Markets


USA puts 'maximum pressure' on Iran as sanctions resume USA puts 'maximum pressure' on Iran as sanctions resume
- November 05, 2018

The sanctions bring to an end all the economic benefits the USA granted Tehran for its 2015 nuclear deal with world powers, though Iran for now continues to abide by the accord under which it limited its enrichment of uranium. The reimposition of the sanctions came as the U.S.is focused on Tuesday's congressional and gubernatorial elections. Mr Rouhani said on state TV on Monday his nation was is in a "situation of economic war" and was "confronting a bullying power". (more...)
BOOMING: Economy Roars With 250,000 New Jobs in October BOOMING: Economy Roars With 250,000 New Jobs in October
- November 05, 2018

The average number of monthly job gains in the final two years of the Obama administration was 211,000, according to data from the Bureau of Labor Statistics . After revisions, job gains have averaged a robust 218,000 over the past three months, well above the gain needed to keep up with population growth. Businesses are staffing up at a rapid pace in response to healthy consumer spending and strong economic growth. (more...)
2 reported killed after wall of Amazon building collapses in Baltimore 2 reported killed after wall of Amazon building collapses in Baltimore
- November 05, 2018

The fire department said the weather-related collapse happened at the Amazon Fulfillment Centre late Friday. Amazon said on Saturday two people were killed when part of a distribution warehouse collapsed in severe weather in Baltimore. A storm rolled through the area bringing down the 50-foot wall and forcing those in the building to evacuate, according to NBC News . Farther west, roof damage to several buildings - along with numerous downed trees - were reported in Mount Airy, Maryland ... (more...)
The story of Apple and the iPhone in 3 charts The story of Apple and the iPhone in 3 charts
- November 04, 2018

Apple is widely expanding the use of its facial recognition unlocking system in iPhones and iPads, which uses special lasers that are still produced by only a handful of suppliers. Apple sold 9.7 million iPads during the quarter, gaining share in almost every market it tracked. The iPhone XS costs £999 while the larger-screened XS Max is £1,099. (more...)
China wants to ‘very badly’ strike a trade deal with US China wants to ‘very badly’ strike a trade deal with US
- November 04, 2018

He stressed that the United States has made significant progress in trade with China. "The best possible outcome of the Xi-Trump meeting would be a suspension of imposing tariffs on each other, but the U.S. So talking about ending the battle could help Trump boost the market, which the president has made a key barometer of his success. This is not what China wants to see, said the Chinese president. (more...)
Tesla envisions ‘partial presence’ in India by 2019 end Tesla envisions ‘partial presence’ in India by 2019 end
- November 04, 2018

Mr Musk's comments came a day after Apple released the results for its fiscal 2018 fourth quarter ended September 29. Mark Truby, Ford's vice president of communications, then responded to Musk on Twitter , alluding to the new production line Tesla built this summer under a temporary, tent-like structure and taking a veiled shot at Tesla's production issues. (more...)
Turkey exempt from United States sanctions on Iranian oil Turkey exempt from United States sanctions on Iranian oil
- November 04, 2018

Mnuchin says the US has informed SWIFT that it would be subject to USA sanctions if it provides financial transfer services to "certain designated Iranian financial institutions". Following the Trump administration's announcement of renewed sanctions against Iran , set to go into effect on Monday, anti-war groups are warning the move tosses aside diplomacy in favor of paving the path towards war. (more...)
Manufacturing activity surges in October at its quickest pace in four months Manufacturing activity surges in October at its quickest pace in four months
- November 04, 2018

A sub-index showed total new orders increased at a faster pace, though growth in export orders moderated slightly. It marked the first time that back-to-back declines have been recorded since 2013. "The key area of concern remained tariffs, which were widely reported to have contributed to another month of stalled export sales and a steep rise in prices for many inputs". (more...)
Labor Dept. figures show rising wages -- and possibly soon, inflation Labor Dept. figures show rising wages -- and possibly soon, inflation
- November 03, 2018

The employment cost index , which tracks the hiring cost for US employers quarterly, rose 0.8 percent during the third quarter, beating the estimated 0.7 percent that economists surveyed by Refinitiv ahead of Wednesday's release predicted. (more...)
Facebook revenue, user growth falls short of expectations Facebook revenue, user growth falls short of expectations
- November 03, 2018

This figure was higher by 9% than in September of a year ago. The largest portion of that revenue - 92 percent - came from mobile advertising up from 88 percent in the third quarter of 2017. Suitable ads are hard to make, he added. "I think it is pretty smart for them to do politically ー partially because Apple and their CEO Tim Cook has been so unusually candid about his opinion on Facebook recently and data privacy ー to kind of draw them into the mix", deputy technology editor at Quartz, ... (more...)
Tesla driver auto-parks vehicle from office and Elon Musk approves Tesla driver auto-parks vehicle from office and Elon Musk approves
- November 03, 2018

