Business


'The Fed has gone crazy': Trump points finger for Wall Street tumble 'The Fed has gone crazy': Trump points finger for Wall Street tumble
- October 15, 2018

In effect, higher mortgage rates could depress the rate of price appreciation of houses, as homebuyers cannot bid as aggressively for properties as they could when rates were lower. This all makes sense, but it might be based on some questionable assumptions. "The long end of the yield curve has finally moved to the view that this could be a more persistent recovery", said Michelle Meyer, head of USA economics at Bank of America-Merrill Lynch. (more...)
Riyadh threatens retaliation for 'actions' against it over missing journalist Riyadh threatens retaliation for 'actions' against it over missing journalist
- October 15, 2018

The market clawed back some of the losses, trading down over 4 percent later on. "The Kingdom of Saudi Arabia extends it appreciation to all, including the USA administration, for refraining from jumping to conclusions on the ongoing investigation". (more...)
U.S. inventories of crude oil, gasoline increase U.S. inventories of crude oil, gasoline increase
- October 15, 2018

The report said that in future, a lot of potential supply could come to the market from places like Iran , Iraq, Libya, Nigeria and Venezuela , if their various challenges can be overcome. Gulf of Mexico, producers had cut output by 40 percent on Thursday due to Hurricane Michael, according to the Bureau of Safety and Environmental Enforcement, even as some operators began returning crews to offshore platforms. (more...)
After backlash, Amazon to boost pay for longtime workers After backlash, Amazon to boost pay for longtime workers
- October 14, 2018

When Amazon announced last week that it would boost its hourly minimum wage to $15, it also cut two benefits: monthly bonuses and a chance to own Amazon's sky-rocketing stock, now worth almost $1,800 a share. Warehouse workers making below $15 an hour now will receive raises that amount between $2,000 and $7,000 more a year, depending on location, length of employment, and position. (more...)
Mortgage rates hit 7-year high amid slowing housing market Mortgage rates hit 7-year high amid slowing housing market
- October 14, 2018

Although rates have been rising for months, 5 percent isn't that high compared to the decade before the financial crisis. Borrowing costs on 30-year mortgages, the most widely held home loan type in the United States, averaged 4.90 percent in the week ended October 11, which was the highest since the week of April 14, 2011, the mortgage finance agency said. (more...)
Mike Ashley snaps up Glasgow's House of Fraser for £95m Mike Ashley snaps up Glasgow's House of Fraser for £95m
- October 14, 2018

The price paid for the site was more than the £90m paid by Sports Direct for the whole department store chain business. Although House of Fraser as a business was founded in Glasgow in 1849, the retailer did not move into the Frasers building until the 1950s. (more...)
Chinese tech stocks are getting slammed Chinese tech stocks are getting slammed
- October 14, 2018

Hong Kong retail investors who trade callable bull/bear contracts actually made a profit overall. Some have pointed to the continuing trade war between China and The United States , according to CNBC , while others have said that the fall is a market correction. (more...)
High Court to rule on bid to temporarily halt Cuadrilla fracking High Court to rule on bid to temporarily halt Cuadrilla fracking
- October 14, 2018

But the judge ruled today there was "no serious issue". This comes after a legal challenge to stop fracking near Preston in Lancashire failed, giving energy firm Cuadrilla the green light to drill two wells at the site. Fracking for shale gas can go ahead for the first time in the United Kingdom since it was linked with earthquakes in 2011. But Mr Justice Supperstone said there was "no evidence" to support the claim.Cuadrilla chief executive Francis Egan said he was "delighted" and fracking ... (more...)
US Food & Drug Administration Seeks Details On Electronic Cigarettes US Food & Drug Administration Seeks Details On Electronic Cigarettes
- October 14, 2018

Gottlieb said the agency was concerned about sweet flavors in several of the products, which he said are "one of the principal drivers of the youth appeal of e-cigarettes". The agency has permitted companies to continue selling only vape devices that were on the market prior to August 8, 2016, while preparing applications for the agency to review the products by 2022. (more...)
Deciem to close nearly all its stores following founder's post Deciem to close nearly all its stores following founder's post
- October 14, 2018

Comments on Truaxe's Instagram post note many are not able to make purchases through the website any longer. This announcement is the latest in a string of peculiar online behavior. Since Estee Lauder filed the application, Truaxe has taken to Instagram to post a handful of missives, including copies of Estee Lauder's application, emails to and from Gelowitz, copies of text message conversations about his access to Deciem's social media accounts and rants about alcohol service at an ... (more...)
Government grant for plug-in hybrids scrapped Government grant for plug-in hybrids scrapped
- October 14, 2018

However, the overall vehicle market is down by 7.5 per cent this year after recent clampdowns on diesel and more stringent emissions tests. From 9 November, only plug-in cars that can cover 70 miles on electricity will qualify for the grant, effectively ending the Government-funded discount for all plug-in hybrids now on sale in the UK. (more...)
Alcohol warning label to be mandatory on all drinks Alcohol warning label to be mandatory on all drinks
- October 14, 2018

In recognition of these efforts, the forum called for comprehensive consultation and appropriate transition timelines and stock-in-trade exemptions on new arrangements. "This is a small but helpful step in tackling foetal alcohol spectrum disorder, however more work on this awful scourge is needed, particularly in some remote communities where incidence is very high". (more...)
China echoes International Monetary Fund pledge to avoid using currency as trade war tool China echoes International Monetary Fund pledge to avoid using currency as trade war tool
- October 14, 2018

