Economy

Canada Post workers forced to end strike

Canada Post workers forced to end strike Sinclair said he's most concerned that the bill would impose on postal workers the current working conditions that have led to a worrying rate of injury. Dan Kelly, president of the business federation, said 71 per cent of members it surveyed supported back-to-work legislation after two-thirds of small businesses reported they had been negatively affected by the strike. [Full Article...]

Microsoft catching up to Apple in market value

Microsoft catching up to Apple in market value Apple's market cap hovered around US$823.66 billion as of 3:15 pm in NY, while Microsoft's stood at US$823.90 billion, although the two spent much of Monday afternoon jockeying for the top seat in intraday action. Global demand for smartphones has slowed in recent years, making it more hard for Apple to increase its revenue. In late-afternoon trading, Apple's value was $822.9 billion, about $7 bil... [Full Article...]

Deutsche Bank offices searched in Panama Papers probe

Deutsche Bank offices searched in Panama Papers probe Some 170 prosecutors, state police, national police and tax investigators were involved in the morning searches of six buildings in Frankfurt , and in nearby Eschborn and Gross-Umstadt, Niesen said. The investigation was launched after evaluation of the explosive Panama Papers tax haven revelations and the previous Offshore Leaks report of offshore bank accounts, she said. [Full Article...]

Nasdaq Plans to Pursue Bitcoin Futures Despite Plunging Prices, Sources Say

Nasdaq Plans to Pursue Bitcoin Futures Despite Plunging Prices, Sources Say The Nasdaq futures will be based off the Bitcoin's price on numerous spot exchanges , as compiled by VanEck Associates Corp ., the person said . Bakkt will also facilitate bitcoin futures contracts settled with real bitcoin . He said: "We believe that 2018 was the year of regulation and 2019 will be the year of implementation". [Full Article...]

Oil Prices Edge Up After Nearly Eight-Percent 'Black Friday' Plunge

Oil Prices Edge Up After Nearly Eight-Percent 'Black Friday' Plunge US light crude CLc1 was 75 cents lower at $50.88. According to analysts from TDS, crude oil has joined industrial metals in reflecting a micro-macro dichotomy, as sour market sentiment keep prices below fundamentally determined levels. [Full Article...]

'They're gone. They're done,' says Premier Ford of GM plant in Oshawa

'They're gone. They're done,' says Premier Ford of GM plant in Oshawa GM also says it will reduce salaried and salaried contract staff by 15 per cent, which includes 25 per cent fewer executives. At a press conference in Oshawa on Monday, Unifor National President Jerry Dias promised "one hell of a fight". In the 1980s, the facility employed as many as 40,000 people assembling and engineering cars for the United States and Canada. When the federal and provincial... [Full Article...]

Market to parse Powell words for clues to Fed's future hikes

Market to parse Powell words for clues to Fed's future hikes Federal Reserve Chair Jerome Powell on Wednesday appeared to signal the USA central bank is nearing an end to its interest-rate hikes, saying the Fed's policy rate is now "just below" a level that neither brakes nor boosts a healthy economy. [Full Article...]

Trump plans to go ahead and raise China tariffs

Trump plans to go ahead and raise China tariffs He also said it was " highly unlikely " that he would delay raising rates for the $200bn of goods already subjected to tariffs. The rate increase, from 10pc to 25pc, is due to be implemented on Jan 1. Under the shadow of the trade war, during the third quarter this year China experienced its slowest growth in 10 years, according to the latest economic figures to come out of the country. [Full Article...]

11,000 pubs in Britain have disappeared in a decade

11,000 pubs in Britain have disappeared in a decade Small pubs with fewer than 10 employees have faced the most closures. The rise in employment has been more pronounced in rural pubs, where in 2018 total employment in England and Wales is 17% higher compared with 2008. This is higher than the United Kingdom average of 5.8 pubs. The closure of British pubs is a well-known story. Around 70% of workers in pubs and bars are paid less than the Li... [Full Article...]

Microsoft briefly tops Apple as most valuable company

Microsoft briefly tops Apple as most valuable company On a day when tech stocks are recovering from a bummer week last week, Microsoft reached a valuation of $814 billion Monday. Apple's shares quickly tumbled as many of its suppliers made a decision to cut their forecasts because of an evident drop in overall smartphone demand. [Full Article...]

