Markets


China industrial output growth at 17-year low, investment up:The Asahi Shimbun China industrial output growth at 17-year low, investment up:The Asahi Shimbun
- March 17, 2019

China's property investment accelerated in the first two months of the year driven by strong demand in its hinterland and defying a decline in sales, government curbs in bigger markets and a broader economic slowdown. Benchmark rebar prices on the Shanghai Futures Exchange have climbed 10 percent in the past two months and hit a peak of 3,908 yuan ($582.82) a tonne on February 11, the highest level since late August. (more...)
Uber plans to kick off IPO in April Uber plans to kick off IPO in April
- March 17, 2019

As per reliable sources, the deal would value Uber's autonomous vehicle unit between $5 billion to $10 billion and would allow it to offload part of its vastly expensive asset, mainly at a time when it faces scrutiny from investors in an IPO (initial public offering) planned for the coming months. (more...)
Flight staff threaten to remove woman for 'inappropriate outfit' Flight staff threaten to remove woman for 'inappropriate outfit'
- March 16, 2019

O'Connor claimed that the airline staff had been "sexist and misogynistic" because they did not ask a male passenger in shorts and a vest to cover up. O'Connor said a manager then "went to get [her] bag to remove [her] from the flight". She said on her Instagram account that she is proud for having stood up for herself. (more...)
Tesla walks back its plan to close most showrooms Tesla walks back its plan to close most showrooms
- March 16, 2019

Just last month , Musk said he was "certain" that Tesla vehicles would be able to operate without driver intervention by the end of 2019, pending regulatory approval. Tesla vendors contacted by CNBC say they didn't hear from the company regarding Model Y production until after the Twitter reveal. This year also saw Tesla break ground on a new factory in Shanghai , which is planned to house production of the Model Y after its initial production at the company's Reno, Nevada, ... (more...)
United Kingdom cuts growth forecast for 2019 - Hammond United Kingdom cuts growth forecast for 2019 - Hammond
- March 16, 2019

Philip Hammond referred to the British economy as "remarkably robust" during today's Spring Statement. Hammond added that the United Kingdom economy was expected to grow by 1.4 percent in 2020, unchanged from the government's October forecast. (more...)
AOC accuses Wells Fargo CEO of financing 'caging' of children at border AOC accuses Wells Fargo CEO of financing 'caging' of children at border
- March 16, 2019

That may not be enough to soothe members of the House Financial Services Committee, led by Rep. Maxine Waters. "Wells Fargo's ongoing lawlessness and failure to right the ship suggests the bank - with approximately $1.9 trillion in assets and serving one in three US households is simply too big to manage", Waters said. (more...)
What is Pi Day? What is Pi Day?
- March 16, 2019

We're talking pizza pies and baked pies which both owe their existence to circles! The meal kit service is offering a pretty sweet Pi Day deal for first time subscribers: free dessert for a year! But it's also a day full of deals at restaurants. (more...)
Stocks rise on tame inflation outlook, dollar eases Stocks rise on tame inflation outlook, dollar eases
- March 16, 2019

USA producer prices edged barely higher in February, in the smallest annual increase since June 2017, the latest sign of tame inflation that supports the Federal Reserve's "patient" approach to future interest rate hikes. "If they manage to achieve cross-party support for a deal, likely a "softer Brexit" sort of a deal - this could potentially be very good news for United Kingdom assets", said Russel Silberston, Co-Head of Multi Asset at Investec Asset Management. (more...)
Jury awards $29M in J&J baby powder cancer case Jury awards $29M in J&J baby powder cancer case
- March 16, 2019

Just past year, a jury decided that Johnson & Johnson had to pay more than $ 4 billion in damages to a group of women who claimed that asbestos in its products caused their ovarian cancers. "Hundreds of internal J&J documents showed the truth that it has been hiding for years". Talc and asbestos are often mined together from metamorphic rocks, particularly in North Carolina, Alabama, Vermont and northern Italy. (more...)
Spotify files complaint against Apple for its unreasonable 30% tax Spotify files complaint against Apple for its unreasonable 30% tax
- March 16, 2019

It can include limitations around outreach to users, delays or blocks to app updates, and preventing Spotify from integrating with devices and services like HomePod and Siri. The European Commission said it has received Spotify's complaint, which it is assessing under its "standard procedures". He writes that Apple continues to give themselves an unfair advantage at every turn. (more...)
Nissan, Mitsubishi executives exit as Ghosn empire is dismantled Nissan, Mitsubishi executives exit as Ghosn empire is dismantled
- March 15, 2019

