Money

Author: 0 Sudden jump in U.S. interest rates prompts Wall Street stock plunge

Berkshire Hathaway dipped 4.7 per cent to US$213.10 and reinsurer Everest Re slid 5.1 per cent to US$217.73. Japan's Nikkei 225 added 0.2 percent, South Korea's Kospi dropped 1.1 percent and the Hang Seng in Hong Kong gained 0.1 percent. The stock fell 15 per cent to 50 cents. The increase in yields from these bonds - which are parcels of United States government debt - can hurt stocks since they will provide competition for investors' cash.

Money Sears bankruptcy filing report sends retailer's stock sinking
Author: 0 Sears bankruptcy filing report sends retailer's stock sinking

Sears is considering filing for bankruptcy protection as soon as this week as it faces a large debt repayment on Monday, reports The Wall Street Journal . It could attempt to emerge as a profitable company. The Wall Street Journal quoted sources saying Lampert wants to restructure and is anxious that a bankruptcy filing will lead to a liquidation, which has happened with so many retailers, the most recent being Toys R Us .

Money Google's New $35 Chromecast Plays It Safe
Author: 0 Google's New $35 Chromecast Plays It Safe

There is an optional keyboard case for the Slate, but it costs extra. From its magnetically attached keyboard to its stylus and, of course, its premium pricing, the Pixel Slate is a thinly veiled attack at Microsoft's Surface line, often hailed as the cream of the crop when it comes to productivity in a flexible form factor.

Money Oil prices gain as Iranian crude exports fall, Hurricane Michael nears
Author: 0 Oil prices gain as Iranian crude exports fall, Hurricane Michael nears

US light crude CLc1 was down 5 cents at $74.91. The US administration is "prepared to work with countries that are reducing their imports on a case-by-case basis", the official added . "On the other hand, Iran sanctions are only weeks away". The deal envisaged the removal of nuclear-related sanctions against Iran in return for steps by the country to restrict certain aspects of its nuclear energy activities.

Author: 0 China trade war and Brexit threaten global growth says International Monetary Fund

Both Iran and Russian Federation have condemned the Trump administration for withdrawing from the deal, a move that will reimpose US sanctions suspended under the accord to choke off the Iranian economy. The acceleration relative to 2016-17 reflects a more supportive external environment, including stronger global growth, higher commodity prices, and improved capital market access, following efforts to improve fiscal balances in the aftermath of the commodity price slump.

Money China central bank to cut reserve requirement ratio for fourth time
Author: 0 China central bank to cut reserve requirement ratio for fourth time

The Shanghai Composite Index lost 3.7 per cent, to 2,716.51 points, its worst day since June 19. Shanghai led the retreat as mainland investors returned from a week-long break, during which time China was accused of using microchips in computer equipment sold in the USA as part of a drive to steal technology secrets.

Money IMF lowers China 2019 growth forecast, citing trade war
Author: 0 IMF lowers China 2019 growth forecast, citing trade war

Growth in the 19-nation zone is forecast to slow further to 1.9 percent in 2019, unchanged from the July estimate. This acceleration, the world body said , reflected a rebound from transitory shocks (the currency exchange initiative and implementation of the national Goods and Services Tax ), with strengthening investment and robust private consumption.

Author: 0 India defies US, buying Iranian oil despite sanctions

Speaking to media, IndianOil chairman Sanjiv Singh confirmed his company was among the two which contracted Iranian supplies in November. Singh said options for paying for Iranian oil are under discussions. Oil dropped below $83 a barrel on Monday, pressured by expectations that some Iranian oil exports will keep flowing after the USA reimposes sanctions, easing a strain on supplies.

Money Economists Who Changed Thinking on Climate Change Win Nobel Prize
Author: 0 Economists Who Changed Thinking on Climate Change Win Nobel Prize

Nordhaus of Yale and Paul M. Romer of New York University. Together, Nordhaus' and Romer's works have broadened the scope of economic analysis by creating models that explain how the market economy interacts with knowledge and nature. The applications of the model for the carbon tax has been criticized for several reasons, though. "Humans are capable of unbelievable accomplishments if we set our minds to it", Romer added.

Money Iran refutes Saudi claim that can meet post-sanctions oil demand
Author: 0 Iran refutes Saudi claim that can meet post-sanctions oil demand

He said Indian refiners had started importing oil from the United States but purchases were constrained by US infrastructure. "We do not know if we will get a waiver (from U.S. A U.S. government official said the Trump administration is "in the midst of an internal process" of considering waivers for countries that are reducing imports of Iranian crude.

