Economy

Vancouver home sales in 2018 lowest in almost two decades

Vancouver home sales in 2018 lowest in almost two decades Assessment Authority released its latest numbers January 1. "It's softening across the board actually", he added. Property assessments in this report reflect market values as of July 1, 2018. However, it's 16.5 per cent lower than the active listings of November this year. Other areas, though, still experienced gains. "High home prices, rising interest rates and new mortgage requirements and... [Full Article...]

Global Markets - Apple's shock warning sends investors to safe-haven assets

Global Markets - Apple's shock warning sends investors to safe-haven assets The yen at one point was 4.4 percent stronger versus the dollar after a flurry of automated orders triggered a " flash crash" in thin Asian markets. S&P Technology companies had slid 5.1 percent on Thursday, its biggest one-day percentage drop since August 2011, after Apple's revenue warning sent shockwaves through the sector. [Full Article...]

Reuters survey: Saudi Arabia may cut February heavy crude prices to Asia

Reuters survey: Saudi Arabia may cut February heavy crude prices to Asia At a meeting in December, OPEC and some nonmember producers, including Russian Federation, agreed to cut production by 1.2 million barrels from October 2018 levels, effective as of January 2019, for an initial period of six months. That's the sharpest pullback since January 2017 when OPEC started on its strategy to clear a glut created by surging supplies from shale producers. [Full Article...]

Man attacks a McDonald's employee in Florida

Man attacks a McDonald's employee in Florida As James struggled with Taylor, the video catches a number of male employees lingering in the background and tepidly pulling Taylor back after he had eaten at least half a dozen punches from the much smaller James. "If someone put hands on you, you have to defend yourself". Taylor faces two charges of simple battery. Police were able to apprehend Taylor when they received a call about an unarm... [Full Article...]

Winning B.C. $1-million lotto ticket expires Thursday afternoon

Winning B.C. $1-million lotto ticket expires Thursday afternoon Someone who purchased a lottery ticket in British Columbia a year ago has lost out on $1 million. The Lotto 6/49 ticket was purchased from a Victoria retailer on January 3, 2018 and has gone unclaimed for a year. All unclaimed prize money from national games, including 6/49, goes to future bonus games or promotions and is managed by the Interprovincial Lottery Corporation. [Full Article...]

Fed Chief Jerome Powell Says He Won't Resign If Trump Asks

Fed Chief Jerome Powell Says He Won't Resign If Trump Asks On December 19, the Federal Reserve increased the interest rate for the fourth time in 2018 - from 2.25 percent to 2.5 percent. "But what I do know is that we will be prepared to adjust policy quickly and flexibly and to use all of our tools to support the economy should that be appropriate to keep the expansion on track". [Full Article...]

Qualcomm paves way for ban on some iPhones in Germany

Qualcomm paves way for ban on some iPhones in Germany The US chipmaker posted obligations of Euro 1.34 billion (i.e. $1.52 billion) as a part of a legal prerequisite by a German court, which found on December 20 that Apple had encroached Qualcomm patents on power-saving technology utilized in smartphones. [Full Article...]

Bluefin tuna sells for £2.5m world record at Tokyo fish market

Bluefin tuna sells for £2.5m world record at Tokyo fish market Sushi entrepreneur Kiyoshi Kimura paid the top price, which doubled the previous record of 155 million paid in 2013. Sushi chain owner Kiyoshi Kimura purchased the enormous Pacific bluefin tuna in an auction on Saturday at a Tokyo fish market. [Full Article...]

LA suing IBM-owned Weather Channel over user location tracking

LA suing IBM-owned Weather Channel over user location tracking IBM CEO Ginni Rometty has used the attention around data privacy to try and differentiate IBM from other tech companies, saying the dominant consumer tech platforms should face more scrutiny from regulators. A company representative says it's "always been transparent with use of location data" and will vigorously defend the "fully appropriate" disclosures. [Full Article...]

