Money


Oil prices surge to near four-year high Oil prices surge to near four-year high
- September 25, 2018

The Middle East dominated Organization of the Petroleum Exporting Countries as well as top producer Russian Federation are discussing raising output to counter falling supply from Iran, although no decision has been made public yet. OPEC isn't the only organization that believes there is only so much US oil production can increase. Russian Energy Minister Alexander Novak said no immediate output increase was necessary, although he believed a trade war between China and the United States as ... (more...)
SiriusXM buys Pandora to create 'the world's largest audio entertainment company' SiriusXM buys Pandora to create 'the world's largest audio entertainment company'
- September 25, 2018

The combination brings together SiriusXM's base of over 36 million subscribers across North America and 23 million+ annual trial listeners, and Pandora's 70 million monthly active users. SiriusXM couldn't possibly forget to mention its "extensive automotive relationships" as a way to beef up Pandora's presence on smartphones, computers, and cars nationwide. (more...)
Oil Prices to Be 'Cheaper' if Trump Stops Tweeting, Iran Official Says
- September 24, 2018

The committee said in a statement that it was satisfied "regarding the current oil market outlook, with an overall healthy balance between supply and demand". Experts estimate that once USA sanctions on Iran are fully implemented from November it could result in the loss of as many as two million barrels a day from global supply. (more...)
Michael Kors set to snap up Italy's Versace Michael Kors set to snap up Italy's Versace
- September 24, 2018

However according to Neil Saunders, managing director of consultancy GlobalData Retail, both Versace and the Michael Kors brand still have issues to address to improve their appeal. Versace designs, manufactures and distributes clothes, jewellery, watches, eyewear, accessories and home furnishings that bear the company's distinctive Medusa logo. (more...)
Six Flags contest invites guests to stay in coffin for 30 hours Six Flags contest invites guests to stay in coffin for 30 hours
- September 24, 2018

Louis is celebrating "30 Years of Scream" during their annual Freight Fest with a 30-Hour Coffin Challenge . To top it off, phone charging stations will be available, which means you could theoretically Netflix your way through this vampire simulator. (more...)
Oil prices at 4-year high after OPEC rebuffs Trump
- September 24, 2018

This deal was upheld at Sunday's meeting. J.P. Morgan says per cent sanctions on Iran could lead to a loss of 1.5 million bpd, while Mercuria warned that as much as 2 million bpd could be knocked out of the market. "The reason Saudi Arabia didn't increase more is because all of our customers are receiving all of the barrels they want". The bullish sentiment also infected Wall Street bankers and hedge funds, with some caveats. (more...)
Volkswagen's Porsche drops diesel in electric car push Volkswagen's Porsche drops diesel in electric car push
- September 24, 2018

Even though Porsche never produced its own diesel-powered engines, "the image of Porsche suffered nonetheless". Diesel versions of cars like the brand's Cayenne and Macan sports utility vehicles accounted for 12 percent of global sales a year ago, according to the statement. (more...)
Ripple Soars, Overtakes Ethereum As 2nd Largest Crytpocurrency Ripple Soars, Overtakes Ethereum As 2nd Largest Crytpocurrency
- September 24, 2018

PNC is one of the most important and biggest banks in the U.S., and for instance, back in 2017, it had a revenue of $16.32 billion. Within a few minutes, ETH shot up from around $230 to $250. Later in March, a Japanese bank consortium said it will launch an instant domestic payments application "MoneyTap" also driven by the technology of Ripple . (more...)
Needles found in Australian strawberries bound for New Zealand Needles found in Australian strawberries bound for New Zealand
- September 24, 2018

The company urged NZ residents to cut up strawberries before eating them, echoing similar advice in Australia. Consumers have rallied around strawberry producers nationally after weeks of health warnings following needles discovered in three Queensland brands - Berry Licious, Berry Obsession and Donnybrook. (more...)
Music industry reacts to sacking of ABC boss Michelle Guthrie Music industry reacts to sacking of ABC boss Michelle Guthrie
- September 24, 2018

Michelle Guthrie , ABC's managing director who was sacked by the board this morning, is considering her legal options, claiming the board had no grounds to terminate her employment. "So, in this case the board decided that it wasn't working out and decided that we should do a reset and that is what we have made a decision to do", he said. (more...)
Australia supermarket bans needles amid strawberry crisis Australia supermarket bans needles amid strawberry crisis
- September 23, 2018

