Money

Money IMF Cuts Forecast for Global Growth as Trade War Takes Its Toll
Author: 0 IMF Cuts Forecast for Global Growth as Trade War Takes Its Toll

Japan's benchmark Nikkei 225 fell 1.3 per cent to 23,469.39. Global trade tensions would also have a bearing on the eurozone's 2018 growth forecast, which was cut to 2 percent from 2.2 percent previously. The new forecasts, released on the Indonesian resort island of Bali where the International Monetary Fund and World Bank annual meetings are getting underway, show that a burst of strong growth, fueled partly by USA tax cuts and rising demand for imports, was starting to wane.

Money Rocked by Trump's sanctions, Iranian oil exports drop further
Author: 0 Rocked by Trump's sanctions, Iranian oil exports drop further

Refiners have already announced purchases of oil from Iran for November at levels nearly similar to those in October, despite the start of the sanctions on the 4 November. Traders sent global benchmark Brent crude tumbling below $83 per barrel early in the session after China's central bank on Sunday slashed lenders' reserve requirements, a signal Beijing is working to maintain economic growth.

Money U.S. Sanctions cause Oil Value to Rise
Author: 0 U.S. Sanctions cause Oil Value to Rise

USA sanctions will target Iran's crude oil exports from November 4, and Washington has been putting pressure on governments and companies worldwide to cut their imports to zero. The situation is not helped by analytical prognostications that in some cases are extremely erratic, case in point: Goldman Sachs , which over the past week has changed its mind repeatedly about if other nations can make up for the Iranian shortfall and whether prices will or will not spike.

Money Unemployment lowest in U.S. since 1969
Author: 0 Unemployment lowest in U.S. since 1969

Ahead of the report , Spencer Hill, an economist at Goldman Sachs, said that Hurricane Florence , which impacted the Carolinas in mid-September, were likely to weigh on Friday's headline job gains, and a 17,000 job drop in the leisure & hospitality industry shows signs of an impact from the storm.

Money UK's May aims to gain Conservative control after storm Boris
Author: 0 UK's May aims to gain Conservative control after storm Boris

Prime Minister Theresa May used her keynote speech at Conservative Party Conference to announce an extra £394 million per week for a new cancer strategy, a freeze on fuel duty, and attacked Labour calling the antisemitism row that has smothered the party "a national tragedy".

Money Elon Musk mocks SEC just days after Tesla settlement - Roadshow
Author: 0 Elon Musk mocks SEC just days after Tesla settlement - Roadshow

The SEC initially put forward a proposal that would have enabled Musk to stay on as CEO and step down as chairman for two years. The SEC and Tesla did not immediately respond to requests for comment. It seems that the committee will start overseeing things in a few months, so we have about 80 days remaining of potential Twitter adventures with Musk .

Money Petrol, Diesel Is Now Cheaper By Rs 5/Litre! Find Out How?
Author: 0 Petrol, Diesel Is Now Cheaper By Rs 5/Litre! Find Out How?

Most of the BJP-NDA States did so. Opposition-ruled Bengal, Kerala and Karnataka, which had cut their Value-Added Tax rates on auto fuels by Re 1 to Rs 2 per litre last month, have said they will not cut rates again. The Finance Minister said the excise duty cut would have an impact of Rs 10,500 crore on central government's tax revenues. Several states had announced reduction in fuel prices by cutting sales tax/VAT.

Money Canadian PM hails USMCA as trilateral win
Author: 0 Canadian PM hails USMCA as trilateral win

Vermont Sen. Bernie Sanders, an independent who sought the 2016 Democratic presidential nomination, said that while the plan included "some improvements that could be good for USA workers, it lacks enforcement mechanisms that are necessary for these policies to succeed".

Money Local dairy farmers would benefit from new NAFTA deal
Author: 0 Local dairy farmers would benefit from new NAFTA deal

This one earns a rating of "some baloney". It limits the production of eggs, poultry and dairy in Canada. Chris Groenendijk, of the 300-acre Green Dike Farm in Westholme, near Crofton, where 150 cows are milked, said such agreements chip away at Canada's dairy sector.

Money More than 1,200 Toyota cars in Ireland affected by safety recall
Author: 0 More than 1,200 Toyota cars in Ireland affected by safety recall

The carmaker is recalling 2.43 million of its hybrid vehicles worldwide, including 1.25 million in Japan, 807,000 in the United States, 290,000 in Europe and 3,000 in China. To fix the problem, Toyota will update software in the vehicles. "If this occurs, the vehicle could lose power and stall". As the world's best-selling vehicle brand, our in-depth survey also covers the reliability of Toyota cars.

