Business

Business House sends Farm Bill to President
Author: 0 House sends Farm Bill to President

It passed a second time around, but without any support from Democrats , who insisted they wouldn't vote for a bill with the new work requirements included. Ted Lieu (D-Calif.) said he "would love to regulate the content of speech", but is prevented from doing so by the First Amendment. ". It'll provide the certainty that farmers and ranchers need".

Business OPEC production cut fails to spark crude revival
Author: 0 OPEC production cut fails to spark crude revival

The decision will be implemented from January, 2019 and the production cut will continue for 6 months. The Opec-led group of oil producers last Friday announced a supply cut of 1.2-million barrels a day in crude oil supply from January, measured against October 2018 output levels.

Business OPEC output cut will be with October benchmark
Author: 0 OPEC output cut will be with October benchmark

Prices on crude oil plummeted down to $60 per barrel in November following the decision of Saudi Arabia to raise crude production to an unprecedented 11.3 million barrels per day as Reuters reported on 27 November citing an industry source.

Business Regional unemployment rate dips below 4 per cent
Author: 0 Regional unemployment rate dips below 4 per cent

The unemployment rate for the province as a whole was 4.4 per cent, the lowest in the country. The employment rate, the percentage of the population over 15 that is employed, was at 64.2 per cent during the month, up from 63 per cent in October as the number of people with jobs in the region rose by 44,500.

Business Altria buys 45% stake in cannabis producer Cronos for $2.4 billion
Author: 0 Altria buys 45% stake in cannabis producer Cronos for $2.4 billion

Altria , which makes Marlboro cigarettes, is taking a 45 per cent stake in the Toronto company. "Investing in Cronos Group as our exclusive partner in the emerging global cannabis category represents an exciting new growth opportunity for Altria ", Howard Willard, Altria's chairman and chief executive officer said in a statement .

Business U.S. Restaurants and Bars Added Over 20,000 Jobs in November
Author: 0 U.S. Restaurants and Bars Added Over 20,000 Jobs in November

Average hourly earnings increased 3.1% in November from a year earlier, Friday's report said, only the second time they have climbed that much since the recession ended nine years ago. Americans lifted their spending in October by the most in seven months. And hiring at last month's pace would make it easier for the Federal Reserve to slow its interest rate increases, which investors worry are weighing on the economy.

Business London share prices PLUMMET amid US-China trade war fears — FTSE latest
Author: 0 London share prices PLUMMET amid US-China trade war fears — FTSE latest

The ministry said that China would try to work quickly to implement specific items already agreed upon, as both sides "actively promote the work of negotiations within 90 days in accordance with a clear timetable and road map". During the talks in Buenos Aires, Trump agreed to delay a scheduled escalation in U.S. tariffs on many Chinese goods, from 10 percent to 25 percent, that had been set to take effect January 1.

Business Prime Minister Theresa May — Full Interview
Author: 0 Prime Minister Theresa May — Full Interview

Ministers continue to insist that the only alternatives to the Brexit deal are "no deal" or no Brexit . MPs can now use the government's legal advice in their decision-making process ahead of Parliament's Dec 11 vote on May's deal, which sets out how the United Kingdom will interact with the European Union after it withdraws from the bloc at the end of March.

Business China Demands the Release of Huawei's CFO
Author: 0 China Demands the Release of Huawei's CFO

Huawei would not change its cooperation with more than 13,000 companies worldwide, it said . Meng Wanzhou, the chief financial officer and deputy chairwoman of Huawei Technologies , was arrested at Vancouver's airport while in transit over the weekend and faces extradition to the United States on unspecified charges.

Business Huawei CFO arrested, faces extradition to U.S.
Author: 0 Huawei CFO arrested, faces extradition to U.S.

China is demanding Canada release Huawei's chief financial officer Meng Wanzhou , who was arrested in a case that adds to technology tensions with Washington and threatens to complicate trade talks. ZTE Corp., another Chinese technology company, almost collapsed due to US penalties for violating Iran sanctions before Trump rescued it following a request from Xi.

