Money

Money USA unemployment rate falls to 50-year-low of 3.5%
Author: 0 USA unemployment rate falls to 50-year-low of 3.5%

Professional and business service roles rose by 34,000 during the month. The additional hiring and the drop in the jobless rate will likely ease worries that an economy weakened by the U.S. The speed of participation within the labor drive, which is to say the proportion of Individuals who're both employed or in search of employment, remained steady at 63.2 % in September.

Money Disney bans ads for Netflix
Author: 0 Disney bans ads for Netflix

The Disney-owned ABC , Freeform, and FX are among the networks that will not run commercials from Netflix , according to a report from the Wall Street Journal . People close to the Disney-Amazon situation said it isn't as acrimonious as a traditional cable-carriage dispute. Netflix, which spent $99 million on U.S.

Money HSBC to slash up to 10,000 jobs - FT
Author: 0 HSBC to slash up to 10,000 jobs - FT

British multinational bank HSBC is set to embark on its largest cost-cutting exercise in years, and facing the ax are up to 10,000 high-paying roles across the group, the " Financial Times " reported ( behind paywall ) on Sunday, citing two people close to the matter.

Money Flutter Entertainment and The Stars Group to merge
Author: 0 Flutter Entertainment and The Stars Group to merge

The Flutter-TSG group would have had a combined £3.8 billion in revenue in 2018, making it the largest online betting company in the world. That assigns an equity value to the target of about 4.95 billion pounds (US$6 billion), which represents a premium of about 40 per cent to Tuesday's closing share price, according to Bloomberg calculations.

Money U.S. oil imports, exports down last week
Author: 0 U.S. oil imports, exports down last week

USA crude inventories rose 3.1 million barrels last week, more than forecast. American private payrolls for September fell short of estimates, a day after a manufacturing gauge slumped to the lowest in a decade, spurring drops in financial markets.

Money PMC scam: ED files PMLA case, raids at 6 places in Mumbai
Author: 0 PMC scam: ED files PMLA case, raids at 6 places in Mumbai

Thomas was summoned to the EOW office at the city police headquarters and arrested after questioning. Explaining the modus operandi of the case, the FIR said that HDIL promoters allegedly colluded with the bank management to draw loans from the bank's Bhandup branch.

Money India cuts rates for 5th time amid economic slowdown, banking woes
Author: 0 India cuts rates for 5th time amid economic slowdown, banking woes

The Narendra Modi government has taken a slew of steps in the last month to revive growth including slashing effective corporate tax rates for all firms to 27 per cent. The reverse repo rate is the rate at which the central bank borrows money from commercial banks. The government has further taken note of higher projection of headline inflation by MPC for 2019-20, which is within the band of 3-4 per cent and well within the target range, it said.

Money Enjoy Free Tacos on National Taco (John's) Day
Author: 0 Enjoy Free Tacos on National Taco (John's) Day

The restaurant is offering four hardshell tacos for the low price of $5 tomorrow at participating locations. This delicious offer is available from open to close at participating Taco John's locations nationwide, but only on October 4, so mark your calendar! Tasty taco options include their Oaxacan steak taco with seared flank, garlic-jalapeño chimichurri, queso fresco and pickled red onion; veggie taco with roasted broccoli, squash, brussels sprouts, onion, carrots and potatoes topped ...

Money MGM Resorts to pay $735M settlement in Las Vegas massacre lawsuits
Author: 0 MGM Resorts to pay $735M settlement in Las Vegas massacre lawsuits

The shooter was found dead in his hotel room with an apparently self-inflicted gunshot wound. [ MGM ] had sought to block victims from recovering any money from the company, arguing that a little-known federal law passed in the aftermath of the September 11 attacks meant that MGM enjoyed a shield from liability because the shooting qualified as an "act of terrorism" under the law's expansive definitions.