USA regulators have demanded Tesla hand over information as part of a criminal investigation into whether Elon Musk's electric vehicle maker misled investors over its production figures. "Should the government decide to pursue an enforcement action, there exists the possibility of a material adverse impact on our business, results of operation, prospects, cash flows, and financial position", Tesla's filing reads. (more...)
Get a FREE reusable red cup from Starbucks Friday! Get a FREE reusable red cup from Starbucks Friday!
- November 03, 2018

The coffee chain's rolling out its annual holiday cups . The campaign served as a lightning rod of controversy , with some praising and some criticizing the brand for apparently featuring a lesbian couple. To accompany the drinks, Starbucks is also bringing back some old favorite holiday treats , including Iced Snowman Cookies and Peppermint Brownie Cake Pops, and releasing some new ones: Penguin Cake Pops, Pistachio Honey Croissants, Sugar Plum Cheese Danishes, and Chocolate Swirl ... (more...)
Crude oil futures fall 0.31 per cent on weak global cues Crude oil futures fall 0.31 per cent on weak global cues
- November 03, 2018

Both benchmarks posted their worst monthly drop since July 2016 in October, with WTI down nearly 11% and Brent falling almost 9%. Prices were little changed in post-settlement trade after industry group the American Petroleum Institute reported United States crude inventories rose 5.7 million barrels last week, more than analysts' forecast for a 4.1 million-barrel build. (more...)
Pakistan likely to get huge economic package from China: Fawad Chaudhry Pakistan likely to get huge economic package from China: Fawad Chaudhry
- November 03, 2018

President Xi told the Pakistani premier that he highly valued the two countries' relations, reaffirming they were "all-weather" friends. "Khan has posited that Chinese and Saudi financial assistance will reduce the amount Pakistan needs to borrow from the International Monetary Fund, mitigating Pakistan's susceptibility to the United States demands that its CPEC debt be transparent". (more...)
Google Canada Employees Stage Walkout Over Sexual Misconduct Allegations Google Canada Employees Stage Walkout Over Sexual Misconduct Allegations
- November 02, 2018

The email didn't mention the reported incidents involving Rubin, DeVaul or anyone else, but Pichai didn't dispute anything in the Times story . Google employees in NY take to the streets. Protesting Google employees want to end Forced Arbitration clauses, increase the transparency around the misconduct policy and safety for women wanting to make a report of sexual harassment. (more...)
Disgraced drunk Japan Airlines pilot was 'almost 10 times over limit' Disgraced drunk Japan Airlines pilot was 'almost 10 times over limit'
- November 02, 2018

The driver of a crew bus at Heathrow Airport smelled alcohol on the co-pilot and reported it to police, Japan's NHK public television said. He was found to have 189mg of alcohol per 100ml of blood in his system - the legal limit for a pilot is 20mg. (more...)
Trump Hints China Trade Moves for Argentina G20 After Xi Call Trump Hints China Trade Moves for Argentina G20 After Xi Call
- November 02, 2018

Separately, the South China Morning Post - also citing unnamed sources - reported that Mr Trump had offered to host a dinner for the Chinese president after the G20 summit. semiconductor company Micron Technology Inc. "Also had good discussion on North Korea!" The United States has already imposed tariffs on $250 billion worth of Chinese goods, and China has responded with retaliatory duties on $110 billion worth of US goods. (more...)
Crude Oil Analysis: Oil Waivers Raises Risk of Key Support Break Crude Oil Analysis: Oil Waivers Raises Risk of Key Support Break
- November 02, 2018

The International Energy Agency on Tuesday said that high oil prices were hurting consumers and could dent fuel demand at a time of slowing global economic activity. A waiver will come as a big relief to Indian Oil and MRPL, the two largest Iranian oil consumers. The US has agreed to let eight countries - including Japan, India and South Korea - keep buying Iranian oil after it reimposes sanctions on the OPEC producer on November 5, a senior administration official said. (more...)
United States firms banned from supplying Chinese smartphone chip maker United States firms banned from supplying Chinese smartphone chip maker
- November 02, 2018

In an attempt to cut off a Chinese state-backed semiconductor maker from U.S. exports of components, software and technology goods, . the U.S. Commerce Department has placed trade restrictions on Fujian Jinhua Integrated Circuit, . Credit: Nor Gal/ShutterstockThere's some more economic drama (pun intended) rising between the US and China. Micron went to the federal district court of northern California to accuse UMC of hooking up with Jinhua to build a DRAM lab, and headhunting Micron ... (more...)
Stocks dip again on worries about tech, tariffs Stocks dip again on worries about tech, tariffs
- November 01, 2018

In response, Beijing said it would impose taxes on 5,207 USA imports worth about United States dollars 60 billion. The study notes , "despite the fact that more than 70% of USA companies consider the suspension of investment in China and moving some or all production overseas, only half of Chinese companies support this approach", reports UKRINFORM. (more...)

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