Economy

PG&E shares plunge on bankruptcy worries

PG&E shares plunge on bankruptcy worries PG&E could be on the hook for tens of billions of dollars for its potential role in California's devastating Camp Fire previous year - the deadliest and most destructive wildfire in the state's history. "Last year, they were able to fool the legislature with the narrative of bankruptcy or bailout, and the legislature gave them a bailout". Those bonds will help pay for damages tied to deadly Calif... [Full Article...]

December Jobs Report: The Labor Market Is Telling Everyone Not to Panic

December Jobs Report: The Labor Market Is Telling Everyone Not to Panic Both figures are a sign that the United States economy remains strong despite recent stock market volatility over economic growth worries and a prolonged U.S. Manufacturing, health care , retail and construction led December's growth. Restaurants and bars added 41,000 to the close the year with a 235,000 gain, down from 261,000 in 2017. [Full Article...]

This may be the new 2019 iPhone Xi

This may be the new 2019 iPhone Xi However, it is likely that this is one of the most powerful models. Renders purportedly showing the iPhone XI, as it will probably be called, have hit the web, revealing an unusual rear triple-camera setup. We're just not sure if this three-camera bump thing should be one of those changes to be honest. Before you start panicking looking at this unlike-Apple design, OnLeaks claims the 2019 iP... [Full Article...]

Brexit: Rival MPs find common cause in blocking 'irresponsible' no deal

Brexit: Rival MPs find common cause in blocking 'irresponsible' no deal It is not certain, however, that MPs will get the chance to vote for the change. A deal setting out the terms of the United Kingdom's divorce from the European Union has been agreed to between the prime minister and the European Union, but it must pass a vote in Britain's Parliament before it is formally adopted. [Full Article...]

Tesla to break ground on Shanghai plant as trade war lingers

Tesla to break ground on Shanghai plant as trade war lingers The challenging environment also includes competition from several start-ups that all want to be like Tesla . The Securities and Exchange Commission , which ended up fining Musk and Tesla $20 million each over the August 7 tweet, as well as removing Musk as chairman and forcing the addition of two independent directors to the board, found in a probe that Musk's relationship with Grimes pla... [Full Article...]

US witnessed stellar hiring in December 2018, employers added 312,000 jobs

US witnessed stellar hiring in December 2018, employers added 312,000 jobs Jobless claims ended the year around the lowest levels since the late 1960s, when the US population was about 62% of its current size. Hiring last month was likely across all sectors. Major stock market indexes, which have seen massive swings in recent weeks, rebounded Friday morning after the labor report was released. The dollar dropped against a basket of currencies, while U.S. [Full Article...]

UK house prices take pre-Brexit hit - Nationwide

UK house prices take pre-Brexit hit - Nationwide The Outer Metropolitan area fell by 1.4 per cent to see house prices fall to £356,531. Compared with a year earlier, prices rose by just 0.5 percent compared with a 1.9 percent rise in November. Robert Gardner, Nationwide's chief economist, said that an "unusually uncertain" economic outlook is taking its toll on prices. "We would expect United Kingdom house prices to rise at a low single-dig... [Full Article...]

Stocks Soar, Treasurys Plunge as Fears Subside Over Economic Growth, Fed Policy

Stocks Soar, Treasurys Plunge as Fears Subside Over Economic Growth, Fed Policy On Friday, the Labor Department reported the U.S. added 312,000 jobs in December, much above analyst expectations. Trump's attacks had become so intense that they had raised concerns that he might be considering firing Powell, a development which could send the market into a further tailspin. [Full Article...]

Everything you need to know about the Greggs vegan sausage roll

Everything you need to know about the Greggs vegan sausage roll It is now available in 950 selected stores in the United Kingdom starting today and only costs £1. "Everyone tag Piers Morgan in it to ruin his day", the chain pizza restaurant tweeted Thursday, tagging the Twitter page of Greggs - a United Kingdom bakery that had just been involved in a Twitter squabble with Morgan the day earlier. [Full Article...]

Volvo will release a competitor Tesla Model 3

Volvo will release a competitor Tesla Model 3 The Polestar 2 is set to become serious competitor to Tesla's Model 3 sedan. We expect to start hearing lots more about Polestar 2 in February, leading up to its formal debut at the annual Geneva Motor Show. Google has a similar deal in place with the Renault-Nissan-Mitsubishi Alliance. According to a statement, "The vehicle will go into production shortly after the long-range hybrid Po... [Full Article...]