IRS will not issue refunds during partial government shutdown

IRS will not issue refunds during partial government shutdown Right now, only 12% of IRS staffers are working through the shutdown. The country's tax collector is among the federal agencies affected by the government shutdown, now in its second week. Normally during the first week of January, Kendria Angrand from Liberty Tax Service in Stroud Township starts taking calls from people asking if the place is open. [Full Article...]

Fed Chair Says He Won't Resign If President Trump Asks Him To

Fed Chair Says He Won't Resign If President Trump Asks Him To Powell called the December jobs report "very strong" and said USA data seems "to be on track to sustain good momentum into the new year". The day got off to a strong start after China said it would hold a new round of talks with the United States next week to try and resolve their trade dispute. [Full Article...]

Apple shares plunge after guidance cut

Apple shares plunge after guidance cut That was down from an earlier estimate of $89 to $93 billion. Apple's stock has slumped 39 percent since early October. That led Apple to aggressively market the iPhone XR on its website for $449, about $300 less than its official sticker price. [Full Article...]

USA team to visit China for trade talks

USA team to visit China for trade talks White House economic adviser Kevin Hassett said Thursday that "it's not going to be just Apple" that faces revenue shortfalls as a result of the trade tensions initiated by President Donald Trump between the United States and China. warrant . "There are a heck of a lot of USA companies that have sales in China that are going to be watching their earnings being downgraded next year until we g... [Full Article...]

GM responds to federal lawsuit filed by UAW

The UAW said numerous 690 Lordstown workers on layoff had applied to transfer to the openings at Fort Wayne. The United Autoworkers Union has filed a lawsuit against General Motors, saying the automaker continues using temporary workers at its plant in Fort Wayne, Ind. [Full Article...]

Apple stocks tumble after company cuts forecasts for key quarter

Apple stocks tumble after company cuts forecasts for key quarter At least 15 Wall Street analysts lowered their price targets on Apple's stock before markets opened today, with one slashing its price target by $75 to $200 per share. While we don't have the exact numbers, it's likely that many iPhone customers made a decision to pay the $30 to extend the life of their current handsets rather than shell out hundreds of dollars for a new model. [Full Article...]

China confirms United States trade talks in Beijing next week

China confirms United States trade talks in Beijing next week The US and China on Friday confirmed that they will hold discussions over future trade between the two nations next week, the first such talks since a tentative truce was reached at November's G20 summit in Argentina. China's major state-owned grain stockpiler also said it had resumed buying USA soybeans, and Beijing announced it would suspend extra tariffs on US-made cars and auto parts start... [Full Article...]

Krispy Kreme delivers doughnuts to officers mourning pastry loss

Krispy Kreme delivers doughnuts to officers mourning pastry loss Even the doughnut company itself chimed in, promising a doughnut delivery to get them through this "difficult time". Police are still investigating what caused the original fire. 'We feel your loss. "This literally hurts my soul", the department commented on Facebook, along with the hashtag "I donut think we can recover from this". [Full Article...]

No decision taken on printing of Rs 2,000 note: Govt official clarifies

No decision taken on printing of Rs 2,000 note: Govt official clarifies In December 2017, an SBI Research report had said that the RBI might either be holding back Rs 2,000 notes or could have stopped printing high denomination currency. The decision, however, does not mean that the notes will be invalid, ThePrint reported. The total value of such notes translates into Rs 15,787 billion. [Full Article...]

Dow Falls 660 Points as Apple Stokes Global-Economy Worries

Dow Falls 660 Points as Apple Stokes Global-Economy Worries After Asian markets tumbled overnight and European exchanges stumbled, US futures were trading lower on Thursday morning, dragged down by Apple's stunning announcement Wednesday. Apple's tech peers saw modest declines in a down market but not on the same scale as the Apple sell off. Netflix was just barely into green territory. [Full Article...]

Oil opens 2019 with losses on surging supply, signs of economic slowdown

Oil opens 2019 with losses on surging supply, signs of economic slowdown But at the same time, his sanctions on Iran's oil reduced supplies by at least a million barrels per day. Oil's struggling to recover from a slump in the fourth quarter of 2018, which dragged crude in NY and London about 20 percent lower for the year in the first annual decline since 2015. [Full Article...]


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