Business


Trump again slams GM, says new auto tariffs are Trump again slams GM, says new auto tariffs are "being studied"
- December 01, 2018

General Motors' announcement that it would close the plants, as well as cut up to 14,000 jobs came as a blow to the Trump administration, which has made rebuilding American manufacturing a policy priority. U.S. Trade Representative Robert Lighthizer will "examine all available tools to equalize the tariffs applied to automobiles", he said in a statement released Wednesday . (more...)
Trump Signs NAFTA Replacement Deal, Automakers React Trump Signs NAFTA Replacement Deal, Automakers React
- December 01, 2018

While Trump did not mention General Motors' announcement on Tuesday that it would lay off 15 percent of its workers and close five plants in the US and Canada, Trudeau did, calling it a "heavy blow ". Canada was on track to sign the U.S. -Mexico-Canada Agreement (USMCA), she said in televised remarks, adding that one of the issues was that the deal still needed to be translated into three languages. (more...)
Alberta will purchase rail cars to ship crude Alberta will purchase rail cars to ship crude
- December 01, 2018

Clark said he's not sure amendments to legislation are necessary. Notley's proposal is one of several put forward by government and industry officials to boost Canadian oil prices by increasing the amount that can flow to refineries in the USA and overseas. (more...)
Senators Send Rebuke to Saudis, Trump Over Khashoggi Killing Senators Send Rebuke to Saudis, Trump Over Khashoggi Killing
- December 01, 2018

In an initial written statement, Freeland said Khashoggi's killing was "abhorrent and represents an unconscionable attack on the freedom of expression of all individuals". "They obviously made a giant strategic error in abducting and murdering Jamal Khashoggi". Khashoggi, who lived in the U.S. and wrote for the Washington Post , was killed in the Saudi embassy in Turkey. (more...)
Fed officials express caution about pace of future hikes Fed officials express caution about pace of future hikes
- November 30, 2018

His speech to the Economic Club of NY sent markets soaring more than 600 points on Wednesday. On Wednesday addressing a conference in New York, Powell amplified that message, saying that rates are "just below" the Fed's range of estimates for neutral. (more...)
7.1% GDP growth in Q2 'disappointing': Finance Ministry 7.1% GDP growth in Q2 'disappointing': Finance Ministry
- November 30, 2018

In another set of data released by the government, the growth of eight infrastructure sectors accelerated to 4.8 per cent in October from 4.3 per cent in September. Manufacturing growth at 7.4 percent and agriculture growth at 3.8% is steady. By comparison, the average growth rate under the current National Democratic Alliance government stands at 7.3 per cent. (more...)
Dow up 600 points as Fed chief says interest rates near neutral
- November 30, 2018

Speaking to the Economic Club of New York Powell said interest rates were now "just below" the range Fed officials consider neutral, a setting created to neither speed nor slow growth. All he is doing is pointing out an obvious idea", Porcelli wrote in a client note. Many investors read the remarks as an indication that the Fed could tone down its aggressive monetary policy. (more...)
Trump, Nieto, and Trudeau Sign US-Canada-Mexico Trade Deal Replacing NAFTA
- November 30, 2018

Legislators from all three countries still have to ratify it. Administration officials have said publicly that the tariffs would be lifted when a new deal was reached to replace NAFTA. The negotiations were long and at times acrimonious, with Freeland and her delegation learning first-hand what it's like to negotiate with President Donald Trump's administration, in particular his trade emissaries - U.S. (more...)
A production cut at OPEC’s December meeting isn’t guaranteed A production cut at OPEC’s December meeting isn’t guaranteed
- November 30, 2018

As the price started declining back in 2014, the US production declined from 9.61 million barrels per day in the summer of 2015 to 8.43 million barrels per day by the summer of 2016. The EIA also estimated that USA crude oil production in the week ending November 16 was 11.7 million barrels per day, which stayed the same as the previous week. (more...)
Trudeau, Trump and Pena Nieto set to sign USMCA Trudeau, Trump and Pena Nieto set to sign USMCA
- November 30, 2018

Mexico Canada Agreement - or USMCA - in Buenos Aires Friday, using the backdrop of the G-20 Summit to resolve a trade dispute between America and its closest neighbors. With a new deal on the table that's supposed to represent a new era of tariff-free trade, all three countries have been working on resolving the standoff before Friday. (more...)
The Trump-Xi Meeting Isn't Just About Economics The Trump-Xi Meeting Isn't Just About Economics
- November 30, 2018

World leaders descend on Buenos Aires this weekend for the G20 summit , with Russia's seizure of Ukrainian sailors , the murder of Saudi journalist Jamal Khashoggi , and Britain's impending exit from the European Union all high on the agenda. (more...)
Trump studying new auto tariffs after GM restructuring Trump studying new auto tariffs after GM restructuring
- November 30, 2018

Several automakers said privately on Wednesday they feared GM's action could prompt Trump to take action faster than expected on new tariffs. President Donald Trump's latest threats to get back at General Motors could end up doing the exact opposite of what he wants. (more...)
Stock market may be 'over interpreting' Fed Chair Powell's speech Stock market may be 'over interpreting' Fed Chair Powell's speech
- November 30, 2018

The minutes flagged the possibility that the Fed will make another adjustment to maintain control of the policy rate, by adjusting the separate interest rate on excess reserves, or IOER, which is now set at 5 basis points below the upper bound of the federal funds target range. (more...)
G-20 leaders arrive in Argentina, talks on communique G-20 leaders arrive in Argentina, talks on communique "very, very difficult"
- November 30, 2018

