Finance

Sears prepares to file for bankruptcy in coming days

Sears prepares to file for bankruptcy in coming days On Wednesday, Sears stock tumbled 30% to 41 cents, after the Wall Street Journal reported that it hired advisors to prepare it for a bankruptcy filing . But it has struggled to reinvent itself in the face of online competition from companies such as Amazon.com Inc ( AMZN.O ), as well as from other brick-and-mortar retailers, including Walmart Inc( WMT.N ). [Full Article...]

Google Photos update makes an already smart app even smarter

Google Photos update makes an already smart app even smarter Google Pixel 3XL, Pixel 3, Google Pixel Slate & Home Hub Officially Unveiled . Pixel 3 now starts at $799 ($150 more than last year) while the Pixel 3 XL starts at $899 ($50 more than last year). When you point your camera at information you want to remember or don't feel like typing in - like a URL or QR code on a flyer or an email address on a business card - Google Lens suggests what ... [Full Article...]

Crude oil prices may have peaked

Crude oil prices may have peaked The country previously held oil in storage at Dalian during the last round of sanctions in 2014 that was later sold to buyers in South Korea and India. President Trump chose to leave the deal and reimpose sanctions. As the start date of the US sanctions on Iran's oil is less than four weeks away, the market is jittery and prone to emotional reactions regarding the two key uncertainties over th... [Full Article...]

International Monetary Fund cuts global growth forecasts

International Monetary Fund cuts global growth forecasts It was the first downgrade since July 2016. The new projection is a marginal reduction of the 3.9 per cent projection of last April's World Economic Outlook report . As interest rates rise in advanced economies, prompting investors to take their money in search of higher returns, the IMF said emerging economies should take steps to insulate themselves from an exodus of funds. [Full Article...]

China's central bank cuts reserve ratio for some lenders

China's central bank cuts reserve ratio for some lenders China's central bank said on Sunday that it was planning to make moves to free up CNY750bn ($109bn) to be used for new lending, aimed to stimulate growth in its economy. "There is room for further reductions and I expect another 1 percentage point cut by the year-end", Xu added. Richard Jerram, chief economist at Bank of Singapore, said while the Fed would not be panicked by the increase in wages... [Full Article...]

Iran refutes Saudi claim that can meet post-sanctions oil demand

Iran refutes Saudi claim that can meet post-sanctions oil demand The details provided by Refinitiv Eikon showed the Islamic Republic exported 1.1 million barrels per day (bpd) of crude last week. The United States plans to impose new sanctions targeting Iran's oil sector on November 4 to try to stop the country's involvement in conflicts in Syria and Iraq and bring Tehran to the negotiating table over its ballistic missile programme. [Full Article...]

China trade war: International Monetary Fund cuts global growth forecast

China trade war: International Monetary Fund cuts global growth forecast But the fund lowered China's economic outlook for 2019 to 6.2 per cent, which would be the country's slowest growth since 1990. As stakeholders look for a categorical position of Khan's administration in going or not going to the IMF for financial assistance or the arrangement of funds from alternative resources, the country's stock market remains in a tight spot due to uncertainty. [Full Article...]

USA duo William Nordhaus and Paul Romer win Nobel Economics Prize

USA duo William Nordhaus and Paul Romer win Nobel Economics Prize The two "do not deliver conclusive answers, but their findings have brought us considerably closer to answering the question of how we can achieve sustained and sustainable global economic growth", it said. At a news conference Monday, Romer said his research has left him optimistic that society can solve even a threat as deeply challenging as the warming of the planet. [Full Article...]

Despite US sanctions, India will buy oil from Iran in November

Despite US sanctions, India will buy oil from Iran in November India would lift 9 million barrels of Iranian oil in November, equivalent to about 300,0000 barrels per day (bpd), compared to an average of about 658,000 bpd from April to August, according to data available with Reuters . An industry source who also tracks exports said October shipments were so far below 1 million bpd. The Islamic Republic exported 1.1 million barrels per day (bpd) of crude i... [Full Article...]

United States and UK Governments Back Denial of Supermicro Story

United States and UK Governments Back Denial of Supermicro Story As a reminder, Bloomberg's report stated that Amazon and Apple found suspicious chips on widely used Super Micro servers that could relay information to foreign agents, who could then possibly initiate more intrusive attacks. "Our internal investigations directly contradict every consequential assertion made in the article", Apple claims. "Apple never had any contact with the Federal Bureau of I... [Full Article...]

