Markets


Oil tumbles on oversupply concerns, sinking world stocks
- November 24, 2018

The value of a barrel of oil has dropped by around 20 percent so far in November, in a seven-week streak of losses. Brent crude, the leading global benchmark price, was trading 5 per cent lower at just over $59 a barrel. Iran's exports have dropped by several hundred thousand barrels per day (bpd) this month, a leading tanker-tracking company said on Thursday, suggesting USA sanctions that kicked in this month have scared off many buyers. (more...)
D&G: China shopping sites pull products in ad backlash D&G: China shopping sites pull products in ad backlash
- November 23, 2018

Such platforms are key to retail sales in China , where online shopping is massively popular. Back on Monday, Dolce & Gabbana fell into hot water after an advertisement posted onto Chinese social-media platform Weibo was met by an outcry from followers over perceived racism by the brand. (more...)
Damian Hinds: MPs don't need to 'love every line' of Brexit deal Damian Hinds: MPs don't need to 'love every line' of Brexit deal
- November 23, 2018

Mrs May may struggle to get her deal through Parliament, with a number of her backbenchers vowing to join the Labour opposition in attempting to resign. But the ministers' comments were seized upon by Labour, whose shadow chancellor John McDonnell told an event at Reuters in London that there was "an overwhelming majority opposing anything that smacks of being no-deal". (more...)
Why do we call it Black Friday? Why do we call it Black Friday?
- November 23, 2018

More than 100 shoppers were lined up at 1:30 p.m. outside the JCPenney store in anticipation of the national retailer's 2 p.m. opening. More Best Buy Black Friday deals go live at 8 a.m. Black Friday deals and doorbusters available include 50% off Amazon Echo Dots , $280 off a KitchenAid mixer, and a Toshiba 43-inch Smart TV for $130. (more...)
Dow dives 2.2%, moves into the red for 2018 Dow dives 2.2%, moves into the red for 2018
- November 23, 2018

Facebook, another longtime investor darling that has been falling out of favor, also fell sharply. He said investors are picking companies based on traditional profit and revenue figures instead of the kind of user growth figures that tech companies favor. (more...)
Ride-hailing legislation introduced by B.C. government Ride-hailing legislation introduced by B.C. government
- November 23, 2018

Among other things, the bill would give the Passenger Transportation Board the power to accept applications and set terms and conditions for licences covering taxis and ride-hailing services like Uber and Lyft. Some of the regulations proposed, such as a requirement that drivers have a class four commercial licence, would limit the company's ability to deliver "true" ride-hailing by making it onerous for drivers to sign up and comply, he said. (more...)
Expect Busy Roads and Airports During Thanksgiving Holiday Expect Busy Roads and Airports During Thanksgiving Holiday
- November 22, 2018

The all-time record number of Thanksgiving travelers was set in 2005, with 58.6 million traveling nationwide, 6.9 million statewide and almost 4.3 million in Southern California. Nationwide: The largest growth in holiday travel is by air, at 5.4 percent, with 4.27 million travelers. Officials said the day before Thanksgiving will be the second busiest day to fly, behind the following Sunday, with an estimated 2.93 million passengers flying. (more...)
Spain threatens Brexit deal over Gibraltar status Spain threatens Brexit deal over Gibraltar status
- November 22, 2018

The draft agreement reached last week triggered an avalanche of criticism in Britain and left May fighting to keep her job even as British and European Union negotiators raced to firm up a final deal before a summit on Sunday where European Union leaders hope to rubber-stamp it. (more...)
Amazon mistakenly exposes customer data on eve of major online shopping days Amazon mistakenly exposes customer data on eve of major online shopping days
- November 21, 2018

Amazon customers in the United States and Europe have reported receiving messages from the company, according to tech news website TechCrunch. I'm pretty sure customers receiving this email would very much like to know where their details were disclosed, for how long, and what technical error caused it. (more...)
Apple reportedly cuts production orders for iPhone XS, XS Max and XR Apple reportedly cuts production orders for iPhone XS, XS Max and XR
- November 21, 2018

Production requirements got thrown off by low demand among consumers and by Apple's decision to offer three three new models (it released two each year until 2017), the report said. Apple did not immediately respond to a request for comment. We will only know how good or bad the sales have been for Apple during the first calendar quarter of 2019, but until then we are still expecting an increase in sales over the holidays, especially around Christmas. (more...)
Renault appoints two interim heads, retains Ghosn as chairman Renault appoints two interim heads, retains Ghosn as chairman
- November 21, 2018

