Business


Wall Street dips after Federal Reserve raises rates
- September 27, 2018

While the central bank has indicated some concern about Trump's tariffs, Fed members have been careful to say they haven't seen much sign of the tariffs hurting the broader economy - yet. The location of a neutral rate for policy is the subject of heated debate, with estimates within the committee ranging from 2.5 per cent to 3.5 per cent. (more...)
"Distracted boyfriend" meme ruled sexist by Swedish ad watchdog
- September 27, 2018

The captions read "you", "your current employer" and " Bahnhof ". Users can comment on everything from politics to punctuation just by captioning the three figures in the photo. "It gives the impression that men might change female partners in the same way they change jobs". Another, Sofie Sundåker, said: "It doesn't matter if it's a popular meme". (more...)
Govt Hikes Import Duty on AC, Fridge, Footwear & 17 Other Items Govt Hikes Import Duty on AC, Fridge, Footwear & 17 Other Items
- September 27, 2018

The increase in basic customs duty on import of these items will come into effect from September 27. "These changes aim at narrowing the CAD". NDTV is one of the leaders in the production and broadcasting of un-biased and comprehensive news and entertainment programmes in India and overseas. (more...)
US Fed raises rates for a third time this year
- September 27, 2018

However, the gradual nature of USA rate rises and the transparency of what the Fed is thinking will help most worldwide borrowers plan ahead. Earlier, Powell said during his news conference that such outside criticism would have no effect on the Fed's use of rates to try to maximize employment and stabilize prices. (more...)
Oil prices rise 1 percent ahead of US sanctions against Iran
- September 27, 2018

In May, US President Donald Trump pulled out of an worldwide nuclear deal with Iran and announced new sanctions against the country, the third-largest producer among the Organization of the Petroleum Exporting Countries (OPEC). Commercial crude stocks C-STK-T-EIA rose by 1.85 million barrels, to 395.99 million barrels, the EIA data showed. "We view that crude market risks are heavily skewed to the upside and whilst we are not explicitly forecasting Brent to rise to $100 per barrel, we see ... (more...)
Trump claims he rejected Trudeau meeting over Nafta frustrations Trump claims he rejected Trudeau meeting over Nafta frustrations
- September 27, 2018

Trump also cast serious doubt on ongoing NAFTA negotiations, raising issues with "the negotiating style of Canada". "We are continuing to work on getting to a right deal for Canada, a right deal for Canadians, and that involves, obviously, feeling confident about the path forward as we move forward - if we do - on a NAFTA 2.0 and the. (more...)
Head of Argentina's central bank quits after three months Head of Argentina's central bank quits after three months
- September 27, 2018

An IMF spokesman said a budget proposal submitted by Macri's government was a key element in the reforms needed for a new loan package while adding that there was still no timeframe for finalizing the aid. The IMF, which did not immediately respond to an email requesting comment, has so far extended $15 billion to the country and was expected to disburse an additional $3 billion in September . (more...)
Fed raises rates, sees at least three more years of economic growth Fed raises rates, sees at least three more years of economic growth
- September 27, 2018

But he also said that inflation doesn't seem likely to spike, which would allow the Fed to continue on its gradual path to raise rates off the record lows they set following the 2008 financial crisis. "A neutral to dovish speech from Chair Powell could boost gold prices, especially if it comes from more mentions of trade turmoil risks". In August , the president said he was "not thrilled" with Powell, his own appointee, for hiking rates. (more...)
Fed likely to lift rates, possibly end 'accommodative' policy era
- September 26, 2018

The Fed doesn't foresee interest rates going much above 3.25 percent to 3.5 percent in the coming years, although central bankers stress they will adjust policy depending upon what happens with the economy. The rate hike came as no surprise to economists and other market experts. In its statement , the Fed stressed repeatedly that the USA economy is "strong" across the board and no longer needs the heavy stimulus the central bank put into place during the Great Recession. (more...)
NAFTA deal ‘meaningless’ without protection from Trump auto tariffs, Canadian ambassador says NAFTA deal ‘meaningless’ without protection from Trump auto tariffs, Canadian ambassador says
- September 26, 2018

President Trump has always been a vocal critic of the 1994 North American Free Trade Agreement, blaming it for the loss of millions of American manufacturing jobs and the closure of thousands of factories. "I think everybody knows what each other's position is on all of the major issues and I think it's really a question of whether or not the US wants to have a deal". (more...)
Google lifts cryptocurrency advertising ban for regulated exchanges Google lifts cryptocurrency advertising ban for regulated exchanges
- September 26, 2018

