Money

Global oil supply to swamp demand in 2019 despite output cuts: IEA

Global oil supply to swamp demand in 2019 despite output cuts: IEA Saudi Arabia's Energy Minister, Khalid al Falih, told the Financial Times that the kingdom would reduce production to about 9.8million bpd in March, down from a record high of 11.1million bpd in November. Oil prices rallied yesterday amid signs that the Organisation of Petroleum Exporting Countries (OPEC's) production cuts are taking hold. While US crude production is expected to grow by an am... [Full Article...]

Veterans Affairs Minister Jody Wilson-Raybould resigns from cabinet

Veterans Affairs Minister Jody Wilson-Raybould resigns from cabinet So with the government's legitimacy swaying in the balance, the whole country is waiting for Wilson-Raybould to finally tell her side of the story. Trudeau was elected four years ago with a progressive platform that included a promise to build a new nation-to-nation relationship between the government and Indigenous peoples. [Full Article...]

Amazon is pumping money into self-driving startup Aurora

Amazon is pumping money into self-driving startup Aurora Startup Aurora is a developer of full-stack self-driving software systems for automakers. Chris Urmson, the chief executive officer, was an early leader of the driverless vehicle project launched within Google that later became Waymo , now widely seen as the first robotaxi business to emerge. [Full Article...]

Amazon's Bezos accuses tabloid of blackmail

Amazon's Bezos accuses tabloid of blackmail In one of those emails, Fine proposed Bezos release a mutually agreed upon statement to a news outlet saying that he had no basis for suggesting AMI's coverage was politically motivated. A judge confirmed in a court filing on Thursday that federal prosecutors in NY were still investigating campaign finance crimes committed when Cohen paid two women to stay silent about alleged affairs with Trump... [Full Article...]

After a surprise rate cut, Shaktikanta Das promises more if inflation falls

After a surprise rate cut, Shaktikanta Das promises more if inflation falls The RBI has thus cut rate for the first time in 17 months since August 2017. The Reserve Bank lowered the policy rate by 25 bps to make the most of the space offered by the softening in prices, and will deliver more on the rate front if its lower inflation estimates are achieved, governor Shaktikanta Das said on Thursday. [Full Article...]

USA oil prices edge up as market eyes tighter supply

USA oil prices edge up as market eyes tighter supply Countering the rising USA crude output and inventories are voluntary supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) aimed at tightening the market and propping up prices. WTI futures have declined from a peak for this year of $55.26 per barrel on Friday. The Organization of the Petroleum Exporting Countries and its allies, including Russian Federation, agreed to ... [Full Article...]

"Special place in hell" for those who promoted Brexit - Tusk

As the news conference in Brussels was winding down, Varadkar was picked up by a hot mic telling Tusk: "They'll give you bad trouble, the British, for this". Tusk said the Irish border issue and the need to preserve the peace process remained the EU's "top priority". The Brexit chief for Northern Ireland's Democratic Unionist Party, Sammy Wilson, branded Tusk a "devilish, trident wielding,... [Full Article...]

US sends aid to Colombia-Venezuela border amid Maduro rejection of help

US sends aid to Colombia-Venezuela border amid Maduro rejection of help But a defiant Maduro maintains control of the military and calls the Guaido-led opposition a puppet of the United States, which he says is seeking to colonize Venezuela and exploit its vast oil resources. The aid squabble is now the latest front in the battle between Guaido and President Nicolas Maduro, who is vowing not to let the supplies enter the country. [Full Article...]

Crypto Company Founder dies with Passwords to Investors' $190m, says Wife

Crypto Company Founder dies with Passwords to Investors' $190m, says Wife The debt filing comes weeks after Robertson announced that Cotten had died - an event she described as "a shock to all of us". Users have been complaining about "withdrawal issues and a lack of communication" from QuadrigaCX for months, the publication reported . [Full Article...]

Trump guests include freed drug offender, bullied student

Trump guests include freed drug offender, bullied student His remarks will be followed by two responses: former Georgia gubernatorial candidate Stacey Abrams will deliver the Democratic response, and California Attorney General Xavier Becerra will give the Spanish-language remarks. "We'll be at 100". That means a "unity" speech would not be a simple declaration that the opposition party needs to come around to the president's way of thinking abou... [Full Article...]

