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Economy

More than a quarter of stocks on the Shanghai exchange fell by their 10 percent daily limit, according to Bloomberg, as the Shanghai Composite Index hit lows not seen since 2014. Stocks are opening modestly lower on Wall Street following volatile trading in Asia and Europe. Bets on market calm, measured by the number of contracts shorting futures for the CBOE Market Volatility Index.VIX compared to long contracts, are at a higher level than before the market correction, according to data ...
  • WTI near $68 as Iran sanctions bite into supply | Markets & Investment

    WTI near $68 as Iran sanctions bite into supply | Markets & Investment

    Economy

    Crude Oil WTI Futures for November delivery dropped 0.45% to $68.37 a barrel at 10:47PM ET (02:47 GMT), while Brent Oil Futures for November delivery also went down 0.63% to $77.56 per barrel. Iranian crude oil export loadings have declined by 580,000 bpd in the past three months, Bank of America Merrill Lynch analysts said in a note to clients.
  • Sadiq Khan claims London's police are preparing for

    Sadiq Khan claims London's police are preparing for "civil unrest" after Brexit

    Economy

    Speaking to BBC's Andrew Marr earlier today, he said: "Let me tell you the facts, which are that the police now are preparing for the possibility of civil unrest". Requirements for a "backstop" arrangement at the Irish border, contained in December's agreement between Mrs May and European Commission president Jean-Claude Juncker, would leave the United Kingdom a "vassal state" of the EU, the former foreign secretary warned.
  • Strawberry sabotage: WA not affected by needle contamination

    Strawberry sabotage: WA not affected by needle contamination

    Economy

    Contaminated strawberry products were distributed across Queensland , Victoria and New South Wales. A 21-year-old Burpengary man who bit into a strawberry with a needle inside it on Monday told The Courier Mail he ended up in hospital after swallowing part of it.
  • Amazon's Jeff Bezos unveils $2 billion philanthropic fund

    Amazon's Jeff Bezos unveils $2 billion philanthropic fund

    Economy

    Bezos said the Day 1 Family Fund would issue grants every year to groups and organizations that provide shelter and food to young families in need. Bezos said early childhood education is a critical area and that "the money spent there is going to pay very big dividends for decades".
  • Petrol Touches Rs.90.11 In This City

    Petrol Touches Rs.90.11 In This City

    Economy

    On Monday, the petrol per litre in Andhra Pradesh were sold at Rs ₹ 85.60 and diesel at Rs 79.22 per litre. Diesel was priced at Rs 77.47 per litre in Mumbai on Tuesday. AIMTC's Gupta adds, "If they wish they can make our lives easier, now the small farmers are failing to cope with the price revisions every day, we are heavily reliant on this fuel, the changing prices not being put under a uniform ambit are hurting us the most, there has to be a rollback urgently".
  • British Airways travelers' credit card details hacked

    British Airways travelers' credit card details hacked

    Economy

    The airline also made it clear that the stolen data did not include passport details. Cruz said the British Airways informed customers affected by the attack on Thursday and advised them to contact their bank or credit card provider and follow their recommended advice.
  • China's trade surplus with United States hit new record in August

    China's trade surplus with United States hit new record in August

    Economy

    Earlier speculation was that those tariffs , proposed in July, would take effect in early October, though trade associations have been gearing up for the announcement to come as early as the end of this week. "We want lower (trade) barriers across the board", Kudlow said. Washington has long criticised China's huge trade surplus with the United States and has demanded Beijing reduce it.
  • China's richest man Jack Ma will retire on Monday

    China's richest man Jack Ma will retire on Monday

    Economy

    Ma has been backing away from Alibaba over the past few years, stepping down as chief executive officer in 2013 but remaining very involved in the company's strategic planning, according to the Times . At events, he is often met with screaming fans. Previous year he met with US President Donald Trump, who described him as "smart" and "open minded".
  • Amazon joins $1 trillion club, on pace to overtake Apple

    Amazon joins $1 trillion club, on pace to overtake Apple

    Economy

    Amazon has impressed investors by successfully diversifying its business into virtually every corner of the retail industry, altering how consumers buy products and putting major pressure on many brick-and-mortar stores. Shares of the e-commerce giant gained about 2% in trading on Tuesday to hit an all-time high of $2,050.27. In the second quarter, AWS booked $6.1 billion in sales (up 49%), and generated an operating income of $1.64 billion (up 79%).
  • Ayanna Pressley wins Democratic primary- will become first Black congresswoman in MA

