Markets


Donald Trump signs USMCA with Mexico and Canada at G-20
- November 30, 2018

U.S. President Donald Trump , Canadian Prime Minister Justin Trudeau , and Mexican President Enrique Peña Nieto signed a trade agreement to replace NAFTA on Friday-a deal some lawmakers and advocacy groups say is still fundamentally flawed as it stomps on the rights of workers and the environment and empowers "the corporate one percent at the expense of the rest of us". (more...)
Trudeau urges 'Donald' to scrap metals tariffs amid USMCA signing Trudeau urges 'Donald' to scrap metals tariffs amid USMCA signing
- November 30, 2018

The agreement includes a new rule, for example, that a vehicle will only be freed from tariffs if 40 per cent or more of its contents are produced by workers earning $16 (U.S.) per hour or more. 'It's been so well reviewed I don't anticipate much of a problem, ' he said. "A vast number of technical details need to be scrubbed and wrapped up", Foreign Affairs Minister Chrystia Freeland said on Monday, the Canadian Press reported . (more...)
Fed Chief's Remarks On Economy And Interest Rates Cheer Investors Fed Chief's Remarks On Economy And Interest Rates Cheer Investors
- November 30, 2018

He also noted that the economy had yet to feel the full impact of the hikes. Trump has repeatedly attacked Powell for continuing to raise the benchmark lending rate, which Trump says undermines the work he is doing to juice the United States economy. (more...)
Ohio Sen. Brown: Trump Supports American Cars Act Ohio Sen. Brown: Trump Supports American Cars Act
- November 30, 2018

The factory announcements likely represented GM's opening bid in contract talks with the union that start next year, said Kristen Dziczek, vice president of labor and industry with the Center for Automotive Research, an industry think tank in Ann Arbor, Michigan. (more...)
Trump sets up stormy G20 with Putin snub Trump sets up stormy G20 with Putin snub
- November 30, 2018

The eyes of the global currency market will be on Saturday's meeting between U.S. President Donald Trump and Chinese leader Xi Jinping , with some analysts seeing even a modicum of progress toward easing trade tensions as enough to sink the dollar. (more...)
Canada’s Senate Passes Back-To-Work Legislation Ending Postal Strike Canada’s Senate Passes Back-To-Work Legislation Ending Postal Strike
- November 30, 2018

The Senate voted to pass Bill C-89 on Monday, and it received Royal Assent on the same day. The government deemed passage of the bill to be urgent due to the economic impact of continued mail disruptions during the busy Christmas holiday season. (more...)
Microsoft has caught up to Apple in market valuation Microsoft has caught up to Apple in market valuation
- November 30, 2018

Apple Inc .is no longer the most valuable US company after Microsoft Corporation surpassed it in terms of market capitalization. The news may come as a shock to many considering that less than two months ago, Apple peaked above $1.2 trillion while Microsoft recorded a market value of $887 billion. (more...)
German police search Deutsche Bank offices in connection with Panama Papers case German police search Deutsche Bank offices in connection with Panama Papers case
- November 29, 2018

German police raided Deutsche Bank offices on Thursday, seeking evidence in a money laundering investigation into the practice of hiding money offshore, to elude tax collectors and government regulators. The bank's shares dropped by 2.7 percent on news of the investigation. In 2016 alone, more than 900 customers are alleged to have transferred some 311m euros to one such company set up in the British Virgin Islands, she said. (more...)
Nasdaq could launch Bitcoin futures in early 2019 Nasdaq could launch Bitcoin futures in early 2019
- November 29, 2018

While announcing the product, Gurbacs said that the company has collaborated with the commodity futures trading commission to bring in new standards for surveillance and custody. Separately, VanEck is still trying to win approval from the Securities and Exchange Commission to launch the first-ever bitcoin ETF . Furthermore, Gurbacs also said that the Nasdaq Futures would follow the latest regulatory updates. (more...)
Oil Futures Plummet 7 Percent to Lowest Level In Over A Year Oil Futures Plummet 7 Percent to Lowest Level In Over A Year
- November 29, 2018

Oil prices have collapsed 30 percent in less than two months on concern that booming USA shale production and faltering demand - combined with unprecedented output from the Saudis and Russian Federation - will trigger a new surplus next year. (more...)
Unifor's Dias says Trudeau willing to join fight to save GM Oshawa Unifor's Dias says Trudeau willing to join fight to save GM Oshawa
- November 29, 2018

