Markets


Political unrest in Italy causes share prices to drop across the world Political unrest in Italy causes share prices to drop across the world
- May 31, 2018

Italy searched yesterday for a last-minute exit from nearly three months of political turmoil, with its biggest party looking to make a renewed attempt to form a coalition government with the right-wing League. Mattarella said: "Every day, the ( bond ) spread goes up, it raises our debt" costs. After voters flocked to the 5-Star Movement and League Nord, the populist parties had agreed to form a governing coalition and backed little-known lawyer Giuseppe Conte as a compromise candidate ... (more...)
This airline is launching the world's longest flight in October This airline is launching the world's longest flight in October
- May 31, 2018

Singapore now has 21 A350s in its fleet with 46 more on order, including seven of the ULR long-range version. Super long-haul flights are becoming more frequent with aircraft efficiency keeping costs down, and the airlines able to charge a premium over flights which include a stop-off. (more...)
De Beers to start marketing lab-grown diamonds De Beers to start marketing lab-grown diamonds
- May 31, 2018

The strategy will create an even greater price gap between mined and lab diamonds. But the company adopted an "if you can't beat them join them" stance on Tuesday as it introduced a man-made line of blue, pink and white diamonds under the brand Lightbox Jewelry that will sell for as little as $200, or roughly a tenth of what a mined gem costs. (more...)
Tesla Model 3 recommended by Consumer Reports after brake software fix Tesla Model 3 recommended by Consumer Reports after brake software fix
- May 31, 2018

All Tesla cars have mobile data connections that allow them to download software updates "over the air" just as cell phones and tablet computers do. "Now, when drivers adjust their seat position using the power controls along the edge of the driver's seat, prompts to adjust the car's mirrors and steering-wheel position appear on the center touch screen. (more...)
State Dept. to Impose Visa Restrictions on Chinese Citizens State Dept. to Impose Visa Restrictions on Chinese Citizens
- May 31, 2018

The final tariff list will be made public by June 15 with the new import taxes taking effect shortly thereafter. China responded the next day with a $50 billion list of its own, which heavily targeted agricultural and chemical products and which Beijing has vowed to impose as soon as the us moves forward with its tariffs. (more...)
Indigenous activists eye oil spill at Kinder Morgan pumping station Indigenous activists eye oil spill at Kinder Morgan pumping station
- May 30, 2018

While Prime Minister Justin Trudeau and Alberta Premier Rachel Notley have been adamant that the project is good for the entire country, B.C. Premier Joe Horgan and indigenous groups in B.C. "We'll get that pipeline built", Prime Minister Justin Trudeau told reporters as he headed into a cabinet meeting. The government would also be financially responsible for developing the project, which could cost billions above and beyond the pipeline's purchase price. (more...)
BMO and Simplii are warning customers that 'fraudsters' may have breached BMO and Simplii are warning customers that 'fraudsters' may have breached
- May 30, 2018

The customers whose details were leaked were contacted by CBC News said that they were "very distressed" by the event. BMO also said it has notified and is working with authorities as it continues to assess the situation. Both banks recommend that customers be vigilant and check banking statements for any irregularities or indicators of potential fraud. In both cases, the attackers have threatened to publish the customer data. (more...)
Oil hits multi-week lows on fears of growing supplies Oil hits multi-week lows on fears of growing supplies
- May 30, 2018

It collapsed from almost $100 a barrel to $50 and then it sank below $30 in early 2016. This year, the price of oil went up from between $60 to $80 per barrel, a development that severely affects an economy like that of Zimbabwe, since is a non-producing oil country. (more...)
Faux pas: Petrol, diesel prices cut by 1 paisa, not 60 paise Faux pas: Petrol, diesel prices cut by 1 paisa, not 60 paise
- May 30, 2018

This was rectified to 1 paisa a litre . However, within a span of a few hours, those changes were deleted and instead a measly reduction of 1 paise a litre in both the auto fuels was announced. The revised petrol prices in metropolitan cities are - Delhi: Rs 77.83 per litre , Mumbai: 85.65, Kolkata: 80.47 and Chennai: 80.80. Delhi has the cheapest price among all metros and most state capitals. (more...)
World stocks fall for sixth day but Italy, euro in mini-bounce World stocks fall for sixth day but Italy, euro in mini-bounce
- May 30, 2018

New Italian elections would help decide whether that is the case. Similarly, short-dated Italian bond yields - a sensitive gauge of political risk - fell almost half a per cent from half-decade highs after suffering their worst day in nearly 26 years on Tuesday. (more...)
Tesla Model S allegedly in Autopilot hits parked police auto Tesla Model S allegedly in Autopilot hits parked police auto
- May 30, 2018

