Business

Business Oil markets struggle to find footing after 7% slump
Author: 0 Oil markets struggle to find footing after 7% slump

Non-Opec oil supply will surge by 120,000 bpd next year and the US, Canada, Kazakhstan and Russian Federation will lead the group of countries contributing to this increase. Brent is in so-called " bear market " territory alongside United States crude as it has fallen by more than 20% since its peak - $86 in early October.

Business Boeing, US regulator weigh software fix on 737 Max after crash
Author: 0 Boeing, US regulator weigh software fix on 737 Max after crash

That is critical information for pilots, which the association says was never communicated to them. Fox Business Network's Maria Bartiromo asks Boeing CEO Dennis Muilenburg about the Lion Air 737 MAX crash. Jon Weaks, president of the Southwest Airlines Pilots Association, said pilots were not made aware of the issue until last week when Boeing sent out an advisory over the issue.

Business UFOs spotted off Irish coast under investigation
Author: 0 UFOs spotted off Irish coast under investigation

One pilot who spotted the object asked air traffic control in Shannon if there was military activity in the area and was told there was not. He added that they climbed away at speed and they were very bright. Two commercial pilots flying near the south-west coast of the country spotted a fast-moving object cross the aircraft and vanish into thin air. "They are completely random, they happen in broad daylight, they happen in the dead of night", he said.

Business Facebook rebounds after users report outages
Author: 0 Facebook rebounds after users report outages

Those who tried to log in got an error message reading, "Sorry, something went wrong". Facebook said that the outage was due to a "routine test" in an official statement. Many began noticing the issue shortly before 1 p.m. A live outage map on the website at the time showed reports as far west as Portland, Ore., and as far east as Boston.

Business Amazon To Split HQ2 Between New York City, Northern Virginia
Author: 0 Amazon To Split HQ2 Between New York City, Northern Virginia

According to the WSJ report, Amazon is dividing the new headquarters evenly with as many as 25,000 employees apiece, splitting its new East Coast base into cities close to major hubs with plentiful tech talent. "We're talking about the single biggest economic development deal in the history of New York City", he said. Among the finalists that Amazon was holding advanced talks with were Dallas, Long Island City in NY and Arlington near Washington, DC, Reuters has reported, citing sources.

Author: 0 Oil prices rise by 1 pct after Saudi announces Dec. supply cut

The Saudi announcement boosted Brent oil price from some $69/bbl to above $71/bbl Monday - as investors deemed a 0.5-percent cut to the total global supply as easing the concerns of overproduction. Russia, by contrast, is in a more comfortable position, and Energy Minister Alexander Novak showed no sign he was ready to act immediately. But even just signalling that producers could cut production by 1% can make a huge difference in energy markets and beyond.

Business Alibaba Singles' Day sales hit $10 billion in first hour
Author: 0 Alibaba Singles' Day sales hit $10 billion in first hour

Items selling well included smartphones and other electronics, but also staples such as milk powder and diapers. But surely Singles' Day can't be bigger than Black Friday, right? Alibaba Group Executive Chairman Jack Ma was present at the gala night for countdown to the Global Shopping Festival 11.11 in Shanghai .

Business Google changes sex harassment policies after worker protests
Author: 0 Google changes sex harassment policies after worker protests

Pichai said "arbitration still may be the best path for a number of reasons (e.g. personal privacy) but, we recognize that choice should be up to you". Employees who organised last week's demonstrations estimated that 20,000 workers participated across Alphabet offices in five continents. Demma Rodriguez, head of equity engineering and a seven-year Google employee, said during the walkout that it was an important part of bringing fairness to the technology colossus.

Business Black Friday 2018: Walmart's ad is out with early deals
Author: 0 Black Friday 2018: Walmart's ad is out with early deals

Walmart's in-store Black Friday sale starts at 6 p.m. Thanksgiving at most stores, except where prohibited by law, which is the same time as last year's sale. We've collected our favorite Walmart Black Friday deals , and you can see a more complete list by clicking through the slideshow below. On its website, it will have 18 unique Black Friday deals live as early as midnight Thursday - including a Sharp 55-inch Class 4K Ultra HD HDR Smart LED TV on sale for $299 and a Farberware Oil-Less ...