Money C8 Corvette Stringray convertible breaks cover
Author: 0 C8 Corvette Stringray convertible breaks cover

With the roof folded down, the trunk still has enough room to accommodate two golf bags. Typically, convertibles offer less cargo space than their coupe siblings, but the mid-engine Corvette bucks that trend. Lead engineer Tadge Juechter tells Autoblog that the droptop 'Vette weighs only around 80 pounds (36 kilograms) more than the coupe, but Chevy doesn't have the exact figures yet.

Money Deli sandwiches recalled due to Listeria
Author: 0 Deli sandwiches recalled due to Listeria

A number of product recalls have been announced by the Canadian Food Inspection Agency (CFIA) this week. Symptoms include high fever, severe headache, stiffness, nausea, abdominal pain, and diarrhea. The imported diced chicken used in these products has been associated with an outbreak investigation, although there have been no confirmed illnesses at this time.

Money Thomas Cook Belgium, Netherlands announce bankruptcy
Author: 0 Thomas Cook Belgium, Netherlands announce bankruptcy

Around 360,000 customers will receive a refund for their bookings due to Thomas Cook's collapse, three times larger than previous refund programme, according to the CAA. EY said in a statement: "We will be fully cooperating with FRC during their enquiries". If the FRC's investigation finds any wrongdoing, it could lead to a severe reprimand and a fine for those involved.

Money Tesla shares plunge after disappointing third-quarter deliveries
Author: 0 Tesla shares plunge after disappointing third-quarter deliveries

But the description also comes with a warning: "Those using Smart Summon must remain responsible for the auto and monitor it and its surroundings at all times", the company adds. That works out to more than 6,000 vehicles per quarter. In a statement released after Wednesday's NY close, Tesla said it delivered about 97,000 vehicles in the third quarter, including 79,600 Model 3 sedans, below the analyst consensus forecast for about 99,000 vehicles, including 80,200 Model 3s.

Money US manufacturing sinks to decade-low
Author: 0 US manufacturing sinks to decade-low

The Institute of Supply Management's closely watched index showed a decline in manufacturing for the second month in a row. Any reading below 50 percent signals a contraction. Timothy Fiore, head of ISM's Manufacturing Business Survey Committee , pointed to the 2.3 percentage point drop in a measure of new export orders, its lowest level since March 2009.

Money Construction sector downturn ‘more severe’ as Brexit delays hit
Author: 0 Construction sector downturn ‘more severe’ as Brexit delays hit

Firms saw an extension of the decline in new orders during September, recording a 15th successive monthly fall in total demand. "The service sector continued to be the driving force behind any economic expansion in Japan as we approach the year-end", said Joe Hayes, economist at IHS Markit , which compiles the survey.

Money GM lays off 6,000 more workers as union strike continues
Author: 0 GM lays off 6,000 more workers as union strike continues

About 48,000 UAW members went on strike on September 16 seeking higher pay, greater job security, a bigger share of the leading U.S. automaker's profit and protection of their healthcare. Many suppliers have halted or scaled back operations. JPMorgan auto analyst Ryan Brinkman estimated in a research note that the strike has cost GM more than US$1-billion but it may be able to recover some lost profit in the fourth quarter.

Money Wall Street hits fresh one-month low at open on growth worries
Author: 0 Wall Street hits fresh one-month low at open on growth worries

WHAT LIES AHEAD: The weaker-than-expected report on private-sector hiring puts more emphasis on Friday's more comprehensive jobs report from the federal government. Services make up the bulk of the USA economy and the sector has continued to grow even as manufacturing has slumped. Now the worry is whether it could spill over to weaken the consumer.

Money Australia cuts key interest rate to record low 0.75%
Author: 0 Australia cuts key interest rate to record low 0.75%

Subsequently, there was a sharp uptick in RBA rate cut expectations about two weeks ago in response to uninspiring Australian employment data, which detailed an uptick in the unemployment rate to 5.3% despite a rosier reading on the headline change in employment figure.