Global financial leaders wrapped up an annual meeting of the International Monetary Fund and World Bank on Saturday by urging countries to brace for potential risks from trade disputes and other tensions. The argument gained little traction in Bali on Saturday. Tensions have soared recently with Trump's administration rolling out billions of dollars in tariffs against China in a bid to tackle its trade deficit and rein in what Washington considers unacceptable Chinese trade ... (more...)
Gold inches up as retreat of bond yields weigh on dollar Gold inches up as retreat of bond yields weigh on dollar
- October 14, 2018

Stock markets in Asia and Europe trimmed earlier losses after a four-day selloff that had pushed shares in Asia to a 17-month low and knocked European shares to six-month lows. The weakness in tech was led by semiconductor names after Swiss vacuum valve maker VAT Group said demand from chip equipment makers was softening. "As uncertainty continues to prevail in financial markets across the world, many investors are staying on the sidelines until more clarity emerges in US Treasury and ... (more...)
The Top 5 cryptocurrencies latest price The Top 5 cryptocurrencies latest price
- October 14, 2018

In its latest blog post, Chainalysis says that "intensive analysis of bitcoin's 32 largest wallets, however, shows these fears to be overblown". "Continued rapid growth of crypto assets could create new vulnerabilities in the global financial system", the worldwide Monetary Fund said in a recent report . (more...)
Australias ANZ fired 200 staff due to bad banking behaviour - CEO Australias ANZ fired 200 staff due to bad banking behaviour - CEO
- October 14, 2018

Mr Elliott also said the public has taken out their anger on the big banks. "We should dismiss people when they are grossly negligent or when they do things that are clearly bad and cause customer harm", Elliott told parliament's House Economics Committee . (more...)
Woman thrown off flight with her 'emotional support' squirrel Woman thrown off flight with her 'emotional support' squirrel
- October 14, 2018

The flyer told the USA -based airline before she arrived at the airport that she would be bringing the animal but when they realised it was a squirrel they refused to let her on the plane. Torok was able to catch a flight to Cleveland the next day but she had to do it without her squirrel. "I was treated very poorly. I was called a liar by one of the stewardesses", Torok told the station. (more...)
Silent EV Jaguar I-Pace to soon alert pedestrians as it approaches Silent EV Jaguar I-Pace to soon alert pedestrians as it approaches
- October 14, 2018

As cool as that it, it did not work as Jaguar predicted it would since people keep looking into the sky instead of on the road when they hear the sound. Engineers tested sounds in several environments, including an anechoic chamber (specialist echo-free room) and a number of urban scenarios, before settling on the final sound for the I-PACE. (more...)
A fresh glance at automotive world A fresh glance at automotive world
- October 14, 2018

The ability of level 3 and get an electric crossover of the brand. With the petrol engine and electric motor both at work, the luxury saloon touches 100km/h from standstill in five seconds flat and can go up to a top speed of 250 km/h. If everything goes according to plan, the 2020 S-Class would put Mercedes on an even footing with its major competitor - and ahead of companies like Volkswagen, who are still trying to figure out the best approach to sharing the costs of research, ... (more...)
How to survive a long-haul flight, Travel News & Top Stories How to survive a long-haul flight, Travel News & Top Stories
- October 14, 2018

The first new non-stop flight between Singapore and NY departed Changi International Airport on October 11 at 11:37pm (Singapore time) and arrived at Newark Liberty International Airport a day later, at 5:29am (US Eastern time). When not flying the plane , the other team will find time to sleep. Operated by Singapore Airlines ( SINGF ) - ranked the top airline in the world earlier this year- the route re-launched in response to high consumer demand for the one-stop journey. (more...)
Tesla says there's still time to get $7,500 tax credit Tesla says there's still time to get $7,500 tax credit
- October 14, 2018

This week, Tesla let customers know that they should act quickly if they want to claim the credit. Vehicles have piled up in lots around California awaiting transport, and Musk said last month that Tesla had moved from "production hell to delivery logistics hell ". (more...)
Mega Millions winning numbers announced for $548 million jackpot Mega Millions winning numbers announced for $548 million jackpot
- October 14, 2018

Almost $900 million is up for grabs in nationwide lottery drawings this weekend. Most winners opt for cash, which for Friday night's drawing would be an estimated $309 million. Four tickets matched all five white balls Tuesday to earn the second prize, and 37 matched four white balls and the Mega Ball for a third-place prize. (more...)
Judge says she'll order new Monsanto trial Judge says she'll order new Monsanto trial
- October 13, 2018

The evidence at trial was "more than sufficient to support an inference" that Johnson's cancer was caused by his exposure to Monsanto's herbicides, the attorneys said. That included $1 million a year for future noneconomic damages for a healthy adult's life span of 33 years - a calculation that Monsanto argued the jury should have based on Johnson's actual life expectancy of less than two years. (more...)
Prime Minister Scott Morrison promises to fast track new business tax cuts Prime Minister Scott Morrison promises to fast track new business tax cuts
- October 13, 2018

Scott Morrison announced on Thursday that the tax cuts for businesses with an annual turnover of less than 50 million Australian dollars (35.36 million US dollars) would be brought forward five years at a cost of 3.2 billion Australian dollars. (more...)
Factors beyond producers’ control are impacting oil market - OPEC Factors beyond producers’ control are impacting oil market - OPEC
- October 13, 2018

Brent crude futures fell $2.10, or 2.5 per cent, to $80.99 a barrel. U.S. West Texas Intermediate (WTI) crude futures were down by $1.10, or 1.5 percent, at $72.07, having fallen to their lowest since September 28. The West's energy watchdog said in its monthly report that the market looked "adequately supplied for now" and trimmed its forecasts for world oil demand growth this year and next. (more...)

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