Business

Business Oil inches up on surprise draw in USA crude stockpiles
Author: 0 Oil inches up on surprise draw in USA crude stockpiles

Those sanctions would block banking channels, making payment for oil bought from Iran hard as well as stop re-insurance cover to refineries processing such oil. Given the impact of rising oil prices on the rupee and India's trade deficit, his motivations were clear. Crude has risen for two out of three sessions this week after Saudi Arabia hinted it may use its oil wealth as a weapon against any punitive measures tied to the disappearance of a prominent regime critic.

Business How NYSE move could propel Saudi share in Uber to $16 bln
Author: 0 How NYSE move could propel Saudi share in Uber to $16 bln

Khashoggi, a well-known critic of Saudi Arabia's regime, disappeared after walking into the Saudi consulate on October 2. Germany, Britain and France issued a joint statement over the weekend expressing "grave concern" and calling for a credible investigation to ensure those responsible for the disappearance "are held to account".

Business YouTube Faces Global Outage, Company to Resolve Issue
Author: 0 YouTube Faces Global Outage, Company to Resolve Issue

No further information has been provided on what is causing tonight's outage, how long it will last. YouTube videos began returning errors around 9pm EST. We're not really sure what's going on with the site, but as many people have noted, the popular video-sharing website is now down and it doesn't appear to be coming back anytime soon.

Business Mega Millions prize of $654M is nation’s 4th-largest; drawing tonight
Author: 0 Mega Millions prize of $654M is nation’s 4th-largest; drawing tonight

Mega Millions Lottery forms are pictured at Ted's State Line Mobil in Methuen, Mass., July 24, 2018. Mega Millions is not the only game in town. Powerball officials announced that Wednesday's jackpot reached $ 345 million . The odds of winning Tuesday's drawing is more than 302 million to one. Sure sure, someone needs to win eventually, we know. The $ 654 million is up for grabs for tonight's drawing.

Business Mega Millions $548 million jackpot numbers revealed
Author: 0 Mega Millions $548 million jackpot numbers revealed

The victor was able to file a lawsuit and stay anonymous while claiming the winnings through an anonymous trust, even though they had originally signed their winning ticket with their name. The prize is the second-highest in the game's history and has a lump sum option of $372.6 million. If you're looking for a tiny hint: the numbers 17 and 12 have been drawn twice as Mega Balls since August 31.

Business Sears, Once America’s Biggest Store, Collapses Into Bankruptcy
Author: 0 Sears, Once America’s Biggest Store, Collapses Into Bankruptcy

The famous Toys "R" Us retailer filed for bankruptcy a year ago while stores such as Macy's have also been forced to lay off workers. Store shelves have been left bare as many vendors have demanded more stringent payment terms, says Mark Cohen, a professor of retailing at Columbia University and a former Sears executive.

Business Sears craters after filing for bankruptcy (SHLD)
Author: 0 Sears craters after filing for bankruptcy (SHLD)

It joins a growing list of retailers that have filed for bankruptcy or liquidated in the last two years amid a fiercely competitive climate. That said, Bob warned Sears was not to be messed with if buyers don't meet the monthly payments. Closing 142 stores leaves a very large hole in the economies of the malls where they exist. It is also weighing the sale of "a large portion" of its stores and said they could be bought by Lampert's hedge fund in a bankruptcy auction.

Business Oil extends losses as other markets fall, stockpiles climb
Author: 0 Oil extends losses as other markets fall, stockpiles climb

OPEC sees the oil market as well supplied and is wary of creating a glut next year, the group's secretary-general said on Thursday. Oil prices rose on Friday slightly reversing two days of declines in the previous sessions driven by sharp falls in equity markets and indications that supply concerns have been overblown, but were still on track for a weekly fall.

Business IEA sees lower demand for oil in 2018 and 2019
Author: 0 IEA sees lower demand for oil in 2018 and 2019

Crude oil futures for November ended up $0.37, or 0.5%, at $71.34 a barrel. The amount available will nearly certainly be tested in the coming months as US sanctions take effect on Iran , which has already seen supplies fall to the lowest in more than two years, according to the report.

