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United Kingdom defence secretary concerned about Huawei's role in 5G networks upgrade United Kingdom defence secretary concerned about Huawei's role in 5G networks upgrade
- December 28, 2018

The executive order doesn't name Huawei and ZTE , instead, it directs Commerce Department to block US companies from buying equipment from foreign telecommunication makers that pose major national security risks. The US has long harboured the grouse that the telecom giants are tightly controlled by Chinese government and their equipment would be used as backdoor spying channels by Beijing . (more...)
Boxing Day shopping was madness across Canada this year Boxing Day shopping was madness across Canada this year
- December 28, 2018

But did you know that in some parts of the world, the day after Christmas is deemed equally as important? The BBC has compiled a menu of vaguely disquieting recipes for Boxing Day brunch, including Christmas cake soufflés, cheesy sprout fondue, and "ham and watercress salad with clementine dressing" - plus several dishes involving mincemeat, which, in case you aren't familiar, is made of chopped fruit and spices and is used to fix buildings in war-torn countries. (more...)
Fed’s Powell Is ‘100%’ Safe, Trump Adviser Hassett Says Fed’s Powell Is ‘100%’ Safe, Trump Adviser Hassett Says
- December 28, 2018

His gradual interest rate hikes had reportedly created tension with the president. President Donald Trump's messaging-chiefly, his tweets-aren't doing the American economy any favors, former economic officials have told the White House, according to a report this week from the Wall Street Journal . (more...)
Tokyo keeps global investors on tenterhooks as Nikkei rebound fades Tokyo keeps global investors on tenterhooks as Nikkei rebound fades
- December 27, 2018

The benchmark Nikkei 225 index jumped 3.80% or 733.58 points to 20,060.64 in early trade while the broader Topix index was up 3.94% or 56.33 points at 1,487.80. Many Asian markets including Hong Kong, South Korea, and Australia were closed on Christmas day and the report reveals that the European and USA market will also be closed. (more...)
Can Trump fire Fed chairman Jerome Powell? Can Trump fire Fed chairman Jerome Powell?
- December 27, 2018

The Dow Jones Industrial Average sank 653.17 points, or 2.9 percent, to 21,792.20. With the S&P 500 down 17 per cent since September, the benchmark is on pace for its worst quarter since 2008. President Donald Trump has privately asked cabinet members if he has the authority to fire Federal Reserve Chairman Jerome Powell after interest rates were increased and the stock market plummeted, United States media reported Saturday. (more...)
Dad flew with flight attendant daughter to keep her company Dad flew with flight attendant daughter to keep her company
- December 27, 2018

In the spirit of spending time with family this holiday season, an American man booked multiple flights with Delta Air Lines over two days just so that he could be with his daughter, a flight attendant . But her dad, who's since been dubbed father of the year for his brilliant idea, was adamant his daughter wouldn't have to skip family time - and chose to book himself on every flight she was working on. (more...)
Dow Jones surges more than 1000 points Dow Jones surges more than 1000 points
- December 27, 2018

Trump's condemnation of the Fed and his escalating trade disputes have led to shaky confidence in the USA economy. While U.S. stocks are still headed for their first annual loss in almost a decade, Wednesday's trading has brought early glints of relief as a new year approached. (more...)
Crude Oil Price Plunges 6% As Economic Slowdown Fears Grip Market Crude Oil Price Plunges 6% As Economic Slowdown Fears Grip Market
- December 27, 2018

While the increases where much more than expected levels, the declines in inventories in the past three weeks have been much less than forecasts. Prices have declined because of investors' concerns that the market may be oversupplied, and an OPEC decision on December 7 to cut output by 1.2 million barrels per day from October levels starting January 1 has so far failed to significantly stop crude oil's declining trend. (more...)
The Chinese have released a budget competitor to the Tesla Model Y The Chinese have released a budget competitor to the Tesla Model Y
- December 26, 2018

As indicated by the California-based electric carmaker's Chinese site, costs of certain Model 3 vehicles were sliced by up to 7.6 percent. Backed byFoxconnandAlibaba, and valued at around $3 billion, Xiaopeng, or Xpeng, has gained some notoriety in the run-up to the release of its first auto because its concept designs borrowed heavily from Tesla's Model X. (more...)
Largest US Banks Assure Gov't of Having Enough Liquidity for Lending - Mnuchin Largest US Banks Assure Gov't of Having Enough Liquidity for Lending - Mnuchin
- December 26, 2018

