Business


International Monetary Fund lowers SA's economic growth forecasts International Monetary Fund lowers SA's economic growth forecasts
- October 09, 2018

It is expected to grow 1.4 percent in 2019, down from a previous estimate of 1.7 percent, the Fund said in its latest World Economic Outlook report. Some energy-rich emerging market countries have fared better due to higher oil prices, with Saudi Arabia and Russian Federation seeing forecast upgrades. (more...)
Oil drops below $83 on expectations Iran will maintain some exports Oil drops below $83 on expectations Iran will maintain some exports
- October 09, 2018

And Saudi Arabia and OPEC and non-OPEC countries, they've produced 1.5 million barrels a day. Consequently, rising oil supply has added to the pressure observed in the oil complex this morning. sanctions. Iran has warned that if it were not able to export its crude oil through the Strait of Hormuz, no other country would be able to do so, threatening to block the strategic strait. (more...)
US, UK authorities hose down server supply chain hack claim US, UK authorities hose down server supply chain hack claim
- October 08, 2018

Apple contested the Bloomberg report on Thursday, saying in a statement that its own internal investigations found no evidence to support the story's claims and that neither the company, nor its contacts in law enforcement, were aware of any investigation by the FBI into the matter. (more...)
India buying Iran oil in defiance of Trump sanctions India buying Iran oil in defiance of Trump sanctions
- October 08, 2018

Reuters had reported on Friday that India would buy 9 million barrels of Iranian oil next month. According to Indian Oil Minister Dharmendra Pradhan , two local companies have placed orders to import Iranian crude next month. Olivier Jakob of Petromatrix said: "One way or another, it looks as though India is going to take some Iranian crude". Addressing foreign governments seeking to circumvent renewed USA sanctions, he added: "As I've said to them, it's like a book that was written ... (more...)
That latest warning from your Facebook friends is a hoax, officials say That latest warning from your Facebook friends is a hoax, officials say
- October 08, 2018

So, all of those messages that you're seeing from your friends anxious that they were hacked? Hundreds if not thousands of Facebook users have been led to believe that someone hacked their account and sent friend requests to other people. (more...)
How to avoid the latest ‘Got Another Friend Request’ Facebook hoax
- October 08, 2018

It then urges you to then forward on the message. Facebook hacks mean somebody has access to your account and any information or messages within it. which I ignored so you may want to check your account", the message says. The message claims the sender has received a second friend request from you and warns you to check your account. (more...)
US SEC reveals progress made on Bitcoin ETF proposal US SEC reveals progress made on Bitcoin ETF proposal
- October 08, 2018

This was clearly stated in the letter filed by CEO of GraniteShares , William Rhind, to the SEC . So far, the SEC has rejected any of the previously proposed rule changes. However, the commission, through a decision taken by its Division of Trading and Markets, had rejected the proposed rule changes. This is not exactly the most earth shattering news concerning these proposals, but it is another important step forward in the eventual passing or rejection of rules that could allow for ... (more...)
Fuel prices witness fresh hike Fuel prices witness fresh hike
- October 08, 2018

Bihar government also reduced petrol and diesel prices by Rs 2.52 and Rs 2.55 per litre respectively on Friday. Petrol and diesel prices were cut by a minimum Rs 2.50 on October 5 when the government's only second cut in excise duty of Rs 1.50 per litre and state-owned fuel retailers providing a Re 1 per litre subsidy came into effect. (more...)
JBS recalls 6.9M pounds of beef linked to salmonella outbreak JBS recalls 6.9M pounds of beef linked to salmonella outbreak
- October 08, 2018

The agency posted a 33-page list of the recalled items, which were shipped to retail locations and institutions across the country. An Arizona company is recalling just over 6.5 million pounds of beef due to possible salmonella contamination. (more...)
Iconic Tokyo fish market shuts after 83 years Iconic Tokyo fish market shuts after 83 years
- October 08, 2018

The bluefin tuna, pictured above, sold for a hefty 74.2 million yen ($615,350; £499,235) at last year's auction - but well short of the record of more than $1.7m paid for a single bluefin in 2013. The new site will feature state-of-the-art refrigeration, while tourists will be confined to special galleries behind glass. Tokyo Governor Yuriko Koike gave assurances in September that the site was now safe, but some retailers remain anxious. (more...)
Unilever backs down on headquarters move to Netherlands Unilever backs down on headquarters move to Netherlands
- October 08, 2018

