Money
Oil drops on demand concerns as USA shale set for new record
- August 17, 2019
Brent crude was down $2.59, or 4.2%, to $58.71 a barrel, by 11:45 a.m. EDT (1545 GMT), almost erasing the previous session's sharp gains after the United States moved to delay tariffs on some Chinese products. Profit-taking after the previous day's sharp gains also weighed on crude prices yesterday, analysts said. USA oil output from seven major shale formations was expected to rise by 85,000 barrels per day (bpd) in September to a record 8.77 million bpd, the Energy Information ... (more...)
- August 17, 2019
Brent crude was down $2.59, or 4.2%, to $58.71 a barrel, by 11:45 a.m. EDT (1545 GMT), almost erasing the previous session's sharp gains after the United States moved to delay tariffs on some Chinese products. Profit-taking after the previous day's sharp gains also weighed on crude prices yesterday, analysts said. USA oil output from seven major shale formations was expected to rise by 85,000 barrels per day (bpd) in September to a record 8.77 million bpd, the Energy Information ... (more...)
Passenger Vehicle Sales Plunge 31%, Steepest Fall In Nearly 2 Decades
- August 17, 2019
July 2019's sales decline of 18.71 percent is also the highest. These passenger vehicle numbers are the worst since December 2000 when sales were down 35.22 per cent, along with cars which slumped 39.86 per cent. "The job losses have happened largely in the temporary and casual category, the contract labour whereas in the OEM segment, with whatever data we have collected from some companies so far, there is a number of about 15,000 people who have already been laid off", Mathur added. (more...)
- August 17, 2019
July 2019's sales decline of 18.71 percent is also the highest. These passenger vehicle numbers are the worst since December 2000 when sales were down 35.22 per cent, along with cars which slumped 39.86 per cent. "The job losses have happened largely in the temporary and casual category, the contract labour whereas in the OEM segment, with whatever data we have collected from some companies so far, there is a number of about 15,000 people who have already been laid off", Mathur added. (more...)
Cathay Pacific CEO resigns amid HK protest controversy
- August 17, 2019
He was previously an executive with the Swire Group, a Hong Kong conglomerate and Cathay's largest shareholder. The Global Times, another Chinese government-owned media company, said on August 7 that Cathay Pacific ground staff leaked flight information about Hong Kong police officers boarding a plane. (more...)
- August 17, 2019
He was previously an executive with the Swire Group, a Hong Kong conglomerate and Cathay's largest shareholder. The Global Times, another Chinese government-owned media company, said on August 7 that Cathay Pacific ground staff leaked flight information about Hong Kong police officers boarding a plane. (more...)
Dow, Nasdaq plunge as recession fears grow
- August 17, 2019
Worries about a possible recession collided with hopes that the strongest part of the USA economy - shoppers spending at stores and online - can keep going. The 30-year Treasury yield fell to 1.93 percent from 2.02 percent and earlier touched a record low, a sign that investors are concerned about how the economy will do in the future. (more...)
- August 17, 2019
Worries about a possible recession collided with hopes that the strongest part of the USA economy - shoppers spending at stores and online - can keep going. The 30-year Treasury yield fell to 1.93 percent from 2.02 percent and earlier touched a record low, a sign that investors are concerned about how the economy will do in the future. (more...)
FDA proposes warning pictures for cigarette packages
- August 17, 2019
In the end, the federal court determined that the agency's rule violated the first amendment. "As a cancer doctor and researcher, I am well aware of the staggering toll on the public health from cigarettes", said Ned Sharpless, acting FDA commissioner. (more...)
- August 17, 2019
In the end, the federal court determined that the agency's rule violated the first amendment. "As a cancer doctor and researcher, I am well aware of the staggering toll on the public health from cigarettes", said Ned Sharpless, acting FDA commissioner. (more...)
GE has more to lose from whistle-blower
- August 16, 2019
GE dismissed Markopolos's allegations as baseless and defended its accounting. John Hempton, co-founder of the Sydney, Australia-based Bronte Capital hedge fund, wrote in a blog post https://brontecapital.blogspot.com/2019/08/the-flat-out-silly-markopolos-ge-report.html on Thursday that GE's 14.7% average profit margin in recent years was in line with the returns of its industrial peers, not "too good to be true" as Markopolos alleges. (more...)
- August 16, 2019
GE dismissed Markopolos's allegations as baseless and defended its accounting. John Hempton, co-founder of the Sydney, Australia-based Bronte Capital hedge fund, wrote in a blog post https://brontecapital.blogspot.com/2019/08/the-flat-out-silly-markopolos-ge-report.html on Thursday that GE's 14.7% average profit margin in recent years was in line with the returns of its industrial peers, not "too good to be true" as Markopolos alleges. (more...)
