Finance

Monetary Policy: RBI cuts key policy rate to 6.25%

Monetary Policy: RBI cuts key policy rate to 6.25% Assuming a normal monsoon in 2019, headline inflation estimates are revised downwards to 2.8 per cent in Q4, FY19, 3.2-3.4 per cent in the first half of FY20 and 3.9 per cent during the third quarter of FY20, with risks broadly balanced around the central trajectory. [Full Article...]

Brent price forecast to US$66 per bbl for 2019: Jadwa Investment

Brent price forecast to US$66 per bbl for 2019: Jadwa Investment Gasoline stocks, however, “continue to climb higher on the East Coast amid strong imports, resulting in a build on the aggregate despite a drop on the Gulf Coast, while distillate stocks have also eased amid lower refinery activity and higher implied demand, ” he said . [Full Article...]

Guyana could soon eclipse Venezuela's oil production

Guyana could soon eclipse Venezuela's oil production At 447.2 million barrels, the EIA said , USA crude oil inventories are still above the seasonal average but not by much. If sanctions compel US oil companies to wind down their business in the Latin American nation, production could sink to 600,000 barrels a day, according to Rapidan Energy Group. [Full Article...]

U.S.' Mnuchin, Lighthizer to hold talks next week in China

U.S.' Mnuchin, Lighthizer to hold talks next week in China Of the Dollars 250 billion in Chinese exports that are subject to United States tariffs, only about six per cent will be picked up by firms in the U.S., according to a report by the UN Conference on Trade and Development (UNCTAD). Coke-Hamilton said. The tech industry has been closely tracking the escalating tariffs imposed by the USA and China on one another. Although these figures don't ... [Full Article...]

Alphabet beats Wall Street estimates, but spending worries investors

Alphabet beats Wall Street estimates, but spending worries investors Google parent company Alphabet says it logged a 23 per cent jump in revenues in the final quarter of 2018, even as losses from its various side projects continue to mount. Among the reasons for higher expenses that weighed on profits: higher content licensing costs for YouTube, more spending on data center operations and research and development, including more hiring of cloud engineers, and heavi... [Full Article...]

HMV stores in Bluewater and Tunbridge Wells set to close after takeover

HMV stores in Bluewater and Tunbridge Wells set to close after takeover HMV called in administrators KPMG for the second time in six years in late December, citing "a tsunami of challenges" facing the company, including the move from traditional sales to digital. They include the Oxford Street branch, where the music and film retailer's first branch was opened in 1921. 'We know the physical media business is here to stay and we greatly appreciate all the support fr... [Full Article...]

Democrats and White House Remain Deeply Divided Over Border Wall

Democrats and White House Remain Deeply Divided Over Border Wall Most survey respondents - 73 percent - also said they want Trump to continue negotiating while keeping the government open, rather than forcing another shutdown when funding expires again in mid-February. President Donald Trump refused to rule out another shutdown but also signaled that he could declare a national emergency to reallocate resources to fund a wall along the southern border. [Full Article...]

Cryptocurrency Exchange Says It Can't Access Millions After CEO Unexpectedly Died

Cryptocurrency Exchange Says It Can't Access Millions After CEO Unexpectedly Died Canadian crypto exchange QuadrigaCX owes its customers about $190 (249 million Canadian dollars). QuadrigaCX's founder Gerald Cotten, 30, died "due to complications with Crohn's disease" while travelling in India to open an orphanage in December, his wife Jennifer Robertson said . [Full Article...]

UK's May says she is 'armed with fresh' Brexit mandate

UK's May says she is 'armed with fresh' Brexit mandate Brussels and London find themselves at an impasse over the final agreement to the UK's exit from the European Union, with the most recent deal having failed in the British Parliament, as the deadline of March 29 looms. May said she is determined to deliver Brexit on time . The shadow chancellor claimed reports Theresa May might offer incentives to pro-Brexit backbenchers was the latest exampl... [Full Article...]

Trump hails great news that Foxconn Wisconsin factory back on track

Trump hails great news that Foxconn Wisconsin factory back on track Foxconn had originally planned to build a larger Generation 10.5 facility for LCD panels but last summer backed away from the plan and opted for the Generation 6 factory, which would produce smaller screens. May 25, 2018: Environmental law firm Midwest Environmental Advocates asks an administrative law judge to block the Lake Michigan withdrawal, arguing it violates the Great Lakes Compact. [Full Article...]

