Finance

Finance Qatar announces pullout from OPEC in 2019
Author: 0 Qatar announces pullout from OPEC in 2019

The decision was "technical and strategic" and had 'nothing to do with the blockade, ' he said. According to OPEC, Qatar produced only about 1% of OPEC member states' total output of petroleum in October 2018, the most recent month for which there is data.

Finance World waits to see if Trump, Xi reach 'ceasefire'
Author: 0 World waits to see if Trump, Xi reach 'ceasefire'

Saturday's meeting could be the first step toward easing trade tensions between the US and China . The two-and-a-half-hour dinner shared by Xi Jinping and Donald Trump in Argentina, where they repeatedly emphasized their great friendship, has ended with an apparent "trade truce" but no immediate tangible results or declaration.

Finance US Fed says another rate hike
Author: 0 US Fed says another rate hike "likely to be warranted fairly soon"

His remarks on Wednesday were a distinct shift in tone from early October, when the Fed chairman suggested the central bank might go "past neutral, but we're a long way from neutral at this point, probably". Mr. Powell's October remark came during an unscripted moment at a moderated discussion in Washington. A few officials expressed concern about rates moving too high too quickly.

Finance Microsoft briefly beat Apple to become world's most valuable tech stock
Author: 0 Microsoft briefly beat Apple to become world's most valuable tech stock

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. Apple's valuation has been in a freefall since passing the $1-trillion mark in August , and shares have fallen 22 percent after the issuance of relatively weak first-quarter guidance and despite Cupertino's Q4 earnings beat.

Author: 0 What is the G20 summit and why does it matter?

Argentina's leader thanked President Trump for his visit and for his support of the South American nation. Beijing hopes to persuade Trump to abandon plans to increase tariffs on $200 billion of Chinese goods to 25 percent in January, from 10 percent at present.

Finance Economists, Wall Street split on Federal Reserve rate signals
Author: 0 Economists, Wall Street split on Federal Reserve rate signals

But policymakers also say they may soon begin to give the public fewer clues about their plans, striking language from future statements about "further gradual increases" and instead keeping a close eye on developments in the economy. Stock markets began a broad descent toward a correction - a decline from the most recent peak of at least 10 percent - in early October, just after Powell had sounded a quite confident tone on the economy.

Finance Petrol prices in India slide further as crude gets into $50 range
Author: 0 Petrol prices in India slide further as crude gets into $50 range

Oil prices bounced back to $51/bbl in NY, erasing an earlier loss, after a report that Russian Federation accepts the need to cut production in conjunction with OPEC . "As Saudi Arabia we can not do it alone, we will not do it alone", he told reporters in Abuja where he met his Nigerian counterpart Emmanuel Ibe Kachikwu.

Finance President Trump Signs New Trade Pact With Canada, Mexico
Author: 0 President Trump Signs New Trade Pact With Canada, Mexico

A Mexican source said that "the legal review, translations and collation of documents are being concluded", but ruled out important changes. While Canadian Foreign Affairs Minister Chrystia Freeland will be at the event, the three leaders will sign the deal.

Finance Dow up 600 points as Fed chief says interest rates near neutral
Author: 0 Dow up 600 points as Fed chief says interest rates near neutral

The Fed's current pattern of raising rates gradually - roughly once a quarter over the past two years - is an effort to balance two risks. The report aims to put on public display twice a year what the central bank is watching and how those parts of the market are behaving.

Finance Why Trump is talking about a 'chicken tax'
Author: 0 Why Trump is talking about a 'chicken tax'

Trump said the USA could use a measure similar to its 25% tariff on light trucks, known as the "chicken tax," to prevent factory closings similar to General Motors' recent announcement. The plant already employs 10,000 workers. As of October, there were roughly 382,000 U.S.jobs in the manufacturing of primary metals such as steel, down from 622,000 jobs in 2000.

Finance Deutsche Bank DBK share price falls as offices raided by police
Author: 0 Deutsche Bank DBK share price falls as offices raided by police

Several other institutions besides Deutsche Bank have been fined by authorities in the US and Europe for not properly checking up on the beneficial owners of shell companies that send money through their accounts. British banking authorities said at least 29 Deutsche Bank employees were involved in the scam, while United States regulators ordered the bank to fire seven employees, including directors and vice-presidents.

