Money


Das says RBI won’t prejudge the liquidity situation: Policy Highlights Das says RBI won’t prejudge the liquidity situation: Policy Highlights
- February 07, 2019

With inflation concerns easing, the Reserve Bank of India on Thursday cut the repo rate by 25 basis points to 6.25 per cent and changed the monetary policy stance from calibrated tightening to neutral. India's retail inflation declined from 3.4 per cent in October 2018 to 2.2 per cent in December, well below the bank's target of four percent. The Narendra Modi government at the Centre had revised the GDP growth estimates for the financial year 2017-18 to 7.2% from its earlier estimate of ... (more...)
NAB boss says his attitude 'polar opposite' to Hayne's description NAB boss says his attitude 'polar opposite' to Hayne's description
- February 07, 2019

So with that strong market reply from investors yesterday it's no wonder that CEO Andrew Thorburn and Chairman Ken Henry yesterday rejected criticism of them and their attitudes in the appearances at the royal commission from Commissioner, Ken Jayne in his final report. (more...)
U.S. oil prices dip on rising crude inventories, record output U.S. oil prices dip on rising crude inventories, record output
- February 07, 2019

International Brent crude futures were up 33 cents, or 0.53 percent, at $62.84 a barrel, down from a high of $63.63. “With that in mind, keep an eye on [American Petroleum Institute supply] data later [Tuesday], followed by tomorrow's more definitive [Energy Information Administration] print, where a mixed consensus of expectations leaves room for stronger than anticipated draw to crude stocks to bring in some mid-week price support, ” he said . (more...)
OPEC's oil exports to United States fell to five-year low in January OPEC's oil exports to United States fell to five-year low in January
- February 07, 2019

Weighing on oil markets, USA government data showed new orders for US -made goods unexpectedly fell in November, with sharp declines in demand for machinery and electrical equipment. Morse predicted that moving forward "We have plenty of potentially bullish moves in the market" following a period of soft demand before the seasonal fuel consumption rise begins around May, with Brent rising into the mid-$60 range and hitting $70 before year end - which the researcher believes will ... (more...)
Despite selling 7.3 million copies, Battlefield 5 did not meet EA's expectations Despite selling 7.3 million copies, Battlefield 5 did not meet EA's expectations
- February 06, 2019

While Battlefield V sold 7.3M copies, it was almost a million units short of projections largely due to the month-long delay of its release. The desire to make changes to Battlefield V led us to move its launch into a more hard window, and prioritizing the single-player campaign over Battle Royale also hurt sales. (more...)
China tariff hike will trigger downturn, says UN China tariff hike will trigger downturn, says UN
- February 06, 2019

The sources said that the USA delegation would begin arriving in Beijing over the weekend, following a Chinese New Year break this week. In the speech, Mr Trump signalled that the U.S. "I blame our leaders and representatives for allowing this travesty to happen", he said. If the tariff increase does, in fact, take place; it's not entirely clear how China will respond, but so far it's matched the U.S.'s tariffs tit for tat. (more...)
The State of the Union, in pictures The State of the Union, in pictures
- February 06, 2019

He said the USA has "the hottest economy anywhere in the world". President Trump and Kim's first summit garnered only a vaguely worded commitment by the North to denuclearize. The increase is due to population growth - and not something President Trump can credit to any of his policies. "Great nations do not fight endless wars", Trump will say - comments that could upset many in Congress. (more...)
United Kingdom and other European countries recognise Guaidó as Venezuela's leader United Kingdom and other European countries recognise Guaidó as Venezuela's leader
- February 06, 2019

On Monday, February 4, British Foreign Secretary Jeremy Hunt tweeted that because Maduro had failed to call for new presidential elections, Britain would no longer recognize him as the legitimate president of Venezuela and instead recognize Juan Guaido as interim president. (more...)
4,000 General Motors workers to be laid off starting Monday 4,000 General Motors workers to be laid off starting Monday
- February 05, 2019

General Motors confirms it has begun cutting 4,000 salaried jobs. In his rebuke of GM, Trump focused on the closures in OH, a state he won in the 2016 election. More than 6,200 jobs are at stake. That's in line with what company sources told Automotive News , which first reported the timing, last week. Canada spokeswoman Jennifer Wright says the salaried-employee reductions in Canada have mostly been accomplished already through voluntary incentivized packages. (more...)
Ryanair Reorganizes Exec Team as It Falls to Loss Ryanair Reorganizes Exec Team as It Falls to Loss
- February 05, 2019

The low-priced carrier also said that chairman David Bonderman, who has been in the role since 1996, will be replaced by Stan McCarthy in summer 2020 and that Kyran McLaughin, senior independent director, had agreed to step down. Ryanair maintained its full-year profit guidance of between 1 billion euros to 1.1 billion euros. "We've seen commentary from some low cost competitors with very few bookings in place for summer 2019 promising enormous fare growth". (more...)
Northern Irish kingmakers demand 'toxic' Brexit backstop be replaced Northern Irish kingmakers demand 'toxic' Brexit backstop be replaced
- February 05, 2019