Here's What to Buy as Recession Fears Pull Stocks Lower
- August 16, 2019
That was not the only occasion that an inversion in this part of the U.S. bond curve accurately predicted a recession. The US yield curve, measuring bond investors' confidence, officially inverted on Thursday for the first time since 2007, prompting fears that a recession is imminent. (more...)
- August 16, 2019
That was not the only occasion that an inversion in this part of the U.S. bond curve accurately predicted a recession. The US yield curve, measuring bond investors' confidence, officially inverted on Thursday for the first time since 2007, prompting fears that a recession is imminent. (more...)
Chinese Paramilitaries Mass on Hong Kong Border as Pro-Democracy Protests Continue
- August 16, 2019
President Trump meets with Chinese President Xi Jinping at the Group of 20 leaders summit on june 29 in Osaka, Japan. Trump took a more active role Thursday - but in an appeal to Xi, whom he has repeatedly flattered and was careful not to criticize. (more...)
- August 16, 2019
President Trump meets with Chinese President Xi Jinping at the Group of 20 leaders summit on june 29 in Osaka, Japan. Trump took a more active role Thursday - but in an appeal to Xi, whom he has repeatedly flattered and was careful not to criticize. (more...)
Markets register a shock, but is Trump right to blame the Fed?
- August 16, 2019
Most striking was the appearance of the " inverted yield curve , ' which refers to when short-term bonds give greater yields than long-term bonds". In the current case, it signaled a policy shift in January, when it removed the expectation of further rate hikes from the table, and then cut rates two weeks before Wednesday's yield curve inversion . (more...)
- August 16, 2019
Most striking was the appearance of the " inverted yield curve , ' which refers to when short-term bonds give greater yields than long-term bonds". In the current case, it signaled a policy shift in January, when it removed the expectation of further rate hikes from the table, and then cut rates two weeks before Wednesday's yield curve inversion . (more...)
Donald Trump floats idea of buying Greenland for the USA, report says
- August 16, 2019
The notion of purchasing the icy, autonomous Danish territory between the North Atlantic and Arctic oceans has been laughed off by some advisers as a joke but taken more seriously by others, the sources said . "Of course, buying Greenland is a different issue altogether; I'm not sure about that". It has become a focal point of climate studies because the island's glaciers are melting at a record pace. (more...)
- August 16, 2019
The notion of purchasing the icy, autonomous Danish territory between the North Atlantic and Arctic oceans has been laughed off by some advisers as a joke but taken more seriously by others, the sources said . "Of course, buying Greenland is a different issue altogether; I'm not sure about that". It has become a focal point of climate studies because the island's glaciers are melting at a record pace. (more...)
N. Korea fires projectiles, rejects further talks with South
- August 16, 2019
The launches have complicated attempts to restart talks between United States and North Korean negotiators over the future of Pyongyang's nuclear weapons and ballistic missile programmes. Lee Sang-min, a spokesman for South Korea's Unification Ministry that handles inter-Korean ties, urged the North to stop the tests and explore confidence-building measures such as returning to a joint military committee. (more...)
- August 16, 2019
The launches have complicated attempts to restart talks between United States and North Korean negotiators over the future of Pyongyang's nuclear weapons and ballistic missile programmes. Lee Sang-min, a spokesman for South Korea's Unification Ministry that handles inter-Korean ties, urged the North to stop the tests and explore confidence-building measures such as returning to a joint military committee. (more...)
Asian stocks lower after United States indexes tumble on recession fear
- August 16, 2019
Market benchmarks in Shanghai, Tokyo and Hong Kong all retreated. The Dow Jones Industrial Average plunged 800 points to close at 25,478 or nearly three per cent on Wednesday, as recession fears settled in for stock investors. Tech stocks and banks led the broad sell-off. However, a spokeswoman for the ministry later said, "We hope the USA will meet China halfway, and implement the consensus of the two heads of the two countries in Osaka". (more...)
- August 16, 2019
Market benchmarks in Shanghai, Tokyo and Hong Kong all retreated. The Dow Jones Industrial Average plunged 800 points to close at 25,478 or nearly three per cent on Wednesday, as recession fears settled in for stock investors. Tech stocks and banks led the broad sell-off. However, a spokeswoman for the ministry later said, "We hope the USA will meet China halfway, and implement the consensus of the two heads of the two countries in Osaka". (more...)
China: Tariff Delays Aren't Enough
- August 16, 2019
However, the U.S. leader appeared to waffle on Tuesday, saying the administration would postpone penalties on about 60 percent of the goods to avoid hurting United States shoppers ahead of the Christmas holidays. "The yield curves are all crying timber that a recession is nearly a reality, and investors are tripping over themselves to get out of the way". The worst drop of 2019 came on August 14 when the Dow plummeted 800 points. (more...)