Money Samsung Shuts Down It's Last Smartphone Production Plant In China
Author: 0 Samsung Shuts Down It's Last Smartphone Production Plant In China

However, like Sony, which also recently said it would close a smartphone factory in China, Samsung is bowing to the reality of shrinking market share and rising manufacturing costs, according to this article from Reuters . But the brand will now manufacture phones in other countries. The "difficult decision" was made in a bid to boost efficiency in China as its local smartphone business failed to show signs of growth.

Money Schwab drops stock trading commissions as fee war escalates
Author: 0 Schwab drops stock trading commissions as fee war escalates

And on Wednesday, E-Trade followed suit. The company said it estimated the impact of the commission changes on second-quarter operating results would have been around $75 million. Since then, assets at the firm have grown by about $800 billion from a combination of market gains and net new inflows. In a note to clients, Ryan said the brokerage industry is entering a new commission price war as free trading becomes the norm.

Money CBOT soybean futures rise on technical buying, smaller than expected stockpiles
Author: 0 CBOT soybean futures rise on technical buying, smaller than expected stockpiles

December corn declined 4.75 cents, or 1.21 percent, to 3.8775 dollars per bushel. The two sides agreed to continue to maintain communication on related issues. Soya stocks , however, were up 108% from the same point previous year, due largely to the drop in USA exports to China. Investors instead turned their attention toward grain stocks data set to be published next Monday by the USDA.

Money U.S. stocks end sharply lower on deepening economic fears
Author: 0 U.S. stocks end sharply lower on deepening economic fears

The Dow Jones Industrial Average declined by 494.42 points, or 1.9% to close at 26,078.68. The SPI200 futures contract was down 120 points, or 1.81 per cent, at 6,493.0 at 0700 AEST, suggesting a firmly negative start for the benchmark S&P/ASX200 on Thursday.

Money United States to Impose Tariffs on European Aircraft, Agricultural Goods
Author: 0 United States to Impose Tariffs on European Aircraft, Agricultural Goods

In 2018, the USA revised that figure to $11.2 billion. -China trade war is taking an increasing toll on the USA economy. "Airbus will continue working with its United States partners, customers and suppliers, to address all potential consequences of such tariffs that would be a barrier against free trade and would have a negative impact on not only the USA airlines but also U.S.

Money Saudi Aramco reports output fully restored after attacks
Author: 0 Saudi Aramco reports output fully restored after attacks

The attack remains in the spotlight as it sent OPEC's oil output to an eight-year low in September, deepening the impact of a supply pact and United States sanctions on Iran and Venezuela. "The event highlights Saudi Arabia's outstanding capacity to effectively deal with adversities, commitment to maintaining stability in the global oil markets", the ministry said in a press release .

Money WeWork Withdraws IPO After Tumultuous Month Marked by CEO’s Exit
Author: 0 WeWork Withdraws IPO After Tumultuous Month Marked by CEO’s Exit

Co-CEOs Artie Minson and Sebastian Gunningham said , "We have made a decision to postpone our IPO to focus on our core business, the fundamentals of which remain strong". The company has faced a barrage of challenges in the recent weeks leading up to its failed IPO. WeWork will likely postpone the offering until next year, Bloomberg reported last week.

Money Airport catering truck goes berserk, almost slams into plane
Author: 0 Airport catering truck goes berserk, almost slams into plane

The scene of the unusual incident captivated passengers sitting in a number of planes at Chicago's O'Hare International. Seven workers could do little but watch as the cart went insane, with some making hesitant steps towards it to try and stop the carnage.

Money China: Military Shows Off Some of Its Latest Systems in Anniversary Parade
Author: 0 China: Military Shows Off Some of Its Latest Systems in Anniversary Parade

On Tuesday, Trump sent out a standard National Day message to China. A tentative deal could be reached by the end of this year considering U.S. President Donald Trump's administration would strive to avoid the U.S. The United States and China have been locked in an escalating trade war for almost 15 months. China and the United States are due to resume high-level trade talks next week in Washington.