Money

Judge approves Elon Musk settlement with SEC

Judge approves Elon Musk settlement with SEC In addition, Musk must also step down as chairman of Tesla, although he will remain the company's CEO. Company founder Tesla and the Commission on securities and exchange Commission (SEC) entered into a pretrial agreement against inventor fraud charges. [Full Article...]

Mega Millions jackpot hits $868 million, second-largest in US history

Mega Millions jackpot hits $868 million, second-largest in US history No ticket matched the winning numbers (3-45-49-61-69-9). According to a release from Mega Millions, the last Mega Millions jackpot was won July 24, netting 11 co-workers a combined $543 million. The jackpot is the largest in the game's history, second largest overall. The Powerball jackpot up for grabs Wednesday night will be a cool $345 million, with a cash value of $199 million. [Full Article...]

Saudi consulate to be searched after Jamal Khashoggi's disappearance

Saudi consulate to be searched after Jamal Khashoggi's disappearance Under Son, SoftBank built its global influence through tech investments and raised over $93 billion a year ago to create its Vision Fund - with $45 billion coming from Saudi Arabia. The incident is threatening to spark a geopolitical crisis as the US and Turkey demand answers from Saudi Arabia, and the kingdom vows to retaliate against any punitive measures imposed over the critic's fate. [Full Article...]

UN Rights Official Calls For Impartial Probe Into Missing Journalist Case

UN Rights Official Calls For Impartial Probe Into Missing Journalist Case Other reports suggest Saudi Arabia may admit he died during a botched interrogation. In this photo from February 1, 2015, Saudi journalist Jamal Khashoggi speaks at a press conference in Manama, Bahrain. He offered his assessment after talks with the Saudi leadership and said the Crown Prince denied any knowledge of what happened to Khashoggi at the Saudi consulate in Istanbul. [Full Article...]

Moline Kmart will close as part of Sears bankruptcy

Moline Kmart will close as part of Sears bankruptcy Shares in Illinois-based Sears closed at about 41 cents on Friday, down from over $100 in the years after hedge-fund star Lampert, once hailed as another Warren Buffett, merged it with discount store Kmart in a $11 billion deal in 2005. A long series of store closings has left it with under 900 today. The company, known for refrigerators, washing machines, and other appliances, says that about 1 p... [Full Article...]

Saudi dissident believes Riyadh tapped calls with Khashoggi

Saudi dissident believes Riyadh tapped calls with Khashoggi No proof has emerged that he ever left the Saudi consulate, and despite the Saudis insisting that he did leave their building, they have offered no evidence that he did. Sens. Marco Rubio and Jeff Flake, members of the Foreign Relations Committee, have said Congress is prepared to move quickly and firmly if Trump fails to adequately respond to Khashoggi's disappearance. [Full Article...]

'The Fed has gone crazy' with interest rate hikes

'The Fed has gone crazy' with interest rate hikes Trump has levied or threatened tariffs on goods from economies around the world, notably China, but also on traditional allies such as the European Union. The picture has been further clouded by Trump's trade crackdown. "If you're going be anxious about a White House that was going to try to politicize the Fed, then you can think of other people that they might put there besides the people tha... [Full Article...]

Jamal Khashoggi murder claim seen giving Turkey leverage over Saudis and Trump

Jamal Khashoggi murder claim seen giving Turkey leverage over Saudis and Trump Western tech-industry officials have backed away from NEOM in the wake of Khashoggi's alleged killing. FILE PHOTO: Ford Executive Chairman Bill Ford poses next to a 1965 Ford Mustang GT during the 100 year celebration of the Ford River Rouge Complex in Dearborn, Michigan U.S. [Full Article...]

Mega Millions, Powerball jackpots worth over $860 million

Mega Millions, Powerball jackpots worth over $860 million The jackpot soared all the way to $654 million. A Mega Millions $548 million jackpot awaits lottery players when numbers are drawn for Friday night. The prize has been growing for 23 consecutive drawings since July 24. Since 2000, the store has sold three multi-million-dollar jackpot tickets, the owners said, as well as dozens more winners of $1,000 or more. [Full Article...]

Musk denies report James Murdoch poised to be Tesla chairperson

Musk denies report James Murdoch poised to be Tesla chairperson Musk explained in an email that being public, "s$3 ubjects Tesla to constant defamatory attacks by the short-selling community, resulting in great harm to our valuable brand". "It's no accident he oversaw that strategy, which was really distinct from the strategy other pay-TV companies followed, and in my view was his most valuable contribution". [Full Article...]

