Money


Bugatti reveals radical R136m Centodieci hypercar with 1176kW Bugatti reveals radical R136m Centodieci hypercar with 1176kW
- August 19, 2019

That claim of dominance was renewed this morning with the debut of the Bugatti Centodieci during the Quail, A Motorsports Gathering at the Quail Lodge & Golf Club in Carmel Valley, Calif. The air inserts have been divided into five smaller circular inlets on each side of the vehicle like in the EB110 SS, providing a different interpretation to the Chiron's wave-like side profile. (more...)
Trump does not want to do business with China's Huawei Trump does not want to do business with China's Huawei
- August 19, 2019

A Huawei logo is displayed at a retail store in Beijing in May. Because Huawei still has customers to support in the smartphone and cellular infrastructure business, the US Department of Commerce gave Huawei a 90-day exemption on the ban, allowing it to support its existing customers. (more...)
Gold holds steady as political, trade woes persist Gold holds steady as political, trade woes persist
- August 18, 2019

Spot gold was up 0.4% at $1,521.47 per ounce by 13:42 p.m. EDT (1742 GMT). "We got some poor Chinese data out, we're seeing some slowing there, and the German data showing that the economy contracted in the second quarter so, all these slowdown concerns support gold", ING analyst Warren Patterson said. (more...)
Leaked Docs: UK Faces Vast Shortages in No-Deal Brexit Leaked Docs: UK Faces Vast Shortages in No-Deal Brexit
- August 18, 2019

The memo, which was leaked from the German Finance Ministry, allegedly says that German officials have come to the conclusion through internal discussions that a turbulent and chaotic Brexit is now "highly likely". He has no right to drive our country off a cliff and into the arms of Donald Trump with his no-deal fixation. Opponents of no deal say it would be a disaster for what was once one of the West's most stable democracies. (more...)
Selloff on Wall Street as recession fears take hold Selloff on Wall Street as recession fears take hold
- August 18, 2019

It's believed that wary investors effectively bid down the price of the longer-term bonds as they look for a safe place to put their money. The bond market, however, sees a rate decrease at the USA central bank's September meeting as a sure thing, with the only question being the size. (more...)
Turkish Holding Wants to Buy UK's Second Largest Steelmaker Turkish Holding Wants to Buy UK's Second Largest Steelmaker
- August 18, 2019

Oyak is the largest shareholder of steel company Erdemir in its own country. OYAK has reached a provisional agreement to buy the company based in Scunthorpe, North Lincolnshire where 3,000 people work. 'The UK has a long and proud history of steel manufacturing and I am committed to a modern and sustainable future for the industry, that is productive and supports a skilled and highly valued workforce'. (more...)
MN Unemployment Increases to 3.4%/Labor Force Holds at 70% MN Unemployment Increases to 3.4%/Labor Force Holds at 70%
- August 18, 2019

However, that number is 2,603 fewer than a year ago, a 0.1% decrease. But the US economy is growing more slowly than a year ago, when it got a boost from the federal tax cut. Major bumps occurred: in leisure and hospitality, 6,900 jobs, or 6.8 percent and in mining and construction, with 6,400 new jobs, or 8.9 percent, the department said in a news release. (more...)
Virgin Galactic reveals look at plans for world's first commercial spaceport Virgin Galactic reveals look at plans for world's first commercial spaceport
- August 18, 2019

If you're passing through New Mexico and need somewhere to buy a coffee and watch heat rising off tarmac, the Virgin Galactic Spaceport is finished and presumably on the map; although the glorified aircraft hangar won't be seeing any space tourism activity in the near future, because, well, that doesn't happen yet. (more...)
China doing very poorly as a result of trade war: Donald Trump China doing very poorly as a result of trade war: Donald Trump
- August 18, 2019

On Tuesday, Washington postponed the implementation of the additional tariffs on some Chinese imports until 15 December. China says it may take "necessary countermeasures" if the United States goes ahead with additional tariffs on Chinese imports . (more...)
Share trading in London delayed by technical issue Share trading in London delayed by technical issue
- August 18, 2019

A technical glitch in London's Stock Exchange (LSE) caused an over an hour's delay in trading due to a "potential Trading Service issue". The outage was affecting hundreds of shares in some of the UK's largest companies, including Shell, Unilever and HSBC and BHP Group, worth a total of US$2.8 trillion (RM11.7 trillion). (more...)
Bakkt Bitcoin Futures Gets Clearance to Launch Next Month Bakkt Bitcoin Futures Gets Clearance to Launch Next Month
- August 18, 2019