Author: 0 'We will not stand down,' VP Pence warns China

China hit back furiously on Friday, branding Pence's accusation as "ridiculous", groundless and slanderous. Pence also accused China of "reckless harassment" because of an incident on Sunday in which a US destroyer, the Decatur , traveled within 12 nautical miles of Gaven and Johnson Reefs in the Spratly Islands in the disputed South China Sea.

Money Tesla's Musk appears to mock US SEC on Twitter after settlement
Author: 0 Tesla's Musk appears to mock US SEC on Twitter after settlement

Tesla also accepted a $20m fine, despite not being charged with fraud . Musk has long waged a rhetorical war against shortsellers-investors who borrow shares of Tesla in order to profit if the price drops. But the deal didn't prevent the free-wheeling Musk from continuing to speak out about other subjects - a liberty he took advantage of to bash the SEC in a Thursday tweet that indicated he is still stewing about the allegations filed against him.

Money Mexican, Canadian steel lobbies urge fix to U.S. tariff dispute
Author: 0 Mexican, Canadian steel lobbies urge fix to U.S. tariff dispute

But he stressed the government is committed to compensating them for any financial hit. "They're obviously concerned about the continuing erosion of our marketplace and the true loss of revenue and income", he said. Kansas legislators applauded the agreement, including U.S. Rep. Roger Marshall who served as a negotiator for the deal several months ago in Mexico City.

Money Chinese government reportedly used microchips to hack American companies
Author: 0 Chinese government reportedly used microchips to hack American companies

Apple reportedly had 7,000 Super Micro servers operating inside the company, all of which may have been compromised. "Public documents, including the company's own promotional materials, show that the servers have been used inside Department of Defense data centers to process drone and surveillance-camera footage, on Navy warships to transmit feeds of airborne missions, and inside government buildings to enable secure videoconferencing", Bloomberg reports.

Money Fuel prices on the boil again, diesel breaches Rs 80 in Mumbai
Author: 0 Fuel prices on the boil again, diesel breaches Rs 80 in Mumbai

The shares of Indian oil marketing companies tumbled after Finance Minister announced the decision to cut down the fuel prices to the tune of Rs 2.50 per litre. Jaitley said the move followed Brent crude oil touching a four-year high of $86 a barrel on Wednesday and interest rates in United States reaching a seven-year high.

Money Rupee falls below 73 for first time as crude approaches $85
Author: 0 Rupee falls below 73 for first time as crude approaches $85

The current account has faced additional pressure as India, like many emerging market economies, has also suffered due to rising US interest rates drawing investors away. A liquidity scare erupted last month after a series of debt defaults by Infrastructure Leasing & Financial Services (IL&FS) sparked redemption pressure at other shadow banking companies.

Money Trade deal's new name has Trump written all over it
Author: 0 Trade deal's new name has Trump written all over it

Trump's aggressive tearing up of long-standing United States trade deals - with everyone from its two huge neighbours to China and the European Union - has rattled world leaders and sparked fears of economic turmoil. He said the protections for Canadian dairy were necessary because otherwise Canada might've backed out of the deal. It limited imports of those dairy products from the USA and drew criticism from President Donald Trump , who claimed it was "unfair".

Money Donald Trump, Saudi king discuss oil supply
Author: 0 Donald Trump, Saudi king discuss oil supply

U.S. West Texas Intermediate (WTI) crude futures were up 24 cents, or 0.3 percent, at $75.54 a barrel. The oil price is little changed at close to $85 per barrel, Tuesday. Brent was pushed up by the looming sanctions against Iran, which will start targeting its oil sector from November 4. "Worries about trade relations affecting economic growth have fallen away".

Money Amazon Raises Minimum Wage for U.S. Workers to $15 Per Hour
Author: 0 Amazon Raises Minimum Wage for U.S. Workers to $15 Per Hour

Amazon has "listened to its critics" and drastically increased pay for 37,000 British workers. In 29 states and Washington, D.C., it's higher than the federal rate. The last hiring figures from the U.S. Commerce Department showed that in August, the pace of hiring rose again and wages grew at their fastest pace in nine years.

