Economy

Oil Prices Inch Higher Despite Crude Build

Oil Prices Inch Higher Despite Crude Build US light crude was 25 cents down at $65.93. Oil fell on Thursday, touching its lowest levels since June, due to rising concerns over weaker global demand and increased supply from the world's major oil producers. U.S. West Texas Intermediate ( WTI ) crude CLc1 futures fell $1.16 to $65.88 a barrel, down 1.7 percent. Meanwhile a Reuters survey found the Organisation of the Petroleum Exporti... [Full Article...]

Markets surge as Trump tweet lifts trade hopes

Progress in US-China talks has stalled since May, when Trump put a stop to a deal that would have resulted in China buying more energy and agricultural goods to narrow the trade deficit. trade issue, ' Xi said. U.S. Senator Lamar Alexander of Tennessee told Li that the delegation was there "to show our respect to a great country and a great people", and that the two countries "are competitors bu... [Full Article...]

U.S. indictment accuses Chinese firm of stealing trade secrets

U.S. indictment accuses Chinese firm of stealing trade secrets With the U.S. unsealing a criminal indictment against United Microelectronics (UMC) and its China-based partner of stealing trade secrets from Micron Technology, the Taiwan-based foundry has issued a statement dismissing the allegations. says stole secrets from chipmaker Micron. Wang downloaded over 900 Micron confidential and proprietary files before he left MMT and stored them on USB external ha... [Full Article...]

Brexit Deal On Irish Border Expected Soon

Brexit Deal On Irish Border Expected Soon Mr Carney said there are scenarios where policy "might need to be tightened in the event of a no deal , no transition Brexit", should a plunge in the value of the pound cause inflation to surge and impact United Kingdom production. He claimed that the Brexit process could result in Northern Ireland ending up as part of an "effective European Union protectorate". In a letter to a parliamentary s... [Full Article...]

Japanese pilot Katsutoshi Jitsukawa admits being drunk shortly before Heathrow flight

Japanese pilot Katsutoshi Jitsukawa admits being drunk shortly before Heathrow flight Katsutoshi Jitsukawa, 42, had nearly 10 times more than the legally permitted amount of alcohol in his bloodstream when he was arrested, CNN quoted the Metropolitan Police as saying on Thursday. That is probably why he landed up at the Heathrow airport highly drunk and ready to board the flight. JAL have apologised for the incident and said: "Steps will be taken to prevent future occurrences". [Full Article...]

Starbucks All-New Holiday Cups Actually Have A Christmas Theme This Year

Starbucks All-New Holiday Cups Actually Have A Christmas Theme This Year Starbucks is getting into full festive mode with the return of their holiday drink lineup. Last year's cups drew the ire of some Grinches who were upset that the cups allowed people to fill in their own holiday color schemes. This year, the company is strictly sticking with Christmas . "We started this season by looking to the past", Kristy Cameron from the Starbucks Creative Studio said i... [Full Article...]

China premier: Sino-US ties can get back on normal track

China premier: Sino-US ties can get back on normal track The two leaders agreed to "strengthen economic exchanges", said a ministry spokesman, Lu Kang. Trump said he also talked with Xi about "many subjects", including a "good discussion" on North Korea, where Trump is trying to negotiate an end to Pyongyang's nuclear weapons program. [Full Article...]

White House Hints At Easing Of Iran Sanctions For 'Friends And Allies'

White House Hints At Easing Of Iran Sanctions For 'Friends And Allies' Treasury Department. Despite the lower output from Iran, some exports from the Persian Gulf nation will likely continue if the Trump administration officially grants waivers to India, South Korea and potentially others. Under this, rupee is used for import of rice, drugs, and other products from India while the balance proceeds in rupee and euro sit idle in the Indian bank waiting for sanction... [Full Article...]

US restricts exports to Chinese semiconductor firm Fujian Jinhua

US restricts exports to Chinese semiconductor firm Fujian Jinhua The export ban was put in place because Fujian Jinhua "poses a significant risk of becoming involved in activities that are contrary to the national security interests of the US", the Department said. ZTE had violated a deal to settle violations of sanctions on North Korea and Iran, . but was allowed to resume purchases of USA products after a revised settlement and a one billion dollar fine. [Full Article...]

