Business

Oil Futures End Slightly Higher Ahead Of Inventory Data

Oil Futures End Slightly Higher Ahead Of Inventory Data Al-Falih rejected President Trump's claim that OPEC is keeping oil prices elevated, but, at the same time, he told reporters that Saudi Arabia has 1.5 million barrels per day in additional spare capacity that it can bring online. The move effectively rebuffed Trump's calls on oil producers to take action. "The sanctions on Iranian oil are credit negative for Indian refiners because their... [Full Article...]

SEC sues Elon Musk over tweet, seeking his ouster from Tesla

SEC sues Elon Musk over tweet, seeking his ouster from Tesla But they were still informal talks that didn't justify Musk tweeting a week later that funding had been secured for a buyout at $420 per share. On Aug. The SEC said Tesla's head of investor relations responded thusly: "I can only say that the first tweet clearly stated that "financing is secured". Musk had a way to avoid going to court, and he didn't take it. [Full Article...]

Trump's election meddling charge against China escalates pressure campaign

Trump's election meddling charge against China escalates pressure campaign During his roughly 10-minute speech, Trump made no reference to US allegations against Russian Federation concerning the election that brought him to power. The senior official insisted, however, there was a growing sense within the White House that Mr Trump needed to issue a high-profile reminder that China was another powerful rival, besides Russian Federation, waging "hybrid warfare" ag... [Full Article...]

Facebook says 50 million user accounts affected by security breach

Facebook says 50 million user accounts affected by security breach Attackers stole Facebook access tokens through its " view as " feature, which they could then use to take over people's accounts. "It's why we've taken immediate action to secure these accounts and let users know what happened". Source of the attack and who was behind it also remain unidentified, according to Facebook. Facebook said it was unclear if any hackers had used the flaw to access the... [Full Article...]

Fears about Musk's future sink Tesla shares

The SEC is suing Musk and seeking to bar him from being an officer or director at any public company . Musk later denied he was 'on weed' when posting the tweets. Musk, 47, is the public face of Tesla and J.P. Morgan analyst Ryan Brinkman questioned how easy it would be for the US$50-billion manufacturer, which is still losing money, to raise funds at affordable rates without him. [Full Article...]

High US Gasoline Prices Buck The Trend Even As Demand Falters

Global benchmark Brent is on course for its fifth consecutive quarterly increase, the longest stretch since early 2007, when a six-quarter run led to a record high of US$147.50 a barrel. Crude oil prices touched new four-year highs yesterday as Brent crude - the global benchmark for crude oil - touched $82.20 a barrel. Zanganeh said if Trump wanted prices to ease then he had to "stop his unwarr... [Full Article...]

Volunteering for Tesla in delivery hell

Volunteering for Tesla in delivery hell Tesla is launching a new door-to-door delivery service as it rushes to move as many vehicles as possible. Tesla boss Elon Musk has announced that the company has built its own vehicle transporter trailers amid its difficulty in delivering the Model 3 . [Full Article...]

Fed Again Hikes Interest Rates

Fed Again Hikes Interest Rates But concern is growing that China won't change its practices, the higher tariffs on US and Chinese goods will become permanent and both economies - the world's two largest - will suffer. He speaks on "Bloomberg Daybreak: Australia". Donald Trump's combative trade steps complicate the Fed's decision-making. Fed officials remained skeptical that Trump's tax cuts will result in a persistent boost... [Full Article...]

Trudeau dismisses Trump's NAFTA attack, says Canadians are tough

Lighthizer said the timetable for the new deal was set up so Pena Nieto can approve it before he leaves office on November 30 - an arrangement that's acceptable to Lopez Obrador. -Mexico-Canada pact, or USMC, said Lighthizer. Tariffs are paid by importers of products, not foreign countries, and USA business executives have said they will probably be forced to pass these costs on to consumers. [Full Article...]

Rupert Murdoch ends Sky control with Comcast stake sale

Rupert Murdoch ends Sky control with Comcast stake sale The move comes days after Comcast made a successful bid of £30.6 billion ($40 billion) for a controlling stake in Sky. The move lets Fox focus on another megadeal underway: The majority of the company will be sold to Walt Disney Co .in a $71 billion transaction that's slated to close next year. [Full Article...]

