Markets
Saudi Arabia goes beyond commitment to lowering oil product, export: minister
- January 17, 2019
Al-Falih said earlier that Aramco was planning to issue its first worldwide bond, probably worth around US$10 billion, to fund part of the acquisition of a majority stake in petrochemical giant Sabic from the Saudi sovereign wealth fund. Benchmark U.S. crude stood at $51.59 a barrel in NY. Last year, media reported that Aramco was planning a US$40-billion bond sale to fund the acquisition that would expand its presence in petrochemicals, but it dropped this plan. (more...)
- January 17, 2019
Al-Falih said earlier that Aramco was planning to issue its first worldwide bond, probably worth around US$10 billion, to fund part of the acquisition of a majority stake in petrochemical giant Sabic from the Saudi sovereign wealth fund. Benchmark U.S. crude stood at $51.59 a barrel in NY. Last year, media reported that Aramco was planning a US$40-billion bond sale to fund the acquisition that would expand its presence in petrochemicals, but it dropped this plan. (more...)
China calls proposed US legislation against Huawei, ZTE 'hysteria'
- January 17, 2019
T-Mobile accused Huawei of stealing the technology behind a robot T-Mobile had developed to test mobile phones. Huawei is a national champion but has always been viewed with suspicion in Washington, with its equipment banned from American communications networks. (more...)
- January 17, 2019
T-Mobile accused Huawei of stealing the technology behind a robot T-Mobile had developed to test mobile phones. Huawei is a national champion but has always been viewed with suspicion in Washington, with its equipment banned from American communications networks. (more...)
WATCH British MPs Hold Final Debate and Vote on Brexit Deal
- January 17, 2019
Britain's opposition Labour Party leader Jeremy Corbyn speaks to parliament on the Brexit deal. A no-confidence vote could come as early as Wednesday if Mr Corbyn tables a motion as a point of order in the immediate aftermath of the "meaningful vote". (more...)
- January 17, 2019
Britain's opposition Labour Party leader Jeremy Corbyn speaks to parliament on the Brexit deal. A no-confidence vote could come as early as Wednesday if Mr Corbyn tables a motion as a point of order in the immediate aftermath of the "meaningful vote". (more...)
Ford and Cadillac SUVs, Toyota sports car star at auto show
- January 17, 2019
Shares of Tesla ( TSLA ) tumbled 3.7 percent as manufacturers from Detroit to Japan unveiled new competition for buyers in the electric vehicle maker's key market at the Detroit Auto Show . It claims we'll see one new model every six months through 2021. "GM's future EV platform, which Cadillac will be the first to use, will be flexible, allowing the company to respond quickly to customer preferences with a relatively short design and development lead time", the automaker said. (more...)
- January 17, 2019
Shares of Tesla ( TSLA ) tumbled 3.7 percent as manufacturers from Detroit to Japan unveiled new competition for buyers in the electric vehicle maker's key market at the Detroit Auto Show . It claims we'll see one new model every six months through 2021. "GM's future EV platform, which Cadillac will be the first to use, will be flexible, allowing the company to respond quickly to customer preferences with a relatively short design and development lead time", the automaker said. (more...)
Cathay Pacific accidentally discounts business-class tickets - again
- January 16, 2019
Cathay Pacific made worldwide headlines and caused a buying frenzy when round-trip, first-class tickets from Vietnam to North America were briefly discounted from about $23,000 to just under $1,500, and business-class seats were less than $1,000 on New Year's Eve. (more...)
- January 16, 2019
Cathay Pacific made worldwide headlines and caused a buying frenzy when round-trip, first-class tickets from Vietnam to North America were briefly discounted from about $23,000 to just under $1,500, and business-class seats were less than $1,000 on New Year's Eve. (more...)
Car, Truck Of The Year Revealed At The Detroit Auto Show
- January 16, 2019
Voted on by no fewer than 60 North American journalists - including your humble Motor Mouth - the North American Car, Utility and Truck of the Year (NACTOY) prizes are the highlights of automotive award season. The judges evaluate finalists on value, innovation, design, performance, safety, technology and driver satisfaction. Kona was the first Hyundai compact utility vehicle model to win in the utility vehicle of the year category. (more...)
- January 16, 2019
Voted on by no fewer than 60 North American journalists - including your humble Motor Mouth - the North American Car, Utility and Truck of the Year (NACTOY) prizes are the highlights of automotive award season. The judges evaluate finalists on value, innovation, design, performance, safety, technology and driver satisfaction. Kona was the first Hyundai compact utility vehicle model to win in the utility vehicle of the year category. (more...)