Business China to ‘immediately’ implement US trade truce measures
Author: 0 China to ‘immediately’ implement US trade truce measures

The two countries have now agreed to a 90-day truce to work out a broader trade deal . That includes more purchases of USA farm products, which Trump - seemingly trying to remind Xi - has said will begin "immediately". Trump, however, has threatened to slap tariffs on auto imports from Europe and other countries, citing US trade deficits with those nations. The disarray surrounding the China deal coincides with a global economy that faces other challenges: Britain is struggling to ...

Business Sask. won't follow Alberta with cut to oil production
Author: 0 Sask. won't follow Alberta with cut to oil production

Oil prices were pressured by a weekly report from the American Petroleum Institute (API) that said US crude inventories rose by 5.4 million barrels in the week to November 30, to 448 million barrels, in a sign that USA oil markets are in a growing glut.

Business Macron: yellow-vest protesters want to bring down the French state
Author: 0 Macron: yellow-vest protesters want to bring down the French state

The government U-turn appeared to appease few of the protesters, who wear the yellow vests that France requires motorists to have in their vehicles in case of roadside emergencies. Philippe said "the tax is now abandoned" in the 2019 budget, and the government is "ready for dialogue". According to French journalist Agnès C.

Business Trump urges against oil production cut ahead of OPEC meeting
Author: 0 Trump urges against oil production cut ahead of OPEC meeting

That, he said, would include production for both OPEC countries as well as non-OPEC countries, like Russian Federation, which have in recent years been coordinating their production limits with the cartel. If the group's most important ally in the broader Opec+ coalition decides to make a sizable cut, the cartel will follow up. Although Russia, the largest producer in the wider group known as OPEC+, agreed to a cut in principle, the eventual size of their contribution remains undefined and ...

Business Huawei founder's daughter and company CFO Meng Wanzhou arrested in Canada
Author: 0 Huawei founder's daughter and company CFO Meng Wanzhou arrested in Canada

It comes as Huawei is said to be facing a probe by the U.S. Justice Department for violating sanctions against Iran. "The ban was sought by Ms. Meng". She was detained while transferring between flights, the firm said. Meng, the 46-year-old daughter of Huawei founder Ren Zhengfei, has previously been suspected of involvement in Huawei's alleged ties to Iran.

Business Qualcomm isn't going ahead with its NXP acquisition despite possible China nod
Author: 0 Qualcomm isn't going ahead with its NXP acquisition despite possible China nod

China and the United States agreed on Saturday to a truce in their trade war following talks between Chinese President Xi Jinping and US President Donald Trump on the sidelines of the G20 summit in Argentina . By allowing the Qualcomm deal to run itself out, Beijing was seen to be flexing its economic muscles while retaining negotiating power with a Trump administration that has threatened to slap tariffs on virtually all Chinese imports.

Business China trade WAR: 'I'm a TARIFF MAN!' Donald Trump's threat to China
Author: 0 China trade WAR: 'I'm a TARIFF MAN!' Donald Trump's threat to China

We are right now taking in $billions in Tariffs. But the deal was also vague, and the uncertainty has led to skepticism that the divides between the USA and Chinese goals can be bridged. The uncertainty underscored the risk entailed by Trump's eagerness to strike deals without nailing down details in advance. During the talks in Buenos Aires, Trump agreed to delay a scheduled escalation in US tariffs on many Chinese goods, from 10 percent to 25 percent, that had been set to take effect ...

Business Saudi minister: OPEC+ deal 'supports global economy'
Author: 0 Saudi minister: OPEC+ deal 'supports global economy'

The two world leaders met for a lengthy bilateral meeting during the G20 Summit in Buenos Aires on December 1 to discuss oil output production cuts, Kremlin spokesman Dmitry Peskov was cited as saying by the RBC news website on Monday. Brent hit a a four-year high of $86.76 a barrel in early October before slumping to $58.71 on Friday. Iraq's state oil marketer received about 600,000 barrels of crude at storage tanks it uses in Turkey, according to agents at the port of Ceyhan where the ...

Business Qatar to withdraw from OPEC in January 2019
Author: 0 Qatar to withdraw from OPEC in January 2019

The report added that Turkish President Recep Tayyip Erdogan and Qatari Emir agreed on Turkey providing more military supplies to Qatar's military, the integration of Turkish and Qatari security efforts during FIFA World Cup 2022 in Qatar and the building of an worldwide communication and public relations partnership between the two countries, the site said, quoting Turkish sources.