Business SEC, Tesla support approval of settlement
Author: 0 SEC, Tesla support approval of settlement

Investor concerns that Tesla's board was too closely tied to Musk led to the company's addition of two independent directors, including Murdoch, in July 2017. Tesla is under scrutiny for failing to produce its Model 3 sedan quickly enough and in sufficient volume to meet customer demand. Concerns about Musk due to production delays and manufacturing challenges have been exacerbated by a series of damaging actions, including Musk insulting analysts on a conference call, calling a British cave ...

Business Facebook Says Millions Of Names, Search History, Location Data Stolen
Author: 0 Facebook Says Millions Of Names, Search History, Location Data Stolen

Originally Facebook said 50 million accounts could have been affected , but Facebook didn't know if they had been misused. Facebook is working with the Federal Bureau of Investigation to determine exactly how this happened, and per the official press release, the FBI's asked Facebook "not to discuss who may be behind the attack".

Business New Airbus to Embark on 19-Hour Commercial Flight
Author: 0 New Airbus to Embark on 19-Hour Commercial Flight

Like on Qantas' mammoth Perth to London flight , Singapore Airlines is putting the emphasis on wellness with mindful food and sleep strategies that aim to make the flight more comfortable. Singaporean airlines is hoping that the introduction of more fuel-efficient planes will become a permanent thing as fuel prices continue to soar.

Business IMF Warns That Trump’s Trade War Is Devastating The World Economy
Author: 0 IMF Warns That Trump’s Trade War Is Devastating The World Economy

Dr Obstfeld said financial markets have overly emphasised short-term movements in China's currency, adding that the yuan has often recovered quickly from periods of volatility in recent years. The IMF warned of a permanent hit to growth if the US goes ahead with a threat to impose a 25 percent tariff on all imported cars. It added that uncertainty in the run-up to the 2019 general election was also negatively impacting growth.

Business USA pastor back on trial in Turkey as calls grow for release
Author: 0 USA pastor back on trial in Turkey as calls grow for release

Two unnamed senior administration officials and a third person briefed told NBC that the USA and Turkey reached a deal to secure Mr. Brunson's return home. The State Department is unaware of a deal, according to Reuters , but Mr Pompeo was hopeful about its chances on Wednesday. Despite pressure from the Trump administration, Turkish President Recep Tayyip Erdogan has insisted that he has no sway over the judiciary and that the courts will decide on Brunson's fate.

Business Trump says Fed 'out of control' but keeps Powell
Author: 0 Trump says Fed 'out of control' but keeps Powell

During a PBS interview last week, Fed Chair Jerome Powell said accommodative interest rates, or low rates to encourage economic growth, were no longer needed. Leaders of the Fed have indicated that they expect to keep raising their target interest rate to around 3.4 percent by the end of 2020, up from the current level of just above 2 percent.

Business China Trade War to Hurt Global Economic Growth
Author: 0 China Trade War to Hurt Global Economic Growth

Although the report said the sub-Saharan African economy was recovering from 2.7 per cent in 2017 to an average rate of about 3.1 per cent in 2018 and 3.8 per cent next year. Several emerging markets had their forecasts cut, including Argentina, Brazil, Iran and Turkey, reflecting factors including tighter credit. Equally, Angola is at the moment contracting by about 0.1 per cent this year, with a projection of almost four per cent in 2019.

Business Stocks end again with deep losses, Dow -2.1%
Author: 0 Stocks end again with deep losses, Dow -2.1%

Rising interest rates also increase borrowing costs for households and businesses, eating into corporate profits. The Dow plunged more than 800 points Wednesday, its worst drop in eight months. Hogan said the problem is that investors "don't see an exit on the trade war highway". The ongoing market turmoil prompted Mr Trump to lash out at the US Federal Reserve - accusing the central bank of being "out of control" after a series of interest rate hikes.

Business Hopes of Brexit deal breakthrough rising UK News
Author: 0 Hopes of Brexit deal breakthrough rising UK News

Reaching out to Labour and other parties, she said: "When we come back with a deal, I would hope that everybody across the whole House will put the national interest first and not only look at a good deal for the future of the United Kingdom, but remember that having given the decision on whether we stay in the European Union to the British people, and the British people having voted to leave, it is our duty to ensure that we leave".

