Economy

The US Has Reached a Trade Deal "In Principle" with China

The US Has Reached a Trade Deal The announcement came two days before $160 billion in new US levies on Chinese products were set to take effect. If it is signed, Trump's long-awaited deal will be a relief to Apple, among the USA companies with the most to lose in the trade war between the world's two largest economies, along with chipmakers who make the components in its devices, which are mostly made in China . [Full Article...]

Holden has killed off the Commodore

Holden has killed off the Commodore The VF may have been the last Aussie Commodore, but the ZB is the last over all. The current Commodore is a twin to the Buick Regal sold in the United States and China and the Opel Insignia sold in Europe. A further 15 models were subsequently introduced, during which time the word "Commodore" nearly became synonymous with Holden itself. "But now with more choice than ever before, customers are ... [Full Article...]

John Properties employees receive $10M in bonuses

John Properties employees receive $10M in bonuses The firm's president said the company chose to thank all the employees for helping it achieve its goal. "I couldn't think of a better way to show it", he commented, adding "Without the team, we are nothing". John Properties announced the bonuses at the company's holiday party. I do not even have words to properly describe how I felt, it was just fantastic and incredible. [Full Article...]

Pound euro exchange rate steady as Brexit uncertainty hits United Kingdom economic growth

Pound euro exchange rate steady as Brexit uncertainty hits United Kingdom economic growth Services, which make up about three quarters of the United Kingdom economy, expanded by 0.2% but manufacturing, construction and agriculture all shrank. Gross domestic product rose by 0.7% compared with October 2018, the weakest growth since March 2012, when Britain was still trying to shake off the effects of the global financial crisis. [Full Article...]

Saudi oil giant Aramco announces world's largest IPO

Saudi oil giant Aramco announces world's largest IPO That could lead to confidence in the Saudi economy and generate billions of dollars in capital to invest in job-creating projects, analysts say. "The Saudi Stock Exchange ( Tadawul ) announces that the listing and trading of the Saudi Arabian Oil Company ( Saudi Aramco ) will start on Wednesday", the bourse said in a statement yesterday. [Full Article...]

Dollar shines after blockbuster U.S. jobs report; data backs steady Fed

Dollar shines after blockbuster U.S. jobs report; data backs steady Fed Holiday hiring and the end of the General Motors strike drove down unemployment in November, according to numbers released Friday by the federal Bureau of Labor Statistics . US stocks were trading higher while the dollar.DXY gained against a basket of currencies. For months, it had been stated that the jobs market was resilient but following this report , analysts could make the case that ... [Full Article...]

Almost 6,000 United States sexual assaults reported to Uber in 2017 and 2018

Almost 6,000 United States sexual assaults reported to Uber in 2017 and 2018 Regulators in London cited uncertainty about Uber's ability to ensure the well-being of its passengers as a reason they revoked the company's license to operate there last week. The assault claims reported to Uber ranged from unwanted kissing to forcible penetration. Uber will be able to continue operating in the United Kingdom capital as it appeals the decision. [Full Article...]

OPEC nations, Russian Federation look to cut oil output to lift prices

OPEC nations, Russian Federation look to cut oil output to lift prices The cuts next year are in addition to OPEC's previous cut agreement of 1.2 million bpd and represent about 1.7% of global oil output. Earlier this week, media reported that Saudi Arabia as a key OPEC member planned to increase oil cuts 400,000 barrels per day and insist on stricter compliance with the current cuts as some countries, including Iraq and Nigeria, produced well above their quotas,... [Full Article...]

OPEC+ to debate oil-cut cheating; Russian Federation seeks change

OPEC+ to debate oil-cut cheating; Russian Federation seeks change Global benchmark Brent crude was trading at $61.28 per barrel at 0623 GMT on Wednesday for a 0.13% gain after it closed Tuesday at $61.20 a barrel. U.S. But some nations such as Iraq have been ignoring the agreement and producing more than their allotted amount. "If they just keep the existing situation, then you get this massive oversupply", said Jacques Rousseau, managing director at Clearvi... [Full Article...]

Riot police surround Hong Kong's Polytechnic University as some protesters hold out

Riot police surround Hong Kong's Polytechnic University as some protesters hold out The American Chamber of Commerce in Hong Kong has called for support for Hong Kong's special status, saying that many US businesses feared that the bill, with the sections addressing export controls and sanctions, could have counter-productive consequences on them. [Full Article...]

