Business

Saudi Arabia shows attack site damage as Iran pledges tough defence

Saudi Arabia shows attack site damage as Iran pledges tough defence Both the Saudis and USA officials have rejected claims from Yemen's Iran-backed Houthi rebels that they were responsible for the attack and instead note satellite pictures indicate the attack came from the north, originating either from Iran or from a vessel in the Persian Gulf. [Full Article...]

Sensex zooms after Nirmala Sitharaman's Rs 1.45 lakh crore tax booster announcement

Sensex zooms after Nirmala Sitharaman's Rs 1.45 lakh crore tax booster announcement The effective rate, including all additional levies, will be 25.2% and applicable on companies that aren't availing any incentives or exemptions. Banks would be encouraged to include new retail customers for lending, she said. Sitharaman told reporters that the new rates would be "comparable with the lowest tax rates in South Asian region and in South East Asia". "After the exercise of the opt... [Full Article...]

Saudi Arabia Reveals Damage to Giant Khurais Oil Field

Saudi Arabia Reveals Damage to Giant Khurais Oil Field Iran denies being involved in the attack and its foreign minister warns any retaliatory strike on it by the USA or Saudi Arabia will result in " an all-out war ". "It is my job to provide military options to the president should he decide to respond with military force", Dunford said. A return to the company's full 12 million-barrel-a-day capacity is unlikely before the end of November, Prince A... [Full Article...]

Trump holds 'constructive' White House meeting with Mark Zuckerberg

Trump holds 'constructive' White House meeting with Mark Zuckerberg Facebook didn't share anymore details about what Zuckerberg discussed with Trump . During his visit, Zuckerberg also met with other senators including Mark Warner, D-Va., vice chairman of the Senate Intelligence Committee, Mike Lee, R-Utah, a senior member of the Judiciary Committee, and John Cornyn, R-Texas, and Tom Cotton, R-Ark. [Full Article...]

Aramco attacks had 'zero' impact on Saudi revenue - minister

Aramco attacks had 'zero' impact on Saudi revenue - minister He spoke a day after Energy Minister Prince Abdulaziz bin Salman said the kingdom will restore lost oil output by the end of September and has managed to restore supplies to customers to the levels they were at prior to the attacks. Dozens of bankers from Citigroup to JPMorgan Bound descended on the center of Dubai's monetary district on Thursday for the kickoff assembly at the opulent Ritz Carlto... [Full Article...]

USA to confront China on Uighurs at United Nations

USA to confront China on Uighurs at United Nations Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Vice Premier Liu He in October in Washington . A trade adviser to Donald Trump has said the us president is ready to escalate the ongoing trade war with China if a trade deal is not agreed soon, the South China Morning Post reported on Thursday. [Full Article...]

Apple slams European Union as epic court battle over tax bill begins

Apple slams European Union as epic court battle over tax bill begins That's nearly €3,000 per Irishman, according to Süddeutsche Zeitung. Apple is contesting a 2016 order by European Competition Commissioner Margrethe Vestager to pay back €13bn in taxes to Ireland, which was considered an illegal tax exemption. [Full Article...]

National Cheeseburger Day: Where Is The Best Burger In Twin Falls

National Cheeseburger Day: Where Is The Best Burger In Twin Falls Dairy Queen: Take advantage of their new "Two for $4 Super Snack" meal deal, where you can mix and match any two options, including a cheeseburger, as well as fries, pretzel sticks, chicken strips, a soft drink, and a small sundae. Learn more at www.redrobin.com/national-cheeseburger-day. Feeling up to the challenge? September 18 is National Cheeseburger Day and restaurants are celebrating th... [Full Article...]

California public health officials report seventh vaping-related death

California public health officials report seventh vaping-related death Medic Christopher Mackie told a news conference that the London, Ontario high school student, who vaped daily, was admitted to a local hospital intensive care unit, but has since recovered. Another death related to vaping was identified on September 6 by health officials in Indiana . A California man has died from an illness related to e-cigarette use - the seventh person suspected to have di... [Full Article...]

Claim By Yemeni Rebels Over Saudi Oil Attacks "Lacks Credibility"

Claim By Yemeni Rebels Over Saudi Oil Attacks Responsibility was claimed by Yemen's Iran-aligned Houthi group, which on Wednesday gave more details of the raid , saying it was launched from three sites in Yemen. US intelligence agencies were caught flatfooted, never expecting Iran would be so bold as to attack Saudi Arabia directly. Mr Johnson and Mr Trump discussed the situation this afternoon as they also talked about the Iran nuclea... [Full Article...]

