Markets


Oil Extends Losses As Other Markets Fall, Inventories Rise Oil Extends Losses As Other Markets Fall, Inventories Rise
- October 14, 2018

U.S. West Texas Intermediate (WTI) crude futures were up 80 cents, or 1.1 percent, at $71.77 a barrel, after a 3 percent fall in the previous session. They earlier touched their lowest since September 27 at $81.35, after closing 2.2 per cent lower on Wednesday. Iran's crude exports fell further in the first week of October, according to tanker data and an industry source, as buyers sought alternatives ahead of US sanctions that take effect on November 4. (more...)
Factors beyond producers’ control are impacting oil market - OPEC Factors beyond producers’ control are impacting oil market - OPEC
- October 13, 2018

Meanwhile, EIA expected West Texas Intermediate (WTI) crude oil prices will average about 6 dollars a barrel, lower than Brent prices in 2018 and in 2019. That is down from at least 2.5 million bpd in April, before U.S. President Donald Trump in May withdrew the United States from a 2015 nuclear deal with Iran and re-imposed sanctions. (more...)
Mnuchin Says Trump Respects the Independence of the Fed Mnuchin Says Trump Respects the Independence of the Fed
- October 13, 2018

USA central bankers have raised the benchmark lending rate three times this year, and investors see more than 70 percent probability of another hike in December. President Jimmy Carter in 1979 removed G. William Miller as Fed chairman by offering him the job of Treasury secretary. But one unintended outcome is that raising interest rates can scare off investors and precipitate a sell off in equities. (more...)
Jetliner lands in U.S. after world's longest flight Jetliner lands in U.S. after world's longest flight
- October 13, 2018

Compared to most global long haul flights, which can accommodate up to 544 people (based on an Airbus A380), the A350-900 will accommodate just 161 passengers, made up of 94 seats in premium economy and 67 business class. "Watch all the movies I can, I guess", said Peggy Ang, who is on business trip to Orlando. Airbus said the A350-900URL plane's cabin has higher-than-normal ceilings, larger windows and lighting created to reduce jet lag - all part of an effort to lessen the stresses that ... (more...)
Meet Atlas, the Parkour Robot Who Will Enslave Us All Meet Atlas, the Parkour Robot Who Will Enslave Us All
- October 13, 2018

The YouTube robot sensation famed for previously performing backflips has now mastered the art of parkour , an athletic discipline derived from obstacle course training used by the military. Boston Dynamics' robots are moving in the opposite direction, learning new things at a terrifying rate. It's able to use its arms to lift, carry, and manipulate objects in its environment. (more...)
Elon Musk's tequila is called 'Teslaquila', and he says it's 'coming soon' Elon Musk's tequila is called 'Teslaquila', and he says it's 'coming soon'
- October 13, 2018

Neither company immediately responded to Deadline's request for comment. Tesla has until November 13 to appoint an independent chairman of the board, part of settlements reached last month between Tesla, Musk and USA regulators after Musk tweeted in August that he had secured funding to take the electric auto maker private. (more...)
Facebook confirms 30 million people had personal data stolen in breach Facebook confirms 30 million people had personal data stolen in breach
- October 13, 2018

That suggests Facebook may know or suspect who's behind the breach . The 29 million affected users, along with 1 million whose security tokens were taken but did not appear to have their data stolen, will be receiving customized messages from Facebook identifying specifically which types of information on their profiles, if any, were involved in the breach. (more...)
Ikea plans to open an online store in India next year Ikea plans to open an online store in India next year
- October 13, 2018

Best known for its low-priced flat-pack furniture and sprawling out-of-town stores, Ikea opened 19 new outlets around the globe, including its first in India and Latvia in August. "We will introduce smaller store formats and offer a wide range of flexible and affordable services", Loof said in a statement. The company will also be launching its e-commerce operations by March next year. (more...)
China's September trade surplus with U.S. widens to record $34.13B China's September trade surplus with U.S. widens to record $34.13B
- October 12, 2018

The direct impact and indirect impact of the ongoing trade frictions is "generally controllable", Customs department spokesman Li Kuiwen said Friday. The second round of tariffs that the Trump administration imposed on China came into effect only on September 24, so the increase in exports last month might have been the result of Chinese companies rushing to sell their products before the additional duties were added. (more...)
IMF Chief warns Pakistan against China's involvement in economy IMF Chief warns Pakistan against China's involvement in economy
- October 12, 2018