However, Ghosn is temporarily incapacitated of his position and the Board of Directors have appointed Thierry Bollore as the temporary Deputy Chief Executive Officer (CEO) who will be leading the management for the time being and will be exercising the same powers which Carlos Ghosn had as the CEO of the company. (more...)
You can now make Skype calls on Amazon Alexa devices You can now make Skype calls on Amazon Alexa devices
- November 21, 2018

Well, it's later in the year, and the new functionality is rolling out starting today. Echo devices will have access to audio calls, while Alexa devices with screens - like the Echo Show or Spot - will allow users to place video calls. (more...)
These Black Friday deals were cheaper at other times of the year These Black Friday deals were cheaper at other times of the year
- November 20, 2018

Black Friday was the most popular pre-Christmas online sales day in the United Kingdom in 2014. Apple is advising users to mark their calendars for the upcoming four-day shopping event that starts this Friday. Black Friday's origin story is shrouded in mystery, with numerous competing myths circulating around the internet. The investigation analysed deals on the websites of Amazon, Currys PC World , Argos and John Lewis , which all heavily promote their Black Friday sales. (more...)
Oil falls after Russian Federation preaches patience rather than production cuts Oil falls after Russian Federation preaches patience rather than production cuts
- November 20, 2018

The market is struggling to find firm footing after a rout that has seen prices fall more than $20 a barrel since early October on global oversupply fears. After advancing to a daily high of $57.55, the barrel of West Texas Intermediate dropped below $56 but was able to settle 30 cents higher at $56.76. (more...)
Carlos Ghosn: Nissan and Mitsubishi shares slump after chairman's arrest Carlos Ghosn: Nissan and Mitsubishi shares slump after chairman's arrest
- November 20, 2018

According to NHK and the Kyodo News Service, Nissan paid Ghosn almost 10 billion yen ($89 million) over five years through March 2015, including salary and other income, but he reported receiving only about half that amount. The Brazilian-born Ghosn also serves as the chairman of Mitsubishi Motors; chairman and CEO of Renault; and chairman and CEO of the Alliance, a carmaking unit consisting of Nissan, Renault, and Mitsubishi. (more...)
RBI to set up expert panel to examine economic capital framework RBI to set up expert panel to examine economic capital framework
- November 20, 2018

The board, while deciding to retain the Capital to Risky Asset Ratio (CRAR) at 9 percent, agreed to extend the transition period for implementing the last tranche of 0.625 percent under the Capital Conservation Buffer (CCB), by up to March 31, 2020, the bank added. (more...)
APEC leaders divided after US-China spat APEC leaders divided after US-China spat
- November 20, 2018

The summit in Papua New Guinea has been overshadowed by speeches from China's president, Xi Jinping , and the USA vice-president, Mike Pence , that appeared to represent competing bids for regional leadership. China has been building its influence in the region, and Chinese businesses are now deeply invested in Pacific island countries. As of 2018, China has invested some $1.8 billion in the economies of the Pacific islands, out of which $632 million was invested in Papua New Guinea. (more...)
Irish PM says hard border highly likely without Brexit deal Irish PM says hard border highly likely without Brexit deal
- November 19, 2018

Speaking about the possibility of a no-deal scenario, the prime minister stressed that it would be extremely difficult to avoid post-Brexit hard border on the island of Ireland. The Irish government has repeatedly warned that physical infrastructure at the border would anger nationalists and could become a target for militants opposed to the peace deal. (more...)
Bitcoin Cash (BCH) Reaches Market Cap of $6.83 Billion Bitcoin Cash (BCH) Reaches Market Cap of $6.83 Billion
- November 19, 2018

The leading cryptocurrency fell to $5,165 earlier today - the lowest level since October 18, 2017 - having breached the crucial support of $6,000 last week. Jihan may not be the only one as Roger Ver's mining pool at Bitcoin .com has also suggested that it will be prepared to redirect hash power from Bitcoin to Bitcoin Cash ABC. (more...)
Nissan chairman Ghosn arrested, to be dismissed by company Nissan chairman Ghosn arrested, to be dismissed by company
- November 19, 2018

Mr Ghosn had already begun shedding some of his responsibilities - he stepped down as chief executive of Nissan previous year, and recently offloaded some day to day responsibilities at Renault as well. Japanese media reported that Ghosn, who is also chairman and chief executive of Nissan's French partner Renault and one of the best known figures in the global vehicle industry, had been arrested . (more...)

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