Business United Kingdom workers at risk from Bombardier global cuts
Author: 0 United Kingdom workers at risk from Bombardier global cuts

Bombardier Alain Bellemare President and CEO said of the restructuring, "we continue to make solid progress executing our turnaround plan". Bombardier said that 3,000 of the job cuts will happen in Canada over the next 18 months and will save the company $250 million USA a year in salary and benefit expenses.

Business Passengers create stink over pungent planeload of durian
Author: 0 Passengers create stink over pungent planeload of durian

Passengers booked on a Sriwijaya Air flight from Bengkulu province in Sumatra to Jakarta on Monday complained to staff after smelling the fruit and refused to get on the plane. Durian is considered a delicacy in many parts of Asia but it attracts a lot of negative attention thanks to its "raw sewage"-like smell". The company then went on to say that it was normal practice for Indonesian airlines to carry durian in the hold, "as long as [the durian] is packed well and enclosed in the cargo ...

Business Iran to withstand sanctions; U.S. isolated
Author: 0 Iran to withstand sanctions; U.S. isolated

Benchmark Brent crude fell below $70 a barrel for the first time since early April, down more than 18 per cent since reaching four-year highs at the beginning of October. These are also Iran's biggest buyers, meaning Iran will be allowed to still export some oil for now. Once the waivers expire after 180 days, new waivers are expected to be issued, with a source in China saying his country would likely receive another six months of exemptions, though at a lower rate of around 220,000 ...

Business Tesla names new independent chairman as part of SEC deal
Author: 0 Tesla names new independent chairman as part of SEC deal

Musk and Tesla each had to pay a $20 million penalty under the September deal with the SEC, and he can not return as chairman for three years. "While Denholm is technically an independent member of the board, she has been part of the Musk team for some time now and that suggests she will not be up to the task of checking Musk's worst instincts", said Stephen Diamond, a professor of law at Santa Clara University who specializes in corporate governance.

Business US emergency directive after Boeing jet crash in Indonesia
Author: 0 US emergency directive after Boeing jet crash in Indonesia

SilkAir, a unit of Singapore Airlines Ltd., said it has yet to receive the bulletin from Boeing, but it will comply with the advice once it gets it. Aviation regulator DGCA has asked Jet Airways and SpiceJet to take corrective action to address possible issues with their Boeing 737 MAX planes that could lead to "significant altitude loss" of the aircraft, a senior official said Thursday.

Business Lowe's To Shutter 51 Underperforming Stores
Author: 0 Lowe's To Shutter 51 Underperforming Stores

The Indiana store is in Portage. Store closing sales are scheduled to begin Thursday at most of the affected locations, according to the company's website. Where we're headed: Analysts were happy to hear that Lowe's will shutter lagging locations, and see it as part of a broader bullish thesis for the stock.

Business Amazon Trying to Finalize Plans to Open HQ2 in LIC
Author: 0 Amazon Trying to Finalize Plans to Open HQ2 in LIC

It's part of the campus of 44 Amazon buildings, with more under construction. In total, Amazon received proposals from 238 cities past year and reduced the list down to 20 finalists in January. According to the Journal's sources, talks with other cities - such as Denver, Toronto and Nashville - appear to have fizzled out. As the owner of The Washington Post , she said Amazon chief executive Jeff Bezos "has to be in D.C.

Business Pompeo talks up Iran sanctions ahead of midterm elections
Author: 0 Pompeo talks up Iran sanctions ahead of midterm elections

Iran has greeted the reimposition of U.S. sanctions with air defence drills and an acknowledgement from the president, Hassan Rouhani , that the country faces a "war situation", raising tensions in the Middle East. The sanctions freeze any assets that those targeted have in USA jurisdictions and bar Americans from doing business with them. Oil markets have been preparing for the sanctions for months.