- August 16, 2019
However, the U.S. leader appeared to waffle on Tuesday, saying the administration would postpone penalties on about 60 percent of the goods to avoid hurting United States shoppers ahead of the Christmas holidays. "The yield curves are all crying timber that a recession is nearly a reality, and investors are tripping over themselves to get out of the way". The worst drop of 2019 came on August 14 when the Dow plummeted 800 points. (more...)
North Korea fires more projectiles into sea, claims South
- August 16, 2019
In the statement, Pyongyang also denounced South Korea's ongoing joint military exercise with the USA and its mid-term defense plan where Seoul detailed its major defense projects for the 2020-2024 period, claiming that all of them "are aimed at destroying" the North. (more...)
- August 16, 2019
In the statement, Pyongyang also denounced South Korea's ongoing joint military exercise with the USA and its mid-term defense plan where Seoul detailed its major defense projects for the 2020-2024 period, claiming that all of them "are aimed at destroying" the North. (more...)
The Brief: Europe's engine stalling as Germany's economy shrinks
- August 16, 2019
Early signs for the third quarter "look ominous", said Andrew Kenningham, chief Europe economist at Capital Economics . A government spokeswoman said Berlin did not now see "any need for further measures to stabilise the economy ", which was still expected to grow slightly this year. (more...)
- August 16, 2019
Early signs for the third quarter "look ominous", said Andrew Kenningham, chief Europe economist at Capital Economics . A government spokeswoman said Berlin did not now see "any need for further measures to stabilise the economy ", which was still expected to grow slightly this year. (more...)
FAA Bans MacBook Pro Laptops With Recalled Batteries
- August 14, 2019
The FAA's 2016 alert to carriers warned of the risk of the "potential risk of catastrophic hull loss" due to transporting lithium batteries if they caught fire and exploded. It is "unclear what efforts will, if any", will be made at US airports, the network added. But the fact is that it will be a pain to screen the affected units at the boarding gate - and that could affect millions of MacBook Pro users. (more...)
- August 14, 2019
The FAA's 2016 alert to carriers warned of the risk of the "potential risk of catastrophic hull loss" due to transporting lithium batteries if they caught fire and exploded. It is "unclear what efforts will, if any", will be made at US airports, the network added. But the fact is that it will be a pain to screen the affected units at the boarding gate - and that could affect millions of MacBook Pro users. (more...)
Acura Type S concept previews a sporty next-generation TLX
- August 14, 2019
In this case, it's the sort of "Precision Crafted Performance" that visually straddles sedan and coupe, and does so very well indeed. That hasn't been seen on a new Acura since the Acura TL Type S back in 2008, marking a performance variant of the vehicle. (more...)
- August 14, 2019
In this case, it's the sort of "Precision Crafted Performance" that visually straddles sedan and coupe, and does so very well indeed. That hasn't been seen on a new Acura since the Acura TL Type S back in 2008, marking a performance variant of the vehicle. (more...)
Hong Kong International Airport resumes flights after 2 days of mass disruption
- August 14, 2019
Officers with shields pushed back protesters near one of the airport entrances and used pepper spray to break up the crowd. The airport occupation has dramatically raised the stakes in the political confrontation that is now in its 10th week. (more...)
- August 14, 2019
Officers with shields pushed back protesters near one of the airport entrances and used pepper spray to break up the crowd. The airport occupation has dramatically raised the stakes in the political confrontation that is now in its 10th week. (more...)
Hong Kong protests: Flights resume as airport authority restricts protests
- August 14, 2019
It said in a statement that people would be "restrained from attending or participating in any demonstration or protest .in the airport other than in the area designated by the Airport Authority". In a tweet, Hu Xijun, the editor of China's state-controlled Global Times tabloid, which has vociferously condemned the protests, confirmed the man was a journalist working for the paper. (more...)
- August 14, 2019
It said in a statement that people would be "restrained from attending or participating in any demonstration or protest .in the airport other than in the area designated by the Airport Authority". In a tweet, Hu Xijun, the editor of China's state-controlled Global Times tabloid, which has vociferously condemned the protests, confirmed the man was a journalist working for the paper. (more...)
Facebook paid contractors to transcribe users' audio
- August 14, 2019
A report indicates that Facebook was paying third parties to transcribe Messenger audio conversations. The company confirmed that it had been transcribing users' audio, and said it was no longer doing so, Bloomberg reported. That led some of the workers to believe their work was "unethical", especially when some of the conversations included vulgar material. "You're talking about this conspiracy theory that gets passed around that we listen to what's going on on your microphone and ... (more...)
- August 14, 2019
A report indicates that Facebook was paying third parties to transcribe Messenger audio conversations. The company confirmed that it had been transcribing users' audio, and said it was no longer doing so, Bloomberg reported. That led some of the workers to believe their work was "unethical", especially when some of the conversations included vulgar material. "You're talking about this conspiracy theory that gets passed around that we listen to what's going on on your microphone and ... (more...)
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