Business

Federal Reserve policymakers in favour of ‘restrictive’ policy

Federal Reserve policymakers in favour of ‘restrictive’ policy Here are five fixed-income ETFs investors should consider as the Fed institutes more short-term rate hikes. The resulting necessary correction is therefore much more needed and will be much more severe. Quarles's comments on the economic outlook are rare; as the vice chairman of supervision, Quarles's primary job at the central bank concerns supervision. [Full Article...]

Tesla's Model 3 just got a bit more affordable

Tesla's Model 3 just got a bit more affordable Musk late Thursday announced Tesla's lowest-cost version yet of its newest auto, with the CEO writing in a tweet that the mid-range Model 3 "costs $35k after federal & state tax rebates in California", but pegging its ultimate ownership cost at an even lower price point given the money saved not buying gas. [Full Article...]

Mega Millions jackpot nears $1 billion ahead of Friday drawing

Mega Millions jackpot nears $1 billion ahead of Friday drawing The draw, which rose from $US667 million on Tuesday when no one had the lucky six numbers, will take place on Friday. The prize is the second-largest jackpot in US history, behind only a $1.6 billion Powerball prize won in 2016. But when it gets close to $1 billion, even he can't resist, knowing he just bought the winning ticket. However, its second-biggest one of all time for $656 million hap... [Full Article...]

Saudi mulling over admission that journalist was killed in botched abduction

Saudi mulling over admission that journalist was killed in botched abduction On Monday afternoon, CNN drew a similar picture of the Saudis' impending response, reporting that Riyadh would "acknowledge Jamal Khashoggi's death was the result of an interrogation that went wrong, one that was meant to lead to his abduction from Turkey". [Full Article...]

Sears files for bankruptcy

Sears files for bankruptcy The company gets about 10 percent of its revenue through sales of its products at Sears. "I don't understand the point of Sears, I just buy everything online", said 23-year-old Lyft driver Shannon Dickey as we pull up to the abandoned storefront of Sears that sits at the top of Ross Park Mall, nine miles north of downtown Pittsburgh "I think their old catalogs are cool, but I just don't understa... [Full Article...]

Shareholders must vote on Musk's return as Tesla chairman

Shareholders must vote on Musk's return as Tesla chairman The SEC accused Musk of committing securities fraud due to an August 7 tweet in which he declared he had secured to finance taking the company private at $420 per share, a huge premium over the stock price at the time. Hedge funds and other institutional investors own 62.03% of the company's stock. On Wednesday, it was revealed that T. Rowe Price Group Inc., which owned 11.93 million TSLA ... [Full Article...]

Facebook Hack Compromised 30 Million People, Exposing Phone Numbers, Emails

Facebook Hack Compromised 30 Million People, Exposing Phone Numbers, Emails Hackers stole neither personal messages nor financial data and did not use their access to accounts users' accounts on other websites , the company said. As you can see, my account was not accessed. The hack involved a feature known as "View As", which enables users to see what their Facebook profile looks like when other users look at it. [Full Article...]

Trump steps up his attacks on Federal Reserve's rate hikes

Trump steps up his attacks on Federal Reserve's rate hikes US stocks took their worst loss in eight months Wednesday, with the Dow Jones Industrial Average sinking 831 points and the Nasdaq composite logging its biggest loss in more than two years. "I'm just disappointed at the clip" that rates are being raised. There are millions of working families with credit card debt and raising interest rates is not going to help any of these people. [Full Article...]

Turkish court frees United States pastor Andrew Brunson

Turkish court frees United States pastor Andrew Brunson The source cautioned that United States officials are counting on Turkish officials to follow through on their end of the agreement, which appears to now be in place with Brunson due to appear before a Turkish court on Friday . But analysts warned that Brunson's release alone would not resolve the troubles between Turkey and the United States. Brunson was arrested and detained for 18 months... [Full Article...]

DUP step up warning to May not to compromise on border

DUP step up warning to May not to compromise on border She added: "The Prime Minister is a Unionist". British Prime Minister Theresa May briefed her inner cabinet on Thursday evening that a historic Brexit deal was close, the Financial Times reported Thursday. Citing figures to make its case, the report noted that the EU (together with the European Free Trade Association) accounted for 43% of Britain's services exports in 2016, worth around than... [Full Article...]