Business UK PM Theresa May says Brexit deal is close - Financial Times reports
Author: 0 UK PM Theresa May says Brexit deal is close - Financial Times reports

British Prime Minister Theresa May briefed her inner cabinet on Thursday evening that a historic Brexit deal was close, the Financial Times reported Thursday. Britain's Brexit minister, Dominic Raab, could also come to Brussels then if weekend talks cover enough ground. "The DUP was always seen as the party of business, and if the business community says we need a backstop solution, maybe they think it will be harder for the DUP to block a deal", said Leheny.

Business UAE embassy issues weather warning to Emiratis in US
Author: 0 UAE embassy issues weather warning to Emiratis in US

Worry over Hurricane Michael has also postponed the Marjory Stoneman Douglas Public Safety Commission's highly anticipated hearings into the high school massacre scheduled for this week, as many of those on the commission live in the panhandle.

Business Iran: Saudis Aren't Replacing Our Oil Exports
Author: 0 Iran: Saudis Aren't Replacing Our Oil Exports

The comments followed news that India, Iran's No. 2 oil customer after China, will buy 9 million barrels of Iranian oil in November. The administration is "in the midst of an internal process" of considering exceptions called SRE waivers, or significant reduction exemptions, said a government official, who spoke on the condition of anonymity.

Business Facebook message about your account being cloned is a hoax
Author: 0 Facebook message about your account being cloned is a hoax

Officials encourage you to ignore the message and not to follow the message instructions because it only spreads the hoax further. The messages begin with "Hi...." "Hi.I actually got another friend request from you yesterday.which I ignored so you may want to check your account".

Business Labor Dept.: Unemployment, job growth down in September
Author: 0 Labor Dept.: Unemployment, job growth down in September

Job growth has averaged 208,000 per month so far in 2018, up from 182,000 per month past year. The U.S. central bank raised rates last week for the third time this year and removed the reference in its post-meeting statement to monetary policy remaining "accommodative".

Business RBI may hike repo rate by 25 bps on Friday
Author: 0 RBI may hike repo rate by 25 bps on Friday

Prakash Sakpal, economist, Asia at ING said that even a hike of 25 basis points is unlikely to help save the rupee , adding that the central bank will need to do more but that looks unlikely on the grounds of on-target inflation and stress in the financial sector.

Business 'New NAFTA' pact shores up support for President Trump
Author: 0 'New NAFTA' pact shores up support for President Trump

It will bring more pipelines and exports of natural gas and oil that will encourage more fracking in the USA and Mexico at a time when we urgently need to move off of fossil fuels to avert the worst effects of the churning climate chaos we are already experiencing.

Business Toyota recalls 2.4 million hybrids over stalling risk
Author: 0 Toyota recalls 2.4 million hybrids over stalling risk

It affects about 1.25 million vehicles sold in Japan, 830,000 vehicles in North America, and 290,000 vehicles sold in Europe. The recall applies to some Toyota Prius and Auris hybrids made from October 2008 to November 2014. Toyota said the cars involved in the recall had already been involved in previous recalls in 2014 and 2015, but: " the remedy conducted then did not anticipate the new condition identified in this recall ".

Business India's currency falls to all-time low against US dollar
Author: 0 India's currency falls to all-time low against US dollar

Anticipation of a rate hike has increased in the past month as oil prices climbed, the rupee's slide accelerated and concerns on liquidity emerged. "However, if oil comes down to $75 a barrel, then the rupee is expected to retract significantly against the greenback", he noted.

Business China 'put tiny chips in USA computers to steal tech secrets'
Author: 0 China 'put tiny chips in USA computers to steal tech secrets'

A third-party test of Elemental's Super Micro-assembled servers turned up those tiny, malicious chips, a discovery Amazon reportedly shared with U.S. Apple, Amazon, and Supermicro deny any knowledge of such an attack. "We remain unaware of any such investigation", said Super Micro. In response to Bloomberg's latest version of the narrative, we present the following facts: Siri and Topsy never shared servers; Siri has never been deployed on servers sold to us by Super Micro; and Topsy ...

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