Money


Oil falls again as USA supplies grow, Asia virus menaces demand Oil falls again as USA supplies grow, Asia virus menaces demand
- January 31, 2020

Brent was down 24 cents, or 0.4%, to $59.57 a barrel by 0152 GMT, having risen 0.5% on Wednesday. Countries have started isolating hundreds of citizens evacuated from the Chinese city of Wuhan on Thursday to stop the spread of an epidemic that has killed 170 people as worry about the impact on the world's second-biggest economy rattled markets. (more...)
Amazon Reports Q4 2019 Earnings, Beats Expectations Amazon Reports Q4 2019 Earnings, Beats Expectations
- January 31, 2020

If the share gain holds on Friday, it will be the biggest daily jump for Amazon since October 2017. Amazon lets customers in China buy foreign goods through its global store; businesses in China can sell overseas via Amazon and use Amazon's cloud computing technology as well. (more...)
PageTitleUS economy misses Trump's 3 per cent growth target in 2019 PageTitleUS economy misses Trump's 3 per cent growth target in 2019
- January 30, 2020

At the time, 2017 GDP growth hit 3.2 percent in the third quarter and rose to 3.5 percent in the fourth quarter. Economists believe that the lower trade deficit in the fourth quarter likely contributed 1.9 percentage points to GDP growth. (more...)
What’s new in the China virus outbreak What’s new in the China virus outbreak
- January 30, 2020

The World Health Organisation on Wednesday warned all governments to "take action" over the deadly SARS-like virus. That human-to-human transmission outside of China "worries us", Tedros Adhanom Ghebreyesus, director general at World Health Organization , said during a Wednesday news conference. (more...)
The Fed Continues to Hold Steady on Rates The Fed Continues to Hold Steady on Rates
- January 30, 2020

Fed officials say maintaining the interest rate would help to bring inflation closer to the Fed's two percent target, . after it fell short of that goal past year. Policy makers also endured another attack from President Donald Trump, facing reelection in November, who reiterated in a tweet Tuesday his latest call for the Fed to cut rates. (more...)
Martin Shkreli Faces New Charges and Lifetime Ban from Pharma Industry Martin Shkreli Faces New Charges and Lifetime Ban from Pharma Industry
- January 30, 2020

New York Attorney General Letitia James announced a lawsuit filed against 2 former chief executive officers (CEOs) of Turing Pharmaceuticals, now known as Vyera Pharmaceuticals: " Pharma Bro " Martin Shkreli, currently serving a 7-year sentence in federal prison for securities fraud, a crime that took place before the launch of Vyera, and his business partner Kevin Mulleady. (more...)
WHO lauds Chinese response to virus, says world 'at important juncture' WHO lauds Chinese response to virus, says world 'at important juncture'
- January 30, 2020

Ryan estimated the death rate of the new virus at 2%, but said the figure was very preliminary. China has shut down transportation from some of the affected areas, essentially quarantining millions of people - but experts have said those actions might not be enough to stop the spread of the virus. (more...)
Tesla delivers strong earnings, says Model Y SUV is on the way
- January 30, 2020

Production of the Model Y compact SUV has begun "ahead of schedule" at Tesla's Fremont, Calif. factory, and will begin next year at the company's new Shanghai Gigafactory, according to Tesla's financial documents. "This is an evolving story". Tesla shares have more than tripled in value since May of previous year, pushing the company's market value above giant German automaker Volkswagen as well as the combined values of General Motors and Ford . (more...)
We won’t suspend flights to China, says Kenya Airways
- January 30, 2020

Other airlines, such as US-owned United Airlines , said it would reduce flights to China following "a significant decline in demand for travel". The two preliminarily confirmed cases involve a 73-year-old female and a 72-year-old male who reside in Wuhan, capital of Hubei Province. (more...)
Don't compare us with other countries, govt says of Wuhan evacuation Don't compare us with other countries, govt says of Wuhan evacuation
- January 29, 2020

A flight with about 210 Americans aboard will land at a military base in Southern California on Wednesday after leaving the epicenter of the coronavirus outbreak in China . First discovered in the city of Wuhan, China , earlier in January, the new strain of the pneumonia-like virus is believed to have originated in the city's animal market. (more...)
Boeing swings to annual loss as 737 MAX costs double Boeing swings to annual loss as 737 MAX costs double
- January 29, 2020

