• US, China declare 90-day halt to new tariffs after Summit meet

    US, China declare 90-day halt to new tariffs after Summit meet

    Economy

    Earlier on Saturday, the leaders of all the world's top economies called for reforms to the crisis-stricken World Trade Organization in a final statement from their summit. Growing concerns that the trade war would increasingly hurt corporate earnings and the USA economy are a key reason why United States stock prices have been sinking this fall.
  • Donald Trump Hopeful of G20 U.S.-China Trade Deal

    Economy

    With nationalist sentiments rising in multiple countries, the G20 is being forced to questions how to deal with trade tensions that have caused disturbances in the global market. But tensions have eased since then, with Secretary of State Mike Pompeo assuring that the United States is not seeking a new Cold War and USA and Chinese trade officials swapping a lengthy list of items up for discussion.
  • Fed's Powell, in apparent dovish shift, says rates near neutral

    Fed's Powell, in apparent dovish shift, says rates near neutral

    Economy

    Until now, strong economic data and new fiscal stimulus made the central bank more determined to gradually lift rates to neutral because the economy is expanding solidly and unemployment continues to fall. "If you look down the road, you see challenges ahead, and they're challenges that are typical in a cycle", said Powell speaking earlier this month at the Federal Reserve Bank of Dallas.
  • Oil Price Sustains Gain As Brent Crude Rises To $59.36 Per Barrel

    Oil Price Sustains Gain As Brent Crude Rises To $59.36 Per Barrel

    Economy

    A rise in USA crude supply, alongside a refusal by Saudi Arabia to reduce its output, sent Brent crude , the global index, to another 2018 low below $58 a barrel. USA crude stockpiles rose last week, the American Petroleum Institute (API) industry group said on Tuesday. Libya's current oil production is 1.266 million barrels a day, according to Bloomberg calculations based on data from people with knowledge of the situation.
  • New Tariffs Could Hit Laptops, iPhones, Trump Says

    New Tariffs Could Hit Laptops, iPhones, Trump Says

    Economy

    Trump has already imposed tariffs on more than $250bn in Chinese goods - about half of the total imported each year - in an attempt to pressure the country to change its trade rules. Separately, Chinese ambassador to the US Cui Tiankai said in an interview with The Wall Street Journal that he hoped the Xi-Trump meeting could "give us clear strategic guidance on where the relationship is going" and make progress in resolving the trade row.
  • Trump 'very disappointed' with General Motors after plant closures

    Trump 'very disappointed' with General Motors after plant closures

    Economy

    Barra said that the goal was to make the company more efficient. GM's stock price surged on the heels of the announcement , closing at 37.65, up almost 5 percent on the day. "That's what we're working towards", Foreign Affairs Minister Chrystia Freeland said Tuesday. We want to make sure we're well-positioned. His tweets cited his disappointment with GM CEO Mary Barra and also referred to the 2008 government bailout of the U.S.
  • GM to close Canadian plant, but that's just the beginning

    GM to close Canadian plant, but that's just the beginning

    Economy

    Sales for all GM cars and trucks declined 11 percent year over year, with the company blaming the impact of hurricanes. GM expects to record pretax charges of $3 billion to $3.8 billion related to these actions, including up to $1.8 billion of noncash accelerated asset write-downs and pension charges, and up to $2 billion of employee-related and other cash-based expenses.
  • The US is warning other countries against using Huawei's 5G tech

    The US is warning other countries against using Huawei's 5G tech

    Economy

    The battle begun in 2012 when U.S. policymakers considered both Huawei and ZTE to be threats for National Security. A spokesperson for the Department of Commerce said in an emailed statement the agency "will remain vigilant against any threat to USA national security and continues to diligently implement the settlement agreement with ZTE".
  • Stocks Crushed: Dow Falls 550 Points, Retail and Tech Wrecked

    Stocks Crushed: Dow Falls 550 Points, Retail and Tech Wrecked

    Economy

    Some market watchers have said the fall has been exacerbated by light trading volumes this week ahead of Thursday's Thanksgiving holidays when markets will be closed. It fell 6.6 percent on Tuesday. Brent crude, the global standard traded in London, rose 1.5 per cent to $63.48 a barrel. Exxon Mobil jumped 1.7 percent to $78.31 and Chevron rose 2.5 percent to $119.06.
  • These are the terms of the truce between the RBI & Modi govt