US Federal Reserve cuts interest rates for second time

US Federal Reserve cuts interest rates for second time Economists with Wells Fargo believe the logjam in intrabank lending markets is being caused by required quarterly tax payments from corporations. The U.S. Though the United States economy continues growing at a "moderate" rate and the labour market "remains strong", the Fed said in its policy statement that it was cutting rates "in light of the implications of global developments for the econo... [Full Article...]

Federal Reserve injects liquidity into markets as key rate busts through cap

The Fed is expected to cut this benchmark rate for a second time this year at its meeting this week. But he also described the 0.25 percentage point cut in the federal funds rate, to a range of 2% to 2.25%, as more of an adjustment in policy rather than the start of a longer-term shift toward easier money. [Full Article...]

Saudi Arabia says Iranian missiles, drone hit oil facilities

Saudi Arabia says Iranian missiles, drone hit oil facilities US Defense Secretary Mark Esper said Iran continues to violate worldwide norms and has chosen to promote instability and danger throughout the region. Russian President Vladimir Putin also discussed the weekend attacks by phone with Salman on Wednesday, the Kremlin said. Investors on Monday digested news of the massive drone attacks on Saudi Arabian oil infrastructure at Abqaiq and Khurais... [Full Article...]

JP Morgan precious metals traders charged

JP Morgan precious metals traders charged Christopher Jordan , 47, who left the company in 2009, was an executive director and trader on JPMorgan's precious metals desk in NY. The JPMorgan investigation grew out of a multibank US crackdown on manipulation of commodities markets using techniques including spoofing, in which traders place orders without intending to execute them to try to move prices in their favor. [Full Article...]

Canadian energy stocks rally as oil jumps after Saudi attacks

Iran rejected the allegation, with a government spokesman saying now there was "absolutely no chance" of a hoped-for meeting between Iranian President Hassan Rouhani and US President Donald Trump at the UN General Assembly next week. The attack has shaken the world's energy supply matrix and sent oil prices soaring. Brent, the global oil benchmark, saw prices surge over 10% Monday to just sh... [Full Article...]

Almost 50,000 General Motors workers slated to go on strike

Almost 50,000 General Motors workers slated to go on strike The UAW represents almost 150,000 employees at GM, Ford and Fiat Chrysler. A broad strike by the union would be the first such action at GM in 12 years and would test both the union and GM Chief Executive Mary Barra at a time when the USA auto industry is facing a slowdown in sales, and rising costs for launching electric vehicles and curbing emissions. [Full Article...]

Saudi oil strikes: U.S. blames Iran for twin attacks

Saudi oil strikes: U.S. blames Iran for twin attacks State energy producer Saudi Aramco lost about 5.7m barrels per day of output on Saturday after 10 unmanned aerial vehicles struck the world's biggest crude-processing facility in Abqaiq and the kingdom's second-biggest oil field in Khurais. [Full Article...]

Trump Authorizes Release of Oil from US Strategic Reserve

Trump Authorizes Release of Oil from US Strategic Reserve After visiting the incident locations, Amin H. Nasser, Saudi Aramco President & CEO, said: "We are gratified that there were no injuries". He added that the amount of oil released would be "sufficient to keep the markets well-supplied". [Full Article...]

Oil prices surge as attack on Saudi facility disrupts output

Oil prices surge as attack on Saudi facility disrupts output Trump further said that the U.S. was awaiting confirmation from Saudi Arabia on who they suspect to be behind the attack on oil facilities, following which the further course of action would be determined. Still, even if the plant goes back online and there is no fundamental change to the world's supply of oil, prices may move higher and stay higher because traders would build in a "security ... [Full Article...]

Oil falls on possiblity of Iran exports resuming after Trump fires Bolton

Oil falls on possiblity of Iran exports resuming after Trump fires Bolton Iraqi Oil Minister Thamer Ghadhban said the Organization of the Petroleum Exporting Countries would discuss whether to deepen cuts when ministers meet on Thursday. According to Reuters , Russia , Saudi Arabia and Iraq are calling on fellow OPEC members to adhere to agreements to cut oil production to support prices as market supply grows. [Full Article...]


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