Investors are betting US economic growth will slow as a tax cut stimulus fades and as three years of gradual interest rate hikes by the Federal Reserve cool purchases made by businesses and households. On Sunday, after stock markets suffered their worst week in a decade , treasury secretary Steve Mnuchin revealed he had spoken to the heads of six major banks and convened the Working Group on Financial Markets, a presidential advisory panel known colloquially as the "plunge protection ... (more...)
After Gatwick chaos, minister says detection systems can combat drones After Gatwick chaos, minister says detection systems can combat drones
- December 26, 2018

Cara Delevingne keeps a low profile while making her way into Gatwick Airport for a flight out of town on Monday (December 24) in London , England. The BBC reported last week that two drones flying "over the perimeter fence and into where the runway operates from" were spotted by bystanders late Wednesday, with a third reportedly seen on Thursday morning. (more...)
Stores open for last minute Christmas Eve shopping Stores open for last minute Christmas Eve shopping
- December 26, 2018

Other Walmart stores open with normal hours the day after Christmas. Starbucks: Many locations for the coffee chain are open, but hours vary. Most Rite Aid locations that are open 24 hours a day were open on Christmas Eve and Christmas Day. (more...)
Mega Millions Christmas jackpot tops $320 million; Powerball hits $294 million Mega Millions Christmas jackpot tops $320 million; Powerball hits $294 million
- December 26, 2018

The winning numbers were 5, 28, 62, 65, 70 and Mega Ball 5. The Powerball jackpot grew to $294 million and winning numbers will be pulled on Wednesday. The immediate cash value of the prize, which winners can opt to take, is $193.7 million, Mega Millions said. To win that jackpot, players are going up against some big odds. (more...)
Japanese court approves 10-day detention for Nissan's ex-chair Carlos Ghosn Japanese court approves 10-day detention for Nissan's ex-chair Carlos Ghosn
- December 26, 2018

The district court rejected Thursday a request sent from the special investigation squad of the Tokyo prosecutors' office to extend the detention of Ghosn and Greg Kelly, a former Nissan representative director who was also arrested a month ago over earlier allegations of understating the former chairman's remuneration. (more...)
'I do' have confidence Treasury Secretary Mnuchin 'I do' have confidence Treasury Secretary Mnuchin
- December 26, 2018

All three major indexes ended down more than 2 per cent the day before the Christmas holiday. The S&P 500 index is on track for its biggest percentage decline in December since the Great Depression. "I think the increasing of interest rates and the shrinking of the Fed portfolio is an absolute bad thing to do at this time especially in light of my major trade negotiations which are ongoing, but I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so, "' ... (more...)
United Kingdom police arrest two over Gatwick drones United Kingdom police arrest two over Gatwick drones
- December 26, 2018

The drones were first spotted at around 9pm on Wednesday, forcing the airport to close its runway over safety fears . The couple were named and shamed by the United Kingdom tabloid The Mail on Sunday , which published a large front-page photo of them with the headline, "Are These the Morons Who Ruined Christmas? ". (more...)
Oil plunges 6 per cent as economic slowdown fears grip market Oil plunges 6 per cent as economic slowdown fears grip market
- December 26, 2018

Despite that, oil prices fell on Friday to their lowest since the third quarter of 2017 as global oversupply kept buyers away from the market ahead of holidays over the next two weeks. However, economists say the rebound has little, if anything, to do with OPEC policies, and has been driven by the concerns of disinvestment in the USA shale industry, which could affect North American production and push prices up. (more...)
Dow's wild ride continues after Steven Mnuchin fails to calm markets Dow's wild ride continues after Steven Mnuchin fails to calm markets
- December 26, 2018

The timing of Mnuchin's curious statement could not be worse. "The CEOs confirmed that they have ample liquidity for lending to consumer, business markets , and all other market operations", the statement published on Twitter said. Powell, say insiders, is close to "Jeff Sessions-level" disfavor with Trump. But in his calls, the Treasury chief "also confirmed that they have not experienced any clearance or margin issues and that the markets continue to function properly", meaning ... (more...)
Oil prices lower ahead of holiday in light trading Oil prices lower ahead of holiday in light trading
- December 26, 2018

OPEC and Russian Federation agreed to cut joint oil production by 1.2 million bpd. The latest tumble left crude prices down 44% since reaching a four-year peak in October - including a 19% falloff since OPEC and Russian Federation announced major output cuts earlier this month. (more...)
Donald Trump insists shutdown will not end unless Congress funds border wall Donald Trump insists shutdown will not end unless Congress funds border wall
- December 25, 2018

President Donald Trump and top Democrats in Congress sparred over the partial shutdown of the US government on Monday, with no sign of tangible efforts to reopen agencies closed by a political impasse over Trump's demand for border wall funds. (more...)

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