Markets


India's new central bank chief Urjit Patel prefers a quiet India's new central bank chief Urjit Patel prefers a quiet
- August 27, 2016

Patel, a deputy governor of the Reserve Bank of India ( RBI ) since 2013, was appointed to the top post on Saturday and starts his new role on September 4. From a rating perspective, he said, policies are more important than personalities. Consumer inflation accelerated to 6.07 percent in July, the fourth consecutive month above the RBI's near-term target of 5 percent. (more...)
Volvo And Uber Join Hands To Develop Autonomous Cars
- August 27, 2016

Each vehicle is also equipped with a tablet computer in the back seat, created to tell riders that they're in an autonomous auto and to explain what's happening. "That could be seen as a threat", says Volvo Cars CEO Hakan Samuelsson. A new autonomous vehicle will be built on Volvo's Scalable Product Architecture, the same platform as its XC90, S90, and V90 cars, and the collaboration between Uber and Volvo will focus on the development of that vehicle. (more...)
Stocks Pare Losses on September Rate Hike Worries
- August 27, 2016

In her much-awaited speech at an global gathering of central bankers in Jackson Hole, Wyoming, Yellen did not indicate when the Fed might hike rates. Meanwhile, the Commerce Department reported Friday that USA gross domestic product rose 1.1% in the second quarter, below a previous estimate of 1.2%. (more...)
Markets Right Now: Stocks slip on Wall Street
- August 27, 2016

She also noted that while inflation was still running below the Fed's 2% target, it was being depressed mainly by temporary factors. "Markets were already aware that the case for a rate hike had strengthened - recent economic data has been pretty good, market volatility has been low, and Brexit has not yet produced instability", said David Donabedian, chief financial officer of Atlantic Trust Private Wealth Management, in a note. (more...)
Self-driving taxis take to the road in Singapore
- August 27, 2016

While they drive themselves, safeguards have been put in place, including an engineer who will sit in the front seat and take over via manual controls should anything go wrong. "In Singapore, we have much less uncertainty", Iagnemma said. NuTonomy announced a research partnership with Singapore's Land Transport Authority earlier this month. (more...)
US Stocks Close Mixed After Fed Chair Janet Yellen Talks Rate Hike
- August 27, 2016

The Fed pushed rates to near zero in December 2008, kept them there for seven years and then nudged them up a quarter percentage point last December. The Nasdaq composite dipped 2 points, or 0.1 percent, to 5,210. 20-21 meeting at 24%, up from 21% on Thursday, according to the CME Group's FedWatch too (http://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html) l. (more...)
Russian Hacker Roman Seleznev Convicted After Stealing Two Million Credit Card Accounts
- August 27, 2016

Prosecutors said that from October 2009 to October 2013, Seleznev hacked into retail point-of-sale systems and installed malware to steal credit card numbers from businesses, including restaurants and pizza parlors in Washington state. The defense team argued that Seleznev's computer was tampered with while it was stored at a U.S. Secret Service office. The hacker's father (Valery Seleznev), an ally of Putin's, protested the arrest at the time , saying Roman had " only average computer ... (more...)
Stocks slip into losses in the afternoon after Yellen speech
- August 27, 2016

In contrast, sectors likely to be hurt by higher rates, such as utilities and telecoms, fell. For now, the USA presidential election is not a concern for markets, though comments from Democrat Hillary Clinton about Mylan's pricing of EpiPen hit that stock hard and sent the S&P health-care sector lower. (more...)
Greens to block gay marriage plebiscite Greens to block gay marriage plebiscite
- August 27, 2016

Meanwhile, Liberal MPs have warned that if the legislation for plebiscite is blocked, the issue of marriage equality would also be delayed in the parliament. "I call on Labor and cross bench senators to follow the Greens' lead so that a plebiscite is blocked and we can have a free vote in Parliament instead". (more...)
Stocks rise as Yellen gives upbeat talk on economy
- August 27, 2016

The odds will improve further still if the USA economy adds 180,000 or more jobs this month, he said. SAN FRANCISCO Wall Street will fixate on a wave of USA economic data next week, crested by payrolls data on Friday that could sway expectations about the timing of future interest rate hikes and spark volatility in record-high stock prices. (more...)
Stocks rising as Yellen gives upbeat talk on economy
- August 27, 2016

