Economy

Global oil market faces surplus in 2019 as demand growth slows

Global oil market faces surplus in 2019 as demand growth slows OPEC and its partners, meanwhile, are said to be considering a bigger-than-anticipated cut in production. But when President Donald Trump imposed sanctions November 5, he issued six-month waivers for some of Iran's biggest oil customers. [Full Article...]

Toyota Corolla sedan to be unveiled this week

Toyota Corolla sedan to be unveiled this week The front-end design is expected to be identical to the hatchback , which bodes well for the rest of the body being a far more exciting proposition than the current version. The saloon version of the auto all is making its debut in China on 16th November. It could also get a CVT automatic and manual transmission for the petrol variant and only a manual transmission for the diesel version. [Full Article...]

How major USA stock indexes fared Monday

How major USA stock indexes fared Monday The S&P 500 was down 38.05 points, or 1.37 per cent, to 2,742.96, Xinhua news agency reported. The Dow Jones Industrial Average fell 170 points on Tuesday as the USA equity market struggled to rebound after a steep sell-off in the previous session. [Full Article...]

Ocasio-Cortez Slams Amazon's Plan to Locate HQ2 in Queens

Ocasio-Cortez Slams Amazon's Plan to Locate HQ2 in Queens For its headquarters, the company didn't go with the richest offer. Its New York location will be in the Long Island City neighbourhood of Queens, while its Arlington offices will be located in an area called National Landing. Two HQ2 projects would also ensure that Seattle remains Amazon's definitive headquarters. There was no reference in the memoranda to collaboration on preserving hous... [Full Article...]

California McDonald’s Employee Attacked by Woman Because She ‘Didnt Get Enough Ketchup’

California McDonald’s Employee Attacked by Woman Because She ‘Didnt Get Enough Ketchup’ Police said they hope to find the man, but clarified that he is not in trouble, according to KTLA-TV . Though another employee is seen trying to separate the pair, it's not until a man believed to be with the ketchup lover intervenes that the brawl is called to an end. [Full Article...]

Oil prices collapse as OPEC sees production outpacing demand

Oil prices collapse as OPEC sees production outpacing demand One analyst , Phil Flynn of Price Futures in Chicago , said of Tuesday's sell-off: "It's like a run on the bank". Brent crude futures, the global benchmark fell by 7.34 percent to $64.97, while US West Texas Intermediate (WTI) lost $2 in less than 30 minutes to sell at $55.12 on Tuesday evening. [Full Article...]

New questions over Boeing 737 model that crashed in Indonesia

New questions over Boeing 737 model that crashed in Indonesia Now the investigation's focus appears to be expanding to the clarity of US-approved procedures to help pilots prevent the 737 MAX from over-reacting to such a data loss, and methods for training them. Even though this problem was - according to investigators - not covered in the operating manual, pilots did have access to a checklist created to turn off errant systems when the plane started nosing... [Full Article...]

Flipkart's Binny Bansal Resigns After Probe Into Allegation of "Serious Personal Misconduct"

Flipkart's Binny Bansal Resigns After Probe Into Allegation of American giant Walmart Inc had bought 77% stake in Flipkart in May this year. The company focused early on mobile phones, and in 2016 became the first app in India to reach 50 million users. He strongly denies the allegation . His resignation is effective immediately following an investigation by an independent law firm. The details of the complaint shared against Bansal were not revealed b... [Full Article...]

Abu Dhabi summit: Oil production cuts may be necessary

Abu Dhabi summit: Oil production cuts may be necessary US President Donald Trump put pressure on OPEC not to cut supply of oil to prop up the market. President Donald Trump took aim at Saudi Arabia's plan to cut oil production on Monday, injecting new tension into an already fraught alliance that has been clouded by USA concerns over the killing of journalist Jamal Khashoggi and the ongoing conflict in Yemen. [Full Article...]

Calls for open trade to greet Pence as Trump skips Asia summit

Calls for open trade to greet Pence as Trump skips Asia summit In an interview with U.S. broadcast CNCB here yesterday, Dr Mahathir had predicted that Donald Trump's removal as USA president will end the superpower's ongoing trade war with China - the spillover effects of which have disrupted the economies of other countries, including Malaysia. [Full Article...]

