Business


Infiniti looks to an all-electric future with stunning Prototype 10 Infiniti looks to an all-electric future with stunning Prototype 10
- August 26, 2018

No, this isn't exactly the shape of Infiniti's new lineup - which is a shame, because the Prototype 10 is gorgeous. The Prototype 10 continues the single-seater concept. Infiniti is revealing a new single-seat electric speedster vehicle this afternoon at the 2018 Pebble Beach Concours d'Elegance in Monterey, California. (more...)
Oil rises above $74 on report of USA inventory drop, Iran sanctions Oil rises above $74 on report of USA inventory drop, Iran sanctions
- August 26, 2018

The $167 billion generated in 2017 corresponds to almost one-third of the total oil revenue. Crude oil futures drifted downwards in European morning trading Thursday, giving back some of the previous day's gains after a larger-than-expected crude stockdraw in the U.S. (more...)
Trump Organization CFO Allen Weisselberg granted immunity to testify Trump Organization CFO Allen Weisselberg granted immunity to testify
- August 26, 2018

He said during his plea that his actions were directed by President Trump . Weisselberg has been a Trump confidant who started working for his family in the early 1970s. Cohen pleaded guilty on Tuesday in a Manhattan courtroom to multiple criminal offenses, including campaign finance violations. In a separate development, the NY attorney general is moving to open a state criminal tax investigation into Cohen. (more...)
Trump Organization executive Allen Weisselberg receives immunity deal Trump Organization executive Allen Weisselberg receives immunity deal
- August 26, 2018

But then came revelations that his longtime friend, David Pecker , the CEO of National Enquirer publisher American Media Inc., had been granted immunity from prosecution to provide information, followed by news that Trump Organization finance chief Allen Weisselberg , who had once worked for Trump's father, was cooperating as well. (more...)
Kalashnikov Debuts CV-1 Electric Vehicle Concept Kalashnikov Debuts CV-1 Electric Vehicle Concept
- August 26, 2018

The vehicle is only in prototype stages, and pricing or availability details have not been discussed. A blue prototype of CV-1 electric auto manufactured by Kalashnikov, Russian producer of a wide variety of precision weapons, is exhibited at an event on August 24. (more...)
Aramco listing plan halted, oil giant disbands advisors Aramco listing plan halted, oil giant disbands advisors
- August 25, 2018

The news agency quoted a source suggesting the decision was taken some time ago but was not being announced. Despite the numerous roadblocks, the powers that be in Saudi Arabia and in Saudi Aramco have repeatedly and steadfastly insisted that the IPO was still on track, if not delayed. (more...)
Extraction Oil & Gas (NASDAQ:XOG) Downgraded by ValuEngine to Sell
- August 25, 2018

The energy company reported ($0.32) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.03 by ($0.35). The company's market cap is $904.09 Million, and the average volume is 4.84 Million. While 20-Day Moving Average VS Current Price shows "Sell" Signal. In general, traders ca boost the responsiveness of a moving average by decreasing the period and smooth out movements by increasing the period. (more...)
Michael Cohen Sets Up GoFundMe To Help Pay Legal Fees Michael Cohen Sets Up GoFundMe To Help Pay Legal Fees
- August 25, 2018

Cohen is just the latest addition to the long line of embattled former Trump aides or advisers caught up in special counsel Robert Mueller's investigation who have turned to online crowdfunding to help pay for snowballing legal fees, including former Trump campaign aides Roger Stone, Michael Caputo and George Papadopoulos . (more...)
NORC Poll: Low marks for Trump, except on the economy
- August 25, 2018

Mr Trump has rarely spoken about the prospect of being impeached. Traders say the market right now expects Trump to avoid impeachment unless the special counsel investigation can tie the president directly to collusion with Russian Federation to sway the 2016 election . (more...)
S&P 500 Tiptoes to New Bull Market Record-Sort Of S&P 500 Tiptoes to New Bull Market Record-Sort Of
- August 25, 2018

The S&P 500 industrial index rose 0.8%. You can argue it either way, but the bottom line is probably no one back in March 2009 thought we'd even be having this argument", Ryan Detrick, senior market strategist at LPL Financial, said in a note . (more...)
Fed Chair Powell: Further Rate Hikes Best Way to Protect Recovery
- August 25, 2018

