Economy / 58

Federal Reserve Opts To Leave Interest Rates Unchanged

November 12, 2018

The benchmark federal funds rate remains in a range of 2 percent to 2.25 percent. They voted on Thursday to leave it there for now, again with all nine members of the rate-setting committee voting in favor. If Jerome Powell, the Fed's chairman, sounds calm about inflation, the markets will rally. "We may go past neutral, but we're a long way from neutral at this point, probably".

Falih: Saudi Arabia to cut December oil output by 500000 bpd

November 12, 2018

The Organization of the Petroleum Exporting Countries (OPEC), which is led by Saudi Arabia , agreed in June with a bloc of 10 petroleum-producing nations led by Russian Federation, to increase global supply by one million bpd. He said the committee were reviewing the market and would draw up a plan to deal with the prospect of higher supply in 2019. "If they fail to signal any intention to reverse the latest increase in production, oil prices threaten to slide further", the bank said in a ...

Special deals for veteran’s across East Texas

November 12, 2018

On November 11th we celebrate the service of USA military veterans. Golden Corral: Free dinner buffet with beverage from 5 to 9 p.m. on Monday to any person who is serving or has served in a USA military branch, including the National Guard and Reserves.

China exports shock regardless of US tariffs

November 12, 2018

Dollar-denominated imports meanwhile rose 21.4 percent from a year ago, topping an expected 14 percent. Economists and Chinese government officials said recently that they expected export growth to slow in the final months of the year. Chinese exports to the United States rose 13.2 per cent, but imports from the USA fell 1.8 per cent as the higher tariffs imposed by China have put off local importers.

US to restrict e-cigarette flavors to fight teenage vaping 'epidemic'

November 12, 2018

The Wall Street Journal first reported late Thursday night that the state Department of Health plans to soon republish regulations banning the sale or possession of flavored e-cigarettes. One of those companies, Juul, holds more than 70 percent of the e-cigarette market share overall, and has become overwhelmingly popular with minors. Altria (mo) has already said it will remove its MarkTen pod-based products and will stop selling all flavors except for menthol or tobacco in its products ...

Alibaba Singles’ Day in China smashes $25 billion sales record

November 11, 2018

Health supplements topped the list of most popular imported items purchased by consumers in China as of 12pm, followed by milk powder, facial masks and milk powder, according to Alibaba . It's expected to be the company's final November sale event with founder and chairman Jack Ma at the helm. The company had announced in September earlier this year that the current chief executive Daniel Zhang will take over as chairman next year.

Mazda3 Teased again, set for world debut at LA Auto Show

November 11, 2018

The 3 name was first used for the hatchback in 2003, with the last-generation vehicle first hitting showrooms in 2014. The Mazda3 has been around since 2003, with the upcoming model set to be the fourth-generation. A teaser photo accompanying the announcement suggests Mazda will reveal both the sedan and hatchback variants at the LA show, with a debut presumably scheduled for November 28.

No Proposal From Government Seeking RBI's Surplus Reserves: Top Official

November 11, 2018

The issue of RBI's capital needs may come up at the next board meeting on November 19. Once this is finalized, excess reserves could be transferred to the government, providing the latter with a fiscal cushion. The ongoing tussle between the Centre and RBI has handed ammunition to the Opposition. Former finance minister P. Chidambaram on Friday warned the NDA government against laying its hands on RBI reserves, saying it will have "catastrophic" economic consequences for the country.

Early Trading Shows Bitcoin Cash Hard Fork May Not Be Divisive

November 11, 2018

Bitcoin Cash (CURRENCY: BCH ) traded down 2% against the dollar during the one day period ending at 23:00 PM Eastern on October 17th. Backed by the likes of Jihan Wu (Co-Founder of cryptocurrency mining behemoth Bitmain ) and Roger Ver (cryptocurrency pioneer, one of the original founders of the Bitcoin Foundation, and somewhat controversially, CEO of Bitcoin.com), Bitcoin Cash gained a significant amount of steam and user adoption.

Bombardier cutting 5,000 jobs

November 11, 2018

In a conference call with investors this morning, John Di Bert , the chief financial officer of Bombardier said that the announced actions were created to show that the company's focus was on efforts to grow earning and cashflows saying: "We continue taking concrete actions to reshape Bombardier's portfolio".

Air hostess saves the day by offering to breastfeed passenger’s baby

November 11, 2018

Organo, was on the flight as the final check to be qualified as a Cabin Crew Evaluator, she wrote on Facebook . I breastfed a stranger's baby in flight, and I am just so thankful for the gift of a mother's milk at times of need. "I approached the mother and asked if everything was okay ..." In spite of her scheduled "check flight" that day, Organo's motherly instinct prevailed.

