Business


China’s Exports, Imports Grow, as Does Trade Surplus With US China’s Exports, Imports Grow, as Does Trade Surplus With US
- October 12, 2018

September exports rose 14.5 percent from a year earlier, the fastest pace since February, the customs data showed. The move is part of the wide push from Washington against Beijing , in which the latest episode was the slapping of tariffs on US$250 billion worth of Chinese products. (more...)
British PM May briefed inner cabinet 'Brexit deal close' British PM May briefed inner cabinet 'Brexit deal close'
- October 12, 2018

This date is the end of the transition period negotiated by the United Kingdom as part of the divorce deal with the EU. It comes after East Antrim MP Sammy Wilson warned his party would withdraw support from the government if it did not approve of the Brexit deal. (more...)
Microsoft back as a top PC vendor Microsoft back as a top PC vendor
- October 12, 2018

The global PC market may be stabilizing. Microsoft is still a long way behind the other players in the top five, and its shipments were only up slightly by 11,000 units, gaining just 0.1 percentage points (to 4.1 percent market share). At last, we should also mention IDC's 17.2 million units. In brief: The PC market had its most successful quarter in six years during Q2, and while growth was flat during the last quarter, it still exceeded expectations. (more...)
International Monetary Fund warns of looming risks to global economy International Monetary Fund warns of looming risks to global economy
- October 12, 2018

Christine Lagarde, the IMF director during her opening remarks at the 2018 IMF/World Bank annual press conference Thursday in Bali Indonesia said, economies will need stronger worldwide cooperation because the global economy is strong, but it probably is not strong enough. (more...)
UK Govt brushes off Brexit threat by N. Irish allies UK Govt brushes off Brexit threat by N. Irish allies
- October 12, 2018

Barnier told small business leaders that the talks were "continuing intensively this week, day and night, with the aim. of having a deal within reach, if we follow through to the end of this negotiations, on October 17". The prime minister summoned members of the Brexit "war cabinet" on Thursday to build support for the terms of the withdrawal agreement before seeking the backing of her full cabinet and the rest of her party. (more...)
Trump says Fed is 'out of control' Trump says Fed is 'out of control'
- October 12, 2018

During a rally in Pennsylvania on Wednesday night, Trump said he didn't believe the Fed was accurately adjusting its interest rate policy in line with US economic data. Fed officials including Powell, Trump's handpicked chair, have said pointedly that they will not be influenced by comments from elected officials, and will make decisions based on economic data. (more...)
Fraudulent finance fears hit Patisserie Valerie ahead of Barons Quay opening Fraudulent finance fears hit Patisserie Valerie ahead of Barons Quay opening
- October 11, 2018

It relates to a £1.14 million tax bill. In its statement, the firm said that over the past 24 hours it had "undertaken further investigation into the financial status of the company". The company announced earlier this week that finance director Chris Marsh had been suspended. Commenting on the news, Luke Johnson , chairman of Patisserie Holdings, said that the group was "deeply concerned about this news and the potential impact on the business". (more...)
Ikea to invest close to Rs 1,000 crore in Bengaluru store Ikea to invest close to Rs 1,000 crore in Bengaluru store
- October 11, 2018

On a comparable store basis, retail sales were up just 1 per cent in local currencies. Inter Ikea, which owns the Ikea brand and concept, announced its expansion plans as it revealed that sales at its franchise-holder stores had risen by 4.5 per cent in the year to the... (more...)
Tesla: James Murdoch firming as chairman candidate Tesla: James Murdoch firming as chairman candidate
- October 11, 2018

Elon Musk has denied a report in the Financial Times that James Murdoch is poised to replace him as chairman of Tesla . The SEC intends to distribute the penalties to affected investors, it said . proxy advisors Glass Lewis & Co and International Shareholder Services, along with the union-affiliated investment advisor CtW Investment Group, all recommended that investors vote "against" Mr Murdoch's re-election as a Tesla director during the companies annual June 5 meeting. (more...)
At midday: TSX, Wall Street continue to fall as sell-off extends globally At midday: TSX, Wall Street continue to fall as sell-off extends globally
- October 11, 2018

Boeing lost 4.7 per cent to US$367.57 and Alphabet, Google's parent company, gave up 4.6 per cent to US$1092.16. Technology stocks slid more than 2 percent, the most among the 11 major S&P sectors, with the Philadelphia Semiconductor index down 3 percent after Swiss vacuum valve maker VAT Group said demand from chip equipment makers was softening. (more...)
Trump calls stock sell-off 'a correction,' says Federal Reserve is 'crazy' Trump calls stock sell-off 'a correction,' says Federal Reserve is 'crazy'
- October 11, 2018

