Money


Oil dips as IMF lowers global growth outlook; eyes on US hurricane
- October 10, 2018

India, the world's third-largest oil importer, is a major importer of Iranian oil. Secretary of State Mike Pompeo said on a visit to India in September that some waivers from the sanctions might be granted to countries buying Iranian oil, but only if they agreed to cut their imports to zero. (more...)
International Monetary Fund lowers South Africa’s economic growth forecasts, urges reforms International Monetary Fund lowers South Africa’s economic growth forecasts, urges reforms
- October 10, 2018

The revised estimates includes a worsening outlook for developing economies this year and next compared to the July report, as well as downgrades for the U.S. The eurozone's 2018 growth forecast was cut to 2.0 percent from 2.2 percent previously, with Germany particularly hard hit by a drop in manufacturing orders and trade volumes. (more...)
Super Micro Trojan: US and UK Back Apple and Amazon Denials Super Micro Trojan: US and UK Back Apple and Amazon Denials
- October 09, 2018

A detailed analysis of the Bloomberg report on technology site The Register noted both Apple and Amazon "would want to keep any highly confidential information and contacts with intelligence services as quiet as possible". Bloomberg said on Friday it stood by its story , which was based on 17 anonymous sources. Tech literacy in the USA, particularly within our government, is in a pretty sorry state; it's not hard to imagine someone "with knowledge of the situation" overhearing a ... (more...)
Oil prices steady after Iranian exports fall further Oil prices steady after Iranian exports fall further
- October 09, 2018

Of the 220.4 million metric tonnes (million MT) of crude oil imported by India in 2017-18, about 9.4 per cent, was from Iran. President Donald Trump has pulled the United States out of a historic 2015 accord with energy-rich Iran signed to curb the Islamic republic's nuclear programme in return for ending sanctions. (more...)
When Hurricane Michael will bring rain to Richmond When Hurricane Michael will bring rain to Richmond
- October 09, 2018

Rick Scott issued a state of emergency for 26 counties on Sunday, as member station WFSU reports . In some parts of the Florida coast, storm surges are projected to approach eleven feet. Forecasters say the storm will gain more intensity through Tuesday, with a chance it will weaken somewhat as it nears land in Florida. Locally, Manatee County Public Safety officials were not ready to declare a local state of emergency , but are in a "monitor and wait" pattern, director Bob ... (more...)
Crude Oil Price Analysis: Risk Premiums Unwind as US Mulls Waivers Crude Oil Price Analysis: Risk Premiums Unwind as US Mulls Waivers
- October 08, 2018

Oil traders initially reacted to a selloff in Chinese stocks, but as the USA stock market opened higher, "we've pulled back dramatically", said Mark Anderle, an energy trader at TAC Energy. Sri Lanka, a country closely watched by the United States is expected to raise oil prices again by Wednesday midnight under the fuel price formula in line with increasing global prices. (more...)
India to Continue Iranian Oil Imports after US Sanctions India to Continue Iranian Oil Imports after US Sanctions
- October 08, 2018

On Wednesday, Brent hit its highest price since late 2014, at $86.74. In 2015, the administrations of former President Barack Obama and Iranian President Hassan Rouhani forged an unprecedented deal to lift extensive US sanctions on Iran in exchange for the country to agree to restrict its nuclear activities, which it maintained were strictly for peaceful purposes. (more...)
Mattress Firm files for Chapter 11 bankruptcy protection Mattress Firm files for Chapter 11 bankruptcy protection
- October 08, 2018

Bankruptcy Court in DE to implement a prepackaged plan of reorganization. The company could eventually close 700 of its 3,000 locations. Among the stores targeted for closing in its location at 610 S.E. The retailer, which said it will continue to serve customers as usual at stores and online during the process, has also received $775 million to fund ongoing operations and repay debt and costs associated with the restructuring. (more...)
In the USA, recorded a minimum level of unemployment for 50 years In the USA, recorded a minimum level of unemployment for 50 years
- October 07, 2018

The unemployment rate had been expected to edge down to 3.8 percent. Not all of the news in the household survey was positive. Friday's job report confirmed a strengthening job market. The movie industry lost 300 jobs in September. Construction workers fared a bit better at +2.8% hourly and +3.6% weekly. It's easy to get excited about unemployment and the economy when you hear that unemployment is at the lowest level since 1969, the economy is booming and wages are growing. (more...)
INSTANT VIEW 2-India keeps policy rate unchanged in surprise move INSTANT VIEW 2-India keeps policy rate unchanged in surprise move
- October 07, 2018