This week, Palo Alto-based Tesla said Autopilot was not engaged when a Model S veered off a road and plunged into a pond outside San Francisco, killing the driver. Cota said . Tesla's semi-autonomous Autopilot mode has come under scrutiny following other recent crashes. Despite Tesla's instructions to drivers before they start using Autopilot, the automaker's critics have called on the company to disable the feature until it can be made safer. (more...)
U.S. announces 25 per cent new tariffs on Chinese tech goods U.S. announces 25 per cent new tariffs on Chinese tech goods
- May 30, 2018

In what appears to be an effort to ratchet up pressure on China to make greater concessions in ongoing trade negotiations, the Trump administration announced today it was moving forward with tariffs and other trade restrictions associated with USA claims of intellectual property theft by Chinese enterprises. (more...)
Economics - Luxembourg firm to buy United Kingdom sandwich chain Pret A Manger Economics - Luxembourg firm to buy United Kingdom sandwich chain Pret A Manger
- May 29, 2018

Tuesday said it would acquire Pret, as the chain is commonly known, from private equity owner Bridgepoint Advisers Ltd . The company will give 1,000 pounds to each of its 12,000 employees when the deal is completed, he said on Twitter . JAB, whose owners the publicity-shy Reimann family are descended from Ludwig Reimann, a chemist who in the 19th century joined the chemicals business founded by Johann Adam Benckiser and married into Benckiser's family, has also made a string of deals ... (more...)
Which Starbucks locations are closed for racial-bias training May 29? Which Starbucks locations are closed for racial-bias training May 29?
- May 29, 2018

The training is typically created to get people to open up about implicit biases and stereotypes in encountering people of color, gender or other identities. Starbucks said the arrests never should have occurred and announced the mass closures of its stores for the afternoon of training. Starbucks management received a version of the bias training this week, Sherrilyn Ifill, the president and director-counsel of the NAACP Legal Defense and Education Fund told CNN. (more...)
Federal Bureau of Investigation urging people to restart routers after thousands infected by 'foreign actors' Federal Bureau of Investigation urging people to restart routers after thousands infected by 'foreign actors'
- May 29, 2018

The FBI said the size and scope of the attack is "significant", and added that the malware can attack routers produced by various manufacturers, as well as "network-attached storage devices by at least one manufacturer". Now, those attempts will be redirected to the FBI-controlled server, which will help identify infected devices. The FBI is trying to thwart a malware system linked to Russian Federation that has infected hundreds of thousands of internet routers, and they're asking for ... (more...)
Italy in crisis after president rejects Eurosceptic as economy minister Italy in crisis after president rejects Eurosceptic as economy minister
- May 29, 2018

And the sell-off in Italian bonds deepened, with the yield on two-year debt breaking through the 2% barrier. The 10-year rate hit 2.6% on Monday, up sharply from 1.7% last month. Mr. Mattarella, as head of state, has the power to approve cabinet ministers. The EU is in full panic about the implications of Italy reviewing staying in the euro. (more...)
No end in sight as fuel price surges for 13th day No end in sight as fuel price surges for 13th day
- May 29, 2018

Across all forecourts, the average was even higher with prices rising by almost 8.5p a litre. With consumers feeling the heat of surging fuel prices , there have been demands and suggestions from various quarters, including from within the government as well as opposition, for immediate action to curb the prices. (more...)
Return to pre-deal oil output levels possible, says Russia's Novak Return to pre-deal oil output levels possible, says Russia's Novak
- May 28, 2018

The meeting of the Joint OPEC-non-OPEC Ministerial Monitoring Committee (JMMC) in June will address the figures for the possible increase in the oil output within the Vienna deal among other issues, Russian Energy Minister Novak said on Friday. (more...)
The Expanse revived by Amazon for season 4 following fan outrage The Expanse revived by Amazon for season 4 following fan outrage
- May 28, 2018

In the case of The Expanse , which is produced by Alcon Entertainment , it found itself on the chopping block in its third season simply because of money. They had hashtags like #SaveTheExpanse trending on Twitter, they put up an online petition that reached almost 140K signatures, and they even flew a banner over the Amazon studios and also launched a replica of the Rocinante into low orbit! The pair also thanked fans of the series for "the staggering outpouring of support from ... (more...)
Traveling For The Memorial Day Holiday? You're Not Alone Traveling For The Memorial Day Holiday? You're Not Alone
- May 28, 2018

The highest prices were reported in Metropolis, Illinois. "There is concern these prices could affect groceries and agricultural products", he said. Only 31 percent said they will be driving more than 500 miles round trip, compared to 56 percent in 2017. They stopped in Roanoke to fill up with gas. (more...)