French government seizes Ryanair jet just before takeoff

November 10, 2018

The EU Commission in 2014 ruled that subsidies Ryanair received from a regional authority had to be repaid, but the airline had not complied despite repeated warnings. But aviation authority spokesman Eric Heraud said Ryanair had paid back the funds and the plane would be released. The passengers eventually took off five hours late on another Ryanair aircraft.

US Retailers already kicking off Black Friday with big deals

November 09, 2018

Walmart advertises the best iPhone Black Friday 2018 deal so far in the ad. "It is the biggest shopping and the best shopping day of the year", said Walmart's chief merchandising officer Steve Bratspies during a phone call with reporters.

Democrat Ahead in Arizona as Vote Counting Continues in Close Elections

November 09, 2018

He took to Twitter the morning after the split election outcome for the GOP to put Democrats on notice about their threats to investigate him and the administration. Tammy Baldwin and the state's Democratic governor, Tony Evers. "There's definitely a turnout benefit to talking to conservatives the way Trump has".

Mangled wreckage of BHP runaway train revealed in video footage

November 09, 2018

It was deliberately derailed at a set of points, operated by a control centre, about 119km from Port Hedland. MELBOURNE, Nov 7 (Reuters) - Mining giant BHP Billiton expects some interruption to its Australian iron ore exports after a almost 3-km-long train loaded with the commodity was forcibly derailed this week after running away en route to a key shipping hub.

The VW Tarok concept pays tribute to a forgotten hero

November 09, 2018

Volkswagen Tarok Concept looks quite ready for production and hence, it would be stretch for us to dub it as concept. Built ground up - according to VW - the Tarok is based on the same MQB platform as the new crop of Volkswagens including the T-Roc and smaller T-Cross .

Tesla names Robyn Denholm as Chairman to replace Elon Musk

November 08, 2018

Electric vehicle manufacturer Tesla said Robyn Denholm, now chief financial officer (CFO) at Australian telecom operator Telstra Corp Ltd, will replace Elon Musk as its chair. "I look forward to working even more closely with Robyn as we continue accelerating the advent of sustainable energy", Musk added. Musk and Tesla settled with the Securities and Exchange Commission (SEC) in September after the US agency sued for fraud.

Passengers refuse to fly with stinking durian cargo

November 08, 2018

A journalist from the Indonesia news agency Antara said arguments between some passengers and flight attendants nearly ended up in physical blows, according to the ABC . After passengers who had already boarded the plane chose to get off, the staff made a decision to acquiesce and unloaded the fruit, a process that delayed the flight by an hour but it landed safely in Jakarta.

USA exempts three Iranian nuclear sites from sanctions

November 08, 2018

Each of those countries has already demonstrated significant reductions of the purchase of Iranian crude over the past six months, and indeed two of those eight have already completely ended imports of Iranian crude and will not resume as long as the sanctions regime remains in place.

Supreme Court rejects net neutrality appeal - Newswatch

November 08, 2018

The US Supreme Court has declined to hear the broadband industry's challenge of Obama-era net neutrality rules. In this October 9, 2018 photo, police office guards the main entrance to the Supreme Court in Washington. The U.S. Supreme Court has decided not to review a challenge made by the telecom industry against the original rules for net neutrality that were decided on during the Obama-era.

GOP aims to keep Senate control, aided by Trump-friendly map

November 07, 2018

In Virginia's 7th District, a Republican-leaning area near Richmond, Republican Rep. Dave Brat was in a tight race with Democrat Abigail Spanberger, a former Central Intelligence Agency officer. However, Goodstein believes that the relative silence over the alleged links between Trump's 2016 campaign and Russian Federation will be broken again as soon as the Democrats take over the House.

'You're F*cked': Ex-Hillary Clinton Aide Berates Trump as Midterms Heat Up

November 07, 2018

But now the Democrats are harnessing military patriotism too. But there was very little grace and nothing incredible in a bitter campaign, the nadir of which came when several television networks declined to air a patently racist advertisement from the Trump campaign - approved by President Trump - a commercial so xenophobic that even Fox News , the President's cable channel of preference, refused to air it.

U.S. exempts three Iranian nuclear sites from sanctions

November 07, 2018

The diplomat suggested that countries were beginning to see through the frequent use of the Iranian threat by the U.S. and its allies in shaping Middle East policy. As reported Monday by the Financial Times , the EU has been preparing a "special objective vehicle" to safeguard that trade, but it's not yet ready.

The Trump referendum: Possible lessons from 2018 midterms

November 06, 2018

Tuesday is Democrats' last, best chance to stifle President Trump's agenda before he completes his first term. The Senate is a different matter. A scenario where the Republicans held the presidency and the two chambers of Congress only to lose the House in the midterm election has only happened twice - in 1910 and 1930.