'Less than meets the eye': Canada adds 9300 jobs amid weak wages

'Less than meets the eye': Canada adds 9300 jobs amid weak wages Employment also increased 0.9 per cent in December and rose 1.9 per cent since December 2017. According to data released by Stats Canada today (Jan. In contrast, the unemployment rate for Canadian-born people was five per cent in the same year. In the Edmonton census metropolitan area, the unemployment rate rose from 6.2 per cent in November to 6.3 per cent in December. [Full Article...]

Marriott breach included 5 million unencrypted passport numbers

Marriott breach included 5 million unencrypted passport numbers When Marriott announced a huge data breach in November , the company estimated that about 500 million people were affected by the incident. More than 8 million encrypted payment cards were involved in the hack . Of those, 354k of the cards were still unexpired by September 2018. They go on to say that there is no evidence that the third-parties had access to the key to decrypt these payment card... [Full Article...]

China to cut bank reserve requirement ratio

China to cut bank reserve requirement ratio Separate reports out Friday noted revived trade talks were set to resume on Monday. The policy move was announced hours after Chinese Premier Li Keqiang told the central bank to make universal cuts of the ratio as part of Beijing's efforts to bolster economic growth having cut the RRR four times past year. [Full Article...]

Major air bag recall

Major air bag recall Ford is recalling over 953,000 additional vehicles with defective airbags that can possibly explode and shoot shrapnel toward drivers and passengers. The recall includes 2010 Ford Edge and Lincoln MKX, the 2010 and 2011 Ford Ranger, the 2010 to 2012 Ford Fusion and Lincoln MKZ, the 2010 and 2011 Mercury Milan, and the 2010 to 2014 Ford Mustang. [Full Article...]

Infiniti's Detroit Auto Show debut is the electric QX Inspiration concept

Infiniti's Detroit Auto Show debut is the electric QX Inspiration concept Eight years after Nissan launched the Leaf electric vehicle, its luxury arm Infiniti is finally the verge of following it down the battery-powered path. In the case of the QX Inspiration concept, the cabin has been hand-crafted using traditional techniques and a choice of materials inspired by a subtle Japanese sensuality. [Full Article...]

Gatwick, Heathrow airports order military-grade anti-drone equipment

Gatwick, Heathrow airports order military-grade anti-drone equipment Gatwick was forced to shut down over the crucial Christmas period after reported drone sightings grounded flights. The anti-drone equipment can detect and jam communications between a drone and its operator and was deployed on a roof at Gatwick. [Full Article...]

Education company to stop collecting on NM student loans

Education company to stop collecting on NM student loans In settling the lawsuit, Career Education Corporation agreed to forgive more than $490 million in debt owed by approximately 180,000 students in 47 states and the District of Columbia. On October 16, a federal judge rejected a challenge to the Borrower Defense Rule , ordering its immediate implementation for students nationwide. Washington students who attended one of the schools that closed ... [Full Article...]

IPhone: Apple is implementing a significantly less-than-expected

IPhone: Apple is implementing a significantly less-than-expected In his letter to investors , Cook touted continued traction in Apple's "non-iPhone businesses", including wearable devices and supplementary services, like iCloud, Apple Pay and the App Store. Companies such as General Motors, Caterpillar and Daimler have all said recently that trade tensions and slower growth in China are damaging their businesses. [Full Article...]

Nissan's Ghosn to appear in Japanese court within 5 days

Nissan's Ghosn to appear in Japanese court within 5 days Ghosn is scheduled to face a Tokyo courtroom Tuesday, his first public appearance since his arrest, as his lawyers demand to know why his detention is continuing. The authorities of Japan are pursuing three different courses of action against the former chairperson of Nissan who has been alleged of financial wrongdoings during his tenure as the chief of Nissan. [Full Article...]

Manufacturing growth slows in December - PMI

Manufacturing growth slows in December - PMI This was higher than the 50.4 recorded in November when it hit a 28-month low, and above the 50.7 reading economists were expecting. Data Friday showed the housing market had its worst 12 months since 2013 previous year, consumers remained reticent about borrowing and a gauge of services, the largest part of the economy, stayed sluggish. [Full Article...]


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