Money


Pompeo to travel to North Korea Pompeo to travel to North Korea
- October 04, 2018

This comes after North Korea's foreign minister Ri Yong-ho said last weekend, . there was "no way" the regime would disarm first without seeing trust-building measures from the U.S. A commentary on North Korea's official KCNA news agency this week, however, said the declaration should have been resolved half a century ago and it could never be a bargaining chip to persuade it to denuclearize. (more...)
Centre Slashes Fuel Prices By Rs 2.50, Seven States Follow: 10 Points Centre Slashes Fuel Prices By Rs 2.50, Seven States Follow: 10 Points
- October 04, 2018

Together, these price reductions would add up to Rs 2.50 a litre - a significant relief at a time when rising fuel prices have been a cause for concern among the common man. reaching their highest level in seven years. Incidentally, Maharashtra charges highest sales tax/VAT on petrol at 39.12 per cent. States saw their Value-Added Tax revenue from petro goods rise from Rs 1,37,157 crore in 2014-15 to Rs 1,84,091 crore in 2017-18. (more...)
Rupee plunges to record low of 73.77 against USA dollar Rupee plunges to record low of 73.77 against USA dollar
- October 04, 2018

DBS economist Radhika Rao expects a rate hike, along with the RBI shifting its stance to "hawkish" from "neutral". It had closed at 73.3350 on Wednesday. It has been continuously pressured this year by higher oil prices. The NSE Nifty fell 93.55 points, or 0.85 per cent, to 10,914.75.Top laggards include Maruti Suzuki, Asian Paint, TCS, Coal India, HDFC Bank, SBI and IndusInd Bank, falling up to 2.18 per cent. (more...)
President Trump announces new trade deal with Mexico, Canada President Trump announces new trade deal with Mexico, Canada
- October 04, 2018

He blames the treaty for the loss of American manufacturing jobs and has repeatedly threatened to abandon the trade past signed in 1994, during the Clinton administration. A US official quoted by Reuters said the aim was for the agreement to be signed by the end of November before being submitted to the US Congress for approval. (more...)
Mexican, Canadian steel lobbies urge fix to US tariff dispute Mexican, Canadian steel lobbies urge fix to US tariff dispute
- October 04, 2018

Jersey cows at Silver Spring Farm in Syracuse. Governing nearly $1.2 trillion in trade, the pact known as the US-Mexico-Canada Agreement, or USMCA , is "the most important trade deal we've ever made by far", Trump told a White House press conference. (more...)
President Trump touts 'historic' USMCA President Trump touts 'historic' USMCA
- October 04, 2018

The North American trade agreement has been renamed the United States-Mexico-Canada Agreement ( USMCA ). Canada and Mexico are our two largest export markets. The Washington Council on International Trade, which has advocated for modernizing NAFTA to enhance competitiveness of Washington in global markets, said in a statement it is looking forward to learning more about the new trade agreement and its potential. (more...)
Oil hits $84, Nigerian cargoes struggle for buyers Oil hits $84, Nigerian cargoes struggle for buyers
- October 03, 2018

USA light crude futures were up $1.13 at $74.34 a barrel, also the highest in almost four years. WTI is up by nearly 18 percent since mid-August. According to Reuters , Brent futures LCOc1 settled at its highest with close to $85 per barrel price earlier this week, which is up by USD$2.25 or 2.7 percent from the previous increase. (more...)
Brent crude near 4-year high as Washington's Iran sanctions loom Brent crude near 4-year high as Washington's Iran sanctions loom
- October 02, 2018

More fundamentally, oil markets have been pushed up by looming US sanctions against Iran's oil industry, which at its most recent peak this year supplied nearly 3 percent of the world's almost 100 million barrels of daily consumption. The contract surged 2.8 percent to $75.30 on Monday. Total volume traded was about 56 percent below the 100-day average. However, China's Sinopec (600028.SS) is halving loadings of crude oil from Iran this month, in a sign that pressure from Washington is ... (more...)
A national emergency alert test is happening on your phone tomorrow A national emergency alert test is happening on your phone tomorrow
- October 02, 2018

EDT, will have the same tone and vibration pattern as the typical tornado warning and AMBER alert WEA messages, according to a statement from the Massachusetts Emergency Management Agency. "Does this mean I'm going to get whatever message President Trump wants to send out through this alert system now?'" Werner said. Unlike most other alerts sent by the agency, this one can not be opted out of, so short of turning the device off or blocking the wireless signal, there will be no way to avoid ... (more...)
Amazon raises minimum wage for all US, UK employees Amazon raises minimum wage for all US, UK employees
- October 02, 2018