Some of the closing plants could reopen in the future depending on the outcome of next year's labor negotiations with the United Auto Workers union. Production began on November 7, 1953, and in the 1980s the plant employed roughly 23,000 people. (more...)
U.S. stocks jump on 'dovish' speech by Fed chief, Dow +2.5% U.S. stocks jump on 'dovish' speech by Fed chief, Dow +2.5%
- November 29, 2018

That's the Fed's job, and it was long before Mr. Powell took the reins. The S&P 500 index surged 61.61 points, or 2.3 percent, to 2,743.78, its biggest gain since March 26. "We know that moving too fast would risk shortening the expansion". Higher interest rates tend to slow economic growth over time as well as pressure stock prices. (more...)
IPhone buyers could 'very easily' stand paying 10% more with China tariff IPhone buyers could 'very easily' stand paying 10% more with China tariff
- November 28, 2018

In September, the Trump administration announced a 10 per cent tariff on US$200 billion of Chinese goods, and said the rate will rise to 25 per cent on January 1. Of course, Apple is far from the only USA tech company to be potentially affected, though it's certainly among the most high-profile. Although President Donald Trump promised Apple products will not be hit with tariffs, he suggested otherwise ahead of his summit with the Chinese leader Xi Jinping , scheduled for later this ... (more...)
Nearly one in four pubs have closed down since the financial crisis Nearly one in four pubs have closed down since the financial crisis
- November 28, 2018

The number of pubs closing down is due to "the big pub chains consolidating their businesses around bigger bars", said the ONS. The remaining pubs and bars appear to have soaked up the custom from those pubs that have closed down. Meanwhile, figures show seven in 10 workers in the industry are paid less than living wage. Around 70% working in United Kingdom pubs are earning below this. (more...)
Local lawmakers call idling of GM Lordstown plant a new 'Black Monday' Local lawmakers call idling of GM Lordstown plant a new 'Black Monday'
- November 28, 2018

The Detroit-based company's shares surged. GM Chief Executive Officer Mary Barra is trying to make the company leaner as USA auto demand slides from a record in 2016 and sales in China - GM's other profit centre - are also in a slump. Canadian Prime Minister Justin Trudeau said he spoke with Barra and expressed "deep disappointment". The U.S. plants are in places that have been economically devastated by job losses and pressure on wages for decades, which helped lead to the 2016 election of ... (more...)
China Warns Trump: Trade War Could Lead to Economic Collapse Like 2008 China Warns Trump: Trade War Could Lead to Economic Collapse Like 2008
- November 28, 2018

Oil Shifts Risks on Inflation, Fed Shares in Apple Inc fell after hours in reaction to Trump's comments that tariffs could also be placed on laptops and iPhones imported from China. "What would the United States do?" Some components, like the smartphone's glass cover, are manufactured in the USA and shipped for assembly in China. (more...)
Apple regains most valuable company title over Microsoft Apple regains most valuable company title over Microsoft
- November 27, 2018

Microsoft had rallied by more than 3 per cent during Monday's official trading session, when the market notched broad gains. It was also the first time since 2013 that any company topped it, ever since Apple eclipsed Exxon Mobil in size, according to an analysis of Bloomberg data. (more...)
General Motors to slash 14,700 jobs in U.S. and Canada General Motors to slash 14,700 jobs in U.S. and Canada
- November 27, 2018

The company says 5,901 hourly employees and 804 salaried employees work at these plants. "Those jobs have left OH but they're all coming back, they're all coming back", he said. GM's stock price surged on the heels of the announcement , closing at 37.65, up almost 5 percent on the day. After we are sworn in, Jon Husted and I will be visiting the Detroit Auto Show in January to make our case in-person to GM about the future of the plant. (more...)
Bank of America ATM Gives $100 Instead of $10 in Houston Bank of America ATM Gives $100 Instead of $10 in Houston
- November 27, 2018

Word quickly spread on social media, causing people to line up outside of the bank. The ATM was temporarily shut down after officials arrived at the scene. Should the bank have gone in the other direction, authorities say that theft charges could have been laid on those not willing to cooperate. A police officer spotted one of the social media posts after about two hours. (more...)
Argentina considers charges against Saudi crown prince over Yemen war, Khashoggi murder Argentina considers charges against Saudi crown prince over Yemen war, Khashoggi murder
- November 27, 2018

Fortunately we have a USA intelligence community that's really good at a lot of us in the first branch of government, the article one branch, the Congress, have heard from the intelligence community and I will be getting another classified briefing on Tuesday about this. (more...)

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