I think the Fed has gone insane", Trump told reporters as he arrived for a campaign rally ahead of the U.S. mid-term elections. "The Fed has gone insane", Trump said . The markets have been on a historic climb - with the Dow and S&P each notching dozens of new highs since 2016 - buoyed by a strong USA economy and solid corporate earnings. (more...)
Bali rattled by quake ahead of Dr M’s visit
- October 11, 2018

Some attendees in Bali for the International Monetary Fund and World Bank annual meetings this week evacuated their hotels as the quake shook the island. People on the island were reported to have briefly panicked and fled their homes. Indonesia's disaster agency, BNPB, is asking for tents, water treatment units, generators and transport from other countries as it still recovers from the previous quake and tsunami, which struck September 28. (more...)
China Tells the USA to Stop Criticizing Beijing's Policies China Tells the USA to Stop Criticizing Beijing's Policies
- October 11, 2018

But the senior US official said the United States still expected cooperation with Beijing on efforts to denuclearize North Korea, whose chief ally is China. We believe this has been a direct attack on our mutual trust, and has cast a shadow on China-US relations. We demand that the U.S. side stop this kind of misguided action. (more...)
China Tells the USA to Stop Criticizing Beijing's Policies China Tells the USA to Stop Criticizing Beijing's Policies
- October 11, 2018

But the senior US official said the United States still expected cooperation with Beijing on efforts to denuclearize North Korea, whose chief ally is China. We believe this has been a direct attack on our mutual trust, and has cast a shadow on China-US relations. We demand that the U.S. side stop this kind of misguided action. (more...)
U.S. Stocks Fall Sharply, Tech Sector Leads Declines U.S. Stocks Fall Sharply, Tech Sector Leads Declines
- October 11, 2018

The Dow Jones Industrial Average experienced the third worst point decline in its history Wednesday, falling more than 800 points. Higher long-term rates could slow down red hot sectors of the economy, including technology, especially as the Federal Reserve seems intent on raising short-term rates for the foreseeable future. (more...)
US President Trump calls the US Fed 'crazy', stock declines a 'correction' US President Trump calls the US Fed 'crazy', stock declines a 'correction'
- October 11, 2018

United States shares suffered a broad-based selloff that slashed more than three percent from major indices. "So you can say that well that's a lot of safety actually, and it is a lot of safety, and it gives you a lot of margins, but I think the Fed has gone insane". (more...)
Tech, luxury goods lead Wall Street slide Tech, luxury goods lead Wall Street slide
- October 11, 2018

Stocks from emerging markets were also hard hit. The stock fell 16.8 per cent to 49 cents. Technology stocks dropped 3 percent, with Netflix , Amazon and Google parent Alphabet leading the way. That has helped make technology stocks more volatile in the last few months. There have recently been several indications that the US housing market has cooled, likely in part due to higher rates on mortgages. (more...)
Trump Takes Swipe at Fed as Stocks Tumble
- October 11, 2018

According to Donald Trump, before departing for another campaign event in Iowa: "well, I like to see low interest rates". The criticism is also unusual given that Jerome Powell, the Fed chairman, was appointed by Mr... Just two hours before, CNBC reported that an unnamed senior White House official told its correspondent that, "This is a bull market correction". (more...)
Media Stocks Tumble as Stock Market Drops More Than 800 Points
- October 11, 2018

The benchmark S&P 500 is down 3.3 per cent to 2,786. The 10-year yield is now 3.20 percent, the highest in than seven years and up sharply form 2.82 percent in late August. Higher rates can slow economic growth, erode corporate profits and make investors less willing to pay high prices for stocks. Wall Street stocks plunged on Wednesday (Oct 10), with major indices losing more than 3 per cent in a sell-off prompted by the sudden jump in U.S. (more...)
Investors underestimate risk of financial shock, IFM warns Investors underestimate risk of financial shock, IFM warns
- October 11, 2018

But the fund lowered China's economic outlook for 2019 to 6.2 per cent, which would be the country's slowest growth since 1990. The financial market volatility will likely continue next year, because the US Federal Reserve, after raising the federal funds rate by 25 basis points in its September 26 meeting, nonetheless signaled another rate hike by the end of this year and maintained its projection for three rate hikes in 2019. (more...)
Pixel 3 includes USB-C headphones, dongle in the box Pixel 3 includes USB-C headphones, dongle in the box
- October 11, 2018

