Economy

Oil sets sight on $100

Brent for November settlement rose as much as US$2.14 to US$80.94 a barrel on the ICE Futures Europe exchange and traded at US$80.66 at 9:58 a.m.in London . A further complicating factor is the USA trade dispute with China , which is likely to result in Chinese refiners buying less crude from the United States, disrupting what had become a significant trade flow. [Full Article...]

Sirius XM to Buy Pandora in $3.5 Billion Deal

Sirius XM to Buy Pandora in $3.5 Billion Deal Supporting and strengthening Pandora's brand. SIRIUSXM CEO JIM MEYER said, "We have long respected PANDORA and their team for their popular consumer offering that has attracted a massive audience, and have been impressed by PANDORA's strategic progress and stronger execution". [Full Article...]

Oil jumps as market tightens, more gains seen

Trump wrote on Twitter . For instance, USA commercial crude oil inventories are at their lowest level since early 2015 and the drilling activity has subdued recently. OPEC's reticence, combined with signs of accelerating supply losses from Iran, created a bullish mood the the annual gathering of the Asian oil industry, traders, refiners and bankers in Singapore on Monday. [Full Article...]

SiriusXM purchases Pandora for $3.5 billion

Pandora's "powerful music platform will enable SiriusXM to significantly expand its presence beyond vehicles into the home and other mobile areas", a press release adds. Through targeted investments, we see significant opportunities to drive innovation that will accelerate growth beyond what would be available to the separate companies, and does so in a way that also benefits consumers, artists,... [Full Article...]

Versace soon to be sold

Versace soon to be sold The US fashion group has agreed to buy the Italian firm in a deal worth about €1.7bn ($2bn, £1.5bn), Reuters reported. USA fashion group Michael Kors Holdings Ltd has sealed an agreement to take control of Italy's Versace, three sources familiar with the matter said on Monday, adding that an official announcement would be made this week. [Full Article...]

Gold miner Randgold unveils £13.7bn merger with Barrick

Gold miner Randgold unveils £13.7bn merger with Barrick The price of gold has fallen more than 8% this year, putting all gold producers under pressure. Bristow has long criticised the volume over value approach of gold mining companies whilst Thornton - a former banker with Goldman Sachs Group - has espoused a strategy that seeks to recapture the entrepreneurial spirit of Barrick founder, Peter Munk, whlle adopting modern day investment morés in resp... [Full Article...]

Nifty Closes Below 11,000 After A Gap Of Over 2 Months

Nifty Closes Below 11,000 After A Gap Of Over 2 Months Shares of Dewan Housing Finance Corporation rebounded almost 25 per cent to Rs 438.75 after the company stated that it had not defaulted on any bonds or repayment nor had there been any single instance of delay on any of its repayment of any liability. [Full Article...]

Singapore competition watchdog fines Grab, Uber S$13m

Singapore competition watchdog fines Grab, Uber S$13m However, the Competition and Consumer Commission of Singapore (CCCS) released a statement on the same day, stating that it was not informed of the merger . For one, Grab drivers must be free to use any ride-hailing platform and not be forced to use Grab exclusively. Uber will also be required to sell its auto rental business to any rival that makes a reasonable offer and will not be allowed t... [Full Article...]

Petrol Price Crosses 90 Rupees In Mumbai, Cheapest In Delhi Among Metros

Petrol Price Crosses 90 Rupees In Mumbai, Cheapest In Delhi Among Metros Petrol and diesel prices in the financial capital stood at Rs 90.08 per litre and Rs 78.58 per litre, respectively. A litre of petrol in Mumbai costs Rs 90.08, while the price in Delhi is Rs 82.72. A combination of a dip in the value of rupee against the dollar and rise in crude oil prices has led to a spike in fuel prices since mid-August. According to oil companies, refinery gate price of p... [Full Article...]

Oil price up as Trump calls OPEC to lower prices

Oil price up as Trump calls OPEC to lower prices A committee of participating states "expressed its satisfaction regarding the current oil market outlook with an overall healthy balance between supply and demand", a statement said, at the end of a meeting in Algiers. "It's premature to say what we're going to do in 2019", he added. Seeking to reverse a downturn in oil prices that began in 2014, OPEC, Russia and other allies decided in la... [Full Article...]

