Finance

Finance Argentina Central Bank hikes interest rate to 60%
Author: 0 Argentina Central Bank hikes interest rate to 60%

Argentina's Central Bank on Thursday increased its benchmark interest rate to 60 percent - the world's highest - in an effort to halt a sharp slide in the value of the peso, which plunged to a new record low. The Argentinian peso depreciated at a total of 40% when compared to the USA dollar this year. But that measure didn't stop the fall as the peso ended the day down 13.5 per cent.

Finance Trump threat to quit WTO over 'the worst trade deal ever made'
Author: 0 Trump threat to quit WTO over 'the worst trade deal ever made'

If the U.S. withdraws from the WTO, it would potentially have far more significance for the global economy than the escalating trade war with China. He has previously called the WTO a " catastrophe " that has treated the United States " very badly " for many years, and that the Geneva-based body will need to " change their ways ".

Finance Trump cancels pay raise due to federal workers in January
Author: 0 Trump cancels pay raise due to federal workers in January

Trump's call for a federal pay freeze was included in his budget proposal for 2019, the Office of Management and Budget said. President Trump wrote Thursday that federal agency budgets could not sustain a planned pay increase for most civilian employees.

Finance Coca-Cola expands into coffee with $5.1 billion deal for Britain’s Costa
Author: 0 Coca-Cola expands into coffee with $5.1 billion deal for Britain’s Costa

The Costa purchase is Coca-Cola's biggest push into operating stores, just as weak consumption in the United Kingdom leads a series of retailers such as BHS out of business. Whitbread had been in the process of demerging Costa from its hotel group Premier Inn, and the sale marks the latest transformation in a business that was established in 1742 as a brewer and which has also owned sports clubs and restaurants.

Finance Tesla driver charged after 100-foot jump caught on camera in Canada
Author: 0 Tesla driver charged after 100-foot jump caught on camera in Canada

An investigation found the vehicle went airborne over railroad tracks and came down in the oncoming lane more than 100 feet away before crashing into a tree. Both the people who were sitting in the vehicle were treated for minor injuries after crash-landing. Teslas are relatively heavy cars thanks to the electric battery, so it's safe to say that the vehicle's impressive acceleration capabilities did help the vehicle go airborne, though given the charges it appears that police are blaming ...

Finance Facebook Watch to be available worldwide: Here is everything to know
Author: 0 Facebook Watch to be available worldwide: Here is everything to know

Watch is a proper YouTube competitor and one of the ways YouTube attracts creators is being able to share revenues with them. Facebook's effort to become the new AOL with an all inclusive "internet" that keeps users within their website continues today with the global launch of Facebook Watch .

Finance TPG and Vodafone announce $15 billion merger to take on the competition
Author: 0 TPG and Vodafone announce $15 billion merger to take on the competition

The companies announced the merger to the ASX this morning, which if allowed to proceed would create a telco that services 22% of the fixed line market and 20% of mobile phones in Australia. The board will comprise the CEO and chairperson, existing TPG directors Robert Millner and Shane Teoh, two Vodafone nominees, two Hutchison Australian nominees, and two new independent directors.

Finance Cave diver prepares to sue Elon Musk over 'pedo' claim
Author: 0 Cave diver prepares to sue Elon Musk over 'pedo' claim

Bet he can expect that lawsuit this time . "So you actually did nothing & yet imply you are a truth-seeker", Musk said . Nelson wrote that she doesn't think she could cry in an interview, given the double standards that men and women face in the business world.

Finance 99.40% of demonetised notes returned: RBI
Author: 0 99.40% of demonetised notes returned: RBI

Which means, just a sum of Rs. 10,720 crore of the baned currency did not return to the banking system. "The huge task of processing and verification of Specified Bank Notes (SBNs) was successfully achieved", RBI said. The share of newly introduced Rs 200 banknotes in the total value of banknotes in circulation was 2.1 per cent as at end-March 2018. Besides, notes issued by the RBI in the one-year period between June 2017 and June 2018 increased by almost 27 per cent.

Finance Global stocks soar on US-Mexico trade breakthrough as Canada is sidelined
Author: 0 Global stocks soar on US-Mexico trade breakthrough as Canada is sidelined

Details of gains and concessions in the deal were only starting to emerge on Monday. -Mexican agreement , shrugging off Trump's threats that Canada might be frozen out and instead face auto tariffs. Senior administration officials also made clear on a call with reporters Monday afternoon that they were still pursuing a revised NAFTA trade agreement, though they maintained the possibility of a bilateral deal between the USA and Mexico if a trilateral deal with Canada can not be reached.

Finance New U.S.-Mexico trade agreement is hardly a done deal
Author: 0 New U.S.-Mexico trade agreement is hardly a done deal

Economist Paul Ashworth wrote in a note to clients on Monday afternoon. Trudeau spoke about the possibility of resolving a trade war last week, saying that he was "encouraged by the optimism expressed by the USA and Mexico", but added that "we also recognize that we will only sign a good deal for Canadians".