Google staff staging walk outs over sexual misconduct allegations

Google staff staging walk outs over sexual misconduct allegations They also want Google to commit to ending pay inequity and to create a publicly disclosed sexual harassment report and a clearer process for reporting complaints. "I know they've been talking about this internally at Google, and so the day of, they were fully ready for this to happen", Fingas said. Google CEO Sundar Pichai and vice president of people operations Eileen Naughton responded to... [Full Article...]

Dimmer Projections Of Oil Revenue Put Iran In A Bind

Dimmer Projections Of Oil Revenue Put Iran In A Bind U.S. sanctions on Iran's oil sector that were lifted as part of an internationally-brokered nuclear deal with Tehran are set to go back into effect November 5 after U.S. That has set off a scramble by some of Iran's biggest energy buyers, including China and US allies such as India and Turkey, to either get around the USA sanctions or make up the shortfall elsewhere. [Full Article...]

Hyundai and Kia reveal solar roof cars

Hyundai and Kia reveal solar roof cars Solar charging technology will be developed to support the vehicle's main power source, improving mileage and reducing Carbon dioxide emissions. As for the power generated, that will either be used to charge up the vehicle's regular battery, or to an additional battery. [Full Article...]

Reese's lets people trade gross Halloween candy for peanut butter cups

Reese's lets people trade gross Halloween candy for peanut butter cups If you plan on heading over there with all of your mediocre hard candy and taffy, get their earlier, because they expect the candy to go fast. "As the No.1 Halloween candy (with over half of candy buyers purchasing Reese's), Reese's has come up with a solution", Lingeris said. [Full Article...]

Israel stages Ease of Doing Business turnaround

Israel stages Ease of Doing Business turnaround In its annual report, the World Bank said overall, the BRIC economies - Brazil, Russia, India and China - improved their average ease of doing business score by a combined total of nearly 19 points across various areas of business regulation. [Full Article...]

United Kingdom government moves to tax tech giants

United Kingdom government moves to tax tech giants To get himself out of that corner, the chancellor would have to raise taxes, or more likely, continue to borrow money, the IFS said . Experts have warned about the potential impact of the tax. Whether it's part of the intensifying trade war, with political undertones, or whether it's just Europe trying to collect their dues from companies that are making a killing, this Europe-wide movement o... [Full Article...]

USA plans more China tariffs if Trump-Xi meeting fails

USA plans more China tariffs if Trump-Xi meeting fails The US levied tariffs of 10 percent on United States dollars 200 billion of Chinese products in September, with the rate set to increase to 25 percent by the end of the year barring a breakthrough in the trade talks. would want as priorities", he told the radio broadcaster, adding that, in some cases, tentative agreements between the two sides had been undone overnight. [Full Article...]

RBI Governor Urjit Patel may resign, reports say; rupee down

RBI Governor Urjit Patel may resign, reports say; rupee down Interestingly, Section 7 has never been invoked in independent India. Former finance minister Yashwant Sinha said RBI governor must resign if govt has issued directives to central bank. The gains were largely a result of a separate announcement by the RBI about an injection of liquidity through government bond buying. According to sources, the government is not happy with Acharya's speec... [Full Article...]

Government Plans £400m Tax Raid on Tech Giants

Government Plans £400m Tax Raid on Tech Giants Yesterday's budget did indeed contain measures created to increase the tax bills of the transatlantic tech giants, with the chancellor outlining a plan to make as much as £400m a year from the introduction of the UK Digital Services Tax in 2020. [Full Article...]

FBI Conducting Criminal Investigation Into Tesla

FBI Conducting Criminal Investigation Into Tesla A Tesla spokesperson confirmed the company had received a "voluntary request" earlier this year from the US Department of Justice about its "public guidance for the Model 3 ramp" and cooperated with the request. The Model 3 global expansion is pushed to early and mid-2019. Tesla gave a statement on the FBI investigation to Fox's Charlie Gasparino, who posted it on Facebook . [Full Article...]

IBM to Acquire Linux Distributor Red Hat for $33.4 Billion

IBM to Acquire Linux Distributor Red Hat for $33.4 Billion IBM, on the other hand, has struggled to remain relevant in the public cloud era. The real question is whether Red Hat's influence on Linux and open source will grow now that it has IBM's financial backing. Red Hat made bets to compensate for this, most prominently with OpenShift and a container platform. "IBM is committed to being an authentic multi-cloud provider, and we will prioritise the u... [Full Article...]


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