Unilever (ul) said when it announced the move in March that a single Dutch base would give it more flexibility to "undertake major M&A" using the stock or disposing of parts of the business. "The board continues to believe that simplifying our dual-headed structure would, over time, provide opportunities to further accelerate value creation and serve the best long-term interests of Unilever", board chairman Marijn Dekkers stated. (more...)
Popeye's is testing out gold-coated chicken wings Popeye's is testing out gold-coated chicken wings
- October 08, 2018

The chicken chain announced a special menu item - its 24 Karat Champagne Wings - in a Thursday news release . "We wanted to share this celebration with our fans, so our chefs cooked up something extra special for them". The lucky locations are in Manhattan, New Orleans , and Anaheim, California-as well as the new Elizabeth Popeyes eatery. You only have today to purchase the gold-dipped wings. (more...)
US actively considering waivers on Iran oil sanctions US actively considering waivers on Iran oil sanctions
- October 08, 2018

Addressing foreign governments seeking to circumvent renewed U.S. sanctions , he added: "As I've said to them, it's like a book that was written several decades ago in this country- it was called something like the 'Six Stages of Grief.' You know, first you have denial, then you have anger". (more...)
Job market bounces back in September Job market bounces back in September
- October 07, 2018

Year-over-year the unemployment rate is up from September 2017 when it sat at 5.2 per cent, with 38,200 employed. The number of full-time positions declined by 16,900. "The main point is that employment is still growing faster than the underlying labour force, cutting into slack and supporting decent income gains". (more...)
Mega Millions ticket sold in Elizabethtown matches $1M prize Mega Millions ticket sold in Elizabethtown matches $1M prize
- October 07, 2018

The Mega Millions jackpot for Tuesday is estimated to swell to $470 million dollars. The previous jackpot was valued at $420 million . The winning numbers were 27, 28, 32, 41 and 69. There was no victor in Wednesday's Powerball drawing , pushing Saturday's jackpot to $253 million. There was no jackpot victor in last Tuesday's drawing . (more...)
September jobs report - will higher wages, more jobs attract workers? September jobs report - will higher wages, more jobs attract workers?
- October 07, 2018

This is the longest period of job growth in history. State education added 21,200, an extraordinary gain, since employment had been virtually flat over the prior year, although this may be partly a problem in seasonal adjustment. Employment in the sector is 7,900 below its year-ago level and 29,300 below the peak hit in October of 2016. According to CNBC , the nation's job market roared to life last month as the unemployment rate for American workers plummeted to levels not seen in roughly ... (more...)
Lawsuit claims cockroach insecticide found in LaCroix drinks Lawsuit claims cockroach insecticide found in LaCroix drinks
- October 07, 2018

The customer alleges that the drinks include an ingredient used in cockroach insecticide as well as other artificial ingredients. The lawsuit mentions three ingredients specifically. It said all essences are "certified by our suppliers to be 100% natural". The lawsuit claims that parent company, Natural Beverage Corporation , is "intentionally misleading consumers" and aims to "award damages to those who purchased the drink under the assumption that it was all natural". (more...)
Yield curve steepens after miss on headline jobs number Yield curve steepens after miss on headline jobs number
- October 07, 2018

Canada's main stock index also fell on Friday, despite gains in industrial and health care shares and strong jobs data. The pan-European FTSEurofirst 300 index lost 0.86 percent and MSCI's gauge of stocks across the globe shed 0.67 percent. (more...)
New Waitrose scheme lets drivers ‘put away’ shopping while homeowners are out New Waitrose scheme lets drivers ‘put away’ shopping while homeowners are out
- October 07, 2018

Waitrose & Partners has launched a new service that will see the retailer access customers' homes and fill their fridge while they are away. It allows customers to set an access code for their door lock, which is sent to Waitrose via a secure app, then on to the driver at the time of delivery . (more...)
MPC Keeps Repo Rates Unchanged, Resorts to ‘Calibrated Tightening’ MPC Keeps Repo Rates Unchanged, Resorts to ‘Calibrated Tightening’
- October 07, 2018

If the RBI does raise rates, Garg said it could do so in either a "neutral" or "hawkish" manner. The MPC projects inflation at 3.9-4.5 percent in H2 of FY19 and 4.8 percent in Q1 of FY20. Last week, the RBI's eased banks' liquidity coverage ratio norms last week, and announced it would be buying 360 billion rupees of government bonds through open market bond purchases to soothe the liquidity worries haunting markets. (more...)
Wi-Fi generations get a simpler naming scheme Wi-Fi generations get a simpler naming scheme
- October 07, 2018