Petrol price crosses Rs 90 per litre mark in Mumbai

Brent crude oil is now priced at $78.80 per barrel. Fuel prices have been witnessing a steep rise since the past few weeks. In Chennai, petrol price rose by 12 paise, from Rs 85.87 per litre to Rs 85.99 per litre while diesel price in the Tamil Nadu capital increased by 6 paise per litre, from Rs 78.20 per litre to Rs 78.26 per litre. [Full Article...]

Porsche Drops Diesel Engines, to Focus on Hybrids and EVs

Porsche Drops Diesel Engines, to Focus on Hybrids and EVs He was quoted as saying the company wants to concentrate on "what we can do particularly well", citing high-performance gasoline models, hybrids and starting next year electric cars. "The diesel crisis caused us a lot of problems". Stuttgart-based Porsche in February stopped taking orders for diesel models, which it had sold for almost a decade. [Full Article...]

Pompeo confident USA will win China trade war

Pompeo confident USA will win China trade war The effort crumbled a week after Trump tweeted the White House felt "no pressure" to resolve the dispute with China. Worries about the confrontation have already rattled financial markets. China's Ministry of Commerce did not immediately respond Saturday. The Trump administration has argued tariffs on Chinese goods would force China to trade on more favorable terms with the United States. [Full Article...]

Iran says Trump pressing oil majors to raise output

Benchmark Brent oil reached $80 a barrel this month, prompting Mr Trump to repeat his demands for Organisation of Petroleum Exporting Countries (OPEC) to take action to lower prices. "Markets are quite balanced today, there's plenty of supply to meet any customer that needs it". The Opec oil cartel raised its global production forecast on Sunday based on higher-than-predicted United States out... [Full Article...]

Michelle Guthrie forced out of ABC

Michelle Guthrie forced out of ABC Guthrie has yet to comment on this morning's decision. "We are very grateful for all her hard work". "The ABC board has legislated independence in relation to management appointments and the Government respects the duty and role of the board in these matters". [Full Article...]

Student Pilot Arrested After Hopping Florida Airport Fence and Boarding Plane

Student Pilot Arrested After Hopping Florida Airport Fence and Boarding Plane The incident started with the man driving to a curb outside the airport, leaving his vehicle running, and then hopping a fence and boarding an Airbus 321 American Airlines aircraft sitting in a maintenance facility, Booker said . from Canada. Sankat, a student at the Florida Institute of Technology (FIT) where he is studying aviation management, is charged with unarmed burglary of an occupied con... [Full Article...]

Adviser says US close to Mexico-only NAFTA deal, Canada unmoved

Adviser says US close to Mexico-only NAFTA deal, Canada unmoved The U.S. and Mexico already agreed to a deal. A Trump administration official announced on Friday that a trade deal with Mexico was "very, very close" to proceeding without Canada , as the us and its northern neighbor try to hash out a deal before an October 1 deadline. [Full Article...]

Could you stay 30 hours in a coffin?

Could you stay 30 hours in a coffin? Six Flags will provide "six, deluxe, 2' x 7', slight used coffins", as well as "meals, snacks and drinks in bed", as well as a six-minute bathroom break every hour. Participants need to bring their pillows and sleeping bags or blankets. Imagine spending 30 hours in a coffin? Do you think you can spend 30 hours in a coffin? One person will get $300, but everyone who makes it through to the end... [Full Article...]

Ripple To Launch Payment Service, XRP Price Surges By 74% Since Announcement

Ripple To Launch Payment Service, XRP Price Surges By 74% Since Announcement At any rate, Ripple's avant-garde financial technology outpaces its competitors in terms of effective down payments costs, processing fees, and transparency, ensuring expeditious transactions across the globe. This led to the displacement of Ethereum from the second largest cryptocurrency to the third largest. XRP was released on a distributed ledger in June 2012, with 100 billion XRP ... [Full Article...]

September 21: Brexit "humiliation" for the PM

September 21: Brexit But EU leaders rejected a major part of her plan, saying the new economic partnership she had put forward would "not work" and risked "undermining the single market". Responding to a ferocious fightback from the British prime minister, Tusk said he only said her Chequers plan would not work because of her "surprisingly tough and uncompromising" stance. [Full Article...]


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