CNBC reported that Google, from October, will end its outright ban on all crypto-related advertising, and allow regulated crypto exchanges to buy ads on its platform in the USA and Japan. Google and other social networks took the step of protecting their consumers and banning the ICO ads (which is still in effect), however, there is no reason why regulated entities should be included in the ban. (more...)
Just Dunkin': Dunkin' Donuts to change its name Just Dunkin': Dunkin' Donuts to change its name
- September 26, 2018

The sign of a Dunkin' store, the first since a rebranding by the Dunkin' Donuts chain, is pictured ahead of its opening in Pasadena, Calif., on August 2, 2017. The change will be reflected in napkins, cups, ads, and other materials beginning in January, then all the renovated locations going forward will be rebranded , and then the " Donuts " will eventually be stripped from signage around the world until they vanish forever. (more...)
OPEC sees U.S. shale oil stealing market share until late-2020s OPEC sees U.S. shale oil stealing market share until late-2020s
- September 26, 2018

A second round of penalties targeting Iran's oil exports is due to come into effect in early November, and the US administration has been pressuring other countries to cut their Iranian crude imports. US oil prices settled firmly higher Friday, after briefly paring gains, as prices bounced around ahead of meeting of major oil producers in Algiers over the weekend. (more...)
Connect The Dots: Trump Praises India As It Cuts Iran Oil Import
- September 26, 2018

In a speech before the United Nations, Mr Trump reiterated calls on the Organization of the Petroleum Exporting Countries to pump more oil and stop raising prices. Oil benchmark Brent traded little changed on Wednesday after rising to its highest in almost four years in the previous session while U.S. crude futures fell as United States' officials tried to assure that the market would be well-supplied before sanctions are re-imposed on producer Iran. (more...)
EU ready to offer May free-trade area after Brexit EU ready to offer May free-trade area after Brexit
- September 26, 2018

Jeremy Corbyn a Labour leader believes that a general election would be the best way to resolve the political crisis enveloping the Brexit negotiations, after European Union leaders rejected the prime minister's Chequers plan in Salzburg last week. (more...)
UK Labour opposition party vows to reject PM Theresa May's Brexit deal UK Labour opposition party vows to reject PM Theresa May's Brexit deal
- September 26, 2018

Starmer said Labour preferred the uncertainty to be settled in a general election "but if that's not possible, we must have other options. that must include campaigning for a public vote". On the risk to flights, the papers warn EU-issued aviation licences would no longer be valid and airlines would have to seek individual permissions to operate across Europe. (more...)
'Didn't expect that reaction': Trump gets laughs during UN speech 'Didn't expect that reaction': Trump gets laughs during UN speech
- September 26, 2018

Earlier Tuesday , Mr. Trump said he would not meet Iranian President Hassan Rouhani , but signalled he was open to a future meeting, despite simmering tensions over Tehran's nuclear deal. "And we embrace the doctrine of patriotism". He called on OPEC to stop raising oil prices and criticized China's trade practices. "The United States is determined to be involved in multi-lateral organizations where we see it", said U.N. (more...)
UK: May's cabinet 'fully behind' Brexit plan
- September 26, 2018

Mr Macron dismissed the biggest vote in United Kingdom history as "driven" by untruths after the EU's Salzburg summit last week, when the bloc's leader also rejected Prime Minister Theresa May's Brexit plan. JACOB REES-MOGG channelled his inner Mary Poppins yesterday as he urged Theresa May to seek a Canada-style free trade deal with the EU. He added: 'We're now, bluntly, in a cul-de-sac.' But Confederation of British Industry director Carolyn Fairburn warned a Canada-style deal would ... (more...)
Canada refusing to make concessions on NAFTA
- September 26, 2018

Under U.S. trade rules, the Trump administration was given authority to negotiate a three-way deal. "Hopefully we'll end up with something with Canada". "It would be unfair to all the people that have been involved - certainly the US workers, farmers and ranchers - to start a new negotiation with a new president of Mexico". (more...)
Michael Kors buys high-fashion label Versace for US$2.2B Michael Kors buys high-fashion label Versace for US$2.2B
- September 26, 2018

As part of the deal, Michael Kors agreed to buy all of Versace's outstanding shares for a total enterprise value of 1.83 billion euros ($2.2 billion), to be funded in cash, debt and shares in Michael Kors Holding Ltd, which will be renamed Capri Holdings Ltd. (more...)
Canada not making concessions needed for a NAFTA deal, says U.S.
- September 25, 2018