International Monetary Fund cuts Nigeria's growth projection to 1.9% - Strategy

International Monetary Fund cuts Nigeria's growth projection to 1.9% - Strategy The potential failure of Brexit negotiations and "unsettled" politics pose a risk to world economic growth, the International Monetary Fund (IMF) has warned. Ferretti said the three largest economies of Nigeria , South Africa and Angola are holding down the growth rate of the continent. "Overall, compared with six months ago, projected 2018-2019 growth in advanced economies is 0.1 percentage ... [Full Article...]

‘Please, President Trump, shed light on my fiancé’s disappearance’

‘Please, President Trump, shed light on my fiancé’s disappearance’ We have some incredible people and some incredible talent working on it. The case surrounding the missing Washington Post columnist who disappeared after entering a Saudi consulate in Istanbul, Turkey, raised more concerns in the USA after mounting evidence suggested he was murdered during the visit. [Full Article...]

Trump says Fed is 'out of control'

Trump says Fed is 'out of control' I think Fed has gone insane", he said. And Kudlow said the Fed was managing "the transition from ultra, ultra easy money.to something more normal", by raising rates gradually. The S&P 500 remained near the lowest since July on Thursday morning, while the Nasdaq 100 rallied. The sell-off came a day after the International Monetary Fund said the world economy is plateauing and cut its growth f... [Full Article...]

A Sears Bankruptcy Could Be a Win for Some Landlords

A Sears Bankruptcy Could Be a Win for Some Landlords Shares of Sears (SHLD.O ), an iconic American retail brand which traded above $100 a decade ago but have fallen to less than $1 in the past year, were down at 41 cents in trading before the bell. Sears had previously said there was "substantial doubt" the company would be able to stay in business and sustain as online sales and chains such as Walmart continue to take over the market. [Full Article...]

India defies US, buying Iranian oil despite sanctions

India defies US, buying Iranian oil despite sanctions However, the Trump administration this weekend announced it is considering waivers on sanctions for countries that are merely reducing their imports of Iranian oil. In the previous round of sanctions from 2012 to 2015, India continued to buy Iranian crude although it had to cut purchases significantly to protect its wider exposure to the US financial system. [Full Article...]

Jobless rate drops to 4.5 per cent in September in Capital region

Jobless rate drops to 4.5 per cent in September in Capital region Statistics Canada on Friday reported a gain of 63,300 jobs in September and said the jobless rate had edged down to 5.9 percent from 6.0 percent in August. September's youth unemployment rate stood at 11.0 per cent, up by 0.1 percentage points from the previous month. Numerous jobs were found in construction, up by 28,000 in September, reversing two previous monthly declines. [Full Article...]

Amazon’s $15 an hour a win? Not so, some veteran workers say

Amazon’s $15 an hour a win? Not so, some veteran workers say According to a survey of job postings, starting pay for such workers can be as low as $10 an hour or as high as $14. Sen. Bernie Sanders (I-VT) called on Amazon on Thursday to ensure that all of its hourly workers will receive a boost in compensation after the company drew criticism for slashing stock options and incentive-based pay even as it hiked its minimum wage to $15 per hour. [Full Article...]

Theresa May calls for cohesion over Brexit

Theresa May calls for cohesion over Brexit But did it succeed? However, she did not actually use the word Chequers in the hour-long address, prompting speculation the name itself has been quietly dropped as too toxic. A party not for the few, not even for the many, but for everyone who is willing to work hard and do their best. Britain's Prime Minister Theresa May dances to the stage to give a speech during the Conservative Party ann... [Full Article...]

Revamped NAFTA: Canada, US and Mexico reach new trade deal

Revamped NAFTA: Canada, US and Mexico reach new trade deal The unprecedented attacks on America's closest ally left a bitter taste. The deal is due to be signed by the leaders of the U.S., Canada and Mexico by end of next month, but at that point each country will still need to ratify it. The US has also been embroiled in a trade war on several fronts this year. "But its impact on the credit profile of firms reliant on the regional free trade agreemen... [Full Article...]

Judge orders Tesla’s Musk, SEC to justify fraud settlement

Judge orders Tesla’s Musk, SEC to justify fraud settlement However, Musk and the SEC settled the charges over the weekend, with Musk and Tesla agreeing to pay $20 million in fines each and Musk stepping down as Tesla's chairman for at least three years. The settlement still needs approval from the courts. The stock's decline follows a series of tweets from CEO Elon Musk on Thursday night. On September 27, the SEC had filed charges against ... [Full Article...]


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