General Motors expected to cut more jobs on Monday

General Motors expected to cut more jobs on Monday The job reductions, part of GM's previously announced plan to reduce its headcount by 15 percent, are coming after more than 2,000 employees accepted voluntary buyouts. The cost-cutting moves are expected to save GM up to $2.5 billion in 2019 and as much as $6 billion by 2020. The automaker also is working with Canadian universities and government officials to assist some 3,000 workers affec... [Full Article...]

Land Rover has shelved the SV Coupe for good

Land Rover has shelved the SV Coupe for good Its design features Jaguar Land Rover's new "Arch" concept, with space to showcase 16 new and 75 used vehicles. Land Rover previewed the halo Range Rover at the 2018 Geneva Motor Show, saying back then that production will be limited to 999 examples, priced at around $300k each. [Full Article...]

US envoy to EU: Customers should avoid Huawei due to security concerns

US envoy to EU: Customers should avoid Huawei due to security concerns Zhang Yansheng, the chief research fellow at the China Centre for International Economic Exchanges (CCIEE) - a government-affiliated think tank - said that fundamental differences over economic issues, political systems and security will not be resolved by the March 1 deadline. [Full Article...]

BP will link bonuses for 36000 workers to climate targets

BP will link bonuses for 36000 workers to climate targets A large group of investors, including Aviva, Hermes, Legal & General and the Church of England's investment fund, have been pressuring BP and other oil groups on the issue for several years. Early in December Shell, having met with investors, made a decision to publish a number of steps which would align it to the goals of the Paris Agreement. [Full Article...]

Anil Ambani's RCom Files For Insolvency To Repay Debt

Anil Ambani's RCom Files For Insolvency To Repay Debt They will implement the debt resolution plan through NCLT . The telecom operator was expected to sell spectrum, towers, fibre and other assets worth Rs 25,000 crore to older brother Mukesh Ambani's Reliance Jio Infocomm Ltd. The government said the deal to trade airwaves does not conform to its guidelines after Jio wrote to DoT refusing to be held liable for any of RCom's past dues. [Full Article...]

America Created 304,000 Jobs in January, Smashing Estimates

America Created 304,000 Jobs in January, Smashing Estimates In January, average hourly earnings for all private-sector workers rose by 3 cents, or 0.1 percent, to 27.56 US dollars, following a 10-cent gain in December. January marked the 100th straight month of jobs growth, by far the longest on record. The December report also had a low initial response rate and its data was revised down sizably today to 222,000 from 312,000. [Full Article...]

Downbeat Amazon outlook takes gloss off record profit

Downbeat Amazon outlook takes gloss off record profit Amazon's shares, which closed up 2.9 percent, to $1,718.73, fluctuated in after-hours trading - falling by more than 1 percent before rising by almost 3 percent. Also, Amazon's purchase of slower-growing Whole Foods is expected to weigh down its robust growth rate. "With so many opportunities, the biggest problem facing Amazon CEO Jeff Bezos is where to focus the attention", he added. [Full Article...]

Amazon and other foreign companies adhere to the new FDI norms

Amazon and other foreign companies adhere to the new FDI norms Amazon and Walmart's Flipkart are now banned from cutting exclusive arrangements with sellers, offering deep discounts or holding any business interest in online merchants on their websites. As a result, users from now on will not be sold products through Appario or Cloudtail by default and Amazon has started removing products that don't comply with the latest regulations including severa... [Full Article...]

Unilever sees 2019 remaining ‘challenging’ with slower sales growth

Unilever sees 2019 remaining ‘challenging’ with slower sales growth Consumer goods giant Unilever has warned of a "challenging" year ahead after falling below sales expectations in the fourth quarter of 2018. "Let me state. Unilever has hired extra warehouses to stockpile Magnum ice creams and deodorants on both sides of the Channel amid growing fears a no-deal Brexit will disrupt the Anglo-Dutch company's supply chain. [Full Article...]

China's official manufacturing PMI shrank for second straight month in Jan

China's official manufacturing PMI shrank for second straight month in Jan The official manufacturing Purchasing Managers' Index (PMI) for January was 49.5, according to the Chinese National Bureau of Statistics. Any reading below 50 indicates a contraction. The numbers were weaker than Thursday's official PMI survey, but both suggested the economy is continuing to slow. To be sure, veteran China watchers typically advise taking its data early in the year with a pinch ... [Full Article...]


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