Markets

Stocks sell off as tech tumbles; dollar hits 16-month high - USA

Stocks sell off as tech tumbles; dollar hits 16-month high - USA This year, the dollar rose on expectations that the Federal Reserve would hike interest rates faster and by more than the its peers, but "recent trends in labor markets and wage growth outside the U.S.do not justify such benign monetary policy expectations", said Vasileios Gkionakis, global head of forex strategy at Banque Lombard Odier. [Full Article...]

Boeing Kept Pilots in the Dark About Hazards of 737 Model's Feature

Boeing Kept Pilots in the Dark About Hazards of 737 Model's Feature The first Boeing 737 MAX was delivered only in May 2017, and so not much was known about this aircraft, except what was published by Boeing for the pilots and airlines in its Flight Crew Operations Manual (FCOM) and Quick Reference Handbook (QRH). [Full Article...]

Pink Legacy diamond sets new world record

Pink Legacy diamond sets new world record An unusually large pink diamond sold for $50 million (about 50.4 million Swiss francs) Tuesday at Christie's auction house in Geneva . Christie's chairman for Europe, Francois Curiel, called the stone the "Leonardo da Vinci" of diamonds. [Full Article...]

Oil Crashes After Trump Says Prices Should Be 'Much Lower'

Oil Crashes After Trump Says Prices Should Be 'Much Lower' Stocks of oil marketing companies too gained in value as brent crude prices fell below $69 per barrel. US crude oil futures were getting hammered Tuesday, with West Texas Intermediate (WTI) crude oil down nearly 5 percent in afternoon trading. [Full Article...]

Oil production cuts under consideration

Oil production cuts under consideration Mr Yergin said: "It's the big three, it's Saudi Arabia, Russia and the U.S., this is a different configuration in the oil market than the traditional OPEC-non-OPEC one and so the world is having to adjust". In a final statement, they said they had "reviewed current oil supply and demand fundamentals and noted that 2019 prospects point to higher supply growth than global requirements". [Full Article...]

Binny Bansal steps down from Flipkart over 'personal misconduct' charge

Binny Bansal steps down from Flipkart over 'personal misconduct' charge The head of Walmart Inc's Indian venture Flipkart Group, Binny Bansal , has resigned following a probe into " serious personal misconduct ", a shock to the US retailer's efforts to compete with Amazon in India's huge consumer market. Walmart said it would continue to invest in the homegrown ecommerce company. A statement by Walmart , the American retail giant that acquired Flipkart earlier... [Full Article...]

More Evidence Emerges of Soft iPhone Sales

More Evidence Emerges of Soft iPhone Sales Then Lumentum Holdings Inc., a top maker of iPhone facial-recognition sensors, lowered its second-quarter outlook. "Apple got cautious in their guidance and it's hitting their suppliers", he continued. One factor that hasn't been discussed widely is that Apple's advertising campaign for the iPhone XR practically seems non-existent. But this Lumentum news is particularly damning because the firm ... [Full Article...]

Amazon chooses New York City neighborhood, DC suburb for HQ2

Amazon chooses New York City neighborhood, DC suburb for HQ2 It received applications from 238 candidate locations, which Amazon whittled down to 20 finalist cities by January 2018. The Post had reported recent discussions about placing an HQ2 location in Crystal City include how to move employees, specific buildings, and how to make the announcement. [Full Article...]

UFOs spotted off Irish coast under investigation

UFOs spotted off Irish coast under investigation Pilots flying over Ireland on Friday reported seeing an unidentified flying object, or possibly objects, spurring an investigation into the UFO (or UFOs) by the Irish Aviation Authority. "Meteor or another object making some kind of re-entry - multiple objects following the same sort of trajectory - very bright from where we were". [Full Article...]

Major oil producers foresee oversupply, edge closer to production cuts

The oil producers could agree (though Russian Federation doesn't want to) to reduce the output to somewhere between the May and October figure (say a cut of up to 1 million) - cutting all the way to May level may attract the wrath of Donald Trump. [Full Article...]