He also revealed that investigators believe the original sabotage was confined to three strawberry brands sold in Queensland. STRAWBERRIES imported from Australia are being thoroughly checked at the country's entry points following the discovery of sewing needles in the fruit. (more...)
Tilray Roller Coaster Speeds Lower as Pot Mania Shows Fatigue Tilray Roller Coaster Speeds Lower as Pot Mania Shows Fatigue
- September 23, 2018

Aurora surged in popularity this week after reports emerged that Coca-Cola was talking with Aurora to produce cannibis-infused drinks. Canopy Growth has more than doubled in value this year, and another rival trading in the U.S., Cronos Group has jumped 78 percent. (more...)
Chennai Petroleum cancels Iran oil imports Chennai Petroleum cancels Iran oil imports
- September 23, 2018

In 2010, India's central bank ceased using a Tehran-based regional body, the Asian Clearing Union, to handle transactions with Iran. In this get-together meeting, Yu Chang Hwang pointed to the issues that have recently been raised in relation to the trade and economic cooperation between the two countries and said , "the fact is that South Korean companies are interested in working in Iran and want to continue their trade and business cooperation with Iran". (more...)
Dow Jones Industrial Average, S&P 500 trade at record highs Dow Jones Industrial Average, S&P 500 trade at record highs
- September 23, 2018

The S&P 500 is up almost 10 percent this year, and the Dow is about 8 percent higher. Amazon.com slid 0.8 percent as European Union regulators looked into whether the largest online retailer was using merchant data to stifle competition. (more...)
People Can't Believe These Taped-Up, Dirty-Looking Sneakers Cost $530 People Can't Believe These Taped-Up, Dirty-Looking Sneakers Cost $530
- September 23, 2018

Nordstrom just stocked up on a new pair of sneakers that look worn, and it's going to cost you $530 if you're interested. Nordstrom has designed clothes that have a distressed look in the past. The company recently sold a pair of PRPS men's trousers, caked with fake dirt , for $425; and a pair of Topshop "mom jeans" with see-through knees for $95. (more...)
Iran's Oil Exports Rapidly Decline As Other Producers Fill The Void Iran's Oil Exports Rapidly Decline As Other Producers Fill The Void
- September 23, 2018

Varga further expanded by saying that the current trade war between the USA and other countries should have impacted the price of oil. East Coast refiners, however, primarily look at the Brent-WTI spread to determine if the additional cost of acquiring and transporting domestic crude oil to the East Coast would be economical compared to importing crude oil from worldwide sources-the wider the spread, the more East Coast refiners increase the intake of domestic crude oil. (more...)
Walmart warning it'll raise prices as Trump's China tariffs kick in Walmart warning it'll raise prices as Trump's China tariffs kick in
- September 23, 2018

President Trump appears to be winning the trade war against China. And we will come back with more if they retaliate. We have rebuilt China. China responded cautiously, announcing roughly comparable tariffs on $50 billion of U.S. Trump also threatened to raise the rate of the tariff to 25 percent if there is no US-Chinese deal that meets US requirements by the end of the year. (more...)
Comcast Battle to Buy Sky to be Settled by Auction in UK Comcast Battle to Buy Sky to be Settled by Auction in UK
- September 23, 2018

The auction will take place the following day in private and is slated to finish during the evening, when the regulator will announce the level of the bids submitted by the suitors. (Walt Disney, however, has agreed to acquire a big portion of Fox for roughly $71 billion, including a stake in Sky.) Murdoch still has ambitions to boost his holdings in the United Kingdom media prize. (more...)
What do shoppers think of the new Jack's brand launched by Tesco? What do shoppers think of the new Jack's brand launched by Tesco?
- September 22, 2018

The Chatteris store enjoyed a successful first morning, right, with hundreds pouring through the doors at 10am to be greeted with champagne, bacon sandwiches and cupcakes. "Great-tasting food at the lowest possible prices with 8 out of 10 products grown, reared or made in Britain". Sir Jack, who was born Jacob Edward Kohen to Polish parents in 1898, was a Whitechapel grocer who served in the British Army in Egypt and Palestine during the First World War before returning home to establish the ... (more...)
Audi's first all-electric SUV, the e-tron, revealed Audi's first all-electric SUV, the e-tron, revealed
- September 22, 2018

Audi's e-tron will be available to consumers toward the middle of next year. He also emphasised that the e-tron is created to recharge more rapidly than rival electric vehicles. The home charging stations sold by Amazon will price around $1,000 each, which includes installation. With the help of specific sensor technologies, the DTS reacts and communicates with employees in the different parts of the facility and when the units require recharging they automatically drive to an induction ... (more...)

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