Finance As crucial US-China talks loom, Trump may be better placed
Author: 0 As crucial US-China talks loom, Trump may be better placed

The U.S. Trade Representative "has been teeing up protection (probably export restraints) for over a year, as shown by the side letters exchanged in the USMCA process", Mary Lovely of the Peterson Institute for International Economics told CBS MoneyWatch in an e-mail.

Finance Senate passes legislation to end country-wide Canada Post strikes
Author: 0 Senate passes legislation to end country-wide Canada Post strikes

Executive Director of External Affairs at MUNSU, Bailey Howard says it is disappointing to see the Trudeau government infringe on the workers' right to strike by legislating them back to work. Johnson pointed out that back-to-work legislation isn't resolving any of the real demands postal workers are making at the bargaining table. It will ultimately be up to the courts to decide whether the legislation is constitutional, Labour Minister Patty Hajdu said on her way into a morning meeting ...

Finance Microsoft snags $480m US Army hardware contract - Audio Visual
Author: 0 Microsoft snags $480m US Army hardware contract - Audio Visual

The terms of the contract could see the US military deploying 100,000 of the company's AR headsets. Microsoft beat out augmented reality company Magic Leap , among others. Immigrations and Customs Enforcement (ICE). The U.S. Army and the Israeli military have already used Microsoft's HoloLens devices in training, but plans for live combat would be a significant step forward.

Finance GM workers have uncertain road ahead after plant closures, layoffs announced
Author: 0 GM workers have uncertain road ahead after plant closures, layoffs announced

GM CEO Mary Barra said the company is no longer focusing on the sedans and trucks manufactured in Oshawa. Union leaders are scheduled to meet with Prime Minister Justin Trudeau in Ottawa on Tuesday afternoon. GM, she said, was acting completely disorganized and the communication all round had been poor. However, there are some legitimate concerns about what kind of ripple effect the Oshawa closure will have on the industry.

Finance Don't expect big interest rate hikes, Fed chief Powell says
Author: 0 Don't expect big interest rate hikes, Fed chief Powell says

Trump on Tuesday again blasted his hand-picked chief of the U.S. central bank, saying he was "not even a little bit happy" with his selection of Powell. Elsewhere, Indonesia's rupiah climbed as the nation's central bank said it will provide room for the currency to keep strengthening in line with market mechanisms.

Finance New Tariffs Could Raise Console Prices in the US
Author: 0 New Tariffs Could Raise Console Prices in the US

The issue is the biggest looming over Trump's visit to Argentina, with the two economic giants locked in exchanges of punitive tariffs and Washington effectively threatening to impose sanctions on all remaining Chinese imports, including Apple products made in China .

Finance Microsoft briefly tops Apple as most valuable company
Author: 0 Microsoft briefly tops Apple as most valuable company

Over the last few years, however, Microsoft has turned into a tech juggernaut again as its Windows 365 "cloud subscription" model has worked to perfection. Considering that not long ago Apple (and Amazon not too long after) broke $1 trillion valuation, it has come a long way down since then, due in part to Apples latest (and most expensive) smartphones (XR, XS, XS Max ) not selling as well as anticipated.

Finance Bank says customers can keep $100 bills after ATM mistake
Author: 0 Bank says customers can keep $100 bills after ATM mistake

Well the vendor accidentally put & 100 bills in place of $10 bills. Word quickly spread on social media, causing people to line up outside of the bank. We have resolved the matter. The ATM was temporarily shut down after officials arrived at the scene. Bank of America said yesterday, November 26 that they were aware of the cash machine error in Houston, as reported by KPRC-TV on the same day.

Finance General Motors to slash 14,700 jobs in North America
Author: 0 General Motors to slash 14,700 jobs in North America

GM shares were trading around $37.78 as of 3:35 ET on Monday. Interested in General Motors? GM will stop making the Chevrolet Cruze , the Chevrolet Volt plug-in hybrid, and large sedans including the Chevrolet Impala, Buick LaCrosse and Cadillac CT6.

