Money


United States says China has pledged to buy U.S. as tough issues remain United States says China has pledged to buy U.S. as tough issues remain
- January 12, 2019

Lu said he had no details and an official statement would be issued later. In its first reaction after the talks, the Chinese Commerce Ministry said on Thursday both sides have actively implemented the significant consensus reached by the leaders of the two countries and conducted extensive, in-depth and detailed exchanges on trade and structural issues of common concern. (more...)
Detained Nissan's ex-chair Ghosn recovers from fever
- January 11, 2019

The breach of trust charge is regarded as particularly serious, and Ghosn's lawyer admitted on Tuesday that his client was unlikely to secure bail if prosecutors pressed the charge formally. Nissan said Friday it has filed its own criminal complaint against its former chief "on the basis of Ghosn's misuse of a significant amount of the company's funds". (more...)
FDA: Shutdown Means We're Not Doing 'Important Things' Like Inspections FDA: Shutdown Means We're Not Doing 'Important Things' Like Inspections
- January 11, 2019

The agency said it will focus attention on high-risk food items like seafood, bakery and dairy products, fruits and vegetables, prepared salads, infant formula and medical foods, FDA Commissioner Scott Gottlieb said. Under normal circumstances, the FDA inspects around 160 U.S. food production facilities a week, many of them deemed high-risk. "I said bye-bye, nothing else works!" From lettuce, to cereal and even ice cream - the FDA commissioner sent some stern tweets about potential ... (more...)
Apple plans to launch three new iPhone models this year Apple plans to launch three new iPhone models this year
- January 11, 2019

Sony last month said it was ramping up production of next-gen 3D sensors for mobile cameras after having received interest from manufacturing partners. Its XR-inspired model will probably stick with the LED screen from its current range, whilst the others will use OLED screens. The WSJ news confirms the presence of the three cameras, that according to the newspaper will be one of the key characteristics of the iPhone of 2019. (more...)
Fiat Chrysler to pay customers, governments for cheating emissions tests Fiat Chrysler to pay customers, governments for cheating emissions tests
- January 11, 2019

The settlement includes fines and more than $300 million in "consumer relief" and requires Fiat Chrysler to establish a recall program offering motorists an approved plan for modification their emissions systems. The Fiat Chrysler settlement won't include a determination that the company committed wrongdoing, a second person familiar with the matter said. "Fiat Chrysler's conduct was serious and egregious". (more...)
USA official warns of recession risk if interest rates go much higher USA official warns of recession risk if interest rates go much higher
- January 11, 2019

In remarks at an appearance in Little Rock, Arkansas, on Thursday, St. Louis Fed President James Bullard was blunt, saying that the central bank had reached the "end of the road" in its current rate increase cycle. Still, Powell's comments and those of other officials "are developing a new narrative ". He agreed with the prevailing view of the USA economy slowing to around 2.25-2.5 per cent this year, with unemployment holding around the current 3.9 per cent. (more...)
China-US trade talks have laid foundation for a deal, ministry says China-US trade talks have laid foundation for a deal, ministry says
- January 10, 2019

Both sides have actively implemented the significant consensus reached by the leaders of the two countries and conducted extensive, in-depth and detailed exchanges on trade and structural issues of common concern, said the statement. The talks "improved mutual understanding and laid a foundation for resolving issues of mutual concern", the ministry said. Trump has been demanding China to drastically reduce the Dollars 375 billion trade deficit and ensure IPR production for United States ... (more...)
Lucky Lincoln: Rare 1943 Penny Could Fetch Over $1 Million at Auction Lucky Lincoln: Rare 1943 Penny Could Fetch Over $1 Million at Auction
- January 10, 2019

Mint to strike all pennies on zinc-coated steel since copper was a strategic metal needed to make shell casing and other items during wartime. However, a handful of the coins were mistakenly pressed with copper, including the one Lutes found. (more...)
Gold holds steady as Fed rate pause bets weigh on dollar Gold holds steady as Fed rate pause bets weigh on dollar
- January 10, 2019

The pan-continental Stoxx Europe 600 fell 0.1% in opening trade. Gold prices are higher Monday morning, lifted by a weaker US dollar ahead of release of the minutes of the Federal Reserve's monetary policy meeting in December . Bostic, who is not a voting member of the Federal Open market Committee this year, said the Fed may only need to raise rates once in 2019. Expectations of no further rate hikes this year is likely to keep the greenback under pressure. (more...)
Jeff Bezos And Wife, MacKenzie Bezos, Announce Divorce Jeff Bezos And Wife, MacKenzie Bezos, Announce Divorce
- January 10, 2019

