Business


Opec's supply cut bid pumps up oil price Opec's supply cut bid pumps up oil price
- November 14, 2018

Malaysia agreed in December 2016 to cut its production by 20,000 barrels a day to the agreed 600 million barrels until the next meeting the Vienna meet. Brent crude dropped below $70 a barrel on Friday for the first time since April but it was trading above $71 a barrel on Monday. West Texas Intermediate crude also dropped to a nine-month low, below $60 a barrel. (more...)
Tech stocks are getting slammed, Dow drops more than 400 points Tech stocks are getting slammed, Dow drops more than 400 points
- November 14, 2018

The S&P 500 index fell 46 points, or 1.7 percent to 2,734. THE QUOTE: "Tech is definitely weighing (on the market)", said Lindsey Bell, investment strategist at CFRA. The Canadian dollar edged higher against a broadly stronger US dollar on Monday, supported by a bounce in the price of oil, but remained close to the multi-month low touched on Friday. (more...)
Flipkart CEO Binny Bansal Resigns Due To Investigation Flipkart CEO Binny Bansal Resigns Due To Investigation
- November 13, 2018

The co-founder and chief executive officer of e-commerce company Flipkart Group has resigned after an investigation into allegations of "serious personal misconduct", owner Walmart Inc. He reportedly told the business daily that he was leaving because even though allegations against him were turned out to be false, he could not continue to be the Group CEO after such charges were leveled against him. (more...)
Apple Suppliers Tumble on New Signs of Weak iPhone Demand Apple Suppliers Tumble on New Signs of Weak iPhone Demand
- November 13, 2018

Apple Inc' and major suppliers to the company's iPhone fell Monday as investors fretted that one of the most important product lines in the technology sector was seeing weak demand. A recent report noted that Apple's directive to suppliers translates to about 100,000 fewer iPhone XRs being made each day. South Korean electronic parts suppliers Samsung Electro-Mechanics Co Ltd, Apple's supplier of multi-layer ceramic capacitors, dropped more than 5 percent, while LG Innotek Co Ltd plunged ... (more...)
Amazon to announce Long Island City, Northern Virginia as HQ2 locations Amazon to announce Long Island City, Northern Virginia as HQ2 locations
- November 13, 2018

The Wall Street Journal reported about a week ago that Amazon was in late-stage negotiations with several locations including New York, Crystal City as well as Dallas. Andrew Cuomo said New York has prepared a "great incentive package" to lure Amazon to the area, The New York Times reported . It's about to be official: New York City and Washington, D.C. (more...)
Several pilots spot UFOs off Irish coast Several pilots spot UFOs off Irish coast
- November 13, 2018

The pilot of a British Airways flight first raised the alarm after contacting Shannon Air Traffic Control (ATC) to find to find out if any military exercises were taking place in the airspace they were travelling through. The incident happened on November 9 as the pilot from British Airways flight BA94 from Montreal to London, and a Virgin Airlines pilot of VS76 from Orlando to Manchester noticed the objects. (more...)
Falih: Saudi Arabia to cut December oil output by 500000 bpd Falih: Saudi Arabia to cut December oil output by 500000 bpd
- November 13, 2018

The administration had been counting on Saudi Arabia to assure oil supply to prevent a run-up in prices. But producers ended up cutting more - partly due to unexpected outages in Venezuela, Libya and Angola - and so agreed in June to limit cuts to the agreed level, meaning restoring about 1 million bpd in output. (more...)
Saudi says to cut oil output as producers discuss price dip Saudi says to cut oil output as producers discuss price dip
- November 12, 2018

Saudi Energy Minister Khalid al-Falih listens to questions during a meeting of the Joint Ministerial Monitoring Committee in the Emirati capital Abu Dhabi . The Saudi minister acknowledged that so far there was no fresh agreement on reducing production among OPEC and non-OPEC producers, who struck a deal in late 2016 to cut output by 1.8 million bpd to remedy an oversupply crisis. (more...)
Major oil producers foresee oversupply, edge closer to production cuts Major oil producers foresee oversupply, edge closer to production cuts
- November 12, 2018

But Falih said ahead of the meeting of OPEC and non-OPEC key producers that there was not yet consensus on a broader output cut. Saudi Energy Minister Khalid al-Falih said on Monday OPEC and its partners agree that technical analysis shows a need to cut oil supply next year by around 1 million bpd from October levels to avoid an unwelcome build-up of unused crude. (more...)
Veterans Day deals and discounts Veterans Day deals and discounts
- November 12, 2018