The aviation giant said that the financial results were " significantly impacted by the 737 MAX grounding ". Some analysts had expected new costs twice as high, and despite the hefty charges, Boeing shares rallied in early trade on Wall Street. (more...)
Lee Enterprises Buys Buffett's Newspapers - Wed., Jan. 29, 2020 Lee Enterprises Buys Buffett's Newspapers - Wed., Jan. 29, 2020
- January 29, 2020

The proceeds from Berkshire's financing will be used to pay for the acquisition and refinance Lee's approximately $400 million of existing debt. The Virginia papers included in the sale are the Richmond Times-Dispatch, The Roanoke Times , The Daily Progress in Charlottesville, The Free Lance-Star in Fredericksburg, Bristol Herald Courier, The News & Advance in Lynchburg, Danville Register & Bee, Martinsville Bulletin, Culpeper Star-Exponent and The News Virginian in Waynesboro. (more...)
No hot meals, blankets, magazines as airlines step up fight on virus No hot meals, blankets, magazines as airlines step up fight on virus
- January 29, 2020

The virus, which has killed 132 people and affected at least 6,000 others in China, is a novel strain not seen before. United Airlines said it was suspending some flights between the United States and China for a week from February 1 due to a "significant decline in demand". (more...)
Wuhan virus: Russian airline suspends flights to Europe over coronavirus
- January 29, 2020

United States Treasury yields remained higher and safe-haven currencies held steady in a sign of some calm in financial markets, but the focus remained squarely on the virus and how investors would reprice riskier assets. The virus has an incubation period of up to 14 days. In Germany, auto supplier Webasto, which has 11 sites in China, including in Wuhan, has halted all corporate travel to and from China after an employee was infected. (more...)
Apple sees record revenue after holiday season Apple sees record revenue after holiday season
- January 29, 2020

Cook said that the iPhone 11 and iPhone 11 Pro models drove the growth and also factored into the company's forecast, calling the devices "the strongest iPhone lineup we've ever had". This includes Apple's existing services like Apple Music, along with those services that launched past year, including Apple Arcade and Apple TV +. The Service divisions houses the newly launched Apple TV + along with Apple News+, the Apple Card, the App Store, Apple Music and iCloud. (more...)
Uber considers court action against City of Surrey Uber considers court action against City of Surrey
- January 29, 2020

Brenda Locke, who left McCallum's Safe Surrey Coalition past year and has since formed Surrey Connect, said it's unfortunate that fines are being issued. The provincial government has also previously said municipal authorities do not actually have any jurisdiction on where and how ride-hailing companies can operate, as this is exclusively regulated at the provincial level by the Passenger Transportation Board (PTB). (more...)
GM's First-Ever EV-Only Factory Will Produce Electric Pickup In 2021 GM's First-Ever EV-Only Factory Will Produce Electric Pickup In 2021
- January 28, 2020

Vice President of the labor union, United Automobile Workers ( UAW ) Terry Dittes commented on the announcement, saying according to the Detroit Free Press that the news are, "a testament to the perseverance of our UAW members and UAW Region 1 under the direction of Frank Stuglin". (more...)
Boeing pins high hopes on 777X after successful first test flight Boeing pins high hopes on 777X after successful first test flight
- January 28, 2020

Boeing's new 777x jetliner - the world's largest twin-engined plane - took off Saturday for it's very first flight. It is created to carry 425 passengers and is 252-foot long. Just minutes earlier, the pilots deployed the plane's winglets - folding wing tips - created to improve the craft's fuel efficiency and make it possible for the plane, with the widest wing span ever from Boeing , to be accommodated at more airports. (more...)
Air India sale: Government offers 100% stake sale in national carrier Air India sale: Government offers 100% stake sale in national carrier
- January 27, 2020

The qualified bidders will be notified March 31, as per bid document issued by the Department of Investment and Public Asset Management. Even as the Centre issued a preliminary bid document for the disinvestment of Air India on Monday, BJP Rajya Sabha MP Dr. (more...)
Uber and Lyft begin ride-hailing services in Metro Vancouver today Uber and Lyft begin ride-hailing services in Metro Vancouver today
- January 27, 2020

All Uber and Lyft drivers operating in Vancouver will also have to obtain a Class 4 driver's licence , which is the same licence required by taxi drivers. "Dynamic pricing is the mechanism by which the supply of vehicles is adjusted to respond to passenger demand", said the PTB in its Licence Application Decision . (more...)

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