Economy

China's economy expands 6.6 pct in 2018

China's economy expands 6.6 pct in 2018 Before the population data was released, Chinese experts forecast that the number of birth for a year ago would continue to fall due to causes such as rapid decline in the number of women at childbearing age and people's lack of willingness to have more babies. [Full Article...]

IMF warns trade confrontations, uncertainty threaten global growth

IMF warns trade confrontations, uncertainty threaten global growth While billionaires saw their combined fortunes grow by $2.5 billion each day previous year, the world's 3.8 billion poorest saw their relative wealth decline by 11 percent. Rising trade tensions pose a major risk to the world economy. But the organization said a slowdown in China could be "faster than expected", potentially spooking financial markets. [Full Article...]

United Airlines passengers delayed on board plane for 16 hours

United Airlines passengers delayed on board plane for 16 hours Dutt says all the passengers were moved to a rescue plane Sunday afternoon and will hopefully be on their way back to Newark soon, though he was left disappointed by the experience. With food running low, Goose Bay officials provided the almost 250 passengers with coffee and doughnuts from Tim Horton's after almost 10 hours into their diversion. [Full Article...]

China economy grows at slowest pace in 28 years

China economy grows at slowest pace in 28 years Growth in the fourth quarter came in at 6.4 percent, down from 6.5 percent seen in the third quarter, the NBS said . The state-run Global Times , for example, called the growth rate "reasonable", insisted the consumer economy is still humming along and blamed American "unilateralism" for the loss of confidence in Chinese markets. [Full Article...]

Google fined $57 million under European privacy law

Google fined $57 million under European privacy law CNIL said it had levied the record fine for "lack of transparency, inadequate information and lack of valid consent regarding ads personalisation". The commission said Google users were "not sufficiently informed" about what they were agreeing to as the company collected data for targeted advertisements. [Full Article...]

Tesla to cut jobs as cars 'too expensive'

Tesla to cut jobs as cars 'too expensive' While the automaker did not state the actual number of jobs being cut, analysts estimated a figure of 3,150 based on the 45,000 total number of employees that Tesla CEO Elon Musk said the company employed. This quarter, as with Q3, shipment of higher priced Model 3 variants (this time to Europe and Asia) will hopefully allow us, with great difficulty, effort and some luck, to target a tin... [Full Article...]

China's 2018 economic growth sinks to 3-decade low

China's government has been pushing to shift away from export-led growth to depend more on domestic consumption. India, the world's second most populous nation, has also been experiencing slower population growth. Chinese policymakers have pledged more support this year to reduce the risk of a sharper slowdown, but they have ruled out a "flood" of stimulus like Beijing has unleashed in the p... [Full Article...]

Trump offers a ‘Dreamers’ deal for border-money proposal to end shutdown

Trump offers a ‘Dreamers’ deal for border-money proposal to end shutdown Trump appealed to "rank-and-file" Democratic lawmakers, hoping to peel them away from leadership, but many issued statements of opposition moments after his 13-minute speech. The proposal was immediately rejected by Democrats and derided by conservatives as amnesty. "In order to build the trust and good will necessary to begin real immigration reform", stated Trump. [Full Article...]

China Reportedly Offered to Go On Spending Spree to Cut Trade Deficit

China Reportedly Offered to Go On Spending Spree to Cut Trade Deficit Both groups of shares have been sensitive to trade developments. Also helping to buoy stocks Friday were dovish comments made by New York Federal Reserve President John Williams. Investors celebrated the potential positive progress in U.S. Threats including the U.S. 'The story was probably not as interesting as the headlines suggested, as the story states that the proposal comes from treasury ... [Full Article...]

IEA lowers Q2, Q3 'call' on OPEC crude oil estimates

IEA lowers Q2, Q3 'call' on OPEC crude oil estimates OPEC crude oil production has fallen in December. U.S. West Texas Intermediate (WTI) crude futures were up 33 cents, or 0.63 percent, at $52.40 per barrel. EST (1606) GMT. Moreover, even if Russian refiners sell their high-sulfur fuel oil to industries other than the shipping sector, they would still be unable to fully offset lost revenues from decreased demand and depressed prices of HSFO. [Full Article...]

