound Saudi Foreign Minister Adel al-Jubeir told Fox News on Sunday that the killing of Washington Post columnist Jamal Khashoggi inside the Saudi consulate in Istanbul was a "huge and grave mistake" and vowed that those responsible would be punished. [Full Article...]

Former President Obama Holds Rally in Las Vegas

Former President Obama Holds Rally in Las Vegas Campaigning for Nevada Senate candidate Jacky Rosen, Obama told the crowd to "remember who started" the trends of economic growth and job creation his successor is touting. "I think you should like, actually say to people what's true", he added with a smile. Republicans, he said, handed out $1.5 trillion in tax cuts "for folks who are already sitting pretty". [Full Article...]

South Carolina adds 2nd billionaire with huge jackpot ticket

South Carolina adds 2nd billionaire with huge jackpot ticket The odds of winning a prize are 1 in 24, according to the Mega Millions website. Idaho had five winning tickets that were only one number away from sharing in the jackpot prize. There were more than 15.7 million winning tickets across the game's nine prize tiers in Tuesday's drawing . A lottery victor who elects to receive annual payments over the lump sum still runs the risk of spending mo... [Full Article...]

Erdogan says Saudi team arrived day before Khashoggi's killing, consulate cameras removed

Erdogan says Saudi team arrived day before Khashoggi's killing, consulate cameras removed Mr Khashoggi died during a routine visit to the Saudi consulate in Istanbul, Turkey , on October 2. In a separate interview with the Wall Street Journal published late on Tuesday, Mr Trump addressed the possible involvement of senior Saudi royals in the killing and said he did not believe King Salman had prior knowledge of the crime. [Full Article...]

S&P and Dow erase gains for the year

S&P and Dow erase gains for the year The S&P 500 lost 84.59 points, or 3.1 percent, to 2,656.10. Banks, health care and industrial companies also took heavy losses, outweighing gains by utilities and other high-dividend stocks. 3M Co. plunged 6.8 percent after third-quarter profits missed expectations and the company cut its full-year earnings forecast. Investors also have been unnerved by comments from industrial companies say... [Full Article...]

U.S. gripped by 1 in 302m chance of winning the lottery

U.S. gripped by 1 in 302m chance of winning the lottery A $1 million Powerball ticket was bought in New Jersey and four other tickets were sold, worth $250,000 total, as NJ.com reported . At the same time , the Powerball jackpot has climbed to $ 620 million . North Dakota sold more than $27 million in lottery tickets during 2017. But that $1.586 billion prize - payable in annual installments over 30 years - came with an up-front cash op... [Full Article...]

Saudi king, crown prince condole with Khashoggi's family and relatives

Saudi king, crown prince condole with Khashoggi's family and relatives Saudi Foreign Minister Adel Al-Jubeir said on Sunday that King Salman is determined to hold to account those responsible in the case regarding Khashoggi . Khashoggi, who was a US resident and a critic of Saudi policy, entered the consulate on October 2. Lester, the MIT provost, also told faculty, "As we consider how to respond to current events, individual faculty members who have or are consid... [Full Article...]

Elon Musk: Boring Company’s First Tunnel To Open On December 10

Elon Musk: Boring Company’s First Tunnel To Open On December 10 Elon Musk announced on his Twitter page the launch date of his high-speed underground tunnel transportation system - the event is said to be followed up by a day of free rides for the public. Elon Musk, the CEO of Tesla and SpaceX , tweeted on Sunday that his Boring Company, which aims to lower the cost of building high-speed transit tunnels, had nearly completed its first tunnel. [Full Article...]

East TN Powerball player wins $2 million, jackpot rises to $620 million

East TN Powerball player wins $2 million, jackpot rises to $620 million There are smaller prizes, from $2 up to $1 million, for matching some, but not all, numbers. The next Mega Millions drawing is at 11 p.m. Tuesday and the next Powerball drawing is at 11 p.m. Each Powerball ticket is $2. Mega Millions officials say no tickets matched all six numbers to claim the estimated $1 billion grand prize in Friday night's drawing. [Full Article...]

Turkish Investigators Revisit Saudi Consulate as Pompeo Prepares to Brief Trump

Turkish Investigators Revisit Saudi Consulate as Pompeo Prepares to Brief Trump Turkish officials say they believe Khashoggi - a U.S. resident and Washington Post columnist critical of Crown Prince Mohammed bin Salman - was murdered at the Saudi consulate in Istanbul on October 2 and his body removed. An IMF spokesman said she had postponed her planned trip to the Middle East with a stop in Saudi Arabia. Attiah said the article, titled "What the Arab world needs most ... [Full Article...]

Jamal Khashoggi disappearance: Saudi crown prince 'denies involvement'

Jamal Khashoggi disappearance: Saudi crown prince 'denies involvement' He told the AP news agency that Riyadh was being treated as "guilty until proven innocent". I don't like that. Many members of the US Congress, which has long had a testy relationship with Saudi Arabia, have issued strong criticism of the kingdom over the case. [Full Article...]


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