Business


Adani to Self Finance Troubled Carmichael Coal Mine | INN Adani to Self Finance Troubled Carmichael Coal Mine | INN
- December 01, 2018

It had projected production of 60 million tons of coal a year, but says now that it will peak at 27.5 million tons. The company had originally planned for its railway system to be standard gauge and 388 kilometers long, but switched up the design choice in September to speed up the project's completion and reduce capital costs; the new design also leverages existing rail infrastructure. (more...)
Trump threatens fresh tariffs in wake of GM plant closures Trump threatens fresh tariffs in wake of GM plant closures
- December 01, 2018

The US now has a 2.5 percent tariff on imported cars and sport utility vehicles from markets outside North America and South Korea. U.S. Trade Representative Robert Lighthizer said Wednesday that Trump ordered a new review on the auto trade war with China. (more...)
Donald Trump signs USMCA with Mexico and Canada at G-20 Donald Trump signs USMCA with Mexico and Canada at G-20
- December 01, 2018

The basic deal remains largely intact, with a few big changes, including the name. Trump did not refer to General Motors' recently announced plans to cut jobs at five American factories, four in the United States and one in Canada , but Trudeau did, calling it a "heavy blow ". (more...)
India’s GDP growth slows down to 7.1% in quarter ending September India’s GDP growth slows down to 7.1% in quarter ending September
- December 01, 2018

Despite recording slower GDP growth during the second quarter of the year, the country's growth rate remains ahead of China , which reregistered an 6.5 per cent growth during the July-September quarter. The growth in "Agriculture, Forestry and Fishing", "Mining and Quarrying", "Trade, Hotels, Transport, Communication and Services related to Broadcasting" and Financial, Real Estate and Professional Services is estimated to be 3.8%, -2.4%, 6.8%, and 6.3% respectively during this period. (more...)
US Senate delivers bipartisan rebuke to Trump's Saudi policy US Senate delivers bipartisan rebuke to Trump's Saudi policy
- December 01, 2018

Khashoggi, who lived in the USA and wrote for the Washington Post , was killed in the Saudi embassy in Turkey. It voted 63-37 to allow debate to proceed on the resolution, after Mike Pompeo, the Secretary of State, and Defence Secretary Jim Mattis failed to sway undecided senators to continue the military support for the war coalition. (more...)
United States stocks turn higher on Fed minutes; dollar recovers slightly United States stocks turn higher on Fed minutes; dollar recovers slightly
- December 01, 2018

Powell's comments briefly pushed the USA 10-year bond yield below the psychologically key 3 percent level earlier on Thursday, its lowest level since mid-September. The spread on euro-dollar interest rates future is negatively correlated with emerging markets as higher interest rates in the U.S. dim the appeal of risky assets. (more...)
Stocks markets surge on hint of slower rate hikes
- November 30, 2018

Speaking to the Economic Club of NY, the chairman also suggested that interest rates appear to be just below the level the Fed calls "neutral", where they are thought to neither stimulate growth nor impede it. Powell added the Federal Open Market Committee, which sets rates, will make policy decisions based on developing conditions, not through a predetermined plan. (more...)
USMCA: Trump Signs New Trade Agreement With Mexico And Canada
- November 30, 2018

A side letter to the September agreement showed that Mr Trump preserved the ability to impose threatened 25 per cent global tariffs on autos while largely exempting passenger vehicles, pickup trucks and auto parts from Canada and Mexico . (more...)
OPEC Expected to Cut Oil Output Despite Trump, Survey Shows OPEC Expected to Cut Oil Output Despite Trump, Survey Shows
- November 30, 2018

WTI fell to $50.42 per barrel on Friday, down 7.7 percent from $54.63 per barrel in the previous session. "If OPEC plus Russian Federation can not send a very strong message to the market, prices are poised to fall further, perhaps to Brent $50 per barrel and WTI of $40 per barrel or less". (more...)
Trump on tentative USMCA trade deal: 'Battles sometimes make great friendships' Trump on tentative USMCA trade deal: 'Battles sometimes make great friendships'
- November 30, 2018

Donald Trump , left, and Justin Trudeau in Buenos Aires, on November 30, 2018, on the sidelines of the G20 Leaders' Summit. The deal will require ratification by all three countries' legislatures before taking effect. 'The fact that this is an agreement in three languages adds to the level of technical complexity and it is on that level that we are just being sure that all the Is are dotted and all the Ts are crossed'. (more...)
Saudi prince in Argentina as G20 summit tensions brew Saudi prince in Argentina as G20 summit tensions brew
- November 30, 2018

