Finance

United States and Canada claim victory as NAFTA saved at the last

United States and Canada claim victory as NAFTA saved at the last The U.S. and Mexico came to a deal at the end of August that will be part of the overarching agreement that includes Canada. If the U.S. were to insert a similar clause into trade deals it is negotiating with the EU and Japan, it would mean Beijing's best hope of trading with the EU, Japan and Canada to offset an extended trade war with the USA would be quashed, Post reported , quoting trade ex... [Full Article...]

New NAFTA deal unlikely to push dairy aisle prices lower, experts say

New NAFTA deal unlikely to push dairy aisle prices lower, experts say Trump claims, its importance can't be underestimated: Trade among Canada , Mexico and the USA touches jobs and company profits in all three places. Moreover, the proposed USMCA sets actual limits on how much Mexican vehicle exports can grow (up to 2.6 million units) and similarly poses a US$108 billion threshold for auto parts from Mexico. [Full Article...]

Brent oil hits highest since 2014 before U.S. sanctions on Iran bite

Brent oil hits highest since 2014 before U.S. sanctions on Iran bite U.S. West Texas Intermediate (WTI) crude futures were flat at $75.30 a barrel, after earlier touching a four-year high of $75.91. Since mid-August, WTI has increased around 17 percent. Consequently, this suggests that China is bowing to pressure from the U.S. to bring purchases down to zero despite previously stating that they would not stop buying Iranian oil. [Full Article...]

Great relations with Modi, India will cut tariff on imports

Great relations with Modi, India will cut tariff on imports Mr Trump made unacceptable demands "and then added all these threats", which gained credibility when Mr Trump actually followed through with tariffs on steel and aluminum, Mr Leblond said . "When we send Harley Davidson motorcycle, and other things to India, they charge us very very high tariffs". He (Modi) said, no body ever spoke to me. [Full Article...]

Alberta dairy farmers anxious about USMCA

Alberta dairy farmers anxious about USMCA According to the dairy industry, the net effect of the increased American allotment will be to allow tens of thousands of tonnes of USA dairy products on Canadian store shelves, at the expense of shelf space now given to Canadian-made items. [Full Article...]

Primera Air ceases operations

Primera Air ceases operations Caroline Allen booked return flights to NY with the airline late last week so she and her husband James could visit friends in the United States to celebrate Thanksgiving. The airline was planning to launch routes from Madrid to New York, Boston, and Toronto next year at prices as low as €149 ($172) each way. If you have Atol protection, then you must be found an alternative flight home and ne... [Full Article...]

Freeland vows Canada's dairy farmers to get 'full compensation'

Freeland vows Canada's dairy farmers to get 'full compensation' In an interview with Jon Erlichman on CTV National News, Chrystia Freeland said the federal government intends to examine the full consequences of giving the U.S. Clarke Gourlay of Parksville' Morningstar Farms said the deal increases the insecurity of the industry. "Domestic market only, for the most part, and it's going to mean I have a smaller paycheque at the end of the day". [Full Article...]

Massive LNG project in northern BC reportedly given the go-ahead

Pierce would not comment on media reports earlier this week suggesting that the boards of JVPs PetroChina and Korea Gas had approved their respective shares of the project. The five partners in the LNG project have agreed to a $40-billion joint venture. The FID is for two processing units or "trains", with first LNG expected before the middle of the next decade. [Full Article...]

Most US cell phones to receive 'Presidential Alert' text on Wednesday

Most US cell phones to receive 'Presidential Alert' text on Wednesday The test message will be a " Presidential Alert " and you cannot opt out of these WEA alerts. That test will assess the effectiveness of sending out "a national message and determine whether improvements are needed". Bush, the announcement last month that the test would be sent sparked some controversy, triggering the specter for some of President Donald Trump using the alerts the way he does Twit... [Full Article...]

Amazon Sets $15 Minimum Wage For U.S. Employees, Including Temps

Amazon Sets $15 Minimum Wage For U.S. Employees, Including Temps U.S. Senator Bernie Sanders , a self-described Democratic socialist, has been vocal about the pay disparity at U.S. corporations and has proposed a bill aimed at making large corporations pay workers more. This wage increase will apply to not only the 250,000 full-time employees that the company has, but also to the 100,000 seasonal employees they hire each year prior to the holidays. [Full Article...]

