Markets


Oil rises on supply cuts, but weak economy holds market back Oil rises on supply cuts, but weak economy holds market back
- June 11, 2019

Even Hedge Funds have increased selling of Oil considering the global scenario and the overextended Bull Run in prices over the supply cuts by OPEC. "There's no doubt that the current situation on the global oil markets, which has begun to show volatility once again, makes Saudi-Russian cooperation more important", Al-Falih said Monday. (more...)
United Technologies Announces Merger With Raytheon, Headquarters Will Leave Connecticut United Technologies Announces Merger With Raytheon, Headquarters Will Leave Connecticut
- June 11, 2019

Two years after the deal closes Hayes will become chairman, the companies said. The companies said they expect to return $18 billion to $20 billion to shareholders in the first 36 months after the merger and to see about $1 billion in annual cost savings by the fourth year. (more...)
Trump says immigration deal will work if Mexico plays its part Trump says immigration deal will work if Mexico plays its part
- June 11, 2019

Instead, Ebrard said during a press conference in Mexico City Monday, if the deal announced Friday does not begin to drive down migrant numbers in the next 45 days, officials will open up new discussions. The deal included a commitment from Mexico, for instance, to deploy its new National Guard to the country's southern border with Guatemala. "We have fully signed and documented another very important part of the Immigration and Security deal with Mexico, one that the U.S. (more...)
Raytheon and United Technologies Merge To Create A New Aerospace Giant Raytheon and United Technologies Merge To Create A New Aerospace Giant
- June 10, 2019

The surprise deal, announced on Sunday, will create the world's second largest aero-and-defense company by sales behind Boeing Co and allow Raytheon to expand into commercial aviation while reducing United Technologies' dependence on aerospace. (more...)
World economy's guardians signal readiness to cushion trade risk World economy's guardians signal readiness to cushion trade risk
- June 10, 2019

Both Aso and Japan's central bank governor, Haruhiko Kuroda, kept their comments on concerns over the trade clash between the US and China mild. However, the G20 finance leaders agreed to compile common rules by 2020, .in order to close loopholes that are used by global tech giants to reduce their corporate taxes. (more...)
FedEx Express Drops Amazon, Focuses On 'Broader E-Commerce Market' FedEx Express Drops Amazon, Focuses On 'Broader E-Commerce Market'
- June 10, 2019

Amazon accounted for less than 1.3% of FedEx's revenue past year, the company said in its statement. A FedEx spokesperson said the new part-time drivers will better enable the company to handle fluctuations in parcel volume. FedEx Ground is believed to handle most of Amazon's US traffic. FedEx is reportedly making two significant changes to its Express U.S. ground delivery service. (more...)
Kroger brand frozen berries recalled over Hepatitis A concerns Kroger brand frozen berries recalled over Hepatitis A concerns
- June 10, 2019

The berries were sold nationwide under the grocery store's "private selection" brand . There have been no reported illnesses. PEP may be recommended for unvaccinated people who have been exposed to HAV in the last two weeks; those with evidence of previous hepatitis A vaccination or previous hepatitis A infection do not require PEP. (more...)
Beyond Meat top choice for Wall Street after bullish results Beyond Meat top choice for Wall Street after bullish results
- June 09, 2019

Beyond Meat's first earnings report since going public on May 2 easily beat analysts' expectations, with the company now predicting it will more than double its revenue this year compared to 2018. Canadian packaged meat producer Maple Leaf Foods Inc, which sells plant-based meat alternatives such as vegan ground beef under its LightLife brand, expects its products in the meat case of USA retailers by this summer. (more...)
Job and wage growth slows as trade war weighs on economy Job and wage growth slows as trade war weighs on economy
- June 09, 2019

But as tensions escalated between the United States and its trading partners this spring, the Fed signaled that it was tabling rate hikes for 2019. Fed chairman Jerome Powell said on Tuesday the USA central bank was closely monitoring the implications of the trade tensions on the economy and would 'act as appropriate to sustain the expansion'. (more...)
London to get 'world's first' infinity pool with 360-degree views London to get 'world's first' infinity pool with 360-degree views
- June 09, 2019

The designers are also proposing a built-in anemometer to monitor the wind speed, to make sure the water stays at the right temperature and isn't blown down to the streets. In addition, the heating system will use waste energy from the air conditioning system for the building. The pool would be available to residents and guests of the hotel and spa (not the general public, unfortunately). (more...)
Toyota And Subaru To Jointly Develop Battery Electric Vehicles Toyota And Subaru To Jointly Develop Battery Electric Vehicles
- June 09, 2019