US Economy Adds More Than 300000 Jobs During Shutdown

US Economy Adds More Than 300000 Jobs During Shutdown The numbers exclude farm work, which is seasonal and often volatile. January marks the 100th straight month of job growth in the USA, a record more than twice as long as the previous one of 48 months set in June 1990. The unemployment rate rose to 4.0% in January, but the BLS pointed out that rise from 3.9% was due to the government shutdown. While the month-long government shutdown didn't gre... [Full Article...]

Amazon’s surging revenue growth shows signs of slowing

Amazon’s surging revenue growth shows signs of slowing The forecast was on the low end of analyst expectations' of about $61 billion. He noted that Amazon has been gaining in the digital ad market as a result of its large customer base, developing a new revenue stream and taking away some market share from the leaders, Google and Facebook. [Full Article...]

Report saying joblessness reached 45-year high ‘not verified’: NITI Aayog

Report saying joblessness reached 45-year high ‘not verified’: NITI Aayog But he said the report was not final and would be released after a review. In 1972-73, the NSSO data showed unemployment at 5.18 percent, after global oil shocks and war with Pakistan . And critics say the government's claims of economic success have sounded increasingly hollow. He had mocked Modi for his plans for generating employment, saying instead of creating jobs, the PM talked about ... [Full Article...]

Alibaba's single-quarter revenue hits US$17.46 billion

Alibaba's single-quarter revenue hits US$17.46 billion That compares to consensus estimates from Thomson Reuters of $1.68 in EPS and $17.68 billion in revenue, as well as the $1.53 per share and $11.96 billion posted in the same period of a year ago. Alibaba's founder, Jack Ma, has previously described the China-US trade spat as the "most stupid thing in the world". Tsai also shrugged off concerns over the ongoing trade war between the USA and Chi... [Full Article...]

Russian companies may face risks in Venezuela

Russian companies may face risks in Venezuela Maduro said he is prepared to hold negotiations with the USA -backed opposition and added he would support early parliamentary elections , he made the remarks during an interview with RIA Novosti. "If the people in Venezuela want to continue to sell us oil , as long as the money goes into blocked accounts we will continue to take it". The court move came after United States national securit... [Full Article...]

Venezuela bars self-declared president Guaido from leaving country

Venezuela bars self-declared president Guaido from leaving country Though the opposition largely boycotted the 2018 presidential election last May-and they were criticized as fraudulent by some-Maduro won with more than 67 percent of the vote. While the USA has recognized president of the National Assembly, Juan Guaido , as "Interim President" of the country, Maduro said that while he believes new parliamentary elections should be held the next presidential elec... [Full Article...]

Venezuelan opposition leader Juan Guaido says he spoke with Trump

Venezuelan opposition leader Juan Guaido says he spoke with Trump Venezuela is gripped by raising political instability as US -backed opposition leader Juan Guaido presses to oust socialist President Nicolas Maduro. Both countries have lent billions of dollars to Venezuela and are concerned about new stress on debt payments. [Full Article...]

UK Parliament Votes on Theresa May's Amended Brexit Plan

UK Parliament Votes on Theresa May's Amended Brexit Plan Facing the prospect of another doomed vote in the British Parliament, she agreed on Tuesday to take her draft "Brexit" plan back to Brussels to try and get the Europeans to accept changes to a key provision on the Irish border. An official in Brussels said such a proposal would not work for the European Union , but it is not a foregone conclusion that lawmakers will back it, one of seven proposed... [Full Article...]

US charges Chinese telecom giant Huawei with fraud, stealing trade secrets

US charges Chinese telecom giant Huawei with fraud, stealing trade secrets The U.S. has been expected to announce charges against Huawei's CFO Meng Wanzhou since she was arrested in Vancouver in December by Canadian police. The U.S. reimposed sanctions against Iran in August 2018. He reaffirmed that the U.S.is seeking extradition of Meng and would formally file for the extradition by Tuesday, Canada's deadline. [Full Article...]

Trump Administration Hits Venezuela With Oil Sanctions

Trump Administration Hits Venezuela With Oil Sanctions In the interview with CNN Turk, Maduro accused the United States of mounting a coup attempt against him - a regular refrain - and insisted Guaido was "violating the constitution". Although he professed himself "open to dialogue", he acknowledged it was unlikely. The warning didn't address specific groups or individuals, but Bolton noted in a linked tweet that Cuba's "support and control over... [Full Article...]


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