Finance Big oil calls proposed NAFTA agreement with Mexico encouraging
Author: 0 Big oil calls proposed NAFTA agreement with Mexico encouraging

The U.S. president extended an invitation to Ottawa to join what he cast as American-Mexican trade negotiations, which have stretched through the summer without Canadian officials at the table. Trump flipped states like Michigan, Pennsylvania, and OH from Democrat to Republican in 2016 by promising economic prosperity in part by improving trade deals.

Finance U.S. and Mexico Tentatively Set to Replace NAFTA With New Deal
Author: 0 U.S. and Mexico Tentatively Set to Replace NAFTA With New Deal

Adam Austen, spokesperson for Chrystia Freeland, Canada's minister of foreign affairs, said, "Canada is encouraged by the continued optimism shown by our negotiating partners". "[Monday's] announcement of a bilateral trade agreement is definitely good news for Mexico and the USA, but could be good or very bad for Canada", Paul Ashworth, chief U.S.

Finance Toyota pours $500M into self-driving cars tieup with Uber
Author: 0 Toyota pours $500M into self-driving cars tieup with Uber

Gill Pratt, Toyota Research Institute CEO and TMC Fellow. By expanding into autonomous vehicles, Uber also hopes to ward off a looming competitive threat from another early investor, Google and its self-driving auto spin-off Waymo, which is poised to launch its own ride-hailing service in Arizona before the end of this year.

Finance US, Mexico strike tentative NAFTA deal
Author: 0 US, Mexico strike tentative NAFTA deal

The U.S. -Mexico talks have been trying to make a breakthrough on the deal's automotive chapter, after talks to redefine what should constitute a tariff-free North American vehicle broke down prior to the Mexican presidential election in July.

Finance ON: Ryanair changes cabin bag policy AGAIN
Author: 0 ON: Ryanair changes cabin bag policy AGAIN

Others can opt to check their bag into the hold for free. Ryanair said this can cause delays of approximately 25 minutes. The changes will take effect from November 1, but will also apply to all bookings made from September 1. The budget airline said the changes were not about making money, but were meant to improve punctuality and reduce delays. It claimed most passengers will be unaffected by the changes, as 30 per cent already buy priority boarding and a further 30 per cent only ...

Finance 'Madden NFL 19' Livestream Tournament Shot Up in Jacksonville, FL
Author: 0 'Madden NFL 19' Livestream Tournament Shot Up in Jacksonville, FL

According to reports , multiple people are dead, including one suspect. A suspect involved in the shooting is dead. According to a news update that evening, he said the gunman, who reportedly killed himself after shooting multiple individuals, had been identified pending final confirmation from the Federal Bureau of Investigation.

Finance Fed officials ponder the yield curve signal
Author: 0 Fed officials ponder the yield curve signal

Strong Performance The Fed chairman said he expected the economy's "strong performance will continue" and as a result the Fed's "gradual process of normalization remains appropriate". Point Bridge Capital Founder Hal Lambert, IHT Wealth Management President Steve Dudash and Payne Capital Management President Ryan Payne on the report that President Trump isn't "thrilled" with Federal Reserve Chairman Jerome Powell for raising rates.

Finance Verizon slowed internet speed for first responders to fire
Author: 0 Verizon slowed internet speed for first responders to fire

He provided email correspondence as evidence. Despite the concern, this was not a net neutrality issue. Bowden initially made the comments as part of a court battle over the issue. "This was a customer support mistake", the statement said. Verizon has since said it will change its policies for public safety departments during emergencies.

Finance All the President's Men Are Flipping on Donald Trump
Author: 0 All the President's Men Are Flipping on Donald Trump

Weisselberg, working with another Trump Organization executive, helped arrange payments to Cohen that totaled $420,000. The news came hours after it was revealed that David Pecker , the owner of the tabloid National Enquirer that bought and killed negative or damaging stories about Trump, had also got immunity.

Finance U.S. oil extends gains as crude inventories fall
Author: 0 U.S. oil extends gains as crude inventories fall

Crude trading on Thursday resumed a posture more in keeping with previous weeks than in the past few days, with both benchmarks losing some ground due to China imposing 25 percent tariffs on USA products. In options activity, December 2018 puts for oil at $50 a barrel traded, though the volume was thin with just a few hundred contracts exchanged, said Bob Yawger, director of futures at Mizuho in NY.

Finance Longest bull market in history may still have room to run
Author: 0 Longest bull market in history may still have room to run

Today, the S&P 500 is at around 2,830, a 323 percent increase. The index rose as much as 0.57% to a record high of 2872.87 in afternoon NY trading, topping the previous record set on 26 January. That represents the bottom of the 1987 bear market that began on 8/25/1987 and culminated in the low on 12/4/1987 with the S&P 500 Index down 33.51%.

Finance Malcolm Turnbull lashes out at plotters as Scott Morrison becomes Australian PM
Author: 0 Malcolm Turnbull lashes out at plotters as Scott Morrison becomes Australian PM

Morrison won the Liberal leadership in a party room meeting on Friday, after the party voted to spill Malcolm Turnbull from the top job. The ruling Liberal-National coalition government has consistently trailed the opposition Labour party in opinion polls, but Turnbull has remained the voters' preferred prime minister over Labour leader Bill Shorten.