Finance Saudi Arabia Pumps All-Time Record Amount of Oil Amid Pressure From Washington
Author: 0 Saudi Arabia Pumps All-Time Record Amount of Oil Amid Pressure From Washington

King, a member of the Senate Intelligence Committee, said in an appearance on CBS' "Face the Nation" that "you don't have to be the CIA to put things together and say how could this happen without the prince being involved". "The crown prince's attendance at the G20 Summit in Buenos Aires could make the Argentine courts an avenue of redress for victims of abuses unable to seek justice in Yemen or Saudi Arabia".

Finance European Union court rejects Britons' anti-Brexit case
Author: 0 European Union court rejects Britons' anti-Brexit case

The last big obstacle to a deal was overcome on Saturday, when Spain lifted its objections over the disputed British territory of Gibraltar. Both Remainers and Leavers in the British Parliament are warning that May doesn't have the necessary support with the all the opposition parties lined up against the deal and as many as 100 lawmakers, Remainers and Leavers among them, from May's ruling Conservatives pledging to vote against it as well.

Finance Bitcoin drops below $4000 as the crypto market takes another hefty beatingNaija247news
Author: 0 Bitcoin drops below $4000 as the crypto market takes another hefty beatingNaija247news

The digital currency space is an unpredictable one yet the year-long descending pattern has been steady and persistent leaving numerous to ponder where and when a portion of these best cryptocurrency settle down. Price is now testing this resistance and is deciding whether to make a bounce or a break. On the backside, things look a bit dreary as there are solid foundations between now and $145, but after that things begin looking slimmer.

Finance Oil prices sink on supply glut fears
Author: 0 Oil prices sink on supply glut fears

At the same time, the world's biggest exporter will respond to demand for oil and won't oversupply the market , he told reporters on Thursday at the mining complex of Wa'ad Al Shamal in northwestern Saudi Arabia . "Thank you to Saudi Arabia, but let's go lower!" he wrote in a tweet on Tuesday. "Oil dropped, and some of the numbers from Europe have been a little weak", said John Carey, managing director and portfolio manager at Amundi Pioneer Asset Management in Boston.

Finance Liberals pass fast-tracking motion on Canada Post back-to-work bill
Author: 0 Liberals pass fast-tracking motion on Canada Post back-to-work bill

McAlister says the decline in donations puts a strain on the 1.7 million people the charity helps annually. "Free collective bargaining is a Charter right in this country and it's time the governments respect it", he said. Today's move comes as Prime Minister Justin Trudeau told the House of Commons Wednesday that the government is encouraging both sides to reach a deal, but was prepared to act if there is no "significant progress".

Finance Why You Should Not Eat Romaine Lettuce
Author: 0 Why You Should Not Eat Romaine Lettuce

In the US, 199 people were infected and three died, according to the CDC. However, no deaths have been reported. People are advised to throw out any romaine lettuce as well as open produce that may have touched it. "FDA continues to investigate source of e.coli outbreak traced to Romaine". No recall notice means it's up to shops decide if they'll offer a product suspected to be the source of the E.

Finance Black Friday Shoppers Flood Ross Park Mall In Search Of Deals
Author: 0 Black Friday Shoppers Flood Ross Park Mall In Search Of Deals

There are many theories about how the annual shopping frenzy got its nickname; one is because it's when retailers supposedly finally turn a profit, or "go into the black ", for the full year. The technology giant believes that online spending is track to hit $6.4 billion by the end of the day. Authorities have not said whether the incident was related to Black Friday shopping or if it stemmed from an unrelated dispute.

Finance Flybe confirms Virgin Atlantic as a suitor
Author: 0 Flybe confirms Virgin Atlantic as a suitor

Virgin Atlantic , which is owned by Richard Branson's Virgin Group and United States airline Delta Air Lines , mainly runs flights from the United Kingdom to the US. The company announced a change of leadership in June, with Craig Kreeger due to step down next month as its chief executive after almost six years at the helm.

Finance Amazon asked Spanish police to intervene in warehouse strike
Author: 0 Amazon asked Spanish police to intervene in warehouse strike

The tech giant says it has created 75,000 jobs throughout Europe in the last eight years, and that it provides "good jobs with highly competitive pay, full benefits and innovative training programs". Germans are expected to buy about 2.4 billion euros ($2.7 billion) worth of goods on Black Friday and Cyber Monday, an increase of about 15 percent over past year.