OPEC, Allies Closer to Oil Cuts as Bear Market Adds Urgency

OPEC, Allies Closer to Oil Cuts as Bear Market Adds Urgency But they can't force the United States to lower production so they are considering reversing their pledge to increase production. Now Saudi Arabia wants to act to prevent a further slide in prices which fell below $70 a barrel on Friday, and is leading discussions on cutting oil output next year, the sources said. [Full Article...]

Oil prices rise by 1% after Saudi announces December supply cut

Opec's de-facto leader Saudi Arabia meanwhile said it would draw back its exports for the month of December to the tune of 500,000 bpd as it anticipates lower winter demand. The slide also comes during signs of a softer-than-expected impact from USA sanctions on Iran oil exports. "We want to enter 2019 with a minimum amount of stocks", Falih said. [Full Article...]

Thank You Veterans: Deals & Free Meals On Veterans Day

Thank You Veterans: Deals & Free Meals On Veterans Day It's also offering a month's worth of K-Cup coffee pods to a dozen franchisees who have served the country and will surprise other military members with a coffee shipment as well. Applebee's will allow veterans and active military to select a free meal from a limited menu on Veterans Day. IHOP All active duty and retired Veterans are invited to come in and enjoy Free Red, White, & Blue Panc... [Full Article...]

Ford buys electric scooter sharing company Spin | Don't Miss This

Ford buys electric scooter sharing company Spin | Don't Miss This Ford sees the initial contact with cities on scooters as a way to form relationships with cities that could eventually turn into self-driving vehicle agreements. Spin quickly refashioned itself to become an e-scooter company by early 2018, pricing its scooters at $1 to unlock and 15 cents per minute for usage. [Full Article...]

China’s exports to US tick up as traders try to beat tariffs

China’s exports to US tick up as traders try to beat tariffs Analysts were expecting China's trade surplus to have widened to US$35 billion in October from September's US$31.69 billion. "We're hoping the meeting doesn't damage the trade relationship even further, as Trump once said that if trade talks fail, he could raise tariffs on all Chinese imported goods". [Full Article...]

FDA to Ban Most Flavored E-Cigarettes

FDA to Ban Most Flavored E-Cigarettes Plans for the new regulations were reported Thursday by the Washington Post . The agency also plans to add an age-verification requirement for online sales. The letters suggest that FDA might ban flavored e-liquids if insufficient steps to curb youth use are not taken. He also wants to ban menthol in regular cigarettes. [Full Article...]

British govt minister quits over Brexit, calls for new vote

British govt minister quits over Brexit, calls for new vote Mr Johnson's father, Stanley Johnson, told Channel 4 News: "I'm reminded of Tennyson's Charge Of The Light Brigade. Saying we have got to draw back from this cliff edge". "We've been hurtling towards a blindfolded Brexit for too long, so it's about time that politicians hand back control to the people of this country by giving them the final say on Brexit - with the option to stay and lead in Euro... [Full Article...]

SSE merger with Npower hangs in the balance as parties renegotiate terms

SSE merger with Npower hangs in the balance as parties renegotiate terms The development was denounced as a "shambles" by some industry analysts who forecasted it could throw the how deal into doubt. SSE agreed previous year to spin off its household supply arm and merge it with Npower , owned by Innogy, to form a new independent supplier that would be listed in London. [Full Article...]

WRAPUP 2-Fed holds interest rates steady, says economy remains on track

WRAPUP 2-Fed holds interest rates steady, says economy remains on track So far, tighter financial conditions resulting from the recent stock market selloff appear unlikely to change the Fed's plans. Economists nearly unanimously expect the fourth rate increase of the year in December but with a recent report showing wages finally beginning to rise they are watching for indications about the likely pace of rate hikes in 2019. [Full Article...]

Sears adds 40 stores to closures list, including Chicago's last

Sears adds 40 stores to closures list, including Chicago's last The adjacent Sears Auto Store also will be closing, the company said. The Fairbanks store joins a list of 142 closed down Sears and Kmart locations which were deemed unprofitable and shut down, in order for the company to survive in the process of Chapter 11 bankruptcy. [Full Article...]


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