Bring your military identification to take advantage of these terrific offers. Veterans past and present may enjoy a free drink of any size on Veterans Day (11/11). Swing by Starbucks for a free tall hot brewed coffee on the 11th. You will need a proof of military service. Outback Steakhouse on Sunday, November 11 will offer veterans a free Bloomin' Onion and a beverage. (more...)
Ford jumps into scooter-sharing with Spin acquisition | Leadership Ford jumps into scooter-sharing with Spin acquisition | Leadership
- November 12, 2018

Ford has recently acquired a San Francisco based electric scooter sharing company- Spin for $40 million. In an interview with Automotive News Sunny Madra, head of Ford X , the company's mobility incubation arm, stated Spin , under Ford's wing, will launch in around 100 cities over the next 18 months. (more...)
Kamloops childcare provider selected to deliver low-priced, universal child care Kamloops childcare provider selected to deliver low-priced, universal child care
- November 12, 2018

The centre offers support for families who are new to Canada and cares for many Indigenous children. Families at the YMCA Highland Development Centre are now paying $200 a month per child as part of the government's universal child-care prototype project, the B.C. (more...)
POLITICALIFE: Chinese Splash $35 Billion On Singles Day POLITICALIFE: Chinese Splash $35 Billion On Singles Day
- November 11, 2018

China's Singles' Day sales on TMall hit 10 billion yuan (about 1.44 billion USA dollars) at just two minutes and five seconds after midnight on Sunday. Will Singles Day keep on growing? This is also likely to be Alibaba's last November sale event with founder and chairman Jack Ma at its helm. (more...)
Dubai Police to patrol on Hoverbikes Dubai Police to patrol on Hoverbikes
- November 11, 2018

Police in Dubai have begun training on hoverbikes in the hope that they can help first responder units reach areas that would otherwise be hard to reach. The police force has now received delivery of the first production unit of the S3 2019 Hoverbike. Legit.ng gathers that the hoverbikes will be in action by 2020 with two crews already learning how to pilot them. (more...)
Sainsbury's profit rise driven by cost savings Sainsbury's profit rise driven by cost savings
- November 11, 2018

For its first half to 22 September, Sainsbury's made an underlying pretax profit of £302 million - ahead of analysts' mean forecast of £280 million and the £251 million made in the same period previous year. "The market remains very competitive and we are transforming our business to meet rapidly changing customer needs, ' Sainsbury's Group CEO Mike Coupe said". (more...)
Telstra announces resignation of Robyn Denholm as Chief Financial Officer Telstra announces resignation of Robyn Denholm as Chief Financial Officer
- November 11, 2018

In August 2018, Musk had posted a series of tweets in which he expressed his intention to take Tesla private at $420 a share which sent the company's shares to an intraday high of $387.46. Whether she is independent enough to rein in public outbursts by Musk - who mocked the SEC as the "Shortseller Enrichment Commission" on Twitter after the fraud charge settlement - is an open question. (more...)
China Oct exports strong in race to beat tariffs China Oct exports strong in race to beat tariffs
- November 11, 2018

The upbeat trade readings offer good news for both those anxious about global demand and for China's policymakers after the economy logged its weakest growth since the global financial crisis in the third quarter. Trump has railed against China over intellectual property theft, entry barriers to U.S. businesses and its persistently large trade surplus with the United States. (more...)
Mitsubishi L200 Revealed With Dynamic Shield Design Language Mitsubishi L200 Revealed With Dynamic Shield Design Language
- November 11, 2018

Turn it on and it'll handle the engine's power, transmission, and braking to control the amount of wheel slip to boost traction on hard terrains. The new model brings enhancements to the durability, reliability and comfort developed over the 40 years since the introduction of the series. (more...)
Coke frightens Monster with plans for new energy drink Coke frightens Monster with plans for new energy drink
- November 11, 2018

The company provides water, enhanced water, and sports drinks; juices; juice, dairy, and plant–based beverages; teas and coffees; and energy drinks. "We have submitted the difference in interpretation to an arbitration panel for resolution, which is the mechanism agreed by the Coca-Cola Co and Monster in the original agreements", a Coca-Cola spokesperson said. (more...)
FDA Plans To Impose Severe Restrictions On E-Cigarettes FDA Plans To Impose Severe Restrictions On E-Cigarettes
- November 11, 2018

Andrew Cuomo, said in an email. "We now have evidence that a new generation is being addicted to nicotine, and we can't tolerate that", he said, referring to the vaping data in an interview before he made final decisions on e-cigarette policy. (more...)
Veterans Day freebies and discounts that say ‘thank you’ Veterans Day freebies and discounts that say ‘thank you’
- November 11, 2018

