Business


Oil Prices Reach Four-Year High After Producers Decline To Raise Output Oil Prices Reach Four-Year High After Producers Decline To Raise Output
- September 26, 2018

With upside momentum picking up, we expect to hear more criticism from President Trump, but other than some light profit-taking, his comments are not likely to have much of an effect on the price action. Saudi energy minister Khalid al-Falih said he did "not influence prices" and that increased oil output wasn't necessary, at a meeting in Algeria on Sunday. (more...)
No UK cabinet minister challenged May over Brexit - Sun No UK cabinet minister challenged May over Brexit - Sun
- September 26, 2018

At the same time, hardline Brexiteers and Tory rebels met to discuss an alternative plan for leaving the EU. Senior Conservative Brexiteers are piling pressure on her to ditch the proposal in favour of a Canada-style deal, as advised by the Institute for Economic Affairs (IEA). (more...)
Trump on Kim: What a difference a year makes Trump on Kim: What a difference a year makes
- September 26, 2018

Members of the United Nations General Assembly (UNGA) laughed at US President Donald Trump after he claimed that his administration "accomplished more than nearly any ... After his not-so-humblebrag, Trump's speech pivoted to world issues. Trump is expected to address the US's posture on trade - including toward China - and defend the tariff actions he has taken with increasing verve over the a year ago. (more...)
Iran tankers turn off trackers as U.S
- September 26, 2018

Addressing world leaders at the start of the annual United Nations General Assembly, Trump lashed out at the OPEC oil cartel, China's trade policies and the International Criminal Court which he vowed the United States would never accept. (more...)
Gemini exchange looks to expand into the UK Gemini exchange looks to expand into the UK
- September 26, 2018

For many years, the crypto exchange market of Europe has lagged behind the US, Japan , and South Korea in terms of infrastructure, regulation, security, and liquidity. Gemini will also have to file for an e-money license with the FCA in the weeks to come. This license has authorized the Crypto exchange to operate a payment and electronic money service platform not only in the United Kingdom but in other countries within the European Union as well. (more...)
Boris Johnson backs report slamming May’s Chequers plan
- September 26, 2018

In an interview with the Mirror, leader Jeremy Corbyn said the government must hold an election if it can't deliver Brexit , which is looking more likely following May's failure to win over European Union leaders last week in Salzburg. Britain's former Foreign Secretary Boris Johnson continues to give Theresa May grief over Brexit. However, amid the increasingly personal battle between Mr Davis and Mrs May, the prime minister... (more...)
Schoolgirl with allergy suffers fatal reaction to Pret baguette Schoolgirl with allergy suffers fatal reaction to Pret baguette
- September 26, 2018

Her father administered two EpiPen shots to her legs on the plane but she went into cardiac arrest and died later that day in a hospital in Nice. A spokesperson for Pret said: "We were deeply saddened to hear about Natasha's tragic death, and our heartfelt thoughts are with her family and friends". (more...)
What are Labour’s six tests for Brexit? The full list What are Labour’s six tests for Brexit? The full list
- September 26, 2018

Her delegation plans to vote in favour of a conference motion on Tuesday supporting "all options remaining on the table", including the possibility of a second referendum on Brexit. Her spokesman said later that May was specifically referring to the type of deal the European Union is now offering on future trade, which Britain believes will split England, Wales and Scotland from Northern Ireland by insisting Northern Ireland adhere to different customs rules. (more...)
Delta flight makes emergency landing after passenger headbutts flight attendant Delta flight makes emergency landing after passenger headbutts flight attendant
- September 26, 2018

Early Friday, Derek Maas, a passenger on a Delta Airlines flight from Orlando to Salt Lake City, was arrested in Oklahoma City. Officers interviewed a flight attendant who was on board, who said when Maas arrived for the flight he could tell from his behavior that he was intoxicated, but did not think the man to be risky. (more...)
Lighthizer hints Mexico pact may need to be reopened if delayed — NAFTA
- September 25, 2018

Trump told the United Nations in NY. "America is governed by Americans". Lighthizer said that there "is still a fair amount of distance between" the US and Canada. "There's still a fair amount of distance between us". Prime Minister Justin Trudeau spoke before Lighthizer at an event hosted by the Council on Foreign Relations in NY and took a more cautious tone about the outcome. (more...)
Canada's PM sees possibility to build on U.S.-Mexico NAFTA deal
- September 25, 2018

U.S. President Donald Trump sits behind his desk as he announces a bilateral trade agreement with Mexico to replace the North American Free Trade Agreement (NAFTA) at the White House in Washington, U.S., August 27, 2018. USA business groups, alarmed by the potential disruption to the three increasingly integrated economies, have lobbied the White House to keep NAFTA as a trilateral deal. (more...)
Michael Kors Reaches Deal to Buy Italian Fashion House Versace Michael Kors Reaches Deal to Buy Italian Fashion House Versace
- September 25, 2018

READ ALSO: Versace for sale? Investment from Michael Kors , does bode well, however, if its recent acquisition of Jimmy Choo (for £896m last year) is anything to go by. Budding conglomerates like Michael Kors have been trying to make in-roads into an industry dominated by European players such as Louis Vuitton-owner LVMH ( LVMH.PA ) and Kering ( PRTP.PA ). (more...)
Israeli soldiers fatally shoot Palestinian protester in Gaza Israeli soldiers fatally shoot Palestinian protester in Gaza
- September 25, 2018

In a report released on Monday, the Washington-based worldwide financial institution highlighted the critical challenges facing Gaza's economy, among them a negative growth rate and an unemployment rate of over 70 percent for the youth. Israel contends it's defending its border and accuses Hamas of using the protests as a screen for attempts to breach the border fence to attack civilians and soldiers. (more...)
NAFTA: Lighthizer hints Mexico pact may need to be reopened if delayed
- September 25, 2018