Money Haulage vehicles move to new Tokyo fish market
Author: 0 Haulage vehicles move to new Tokyo fish market

It was an emotional moment for veterans of the market, which many acknowledge is now too rundown to support its mammoth operations but has been the beating heart of Tokyo's culinary scene for decades. The new site will feature state-of-the-art refrigeration, while tourists will be confined to special galleries behind glass. Sign-up now and enjoy one (1) week free access! "We are sad to lose the Tsukiji brand", vegetable wholesaler Tsukasa Kujirai told AFP on Saturday.

Money India buying Iran oil in defiance of Trump sanctions
Author: 0 India buying Iran oil in defiance of Trump sanctions

Consequently, rising oil supply has added to the pressure observed in the oil complex this morning. The bulk of spare capacity is held by Saudi Arabia. "Therefore India has really nothing to gain and a lot to lose in implementing sanction on Iran and will try all it can to resist it", he tells TradeWinds.

Money Apple tells Congress it found no signs of hacking attack
Author: 0 Apple tells Congress it found no signs of hacking attack

Apple's Vice President for Information Security Goerge Stathakopoulos in a letter to the Senate and House commerce committees said that Apple made repeated investigations but did not find any evidence whatsoever which support the claims made in the Bloomberg report.

Money India to continue buying Iranian crude despite U.S. sanctions threat
Author: 0 India to continue buying Iranian crude despite U.S. sanctions threat

White House National Security Advisor John Bolton said only last week that the administration wanted to avoid all waivers and see Iranian oil and gas exports entirely staunched, but that it might not be able to achieve that aim. "Bijan Zanganeh was quoted as saying on his ministry's website: "(Mohammed) bin Salman's remarks can only satisfy (U.S. President Donald) Trump . The government was discussing its options to buy Iranian oil with all authorities, Pradhan said.

Money Was My Facebook Hacked? Viral Hoax May Have Tricked You, Too
Author: 0 Was My Facebook Hacked? Viral Hoax May Have Tricked You, Too

If you're on Facebook , you might have noticed that some of your friends and family have posted scripted messages about accounts being cloned, and not to trust duplicate friend requests if you receive one. Once those friend requests are accepted, the scammers can then spread messages which appear to originate from the targeted account, luring that person's friends into propagating malware, falling for phishing schemes, or disclosing personal ithat can be used for identity theft.

Money Fuel price hike: Petrol, diesel rates on the rise again
Author: 0 Fuel price hike: Petrol, diesel rates on the rise again

In Mumbai , petrol prices were hiked by 18 paise to Rs 87.15. The diesel consumers in the state will get a relief of Rs 4.06 per litre as the Centre has already reduced the prices on the fuel by Rs 2.50 per litre. The rate of diesel has been hiked by Rs 0.29 in Delhi and Kolkata, and by Rs 0.31 in Mumbai and Chennai. And numerous states including Gujarat, Madhya Pradesh, Himachal Pradesh, Jharkhand, Uttarakhand, Assam, Haryana, Goa, Chandigarh, Bihar, Uttar Pradesh and Tripura have ...

Money Second Lawsuit Filed against JBS Tolleson in Raw Beef Salmonella Outbreak
Author: 0 Second Lawsuit Filed against JBS Tolleson in Raw Beef Salmonella Outbreak

These items were shipped to retail locations and institutions nationwide. The raw beef was packed between July 26 and September 7 and shipped to retailers nationwide, including Walmart , according to the U.S. No deaths have been reported. Most people recover from salmonella infections without treatment, health officials say. "Yesterday, out of an abundance of caution, JBS USA initiated a voluntary recall of ground beef products from our Tolleson, Ariz., beef production facility due ...

Money Unilever waives the right to move its headquarters from London to Rotterdam
Author: 0 Unilever waives the right to move its headquarters from London to Rotterdam

Unilever announced in a statement this morning that its board had made a decision to withdraw its proposal to simplify the group's dual-headed structure. Breaking news: Unilever has abandoned plans to move its headquarters from London to Rotterdam, after finally bowing to investor pressure. Unilever operates in 190 countries and has kept dual headquarters since its creation from the 1930 merger of Margarine Unie of the Netherlands and United Kingdom soapmaker Lever Brothers.

Money India to keep buying Iranian oil despite U.S. sanctions
Author: 0 India to keep buying Iranian oil despite U.S. sanctions

India accounted for 12 per cent of USA crude exports in June. White House officials had said over the summer they would push to bring Iranian crude exports "down to zero" and would be unlikely to grant any waiver exemptions, including to allies such as India and South Korea, two of Iran's largest oil customers.