M&S names 17 stores for closure, with loss of 1,000 jobs
- January 16, 2019
More than 1,000 jobs at Marks & Spencer are at risk as the retailer announced its latest round of store closures as part of a drastic transformation plan. 'Where we have closed stores, we are continuing to see an encouraging number of customers choosing other nearby locations and shopping on M&S.com'. (more...)
- January 16, 2019
More than 1,000 jobs at Marks & Spencer are at risk as the retailer announced its latest round of store closures as part of a drastic transformation plan. 'Where we have closed stores, we are continuing to see an encouraging number of customers choosing other nearby locations and shopping on M&S.com'. (more...)
Brexit deal result: Theresa May’s plan rejected by MPs in parliament
- January 16, 2019
The 230-vote margin of defeat was by far the worst suffered by any Government in a meaningful division since at least the First World War and in normal circumstances would be enough to force a Prime Minister from office. It is unclear whether Brussels would accept any changes to the Brexit deal suggested by MPs. And a group of Conservative party rebels, led by three former ministers, have published a draft bill that, if passed, would compel the government to request a delay on Brexit to ... (more...)
- January 16, 2019
The 230-vote margin of defeat was by far the worst suffered by any Government in a meaningful division since at least the First World War and in normal circumstances would be enough to force a Prime Minister from office. It is unclear whether Brussels would accept any changes to the Brexit deal suggested by MPs. And a group of Conservative party rebels, led by three former ministers, have published a draft bill that, if passed, would compel the government to request a delay on Brexit to ... (more...)
Supermac’s wins long running trademark battle with McDonald’s
- January 16, 2019
It's a unique victory when you take on the golden arches and win", McDonagh, Supermac's managing director, said. Supermac's managing director Pat McDonagh said: "We wholeheartedly welcome this judgement as a vindication of small businesses everywhere that stand up to powerful global entities". (more...)
- January 16, 2019
It's a unique victory when you take on the golden arches and win", McDonagh, Supermac's managing director, said. Supermac's managing director Pat McDonagh said: "We wholeheartedly welcome this judgement as a vindication of small businesses everywhere that stand up to powerful global entities". (more...)
Huawei founder says his company does not spy for Chinese government
- January 16, 2019
And last week, Poland security services charged a Huawei manager with espionage against the country on behalf of China. Ren dismissed fears over the security of Huawei's equipment, saying "no law in China requires any company to install mandatory backdoors (that could be used for spying)" and added the company had had "no serious security incidents". (more...)
- January 16, 2019
And last week, Poland security services charged a Huawei manager with espionage against the country on behalf of China. Ren dismissed fears over the security of Huawei's equipment, saying "no law in China requires any company to install mandatory backdoors (that could be used for spying)" and added the company had had "no serious security incidents". (more...)
Ford and Volkswagen launch global alliance
- January 16, 2019
This committee will be led by Hackett and Diess and will include senior executives from both companies. Ford officials said the VW pickups will initially be available only in the South American, European and African markets. Yet Volkswagen is expected to introduce its own electric auto based on the MEB architecture in the U.S.in 2020, the VW ID Crozz, a small crossover vehicle. (more...)
- January 16, 2019
This committee will be led by Hackett and Diess and will include senior executives from both companies. Ford officials said the VW pickups will initially be available only in the South American, European and African markets. Yet Volkswagen is expected to introduce its own electric auto based on the MEB architecture in the U.S.in 2020, the VW ID Crozz, a small crossover vehicle. (more...)
Democrats Refuse to Attend Working Lunch to End Shutdown - White House
- January 16, 2019
White House Press Secretary Sarah Sanders said instead of a bipartisan lunch, nine House Republicans are confirmed to attend. Rep. Nita Lowey of NY, the top Democrat on the Appropriations Committee, said the bills offer "additional options" to end the shutdown and would give lawmakers time for negotiations on border security and immigration. (more...)
- January 16, 2019
White House Press Secretary Sarah Sanders said instead of a bipartisan lunch, nine House Republicans are confirmed to attend. Rep. Nita Lowey of NY, the top Democrat on the Appropriations Committee, said the bills offer "additional options" to end the shutdown and would give lawmakers time for negotiations on border security and immigration. (more...)
Canadian Air Traffic Controllers Send Pizza to American Counterparts Amid Government Shutdown
- January 16, 2019
The Moncton (YQM) and Gander (YQX) air traffic controller's association left a "PIZZA!" note explaining they'd ordered 32 pizzas from Gino's in Ronkonkoma, New York that were delivered Saturday evening to help feed the workers amid the government shutdown . (more...)
- January 16, 2019
The Moncton (YQM) and Gander (YQX) air traffic controller's association left a "PIZZA!" note explaining they'd ordered 32 pizzas from Gino's in Ronkonkoma, New York that were delivered Saturday evening to help feed the workers amid the government shutdown . (more...)