The new Bitcoin offering involves two futures contracts; daily future contract, which will enable customers to transact in a same-day market, and a monthly bitcoin futures contract. "In addition, the independent governance and compliance requirements of a qualified custodian mean that the Bakkt Warehouse is created to meet the highest standards of oversight", the announcement read. (more...)
Fed’s Mester weighing argument for US rate cut Fed’s Mester weighing argument for US rate cut
- August 18, 2019

Worsening economic data, weak inflationary pressures, the escalating U.S. The interest rate on the USA 30-year Treasury bond fell below 2 percent to a record low. "That longer-end rates are rallying does suggest some lack of confidence that the central banks will actually be able to do anything about the slowing global growth momentum", he added. (more...)
Dueling protests rattle Hong Kong in 10th week of unrest Dueling protests rattle Hong Kong in 10th week of unrest
- August 18, 2019

Among the pro-Hong Kong demonstrators were members of China's Tibetan and Uighur ethnic minorities, as well as Vietnamese groups. Lei also called for cooperation between young people in the Chinese mainland and Hong Kong to build Hong Kong into a better place and boost the development of China. (more...)
Founder's grip on WeWork may be hard for investors to stomach Founder's grip on WeWork may be hard for investors to stomach
- August 18, 2019

WeWork , which says in the offering document that its corporate mission is no less than to "to elevate the world's consciousness", is on track to lose $2.7 billion this year from its operations, up from almost $1.7 billion last year. The underwriters for the offering are JPMorgan, Goldman Sachs, Merrill Lynch, Barclays, Citigroup, Credit Suisse, HSBC Securities, UBS and Wells Fargo. (more...)
Check Out the New $9m BUGATTI CENTODIECI! Check Out the New $9m BUGATTI CENTODIECI!
- August 17, 2019

As per previous year with the Bugatti Divo, the Quail Motorsports Gathering plays host to the launch of Bugatti's newest introduction and we can see the covers coming back before exploring it in details, as well as taking a look at various models of the EB110 that are also in attendance. (more...)
Tyson recalling 39k pounds of chicken after 'extraneous material' found Tyson recalling 39k pounds of chicken after 'extraneous material' found
- August 17, 2019

The best if used by date is January 31, 2020. The USDA Food Safety and Inspection Service (FSIS) issued two recalls this week for chicken products sold in Tennessee and Kentucky. If you happened to buy patties affected by the recall, you should toss them out or return them to the retailer where they were purchased, the USDA says. (more...)
Buck Sexton: Joe Biden 'riding on the fumes' of Obama presidency Buck Sexton: Joe Biden 'riding on the fumes' of Obama presidency
- August 17, 2019

Senator Bernie Sanders (I-VT) remains in third place and is polling at 16 percent. A new poll shows Sen. Only 9 percent of likely voters indicated the same about Warren. The former DE senator is registering 30.3 percent support, while Warren came in second at 18.5 percent. Warren jumps four points to come in with 20%, while Biden drops one point to 21%. (more...)
Dive day: Dow drops 800 points, S&P falls 2.9% on recession fears Dive day: Dow drops 800 points, S&P falls 2.9% on recession fears
- August 17, 2019

ENERGY: Benchmark U.S. crude fell another $1.03 to $54.20 per barrel in electronic trading on the New York Mercantile Exchange while Brent crude, used to price worldwide oils, declined $1.49 to $57.99 per barrel in London. The yield on 10-year Treasury slipped slightly to 1.57% following a sharp decline Wednesday. Those concerns helped pull the yield on the 10-year Treasury down as low as 1.48% on Thursday from Wednesday's 1.58%, another big move. (more...)
Oil Prices Crash on Recession Fears Oil Prices Crash on Recession Fears
- August 17, 2019

But oil's gains were capped after the Organization of the Petroleum Exporting Countries trimmed its global oil demand forecast in a downbeat outlook for the rest of 2019 as economic growth slows. Last month, OPEC along with its allies managed to renew a supply-cutting pact which will last until March 2020, with this aiming to avoid a build-up of inventories which could lower oil prices. (more...)
Hong Kong teachers' rally starts another weekend of protests Hong Kong teachers' rally starts another weekend of protests
- August 17, 2019

The movement represents the greatest challenge to Beijing's authority since the city was handed back by the British in 1997 under a deal that allowed it to keep freedoms that many Hong Kongers feel are being eroded. Speaking on Thursday, Trump urged Chinese counterpart Xi Jinping to meet protesters and solve the crisis "humanely". However, members of China's paramilitary People's Armed Police were seen marching and practicing crowd control tactics at a sport complex in Shenzhen. (more...)

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