Business

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...]

Tesla is 'very close' to profitability, Musk says in staff email

Tesla is 'very close' to profitability, Musk says in staff email The US Securities and Exchange Commission said on Saturday that car-maker Tesla and Chief Executive Elon Musk had agreed to pay $20 million each under a settlement that will also see the billionaire step down as chairman after a tumultuous two months for the company. [Full Article...]

Elon Musk's fortune takes a $1.5bn hit after SEC lawsuit

Elon Musk's fortune takes a $1.5bn hit after SEC lawsuit The SEC sued Tesla Thursday afternoon for fraud over a comment Musk made on Twitter on August 7, where the billionaire said he was planning to take the company private and had secured funding for the deal. Cowen analyst Jeffrey Osborne wrote on Friday that he thinks Tesla will need to raise $2 billion in the fourth quarter. In its complaint, the SEC is seeking a court-mandated bar proh... [Full Article...]

Oil price jumps as Opec keeps output steady

Oil price jumps as Opec keeps output steady Brent crude futures were at 79.84 dollars per barrel. Early last week, the market was supported by a report which said Saudi Arabia would be comfortable with Brent prices over $80 a barrel. "The conditions of the market and the production status of oil producers are not as such to allow finding an easy replacement for Iran's oil and remove it from oil markets". [Full Article...]

Oil prices ease as Trump tweets warning at OPEC

Oil prices ease as Trump tweets warning at OPEC USA light crude oil CLc1 was 40 cents higher at $71.52 a barrel, after rising almost 2 percent on Wednesday. Reuters reported two weeks ago that Saudi Arabia wanted oil to stay between $70 and $80 a barrel for now, seeking a balance between maximizing revenue and keeping a lid on prices until USA congressional elections. [Full Article...]

Russian Federation says OPEC, non-OPEC to discuss output scenarios in Algeria

Russian Federation says OPEC, non-OPEC to discuss output scenarios in Algeria US oil futures rose more than $1 a barrel on Wednesday, bolstered by a fifth weekly crude inventory drawdown and strong domestic gasoline demand, amid ongoing supply concerns over USA sanctions on Iran that come into force in November. USA crude inventories likely fell 2.5 million barrels last week, according to a Bloomberg survey of analysts. The rally could stop and prices could turn lower... [Full Article...]

Iran OPEC chief: 'Saudi and Russian Federation are taking oil market hostage'

Iran OPEC chief: 'Saudi and Russian Federation are taking oil market hostage' Rouhani announced last week that Iran was moving its main oil terminal out of the Gulf to a port in the Oman Sea, so that its tankers would no longer need to pass through the strait, giving it more scope to disrupt supplies. Exports fell 280,000 bpd reaching to 1.9 million bpd from a peak of 2.5 million bpd in May. With the prospect of as many as 1-2 million barrels per day (bpd) of Iranian ba... [Full Article...]

Bitcoin Price in Freefall

Bitcoin Price in Freefall Initial reporting about Goldman shelving their cryptocurrency trading desk included allegations how the firm was planning to push ahead on a custodial service . Sources told BI that company executive identified a number of steps that need to be taken before a regulated institution like Goldman would be allowed to trade cryptocurrencies. [Full Article...]

Could 'soon' impose tariffs on $200bn in Chinese goods, says Trump

Mr. Trump claims that China's trade policies are unfair, including the widespread practice of requiring foreign companies operating there to share intellectual property. The administration should cease further tariffs actions and give another shot at talks for a trade deal with China, it said. "People have been saying, 'I'm too tough on Canada, '" he said . [Full Article...]


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