Lowe's Store Closings Are Happening In 6 Provinces In 2020

Lowe's Store Closings Are Happening In 6 Provinces In 2020 Eligible employees will be offered the opportunity to transfer to a nearby store. "We're not going to give it away this year", Lowe's president and CEO Marvin Ellison said on the company's third-quarter earnings call Wednesday. When it first opened, store manager Paolo Gallo said about 140 employees worked at the new store, including full-time, part-time and seasonal employees. [Full Article...]

Tesla announces its next auto factory will be near Berlin

Tesla announces its next auto factory will be near Berlin Does Tesla really need an assembly plant in Europe? In the March following the Grohmann acquisition, the firm's founder, Klaus Grohmann, left the company, reportedly because of a disagreement over focusing on Tesla projects rather than those of German-based rivals Daimler and BMW , chatty sources told Reuters at the time, although this was never confirmed. [Full Article...]

Elon Musk: Berlin 'gigafactory' will build Teslas starting with the Model Y

Elon Musk: Berlin 'gigafactory' will build Teslas starting with the Model Y Brandenburg is in a state of "great euphoria", over Elon Musk's announcement that he has picked the German state that surrounds Berlin as the place to build his first European plant, local politician Erik Giese said on Wednesday. The US electric carmaker also plans to locate a research and development base in the German capital. Tesla is also planning to create an engineering and design center... [Full Article...]

Billionaires' wealth falls for first time since 2015

Billionaires' wealth falls for first time since 2015 John Matthews, head of private wealth management and ultra-high net worth business for UBS in the United States said that the report showed the resilience of the USA economy. There were 89 United States tech billionaires at the end of 2018, up from 70 in 2017. "With the growing impact of the digital economy on traditional enterprises, technology entrepreneurs are replacing the traditional gian... [Full Article...]

Chick-fil-A to close debut United Kingdom restaurant after LGBT backlash

Chick-fil-A to close debut United Kingdom restaurant after LGBT backlash Chick-fil-A opened its first branch of the fast-food chain in Reading on 10th October, however, it was revealed that the outlet would be temporary eight days later. A spokeswoman for the centre said " the right thing to do " was to not extend the restaurant's lease beyond the "six-month pilot period". The company said it was "grateful for customer responses to our food" and that the Readin... [Full Article...]

Erdogan says can no longer 'keep track' of Trump's tweets

Erdogan says can no longer 'keep track' of Trump's tweets Troops "are executing a deliberate withdrawal from north-east Syria ", he added. The Kurdish dilemma was apparent in the words of SDF spokesman Mustafa Bali when he said: "We did not have professional jails or professional prisons to keep those prisoners in". [Full Article...]

Hong Kong leader not ruling out military intervention by Beijing

Hong Kong leader not ruling out military intervention by Beijing It alleged that a song advocating " Hong Kong independence" had appeared on the " Apple Music Store" in the southern Chinese city, then issued an ominous warning. China has warned foreign governments to stay out of the protests which they deem as an "internal affair" and have accused some, including Britain and the United States, of fanning anti-China sentiment. [Full Article...]

Government tariff review puts several sectors in jeopardy post-Brexit

Government tariff review puts several sectors in jeopardy post-Brexit Debt is projected to rise substantially in that scenario, climbing to nearly 90%of annual economic output for the first time since the mid-1960s, as the government borrows more to increase spending and kickstart economic growth. "A no-deal Brexit would likely require a fiscal short-term stimulus followed by a swift return to austerity", IFS deputy director Carl Emmerson said. [Full Article...]

Pizza Express hires advisers amid mounting debt fears

Pizza Express hires advisers amid mounting debt fears Popular restaurant chain PizzaExpress is facing an uncertain future after it allegedly hired financial advisers to deal with mounting debts. Jamie Oliver's Italian chain also filed for insolvency in May this year, with all but three of the TV chef's 25 United Kingdom restaurants shutting it's doors. [Full Article...]

Soybeans, corn, wheat retreat from highs, USA crop eyed

Soybeans, corn, wheat retreat from highs, USA crop eyed USDA positioned wheat shares at 2.38 billion bushels vs. the average commerce estimate at 2.318 billion. That was the largest-ever revision to the soyabean crop in any September USDA quarterly stocks report, said Bill Lapp, president of consultancy Advanced Economic Solutions. [Full Article...]