Economy

by | February 08, 2019 | 01:02

The repo rate is the rate at which the Reserve Bank lends short-term money to the banks, while the reserve repo rate is the rate at which the central bank borrows money from commercial banks. The MPC expects inflation to ease from this point (2.8 percent for ongoing quarter; 3.2-3.4 percent for first half of next fiscal). It further said that in spite of soft crude oil prices and the lagged impact of the recent depreciation of the Indian rupee on net exports, slowing global demand could pose ...

by | February 08, 2019 | 00:55

USA sanctions on Venezuela's state oil company could also lift prices, though they have yet to trigger any sharp increase. Brent crude, the global benchmark, slipped 4 cents to $61.94 a barrel by 1331 GMT. Elsewhere, supplies from OPEC face heightened uncertainty after Libya's eastern leader Khalifa Haftar said his forces have taken control of the country's largest oil field.

by | February 07, 2019 | 15:22

USA crude output stayed at a record-high 11.9 million barrels a day. That was smaller than the 3.7 million-barrel rise expected by analysts polled by S&P Global Platts. The key story supporting the market and driving the price action is the OPEC-led production cuts. "The market will struggle to compare disappointing API Inventory numbers against reports of a decrease in Venezuelan output, OPEC cuts, and weak economic data".

by | February 07, 2019 | 13:09

Treasury Secretary Steven Mnuchin said Wednesday there are no plans yet for President Donald Trump and Chinese President Xi Jinping to meet soon in hope of finalizing a trade deal, though Mnuchin plans to travel to China's capital next week to continue the negotiations.

by | February 07, 2019 | 12:57

Besides this fact, Zuckerberg does not doubt Facebook's power of improving people's lives and transforming the world. Zuckerberg has consistently defended the social network's business of keeping the service free by targeting ads based on interests, adamant the social network does not sell people's data.

by | February 07, 2019 | 02:27

The 35-year-old Guaido, the head of Venezuela's National Assembly, has galvanized the opposition with a hopeful message. The countries had earlier given Maduro an "ultimatum" to call for elections. Italy on Monday blocked a joint European Union position to recognize Guaido as interim president, diplomatic sources said. "We will seek to help him to do so by whatever means possible", the official said.

by | February 06, 2019 | 02:42

Alphabet said its Q4 results slightly surpassed analyst expectations. Alphabet, which is valued at $790 billion, is one of the world's largest public companies , with interests spanning cloud computing, smartphones and self-driving cars.

by | February 06, 2019 | 02:11

Meanwhile, a spokeswoman with Nova Scotia RCMP confirmed Tuesday they are assisting with an investigation into QuadrigaCX . Users have very little recourse to recover those funds, said Christine Duhaime, a lawyer and founder of the Digital Finance Institute.

by | February 06, 2019 | 01:27

The New York Democrat said on the Senate floor Tuesday that Trump talks about unity in his annual addresses to the nation but "spends the other 364 days of the year dividing us". There's good reason to believe the speech, like so many others apparently penned by his main speechwriter Stephen Miller, will be a series of empty clichés paired with lurid and possibly pornographic descriptions of violence committed by the dark-skinned immigrants who haunt Trump's imagination.

by | February 05, 2019 | 03:58

GM announced that 4,000 employees will be fired. GM is expected to release its fourth-quarter earnings report on Wednesday. The demoralizing news might lead to a larger than expected drop in the company's stock on Wall Street. The Cruze compact will be discontinued in the US starting this year. Production is scheduled to end at the plants throughout the year. Canada spokeswoman Jennifer Wright says the salaried employee reductions in Canada have mostly been accomplished already through ...

by | February 05, 2019 | 03:39

It comes just days after Musk's Starship prototype was knocked over by 50mph winds in Texas and suffered extensive damages. The videos show the rocket engine firing, and thus creating a wave of multicoloured flames. So suggests Musk's images shared throughout the day. By January, Musk had done an exclusive interview with Popular Mechanics detailing why the Starship would be made of stainless steel.