    Ayanna Pressley wins Democratic primary- will become first Black congresswoman in MA

    Economy

    Pressley is likely to become the first black woman elected to Congress from MA in November, since there are no Republican candidates in the race. Pressley was endorsed by Ocasio-Cortez, and has been profiled in several news outlets. Ayanna Pressley's reaction to her historic upset victory in a Democratic primary for a Massachusetts House seat quickly went viral on Tuesday. She joins a number of other black women who've won their primaries this year, including Stacey Abrams, who's running ...
  • Government absorbs September fuel price hike

    Government absorbs September fuel price hike

    Economy

    The recent slump in rupee also has lifted the import cost of crude oil, subsequently raising fuel prices. Diesel rates on Monday were hiked by 39 paise a litre, the steepest increase since the daily revision in prices was introduced in mid-june 2017.
  • China pledges to support Africa with Sh6Trn investment on development

    China pledges to support Africa with Sh6Trn investment on development

    Economy

    China will carry out 50 projects on green development and environmental protection in Africa, focusing on fighting climate change, desertification and wildlife protection, Xi said. Ramaphosa urged China to focus more on the nature of and quality of its investments in Africa and not just natural resources. In July 2001, a FOCAC ministerial consultation meeting was held in Lusaka, capital of Zambia , at which the Procedures for Follow-up Mechanisms of FOCAC were deliberated and adopted.
  • Canada pushes to save NAFTA dispute panels amid U.S. objection

    Canada pushes to save NAFTA dispute panels amid U.S. objection

    Economy

    He also must seek the support of Congress to pass such a change. "Keep calm and carry on with our current strategy of working Congress and the states, especially governors, and reminding USA business that we matter to each other", said Robertson, a vice-president and fellow at the Canadian Global Affairs Institute.
  • Ottawa loses key Trans Mountain court case, but pushes ahead with pipeline

    Ottawa loses key Trans Mountain court case, but pushes ahead with pipeline

    Economy

    He said the government was reviewing the decision "carefully" and considering its next steps and would respond "promptly and in a meaningful way" as the court requested. The fallout from the court's decision extended to the federal government's strategy to cut greenhouse gas emissions as Alberta Premier Rachel Notley pulled the province out of Ottawa's climate plan.
  • California Legislature Passes Bill That Would Increase Bar Hours

    California Legislature Passes Bill That Would Increase Bar Hours

    Economy

    The legislation, if signed into law by Gov. The bill would prohibit internet providers from blocking or slowing data based on its content or from favoring websites or video streams from companies that pay extra. Ajit Pai, the FCC chairman appointed by President Donald Trump , pitched the repeal as a way to stop the federal government from "micromanaging the internet".
  • Coca-Cola buys British coffee chain Costa for $5.1 billion

    Coca-Cola buys British coffee chain Costa for $5.1 billion

    Economy

    The board of British multinational Whitbread have unanimously agreed to a £3.9bn takeover of its Costa Coffee subsidiary by Coca-Cola, as it prioritises growth at its Premier Inn brand in the United Kingdom and Germany. Costa doesn't now have a presence in North or South America, but Quincey indicated that one potential early expansion route would be to use Costa's vending operation and grow the company's ready-to-drink products.
  • 99.3% Of Demonetised Currency Back In System: RBI Report

    99.3% Of Demonetised Currency Back In System: RBI Report

    Economy

    While overall detection of counterfeit notes was 31.4% lower than the previous year, this was because of a decrease in fake Rs 500 and Rs 1,000 notes, which were of course banned in November 2016. Verification and process of the SBNs has been completed. It was supposed to flush out black money and end corruption . But the goal posts kept shifting in the weeks and months since with the government citing several reasons to demonetise high value notes such as to choke terror funding, ...
  • Tesla shares slip after company decides to stay public

    Tesla shares slip after company decides to stay public

    Economy

    Tesla will stay public , Elon Musk said late on Friday, ending more than two weeks of speculation and calculation about how much a go-private deal would cost and who could be involved in it. Musk's plans for Tesla are reportedly being scrutinized by the SEC, especially in the "funding secured" part of his shock announcement on Twitter .
  • Oil edges up on Iran sanctions, but US-China row mutes trading

    Oil edges up on Iran sanctions, but US-China row mutes trading

    Economy

    Energy Information Administration could make or break the rally. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $68.24 per barrel, up 41 cents, or 0.6 percent. According to the Weekly Petroleum Status Report, U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 5.8 million barrels during the week ending August 17.