If Canada comes along now, that would be the best. If Canada comes along later, then that's what will happen. They're a huge trading partner of the United States. "We're sort of running out of time". If the remaining gaps can not be bridged in the next few days, the administration will request congressional approval of a deal with Mexico only, Lighthizer said in NY at the Concordia summit, an annual conference on policy issues. (more...)
Comcast outbids 21st CF in Sky deal with $40 bn offe Comcast outbids 21st CF in Sky deal with $40 bn offe
- September 25, 2018

The protracted takeover effort - kicked off in December 2016 when Fox offered to acquire the share of the British broadcaster that it didn't already own - neared culmination this weekend with Comcast outbidding Fox in a rare one-day auction . (more...)
Instagram founders depart Facebook after clashes with Zuckerberg Instagram founders depart Facebook after clashes with Zuckerberg
- September 25, 2018

Instagram founders Mike Krieger, left, and Kevin Systrom attend the 16th annual Webby Awards in NY in 2012. The news of their departure comes from The New York Times , and is corroborated by a statement from Systrom . The departure of Instagram's founders comes just weeks after Facebook made a decision to bring Instagram's chief operating officer, Marne Levine, back to Facebook to become its global head of business development. (more...)
Beijing to detail trade war stand after calling off United States talks Beijing to detail trade war stand after calling off United States talks
- September 25, 2018

In a white paper, published Monday, China said the United States was applying " extreme pressure " on Beijing to push forward its own interests, while pursuing " economic hegemony ". The trade tensions have also cast a pall over broader relations between Beijing and Washington, with the two sides butting heads on a growing number of issues. (more...)
Opec predicts massive rise in oil production over next five years Opec predicts massive rise in oil production over next five years
- September 25, 2018

Morgan says US sanctions on Iran could lead to a loss of 1.5 million bpd, while Mercuria warned that as much as 2 million bpd could be knocked out of the market. He sees US$90 oil by Christmas and US$100 in early 2019. The U.S. shale oil boom has dramatically reshaped the energy landscape turning the country into a major oil producer - on track, in fact, to be the largest producer this year according to the Energy Information Administration. (more...)
Deputy Attorney General Rod Rosenstein reportedly resigns Deputy Attorney General Rod Rosenstein reportedly resigns
- September 25, 2018

Trump appointed Rosenstein as deputy attorney general but had expressed extreme frustration with him for months, partly over his decision to hire Mueller past year. But let me be clear about this: "Based on my personal dealings with the president, there is no basis to invoke the 25th Amendment". Some news organizations reported that Rosenstein had submitted a verbal resignation to White House officials. (more...)
Singapore competition watchdog fines Grab, Uber $9.5 million Singapore competition watchdog fines Grab, Uber $9.5 million
- September 24, 2018

Grab completed the Transaction within its legal rights, and still maintains we did not intentionally or negligently breach competition laws. "Grab agrees with, and has long advocated for, industry-wide regulations that allow drivers to freely choose which platform or operator they wish to drive with", Lim said. (more...)
Oil prices at highest levels in 4 years
- September 24, 2018

ANZ Commodity Strategists describe global crude markets as "tight as a drum" at present. Trafigura Group co-head of oil trading Ben Luckock sees $90 oil by Christmas and $100 in early 2019. Brent for November settlement rose as much as US$2.14 to US$80.94 a barrel on the ICE Futures Europe exchange and traded at US$80.66 at 9:58 a.m.in London . (more...)
SiriusXM is Buying Pandora SiriusXM is Buying Pandora
- September 24, 2018

For every share of Pandora they own, shareholders will get 1.44 of newly issued shares of Sirius XM, the companies said in their announcement Monday. Creating a promotional platform for emerging and established artists, curated and personalized in ways to deliver the most compelling audio experience that connects artists to their fan bases, as well as new listeners. (more...)
Barrick Gold to unveil merger with Randgold Resources, say sources Barrick Gold to unveil merger with Randgold Resources, say sources
- September 24, 2018

Canada's Barrick Gold (TSX, NYSE : ABX ), the world's largest bullion producer by value, is about to become even bigger as it has agreed to buy Randgold Resources (LON:RRS) in a $18.3 billion share deal. "The boards of Barrick Gold Corporation and Randgold Resources Limited are pleased to announce that they have reached agreement on the terms of a recommended share-for-share merger.to create an industry-leading gold company", read the statement. (more...)

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