The new Wi-Fi 6 technology aims to improve on the existing standards through more efficient use of spectrum, while adding additional frequency bands to the existing options. The next generation of Wi-Fi will be known to engineers as 802.11ax. For a new Wi-Fi standard to be approved, it requires years of work and for various parties to input into the process. (more...)
Merced retail store to close following corporate bankruptcy Merced retail store to close following corporate bankruptcy
- October 07, 2018

The Houston-based retailer filed Chapter 11 reorganization bankruptcy in DE on Friday and announced plans for the store closings in a news release . The Okemos store is part of the roughly 200 stores that will close in the next few days. (more...)
Gold rises as USA dollar eases
- October 07, 2018

Investors sold off USA government bonds Friday after fresh data showed the labor market continued to tighten in September, more reason for the Fed stick to its plans to keep gradually raising interest rates. The groundswell of economic optimism swept the USA dollar to a six-week high on a basket of currencies and it was last trading up 0.34 percent at 96.086. (more...)
Traders eye US$100 oil as Iran sanctions loom Traders eye US$100 oil as Iran sanctions loom
- October 07, 2018

A pumpjack brings oil to the surface in the Monterey Shale, California, U.S., April 29, 2013. The global oil benchmark, Brent crude, rose above $86 per barrel on Wednesday, as traders considered reported declines in Iranian exports due to pending United States' sanctions. (more...)
Yuan Falls to Seven-Week Low Against Dollar on Fed Chairman's Comments Yuan Falls to Seven-Week Low Against Dollar on Fed Chairman's Comments
- October 07, 2018

The peso closed at a new 13-year low against the U.S. dollar Thursday after the Federal Reserve indicated more rate hikes are coming, a statement that bolstered the value of the greenback. Fed policy makers also indicated another hike in December, three more in 2019 and probably one more in 2020. Fed officials now estimate that rate at about 3 percent. (more...)
United Airlines pilot declares mayday over low fuel, lands safely in Sydney United Airlines pilot declares mayday over low fuel, lands safely in Sydney
- October 06, 2018

NSW Police launched a full-scale emergency response to the mayday call, closing some streets around the airport. Nine Network television reported that one of its journalists, Liz Hayes, was aboard the plane and had been unaware that there had been any problem. (more...)
India Introduces Fuel Relief On Rising Prices At The Pump India Introduces Fuel Relief On Rising Prices At The Pump
- October 06, 2018

OPPOSITION PARTIES on Thursday slammed the BJP government after it announced a Rs 2.50 per litre cut in prices of petrol and diesel. Maharashtra and Gujarat governments were among the first to announce a matching Rs 2.50 cut. The fuel price cut decision is only the latest in India's government efforts to cushion the blow from rising oil prices. Prior to Friday's cut, petrol price had risen by Rs 6.86 a litre and diesel by Rs 6.73 since mid-August - the most in any six-week duration after ... (more...)
European Union negotiators say Brexit deal 'very close' but details missing European Union negotiators say Brexit deal 'very close' but details missing
- October 06, 2018

The EU is preparing to offer Theresa May a "supercharged" free trade deal but will reject Mrs May's demands for frictionless trade, it has emerged. "This would unite the Conservative Party, be a good deal for the country, deliver on Brexit and it is really hard to see why the Government is not embracing this", Rees-Mogg said . (more...)
UK's May aims to gain Conservative control after storm Boris UK's May aims to gain Conservative control after storm Boris
- October 06, 2018

Look, unpredictable things happen, Tory deputy chairman James Cleverly told Sky News. No undoing all the progress of the last eight years. Her speech was aimed at providing an upbeat vision for Britain post-Brexit - and after eight years of austerity. (more...)
China slams 'ridiculous' U.S. election meddling charges, East Asia News & Top Stories China slams 'ridiculous' U.S. election meddling charges, East Asia News & Top Stories
- October 05, 2018

China has mounted an unprecedented effort to not only meddle American elections, but also shape the public opinion of the country, which makes pale the efforts of other countries through lobbying, the White House alleged as it fielded the vice president to issue a strong warning to China and make Americans aware of the real Chinese intentions. (more...)

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