Subaru will again use this partnership to design, test, and build components for their new shared electric-car platform. No, it isn't the next-generation 86-but how does a jointly developed midsize SUV or passenger van sound to you? The new joint project will develop a new electric mid-size SUV using electric-car technology from Toyota and all-wheel drive technology from Subaru , the companies said. (more...)
Hedge fund buys struggling book retailer Barnes & Noble Hedge fund buys struggling book retailer Barnes & Noble
- June 09, 2019

The mega-chain, which boasts 627 locations across the USA, announced Friday that the Elliott Management Corp. has agreed to buy Barnes & Noble for about $683 million - a price tag that includes the bookseller's debt, which Elliott will take on as part of the deal. (more...)
Facebook to Cede Control of Upcoming Cryptocurrency to Outside Foundation Facebook to Cede Control of Upcoming Cryptocurrency to Outside Foundation
- June 09, 2019

Quoting a report by The Information , CNBCreported on June 5, 2019, that Facebook Inc.is expected to introduce its in-house cryptocurrency toward the end of June 2019. The publication quotes Facebook employees who work on the project, called Libra, as saying they have been offered the option of being paid in cash or the cryptocurrency token. (more...)
Stronger Euro, but not because of the European Central Bank decision Stronger Euro, but not because of the European Central Bank decision
- June 09, 2019

The ECB's main refinancing rate remains at zero, while financial firms must pay a negative interest rate of 0.4 percent on deposits with the central bank. Like the USA, the eurozone is seeing economic growth and unemployment has fallen. With hoped-for solutions to some of the knotty issues failing to materialize in recent weeks and months, "uncertainty about global trade growth has extended beyond what we believed in March", Draghi said. (more...)
Uber Copter's $200 flights commence in NYC on July Ninth Uber Copter's $200 flights commence in NYC on July Ninth
- June 09, 2019

Uber is adding regular helicopter air service to the heaviest users of its platform with Uber Copter - a new service line launched today that will provide on-demand transportation from Lower Manhattan to JFK airport for, on average, between $200 and $225 per person, which includes vehicle service to and from the helipad at each end. (more...)
RBA announces June cash rate RBA announces June cash rate
- June 09, 2019

The cut was the first since 2016 when the bank cut rates twice in May and August. "I think the ANZ has let down its customers", the federal Treasurer Josh Frydenberg said after the RBA decision and the ANZ response. In contrast, Athena, RACQ and Reduce Home Loans have announced they'll be passing on the full 0.25 per cent cut. Shadow treasurer Jim Chalmers argues the rate cut must be passed on to fulfill the central banks' goal of shoring up the economy. (more...)
Worsening Trade Wars Pose Risk To World Economy, Says G20 Worsening Trade Wars Pose Risk To World Economy, Says G20
- June 09, 2019

He and other members of the Trump administration maintain that the ripple effects of the billions of dollars in tariffs imposed by Washington on Chinese exports over the past year are creating new business opportunities for other businesses in the USA and other countries. (more...)
US Scrambles To Find Alternatives For Chinese Rare Earth Metals US Scrambles To Find Alternatives For Chinese Rare Earth Metals
- June 09, 2019

China could maximize harm on the USA economy not just by slashing flows of rare-earth materials, but by curbing supplies of small, powerful magnets that use them. "The United States is heavily dependent on critical mineral imports ". In 2010, Beijing cut off exports of rare earths to Japan after a Chinese fishing boat collided with two Japan Coast Guard ships in the East China Sea. (more...)
Proposed US tariffs on Mexico suspended indefinitely Proposed US tariffs on Mexico suspended indefinitely
- June 09, 2019

House Speaker Nancy Pelosi (D-CA) released a statement Saturday morning saying Trump had "undermined America's preeminent leadership role in the world" by threatening to impose tariffs on Mexico if it didn't control the flow of foreigners. (more...)
Ford to shutdown Welsh factory putting 1700 United Kingdom jobs at risk Ford to shutdown Welsh factory putting 1700 United Kingdom jobs at risk
- June 08, 2019

Proposals to shut the Bridgend engine plant by the end of next year were revealed today (Thursday), with Ford Europe's president Stuart Rowley calling it "economically unsustainable" with one contract coming to an end and reduced demand for other engines. (more...)