Business

"Going loco" Federal Reserve threatens to bring Trump's bull market crashing down

Earlier this week, the International Monetary Fund downgraded its forecast for global economic growth, in part due to rising rates. Nope, it's the insane ol' Fed under that chair Jerome Powell . Trump by turns called the Fed " crazy " and "loco" and said it was being "too aggressive in raising rates", blaming the institution for the market declines that saw the benchmark Dow Jones Industrial Av... [Full Article...]

What Facebook hackers can see

What Facebook hackers can see Asked whether Facebook could provide any further insight into the identity, location, or intentions of the attacker (s), Rosen said Facebook has been working with the FBI to investigate the incident and the agency asked the company to refrain from discussing who might be responsible. [Full Article...]

World's longest flight from Singapore to NY takes off

World's longest flight from Singapore to NY takes off In November 2013, Singapore Airlines had terminated its Singapore-Newark non-stop flights after about five years of operation as the A340-500, four-engine fuel guzzler aircraft with only 100 business class seats on board made it uneconomical. [Full Article...]

James Murdoch In Driver’s Seat To Replace Elon Musk As Tesla Chairman

James Murdoch In Driver’s Seat To Replace Elon Musk As Tesla Chairman Tesla has to pay a separate $20 million fine, which the SEC said will be returned to investors. That risked jeopardizing the hard-fought deal, which also requires Tesla to add two new independent directors. He resigned from the board of Sky this week, following Comcast's successful bid for the European satellite broadcaster. James Murdoch , who will soon be stepping down as chief executive ... [Full Article...]

Trump, Xi to meet amid trade war tensions

Trump, Xi to meet amid trade war tensions That's significantly higher than the $196 billion recorded between January and September a year ago. China's record high surplus with the USA could add to tensions in the trade relationship between the world's two largest economies. Economists warn that a protracted dispute will eventually stunt growth not just in the USA and China but across the broader global economy. The yuan has lost almos... [Full Article...]

International Monetary Fund upgrades outlook on Russian Federation as economy recovers

International Monetary Fund upgrades outlook on Russian Federation as economy recovers The fund expects U.S. economic expansion to peak at 2.9 per cent this year and start to slow down next year as the economic stimulus introduced in the wake of the 2008 global credit crisis begins to wind down and tariff impact begins to hurt. [Full Article...]

Trump says he knows economy better than Federal Reserve chair

Trump says he knows economy better than Federal Reserve chair But history and precedent tell us that the Fed's ability to cause a sudden stock market crash may actually be limited. On Wednesday, the Dow fell 831 points, or 3.1 percent, to 25,598. Concerns about higher rates have roiled the U.S. Treasury market, where yields have risen to multi-year highs. The Fed aims to raise rates to about 3 percent. [Full Article...]

FT: British PM May briefs inner Cabinet that Brexit deal is close

FT: British PM May briefs inner Cabinet that Brexit deal is close The OBR said weaker economic activity and higher prices could result from a no-deal Brexit . Instead she proposed Britain as a whole stay temporarily aligned with the EU's customs union until a wider trade deal is agreed. The agreement will also see Northern Ireland remain within the single market in a bid to avoid a hard border on the island of Ireland , should both sides fail to secure a tra... [Full Article...]

WB - Global economy is not strong enough: Lagarde

WB - Global economy is not strong enough: Lagarde Share markets in Asia plunged to a 19-month low yesterday after Wall Street's worst losses in eight months led to broader risk aversion, partly due to the heated global trade tensions, as well as rapidly rising USA dollar yields. "It's tempting to be a bit depressed about this perspective but I'm actually hopeful because there is a clear appetite to improve and expand trade", she said. [Full Article...]

Dow industrials sink 831 points as tech companies plunge

Dow industrials sink 831 points as tech companies plunge USA shares are set for big declines when markets open Thursday. Apple and Amazon both had their worst day in two and a half years. Brent crude, the global standard, dropped $1.58 to $81.51 a barrel. The tech sector was hit hardest, with Netflix down almost 7 per cent, Amazon down 5 per cent and Apple, Google and Facebook all down more than 3 per cent. [Full Article...]