Canadian Prime Minister Justin Trudeau spoke before Lighthizer at an event hosted by the Council on Foreign Relations in NY and took a more cautious tone about the outcome. -Mexican deal might form the basis of a three-nation pact. "There is still a fair amount of distance between us", U.S. Trade Representative Robert Lighthizer said of Canada at a conference in NY. (more...)
Norwegian Air to stop flights from Belfast to US Norwegian Air to stop flights from Belfast to US
- September 25, 2018

Belfast International Airport has said it is "extremely disappointed" that Norwegian Air has axed its Belfast to U.S. routes from the end of October. "New York and Boston-Providence remain well served by Norwegian from Dublin, Shannon and Cork with up to 33 weekly departures, giving customers in Northern Ireland an alternative for booking daily affordable flights to the USA", the spokesperson added. (more...)
Comcast beats Fox to Sky acquisition Comcast beats Fox to Sky acquisition
- September 25, 2018

The Takeover Panel, the body that regulates United Kingdom mergers and acquisitions, had mandated the two companies to enter an auction process to conclude a final bid in the long-drawn saga to take control of Sky. 'This is a great day for Comcast , ' Comcast chair and chief executive Brian Roberts crows. This acquisition will allow us to quickly, efficiently and meaningfully increase our customer base and expand internationally. (more...)
Instagram co-founders Systrom and Krieger leaving firm Instagram co-founders Systrom and Krieger leaving firm
- September 25, 2018

They have notified the photo-sharing app's leadership team and Facebook on Monday about their decision to leave, the newspaper reported, citing people with direct knowledge of the matter. In 2016, it added the ability to post slideshows that disappear in 24 hours, mimicking the "stories" feature of Snap Inc's Snapchat. We remain excited for the future of Instagram and Facebook in the coming years as we transition from leaders to two users in a billion. (more...)
China attacks America's bullying on trade China attacks America's bullying on trade
- September 25, 2018

Beijing set its new levies on $60 billion of United States goods at 5 and 10 percent and warned it would respond to any rise in U.S. tariffs on Chinese products accordingly. Previous talks in late August saw little progress. "Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook", the agency said in a report Friday. (more...)
OPEC raises forecast based on USA oil production OPEC raises forecast based on USA oil production
- September 25, 2018

Brent could rise to US$100 for the first time since 2014 as the market braces for the loss of Iranian supplies due to USA sanctions, according to Mercuria Energy Group Ltd. Ben Luckock, co-head of oil trading at fellow merchant Trafigura said crude oil prices could rise to $90 per barrel by Christmas and to $100 by the New Year as markets tighten. (more...)
Rod Rosenstein expecting to be fired, AP source says Rod Rosenstein expecting to be fired, AP source says
- September 25, 2018

A Justice Department spokesperson conceded that Rosenstein did discuss secretly taping the president but presented an anonymous source who told the Times that he did so in a sarcastic manner. Investigative reporter Judith Miller said it's less likely that the Rosenstein reports are "totally fabricated" and more likely that information is being leaked for political and partisan purposes. (more...)
Farm Boy stores to be sold to owner of Sobey's grocery chain Farm Boy stores to be sold to owner of Sobey's grocery chain
- September 25, 2018

Bellemare first opened Farm Boy in Cornwall in 1981 and the grocery chain, known for fresh produce and prepared foods, now has 26 stores across Ontario. The acquisition comes as competition in the grocery space continues to heighten, with Amazon acquiring Whole Foods Market past year. Farm Boy founder and co-CEO, Jean-Louis Bellemare, will continue in his role for the "long term", according to the release, along with co-CEO Jeff York. (more...)
Oil prices at four-year high, cross $80 per barrel
- September 24, 2018

It could prompt Washington to consider extraordinary measures, including the use of the Strategic Petroleum Reserve, to cool down fuel prices ahead of the United States mid-term elections. -China trade war and supply, especially from the US, was seen sufficient in the next 12 months, said Janet Kong, BP Plc's head of trading in Asia. Wall Street bankers and hedge funds also saw some caveats to the bullish mood. (more...)
Weight Watchers is the latest company to change their name, here’s why Weight Watchers is the latest company to change their name, here’s why
- September 24, 2018

The US-listed firm wants to broaden its appeal and keep subscribers signed up by moving beyond a short-term diet fix to become a credo to live by, with an app that it hopes users will check as frequently as Facebook or Instagram. But the stock is still up almost 60% this year and has surged more than tenfold since Winfrey first bought her stake in the company almost three years ago. (more...)
SiriusXM buying Pandora Media in $3.5 billion deal SiriusXM buying Pandora Media in $3.5 billion deal
- September 24, 2018

Unlike most competing platforms, the new SiriusXM subsidiary has three types of music streaming services, including a free, ad-supported tier, a Plus, and a Premium option. Sirius XM, controlled by media mogul John Malone's Liberty Media Corp, has built a name supplying more than 175 channels to auto drivers, but has largely trailed Pandora and Spotify Technology SA in mobile and streaming content. (more...)
Iran appears to soften stance on OPEC oil output increase
- September 24, 2018

He was referring to the production compliance Opec and allies had agreed. "Our plan is to meet demand", said Saudi Energy Minister Khalid Al-Falih. Furthermore, it leaves the market extremely vulnerable to supply disruptions. Saudi Arabia, OPEC's biggest producer, says it can add an extra 1.5 million barrels per day - about 1.5 percent of world demand - to the market. Word has gotten out that the JMMC, operating beyond its mandate, is to provide a figure for increasing oil supply under the ... (more...)

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