Economy

Oil gains as Saudi Arabia stands by OPEC cuts, United States drilling drops

Oil gains as Saudi Arabia stands by OPEC cuts, United States drilling drops Brent crude futures were at $66.75 per barrel, up 17 cents, or 0.3 percent. In 2017-2018, India's crude oil imports from Saudi Arabia were 36.8 million tonne, accounting for 16.7 per cent of total imports. Saudi Arabia has voluntarily cut its supply by more than the deal requires and in April will keep output "well below" 10 million bpd, the Saudi official said - below the 10.311 million bpd t... [Full Article...]

Socialism Knocking on America’s Door: Warren Wants to Break Up Companies

Socialism Knocking on America’s Door: Warren Wants to Break Up Companies The three ads that were taken down had the following message posted below them: " This ad was taken down because it goes against Facebook's advertising policies ". When asked about how Warren would like to break Apple , she mentioned that, the company runs the App Store which is a platform for developers to sell/share their work while also publishing Apple's own work. [Full Article...]

Pres. Trump budget calls for return to 'fiscal sanity'

Pres. Trump budget calls for return to 'fiscal sanity' The politically contentious declaration would circumvent Congress, although there's no guarantee Trump will be able to use the money in the face of a legal challenge from California and other states. Under the budget, major sections of both the Affordable Care Act and Medicaid would be turned over to the states starting in 2021. But with Democrats in charge of the House, the plan is going nowhere ... [Full Article...]

Tesla raises prices as Musk backtracks on closing stores

Tesla raises prices as Musk backtracks on closing stores Electric carmaker Tesla has performed a U-turn on proposed store closures by announcing it will raise prices of its high-end vehicles by around three per cent on average in an effort to retain more dealerships around the world. Given The Economist Intelligence Unit is forecasting consumer price inflation of 2.2% in the United States, this is less than a 1% increase in real terms. [Full Article...]

Brexit: British PM Theresa May faces another defeat after deadlock

Brexit: British PM Theresa May faces another defeat after deadlock Britain is due to pull out of the European Union in less than three weeks, on March 29, but the government has not been able to win parliamentary approval for its agreement with the bloc on withdrawal terms and future relations. Late Monday, Cabinet Office Minister David Lidington announced in the House of Commons that the two sides had agreed on "legally binding changes" to a portion of the dea... [Full Article...]

Plane makes emergency landing in NJ, passengers moved out

Plane makes emergency landing in NJ, passengers moved out The plane landed and all 189 passengers exited using its emergency slides. The emergency landing shut Newark airport to all arrivals and departures. Cabana said nobody was injured, however a Port Authority of NY and New Jersey spokesperson said two passengers reported minor injuries, and one was taken to a hospital to be examined. [Full Article...]

Porsche Taycan production version set for September unveiling

Porsche Taycan production version set for September unveiling Yet now we know that we are talking about not one, but two battery variants. That's more optimistic than the US' EPA tests, so we're expecting something in the mid-200s on that cycle. Although it is not yet possible to pre-order the Porsche Taycan, buying interest can be measured by registrations in the option mentioned above, that requires a 2,500 euro deposit. [Full Article...]

Things To Know About The $6.9B Nvidia-Mellanox Acquisition

Things To Know About The $6.9B Nvidia-Mellanox Acquisition Xilinx Inc was also part of the process, sources said. "We're excited to unite NVIDIA's accelerated computing platform with Mellanox's world-renowned accelerated networking platform under one roof to create next-generation datacenter-scale computing solutions". [Full Article...]

Tesla to raise vehicle prices, keep more stores open

Tesla to raise vehicle prices, keep more stores open Tesla CEO Elon Musk attends the Tesla Shanghai Gigafactory groundbreaking ceremony in Shanghai, China January 7, 2019. The price rises, which will come into effect on 18 March, will add around £2160 to the £72,000 starting price of a Model S , and £2400 to the cheapest Model X SUV, now £80,200. [Full Article...]

Australian Crypto Exchanges Shut Down in Connection to Crime Ring

Australian Crypto Exchanges Shut Down in Connection to Crime Ring It remains unclear how this is going to affect the clients of these cryptocurrency exchanges . So far, he has been charged with importing and trafficking drugs. Following the arrest, Austrac said it suspended the registration of two digital currency exchange businesses where the man was a key member, removing their ability to continue to conduct business. [Full Article...]