But in light of the prevailing uncertainties, the committee maintained a neutral stance till August. Market is reacting strongly to Brent crude movements and with current pace 75 can likely be seen if crude touches 88-90 levels. The key question for markets ahead of the central bank meeting this Friday is whether it will overlook the rupee's weakness? During his media address, RBI governor Urjit Patel stressed that the plummeting value of rupee is moderate in comparison to ... (more...)
Crude oil futures down Rs 8 a barrel on profit-booking Crude oil futures down Rs 8 a barrel on profit-booking
- October 07, 2018

More ominously, they said they won't be able to meet a demand for Arab light crude in the long-run if Iran is forced out of the market by the U.S. However, high crude prices, combined with widespread emerging market currency weakness, threaten growth. (more...)
Petrol, diesel prices cut by Rs 2.50 per litre Petrol, diesel prices cut by Rs 2.50 per litre
- October 06, 2018

Top sources said that the state government is also considering a reduction in the prices of diesel . The Communist Party of India- Marxist (CPI-M) led Left Democratic Front government in Kerala on Thursday, 4 October ruled out slashing the cess on petrol and diesel to match the Centre's announcement in fuel price cut. (more...)
U.S. job growth slows but unemployment rate falls to 3.7% U.S. job growth slows but unemployment rate falls to 3.7%
- October 06, 2018

A total of 270,000 jobs were gained in August, up from 201,000. It further states that such people are "less likely to have formal work arrangements, and are therefore more likely to lack decent working conditions, adequate social security and "voice" through effective representation by trade unions and similar organizations". (more...)
Theresa May to tell conference Theresa May to tell conference
- October 06, 2018

But she did her best to appear carefree as she sashayed on to the stage to the Abba hit Dancing Queen - a reference to the much-shared video of her dancing on a trip to Africa - and joked about the coughing fit and collapsing stage backdrop which marred her calamitous conference speech in Manchester a year ago. (more...)
Trump rewrites rules of trade with new deal Trump rewrites rules of trade with new deal
- October 05, 2018

The Trump administration officially notified Congress of the US-Mexico trade agreement on August 31. Several weeks before that, during the G-6 meeting in June, Trump had called Canadian Prime Minister Justin Trudeau a "weak" and "dishonest" backstabber. (more...)
Vice President Mike Pence paints China as enemy in USA election Vice President Mike Pence paints China as enemy in USA election
- October 05, 2018

Mr Pence said Beijing had "mobilised covert actors , front groups, and propaganda outlets to shift Americans' perception of Chinese policies" and was targeting its tariffs to hurt states where Mr Trump has strong support. In his speech, Pence cited unnamed sources in the U.S. intelligence community claiming that Beijing planned to target state and local governments in the USA and exploit "wedge issues" to advance China's interests. (more...)
Aston Martin valued at £4.33bn as float begins Aston Martin valued at £4.33bn as float begins
- October 05, 2018

Luxury British carmaker Aston Martin has cut the upper end of its initial public offering price range to 20 pounds per share, giving it a potential market value of up to 4.6 billion pounds ($6 billion), following mixed feedback from investors. (more...)
Toyota recalls 2.4 million hybrid cars due to stalling problems Toyota recalls 2.4 million hybrid cars due to stalling problems
- October 05, 2018

A total of 2.4 million cars will be recalled worldwide including 1.25 million sold in Japan, 830,000 in North America and 290,000 in Europe. Toyota said it was not aware of any actual accidents caused by the fault. "While power steering and braking would remain operational, a vehicle stall while driving at higher speeds could increase the risk of a crash", Toyota said. (more...)
VP Pence: China 'Meddling in America's Democracy'
- October 05, 2018

In the prepared remarks provided by his office, Pence charges that China is targeting "industries and states that would play an important role in the 2018 election" as it responds to Trump's protectionist trade tariffs on China. "It is very ridiculous for the U.S. side to stigmatize its normal exchanges and cooperation with China as China interfering in its internal affairs and elections", Hua said . (more...)
US Asks Google To Shun China Search Engine Project US Asks Google To Shun China Search Engine Project
- October 05, 2018

Speaking on behalf of the White House, he held up the recent clash between United States and Chinese warships in the South China Sea as an example of Chinese "aggression". But Apple and Amazon denied the report . Pence also said China had deployed anti-ship and anti-air missiles on islands it is building in the disputed South China Sea, despite promises not to militarize them. (more...)

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