Business

US economy revises down Q4 growth rate to 2.2 percent | AP business

US economy revises down Q4 growth rate to 2.2 percent | AP business While the first reading of the US Q4 GDP showed improvement , the third and final revision from the Commerce Department shows that the United States economy is experiencing a slight slowdown. economic growth is projected to slow to 2.4 percent in 2019 and further decelerate to 2.0 percent in 2020. President Donald Trump has pointed to the year-on-year growth figure as proof that the tax cuts, wh... [Full Article...]

Lyft shares jump 21% as stock begins trading

Lyft shares jump 21% as stock begins trading Yet the sector is fraught with questions about the future of automated driving, regulatory pushback and legal challenges over drivers' pay and benefits. "They're buying at the top of a bull market that's lasted for nine years", said Roberts. The company's executives made stops in cities such as New York, Baltimore, Kansas and Los Angeles. [Full Article...]

WOW Air has ceased operation - cancelling all flights with immediate effect

WOW Air has ceased operation - cancelling all flights with immediate effect Metro Detroit student hockey players are stranded overseas after Wow Air ceased operations Thursday. Mr. Mogensen, a tech and telecom entrepreneur, competed in the no-frills travel market created by Southwest Airlines of the United States in the early 1970s. [Full Article...]

Treasury Yields Hit Lowest Since Late 2017

Treasury Yields Hit Lowest Since Late 2017 Yields on 10-year bunds fell three basis points to around minus 0.05 percent, while those on New Zealand notes fell to a fresh low of 1.75 percent intraday. Treasury yield will make a run for the 2.3 percent handle amid month/quarter-end re-positioning flows. Money-market traders continue to extend the amount of Fed easing they foresee this year, predicting the central bank will reverse course ... [Full Article...]

Oil takes a hit as sombre economic outlook outweighs supply concerns

Oil takes a hit as sombre economic outlook outweighs supply concerns Crude oil futures fell by 0.22 per cent to Rs 4,066 per barrel Monday as speculators reduced positions amid a weakening trend overseas. Commerzbank noted declines in USA crude stocks and expenditure by US shale firms were also providing support. [Full Article...]

Uber to buy Mideast rival Careem for $3.1 billion

Careem co-founder and CEO Mudassir Sheikha will also continue to run the wholly owned subsidiary, which will report to its own board made up of three representatives from Uber and two representatives from Careem. "With a proven ability to develop innovative local solutions, Careem has played a key role in shaping the future of urban mobility across the Middle East, becoming one of the most succe... [Full Article...]

Avocados recalled in 6 states over listeria concerns

Avocados recalled in 6 states over listeria concerns The Center For Disease Control says anyone suffering from these symptoms who believes they have eaten food contaminated with listeria should seek medical care and tell the doctor about what they ate. Customers who bought the recalled products can either discard or return them to the place of purchase to get a full refund. Avocados have rapidly grown in popularity over the last half decade or s... [Full Article...]

Jet Airways founder Naresh Goyal, wife step down from board

Jet Airways founder Naresh Goyal, wife step down from board After weeks of speculations and uncertainties over the future course of Jet Airways , which has grounded over 80 planes due to financial woes, approved constitution of an Interim Management Committee to manage and monitor the daily operations and cash flow of the company. [Full Article...]

Apple updates news app, digital wallet; set to enter video streaming

Apple updates news app, digital wallet; set to enter video streaming Much like the new wave of digital-only banks we've seen in the UK, Apple has decided to make it easier and faster to get a card. The app shows total balance and weekly spending when you open it up, and a repayment screen allows customers to adjust their repayment period to see how much interest they would pay if they paid their credit back more quickly. [Full Article...]

French business recovery runs out of steam - PMI

French business recovery runs out of steam - PMI Italian lenders Unicredit, Banco BPM, and UBI led losses among banks after Credit Suisse said the market is underestimating Italian banks' net interest income challenges. "Today's PMI indicates that GDP growth is unlikely to have bounced back" in the first quarter, said analyst Colijn. Asian stocks closed flat, with China's Shanghai Composite Index , Japan's Nikkei , and Hong Kong's Hang... [Full Article...]