Theresa May’s Brexit deal overwhelmingly rejected by MPs
- January 16, 2019
But tonight's vote tells us nothing about what it does support. Downing Street insisted its deal was not dead, but effectively admitted it had lost control of the Brexit process by saying it would open talks with MPs from all parties about what sort of agreement could get through the House of Commons. (more...)
- January 16, 2019
But tonight's vote tells us nothing about what it does support. Downing Street insisted its deal was not dead, but effectively admitted it had lost control of the Brexit process by saying it would open talks with MPs from all parties about what sort of agreement could get through the House of Commons. (more...)
Trump predicts United States will reach trade deal with China
- January 16, 2019
And China's total exports fell 4.4 percent in December from a year earlier, while imports dropped 7.6 percent, reflecting sluggish demand at home and overseas. Rapidly falling exports could point to rising unemployment, said Nomura economist Lu Ting. In December 2018, therefore, China imported 9.23 million tons of gas, both by pipeline and as LNG, up 17 percent on the year. (more...)
- January 16, 2019
And China's total exports fell 4.4 percent in December from a year earlier, while imports dropped 7.6 percent, reflecting sluggish demand at home and overseas. Rapidly falling exports could point to rising unemployment, said Nomura economist Lu Ting. In December 2018, therefore, China imported 9.23 million tons of gas, both by pipeline and as LNG, up 17 percent on the year. (more...)
TSA: Tokyo-bound passenger with gun undetected in Atlanta
- January 15, 2019
Miami International Airport said it planned to reopen Concourse G on Monday. Airport officials said they plan to do the same on Sunday and Monday out of concerns they wouldn't have enough employees to operate all the security checkpoints . (more...)
- January 15, 2019
Miami International Airport said it planned to reopen Concourse G on Monday. Airport officials said they plan to do the same on Sunday and Monday out of concerns they wouldn't have enough employees to operate all the security checkpoints . (more...)
Trump to speak at New Orleans farmer convention
- January 15, 2019
Sen. Lindsay Graham says he's offered President Donald Trump a possible solution, though it may just be wishful thinking. They can't apply for financial aid the federal government is giving farmers hurt by Trump's trade policies because of the shutdown. (more...)
- January 15, 2019
Sen. Lindsay Graham says he's offered President Donald Trump a possible solution, though it may just be wishful thinking. They can't apply for financial aid the federal government is giving farmers hurt by Trump's trade policies because of the shutdown. (more...)
China-U.S. Trade Gap Grew to Biggest Ever in 2018
- January 14, 2019
Imports increased 15.8 percent a year ago, resulting in a trade surplus of $351.76 billion, the country's lowest since 2013. Exports rose 7.1 percent year on year to 16.42 trillion yuan last year, while imports grew 12.9 percent to 14.09 trillion yuan, resulting in a trade surplus of 2.33 trillion yuan, which narrowed by 18.3 percent. (more...)
- January 14, 2019
Imports increased 15.8 percent a year ago, resulting in a trade surplus of $351.76 billion, the country's lowest since 2013. Exports rose 7.1 percent year on year to 16.42 trillion yuan last year, while imports grew 12.9 percent to 14.09 trillion yuan, resulting in a trade surplus of 2.33 trillion yuan, which narrowed by 18.3 percent. (more...)
How the government shutdown is hurting a DC beer brewer
- January 14, 2019
Craig Purser heads the National Beer Wholesalers Association and says large beer makers in the US are also anxious about the bureau being furloughed. Because the government's been shutdown, there's been a backlog of labels to be approved over those two weeks that have to be taken care of before any new applications can be reviewed. (more...)
- January 14, 2019
Craig Purser heads the National Beer Wholesalers Association and says large beer makers in the US are also anxious about the bureau being furloughed. Because the government's been shutdown, there's been a backlog of labels to be approved over those two weeks that have to be taken care of before any new applications can be reviewed. (more...)
USDA and FDA Still Feeling the Effects of Government Shutdown
- January 14, 2019
Hundreds of FDA inspectors have been furloughed due to the shutdown. "The functions that can most directly impact consumer safety will continue, to the best of our abilities", Gottlieb tweeted , "subject to the legal and financial limitations of the current circumstances". (more...)
- January 14, 2019
Hundreds of FDA inspectors have been furloughed due to the shutdown. "The functions that can most directly impact consumer safety will continue, to the best of our abilities", Gottlieb tweeted , "subject to the legal and financial limitations of the current circumstances". (more...)
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Honda Plans To Close Its UK Swindon Factory, Says Report