Trump says election will be seen as referendum on him

November 06, 2018

The Republican Party is defending dozens of seats in largely suburban districts where Trump's popularity has languished and Democrats have performed well in presidential races. "You have to see the crimes they've committed". Millions have already cast their ballots in early voting that has surpassed records for midterms, with numbers boosted by the young and in some cases, first-time voters.

Amazon reportedly planning to split HQ2 between two cities

November 06, 2018

Retail giant Amazon Inc . is in "advanced talks" to open its second headquarters in the Washington, D.C., metropolitan area, The Washington Post reported Saturday. There has been recent conflicting reports on where Amazon will park it. This is a developing story - check back for additional details. After naming 20 finalist cities this January, Amazon plans to announce a victor city by year's end.

Amazon Offers Free Shipping for Everyone Until Christmas

November 05, 2018

The online retailer announced that starting today, November 5, all US-based Amazon customers can get free shipping with no minimum purchase amount. Amazon needs to pump up sales after the company's revenue projection for the rest of the year fell below some wall street analysts' estimates. Amazon's offer, which started Monday, applies to hundreds of millions of items and on orders that arrive in time for Christmas .

Lowe’s closing underperforming stores, including 1 in MA

November 05, 2018

It says most of the impacted stores will close by February 1, 2019. Twenty of the closings are in the United States, and California leads the way with four (San Jose, South San Francisco, Irvine, and Aliso Veijo). Last week, for instance, Lowe's hired Seemantini Godbole , Target's senior vice president of digital and marketing technology, as its new chief information officer.

Japan Airlines pilot admits being 10 times over alcohol limit

November 05, 2018

He was arrested just 50 minutes before he was scheduled to co-pilot Japan Airlines (JAL) flight JL44 to Tokyo after he failed a breathalyzer test. Jitsukawa admitted to the improper conduct at Uxbridge Magistrates' Court in west London on Thursday and will remain in custody until he is sentenced on November 29.

Mike Pompeo warns Russia, China over Iran sanctions

November 05, 2018

The United States officially reimposed all penalties that had been lifted as part of the Iranian nuclear deal as the Trump administration added almost 700 targets, including 50 Iranian financial institutions, to a sanctions list Monday.

Brexit: Dominic Raab demands backstop 'break clause'

November 05, 2018

His comments come after Brexit secretary Dominic Raab reportedly demanded that he be allowed to pull Britain out of the backstop arrangement after three months. It will also include an "exit clause" created to convince Brexiteers that remaining in the customs union is only temporary, the newspaper said. The Irish Government is opposed to any suggestion the backstop would have an "exit clause" as suggested in the " Sunday Times " report.

County Unemployment Rate Down In September

November 05, 2018

For the year, health care employment grew by 323,000. The country's jobless rate hit a near half-century low in September. The 3.0 percent unemployment rate for individuals with some college or an associate degree is the lowest it has been since July 2001.

At Least 2 Dead In Building Collapse At Amazon Warehouse In Baltimore

November 05, 2018

In a statement , Amazon said "severe weather" caused a wall to collapse at the facility in Dundalk. A storm rolled through the area bringing down the 50-foot wall and forcing those in the building to evacuate, according to NBC News . "First responders remain onsite assessing the damage". The safety of our employees and contractors is our top priority and we have safely evacuated the building.

Apple has just lost its $1 trillion company status

November 04, 2018

In August, the tech giant became the first $ 1 trillion publicly traded USA business, a milestone reached after it boosted revenue on higher-priced models such as the iPhone X . Some talking heads will say that this is because Apple's growth is slowing, but it seems that the company doesn't think unit sales are the best way to look at financial results.

Trump's Iran zero oil plan hits snag

November 04, 2018

He said those countries, which other officials said would include USA allies such as Turkey, Italy, India, Japan and South Korea, had made efforts to eliminate their imports but could not complete the task by Monday. Iran's top leader said on Saturday U.S. President Donald Trump's policies face opposition across the world as Washington prepared to reimpose sanctions on Iran's vital oil-exporting and financial sectors, state television reported .

Toronto may have lost out to Washington area for Amazon's HQ2

November 04, 2018

But after publication of the Post story, Mike Grella, director of economic development for Amazon, posted on Twitter: "Memo to the genius leaking info about Crystal City, VA as #HQ2 selection". In earlier tweets, Grella criticized another story in the Post - owned by Amazon founder and CEO Jeff Bezos - for speculating about the possible second headquarters location based on flight patterns of Bezos' jet.

Trump says 'I think we'll make a deal with China' on trade

November 04, 2018

The possible meeting between Xi and Trump in Buenos Aires is being broached amid growing trade tensions between the two countries after Washington imposed tariffs on tens of billions of dollars of Chinese imports and Beijing responded in kind against USA exports.

Elon Musk Doesn't Think Apple Is Making Happy Products Anymore

November 03, 2018

The Elon Musk-led company said in a filing Friday that thus far, no government agency in ongoing investigations has concluded that any wrongdoing occurred. "Should the government decide to pursue an enforcement action, there exists the possibility of a material adverse impact". Early past year the Palo Alto, California, company announced plans to produce up to 5,000 Model 3s a week by the end of 2017.

