Business

Nissan is Recalling cars in Japan

Nissan is Recalling cars in Japan Ghosn and his close aide Greg Kelly, who was arrested along with the former chairman last month, are also expected to be indicted. In terms of specific charges, Reuters cites Nikkei's claim that all three entities will be indicted for underreporting salaries in five separate reports, and it's possible that both Ghosn and Kelly will be rearrested in connection with misstatements in the years ... [Full Article...]

Tumblr bans NFSW content and users say the platform will suffer

Tumblr bans NFSW content and users say the platform will suffer However, attempts to provide a "safe mode" for younger users have sometimes caused problems. This announcement comes two weeks after the micro-blogging site was kicked off of Apple's App Store because some users had posted and downloaded photographs of child sex abuse . [Full Article...]

Opec agrees 1.2m bpd oil output cut

Opec agrees 1.2m bpd oil output cut However, OPEC and its non-cartel members - who combined account for around half of global output - agree on one thing: a glut on the market has led to oil prices falling by more than 30 percent in the space of two months. "I think the Saudis tried to walk a tightrope: they want to make sure they maintain their relationship with the USA, but they also need to make some cuts because they need a ... [Full Article...]

Uber Confidentially Files for IPO

Uber Confidentially Files for IPO Uber faces a deadline to go public by September 30, and a filing this week suggests the debut will come earlier than that. A year ago the company's cofounder and former CEO Travis Kalanick resigned from his position following a tumultuous six months of scandal. [Full Article...]

China to 'immediately' apply measures agreed in trade truce with US

China to 'immediately' apply measures agreed in trade truce with US The two sides have been communicating and cooperating smoothly, and China was confident in striking a deal with the USA within the next 90 days, Gao said. It would also begin buying products from United States farmers "immediately", the USA said. Beijing, in exchange, has agreed to buy an unspecified but very substantial amount of agricultural, energy, industrial and other products from the United... [Full Article...]

Altria buys $1.8 billion stake in a cannabis firm | CMO Strategy

Altria buys $1.8 billion stake in a cannabis firm | CMO Strategy Altria's stock has fallen almost 25% this year and the company is expected to report revenue growth of only about 1% this year and in 2019. However, as part of this subscription agreement Altria will also receive warrants that, if exercised, would increase its ownership interest in Cronos to a whopping 55%. [Full Article...]

US job growth cools in November, monthly wage gains modest

US job growth cools in November, monthly wage gains modest November's job gains are down from October's robust 237,000, but the unemployment rate remained 3.7 percent for the third straight month, almost a five-decade low. The economy is producing so many jobs that the unemployment rate remains at historically low levels , despite the jobless claims number. US employers added 155,000 jobs in November, missing Wall Street's expectations for an increa... [Full Article...]

Paris on high alert as city shuts down for 'yellow vest' protests

Paris on high alert as city shuts down for 'yellow vest' protests A ring of steel surrounded the president's Elysee Palace - a key destination for the protesters - as police stationed trucks and reinforced metal barriers throughout the neighbourhood. An AP video journalist was wounded in the leg as police fired tear gas and rubber bullets on the Champs-Elysees. Subway stations in the centre of town were shut down. [Full Article...]

Canadian oil made a almost 50% move today

Canadian oil made a almost 50% move today U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $52.31 per barrel, down 95 cents, or 1.8 percent. The result has been oil prices for Western Canadian Select so low the province's energy resources are "being sold for pennies on the dollar", according to the premier . [Full Article...]

Dollar weak as U.S. Treasury yield curve inversion sparks recession fears

Dollar weak as U.S. Treasury yield curve inversion sparks recession fears In other words, bond holders were okay with being paid less to tie up their money longer with the USA government. The yield curve is a plot of the yields of bonds with equal credit quality but different maturity dates. While some regional bank presidents have been explicit in arguing the Fed should hold off raising rates to avoid an inversion, the consensus has been consistent: stay the course... [Full Article...]