The wage hike will benefit more than 350,000 workers, which includes full-time, part-time, temporary and seasonal positions. Employees of Whole Foods Market and all other Amazon subsidiaries are included in the wage increase. Bureau of Labor Statistics show ordinary workers in the US private non-farm sector on average earn $22.73 an hour. The decision raises the stakes even further for Amazon's so-called HQ2 competition - its plan to create a second headquarters, with as many as 50,000 jobs. (more...)
Amazon raises wages for lower-paid workers
- October 02, 2018

Amazon says it will also lobby to have the federal minimum wage increased from its current $7.25 per hour. The $15 per hour wage will include all types of employee: full-time, part-time, seasonal and temporary. "The current rate of $7.25 was set almost a decade ago", said Jay Carney, senior vice president of Amazon Global Corporate Affairs, in the statement. (more...)
Elon Musk resigns as Tesla chairman, but remains CEO Elon Musk resigns as Tesla chairman, but remains CEO
- October 02, 2018

Elon Musk will continue as the CEO of the company. The settlement leaves Musk as CEO. Today's sharp upturn in Tesla's share price served as a signal from investors that the settlement didn't put too heavy of a burden on the company's operations. (more...)
Sahi Vikas: Petrol, Diesel, LPG At Historic High Sahi Vikas: Petrol, Diesel, LPG At Historic High
- October 02, 2018

After the daily increase in prices of petrol and diesel, people now have to worry about cooking gas . Reports claim that India is the third largest importer of crude oil and the rise in worldwide oil markets are resulting in the inflation of transport fuel costs in the country. (more...)
NAFTA 2.0 is just a warmup to Trump’s bout with China
- October 02, 2018

The measures will have a "dramatic impact" on dairy farmers and cause the industry to shrink, said Pierre Lampron, president of Dairy Farmers Canada , in a statement . "I would say this is a good deal in that it protects our interests, it sets a good foundation for future discussions", he said. "I want to see San Antonio businesses doing more trade with Canada and Mexico", Castro said. (more...)
General Electric Company (GE) Stock General Electric Company (GE) Stock
- October 02, 2018

Culp was CEO and president of industrial manufacturer Danaher Corp. from 2000 to 2014. Flannery worked to divest GE's interests in other operations and improve the company's increasingly poor performance. corporation and a global symbol of American business power . Flannery vowed to give GE more of a high-tech and industrial focus by honing in on aviation, power and renewable energy - businesses with big growth potential. (more...)
GE's Flannery steps down as CEO, shares jump 15 percent GE's Flannery steps down as CEO, shares jump 15 percent
- October 01, 2018

GE will need to take a goodwill impairment charge of almost all the $23 billion in its goodwill balance, according to the company. Flannery took over as CEO after Jeffrey Immelt stepped aside on August 1, 2017, after 16 years in the role. (more...)
USA federal government sues California after it signs net neutrality law USA federal government sues California after it signs net neutrality law
- October 01, 2018

The government said that California sought to "second-guess" the federal government and warned "the effect of this state legislation would be to nullify federal law across the country". The Trump administration rules were a win for providers like Comcast Corp ( CMCSA.O ), AT&T Inc (T.N) and Verizon Communications Inc ( VZ.N ), but the net neutrality repeal was opposed by internet companies like Facebook Inc ( FB.O ), Amazon.com Inc ( AMZN.O ) and Alphabet Inc ( GOOGL.O ). (more...)
Tesla shares jump after SEC settlement leaves Musk as CEO Tesla shares jump after SEC settlement leaves Musk as CEO
- October 01, 2018

On Friday, its stock dropped nearly 14 per cent. Relief at the settling of the lawsuit drove the biggest one-day gain in Tesla shares in more than five years. The SEC said the company had no way to determine if his tweets contained information that must be disclosed in corporate filings, or if they contained complete and accurate information. (more...)
Facebook hacked: Is your account safe? Facebook hacked: Is your account safe?
- October 01, 2018

Check where you are logged into Facebook in the Security and Login tab. Campbell added that this won't be the last time we see a data breach and hopes Facebook users will take his advice to avoid any future problems. Facebook has now patched the vulnerabilities and revoked the compromised access tokens, forcing affected users to log back in (though their passwords haven't been compromised, the company says) and notifying them about the issue. (more...)
Tesla shares jump as SEC settlement leaves Musk in CEO role Tesla shares jump as SEC settlement leaves Musk in CEO role
- October 01, 2018

Whoever becomes the new chairperson of Tesla Motors will face the formidable task of reining in Elon Musk , the charismatic, visionary chief executive with an impulsive streak, while also helping Musk achieve his dream of turning Tesla into a profitable, mass-market producer of environmentally friendly electric cars. (more...)

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