Money

'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...]

Central government cuts fuel prices by Rs 2.50 a litre in India

Central government cuts fuel prices by Rs 2.50 a litre in India Diesel prices went up by almost 30 paise and petrol prices increased by nearly 20 paise. The fuel prices had been going up every day for last few weeks, burning a hole in people's pockets. Jaitley said it will be a test for those states whose leaders were only tweeting and indulging in lip sympathy. Jaitley attacked the opposition further asserting that non-BJP ruled states have not provide... [Full Article...]

Good news! Petrol prices slashed by Rs 2.50

Good news! Petrol prices slashed by Rs 2.50 The relief to consumers will be in three parts - centre will cut excise duty by Rs 1.5, and oil marketing companies (OMCs) will factor in Re 1 in their pricing, and states have been asked to cut Value-Added Tax as they have raked in windfall gains due to ad valorem nature of the levy that results in higher realisation whenever rates move up, the finance minister said . [Full Article...]

Tweet storm: Musk quits as chairman over false claims

Tweet storm: Musk quits as chairman over false claims The agreement with the US Securities and Exchange Commission will come as a relief to investors, who had feared a lengthy legal fight. The tweet caused Tesla's stock price to jump and, according to the SEC, "led to significant market disruption". [Full Article...]

50 million Facebook accounts hacked: All questions answered

50 million Facebook accounts hacked: All questions answered The hackers were also given complete access (as if they were you, effectively), and so could have accessed any part of your accounts. On the blog post , Guy Rosen, VP of Product Management, stated that the company has reset the access tokens of the nearly 50 million accounts which were affected to protect their security. [Full Article...]

GE CEO John Flannery steps down

GE CEO John Flannery steps down The company's power business, hit by problems with its latest generation of gas turbines, posted a $10 billion loss previous year. It is a privilege to be asked to lead this iconic company, ' Culp said in the company's statement . On Monday, the firm said it expected to write down $23bn in impairment charges on its power division. Flannery's departure from GE is driven by "slow pace of change" ... [Full Article...]

DOJ sues Calif. over new net neutrality bill

DOJ sues Calif. over new net neutrality bill Jerry Brown's decision to sign the bill into law has sent Trump into a spin. However, Attorney General Jeff Sessions quickly reiterated the federal government is the only authority that can rule on net neutrality policies. Ahead of Brown signing the bill, Trump-appointed Federal Communications Commission (FCC) chairman Ajit Pai slammed the California's net-neutrality effort as "a radi... [Full Article...]


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