This year's summit is the 10th anniversary of the first Leaders' Summit, which brought leaders of the world's 20 largest economies together during the global financial crisis, as well as the first to be held in South America. Emanuel Macron, France's president, is also slated for a meeting with the crown prince. The trilateral meet between India, the United States and Japan is an expansion of the bilateral talks between Trump and Abe. (more...)
Trump backs potential new auto import tariffs Trump backs potential new auto import tariffs
- November 30, 2018

GM hasn't responded to Trump's comments on subsidies specifically, but said in a statement on Tuesday that it would remain committed to "maintaining a strong manufacturing presence in the USA", pointing to more than $22 billion worth of investments in domestic operations since 2009. (more...)
Stock market may be 'over interpreting' Fed Chair Powell's speech Stock market may be 'over interpreting' Fed Chair Powell's speech
- November 30, 2018

Yet there is another central banker in the world who would happily swap places with Mr Carney. Back in August, Powell had rejected a too rigid reliance on an abstract guidepost like the neutral rate to shape policy, saying it could lead to costly mistakes. (more...)
Trump sends mixed messages on tariff negotiations with China Trump sends mixed messages on tariff negotiations with China
- November 30, 2018

President Donald Trump says the U.S.is "very close" to a deal with China on tariffs, but he adds that "I don't know that I want to do it". A 10 percent tariff on $200 billion of those goods is due to rise to 25 percent on January 1. Farmers in some USA states are being forced into plowing their crops under - effectively burying them under soil in fields - as there is not enough room to store them in storage facilities, and they are unable to sell their products thanks to Chinese tariffs, ... (more...)
Facebook 'has a black people problem,' fails black workers, ex-manager says Facebook 'has a black people problem,' fails black workers, ex-manager says
- November 30, 2018

Facebook said in July that 4% of its US workforce is black, an increase of 2% from the figure in 2014, when the company published its first workplace diversity report. 'On a personal note, at least two or three times a day, every day, a colleague at MPK [Facebook headquarters in Menlo Park] will look directly at me and tap or hold their wallet or shove their hands down their pocket to clutch it tightly until I pass. (more...)
Microsoft briefly ousts Apple as the most valuable company Microsoft briefly ousts Apple as the most valuable company
- November 30, 2018

Apple obviously was in no mood to lose it again to Microsoft but as its iPhone sales were not as par with the expectation, the tech giant finally met the defeat by slipping one position in the list of the top US-based company. That was when Apple said that it would not longer reveal how many iPhones it sells in a given quarter, leading analysts to speculate that unit sales were going to start trending downwards. (more...)
Audi e-tron GT concept previews eventual 590-hp Tesla fighter Audi e-tron GT concept previews eventual 590-hp Tesla fighter
- November 30, 2018

Audi's first battery-electric sedan made its debut at the LA Auto Show this week in concept form, following up on the reveal of the production-ready e-tron crossover weeks prior. The car's designers have deliberately chosen to use a number of sustainable materials which do not contain any animal-based products at all. The quattro all-wheel-drive system, with torque vectoring, is electronically coordinated, so there's no mechanical link existing between the front and rear axles. (more...)
German prosecutors raid Deutsche Bank offices amid investigations into tax havens German prosecutors raid Deutsche Bank offices amid investigations into tax havens
- November 29, 2018

Howard Wilkinson, the man who blew the whistle on a massive money laundering scheme through the Estonian branch of Denmark's Danske Bank , speaks during a hearing at the Danish parliament building Christiansborg Castle on Monday Nov. Investor worries have mounted over its role as a correspondent bank in the multi-billion-dollar money-laundering scandal at Danske, and Germany's markets regulator has taken the unprecedented step of appointing a monitor to oversee the firm's efforts to improve ... (more...)
WTI oil price slides under $50 per barrel WTI oil price slides under $50 per barrel
- November 29, 2018

The Minister of State for Petroleum Resources, Ibe Kachikwu has disclosed that the Federal Government would collaborate with Saudi Arabia to revamp Nigeria's refineries. The Saudi Minister said his visit to Nigeria today is highly imperative because Nigeria is an important player in the global oil market. Cooperation is required by all OPEC members. (more...)
Maple Leaf Foods Announces Consolidation Plans Maple Leaf Foods Announces Consolidation Plans
- November 29, 2018

Production from three of Maple Leaf's other plants will eventually be consolidated into the new facility, the company said. It will feature the latest advanced technologies to improve productivity, animal welfare, and the environmental sustainability of poultry production. (more...)
Tesla China Sales Plunge 70 Pct in October - Auto Industry Body Tesla China Sales Plunge 70 Pct in October - Auto Industry Body
- November 29, 2018