Finance Philip Hammond’s dire no-deal warning undermines Tory Brexit message
Author: 0 Philip Hammond’s dire no-deal warning undermines Tory Brexit message

Counterparts in the bloc have similar access to Britain and this cross-border network would be disrupted without a transition deal next March, leaving customers in the lurch. "If you [Dublin] are telling Northern Ireland businessmen you are stopping them trading across the border, then you tell them because the United Kingdom is not stopping it".

Finance Trump Organization CFO Allen Weisselberg granted immunity to testify
Author: 0 Trump Organization CFO Allen Weisselberg granted immunity to testify

Sharpening their legal and political defenses against the special counsel's Russian Federation probe , President Donald Trump's attorneys stressed Sunday, June 3, that they would contest any effort to force the president to testify in front of a grand jury but downplayed the idea that Trump could pardon himself.

Finance China using Iranian ships to avoid oil sanctions
Author: 0 China using Iranian ships to avoid oil sanctions

However, Shum did not expect the oil price to stay high for long as it would create economic headwinds, and noted that the oil price would eventually retreat to US$60 a barrel by end-2019. Oil has retreated more than 11 percent from the three-year high reached in June as concerns about the global economy grow, just as OPEC and its allies revive production.

Finance Article image South Africa inquiry into top-level state graft opens
Author: 0 Article image South Africa inquiry into top-level state graft opens

Zondo opened the first day of the inquiry, and said the response from the public on coming forward with evidence has been disappointing. Vytjie Mentor , The former ANC MP alleged she had been offered a cabinet post, the position of minister of public enterprises, by the Gupta family.

Finance The 'most hated bull market ever' rolls on
Author: 0 The 'most hated bull market ever' rolls on

The index's bull-market run is now 3,452 days old and, on Wednesday , will mark the longest such streak in history, at least for some market watchers. Shares of its industry peers PulteGroup, Lennar and D.R. Horton also rose between 3.8 percent and 5.5 percent. But shares of Coty Inc ( COTY.N ) tumbled 7.1 percent after the beauty products maker missed sales estimates for the first time in six quarters.

Finance Trump 'strongly suggests' anyone needing a lawyer pass on Cohen
Author: 0 Trump 'strongly suggests' anyone needing a lawyer pass on Cohen

He did not offer specifics. Mr. Cohen pleaded guilty to charges including campaign finance violations stemming from hush money payments to porn actress Stormy Daniels and ex-Playboy model Karen McDougal . The world is about to move on from collusion and toward conspiracy and financial crimes associated with the President's dealings with Cohen. Democratic leaders have sought to downplay the possibility of impeachment ahead of the midterm elections, fearing overreach that could cause ...

Finance Gold Hits 1-Wk High As Dollar Sags On Trump's Fed Attack
Author: 0 Gold Hits 1-Wk High As Dollar Sags On Trump's Fed Attack

Fed officials, including Mr. Powell, have long said they are gradually raising interest rates in order to balance the need to support economic growth - and the return of the economy to maximum employment - and guard against a rapid increase in inflation, which can occur when growth runs too hot with very low unemployment.

Finance Michael Cohen Enters Into Plea Agreement With Prosecutors
Author: 0 Michael Cohen Enters Into Plea Agreement With Prosecutors

Ellis declared a mistrial on 10 of the 18 counts, after the jury told him it could not reach a verdict on those charges. Manafort, who appeared jovial earlier in the day amid signs the jury was struggling in its deliberations, focused intently as the clerk read off the charges.

Finance Iran tells European Union to speed up efforts to save nuclear deal
Author: 0 Iran tells European Union to speed up efforts to save nuclear deal

On May 8, U.S. President Donald Trump pulled Washington out of the deal and vowed to reinstate sanctions against Tehran to make the latter "change behavior". The second phase will target Iran's oil industry, and Total had already said it would be impossible to remain in Iran unless it received a specific waiver from Washington, which was not granted.

Finance Trump ‘not thrilled’ with Fed chairman over interest rate hikes
Author: 0 Trump ‘not thrilled’ with Fed chairman over interest rate hikes

A Chinese central bank official said on Tuesday that China had taken note of the USA comments on the yuan, and said the two sides should communicate on the issue. As a result, the Federal Reserve decided in December 2015 to raise rates by a very small amount for the first time in a decade. "It would take approximately three or four more federal funds rate increases of a quarter of a percent to get into the range of this estimated neutral level", Kaplan wrote in the essay, which was ...

Finance Here's Why You Should Never Flush Your Contact Lenses Down The Toilet
Author: 0 Here's Why You Should Never Flush Your Contact Lenses Down The Toilet

A team of scientists from Arizona State University performed a deep investigation of how contact lenses break down, and ran surveys to determine how contact lens wearers are disposing of their lenses. "We found that there were noticeable changes in the bonds of the contact lenses after long-term treatment with the plant's microbes", says Kelkar. Rain could wash lenses into rivers and oceans, where they would float like tiny, tentacle-less jellyfish.