• Fed officials express caution about pace of future hikes

    Fed officials express caution about pace of future hikes

    Economy

    The FOMC also discussed how best to manage short-term interest rates in the future. Until now, strong economic data and new fiscal stimulus made the central bank more determined to gradually lift rates to neutral because the economy is expanding solidly and unemployment continues to fall.
  • Nigeria, Saudi Arabia Strategise On Oil Market Stability

    Nigeria, Saudi Arabia Strategise On Oil Market Stability

    Economy

    To this end, the group will be contemplating cutting oil output by 1 million barrels of oil per day. "Against this backdrop, the most likely outcome of next week's OPEC meeting is a fudge". The energy resources, pooled in vast oil fields, are near the surface of the desert. In Russia , almost half the cost of production per barrel is gross tax - $8.44 of the total cost of $19.21 per barrel, even though the production cost is $2.98, which is lower than Saudi Arabia's.
  • Trump issues $267bn tariff threat to China ahead of trade talks

    Trump issues $267bn tariff threat to China ahead of trade talks

    Economy

    Trump said this week that he is "highly unlikely" to step back on a planned increase in tariffs on $US200 billion worth of Chinese goods to 25 %. The Trump administration has already placed tariffs on $200 billion in goods manufactured in China in what it said was a bid to achieve trade parity between the two nations and discourage Chinese theft of USA intellectual property.
  • Trump Tough on General Motors For 14,000 Layoffs Announced

    Trump Tough on General Motors For 14,000 Layoffs Announced

    Economy

    They better get back to OH and soon. "I was very tough". Its North American salaried workforce, including engineers and executives, will shrink by 15 percent , or about 8,000 jobs. The Canadian plant appeared to be most in danger of closing. He won the county by about 6 percentage points, four years after then-President Barack Obama had won it by 23 points.
  • Energy company stocks dropping their relationship to oil prices

    Energy company stocks dropping their relationship to oil prices

    Economy

    Crude imports in October climbed 10.5 percent from a year earlier to 21.02 million tonnes, the highest monthly import figure in PPAC data going back to April 2011. This eased concerns about potential oil supply disruptions amid heightened US-Saudi tensions. A report from the industry-funded American Petroleum Institute offered a bullish note for oil investors, finding that United States crude stockpiles fell 1.55 million barrels last week, according to people familiar with the data.
  • Nissan chairman arrested and the fallout could be huge

    Nissan chairman arrested and the fallout could be huge

    Economy

    Nissan chairman Carlos Ghosn has been arrested over claims of financial misconduct , the carmaker has said. Nissan said Ghosn's wrongdoing and Kelly's "deep involvement" were uncovered by an internal investigation conducted over the past several months following a whistleblower report .
  • Target Black Friday ad 2018: Best deals

    Target Black Friday ad 2018: Best deals

    Economy

    ET. Amazon has fired the starting gun on Black Friday, the U.S. tradition that has become a near-fortnight long £10bn shopping extravaganza in the UK. You can shop all the items on offer here now! The 4-Star stores will also have select products on sale, many of which were featured in Amazon's gift guides, including its lists for toys, home, and electronics.
  • IQE cuts earnings forecast amid Apple supplier woes

    IQE cuts earnings forecast amid Apple supplier woes

    Economy

    The company did not name the chipmaker, but is a major supplier to USA -based Lumentum Holdings Inc ( LITE .O) which slashed its forecasts on Monday and said that one of its largest customers would "materially reduce" shipments for the current quarter.
  • A2 and NZ lamb a victor on Alibaba's Singles Day

    A2 and NZ lamb a victor on Alibaba's Singles Day

    Economy

    Other companies have since followed suit and, in 2015, Singles Day surpassed Black Friday and Cyber Monday combined, two of the largest shopping days in the United States. In the hours leading up to the shopping event, Alibaba's video streaming platform Youku hosted a gala countdown to mark the festival. And from what the e-commerce platform reports it has yet again achieved a new milestone.
  • Tesla names Robyn Denholm new chairman, overseeing Elon Musk

    Tesla names Robyn Denholm new chairman, overseeing Elon Musk

    Economy

    In media interviews he said he often slept on a sofa in the Tesla office and more recently in an online video he briefly smoked marijuana. She is now just one of two women on the board of Tesla . Since it went public in 2010, Tesla has posted a profit in only two quarters: once in 2013 and again in 2016. Denholm, who has an undergraduate degree in economics from the University of Sydney and a master's degree in commerce from the University of New South Wales, has worked in senior ...
  • Things to watch in the USA midterm election

    Things to watch in the USA midterm election

    Economy

    House of Representatives where they will seek to keep his agenda in check and open his administration to intense scrutiny. Also a record number of women - 200 Democrats and 60 Republicans - are candidates for Congress, where they now hold only about 20 percent of the seats.
  • First races called in 2018 midterm elections

    First races called in 2018 midterm elections

    Economy

    The Democrats stand little chance of winning the Senate , but with this new breed of candidate they could take control of the house. The Trump administration now holds power in all branches of government - the presidency, the Congress and the Supreme Court - and if Democrats were to take back the House, they could put a pin in much of Trump's agenda.
  • Lowe's closing 31 stores across Canada

    Lowe's closing 31 stores across Canada

    Economy

    In addition to the 31 locations the brand is closing in Canada, it will also axe 20 stores in the U.S. The store closures , all in the United States and Canada, are set to be completed by the end of January, Lowe's spokesman Steve Salazar said in an email.
  • Iran vows to 'proudly bypass' USA sanctions

    Iran vows to 'proudly bypass' USA sanctions

    Economy

    The Trump Administration announced additional sanctions on Iran on a teleconference on November 2 led by Secretary of State Michael Pompeo and Secretary of the Treasury Steven Mnuchin. "We are prepared to resist any pressure", Rouhani said. While Chief Cabinet Secretary Yoshihide Suga declined to detail any potential sanction waivers, he said his government had asked Washington that sanctions should not have an adverse impact on Japanese companies.