Money

Money With APEC Summit Canceled, Trump-Xi Trade Meeting Hangs in the Balance
Author: 0 With APEC Summit Canceled, Trump-Xi Trade Meeting Hangs in the Balance

A complete agreement may take three phases, according to the president, who initiated a trade fight with China by imposing duties on billions of dollars worth of the country's imports in hopes of forcing talks and a trade treaty. "The risk here is that if the summit now is postponed then that at least suggests that the trade war uncertainty might be hanging over us for longer", Torsten Slok, chief economist at Deutsche Bank AG, said in an interview on Bloomberg Television Wednesday.

Money Fed cuts interest rate again, indicates further reduction unlikely
Author: 0 Fed cuts interest rate again, indicates further reduction unlikely

But it hinted that it won't likely cut again this year. The Fed's move reduces the short-term rate it controls - which influences many consumer and business loans - to a range between 1.5% and 1.75%. He complained on Tuesday that it "doesn't have a clue!" and has called on Powell to slash rates to zero while tweeting favorably about negative rates applied by central banks in Europe and Japan.

Money Google buys Fitbit for US$2.1B, enters crowded wearables field
Author: 0 Google buys Fitbit for US$2.1B, enters crowded wearables field

Now Apple and Google, the two big names in tech, own the most popular fitness platforms. Google has agreed to buy Fitbit for $2.1 billion in a move giving the U.S. For the first six months of 2019, Fitbit sales grew 7%, to $585.4 million, and reported a net loss of $73.8 million (an improvement from a net loss of $95.2 million in the first half of 2018).

Money Narendra Modi in Saudi Arabia: Everything you need to know
Author: 0 Narendra Modi in Saudi Arabia: Everything you need to know

The Indian PM arrived in Riyadh on Monday on his second visit to the kingdom. Later in the evening, Prime Minister Modi held wide-ranging talks with powerful Crown Prince Mohammed bin Salman . India had received similar support from France and Russian Federation on the issue when Prime Minister Narendra Modi travelled to those countries in August and September.

Money U.S. new jobs grow despite impact from GM strike
Author: 0 U.S. new jobs grow despite impact from GM strike

The figure exceeded most analysts' expectations, who projected about 75,000 new jobs for the month. Revisions added 95,000 jobs for the prior two months, bringing the three-month average to 176,000, though gains remain below 2018 levels. "We don't want to ignore the impact the trade fight is having on business job decisions", said Beth Ann Bovino, chief USA economist at S&P Global Ratings in NY.

Money U.S. stocks rally amid strong earnings, trade hopes
Author: 0 U.S. stocks rally amid strong earnings, trade hopes

Earnings include: HSBC, Alphabet , Facebook, Pfizer, Airbus, Apple, Exxon Mobil, BP, PetroChina, Credit Suisse, Nomura and Macquarie Group.The Federal Reserve is expected to lower the main interest rate when policy makers decide on Wednesday.

Money China rolls out 5G telecom services
Author: 0 China rolls out 5G telecom services

Though 5G remains nascent, Huawei is already exploring 6G in Canada amid fears that the nation will ban it from providing 5G to mobile network operators. Despite the success of 5G networks at home, Chinese telecom equipment giants have faced regulatory push back overseas. However, sceptics are doubtful about the 5G speed.

Money Apple set to offer exclusive subscription to Apple Card members
Author: 0 Apple set to offer exclusive subscription to Apple Card members

Apple CEO Tim Cook mentioned an exclusive program for Apple Card members that lets them finance the latest smartphone over 24 months with zero percent interest in the firm's earnings call on Wednesday. To be fair, the iPhone can already be had on a subscription-like plan, thanks to the iPhone Upgrade Program and wireless carriers, any one of which is happy to put a customer on a two-year or longer upgrade cycle.

Money Facebook agrees to pay Cambridge Analytica fine to UK
Author: 0 Facebook agrees to pay Cambridge Analytica fine to UK

It had originally appealed the penalty, causing the Information Commissioner's Office to pursue its own counter-appeal. In its settlement with the ICO on Wednesday, Facebook executives acknowledged that the company should have done more to investigate how Cambridge Analytica was using its customers' data.