The yield on the 10-year note, which moves in the opposite direction of the price, rose to 1.59 percent from 1.54 earlier Friday. In her speech in Jackson Hole, Wyoming, Yellen noted that the Fed is moving toward raising interest rates in light of a solid job market and an improved outlook for the economy. (more...)
Bullet hits officer's badge; fleeing suspect dies in wreck Bullet hits officer's badge; fleeing suspect dies in wreck
- August 27, 2016

A police officer's badge deflected a bullet heading for his heart in a gun battle during a auto chase Friday morning that ended in the Cajon Pass. The incident started when officers received a domestic violence call just after midnight on Friday, reports the L.A. (more...)
Biden announces new funding for Amtrak Northeast Corridor Biden announces new funding for Amtrak Northeast Corridor
- August 27, 2016

The railroad station there is named for Biden. He was joined by Deputy Secretary of Transportation Victor Mendez, whose agency is making the loan. "You can't make this country work without rail". "Amtrak is on terrific, strong and solid footing going forward". "Why in this country are we so boneheaded to not understand the essential value of a rail system that is modern throughout the whole country?" "The Northeast corridor is a national economic engine that carries a workforce ... (more...)
Reward Money Increased In Murders Of Two Mississippi Nuns Reward Money Increased In Murders Of Two Mississippi Nuns
- August 27, 2016

Paula Merrill and Margaret Held, nuns found murdered in their MS home, August 25. Rosemarie Merrill on Friday described her sister Paula and the second nun who was killed with her, Margaret Held, as generous women who would give you the shirt off their backs. (more...)
WhatsApp to share user's phone nos with Facebook WhatsApp to share user's phone nos with Facebook
- August 27, 2016

In April 2015, Facebook-owned WhatsApp instituted end-to-end encryption for all communications on its network of more than 1 billion people worldwide. WhatsApp the messaging service that is now worldwide said it would begin sharing phone numbers of its users with its parent company Facebook. Analytics data from WhatsApp will even be used by Facebook to track usage and deter spam. (more...)
Godsey Gibb Associates buys $12448673 stake in Toronto-Dominion Bank (TD) Godsey Gibb Associates buys $12448673 stake in Toronto-Dominion Bank (TD)
- August 27, 2016

Canaccord Genuity upped their target price on shares of Toronto-Dominion Bank from C$59.00 to C$60.00 in a research note on Monday, May 2nd. TD said earnings, excluding one-off items, rose to $2.42 billion ($1.87 billion), or C$1.27 per share, in the third quarter ending July 31 from C$2.29 billion, or C$1.20 per share, a year earlier. (more...)
Tesla to sell quickest-accelerating vehicle in the world
- August 27, 2016

New customers can pay $10,000 for the larger battery pack. The sedan can accelerate from 0 to 60 miles per hour in 2.5 seconds, making it the fastest auto in the world that is now in production, according to Tesla. The upgraded Model X P100D will hit the mark in 2.9sec. Shares of Tesla stock were boosted after CEO Elon Musk took to Twitter Tuesday morning, teasing the announcement . (more...)
Fed's Mester: Makes sense for US to start raising rates
- August 27, 2016

The Fed raised interest rates for the first time in almost a decade in December, but has kept them on hold since then on concern that headwinds from overseas and financial market volatility at home could hurt growth. "Interest rate policy is by far the most flexible, the least intrusive to markets, and has proven capable of targeting low inflation", he wrote. The U.S. (more...)
Florida: New Local Cases of Zika Infection Reported
- August 27, 2016

Hong Kong authorities reported the city's first Zika virus infection Thursday, which they described as an imported case of the disease blamed for birth defects. When mice were infected early in pregnancy, scientists found evidence of Zika virus in the fetal brain. Locally transmitted cases of the virus have so far only been reported in Florida. (more...)
Yellen suggests rate hike is coming but offers no timetable
- August 27, 2016

Instead, she stressed, as she frequently has, that the Fed's rate decisions will depend on whether the freshest economic data continues to confirm its outlook. Others say they foresee no action until December, after the elections, in at the earliest. Her reference to "over the next few years" triggered some market-chatter to the effect that perhaps Yellen might not have been as hawkish as it initially appeared. (more...)

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