Oil Gains After U.S. Holds Fire on Opening Reserves

In this sense, if you are a WTI trader, you can use the Brent market as a bit of a leading indicator. Several European diplomats said the SPV idea was to create a barter system, similar to one used by the Soviet Union during the Cold War, to exchange Iranian oil for European goods without money changing hands. [Full Article...]

US Federal Reserve raises key interest rate by 25 bps

That wording had become less and less accurate since the central bank began increasing rates in late 2015 from a near-zero level, and its removal means the Fed now considers rates near neutral. "Under the current set of economic circumstances, the Fed seems to want to get the fed funds rate to 3 percent and possibly then some", said Peter Boockvar, chief investment officer at the Bleakley Adviso... [Full Article...]

Nafta: Donald Trump says U.S. 'not getting along' with Canada

Nafta: Donald Trump says U.S. 'not getting along' with Canada Trump said Wednesday that Trudeau had sought a meeting with him during the United Nations General Assembly in NY, but Trump refused to participate because he doesn't like how Canada was approaching the trade discussions. "Canada has a long way to go". "Canada has treated us very badly". The US made a deal with Mexico in August, but stakeholders on both sides of the border have urged for the US t... [Full Article...]

Lighthizer hints Mexico pact may need to be reopened if delayed — NAFTA

U.S. Trade Representative Robert Lighthizer hinted that the United States and Mexico may proceed with a new trade deal without Canada as the Sunday deadline looms. "It would be unfair to all the people that have been involved - certainly the USA workers, farmers and ranchers - to start a new negotiation with a new president of Mexico". [Full Article...]

Oil hits four-year high as OPEC, allies maintain supply cut

Oil hits four-year high as OPEC, allies maintain supply cut Falih said Saudi Arabia had spare capacity to increase oil output but no such move was needed at the moment. The estimates from this year's report are a slight increase from those of the previous year. Even so, OPEC predicted a dip in demand growth between 2035 and 2040. That's up from 97.2 million past year. Still, a trade standoff between the USA and China could put global economic growt... [Full Article...]

Has Iran Started To Switch Off Oil Tanker Tracking Systems?

Iran is the third biggest producer of oil in the Organization of the Petroleum Exporting Countries (OPEC). In a speech at the United Nations, Trump ratcheted up pressure on OPEC nations with a threat to demand payment for USA military protection after they ignored his call last week to reduce prices. [Full Article...]

Michael Kors acquires Versace for $2.1 billion

Michael Kors acquires Versace for $2.1 billion Founded in 1978 and taken over by Donatella Versace 20 years ago, the iconic fashionista called this "a very exciting moment" for the brand. As for the value of his brand, Michael Kors is said to have brought in $839.1 million in 2016. [Full Article...]

Theresa May rejects calls for a general election over Brexit

Theresa May rejects calls for a general election over Brexit Mrs May is set to have a bilateral meeting with the US President Donald Trump on Wednesday, and has rejected claims her Chequers plan means the United Kingdom would not be able to strike a trade deal with the US. Britain's Brexit Secretary Dominic Raab. The pressure on the Prime Minister intensified with the confirmation over the weekend by Mr Corbyn that Labour will vote against any deal based ... [Full Article...]

Establishment Media Sides with Countries Laughing at America at United Nations

Establishment Media Sides with Countries Laughing at America at United Nations Trump has pulled the US out of a nuclear agreement with Iran while signing an agreement in principle with North Korea to abandon its nuclear program. He also talked up his administration's relationship with North Korea and its progress towards denuclearisation. Trump used his UN address previous year to bash the nuclear deal as "an embarrassment", signaling that the United States was re... [Full Article...]

Blow to Facebook as Instagram co-founders quit

Blow to Facebook as Instagram co-founders quit Facebook acquired Instagram in April 2012 for a combination of cash and stock worth some $1 billion at the time . Instagram is considered one of Facebook's more popular products, even as growth slows at the social media giant, according to the WSJ. [Full Article...]


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