Business

Sears to close 80 more stores as bankruptcy deadline nears

Sears to close 80 more stores as bankruptcy deadline nears Sears, which hasn't been profitable since 2010, has already begun the painful process of dramatically downsizing, announcing the shuttering of almost 200 stores over the last three months and reportedly looking into closing 50 to 80 stores in the near future. [Full Article...]

Dow Jones soars more than 1,000 points in largest single-day increase

Dow Jones soars more than 1,000 points in largest single-day increase The S&P 500 index fell 47 points, or 1.9 percent, to 2,420 as of 3:05 p.m. Kevin Hassett, chairman of the White House Council of Economic Advisers, said on Wednesday that Fed chairman Jerome Powell's job was not in jeopardy. At the same time, it's not a real shocker that the president is not too happy that the Fed made a decision to jack up interest rates again. "I think the market is re... [Full Article...]

Minimum wage hike in effect December 31

Minimum wage hike in effect December 31 According to the NECA boss, seven weeks after the report was submitted by a National Minimum Wage Committee inaugurated by the President, the government was still planning to subject the report to a review by another technical committee. So far, major cities that have implemented the $ 15 minimum wage , including San Francisco and Seattle, have not seen the significant job losses predicted by so... [Full Article...]

Amazon breaks own records this holiday

Amazon breaks own records this holiday We are thrilled that in the USA alone, more than one billion items shipped for free this holiday with Prime , ” said Jeff Wilke, CEO Worldwide Consumer, in a December 26 news release . What's going on? @amazon @AmazonUK @AmazonHelp #alexa @awscloud #AmazonEcho #amazondot - leanne jones (@leannej76360662) December 25, 2018 After about two hours, Amazon's customer service account acknowledged the... [Full Article...]

CenturyLink outage affects Minnesota customers

CRESA spokesman Eric Frank was quoted as saying by The Columbian that the outages appeared to be affecting 911 services across the state. The alert, which listed an alternative 911 number, appears to be sent via the Wireless Emergency Alerts (WEA) system that launched in 2012 and warns the public about unsafe weather, missing children, and other situations. [Full Article...]

New Yorkers report blue light over the city after transformer explosion

New Yorkers report blue light over the city after transformer explosion They said a fire that broke out at the facility Thursday night is under control and no injuries have been reported. "As soon as we have more information, we will share it". New Yorkers had been advised to avoid the area 20th Avenue and 31 Street in Queens, and to expect a heavy presence of emergency personnel in the area. [Full Article...]

'I do' have confidence Treasury Secretary Mnuchin

'I do' have confidence Treasury Secretary Mnuchin Speaking to reporters in the Oval Office after a Christmas video conference with USA troops deployed overseas, Trump also said US companies were " the greatest in the world " and presented a "tremendous" buying opportunity. He had "great confidence" in the American company. We are absolutely committed to that mission and nothing will deter us from doing what we think is the right thing to do. [Full Article...]

Modi govt crackdown on Amazon, Flipkart to hurt online shoppers

Modi govt crackdown on Amazon, Flipkart to hurt online shoppers Those sellers can then sell the products to other companies or direct to consumers, often at attractively low prices. Walmart in May spent $16 billion to acquire Amazon's primary rival in India, online retailer Flipkart. Ecommerce marketplace entity will not mandate any seller to sell any product exclusively on its platform only. "This new development creates a level playing field for smal... [Full Article...]

White House considers new year executive order to bar Huawei, ZTE purchases

White House considers new year executive order to bar Huawei, ZTE purchases The two companies have been accused in the past of violating global sanctions resulting in conflict with the U.S. There is also a general belief by many in government that the two companies may be embedding technology in their equipment that could be used to spy on the U.S. [Full Article...]

Tokyo stocks rebound after Christmas slump

Tokyo stocks rebound after Christmas slump Japanese stocks recovered slightly on Wednesday after suffering their worst finish in nearly two years, but other Asian markets were mixed after President Donald Trump marked Christmas with a renewed attack on the Federal Reserve . Although the chairman of the Federal Reserve, Jerome Powell, was nominated by Trump, the Fed is not under the control of the White House, much to Trump's consternation... [Full Article...]