U.S. reconsiders 'zero tolerance' policy on Iran oil imports

U.S. reconsiders 'zero tolerance' policy on Iran oil imports U.S. sanctions on Iranian oil purchases are due to take effect on November 4. The Joint Comprehensive Plan of Action, a deal reached in 2015 by the Obama administration, meant sanctions on Iran were dropped in exchange for Iran limiting its nuclear activities. [Full Article...]

How to avoid the latest ‘Got Another Friend Request’ Facebook hoax

How to avoid the latest ‘Got Another Friend Request’ Facebook hoax If you're on Facebook, you might have noticed that some of your friends and family have posted scripted messages about accounts being cloned, and not to trust duplicate friend requests if you receive one. I have NO plans to open a new account. Please DO NOT accept a 2nd friend request from "me". "Hi... I actually got another friend request from you yesterday which I ignored so you may want to ch... [Full Article...]

Officials say stop forwarding Facebook message, it’s a hoax

If you are an avid Facebook user, you've probably noticed that quite a few of the people on your friends' list have been posting that they've gotten hacked. Not only should you change your password, but you should also reach out to Facebook for assistance. Facebook really did fess up to a "security issue" a couple of weeks ago, and noted that nearly 50 million accounts may have been affected... [Full Article...]

Fuel price hike: Petrol, diesel rates on the rise again

Fuel price hike: Petrol, diesel rates on the rise again Petrol prices in Bengaluru were at Rs 82.32, whereas rates for diesel were at Rs 73.61. Petrol and diesel prices continued to move upwards today after a brief breather to consumers. Within an hour of the finance minister's press conference, the state governments of Gujarat and Maharashtra announced Value-Added Tax cuts of Rs 2.5 per litre for both petrol and diesel. [Full Article...]

5 million pounds of beef recalled

5 million pounds of beef recalled The agency posted a 33-page list of the recalled items, which were shipped to retail locations and institutions across the country. More than 6.5 million pounds of raw beef products were voluntarily recalled Thursday from a plant in Arizona where federal officials had previously complained about "egregious" and "inhumane" livestock conditions. [Full Article...]

Tokyo's famous Tsukiji fish market shuts down after 83 years

Tokyo's famous Tsukiji fish market shuts down after 83 years HUNDREDS of fishmongers on forklifts and trucks rose before dawn in Tokyo to join a mammoth exodus of vendors as the world-famous Tsukiji market relocates to a new site . Takeshi Yoshida, a fish wholesaler, said Tsukiji had left "its mark on history" but it was time to " pass the baton ". The origin of the market dates back to 1657, when the Tokugawa Shogunate set up a fish market near Sumida... [Full Article...]

Unilever scraps plan to leave London headquarters

Unilever scraps plan to leave London headquarters Announcing the decision, which will be a major blow for the board, Unilever's chairman Marijn Dekkers , said they will now consider the "next steps". Unilever plc shares are listed in London and NY, while Unilever NV (currently based in Rotterdam) has shares listed in Amsterdam and NY. Earlier this week, influential proxy advisory firm PIRC recommended shareholders vote against the move. [Full Article...]

US considering waivers on Iran oil sanctions

US considering waivers on Iran oil sanctions Islamic Republic of Iran enjoys high potential in exporting oil to target markets and put country's oil exports volume per day at 2.8 million, he maintained. U.S. retail gasoline prices topped $3/gal in 13 states as of Friday, with the national average of $2.91/gal sitting just below the peak summer price in May. [Full Article...]

StatsCan says unemployment rate dipped in September on big part-time job gains

StatsCan says unemployment rate dipped in September on big part-time job gains Statistics Canada's labour force survey compiled job data from July, August and September in all three Northern territories. Most of the gains were made in Ontario and British Columbia provinces, and were mostly attributable to part-time hiring, said Statistics Canada. [Full Article...]

Asian shares shaken as bonds continue their march higher

Asian shares shaken as bonds continue their march higher Canada's main stock index also fell on Friday, despite gains in industrial and health care shares and strong jobs data. The Dow Jones Industrial Average lost 78 points, or 0.3 percent, to 26,749. The dollar index fell 0.06 percent, with the euro up 0.28 percent to $1.1508. Among active index stocks, OCBC Bank shed 0.89 per cent to $11.19, while Singtel dipped 0.93 per cent to $3.21. [Full Article...]


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