Money Nintendo profit jumps as cheaper Switch Lite consoles prove popular
Author: 0 Nintendo profit jumps as cheaper Switch Lite consoles prove popular

The 3DS sold 0.37 million units during this same quarter, in case you were curious about how it was doing. The figure is up from 36.87 million during Q1 of the fiscal year. Nintendo also updated its million-dollar sellers list. So, the Switch Lite sales Nintendo reports in this latest round of financials were made in the span of just 10 days.

Money Hong Kong Protesters to Challenge New Face Mask Ban in Halloween March
Author: 0 Hong Kong Protesters to Challenge New Face Mask Ban in Halloween March

Shouts of "Give us back Halloween!" rang out as police used their shields to push the crowds forward on the sloping, narrow streets, scene of a deadly New Year stampede almost 27 years ago. "Stop blocking the road". "My daughter was so disappointed and scared". A heavy police presence was seen all along the 4km march route. A 40-year-old woman in a devil costume walked with hundreds of other protesters to demonstrate defiance of the mask ban, chanting, "Five demands, not one less", ...

Money UAW, Ford reach tentative labor agreement
Author: 0 UAW, Ford reach tentative labor agreement

Those include maintaining coverage for employees' out-of-pocket healthcare costs, securing around three percent in raises, adding four percent lump-sum bonus increases for each year of the contract, and providing a path for temporary workers to be offered full-time positions.

Money Biggest Private Coal Miner Goes Bust As Trump Rescue Fails
Author: 0 Biggest Private Coal Miner Goes Bust As Trump Rescue Fails

The company said it has filed motions with the bankruptcy court that when granted will enable day-to-day operations to continue uninterrupted. The miner - the largest privately owned USA coal company - reached a restructuring support agreement with a group of lenders that provides a new $350 million loan to keep operations going during the reorganization, according to the court filing.

Author: 0 Patriotism Helps Huawei Dominate China's Smartphone Market

Huawei , the world's No. 2 maker of smartphones, it was all but banned by the United States in May from doing business with American companies, significantly interfere with the ability to source key parts.The company was then given a reprieve until November, but has pushed up the black list patriotic purchase a smartphone in China, helping to more than offset the slump in the global market delivery.

Money PSA Peugeot board approves merger with Fiat Chrysler
Author: 0 PSA Peugeot board approves merger with Fiat Chrysler

But a deal does not help either in expanding in China, the world's largest market, where both are weak, analysts said. Fiat Chrysler and PSA ( PUGOY ) sold a combined 8.7 million vehicles previous year, just ahead of GM (GM), which sold 8.3 million, and not far behind Volkswagen ( VLKAF ) and Toyota (TM), which each sold over 10 million.

Money Brexit: General election fight 'will be tough', PM says
Author: 0 Brexit: General election fight 'will be tough', PM says

The bill paving the way for an early general election was passed by MPs on Tuesday however, Labour MP for Walthomstow, Stella Creasy, put forward an amendment that would allow MPs to vote on proposed changes to the election bill e.g. "It'll be a tough election and we are going to do the best we can", he said. The party remains divided over the tactical benefits of a December poll, with only 127 of Labour's 244 MPs supporting Tuesday night's vote.

Money Australian regulator sues Google for misleading consumers on data collection
Author: 0 Australian regulator sues Google for misleading consumers on data collection

Similarly, ACCC said Google did not inform consumers later accessing their Google Account settings via Android devices that by leaving "Web & app activity" switched on, Google would continue collecting their location data. Google said it was reviewing the allegations. "When people had their location history turned off, they may have felt that Google was not collecting their location data and recording it and keeping it, but in fact they were", Sims said.

Money Australia's Woolworths underpaid staff by up to $200m
Author: 0 Australia's Woolworths underpaid staff by up to $200m

Woolworths CEO Brad Banducci has apologised and stated the company is urgently trying to rectify the problem. Woolies on Wednesday said it learned it had underpaid 5700 salaried staff over nine years when a handful of managers noticed a difference between their pay packets and those covered by a newly negotiated enterprise agreement for supermarkets and Metro stores.