    These are the terms of the truce between the RBI & Modi govt

    Economy

    While there was no official word on the deliberations at the meeting that lasted almost nine hours, the government and Gurumurthy have been pressing the central bank to provide more liquidity to non-banking finance companies (NBFCs), ease lending rules to small businesses, relax norms for weak banks and part with more of RBI's surplus reserves to boost the economy.
  • U.S. crude oil inventories drop slightly last week: API

    U.S. crude oil inventories drop slightly last week: API

    Economy

    The S&P 500 hit a three-week low on Tuesday as weak results and forecasts from big retailers fanned worries about holiday season sales, while tech stocks continued to slide on concerns about iPhone sales. Fiona Cincotta, senior market analyst at City Index, said yesterday: 'Fears of slowing global growth are fuelling concerns over global demand, just at a time when Saudi Arabia , Russia and the U.S.
  • Belk, JCPenney among best places to find Black Friday discounts

    Belk, JCPenney among best places to find Black Friday discounts

    Economy

    Target is also a pretty popular place during Black Friday, and it's easy to see why. Arizonans' next best bet is JCPenney, which offers a 65 percent average Black Friday discount. Deals the company is highlighting include the new Echo Dot for $24, 40% off on toys from Mattel, 40% off apparel and shoes from Adidas, 25% off Amazon Basics items, and $100 off an Xbox.
  • Banks and housebuilders fall sharply as Raab resigns over Brexit deal

    Banks and housebuilders fall sharply as Raab resigns over Brexit deal

    Economy

    Late Thursday, May announced she would hold another press conference this evening - with speculation she would have to address the growing rebellion against both the deal and her prime ministership, or even call a snap general election. On the issue of the border in Ireland, May said the withdrawal agreement has set out an insurance policy should a permanent new UK-EU relationship not be ready by the time the implementation period ends at the end of 2019.
  • Qorvo joins other Apple suppliers in cutting forecast

    Qorvo joins other Apple suppliers in cutting forecast

    Economy

    Apple iPhone XR shipment forecast slashed by analyst Ming-Chi Kuo, due to weak demand. With a handful of key suppliers offering warning signs of lower order requests from a major supplier , many on the Street are becoming more cautious on Apple stock, doubting that higher average selling prices (ASP ) can offset a slowdown in iPhone demand.
  • Major oil producers to consider cuts after price slide

    Major oil producers to consider cuts after price slide

    Economy

    Saudi Arabia's energy minister said oil-producing nations should cut output by one million barrels per day to re-balance the market. All three own refining businesses that give them a natural hedge when prices crash. The committee that oversees the 2016 OPEC+ agreement to manage supply met Sunday in Abu Dhabi . Over the weekend, the US stopped its refueling support for the Saudi-led coalition fighting against Houthi rebels in Yemen.
  • Midterm exit polls show healthcare and immigration are top issues for voters

    Midterm exit polls show healthcare and immigration are top issues for voters

    Economy

    And they appear particularly motivated to vote. Whatever the outcome, Trump made clear he knew his political future was on the line. Here is a dummies guide. The party will therefore need to keep all 26 their seats and gain two seats to take control of the Senate - a tall order. With a House majority, Democrats will have the power to investigate Trump's tax returns and possible conflicts of interest, and challenge his overtures to Saudi Arabia, Russia and North Korea.
  • Fast facts about the United States elections, seen as referendum on Trump

    Fast facts about the United States elections, seen as referendum on Trump

    Economy

    Increased representation of Democrats at the polls also contributed to Democratic victories in the House . Lastly, the President talked to Sen. Democrats quickly made important gains in the House , but Republicans defended in crucial races, like incumbent Andy Barr of Kentucky, whose House seat had seemed at risk.
  • As US sanctions resume, Iran starts annual air defense drill

    As US sanctions resume, Iran starts annual air defense drill

    Economy

    Thousands of Iranians rallied in Tehran on Sunday to mark the 39th anniversary of the U.S. Embassy takeover, as Washington restored all sanctions lifted under the nuclear deal. The UK, Germany and France - which are among the five countries still committed to the nuclear pact - have all objected to the sanctions, the BBC said.