Philadelphia Outlaws Cashless Stores, Calling Them Discriminatory

Philadelphia Outlaws Cashless Stores, Calling Them Discriminatory Some transactions are reportedly exempt: parking lots, garages, businesses that offer memberships, rentals with security deposits, electronic transactions and goods sold only to staff. The Bezos-owned company plans to open up 3,000 cashless stores across the country by 2021. According to the WSJ , Philadelphia lawmakers said that Amazon could work around the law under the exemption for stores... [Full Article...]

Rio Tinto (RIO) Stock Rating Lowered by UBS Group

Rio Tinto (RIO) Stock Rating Lowered by UBS Group The book to market ratio is the current share price of a company divided by the book value per share. Traders will typically try to understand recent stock activity in order to make the most out of the price action. Stock price presented -9.85% negative comparing value from it 52-week high point and showed 22.68% rise in value from its 52-week low point. (NASDAQ:HDSN) is placed at 6.26 and 52 week... [Full Article...]

Trump expected to seek $8.6B for border wall in new budget

Trump expected to seek $8.6B for border wall in new budget The House has already voted to revoke the emergency, and the Senate is likely to do the same this week. The proposal comes on the heels of a bruising battle with Congress over wall funding that resulted in a five-week partial federal government shutdown that ended in January, and could touch off a sequel just ahead of a trifecta of ominous fiscal deadlines looming this fall. [Full Article...]

US Economy Loses Steam, Adding Only 20000 Jobs Last Month

US Economy Loses Steam, Adding Only 20000 Jobs Last Month All told, Friday's monthly employment report from the government pointed to a still-sturdy job market and economy. Hiring across the US slowed far more than expected in February, the Labor Department said Friday , further adding to fears of an economic slowdown. [Full Article...]

Norway's wealth fund to divest from some oil companies

Norway's wealth fund to divest from some oil companies But the divestment will focus on companies which trade exclusively in exploration and production like Marathon and Chesapeake Energy rather than the integrated oil giants. In fact, the proposed divestment is limited to only include companies exclusively involved in oil and gas exploration, not integrated majors like BP, Exxon and Equinor, Norway's state-owned oil giant. [Full Article...]

Brexit in peril as Theresa May faces another heavy defeat in Parliament

Brexit in peril as Theresa May faces another heavy defeat in Parliament There was little sign however that Brexiteers were willing to fall into line without changes to the deal which suffered a crushing 230-vote defeat when Mrs May put it to the first "meaningful vote". "I do have to ask myself what game are they playing here". "I don't actually see much internationalism in terms of how we're going to stay engaged with the world community, so I think there's a big f... [Full Article...]

Unemployment rate in Northeast BC continued to rise in February

Unemployment rate in Northeast BC continued to rise in February This is the best month for jobs since 2012, and this strong February comes after an even stronger January. "We always take this survey with a grain of salt, and it could still be in the final stretch of catching up to the larger gains we saw a year ago in the more reliable payroll survey", said Royce Mendes, senior economist at CIBC, in a research note. [Full Article...]

$279M lotto winner's ex-wife doesn't want him or his money

$279M lotto winner's ex-wife doesn't want him or his money To his surprise, he found that somebody had handed them in the day before. "I just didn't believe that it was me, after all these years of playing, I finally had something that said, you're a bigger victor than $2", he said. "If you think about it, it's very hard to say who owns a lottery ticket, short of someone coming in here and saying, 'I purchased this ticket, it's mine, ' " he said. [Full Article...]

Tesla enters into agreement with Chinese lenders for Gigafactory

Tesla enters into agreement with Chinese lenders for Gigafactory Tesla will make its Model 3 sedans at the factory, initially targeting 3,000 cars a week before ramping up annual production to 500,000. Musk tweeted a correction hours later, claiming that he meant to say "annualized production rate at end of 2019 probably around 500k", and that this year's deliveries were "still estimated to be about 400k". [Full Article...]

Bank of Canada expected to hold rates as uncertainties weigh

Bank of Canada expected to hold rates as uncertainties weigh But it acknowledged the slowdown ended up being "sharper and more broadly based". "Both exports and business investment also fell short of expectations". That may force a response from the Bank of Canada , but analysts expect no major policy changes at the Wednesday meeting, which will not include the publication of a new economic forecast. [Full Article...]


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