Mitsubishi board considers new allegations against Ghosn

Mitsubishi board considers new allegations against Ghosn Ghosn - once the driving force behind the Alliance of Renault , Nissan and, later, Mitsubishi sits so since the 19th century. The visiting French delegation is seeking an explanation from Nissan's management regarding its corporate governance in the wake of Ghosn's arrest, the Nikkei business daily reported, without citing sources. [Full Article...]

Morgan Stanley makes changes to bonus payouts for juniors

Morgan Stanley makes changes to bonus payouts for juniors USA stocks eked out gains on Thursday to consolidate near a one-month high, helped by advances in the healthcare and industrial sectors and as financials shrugged off Morgan Stanley's disappointing earnings. Wall Street's smallest major bank posted a fourth-quarter profit of $1.53 billion, or 80 cents a share, missing Wall Street's forecast of 89 cents a share. [Full Article...]

John Bogle dies at 89; fought for lower fees for investors

John Bogle dies at 89; fought for lower fees for investors He had been diagnosed with an erratic heartbeat as a young man, had his first of six heart attacks at 31 and underwent a heart transplant at 66. Today index funds account for more than 70% of Vanguard's $4.9trn assets under management but the concept was ridiculed as "un-American and "a sure path to mediocrity" when Bogle launched the First Index Investment Trust in 1976". [Full Article...]

Lotus to Build Cars in China

Lotus to Build Cars in China The planning authority of Hubei province approved Geely's plans for the plant in late December. While it is not clear what portion of the new Wuhan plant would be devoted to the British brand, greater production volumes would be consistent with Geely's stated ambition to grow the market for Lotus by broadening its lineup. [Full Article...]

Angel tax: Centre’s measures are a ‘mixed bag’, say experts

Angel tax: Centre’s measures are a ‘mixed bag’, say experts Under the new rules, a startup will first need to be recognised by the department of industrial policy and promotion (DIPP ) to be eligible for concessions for shares that have been issued or are proposed to be issued. Of the total number of assessees who filed income tax returns past year, only around 1.5 lakh assessees mentioned an annual income of more than Rs 50 lakh, according to Shreeji... [Full Article...]

Shopko announces store closures in Idaho, Utah

Shopko announces store closures in Idaho, Utah All other stores remain open as the Company continues to optimize its store footprint. The company announced the bankruptcy filing Wednesday morning. "This decision is a hard, but necessary one", said Russ Steinhorst, chief executive officer, in a news release. In a bankruptcy court filing, the Shopko CEO said that, like many other retail companies, the business has fallen victim to consumers ... [Full Article...]

Guy's Crazy Stunt Gets Him Banned From Cruise Line

Guy's Crazy Stunt Gets Him Banned From Cruise Line In midair, Naydev begins to flail his limbs before he ultimately hits the water. Speaking to KOIN , Naydev said that he was not allowed back on to the ship and was forced to buy a $200 plane ticket to Miami . It's believed he was picked up by a small boat after the dive, brought back to the ship and then asked to leave. If you're wondering the one thing you should never do on a cruise: We... [Full Article...]

Goldman Sachs reports higher fourth-quarter trading revenue

Goldman Sachs reports higher fourth-quarter trading revenue Nevertheless, Solomon on Wednesday still appeared to be making excuses for the bank's entanglement with Low, noting that Goldman wasn't the only bank that had been working with him. So far, it hasn't been all that rosy for some of the largest US banks, and expectations remain modest on Wall Street. 80 were reported by Nuwave Mgmt. [Full Article...]

Facebook commits $300 mn to support local news

Facebook commits $300 mn to support local news The goal of the $ 300 million investment, according to Campbell Brown, Facebook's vice president of global news , is to help news organizations with "newsgathering needs in the immediate future", and provide more longterm support as they "build sustainable business models". [Full Article...]

Microsoft pledges $500m to boost affordable housing

Microsoft pledges $500m to boost affordable housing While Microsoft's efforts could be a boon for the area , the company estimates all of King County needs about 305,000 affordable housing units to keep up with demand and the area's expansion. Rising rent forces many Seattle-area workers to make long commutes daily because they can't afford to live near the city. Encompassing areas of King County, the initiative will see the money split betwee... [Full Article...]


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