Money Consumer Confidence Index edges down
Author: 0 Consumer Confidence Index edges down

Oct. Consumer Confidence: 125.9 vs. 128.5 consensus and 126.3 in September. October's print was the lowest since June, when confidence fell to 124.3. The overall consumer assessment of current conditions improved somewhat, even as they were less optimistic about the short-term outlook. Consumers' assessment of the job market was mixed.

Money Fiat Chrysler reportedly looking at a merger with Peugeot
Author: 0 Fiat Chrysler reportedly looking at a merger with Peugeot

Sources have told the Wall Street Journal the two parties are discussing an all-share transaction. Following multiple reports in the motoring and business media, Fiat Chrysler Automobiles came out with a short statement in regard to how the cookie crumbles.

Money Canadian Dollar Crashes Against US Peer on BoC Rate Decision
Author: 0 Canadian Dollar Crashes Against US Peer on BoC Rate Decision

Canada's central bank is holding despite all signs pointing to the U.S. Federal Reserve cutting its rate later today for the third time this year. "While the bank will never set the table for any rate moves, it's pretty clear that they're quite concerned about the global trade outlook", Porter told Reuters.

Money Ford to cut 450 more jobs at Oakville assembly plant
Author: 0 Ford to cut 450 more jobs at Oakville assembly plant

Unifor , which represents autoworkers at the plant, is renewing its call for new products to be assigned there. The jobs represent almost 11 per cent of the Oakville assembly plant's 4,200 workers and 5.6 per cent of Ford's total 8,000 employees in Canada.

Money SoftBank shaken by WeWork, but committing billions
Author: 0 SoftBank shaken by WeWork, but committing billions

As a result, the Vision Fund is reassessing its recorded valuations of other ride-hailing companies, such as Didi and Grab Holdings: according to Bloomberg data, between June 30 and September 30, the value of SoftBank's 13% stake in Uber decreased by about $3.5 billion.

Money NZ dollar washing around ahead of Fed rate decision
Author: 0 NZ dollar washing around ahead of Fed rate decision

President Donald Trump said on Monday he expected to sign a significant part of a trade deal with China ahead of schedule but did not elaborate on the timing, building on optimism from last week when Washington said it was "close to finalizing" some parts of a trade deal.

Money Automakers swerve, side with Trump against California lawsuit
Author: 0 Automakers swerve, side with Trump against California lawsuit

The only reason that there is now a divergence between the federal and state standard is that the Trump administration has chose to weaken that standard, while California and other states have held firm, knowing that auto companies will need to continually improve in order to compete in a carbon-conscious world and that the best available science shows that automakers can cost-effectively meet that challenge.

Money US Lawmakers Fear Chinese-Owned TikTok Poses Security Risk
Author: 0 US Lawmakers Fear Chinese-Owned TikTok Poses Security Risk

In January alone, TikTok added more than 6 million new users in the USA, overtaking Facebook and Instagram to become the No. 1 downloaded non-game app among American users, based on estimates of mobile app tracker Sensor Tower. According to DataMagic , the United States market only accounts for 10 percent of TikTok downloads. TikTok denies accusations of Chinese influence and national security risks to the US.

Money American Airlines adds new nonstop flights from DFW to New Zealand
Author: 0 American Airlines adds new nonstop flights from DFW to New Zealand

Air New Zealand recently announced it would axe its long-standing Los Angeles-London service and start non-stop flights between Auckland and NY 's Newark Liberty International Airport from October 29, 2020. Christchurch Airport predicts just announced direct flights between Christchurch and Los Angeles will "turbocharge" tourism value to New Zealand. Sean Donohue, DFW Airport CEO Sean Donohue says in a statement that the airline's partnership with American Airlines is bringing "record growth ...

Money Alphabet reports increased revenue for Q3, but profits are down 23 percent
Author: 0 Alphabet reports increased revenue for Q3, but profits are down 23 percent

This translates diluted earnings of $10.12 per share. Google also boosted its real-estate holdings over the quarter, acquiring new buildings in Sunnyvale, CA and Seattle, WA. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. The firm has a 50 day moving average of $1,229.03 and a 200 day moving average of $1,178.46.