Trump hits out at General Motors over job cuts in US

Trump hits out at General Motors over job cuts in US Its shares rallied 7.6 percent to $38.66. General Motors is expected to cross the phase-out threshold before the end of 2018. The automaker says the decision to reduce American production has to do with reduced demand for cars like the Chevrolet Cruze, which is built at the OH plant, and an overall strategic shift towards more popular crossover and SUV models. [Full Article...]

Trump issues $267bn tariff threat to China ahead of trade talks

Trump issues $267bn tariff threat to China ahead of trade talks Trump had promised Cook that he would not place tariffs on Apple products , the New York Times reported in June , and Apple devices missed the first round of tariffs applied by the Trump administration in September, but the company's luck might not hold. [Full Article...]

ATM mistakenly dispenses $100 bills; bank lets customers keep the money

ATM mistakenly dispenses $100 bills; bank lets customers keep the money Christmas came early for a bunch of happy Houston-ites after an ATM in the area began issuing $100 bills instead of $10 bills. We have resolved the matter. However, perhaps themselves possessed by the spirit of the imminent holiday season, the bank declared all customers would be allowed to keep the extra money. [Full Article...]

GM Stock Price Shoots Up On Announcement Of Thousands Of Job Cuts

GM Stock Price Shoots Up On Announcement Of Thousands Of Job Cuts GM jumped as much as 7.9 per cent to US$38.75, the highest since July, as of 11.16am in NY trading. When The Drive reached out to General Motors for further info on the eventual fate of both plants, a GM spokesperson didn't have anything to add aside from what's already been made public . [Full Article...]

May struggles to sell Brexit deal to hostile Commons

May struggles to sell Brexit deal to hostile Commons MEP for Gibraltar Molly Scott Cato says the United Kingdom should have a vote between Theresa May's Brexit deal and remaining in the EU. Her aides say she is banking on the "fear factor", daring the House of Commons to vote down a deal which if rejected would leave Britain most likely crashing out of the bloc, its largest trading partner, without any agreements, which would be costly economi... [Full Article...]

Democrats to probe Trump money ties to Russia, Saudis: lawmaker

Democrats to probe Trump money ties to Russia, Saudis: lawmaker Intelligence officials have said the CIA presented the President with a confidence-based assessment given the facts of the situation. "It's inconsistent with the intelligence I've seen". But so far what they're doing is giving a pass to this guy. According to the Times, Argentine officials said it's highly unlikely that the investigation could lead to an arrest warrant before the G20 kicks o... [Full Article...]

Cyber Monday set to become biggest U.S

Cyber Monday set to become biggest U.S Smartphones are expected to account for a large portion of online sales revenue, projected to be more than $2 billion, according to the firm. Some stores started their Cyber Monday sales early. So without further talk, let's dive into the list of discounts, shall we? And discounts will continue throughout the week with 30% off Target-exclusive home brands like "Fixer Upper" stars Chip and Joa... [Full Article...]

Unifor urging GM to bring more product to Oshawa plant

Unifor urging GM to bring more product to Oshawa plant Actions are being taken to reduce salaried and salaried contract staff by 15 percent , which includes 25 percent fewer executives to streamline decision making. Rivals Ford Motor Co and Fiat Chrysler Automobiles NV have both curtailed U.S. vehicle production. "We think it's appropriate to do it while company is strong and the economy is strong". [Full Article...]

Bitcoin falls below $4,000 as crypto collapse worsens

Bitcoin falls below $4,000 as crypto collapse worsens BTC price 00 has buckled, falling under $4,000 and down to $64 billion market capitalization . BTC's spot value is down 11% today and 31.8% over the last seven days. Accordingly, they have resigned themselves to the fact that, to survive, they must relinquish the BCH branding and carry on as a separate, minority blockchain - at least in the near-term. [Full Article...]

Ernst: Trump Needs to Tell Saudis 'Enough Is Enough'

It undermines our values and the authority of our values across the planet". "Whether he did or whether he didn't, he denies it vehemently", Trump told reporters last Wednesday as he prepared to leave the White House for his Florida resort. [Full Article...]


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