Business 2 people die in Amazon facility after building partially collapses
Author: 0 2 people die in Amazon facility after building partially collapses

A storm rolled through the area bringing down the 50-foot wall and forcing those in the building to evacuate, according to NBC News . A second body was found on Saturday morning. According to the National Weather Service, two tornadoes struck Maryland Friday night - one in Baltimore along the county line and one in Mt. Officials are still considering the Amazon warehouse an "active scene" and said that firefighters would keep sifting through debris to ensure that there were no other ...

Business Trump speaks by phone with China's Xi on trade
Author: 0 Trump speaks by phone with China's Xi on trade

President Trump said a deal with China would also be good for Beijing . A telephone call between Presidents Xi Jinping and Donald Trump might have increased the possibility of a truce in the trade war, but the strategic dispute between Beijing and Washington is a long way from being resolved, according to a Chinese government adviser and other observers.

Business Obama, Trump clash in final pitches to midterm voters
Author: 0 Obama, Trump clash in final pitches to midterm voters

Everyone is excited about the Jobs Numbers - 250,000 new jobs in October. "It's one of the most conservative districts in California", CNN's Maeve Reston said, citing Hunter's early support of Trump in 2016. Trump said critics had given him a "hard time" about the video, which featured a Mexican migrant in a courtroom, smiling and boasting about having killed police officers.

Business Cash-strapped Pakistan at 'low point', PM tells China
Author: 0 Cash-strapped Pakistan at 'low point', PM tells China

However, there was no immediate official comment from Beijing on the report . But while neither leader mentioned economic aid in front of reporters, China's top diplomat guaranteed support from Beijing in a separate meeting with his Pakistani counterpart.

Business The Starbucks Christmas red cup has gotten a serious makeover for 2018
Author: 0 The Starbucks Christmas red cup has gotten a serious makeover for 2018

And, as usual, you can do your holiday gift shopping at Starbucks , which is selling sparkly cold cups and colorful mugs. This year's holiday cup designs are giving people (the Christmas-loving ones anyway) what they want with multiple with red stripes, one with a green argyle pattern, one with red-and-white flames, and one with mistletoe-like coffee cherries in red and green.

Business Oil under pressure from rising output, but Iran sanctions loom
Author: 0 Oil under pressure from rising output, but Iran sanctions loom

In addition to Japan, India, and South Korea, the U.S. would grant the oil waiver to China as well, two people familiar with Washington-Beijing discussions said on the condition of anonymity. The global benchmark crude traded at $9.33 premium to WTI for the same month. Despite the surge in output, concerns lingered as Washington is set to impose its sanctions against Iran's petroleum exports from next week.

Author: 0 Is there a Trump-China deal in the offing? We'll see

In their talks on Thursday night, Xi told Trump that the two sides had to come up with a proposal to settle the trade war, while Trump said the two men had a "long and very good conversation" on several issues, including trade and North Korea.

Business Donald Trump is being heavily criticised for tweeting out a
Author: 0 Donald Trump is being heavily criticised for tweeting out a "racist" video

Campaign finance experts said that by limiting it to his social media feed, Trump has found a gap in campaign finance laws that are meant to let voters know who sponsors the messages they see. It is unclear who commissioned or made the video - but it can be seen on the president's Twitter and Instagram page. Text over the video reads "Democrats let him into our country", and "Democrats let him stay".

Business Trump expects 'great deal' with China, but more tariffs if not
Author: 0 Trump expects 'great deal' with China, but more tariffs if not

According to the Bloomberg report , the new list would cover the $257 billion worth of Chinese goods not already affected by tariffs and would come into effect by February, following a 60-day public comment period. ANALYST'S TAKE: With new restrictions on a Chinese semiconductor maker, the "U.S. has escalated its trade war with China in an unexpected way", Chang Wei Liang of Mizuho Bank said in a commentary.

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