China trade surplus with USA widens to record $34.1 billion

China trade surplus with USA widens to record $34.1 billion September marked the second straight record Chinese monthly trade surplus with the United States . Customs data on Friday showed growth in Chinese imports of USA goods decelerated to 9 percent over a year earlier. The Chinese yuan has lost almost 10 percent of its value against the USA dollar this year. Chinese refiners are buying more and more very cheap heavy Canadian crude oil to make up... [Full Article...]

'Deeply concerned': Australia responds to missing Saudi Arabia critic

'Deeply concerned': Australia responds to missing Saudi Arabia critic On his first worldwide trip as president, Trump visited Saudi Arabia and announced $110 billion in proposed arms sales. Corker spoke with reporters after the letter was released, and he emphasized that senators "specifically said it included the highest members of the regime" and could "absolutely" lead to us sanctions targeting the Saudi Crown Prince , Mohammad bin Salman Al Saud. [Full Article...]

International Monetary Fund raises Japan growth forecast, cuts global estimate due to trade tension

International Monetary Fund raises Japan growth forecast, cuts global estimate due to trade tension The half-yearly Global Financial Stability Report released on Wednesday finds a 5 per cent probability that these emerging economies could see debt outflows of US$100 billion or more, representing 0.6 per cent of their combined GDP, over a period of four quarters. [Full Article...]

Unemployment rate falls to 3.7 percent, lowest mark since 1969

Unemployment rate falls to 3.7 percent, lowest mark since 1969 The Labor Department said claims for South and North Carolina were affected by Hurricane Florence , which lashed the region in mid-September. A category that includes restaurants, hotels and casinos lost jobs for the first time since last September, when Hurricane Harvey exerted a similar effect. [Full Article...]

Apple And Amazon Call Bull On Chinese Spy Microchip Report

Apple And Amazon Call Bull On Chinese Spy Microchip Report Unnamed government sources told Bloomberg the source of the attack was the People's Liberation Army and the Chinese government. We stand by our story and are confident in our reporting and sources. Bloomberg reported that AWS uncovered the malicious chips in 2015 when examining servers manufactured by a company known as Elemental Technologies, which AWS eventually acquired. [Full Article...]

States reduce their Value-Added Tax rates on fuel

States reduce their Value-Added Tax rates on fuel The state governments in nearly all BJP-ruled states including Maharashtra, Gujarat, Madhya Pradesh , Chhattisgarh, Jharkhand, Assam, Haryana, Himachal Pradesh, Uttar Pradesh , and Tripura today reduced the prices of petrol and diesel by Rs 2.5 soon after the Finance Minister Arun Jaitley announced a similar cut in fuel prices. [Full Article...]

Japanese Nikkei hits 27-year high as markets cheer Nafta deal

Japanese Nikkei hits 27-year high as markets cheer Nafta deal The Trump administration set a September 30 deadline for Canada to join the agreement, or tariffs would be placed on vehicles exported to the U.S. The agreement "will give our workers, farmers, ranchers and businesses a high-standard trade agreement that will result in freer markets, fairer trade and robust economic growth in our region". [Full Article...]

Amazon's Orlando workers among those set for $15 minimum wage announced today

Amazon's Orlando workers among those set for $15 minimum wage announced today The Seattle-based company said the move , which goes into effect November 1, is aimed at boosting its minimum wage at least 30 percent higher than the national average. Those increases apply to 17,000 Amazon employees and 20,000 seasonal workers. " Jeff Bezos has become much more wealthy over the past decade, but his workers haven't", she said. [Full Article...]

Tesla Model 3 Deliveries Surge in Move Past Musk's Controversies

Tesla Model 3 Deliveries Surge in Move Past Musk's Controversies Tesla said it was speeding up construction of its Shanghai giga factory to combat a huge competitive disadvantage against other producers and even other imported cars, which carry a lower 15 percent tariff. Analysts are expecting Tesla to report a third-quarter loss of about $200 million, according to FactSet. Overall, 55,480 of these were Model 3s compared to 14,470 Model Ss and 13,190 Model ... [Full Article...]

Trump set to sell new Mexico-Canada trade agreement

Trump set to sell new Mexico-Canada trade agreement U.S. president Donald Trumps says the agreement was "truly historic". "It'll probably or possibly be just USM". Despite progress made to overhaul NAFTA, Trump still faces several other trade disputes around the world, not least with China , where the president has slapped a tariff on $200bn on Chinese imports. [Full Article...]


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