The rupiah has indeed been under strong downward pressure, especially over the last three months, as a result of monetary tightening and stronger economic growth in the U.S., which has caused higher capital outflows, and the upward trend in global oil prices, which has increased Indonesia's trade deficit and consequently the current account deficit to more than 2.5 percent of gross domestic product (GDP). (more...)
European Union officials warned to prepare for no-deal Brexit European Union officials warned to prepare for no-deal Brexit
- October 12, 2018

The EU suggests Northern Ireland stay aligned with its customs union and single market during that period, and there are signs the British government could accept elements of this plan. At least three eurosceptic Cabinet ministers are said to be considering quitting over the latest concession, which appears to contradict Mrs May's promise earlier this year that the backstop would expire "at the very latest by the end of December 2021". (more...)
Trump calls stock sell-off a correction, says Fed ‘crazy’ Trump calls stock sell-off a correction, says Fed ‘crazy’
- October 12, 2018

Trump instead has placed blame squarely with the Fed. Three have PhDs in economics and three have law degrees. "I'm paying interest at a high rate because of our Fed, " he said. "That doesn't seem especially surprising". "So the Fed is taking its independent course", he said. The FOMC determines the target range for the funds rate and the New York Fed buys or sells Treasury securities to commercial banks to influence the rate by increasing or reducing the supply available. (more...)
Risks to global financial system rise Risks to global financial system rise
- October 11, 2018

Around 32,000 members of the global financial elite are on the Indonesian holiday island for a week of discussions that have been clouded by U.S. President Donald Trump's America First trade policy. Soon after Khan's new administration took office in August, the government had explored all possible avenues of financing, including loans from friendly countries and Pakistani diaspora community for donations, said sources. (more...)
Wall Street tumbles as investors take the knife to tech companies Wall Street tumbles as investors take the knife to tech companies
- October 11, 2018

The benchmark index fell for the fifth straight day, which hadn't happened since just before the 2016 presidential election. Jeweler Tiffany, handbag makers Michael Kors and Tapestry tumbled between 4.9 and 7.2 percent. Berkshire Hathaway dipped 4.1 per cent to $214.64 and reinsurer Everest Re slid 4.6 per cent to $218.97. There have recently been several indications that the USA housing market has cooled, likely in part due to higher rates on mortgages. (more...)
'The Fed has gone crazy': Trump points finger for Wall Street tumble 'The Fed has gone crazy': Trump points finger for Wall Street tumble
- October 11, 2018

Trump told reporters while traveling to Erie, Pennsylvania, for a campaign rally. A stock market correction is defined as a decline of at least 10 percent from the high point of the past 52 weeks, suggesting that major USA indices have further to fall. (more...)
International Monetary Fund lowers South Africa’s economic growth forecasts, urges reforms International Monetary Fund lowers South Africa’s economic growth forecasts, urges reforms
- October 11, 2018

The Deputy Director at IMF's Fiscal Affairs Department, Paolo Mauro, said while a crucial priority for the country was increasing non-oil revenue, the ratio of interest payments on debts continued to rise out of proportion. The situation is getting more and more serious as a result of the US$2 billion secret loans from Credit Suisse and Russian lender VTB for the purchase of naval equipment and a fishing fleet that were backed by Mozambique's financial minister without parliamentary ... (more...)
Trump calls stock sell-off 'a correction,' says Federal Reserve is 'crazy'
- October 11, 2018

The Fed is doing what it thinks is necessary, but I don't like what they're doing because we have inflation really checked and we have a lot of good things happening. The turmoil came a day after the International Monetary Fund slashed its global growth forecast on worries about trade wars and weakness in emerging markets. (more...)
Sears hires advisers for bankruptcy filing ahead of debt payment Sears hires advisers for bankruptcy filing ahead of debt payment
- October 11, 2018

Sears faces US$134 million of debt maturing on October 15, and Lampert's ESL Investments said in a filing last month that the borrowings coming due were among those creating "significant near-term liquidity constraints" for the company. But the retail landscape is littered with out-of-business brands that tried to reorganize in the bankruptcy process and liquidated their businesses instead. (more...)
Dow Jones Industrials Sink 800-plus Points Dow Jones Industrials Sink 800-plus Points
- October 11, 2018

But there were few places to hide Wednesday. Investors see many of these countries as being vulnerable to higher USA interest rates, which can pull away investment dollars. Some of the big losers were stocks that have scored double-digits gains this year. The yield on the 10-year Treasury is 3.20%, the highest level in seven years. (more...)
Google Chromecast 3: New Chromecast released Google Chromecast 3: New Chromecast released
- October 11, 2018

It turns into a smart display when not in use, showing information to such as time, weather, calendar appointments, and commute times. Some commands (like changing the brightness of smart lights) produces an on-screen control to make further adjustments. (more...)

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