Why are Jeff and MacKenzie Bezos getting divorced? MacKenzie , who was 23 at the time and made the first move by asking Jeff out to lunch, was smitten. He owns about 16 per cent of the retailer as well as the Washington Post and Blue Origin. Some Twitter users couldn't resist taking a dig at the company's allegedly low wages and conditions for workers. (more...)
US, China trade talks conclude on positive note US, China trade talks conclude on positive note
- January 10, 2019

No details were immediately announced, but stocks rose after talks planned for two days were extended to three. "These issues are much more hard to solve immediately but are, frankly, much more compelling to USA companies", said Jake Parker, vice president for China operations of the U.S. (more...)
White House: Tax refunds will be paid despite govt. shutdown White House: Tax refunds will be paid despite govt. shutdown
- January 10, 2019

The decision could prove extremely consequential for US households and the USA economy. Bloomberg reports the average refund check past year in the USA was $2,899. Instead, a senior official in the Office of Management and Budget decided that issuing tax refunds should be considered an "indefinite appropriation". (more...)
GM workers stage another sit-in at Oshawa plant GM workers stage another sit-in at Oshawa plant
- January 10, 2019

The union proposals included continuing to produce sedans at the Oshawa plant until a long-term solution could be found. "It may not be profitable, but it certainly wouldn't cause them any sort of deep economic harm", said Dais. "Workers on the morning shift at Oshawa Assembly Plant staged a sit down to protest General Motors callous choice to close down the plant after 100 years of operation, despite the fact that the company acknowledges it could maintain the plant without injury to its ... (more...)
RCMP to break up northern B.C. First Nation's pipeline checkpoints Monday RCMP to break up northern B.C. First Nation's pipeline checkpoints Monday
- January 09, 2019

The first, which has been in place for nearly a decade, was set up by the Unist'ot'en , a house group of the Gilseyhu clan. Around 2012, the Unist'ot'en camp set up a blockade by constructing a gate and other obstacles to the area, and a second gate has been constructed recently at the Morice River Bridge, it said. (more...)
Crude oil rises back to $60 per barrel Crude oil rises back to $60 per barrel
- January 09, 2019

Asian markets rose on increasing optimism that the two sides would be able to hammer out a deal ahead of a March deadline and avert further import tariff hikes. Chinese officials have suggested Beijing might alter its industrial plans but reject pressure to abandon what they consider a path to prosperity and global influence. (more...)
Average price of oil will drop to $67 per barrel in 2019 Average price of oil will drop to $67 per barrel in 2019
- January 09, 2019

Oil rallied for a seventh day as US negotiators touted progress in trade talks with China and investors gained faith that OPEC will shrink output. “Progress in trade talks, softening of the Fed's stance, and a surprisingly good jobs report last week, have all, added to the impression that the demand side of the equation could also help to support energy prices, ” Yawger wrote. (more...)
Time is running out for Sears; bankruptcy hearing Tuesday Time is running out for Sears; bankruptcy hearing Tuesday
- January 09, 2019

A judge still needs to approve the agreement. It gives Sears a chance to survive, which appeared to be slipping way heading into the hearing. Lampert has shuttered hundreds of money-losing stores, cut more than $1 billion in annual expenses, and spun off units such as Lands' End Inc. (more...)
Samsung announces Q4 2018 earning guidance, operating profit down 29% Samsung announces Q4 2018 earning guidance, operating profit down 29%
- January 09, 2019

Samsung estimated profit at about 10.8 trillion won ($9.67 billion) for October-December last year, down 29 percent from the same period a year earlier. Demand for DRAM memory chips "will hit a low in the fourth quarter of 2019", he told AFP news agency. DRAMeXchange anticipates memory chip prices to fall 10 percent on an average in the first quarter. (more...)
Flights suspended at Heathrow due to drone sighting Flights suspended at Heathrow due to drone sighting
- January 08, 2019

We are responding to a drone sighting at Heathrow and are working closely with the Met Police to prevent any threat to operational safety. "As a precautionary measure, we have stopped departures while we investigate", it said. One tweeted: "We've been sitting on the runway at Heathrow for like an hour and a half". More than 140,000 passengers had their flights disrupted and more than 1,000 flights were affected between December 19th and December 21st 2019. (more...)
Tesla breaks ground on factory in Shanghai Tesla breaks ground on factory in Shanghai
- January 08, 2019

Domestic production would help shield Tesla against import duties as the US and China find ways to wriggle out of the tariff quandary. Construction has officially begun on Tesla's new massive manufacturing plant on the outskirts of Shanghai , which, in the not too distant future, hopes to turn out half a million cars a year. (more...)

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