The Mexican chain will offer a free "create-your-own" combo meal to veterans, choosing any two items off of the combo menu, including tacos, empanadas, and enchiladas, on November 11 . Free entree up to $12 on Veterans Day (Sunday) for veterans and active-duty military members who dine inside. Sport Clips: Free haircut on Monday, November 11 , 2013 for veterans and active-duty military personnel at select loctions. (more...)
Sterling hammered by Jo Johnson resignation Sterling hammered by Jo Johnson resignation
- November 11, 2018

Jo Johnson said the choice being offered was between a "travesty of Brexit" under the deal being thrashed out by the Prime Minister and the European Union, or the "untold damage" of a no-deal Brexit. Meanwhile, Britain's Jo Johnson said he knew other ministers and lawmakers were "reflecting hard" on whether to quit in protest at Theresa May's Brexit plan after his dramatic resignation on Friday ramped up pressure on the prime minister. (more...)
Scotiabank Initiates Coverage on Canopy Growth (CGC) Scotiabank Initiates Coverage on Canopy Growth (CGC)
- November 11, 2018

If the stock volatility is on the rise in the market, then it will create more risky situation of the security and vice versa. The indicator should not be confused with relative strength. CGC has a 1 year low of 236.90% and a 1 year high of -28.35%. As CGC has a P/S, P/E and P/B estimations of 129.35, 0 and 10.01 separately. On The Other side Starbucks Corporation a U.S. (more...)
Flybe flight plummeted 500ft in seconds after 'autopilot error' Flybe flight plummeted 500ft in seconds after 'autopilot error'
- November 11, 2018

The aircraft continued to climb to 1,500ft but it "pitched nose-down and then descended rapidly" when autopilot was set to zero by mistake. The terrified crew of a Flybe plane which " pitched nose down " as it headed to earth "saw the ground" as they plummeted downwards for eighteen seconds, it has emerged. (more...)
SSE and npower merger ‘in a shambles’ after delays over price cap SSE and npower merger ‘in a shambles’ after delays over price cap
- November 11, 2018

But they said talks over the new terms of the deal will take "several weeks" and will likely see the deal delayed beyond the first quarter, although they stressed "all work" to complete the merger would continue. Shares in SSE were down 3 percent while shares in Innogy slipped 0.5 percent by 1040 GMT. In an announcement released after the United Kingdom stock market closed on Thursday, SSE says it is considering "potential changes" to the commercial terms of its merger and re-listing ... (more...)
Last Kmart in Chicago set to close Last Kmart in Chicago set to close
- November 10, 2018

It's been hard to keep track of all the Sears stores closing over the past few years. Liquidation sales at the 40 additional closures, including in Grand Island are set to begin late next week. The new announcement shows Sears will no longer have a presence in Chicago , its longtime headquarters. The latest move affects 29 Sears locations and 11 KMart Locations. (more...)
Mortgage rates surge over the week
- November 10, 2018

The drop correlates with rise in the contract rate on a 30-year fixed loan from 5.11 percent to 5.15 percent last week. Ten years ago, a housing collapse contributed to a deep recession. Home borrowing costs rose last week in step with higher bond yields due to upbeat payrolls data last month which showed wages recording their largest annual gain in 9-1/2 years. (more...)
Japan's Toshiba to pull out of United Kingdom nuclear power project
- November 10, 2018

The project was set to have created thousands of jobs during the construction and operation stage and generated around seven per cent of the UK's energy needs. In a blow to the government's nuclear strategy, Toshiba, the Japanese conglomerate, said that it had chose to shut down its Nugen subsidiary, which was developing the Moorside project near Sellafield. (more...)
Fed announces rate hike decision Fed announces rate hike decision
- November 10, 2018

The Fed is slowly raising its base rate as the USA pulls away... "In view of realized and expected labor market conditions and inflation, the Committee chose to maintain the target range for the federal funds rate at 2 to 2 ¼ percent", the FOMC said in a statement . (more...)
QBiz: Govt-RBI Showdown; LPG Prices Hiked by Rs 2 & More QBiz: Govt-RBI Showdown; LPG Prices Hiked by Rs 2 & More
- November 10, 2018

As of June 2018, the total amount in these three types of reserves exceeded ₹9 trillion with more than ₹6.9 trillion in valuation reserves, RBI's annual accounts show. "The government stares at a fiscal-deficit crisis. There is no proposal to ask RBI to transfer ₹3.6 or 1 lakh crore, as speculated", he said. This comprises balances in Contingency Fund, Asset Development Fund (ADF), Currency and Gold Revaluation Account (CGRA), Foreign Exchange Forward Contracts Valuation Account (FCVA) and ... (more...)

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