Amazon raises minimum wage for all US, UK employees

Sen. The increases will include 17,000 Amazon employees as well as 20,000 seasonal workers. The federal minimum wage for the U.S.is now $7.25, though most states have higher minimums. The median pay for an Amazon employee past year was $28,446, according to government filings, which includes full-time, part-time and temporary workers. [Full Article...]

Tesla Stock Is Going Nowhere Fast Despite Elon Musk’s SEC Settlement

Tesla Stock Is Going Nowhere Fast Despite Elon Musk’s SEC Settlement In reaction, Guggenheim analyst Rob Cihra , Tesla's biggest bull, reiterates a Buy rating on TSLA , with a $430 price target, which represents a potential upside of 38% from where the stock is now trading. "The total package of remedies and relief announced today are specifically created to address the misconduct at issue by strengthening Tesla's corporate governance and oversight in order... [Full Article...]

Oil breaks out to highest since 2014

Oil breaks out to highest since 2014 Brent crude, the global benchmark, added $2.25, or 2.7%, to $84.98 and is also at a almost. Higher oil prices and dollar strength, which has battered the currencies of several big crude importers, could hit demand growth next year, analysts said. [Full Article...]

Petrol price crosses Rs 91-mark; cooking gas above Rs 500

Petrol price crosses Rs 91-mark; cooking gas above Rs 500 In Patna, the price of petrol is close to touching the psychological mark of ₹90 per litre, retailing at ₹89.87 on Monday. "Thus the domestic LPG customer is protected against the increase in global prices of LPG", the statement said. The government may choose to subsidize a part of the price but tax will have to be paid at market rates. Amid some speculation, the CEF has not passed on the incre... [Full Article...]

U.S. And Canada Reach Deal To Replace NAFTA

Miles Prodan, the president and CEO of the BC Wine Institute, admits he's anxious about US products being sold in grocery stores on this side of the border. Among the tough issues that needed to be hashed out between Ottawa and Washington were access to Canada's dairy sector, tariffs and a dispute resolution mechanism that the USA wanted to scrap. [Full Article...]

GE Abruptly Fires CEO John Flannery, Appoints Lawrence Culp as Chief Executive

GE Abruptly Fires CEO John Flannery, Appoints Lawrence Culp as Chief Executive In a statement on Monday, GE lauded Culp's tenure at Danaher and said that he "executed a disciplined capital allocation approach, including a series of strategic acquisitions and dispositions", among other activities. The deal expanded GE's exposure to gas, coal and nuclear power . Changing CEOs "won't fix short-term problems at power but Larry, as an outsider, will be able to make the h... [Full Article...]

GE CEO Flannery Ousted After Brief Tenure

GE CEO Flannery Ousted After Brief Tenure John Flannery is being replaced as head of General Electric after a little more than a year on the job. It has not gotten any better. Also in June, GE lost its spot in the blue-chip Dow Jones Industrial Average . GE cited "weaker performance in the GE Power business" as one reason for the change at the top. The company has recruited two renowned turnaround experts to replace Mr Flannery. [Full Article...]

SEC Lawsuit Against Musk Wiped $7.3 Billion From Tesla’s Market Value

SEC Lawsuit Against Musk Wiped $7.3 Billion From Tesla’s Market Value As part of the settlement , the company will appoint a new independent chairman, two independent directors and control Musk's communications. Investors in electric vehicle maker Tesla were buoyed by news that Elon Musk will have to step down as chairman of the firm. [Full Article...]

California net neutrality bill signed by Jerry Brown

California net neutrality bill signed by Jerry Brown The Federal Communications Commission voted 3-2 along party lines to repeal the rules that prevented internet companies from exercising more control over what people watch and see on the internet. It also applies the net neutrality rules to so-called "interconnection" deals between network operators, something the FCC's 2015 rules didn't explicitly do. [Full Article...]

50 million Facebook accounts hacked: All questions answered

50 million Facebook accounts hacked: All questions answered The hack was discovered by the company this week. Facebook said it has patched the vulnerability and reset the access tokens of all the accounts known to have been affected by this breach, but it's not enough to fix the PR damage that's been done. [Full Article...]


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