Jet Airways suspends flights on 13 routes

Jet Airways suspends flights on 13 routes At least 54 planes have been grounded as of now due to the non-payment of rentals. The airline, running a truncated schedule, suspended or reduced flights to at least 13 of its global stations while closing certain domestic sectors for operations. [Full Article...]

Recession LOOMS? Biggest indicator shrinks to NARROWEST level since 2007

Recession LOOMS? Biggest indicator shrinks to NARROWEST level since 2007 This particular indicator lies within the bond market, where investors show how confident they are about the economy by how much interest they're demanding from US government bonds. Policymakers, in the Fed's statement, also forecast just one rate hike through 2021. And if the economy ultimately does end up rolling over, price gains on holding longer-term Treasuries would be a better bet. [Full Article...]

Musk's lawyers call tweet in U.S. SEC's contempt bid 'not material'

Musk's lawyers call tweet in U.S. SEC's contempt bid 'not material' The SEC said Musk committed a "blatant" violation of that settlement by tweeting about Tesla's production outlook without first seeking approval from the company's lawyers. In that interview, the CEO of Tesla had said that he doesn't respect SEC at all. "Every hallmark of immateriality is present: the tweet restated previously-disclosed information, used generalized terms, was aspirational and o... [Full Article...]

GM: Would consider 'viable' opportunities for Cruze and Lordstown plant

GM: Would consider 'viable' opportunities for Cruze and Lordstown plant The automaker said in total it is investing $1.8 billion in its USA manufacturing operations this year, creating 700 new jobs and supporting 28,000 jobs across six states. Company executives are expected to make the case that the new EV - originally considered for one of GM's Chinese plants - is being built in the United States because of the new trade deal that is still awaiting approval by... [Full Article...]

Fed nominee Moore calls December's rate hike a 'substantial mistake'

Fed nominee Moore calls December's rate hike a 'substantial mistake' After raising rates four times last year, Powell this year has taken Fed policy in the direction that Trump wanted, putting rate hikes on hold and mapping out an end to reductions in the Fed's balance sheet that Trump and others had complained were squeezing the economy . [Full Article...]

IL unemployment 4.3 percent, unchanged since November

IL unemployment 4.3 percent, unchanged since November Bureau of Labor Statistics. January's jobs gain was adjusted upward to 26,700 jobs from the preliminary report of 24,400. "The administration is committed to putting IL on firm fiscal footing and growing the economy statewide", said Deputy Governor Dan Hynes. [Full Article...]

Netflix Testing Rs 250 Mobile Only Subscription Plan For Indian Market

Netflix Testing Rs 250 Mobile Only Subscription Plan For Indian Market The rumor that Apple will be hosting a spring event is proving to be true. Of course, most Netflix subscribers are happy to pay the newly increased prices. Apple is now in the phase of developing some of the best technological creations for all its customers awaiting the best hi-tech and advanced versions of the already existing devices or even a completely newer one. [Full Article...]

With no winner, Powerball jackpot soars to $550 million

With no winner, Powerball jackpot soars to $550 million The next drawing is scheduled for Wednesday night at 11pm. Zach Norenberg claimed his one million dollar jackpot prize on March 8 after purchasing a winning ticket for the March 6 Powerball drawing, according to a Powerball press release . [Full Article...]

$625 Million Powerball Jackpot Up for Grabs

$625 Million Powerball Jackpot Up for Grabs The Powerball jackpot went unclaimed. There is $625 million up for grabs in Saturday's Powerball jackpot. The cash annuity of Saturday's drawing is estimated at $380.6 million. the day of the drawing. They both chose the cash option of about $198 million. It's the seventh largest in USA history. The Powerball jackpot was won eight times past year, including once in New Jersey. [Full Article...]

Biogen scraps Alzheimer drug trials, wiping $17 billion off its market value

Biogen scraps Alzheimer drug trials, wiping $17 billion off its market value It was so promising that the company was running two phase three trials simultaneously, said neurologist Dr. Richard Isaacson, who directs the Alzheimer's Prevention Clinic at Weill Cornell in NY. The Alzheimer's Research UK Drug Discovery Alliance now has 23 active drug discovery projects targeting harmful brain inflammation and other damaging processes in the disease. [Full Article...]


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