Apple (AAPL) stock drops after lowered estimates for iPhone XR sales

Apple (AAPL) stock drops after lowered estimates for iPhone XR sales Widely respected analyst Ming-Chi Kuo writes that sales of Apple's new iPhone XR are slightly below expectations, corroborating a handful of previous reports we've seen over the past few days. Apple tried to talk up the amount of cash it was making from services although bankers are not that happy with what Jobs' Mob has done about Apple Pay and are making their displeasure known. [Full Article...]

Amazon chooses New York, Northern Virginia for new headquarters

Amazon chooses New York, Northern Virginia for new headquarters Last week , the WSJ floated the two-city solution was under consideration, after Amazon had whittled the original 238 sites to 20 earlier this year. New York Mayor Bill de Blasio said if the HQ2 comes to the Big Apple, it would be "the single biggest economic development deal in the history of New York City", The Wall Street Journal reports . [Full Article...]

Ireland investigating major UFO sightings by pilots off Co Kerry coast

Ireland investigating major UFO sightings by pilots off Co Kerry coast It appears to be multiple objects following the same sort of trajectory . However, the air traffic controller reported nothing showing on either the primary or secondary radar. The British pilot onboard the flight from Montreal to Heathrow revealed that the UFO had come up along the left side of the aircraft before it rapidly moved to the North at a very high acceleration. [Full Article...]

Saudi to cut oil exports by 500,000 barrels per day in December

Saudi to cut oil exports by 500,000 barrels per day in December The JMMC, a technical committee, is expected to make important recommendations on production cuts to a key ministerial meeting in Vienna next month for the OPEC and non-OPEC producers. " Prices have been falling amid a continued rise in crude supplies from big producers, such as Saudi Arabia, Russia and the United States, more than compensating for lost Iranian barrels", Forex.com analyst Fawad R... [Full Article...]

Oil prices rise as Saudi Arabia signals production cut

Oil prices rise as Saudi Arabia signals production cut The group, including Russian Federation and Saudi Arabia, warned that crude supply would outstrip demand next year. The group's caution arises partly from the unpredictability of Iranian supply. The world's biggest crude exporter may struggle to convince others to follow its lead. "A new strategy needs to be formed... whether it is a cut in production or something else, but it will not be an i... [Full Article...]

Saudi Arabia to cut December oil exports by 500000 bpd

Saudi Arabia to cut December oil exports by 500000 bpd Opec's de-facto leader Saudi Arabia meanwhile said it would draw back its exports for the month of December to the tune of 500,000 bpd as it anticipates lower winter demand. Suheil al-Mazrouei, energy minister of the host country UAE, hinted that producers are preparing to cut output. Declines extended after the USA said on Monday it would allow eight countries to continue buying sanctioned Ir... [Full Article...]

Ryanair plane impounded in France in row over illegal subsidies

Ryanair plane impounded in France in row over illegal subsidies A bailiff seized the Boeing 737 as it was on the airport tarmac preparing for take off. Passengers from the Thursday flight were put on another plane, which eventually took them to their destination at London's Stansted airport - five hours late. [Full Article...]

The Iceland Christmas Advert Has Been Banned

The Iceland Christmas Advert Has Been Banned Earlier this year, Iceland committed itself to removing palm oil from all its own label food by the end of 2018 in response to the continued deforestation in South East Asia. It would have blown the John Lewis ad out of the window. The statement went on to say: "However, it has been ruled our advert will not appear on TV alongside other supermarkets as it was banned by advertising regula... [Full Article...]

Veterans Day deals and discounts

Veterans Day deals and discounts Golden Corral : The restaurant is hosting a "thank you dinner" Monday. Show proof of service and you'll get a free Red's Tavern Double Burger and bottomless steak fries at the burger chain on November 11. Deals and discounts are subject to change and likely to vary by location, so it is encouraged to call ahead and double-check with a specific location. [Full Article...]

China’s imports surge 26.3 pct, exports rise 20.1 pct in October

China’s imports surge 26.3 pct, exports rise 20.1 pct in October September exports grew 14.5 percent year-on-year. According to Reuters, China recorded a trade surplus of $31.78 billion with the U.S.in October - down from a record $34.13 billion in September. In what could be a sign of a thaw in tensions, however, Trump and his Chinese counterpart Xi Jinping spoke by phone last week ahead of an expected meeting between the two at the G20 summit in Argentina... [Full Article...]


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