China confident of agreeing USA trade deal despite Trump's combative stance

China confident of agreeing USA trade deal despite Trump's combative stance If the move is indeed true, it would be a positive one as the automotive industry has suffered the consequences of the growing U.S. US President Donald Trump has threatened to impose stiff tariffs on cars assembled in the European Union as part of his "America First" trade policy. [Full Article...]

China promises prompt action on USA trade pact

China promises prompt action on USA trade pact China has promised to act quickly but failed to release details. "Officials now face the hard task of fleshing out a deal that is acceptable to the Chinese but also involves significant enough concessions not to be torpedoed by the China hawks in the Trump administration", Capital Economics said in a note this week, adding that higher tariffs could simply be delayed. [Full Article...]

Huawei CFO Meng Wanzhou's Arrest In Vancouver Sends Global Markets Roiling

Huawei CFO Meng Wanzhou's Arrest In Vancouver Sends Global Markets Roiling The arrest of Huawei's chief financial officer in Vancouver could severely complicate Canada's relationship with China, according to a former ambassador. The news pummeled stock markets already nervous about increased tension between the United States and China and prompted experts to predict that Beijing would retaliate against Canada. [Full Article...]

Oil prices fall on swelling glut, economic growth concerns

Oil prices fall on swelling glut, economic growth concerns Minister of Energy, Industry and Mineral Resources of Saudi Arabia and chairman of Saudi Aramco, Khalid A Al-Falih recently spoke about reduced crude oil prices and mentioned that Prime Minister Narendra Modi was among the vociferous leaders of various countries who pitched for lowering down the oil prices. [Full Article...]

World markets down after arrest of Huawei executive

World markets down after arrest of Huawei executive While few details of the arrest have yet been released , the Canadian Justice Department has confirmed that Meng was sought for extradition by the US. "That could include tit for tat moves against Canadians", he said. Reacting to Meng's arrest, Huawei said in a statement it was unaware of any wrongdoing by its executive, adding it complies with all applicable laws. [Full Article...]

US, China Agree to Temporary Truce on Trade

US, China Agree to Temporary Truce on Trade Under the agreement, Trump is shelving a plan to raise tariffs on $200 billion worth of Chinese imports from 10 percent to 25 percent from the start of next year - but the hike will kick in if negotiators fail to reach a final deal within 90 days. [Full Article...]

French farmers to protest as Macron battles ‘yellow vest’ movement

French farmers to protest as Macron battles ‘yellow vest’ movement Seven people died and hundreds were severely injured. "What we are asking of you Mr Prime Minister, is not a postponement". He said the wealth tax could be reassessed in 2019. Benjamin Cauchy, a major figure in the movement said, "We will not be put to sleep by a moratorium, the issues are much wider than that", and added, "the French do not want crumbs, they want the breadstick in full". [Full Article...]

US, China trade war sees a pause

US, China trade war sees a pause President Donald Trump said in a late-night tweet that China has agreed to " reduce and remove " tariffs on imported American-made cars, a claim that wasn't immediately confirmed by Beijing. The increases come after the USA and China said they had agreed to not increase tariffs for 90 days to allow for talks. The confusion was exacerbated by the absence of a joint statement from the US a... [Full Article...]

Is Powell signalling end of Fed's tightening cycle?

ET. In his speech, Powell noted that interest rates remain "just below" the so-called neutral range, the level that central bankers believe will neither accelerate nor halt economic growth. President Donald Trump stepped up attacks on Powell for rate hikes Trump sees as undercutting his economic and trade policies, telling the Washington Post just yesterday that he is "not even a little b... [Full Article...]

Xi Open to Blessing Qualcomm-NXP Deal if Presented Again, US Says

Xi Open to Blessing Qualcomm-NXP Deal if Presented Again, US Says The Chinese government's official statement released following the talks did not mention a discussion of the Qualcomm deal, however. "Restarting the acquisition of NXP will help Qualcomm effectively disperse future operational risks without betting fully on smartphones", said Yao, adding that he believes the restart of the NXP deal should still be under consideration at Qualcomm despite its asse... [Full Article...]


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