Finance Spain to back Brexit deal after United Kingdom agrees to Gibraltar terms
Author: 0 Spain to back Brexit deal after United Kingdom agrees to Gibraltar terms

Later, he tweeted words from Freddie Mercury, frontman of band Queen, who died on this day 27 years ago: "Friends will be friends, right till the end". "If people are looking to Dublin for representation in Europe because we're the subject of EU rules that is so risky in terms of the union ..." They also have to determine the a declaration on the future relationship between London and Brussels .

Finance Tesla lowers auto prices by 26% to woo buyers
Author: 0 Tesla lowers auto prices by 26% to woo buyers

It's a change from July when Tesla hiked prices ton its Model X and S cars by about 20%. Tesla, which recently launched pre-sales of the Model 3 in China, added in its statement that the car's price would start from 540,000 yuan ($77,928.83) for a dual motor all-wheel drive version, and 595,000 yuan for a performance version.

Finance United States asks allies to shun Huawei equipment
Author: 0 United States asks allies to shun Huawei equipment

Stocks with notable revenue exposure to China's Huawei Technologies Co . showed little effect from a report that the Trump administration was urging key allies to avoid using the company's equipment. Huawei declined to comment to the Wall Street Journal on the US's government efforts. In response to the report, Huawei said, "If a government's behavior extends beyond its jurisdiction, such activity should not be encouraged".

Finance Carlos Ghosn Fired as Nissan Chairman Following Arrest
Author: 0 Carlos Ghosn Fired as Nissan Chairman Following Arrest

Kukimoto also said that Ghosn is being held at the Tokyo Detention Center and that the Tokyo District Court on Wednesday approved detaining Ghosn for 10 days. Ghosn, known as a savage cost-cutter, helped save Nissan from near bankruptcy after he was sent to the company by Renault and became chief operating officer in June 1999, three months after the French and Japanese carmakers forged a capital alliance.

Author: 0 Oil hits lowest in a year on concerns of rising global surplus

But the anticipated cuts have done little so far to prop up the price. "It has been a brutally bearish trading week for oil prices with Brent Crude and WTI oil both crashing to a fresh yearly low. Oil production has surged this year with the International Energy Agency predicting non-OPEC output alone to rise by 2.3 million barrels per day this year.

Finance Dolce & Gabbana pulls Shanghai show amid controversies in China
Author: 0 Dolce & Gabbana pulls Shanghai show amid controversies in China

As social media gives them a megaphone, brands ranging from LVMH's Christian Dior to Daimler AG's Mercedes-Benz to apparel chain Gap Inc. have been tripped up. Dolce & Gabbana cancelled a long-planned fashion show in Shanghai on November 21 after an outcry over racially offensive posts on its social media accounts, a setback for the company in the world's most important luxury market.

Finance Damian Hinds: MPs don't need to 'love every line' of Brexit deal
Author: 0 Damian Hinds: MPs don't need to 'love every line' of Brexit deal

Despite the prime minister's repeated claims that opposing her withdrawal agreement would cause the United Kingdom to crash out of the European Union without any deal at all, the new work and pensions secretary suggested that it was more likely that there would be no Brexit at all.

Finance Shoppers line up for pre-Black Friday deals
Author: 0 Shoppers line up for pre-Black Friday deals

To combat the growing lines of people willing to sacrifice sleep and warmth, Old Navy has joined the choir of retailers who have chose to disrespect the Thanksgiving Day tradition and open their stores on Turkey Day. Retailers, eager to get an even earlier jump on the holiday shopping season, have in recent years begun to open their doors on Thanksgiving Day. Video from a shopper and FOX 8 viewer showed the long lines inside the store, soon after it opened at 2:00 Thanksgiving afternoon.

Finance Wall Street continues dive, setting up ASX for sharp losses
Author: 0 Wall Street continues dive, setting up ASX for sharp losses

Electronic screen shows the closing numbers of stock market at the New York Stock Exchange in New York, the United States, Nov. 20, 2018. The S&P 500 ended higher on Wednesday after a brutal two-day selloff, led by a rebound in energy and technology shares, but the market faltered towards the session's end as Apple shares surrendered gains ahead of the Thanksgiving holiday.