New Renault Chairman Jean-Dominique Senard will head an alliance board to include the CEOs of Renault , Nissan and third alliance member Mitsubishi, the companies said this week, pledging a "new start" for their partnership. Senard also said Ghosn should be considered innocent until proven guilty. He faces charges of under-reporting his salary at the Japanese automaker by about $82 million over almost a decade - charges he has called "meritless". (more...)
Oil up on reduced USA output estimate, stalled Venezuelan exports Oil up on reduced USA output estimate, stalled Venezuelan exports
- March 15, 2019

At 9:36 AM EST on March 13, United States crude oil prices are at $57.71 per barrel-17 cents below the highest level for USA crude oil active futures since November 16. "While the revision is small, the comforting part for bulls was that the direction of the revision was down rather than up", Harry Tchilinguirian, global oil strategist at BNP Paribas in London , told the Reuters Global Oil Forum. (more...)
Two Facebook executives to leave company Two Facebook executives to leave company
- March 15, 2019

In addition to being one of Facebook's earliest employees and a pivotal decision maker on core products like the News Feed, Cox was also widely assumed to be next in line should Mark Zuckerberg ever step away from his perch. Cox and Daniels are among a string of executives who've left Facebook since 2017. "This will be a big project and we will need leaders who are excited to see the new direction through". (more...)
Tesla to unveil Model Y SUV as electric vehicle competition heats up Tesla to unveil Model Y SUV as electric vehicle competition heats up
- March 15, 2019

As the name implies, this variant will focus on maximizing range and be able to cover 300 miles (482 km) on a single charge. All up, the cabin offers 66 cubic feet of storage space. CEO Elon Musk emceed the event at Tesla's design studio in Hawthorne, Calif. The risk is "quite low" Musk told analysts in January. As a point of interest, Tesla CEO Elon Musk a few weeks back said that the Model Y would be about 10% bigger than the Model 3. (more...)
Disney says Fox purchase to be final by March 20 Disney says Fox purchase to be final by March 20
- March 15, 2019

Combining with Disney are 21st Century Fox's critically-acclaimed film production businesses, including Twentieth Century Fox , Fox Searchlight Pictures and Fox 2000, which together offer diverse and compelling storytelling businesses and are the homes of Avatar , X-Men , Fantastic Four and Deadpool , as well as The Grand Budapest Hotel , Hidden Figures , Gone Girl , The Shape of Water and The Martian . (more...)
OPEC cuts forecast for global crude demand in 2019 OPEC cuts forecast for global crude demand in 2019
- March 15, 2019

U.S. West Texas Intermediate (WTI) crude futures were at $58.62 per barrel, up 36 cents, or 0.62 percent, from their last settlement. While it may be just as problematic as the notion of global oversupply that dominated analytical fears until recently, the perception of a tightening market continued to result in gains for crude prices, with US oil settling a substantial 2.4 percent higher on Wednesday. (more...)
Facebook says outages due to 'server configuration change' Facebook says outages due to 'server configuration change'
- March 14, 2019

Pointing out that the Facebook outage also extended to its other properties, including Instagram and WhatsApp, Sarah Miller, the deputy director at the Open Markets Institute, which is for the break-up of Facebook and other Silicon Valley companies, said, "The more integrated a platform becomes, the greater the risk and reach of epic failures like this one". (more...)
Wall St rises after tame inflation supports patient Fed; Boeing drags Dow Wall St rises after tame inflation supports patient Fed; Boeing drags Dow
- March 14, 2019

The fatal crash of the Ethiopian Airlines Flight ET302 - the second involving a Boeing 737 Max 8 in five months - caused airlines in three countries to ground all flights involving the popular jet and cast fresh safety concerns on the airline. (more...)
Windsor employers expect Windsor employers expect "cautiously optimistic" hiring climate
- March 14, 2019

When broken down into seven industry sectors , all seven expect to add payrolls in the next three months, despite the overall modest hiring outlook. Agriculture, Hunting, Forestry & Fishing sector employers report the strongest hiring intentions with a hopeful Net Employment Outlook of +17%. (more...)
Canadian Police Seeks Public Help with Multiple Bitcoin Frauds: 4 Suspects Wanted Canadian Police Seeks Public Help with Multiple Bitcoin Frauds: 4 Suspects Wanted
- March 14, 2019

The Calgary Police Service cybercrime team's investigation began in October 2018 when officers were tipped off to a major fraud involving transactions that target a Canadian bitcoin company. Bitcoin scheme suspect number one. The police asked the public assistance in identifying the people involved in the crimes. The goal of 0-conf is to create instantaneous transactions for instances when the 10-minute Bitcoin transaction throughput time would not be convenient. (more...)