Money Tech Sell-Off Accelerates as Treasury Yields Rise: Markets Wrap
Author: 0 Tech Sell-Off Accelerates as Treasury Yields Rise: Markets Wrap

The Nasdaq lost 1.81% to finish at 7,879. The index is down 1.65 per cent for the week. In Canada, the TSX retreated 0.4% to trade at 16,005 as financial and energy stocks were given a beating. The Nasdaq 100 Index dropped 1.2 percent, and was off 3 percent for the worst week since March. Stocks began the day higher after the employment data added to confidence in the strength of the American economy.

Money Jobless rate drops to 4.5 per cent in September in Capital region
Author: 0 Jobless rate drops to 4.5 per cent in September in Capital region

The monthly report from Statistics Canada indicates the jobs market remains volatile, after August saw a decline of more than 51,000 positions, raising the unemployment rate to 6.0 per cent, after two months of increases. The unemployment rate in the N.W.T.is 4.7 per cent. In Ontario, employment increased by 36,000, the third increase in four months. Across the province, unemployment fell by 0.3 points to 6.4 per cent, fuelled by growth in part-time work, up by 2,900 positions, while the ...

Author: 0 Labor Dept.: Unemployment, job growth down in September

Most of that revision (+66,000) came in the number of jobs credited to government. The unemployment rate had been expected to edge down to 3.8%. This is the sixth straight month the unemployment rate has been at or below four percent, also the best in a half century.

Money Editor's Take | RBI policy: Tough choices for MPC
Author: 0 Editor's Take | RBI policy: Tough choices for MPC

Fed Chairman Jerome Powell said on Wednesday the central bank may raise interest rates above an estimated "neutral" setting as the "remarkably positive" economy continues to grow. The rupiah was IDR= down 0.7 percent as of 0557 GMT and has weakened over 10 percent so far this year, making it the second biggest loser in the region after the Indian rupee INR=IN , which has continued to plumb new lows and forced the central bank to intervene.

Money Mattress Firm to close up to 700 stores amid bankruptcy filing
Author: 0 Mattress Firm to close up to 700 stores amid bankruptcy filing

Customers anxious about the impact on purchases made at Mattress Firm locations can rest easy, though, the company said. By filing for Chapter 11 bankruptcy protection, Mattress Firm hopes to get out of about 700 unfavorable leases and begin paying back a mountain of debt.

Money Traders bet on oil at US$100 as Iran sanctions loom
Author: 0 Traders bet on oil at US$100 as Iran sanctions loom

However, high crude prices, combined with widespread emerging market currency weakness, threaten growth. During the latest meeting, "both sides actively discussed the US' reimposition of sanctions against Iran", while Tokyo reiterated its basic principle that Japanese corporate activity should not be impacted by the U.S.

Money Major emergency response at Sydney Airport after pilot's mayday call
Author: 0 Major emergency response at Sydney Airport after pilot's mayday call

The aircraft taxied to the gate and passengers disembarked normally. "What that tells air traffic control and aircraft in the area is that you need priority to come in", Gibson said, as reported by USA Today . Strong headwinds, weather conditions and changes in route and altitude are all factors that could eat into fuel levels, said spokesman Peter Gibson.

Money What Consumers Pay For Petrol, Diesel After Price Cuts
Author: 0 What Consumers Pay For Petrol, Diesel After Price Cuts

After months of rising fuel prices with record high petrol and diesel prices in major Indian cities , the Indian government has finally intervened, cutting petrol and diesel prices by ₹2.50 ($.034) a litre in several states across India.

Money Everything You Need to Know About the September Jobs Report
Author: 0 Everything You Need to Know About the September Jobs Report

Details across industries showed construction payrolls rose by 23,000 and manufacturing added 18,000 jobs. Numerous dislocated people will probably return to work. By industry, the strongest wage growth is in the low-paying restaurant sector, which has seen a 4.3 percent increase in the average hourly wage for production and nonsupervisory workers over the past year.

Money UK's May planning to rush Brexit through parliament
Author: 0 UK's May planning to rush Brexit through parliament

May danced a little jig to the strains of ABBA's " Dancing Queen " as she approached the podium for her address at the ruling Conservative Party's annual gathering. She said the Conservatives next year planned to end austerity implemented in the wake of the 2008 financial crisis. AN MP has expressed "disappointment" at his south Essex colleague who controversially gave the Prime Minister a vote of no confidence.