Talks involving Conservatives including Brexiteers Iain Duncan Smith, Theresa Villiers, Steve Baker and Owen Paterson - along with former Remainers Nicky Morgan and Damian Green - will continue in Whitehall, chaired by Brexit Secretary Stephen Barclay. (more...)
Tesla to buy energy tech company Maxwell Technologies for about $218 million Tesla to buy energy tech company Maxwell Technologies for about $218 million
- February 05, 2019

Improving battery performance has been the holy grail for EV makers, and with so many companies now vying for attention, the race is on to make sure drivers don't need to charge their cars as often. Tesla already can get their cars quickly off the line, but an even quicker burst of power could push even greater limits. In 2011, he made a prediction that the next breakthrough in energy storage for EVs would come from supercapacitors rather than batteries. (more...)
Despite beating analysts Wall Street not impressed by Google Despite beating analysts Wall Street not impressed by Google
- February 05, 2019

For the period ending December 31st, Google recorded $6.8 billion in capital expenditures driven by spending on offices, data centers and servers, said Ruth Porat, Google's chief financial officer, on a conference call discussing Alphabet's quarterly earnings Monday. (more...)
Panicked investors can't get their US$190m after crypto exchange CEO dies Panicked investors can't get their US$190m after crypto exchange CEO dies
- February 05, 2019

Unfortunately, these efforts have not been successful'. Canadian crypto exchange QuadrigaCX owes its customers about $190 (249 million Canadian dollars). The company says that it has "very significant cryptocurrency reserves" - but that it can't locate or secure those reserves. "I do not have any documents or records" for the business, Robertson added, saying that she had searched the couple's home in Fall River, Nova Scotia, and other locations but had found nothing. (more...)
Google Says This Is The Most Searched Super Bowl Food In Maryland Google Says This Is The Most Searched Super Bowl Food In Maryland
- February 04, 2019

You really can't beat the food in Texas, and on Super Bowl Sunday , tables all across the state will be packed with mouth-watering snacks. The largest pizza deal option called the Fan Feast includes five large one-topping pizzas with three bread sides and three desserts for $70. (more...)
Elon Musk shares first test firing of SpaceX's Raptor flight engine Elon Musk shares first test firing of SpaceX's Raptor flight engine
- February 04, 2019

Musk's ultimate goal is to use the Starship / Super Heavy system - previously known as the Mars Colonial Transporter, the Interplanetary Transport System, the Big "Falcon" Rocket or the BFR - to send settlers to Mars . He also said on Friday that the Raptor would be further optimized for operations in vacuum and at sea level. Once testing in McGregor is complete, the Raptor will be shipped to the South Texas site to be installed on the Starship hopper test article there, with two other ... (more...)
British Prime Minister Will Travel to Brussels With 'Fresh Mandate' British Prime Minister Will Travel to Brussels With 'Fresh Mandate'
- February 04, 2019

And while Mrs May has insisted she will be "battling for Britain" when she returns to the negotiating table with European Union leaders, Mr Coveney said the door was closed. Foreign Secretary Jeremy Hunt conceded on Thursday that "extra time" might be needed to get "critical legislation" related to Brexit through Parliament. (more...)
Uber plays hero to Lyft's villain in NYC driver wage dispute Uber plays hero to Lyft's villain in NYC driver wage dispute
- February 04, 2019

Ride-hailing drivers in New York City are set to get a legally-guaranteed minimum wage on Friday , but new lawsuits filed Wednesday from two Uber competitors could put a wrinkle in their raise. The city Law Department has vowed to fight Lyft and Juno in court. When that time period is up, companies can petition to use their own utilization rates if they are higher than 58%. (more...)
Super Bowl Set for Sunday Super Bowl Set for Sunday
- February 03, 2019

One player telling me, 'If we show them some of the looks we've seen so far to some of these other quarterbacks, something [Goff] hasn't seen before, we believe he'll [expletive] in his trousers. They'll rely on quarterback Jared Goff and coach Sean McVay , the youngest Super Bowl head coach at 33. The Patriots wore the jerseys the last two Super Bowl appearances, beating the Falcons in 2017, while losing to the Eagles last season. (more...)
Foxconn Damage Control: Promises to Stick by Factory Plans in Wisconsin Foxconn Damage Control: Promises to Stick by Factory Plans in Wisconsin
- February 03, 2019

However, the company released a statement on January 30 confirming various media reports that its plan was being adjusted to focus mainly on research and development. A Gen 6 plant is expected to be smaller and less costly than a Gen 10 plant, but the company has not released any details. President Donald Trump (C), Wisconsin Gov. (more...)

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