by | February 04, 2019 | 08:27

Fox told Sky News in a pre-recorded interview. MPs vote that the Irish backstop should be removed from the Brexit withdrawal agreement . "That is what Parliament instructed me to do on Tuesday night", May said asserted. Corbyn said speaking to charities in Glasgow, "The people who are bearing the brunt of nine years of austerity can not wait years for a general election".

by | February 04, 2019 | 04:15

Drivers will be guaranteed the pay rate even during slow periods, incentivizing companies to keep drivers busy, the Wall Street Journal reports. "The vast majority of drivers on the Via platform are already earning more than the city's new minimum wage", the company wrote in a statement.

by | February 04, 2019 | 03:15

Orlando police said the person had jumped from the Hyatt Regency Hotel, which is part of the airport's main terminal. The sight sent "a wave of screams" through the atrium, Cathy Imburgia, who was in line for TSA PreCheck when the incident happened, said.

by | February 04, 2019 | 01:24

Growth of 100,000 jobs per month is required in the United States to keep pace with growth in the working-age population. The BLS also indicated that almost all of this increase was in the private sector and may reflect the impact of the partial federal government shutdown .

by | February 03, 2019 | 13:29

In December previous year, the government tightened norms for FDI-funded ecommerce companies including Flipkart and Amazon and said such entities can not exercise ownership or control over inventory . Hours before the Thursday deadline, numerous items sold by seller Cloudtail were removed from Amazon's website, as the company owns indirect stake in Cloudtail .

by | February 03, 2019 | 12:31

The prime minister will head to an European Union summit in Brussels this weekend as she bids to secure a sign off from the bloc's 27 other leaders on the terms of Britain's divorce. While May saw this as an opportunity to prevent the United Kingdom from leaving the EU without a deal, European officials on Wednesday insisted there was no room to rewrite the negotiated deal.

by | February 03, 2019 | 08:58

Michigan State Police released a statement Wednesday evening asking citizens to ease the burden on the natural gas supply by dropping thermostats as low as 65 degrees when at home, blocking leaks where heat might escape, and unplugging devices not in use.

by | February 03, 2019 | 07:44

Ahuja was the main point of contact for the sell-side automotive analysts I speak to regularly, and he was tasked with smoothing over relations with the Street-including Bernstein's Toni Sacconaghi-after Musk referred to one of Sacconaghi's questions as "boneheaded" on Tesla's disastrous May 2018 earnings call.

by | February 01, 2019 | 05:58

But because the global market environment that existed when the project first was announced in 2017 has shifted, "this has necessitated the adjustment of plans for all projects, including Wisconsin". Foxconn fell short of its employment goal in 2018, hiring 80 fewer people than the 260 it promised and missing a $9.5 million state tax credit. The state's Republican former Governor Scott Walker - a vocal supporter of the plant - was defeated late a year ago by a Democrat who said that the ...

by | February 01, 2019 | 05:39

The Tesla CEO also projected a fourth-quarter profit, but scaled back from the third quarter number. Musk told investors that he was cautiously optimistic that the automaker could turn a profit in the first three months of 2019-and could turn a profit for every quarter thereafter.

by | February 01, 2019 | 05:27

Congress President Rahul Gandhi on Thursday took a jibe at Prime Minister Narendra Modi after a financial daily reported that the unemployment rate in the country hit a 45-year high. "You can not be growing at 7.2% and saying that there are no jobs being created in the economy", he said. The CPI (M) too slammed the government for suppressing the data and demanded that the government release the NSSO report at the earliest.

by | February 01, 2019 | 04:46

US President Donald Trump touted the promise, made at the end of two days of talks in Washington , as evidence that the two sides were making progress. In an interview with the Daily Caller published Thursday, the president again pointed to the 25 percent tariff the US has placed on $50 billion in Chinese goods, majority in high technology, and an additional ten percent in tariffs on $200 billion in Chinese goods.