Boxing Day shoppers queue in Scotland from 2:45am to nab bargains

Boxing Day shoppers queue in Scotland from 2:45am to nab bargains Separate research by Barclaycard showed that nearly 70% of those who planned to shop in the Boxing Day sales said they would make the majority of purchases online - up a massive 42% since a year ago. John Lewis started its clearance online at 5pm on Christmas Eve, with reductions on homewares and electrical products. Samsung TVs were reduced by £700 and the price of the Lenovo IdeaPad was sl... [Full Article...]

Dow notches record point surge in dramatic rebound

Dow notches record point surge in dramatic rebound Wall Street rebounded last night following the worst Christmas Eve sell-off ever and a dismal stock market performance throughout December. USA stocks posted their worst Christmas Eve session ever on Monday, as a ideal storm of concerns drove investors to bail out of a market that was already badly bruised. [Full Article...]

Oil prices surge as United States equities soar

Oil prices surge as United States equities soar Crude oil prices plunged more than 6 per cent to the lowest level in more than a year on Monday, pulling back sharply late in the session as fears of an economic slowdown rattled the market. A similar decline was also reported on the Brent stock exchange in London. “I think that during the first half, due to joint efforts, which were confirmed by the OPEC and non-OPEC countries this December... [Full Article...]

Tesla Model 3 costs in China to fall

Tesla Model 3 costs in China to fall It has acquired intensely in idea structures from Tesla's Model X. Ives, meanwhile, focused Wednesday on opportunities in Europe. Elon Musk in October said the company was "excited to bring Model 3 to Europe and China early next year, given that the market for mid-sized premium sedans in those regions is even larger than in North America". [Full Article...]

Is Dunkin’ open on Christmas Day 2018?

Is Dunkin’ open on Christmas Day 2018? Starbucks: Many locations for the coffee chain are open, but hours vary. Lots of people chose to get their last-minute holiday shopping done this Christmas Eve, and most of those who spoke to Viteri said the lines weren't too bad. High street retailers have cut prices after trading on the busiest shopping day of the year, dubbed "Super Saturday", failed to lure shoppers to stores. [Full Article...]

Massive Christmas Mega Millions Jackpot Drawn

Massive Christmas Mega Millions Jackpot Drawn The grand prize has grown to $321 million after a nine-week spell without a victor. Mega Millions isn't the only jackpot growing, as Powerball's estimated jackpot is $294 million ahead of Wednesday's drawing. Tuesday's Mega Millions jackpot was a gift that could even impress Santa himself. The ticket was sold in SC to someone who has yet to come forward, Mega Millions said. [Full Article...]

Ghosn detention extended by 10 days

Ghosn detention extended by 10 days He was given a second arrest warrant on December 10 for allegedly understating an additional 4.27 billion yen (38.4 million dollars) for the three years through March this year. Ghosn has told embassy visitors he is well treated, and sources at French auto giant Renault have described his frame of mind as "combative" as he fights the charges against him. [Full Article...]

British police release Gatwick drone suspects without charge

British police release Gatwick drone suspects without charge Sussex Police have now confirmed they arrested a 47-year-old man and a 54-year-old woman from Crawley on Friday night in relation to the "criminal use of drones". No group has claimed responsibility for the drone flights. The flights got disturbed for over 36 hours. According to Reuters at the time, the devices reappeared near the airport each time authorities attempted to reopen the runway f... [Full Article...]

Trump once boasted of market gains, now tweets cause drops

Trump once boasted of market gains, now tweets cause drops The Nikkei 225 slid by five percent and has declined by 21 percent since early October. The Russell 2000 index of smaller-company stocks gave up 25.16 points, or 2 per cent, 1,266.92. While stocks had been pairing losses, Trump himself sent them back into a tailspin with a Tweet slamming the Fed, and prompting increased speculation that he was prepared to fire Fed chairman Jerome Powell. [Full Article...]

Oil market likely to rebalance early 2019: OPEC ministers

Oil market likely to rebalance early 2019: OPEC ministers OPEC is said to deepen output cuts. Meanwhile, WTI crude oil futures fell 4.9% ton $43.4 per barrel and Brent crude was down 4.9% to $51.2 per barrel. USA stocks marked their worst daily declines in history on the trading day before the Christmas holiday, with the Dow Jones Industrial Average and the S&P 500 index recording losses of almost three percent on the day. [Full Article...]


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