Fed's interest rate increases 'don't have to go as fast'

Fed's interest rate increases 'don't have to go as fast' Trump , who has been critical of the central bank's interest rate increases, tells reporters after landing in Erie, Pennsylvania, that he thinks "the Fed is making a mistake ". An additional 1.5-percentage-point fall would confirm a correction for that index. The President said this week he prefers lower interest rates but added he would not speak directly to his Fed chairman appointee Jerome P... [Full Article...]

International Monetary Fund predicts 7.3% growth rate for India in current fiscal year

International Monetary Fund predicts 7.3% growth rate for India in current fiscal year The IMF said higher trade barriers could disrupt global supply chains, slow the spread of technology and ultimately lower global productivity and welfare. The People's Bank of China announced on Sunday that it would add more liquidity to the economy by cutting the amount of cash that banks must hold as reserves at the central bank. [Full Article...]

Global stocks tumble after Trump 'crazy' Fed comment

The S&P 500 was down 1.9 percent, and the tech-heavy Nasdaq saw losses of 2.3 percent. Despite Wednesday's sell-off, the S&P 500 would still need to more than double its losses. Stocks have been under pressure since the yield on 10-year US Treasury bonds jumped above three percent last week, a sudden move that raised fears of an overheating economy, speeding inflation and more aggressive Feder... [Full Article...]

Sears prepares to file for bankruptcy in coming days

Sears prepares to file for bankruptcy in coming days Securities and Exchange Commission. Lampert's efforts to keep Sears out of bankruptcy have included shedding hundreds of unprofitable stores: Sears and Kmart had some 3,500 locations when they merged under Lampert in 2005; now there are about 900 nationwide. [Full Article...]

Dow Falls 430 Points as Bond Yields Surge and China Tensions Grow

And tech stocks got hit particularly hard. "The direct concern is higher interest rates", said Rick Meckler, partner, Cherry Lane Investments, a family investment office in New Vernon, New Jersey. Wednesday's drop should be placed in perspective. The S&P 500 posted 12 new 52-week highs and 47 new lows; the Nasdaq Composite recorded 12 new highs and 227 new lows. [Full Article...]

Pixel 3 launch: Google to unveil iPhone challenger and smart home hub

Pixel 3 launch: Google to unveil iPhone challenger and smart home hub Home Hub is launching in the United States, the U.K. and Australia. It can also bring up contextual info like commute times. The iPhone also features Google's search engine, but Google may be paying Apple as much as $9 billion annually for that privilege, based on the estimates of Goldman Sachs analyst Rod Hall. [Full Article...]

Pressured by Report Saudi Arabia Stands Ready to Cover Shortfall

Pressured by Report Saudi Arabia Stands Ready to Cover Shortfall Iran's crude exports fell further in the first week of October as buyers sought alternatives ahead of USA sanctions that take effect on November 4, according to tanker data and an industry source. Iran has warned that if it can not sell its oil due to U.S. pressure, then no other regional country will be allowed to do so either, threatening to block the Strait of Hormuz. [Full Article...]

International Monetary Fund warns Pakistan against ‘excessive loans’ from China

International Monetary Fund warns Pakistan against ‘excessive loans’ from China The IMF's World Economic Outlook report, unveiled on the eve of its upcoming summit in Bali, Indonesia, estimated that global growth in 2018 would reach 3.7 percent, the same as the previous year but lower than the 3.9 percent it had forecast earlier this year. [Full Article...]

Brent crude drops below $83 on expectations Iran will maintain some exports

Brent crude drops below $83 on expectations Iran will maintain some exports The details provided by Refinitiv Eikon showed the Islamic Republic exported 1.1 million barrels per day (bpd) of crude last week. Prince Mohammed told Bloomberg on Friday that the kingdom had met its promise to Washington to make up for Iranian oil supplies lost through USA sanctions, reimposed when the United States exited a 2015 nuclear deal between Tehran and six powers. [Full Article...]

International Monetary Fund predicts India will grow at 7.3% in 2018-’19

International Monetary Fund predicts India will grow at 7.3% in 2018-’19 Bond markets were closed, leading USA indexes to a mixed finish after a day of light trading. But it predicts that USA growth will slow to 2.5 percent next year as the effect of recent tax cuts wears off and as President Donald Trump's trade war with China takes a toll. [Full Article...]


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