Money Tesla shares soar after Musk gets ousted as chairman
Author: 0 Tesla shares soar after Musk gets ousted as chairman

Now, the company has to hire a chairman to replace Musk (something corporate governance experts have suggested for years), along with 2 new independent directors. Hitting production and delivery targets has become increasingly important for Tesla's relationship with Wall Street investors after the auto maker struggled to increase production to meet demand of its new Model 3 electric vehicle.

Money Official says basis of Canada-US deal reached
Author: 0 Official says basis of Canada-US deal reached

President Trump, however, says he is not hopeful the next deal will be approved by Congress in the next year, saying 2020 election politics could hold up passage. The president said the name has a "good ring to it", repeating U-S-M-C-A several times . Mexican President-elect Andres Manuel Lopez Obrador has embraced the new deal, his incoming foreign minister said.

Author: 0 Amazon will raise company's minimum wage to $15 for all U.S. employees

And five states have laws that don't require a minimum wage at all, according to the Department of Labor . What's more, Amazon (amzn)-the second-largest private-sector employer in the US -is now lobbying the government to increase the federally-mandated minimum wage, set nine years ago, from $7.25 an hour.

Money Canada and U.S. agree last-minute trade deal
Author: 0 Canada and U.S. agree last-minute trade deal

Known as the United States-Mexico-Canada Agreement (USMCA), the deal agreed ahead of a midnight deadline Sunday will replace the North American Free Trade Agreement (NAFTA ), which Trump had called a "disaster". The new trade pact is significantly better than an all-out trade war, but won't be a game changer for Canadian growth, said CIBC chief economist Avery Shenfeld.

Money Facebook Security Breach Hits 50 Million Accounts And Might Affect Instagram Too
Author: 0 Facebook Security Breach Hits 50 Million Accounts And Might Affect Instagram Too

To explain this feature better, take this example- say you have created a post which you want to show to all your Facebook Friends except one of your colleagues. But it definitely is an issue that this happened in the first place. Zuckerberg has tried mightily to assure consumers and lawmakers that the site is doing everything in its power to protect personal information while tamping down on foreign meddling during elections.

Money New California internet neutrality law sparks US lawsuit
Author: 0 New California internet neutrality law sparks US lawsuit

FCC Chairman Ajit Pai, who led the effort to reverse net neutrality, said in a statement on Sunday that "not only is California's internet regulation law illegal, it also hurts consumers". "Courts have consistently held that when the federal government lacks authority to regulate, it can not preempt states from regulating", said Andrew Schwartzman, a lecturer in public interest law at Georgetown University.

Money Elon Musk to give up role of Tesla chairman
Author: 0 Elon Musk to give up role of Tesla chairman

You're looking at photos of the next-gen Tesla Roadster sent to us by a reader in the US. Investors anxious that heralded a long-drawn out fight with the regulator that would see Tesla lose its talismanic leader, undermine its ability to raise capital and cripple operations as it ramps up production of its crucial Model 3 sedan.

Money Elon Musk’s
Author: 0 Elon Musk’s "Funding Secured" Tweet Just Cost Him & Tesla $40 Million

The SEC alleged in a lawsuit on Thursday that the tweets about financing for a go-private plan he abandoned just weeks later had no basis in fact, and said the market chaos that ensued hurt investors. The SEC wrote in its complaint that Musk's August 7 statements "created the misleading impression that certain terms of a transaction to take Tesla private had been determined when, in fact, they had not even been explored, and in some cases, proved to be impossible".

Money Nearly 50 million facebook users hit by security issue
Author: 0 Nearly 50 million facebook users hit by security issue

An access token keeps you logged into Facebook so you don't need to enter your password each time you visit the site or app. The company has already alerted law enforcement and says it has patched the vulnerability. But they have informed Irish data regulators where Facebook's European subsidiary is based. MANILA, Philippines - Facebook on early Saturday morning, September 29 (September 28, United States time), explained why people got logged out of their Facebook accounts .

Money Deals: National Coffee Day 2018
Author: 0 Deals: National Coffee Day 2018

On Saturday, September 29, the nation will come together over a warm cup of joe and celebrate the one thing we can all agree on: that coffee is delicious. Caribou Coffee: Any food purchase comes with a free coffee! Cumberland Farms: Text FREECOFFEE to 64827 to receive a free coffee coupon. For a limited time with the Ibotta smartphone app , get a free 2-ounce single coffee shot at Walmart after rebate.

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