by | February 01, 2019 | 04:24

The statements mark a broader shift toward risk management and follow months of criticism from President Donald Trump , who hectored the central bank for raising rates too much. Payrolls processor ADP reported that the United States private sector added 213,000 jobs in January, which beat forecasts for gains of 178,000. Contracts tied to the Fed's policy rate continued to price about a one-in-four chance of a hike in 2019, and contracts maturing in 2020 were signaling a small but rising ...

by | January 31, 2019 | 08:40

Shares of the company, considered an economic bellwether, tumbled 10 per cent Monday, the worst sell-off in more than seven years. The major US equity indexes took a hit on Monday, driven lower by weaker-than-expected quarterly earnings, guidance and revenue from two bellwether USA corporations that highlighted the negative impact the ongoing trade dispute between the United States and China was having on China's slowing economy.

by | January 31, 2019 | 07:57

Ghosn also called accusations by both Nissan and Mitsubishi that he received almost 8 million euros in improper payment through a Dutch-based joint venture of the two automakers "a distortion of reality", and argued his luxury residences in Rio de Janeiro and Beirut were approved by Nissan's legal department.

by | January 31, 2019 | 06:41

Risky wind chills of -20 to -30 are expected. But the unofficial motto of the U.S. Postal Service apparently doesn't include the cold. Notably absent from that famous phrase is "extreme cold". In that city and elsewhere, the wind chill is even lower, driven by strong winds. The USPS website cites below zero wind chills and unsafe conditions to drivers for the cancellations.

by | January 31, 2019 | 06:23

On Jan. 28, the United States imposed sanctions on Venezuela's state-owned oil company, Petroleos de Venezuela SA, that could potentially deprive the Maduro government of $11 billion in export revenues over the next year. "If the people in Venezuela want to continue to sell us oil, as long as the money goes into blocked accounts we will continue to take it". US National Security Adviser John Bolton , in response to Saab's request, tweeted that "there will be serious consequences for ...

by | January 31, 2019 | 05:27

The fight to control Venezuela , which has the world's largest oil reserves, has intensified with new USA sanctions and legal moves that may bring the arrest of opposition leader and self-declared interim president Juan Guaido . Wednesday's action would not be a major march, but a series of small concentrations, he said. Over the past week, 35 people have died in protests - most shot by security forces as they took part in late-night pot-banging demonstrations in slums, according to the ...

by | January 30, 2019 | 03:22

Apple on Tuesday said its revenue fell 5 percent in the first quarter, compared with $88.3 billion a year earlier. However, the firm's shares gained nearly 4% in after-hours trade on Tuesday, as the firm proved more resilient than feared.

by | January 30, 2019 | 01:54

Venezuela's attorney general, Tarek Saab, has asked the country's supreme court to open a preliminary investigation against self-proclaimed president Juan Guaidó , and to freeze the opposition leader's accounts. Kremlin spokesman Dmitry Peskov said the Kremlin shares the view of the Venezuelan government that the sanctions are "illegal" and sees them as a tool of unfair competition on part of the United States.

by | January 30, 2019 | 01:41

The amendment of Dominic Grieve from the governing Conservative Party would force the government to allow for six days of debate prior to the official Brexit day on alternatives to the prime minister's plan so that lawmakers would have the chance to reach a consensus on the best way forward.

by | January 29, 2019 | 06:43

With public services including aviation safety beginning to buckle under the strain of withheld wages and suspended operations, Trump agreed Friday to reopen the federal government temporarily but with no additional funding for the wall. "Government is open again, but we can not forget what shutdowns mean: unnecessary anguish for millions of Americans", said Rep. Madeleine Dean of Pennsylvania in a tweet.

by | January 29, 2019 | 03:52

Prosecutors filed a pair of indictments in federal court in recent weeks that were unsealed Monday - one in Washington state and one in NY - against Huawei , the latest development in a broader US crackdown against the Chinese company.

by | January 29, 2019 | 02:20

On Sunday, Israel and Australia also said they would be recognizing Guaido as Venezuela's interim president, joining the United States , Canada and a host of Latin American and European countries. At that time, the US government froze Libya's assets in answer to Libya's campaign against protesters during the Arab Spring uprising. He gave U.S.