Business Fed chair says economy is in ‘good health’ despite risks
Author: 0 Fed chair says economy is in ‘good health’ despite risks

Some of Powell's previous observations and similar remarks from other Fed officials have raised hopes in financial markets that the central bank may be close to slowing its rate increases, which have gradually raised borrowing costs for consumers and businesses.

Business G20 a chance for U.S. and China to mend relationship
Author: 0 G20 a chance for U.S. and China to mend relationship

The U.S. has agreed to delay by 90 days a planned increase in tariffs on $200 billion of Chinese imports so the two nations have time to iron out their trade differences - or at least attempt to do so, the White House said. "The two sides chose to avoid escalation of trade restrictive measures and will work towards lifting all additionally-imposed tariffs", Xinhua said.

Business Oil drops below $50 for first time in a year
Author: 0 Oil drops below $50 for first time in a year

America and OPEC did boost their output to rein in the global oil prices and then the subsequent relaxation of sanctions for countries, especially like India to import oil from Iran resulted in a market surplus leading to the reduction in crude price.

Business Donald Trump signs USMCA with Mexico and Canada at G-20
Author: 0 Donald Trump signs USMCA with Mexico and Canada at G-20

Canada will also provide new access for US chicken and egg exports, and increase access for turkey. The new trade deal, which will govern more than a trillion dollars of trade, came after more than a year of acrimonious negotiations. Turning to address Trump, said "And Donald, it's all the more reason why we need to keep working to remove the tariffs on steel and aluminum between our countries".

Business General Motors is closing its Oshawa plant after 2019
Author: 0 General Motors is closing its Oshawa plant after 2019

Ontario Premier Doug Ford said it was a "difficult day" for the Oshawa plant workers, Ontario auto part suppliers and their families. "Typically the smaller companies may not have enough work for a 40 hour week, so they have two choices - either lay the employee off or they cut their hours down, for example, down to 20 hours", Ford explained.

Business Was Post-Fed Chair Speech Rally a Market Overreaction?
Author: 0 Was Post-Fed Chair Speech Rally a Market Overreaction?

In October, Powell said the central bank is "a long way " before getting rates to a neutral level, his latest remarks suggest otherwise. "The unemployment rate is 3.7 percent-a 49 year low , and many other measures of labor market strength are at or near historic bests", he said.

Business Trump touts new US BMW factory. But that's not happening
Author: 0 Trump touts new US BMW factory. But that's not happening

Also, the countries that send us cars have taken advantage of the USA for decades", Trump wrote. In a tweet Thursday slamming General Motors for plans to lay off workers, Trump wrote that auto companies "are pouring into the U.S." and GM is "very counter" to the rest of the industry.

Business Deutsche Bank’s Frankfurt HQ searched in Panama Papers probe
Author: 0 Deutsche Bank’s Frankfurt HQ searched in Panama Papers probe

Some 170 prosecutors, state police, national police and tax investigators were involved in the morning searches of six buildings in Frankfurt , and in nearby Eschborn and Gross-Umstadt, Niesen said . Prior to that, other bank sources had delivered more dismissive comments, chief strategist Ulrich Stephan in November past year saying he "would simply not recommend (Bitcoin) to the everyday investor".

Business Trump expresses more displeasure with Fed chairman
Author: 0 Trump expresses more displeasure with Fed chairman

Investors have been bracing themselves for another increase next month. The Fed found that the riskiest companies are increasingly the ones piling on the most additional debt. The benchmark Dow Jones Industrial Average powered 2.5 per cent higher, turning positive for the year after steep recent losses. Trump has called the Fed "crazy" and "ridiculous".

Business Microsoft briefly tops Apple as most valuable company
Author: 0 Microsoft briefly tops Apple as most valuable company

It was also the first time since 2013 that any company topped it, ever since Apple eclipsed Exxon Mobil Corp.in size, according to an analysis of Bloomberg data. Amid a cloudy outlook for hardware sales, Apple has said it will step up focus on services business. Microsoft posted a revenue of 29.1 billion dollars generated from their sales of Azure Cloud, gaming and Surface laptop portfolio.

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