Inflation is near our 2% objective, and most people who want a job are finding one ... Powell made no mention of Trump's criticism of the Fed's monetary policy. Trump might complain about rate hikes, but minutes released Wednesday of USA central bankers' policy deliberations at their last meeting showed they were on track to move in September. (more...)
Mexico, U.S. 'close' to resolving bilateral NAFTA issues Mexico, U.S. 'close' to resolving bilateral NAFTA issues
- August 25, 2018

How quickly Canada returns to the table depends on the progress made in Wednesday's talks, he said. "We're hearing optimism from them about the work they're getting done on the bilateral U.S. However, on the possibility of a handshake deal, Guajardo said it would have to involve all three countries. Some observers believe the Trump administration has sidelined Ottawa from the NAFTA negotiations. (more...)
Credit Suisse froze assets of Russians worth $ 5 billion Credit Suisse froze assets of Russians worth $ 5 billion
- August 25, 2018

The bank froze the funds in the second quarter of 2018, according to Reuters , in response to sanctions introduced by Washington in April. " Credit Suisse is everywhere has partnered with global regulators in order to enforce the sanctions, including those concerning Russian Federation", - reports comment Bank, Reuters , reports UNN. (more...)
Fed chairman defends steady interest rate hikes
- August 25, 2018

In this case, the EUR/USD will likely find acceptance above the 50-day MA, now located at 1.1608.The German second-quarter GDP, due for release at 06:00 GMT, and the US durable goods orders figure, scheduled for release at 12:30 GMT, may not have a big impact on the pair as investors are likely to stay on the sidelines ahead of Powell's speech. (more...)
U.S. Stocks Drift as Trade Talks Begin
- August 24, 2018

That led to huge gains in companies' earnings, with firms listed in the S&P 500 reporting a near 25 percent jump in second-quarter profits per share in 2018 year on year. 'The bottom line is that the USA is doing well - and much better than any other market, ' said Howard Silverblatt, senior index analyst at the S&P Dow Jones said, according to BBC . (more...)
Sears to close in College Station Sears to close in College Station
- August 24, 2018

Going-out-of-business sales will begin as soon as August 30. The closures are expected to be complete by November. The Sears location at University Square Mall is among the latest stores that will be closed. As of May, Sears was operating around 900 stores, according to CNBC. The company declined to say how long that lease would be at the time, however it did note it should have no impact on its operations. (more...)
Stormy Daniels, Michael Avenatti take victory lap over Cohen plea Stormy Daniels, Michael Avenatti take victory lap over Cohen plea
- August 24, 2018

He said he did so "for the principal objective of influencing the election", as the two women claimed to have had affairs with Trump . Earlier this week, Cohen said he had paid sums of $130,000 and $150,000 each to two women who claimed they had affairs with Trump, acting at his boss' request, in a bid to buy their silence "with the goal of influencing the election". (more...)
Can Trump bend the Fed to his will? Can Trump bend the Fed to his will?
- August 23, 2018

Trump earlier this week said he is "not thrilled " by the rate hikes that Fed Chairman Jerome Powell has overseen since Trump put him in the job in February. comments on the yuan, and said the two sides should communicate on the issue. While economic theory (in the simplest terms) says that rate hikes slow the pace of economic growth, interest rates today remain historically low, and measures of credit growth show that access to loans is still generally easy. (more...)
United Kingdom sets out strategy to become United Kingdom sets out strategy to become "exporting superpower"
- August 23, 2018

In a speech, Fox said Britain had the opportunity to be a "21st century exporting superpower " to capitalise on trust in goods and services from the UK. The minister, a key member of prime minister Theresa May's Brexit team, said: "As we leave the European Union we must set our sights high and that is just what this Export Strategy will help us achieve". (more...)
China hits back at USA in latest round of trade war China hits back at USA in latest round of trade war
- August 23, 2018

Asian share markets inched cautiously higher on Monday as investors anticipated developments on proposed China-US trade talks. The U.S. president's hard line has rattled Beijing and spurred rare criticism within the highest levels of China's ruling Communist Party over its handling of the trade dispute, sources have said. (more...)
Trade war: US, China slap new tariffs on each other Trade war: US, China slap new tariffs on each other
- August 23, 2018