A few minutes later, White House national security adviser John Bolton said the president will sit down at the table with Xi "not with the expectation that, at this meeting, there'll be some substantial agreement coming out of it". "After 2-1/2 days of talks and very short nights, some two-thirds of the paragraphs have been okayed", said a G20 official involved in drafting the statement . (more...)
Payless Tricks Payless Tricks "Influencers" Into Buying Discount Shoes For $600 At Fake Event
- November 30, 2018

Discount footwear chain Payless Shoesource recently set up a fake pop-up store called " Palessi " in a Los Angeles mall and invited a bunch of "influencers" to come through and check out all the luxurious range of items. Eventually, Payless let them in on the joke, refunded their money and even let them keep the shoes. " Payless customers share a pragmatist point of view, and we thought it would be provocative to use this ideology to challenge today's image-conscious fashion-influencer ... (more...)
Apple's stock sours, Microsoft's soars. Say what?! Apple's stock sours, Microsoft's soars. Say what?!
- November 30, 2018

This marks a momentous event for the Bill Gates-founded company, since the last time that it was hailed as more valuable than Tim Cook's business was in 2010, as per Business Insider . It is anticipated to bring home a profit of nearly 8.8 billion dollars in the first quarter of the new year 2019. That exceeded by more than $1 billion the value of Apple, which has tumbled this month on concern about iPhone unit sales. (more...)
Audi e-tron GT revealed as four-door 440kW Tesla fighter Audi e-tron GT revealed as four-door 440kW Tesla fighter
- November 30, 2018

The Audi e-Tron GT gets a 434 kilowatts (590 horsepower) system power - that is an impressive figure for the potential of the all-electric drive. The sill draws the eye to the underfloor area where the battery and thus the energy centre of the Audi e-tron GT concept are located. (more...)
Floyd Mayweather and DJ Khaled fined over cryptocurrency promotion Floyd Mayweather and DJ Khaled fined over cryptocurrency promotion
- November 30, 2018

One of the strangest episodes in last year's massive cryptocurrency boom was when boxer Floyd Mayweather posted an Instagram endorsement for a little-known cryptocurrency called Centra. Mayweather also agreed to continue to cooperate with the investigation, according to the SEC. Without admitting or denying the findings, Mayweather agreed to pay more than $600,000 and Khaled agreed to pay more than $150,000. (more...)
Deutsche Bank Raided by Police in Money-Laundering Probe Deutsche Bank Raided by Police in Money-Laundering Probe
- November 29, 2018

Starting at 10 a.m. local time, officers descended on six buildings in Frankfurt , where Deutsche Bank has its headquarters, as well as premises - including at least one suspect's home - in nearby Eschborn and Gross-Umstadt. Prosecutors have accused two of the bank's staff of helping to launder money obtained through criminal activity. The investigation emerged from an analysis of documents leaked from tax havens in recent years, including the 2016 Panama Papers , said Nadja Niesen, ... (more...)
Is The Saudi-Russia Oil Bromance At Risk? Is The Saudi-Russia Oil Bromance At Risk?
- November 29, 2018

Just days before talks on oil policy with Saudi Arabia, Russian President Vladimir Putin said current prices are " absolutely fine", while Saudi energy minister said the kingdom is confident OPEC and its partners can reach a deal to stabilise the market . (more...)
Tesla Disputes Report That China Sales Plunged Tesla Disputes Report That China Sales Plunged
- November 29, 2018

Tesla recently told Reuters the company would cut Model S and X prices in China "to help make our cars more affordable for customers in China". Despite the drop in share prices, Tesla's stock is well ahead of the broader USA equity market in 2018. (more...)
Brexit Impact Papers: How Much Would Each Deal Affect The Economy? Brexit Impact Papers: How Much Would Each Deal Affect The Economy?
- November 29, 2018

Theresa May has hit back at claims she is too "feart" to go up against Nicola Sturgeon in a TV debate on Brexit, as the Prime Minister insisted her withdrawal deal will be "good for the United Kingdom as a whole". There's been widespread criticism of the deal both from many Conservatives and all opposition parties. EU and Union flags are waved outside the Parliament to protest against Brexit on November 27, 2018 in London, England. (more...)
Crypto exchange Binance renames USDT Market to combined Stablecoin Market Crypto exchange Binance renames USDT Market to combined Stablecoin Market
- November 29, 2018

Tether's new banking arrangement with Deltec has been pivotal in enabling it to resurrect its native platform. Now the market will be called Stablecoin Market (USDⓈ). The exchange also stated that it would publish a separate announcement which would list the exact trading pairs that would be either moved or added to this new market. (more...)
Oil prices rebound amid Cyber Monday boost, expectation on OPEC's December meeting Oil prices rebound amid Cyber Monday boost, expectation on OPEC's December meeting
- November 29, 2018

Crude struggles to preserve the rebound from earlier this week as Kuwait's Oil Minister, Bakheet Al-Rashidi, argues that "it's very early to talk about any cuts" ahead of the Organization of the Petroleum Exporting Countries' (OPEC) meeting on December 6, and the current environment is likely to keep oil prices under pressure as the Relative Strength Index (RSI) still sits in oversold territory. (more...)
'They're gone. They're done,' says Premier Ford of GM plant in Oshawa 'They're gone. They're done,' says Premier Ford of GM plant in Oshawa
- November 29, 2018

GM announced Monday that it has no plans to produce vehicles in Oshawa after December 2019. Ford says the province has called on the federal government to extend employment insurance eligibility by five weeks to a maximum of 50 weeks. Auto production has declined to about 2 million units, from a peak of 3 million, another sign the industry's struggles are deeper than Monday's announcement, he said. (more...)

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