U.S. Employment Costs Rise More Than Forecast as Pay Jumps

November 03, 2018

Wages and salaries rose 0.9%, and benefit costs - which include health coverage, retirement benefits and paid leave - advanced 0.4%. That is the biggest increase - not adjusted for inflation - since the year that ended in September 2008, when wages rose 3.1 percent.

Facebook lost millions of users in Europe

November 03, 2018

Facebook reported better-than-expected third-quarter earnings per share on Tuesday. Facebook disclosed its vision for the future along with its quarterly financial results, which showed slowing growth in revenue and in the numbers of new users.

Trump Has Not Sought Draft China Trade Plan

November 03, 2018

The Hang Seng Index rose 4.2 percent, the biggest gain since 2011, and the Shanghai Composite Index climbed 2.7 percent, posting a fourth day of gains for its longest winning streak since February. They also agreed to meet on the sidelines of the Group of 20 summit meeting in Buenos Aires, Argentina, at the end of the month. "We are not on the cusp of a deal", Kudlow said.

Get a free Google Home Mini from Spotify for your family account

November 03, 2018

The big picture: Spotify turned in a much improved financial report for the third quarter but still isn't profitable. How about YouTube Music? The company cut its forecast for fourth-quarter gross margin by 50 basis points due to the Google Home partnership.

General Motors Offers Buyouts Just after Posting Massive Net Profit

November 03, 2018

Morrissey wouldn't say if GM will begin to lay employees off if too few workers take voluntary buyouts. Terms of the buyouts weren't released. GM has 18,000 salaried employees who have 12 years or more experience. The strong profit from GM's China joint venture came even with a budding tariff war with the USA and uncertainty over sales in the world's largest auto market.

India factory output growth hits four-month high in October

November 03, 2018

The overall level of positivity was at a 20-month low. A number above the 50.0 level indicates industry expansion while a number below is consistent with contraction. "New contracts increased at only a modest pace, and firms were the least optimistic regarding the 12-month outlook for almost six years". The sub-index measuring new orders fell to 55.5 from 57.3 in September, and 60.3 in August.

Brazil's New President-Elect Vows to Move the Country's Embassy to Jerusalem

November 03, 2018

The former army captain, who took a comfortable victory in Sunday's presidential election, will be sworn in on January 1. "As previously stated during our campaign, we intend to transfer the Brazilian Embassy from Tel-Aviv to Jerusalem", Bolsonaro wrote .

Subaru and Toyota Recall Over 400,000 Vehicles for Faulty Valve Springs

November 03, 2018

Toyota said its vehicles account for around 80,000 of the total. In the US, the carmaker is recalling about 25,000 Scion FR-S vehicles manufactured between March 2012 and July 2013. Individuals believed to be impacted by these recalls should begin receiving additional information in the mail starting in December. An NBC report listed the Subaru Impreza , Subaru Crosstrek, the Subaru BRZ, and the Scion FR-S.

Tesla hit with SEC subpoena over Model 3 production targets

November 03, 2018

When the Model 3 was launched in 2017, the company was optimistic about quickly ramping up production of the highly anticipated model. Tesla acknowledged in a quarterly regulatory filing on Thursday that it has received a subpoena from the SEC asking about the company's forecasts the company made in 2017 for Model 3 production.

Oil Prices Leap After 3 Days Of Sliding

November 03, 2018

In the previous week ending October 19, WTI and Brent lost 3.7 percent and 1.2 percent, respectively, and WTI and Brent settled at 69.12 US dollars and 79.78 dollars per barrel, respectively, at the end of the week. "It's a real risk off, and the same things that are bedeviling the equity market are bedeviling the crude market", he said. "Mounting perception of a weakening in global oil demand due to increasing tariff issues between the US and China, while extremely hard to measure, will be ...

Our country is going through a low point, PM Khan tells China

November 03, 2018

Yao Jing, China's ambassador to Pakistan, told reporters in Islamabad on October 27 that Pakistan is expected to receive good news from the visit. Though China is Pakistan's closest ally, Imran's newly elected government has sought to re-think the two countries' signature project, the $60 billion China-Pakistan Economic Corridor (CPEC), which Beijing touts as the flagship infrastructure program in its vast Belt and Road Initiative .

Japan airline apologizes for arrested drunk pilot

November 02, 2018

Tests found the 42-year-old first officer recorded 0.18 blood-alcohol reading, nearly 10 times the legal limit for a pilot and four times the amount for driving. According to NHK, the first pre-flight test did not detect alcohol on Jitsukawa's breath. In a statement JAL said: "The Company does not condone the individual's actions, as safety remains our utmost priority".

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