These sales stats are from October 2018. Update, 3:26pm: A Tesla spokesperson told The Drive that the claims referring to a 70-percent drop in sales are "wildly inaccurate" and "off by a significant margin". In response, on July 9 Tesla surged prices on Model X and S cars by 20 percent in China. Tesla imports all of the vehicles it sells in China, highlighting how the ongoing trade dispute between the United States and China is hampering the USA automaker, which is led by Elon Musk. (more...)
Brexit Impact Papers: How Much Would Each Deal Affect The Economy? Brexit Impact Papers: How Much Would Each Deal Affect The Economy?
- November 29, 2018

In the event of a disorderly no deal, Britain's Gross Domestic Product (GDP) could fall by 8%, according to the Bank's analysis. Its analysis - echoing separate Whitehall economic modelling of various Brexit scenarios - will be seized upon by ministers as they try to persuade Eurosceptic MPs to back Theresa May in next month's "meaningful vote" on her agreement with Brussels . (more...)
Bitcoin price drops below $5000 for the first time in Since 2017 Bitcoin price drops below $5000 for the first time in Since 2017
- November 29, 2018

Analysts attributed Monday's sell-off in Bitcoin to deterioration in market perception after it fell below $6,000 last week . When an overwhelming number of cryptocurrency investors thought it couldn't get any worse, it did. The cryptocurrency's value slumped more than a quarter in less than a week. "The selloff is related to enforcement, which is nearly certainly underway". (more...)
Binance Merging Stablecoin Market Binance Merging Stablecoin Market
- November 29, 2018

This replaces the previous 1:1 conversion on deposits and withdrawals. Binance has been increasingly adding stablecoins to its trading platform. This will aid conversion and ensure Bitfinex users are able to withdraw, deposit and trade Dollars and Euro in fiat and tether. It is clear that Binance is pushing for a new stablecoin market and that the exchange seems to be planning something, however, is it not yet clear what it is. (more...)
Oil Futures Plummet 7 Percent to Lowest Level In Over A Year Oil Futures Plummet 7 Percent to Lowest Level In Over A Year
- November 29, 2018

Brent crude (LCOc1) futures rose 21 cents to $60.69 a barrel by 11:21 a.m. EST (1621 GMT). They are causing oil prices to drop so quickly. A fall of that magnitude would cause budget pressure, however. It also embarked on an ambitious program to diversify away from oil known as Vision 2030 , an initiative championed by Crown Prince Mohammed bin Salman. (more...)
Cdn auto industry in peril Cdn auto industry in peril
- November 29, 2018

Ford says he asked GM in a phone call on Sunday whether there was anything the province could do to keep the plant open, and was told it could not. "The first thing I said is, 'What can we do?" "They're not closing our damn plant without one hell of a fight" said Jerry Dias, National President of Unifor. (more...)
Morgan Stanley, (NYSE: MS) Morgan Stanley, (NYSE: MS)
- November 29, 2018

BlackRock Inc. now owns 109,110,758 shares of the financial services provider's stock worth $5,171,848,000 after buying an additional 3,264,493 shares in the last quarter. Morgan Stanley (NYSE:MS) has average revenue estimates of $9.84 Billion, compared to low analyst estimates of $9.34 Billion and high estimates of $10.18 Billion for the current quarter. (more...)
Senate passes legislation to end rotating postal strikes Senate passes legislation to end rotating postal strikes
- November 29, 2018

Canada Post said Monday that the backlog of mail and parcels is "severe" and expected to "worsen significantly" once online orders from Black Friday and Cyber Monday sales are processed. Negotiations have been underway for almost a year, but the dispute escalated more recently when mail carriers and other postal workers launched rotating strikes October 22. (more...)
Rental Housing Market Grows Tighter As Demand Outstrips Supply, CMHC Says Rental Housing Market Grows Tighter As Demand Outstrips Supply, CMHC Says
- November 29, 2018

Rent increased in October 2.4 per cent from 2016 to 2017. The highest monthly rental cost for a two-bedroom apartment in the country was in Vancouver at $1,649, up 5.5 per cent from 2017. Within the province, the lowest vacancy rates were recorded in Vancouver (1%), Abbotsford and Mission (1%), and Victoria (1.2%). "Over the past year, increases in worldwide migration and youth employment, along with population aging, caused demand for rental housing to rise", CMHC said in its report. (more...)
Fourth-generation Mazda 3 debuts in Los Angeles Fourth-generation Mazda 3 debuts in Los Angeles
- November 29, 2018

With its new Skyactiv-Vehicle Architecture, Mazda claims to have incorporated the motion of people in motion, when walking or running, in the way that its whole vehicle architecture is set up, in everything from driving position to the suspension. (more...)

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