The U.S. government slapped tariffs of 25 percent on another $16 billion worth of Chinese goods Thursday, which affects almost 300 Chinese products, including chemical products , motorcycles and other automotive parts. Trump's hard line has rattled Beijing and spurred criticism within Chinese policy circles over its handling of the trade war , sources have said. (more...)
Google will reportedly replace borked Pixel 2 XL handsets Google will reportedly replace borked Pixel 2 XL handsets
- August 23, 2018

They also give us a look at a feature of the Pixel 3 XL that has only surfaced once before - it's alleged third front camera. Pixel 3 XL has been widely rumoured to feature the same 12.2megapixel camera present in the current Pixel 2 . (more...)
Orchard Supply Hardware To Close All Locations Orchard Supply Hardware To Close All Locations
- August 23, 2018

Ellison said in the earnings release that the chain's workers will be given "priority status" if they apply for other jobs at Lowe's and will also receive job placement assistance and severance. "We want you to know that our customers will see no changes in their Orchard shopping experience as part of this transition - there will still be an Orchard sign in front of all of our locations, and our teams will still dress in green", Orchard's president and CEO, Mark Baker, wrote on the company's ... (more...)
Australian government moves to adjourn parliament Australian government moves to adjourn parliament
- August 23, 2018

The opposition Labor party has accused the government of being in "chaos". So far 13 ministers have resigned, stepping up pressure on the prime minister to quit. "This is a very, very significant point", Mr Turnbull said, having battled through the MP citizenship saga. Such a pending court case could scare lawmakers away from supporting Dutton in a leadership ballot. (more...)
South Africa launches probe into corruption under Zuma South Africa launches probe into corruption under Zuma
- August 23, 2018

Former South African President Jacob Zuma dances after his court appearance in Pietermaritzburg, South Africa, July 27, 2018. Billions of dollars of state funds were allegedly stolen using corrupt practices. The hearings are expected to take up to two years. "If this commission is to do its job properly, we need evidence", he said. The inquiry will in part establish whether official appointments were "disclosed to the Gupta family or any other unauthorised person before such ... (more...)
China defies US pressure as Total parts ways with Iranian oil China defies US pressure as Total parts ways with Iranian oil
- August 23, 2018

The announcement last week that the two countries are returning to the negotiation table spurred optimism a full-blown trade war could be averted. Traders said the main drags on prices were the worsening economic outlook due to trade tensions between the US and China , and weakening currencies in emerging economies that are weighing on growth and fuel consumption. (more...)
Russian Federation in gold buying spree ahead of tougher U.S. sanctions Russian Federation in gold buying spree ahead of tougher U.S. sanctions
- August 23, 2018

At the time of the sanctions in June, Mr Mnuchin said the United States was "engaged in an ongoing effort to counter malicious actors working at the behest of the Russian Federation and its military and intelligence units to increase Russia's offensive cyber capabilities". (more...)
ConocoPhillips settles with Venezuela's PDVSA to recover $2 bln ConocoPhillips settles with Venezuela's PDVSA to recover $2 bln
- August 22, 2018

Monday's statement from Houston-based Conoco says that PDVSA has agreed to recognize the judgement by an worldwide arbitration panel and will make the first $500 million payment within 90 days and the rest over a period of some four years. (more...)
Oil prices slip amid fears over global economic growth Oil prices slip amid fears over global economic growth
- August 22, 2018

West Texas Intermediate crude for September delivery CLU8, +0.46% on the New York Mercantile Exchange was up 39 cents, or 0.6%, at $65.85 a barrel. Brent is heading for a 2 per cent decline this week, a third consecutive weekly drop. "China trade war", Satoru Yoshida, a commodity analyst at Rakuten Securities Inc.in Tokyo, said by phone. Higher fuel prices contributed to rises in producer output prices (up 0.9 percent) and input prices (up 1.0 percent) in the June 2018 quarter, Stats NZ ... (more...)
S&P 500 touches record high, equals longest-ever bull run S&P 500 touches record high, equals longest-ever bull run
- August 22, 2018

Wall Street stocks rose in early trading Tuesday, with the S&P 500 pushing near a record, as the United States signaled it could delay a closely-watched decision to impose new tariffs on autos. Shares of its industry peers PulteGroup PHM.N , Lennar LEN.N and D.R. Horton DHI.N also rose between 3.8 percent and 5.5 percent. Seoul's Kospi rose 0.4 per cent, buoyed by tech firms as data showed robust chip exports, and Taiwan shares were 0.2 per cent higher. (more...)

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