A Google Pixel 3 smartphone is photographed in New York, Tuesday, Oct. 9, 2018. Google branched into hardware three years ago so that, like Apple , it could have full control of the performance of its applications and the revenue they generate. (more...)
US could issue waivers for Iran crude; oil prices dip Monday US could issue waivers for Iran crude; oil prices dip Monday
- October 10, 2018

India, however, wants to keep importing oil from Iran, because Tehran offers discounts and incentives for them at a time when the Indian government is struggling with higher oil prices and a weakening local currency. "We continue to discuss our Iran policy with our counterparts around the world and the implications of our re-imposition of sanctions previously lifted or waived under the JCPOA". (more...)
Sears shares dive 27% after report says retailer is preparing for bankruptcy Sears shares dive 27% after report says retailer is preparing for bankruptcy
- October 10, 2018

M-III Partners has been working the past couple of weeks at Sears Holdings' headquarters in Hoffman Estates , Ill., people familiar with the situation told the Journal. Carr is a former attorney at the law firms Skadden Arps Slate Meagher & Flom and Ravin Sarasohn Baumgarten Fisch & Rosen and now is the CEO of Drivetrain, an advisory firm for distressed businesses. (more...)
Google appeals EU's $5 billion fine over Android antitrust practices Google appeals EU's $5 billion fine over Android antitrust practices
- October 10, 2018

Google has appealed against the European Commission's almost $ 5 billion fine that was imposed on the tech giant in July for illegally using Android mobile devices to strengthen dominance of Google's Search engine. In its July decision, Brussels accused Google of using the Android system's huge popularity on smartphones and tablets to promote the use of its own Google search engine and shut out rivals. (more...)
International Monetary Fund revises medium-term growth rate downward
- October 10, 2018

Among major USA trading partners, Japan and the European Union have won exemptions from the planned US auto tariffs while respective trade negotiations with Washington are underway. The rapid build-up in debt in China in recent years also is a concern, although Chinese authorities have taken steps to rein in debt growth, he said. (more...)
China / China further cuts banks' reserve requirements as trade war imperils growth China / China further cuts banks' reserve requirements as trade war imperils growth
- October 10, 2018

The cut in RRR will introduce about RMB 750 billion of cash into the banking system through the release of RMB 1.2 trillion in liquidity. Wen Bin, chief researcher of China Minsheng Bank, said that the move would unleash 1.2 trillion yuan of capital into the market, but it would not change the central bank's stance of sticking to a prudent and neutral monetary policy, as its goal was to reduce financing costs of the real economy. (more...)
Commuter chaos to continue during afternoon peak hour Commuter chaos to continue during afternoon peak hour
- October 10, 2018

He said they would attempt to spread the evening's cancellations across the network. 'Central station is packed. Sydney Trains planned for 76 drivers to be sick, but about 40 additional staff were also off. "There is nothing industrial in this, there is nothing untoward, it's just unfortunate", he said. "The objective here is not so much to refund people, but ensure there's not need for refunds." Under the policy, delays of more than half an hour will trigger an automatic refund, and ... (more...)
International Monetary Fund says Nigeria’s economy doing poorly, cuts growth projection International Monetary Fund says Nigeria’s economy doing poorly, cuts growth projection
- October 10, 2018

To correct the underlying imbalances, fiscal and monetary actions needed to be undertaken without delay. Pakistan's economy has been wobbly for months amid speculation that Prime Minister Imran Khan's new government would request the country's 13th International Monetary Fund bailout since the late 1980s. (more...)
US officials divided over Iran access to swift
- October 10, 2018

Although US sanctions against Iran begin on November 5, the US State Department is reportedly looking at reduction waivers for individual countries - with India cited - to give them more time to replace oil imports from Iran. UCO Bank had in the previous round of sanctions handled rupee payments. "It's certainly not the opinion of President Trump, it's not what he told them to do, and it's not how Congress is going to proceed moving forward". (more...)
Nobel Prize for Economic Sciences awarded to William Nordhaus, Paul Romer Nobel Prize for Economic Sciences awarded to William Nordhaus, Paul Romer
- October 09, 2018

Though many developed economies have adopted a carbon tax, the United States has not. Protecting the environment has become a major concern across the globe as more people are talking about climate change . Romer's work focuses on the way in which societal innovations based around technology can boost long-term growth. Its supporters encourage governments and the private sector to foster innovation and incentives for increased creativity. (more...)

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