Markets


Late Rooms and Super Break collapse hits holidaymakers Late Rooms and Super Break collapse hits holidaymakers
- August 04, 2019

Malvern Group's website said forthcoming bookings had been cancelled, while customers now on tours may be asked to pay again by the hotels. The Manchester-based companies, which had 253 employees in Manchester and NY, ceased operations on Thursday. (more...)
Google temporarily banned from listening to voice recordings in the EU Google temporarily banned from listening to voice recordings in the EU
- August 04, 2019

The Hamburg Commission for Data Protection and Freedom of Information (HmbBfDI) has banned Google from carrying out transcriptions of audio conversations recorded by the company's AI assistant in Europe for at least three months. In early July, word leaked that Google employees and contractors listen in on your Google Assistant voice recordings . "In these recordings, we could clearly hear addresses and other sensitive information". (more...)
Ford Shows Off Engine, Transmission Advances for Super Duty Trucks Ford Shows Off Engine, Transmission Advances for Super Duty Trucks
- August 04, 2019

Ford's biggest trucks will get one of the world's biggest V8 engines starting this fall, as one aspect of the Truck Wars turns into an old-fashioned battle of engine size that's reminiscent of the muscle vehicle era. -ft.at 3,900 rpm. The big V8 will be paired with an all-new 10-speed heavy-duty TorqShift transmission that is designed for robust power, long-term durability, and ease of service for Super Duty owners who work and play in the trucks. (more...)
Fed decides to cut the interest rate due to the global slowdown Fed decides to cut the interest rate due to the global slowdown
- August 04, 2019

Odds for a half-point cut rose after he recommended swift policy action if the economy weakens when rates are low, but fell back after the bank later clarified that he was not discussing upcoming policy moves. Powell at the White House Nov. 2, 2017. U.S. President Donald Trump , who has repeatedly attacked the Fed's policy stance under Powell and demanded that it push through big rate cuts, said on Twitter the Fed chief "let us down" by not telegraphing that an aggressive easing was coming. (more...)
US economy is adding plenty of jobs, but not hours for workers US economy is adding plenty of jobs, but not hours for workers
- August 03, 2019

A broader measure of unemployment and underemployment-which includes those too discouraged to look for work, plus Americans stuck in part-time jobs but who want to work full-time-fell to 7.0% in July from 7.2% in June . Average hourly earnings are forecasting rising 0.2% in July, after a similar increase in June. Over the past year, average hourly earnings have increased 3.2 percent. (more...)
BoE: Brexit uncertainties more entrenched BoE: Brexit uncertainties more entrenched
- August 03, 2019

The pound has fallen sharply in recent days to a 28-month low below US$1.21 (NZ$1.81), as new United Kingdom prime minister Boris Johnson escalated talk of a no-deal Brexit and put his government on notice that Britain will leave the European Union on Halloween, the current Brexit date, come what may. (more...)
Presence of Plastic Pieces Initiates Recall of Entenmann's Little Bites Cookies Presence of Plastic Pieces Initiates Recall of Entenmann's Little Bites Cookies
- August 03, 2019

Bimbo Bakeries, the cookie's manufacturer, says the cookies being recalled are the Entenmann's Little Bites five-pack mini chocolate chip variety and the plastic is not baked into the cookies but could still cause choking. The Best By Date can be found on the top of the box, the Lot Code is to the left of the top of the box underneath the price/lb. The company said it has not received any reports of injury to date. (more...)
Trump thumps stocks with more tariffs Trump thumps stocks with more tariffs
- August 03, 2019

The trade war started after the USA announced a 25 per cent tariff on approximately $50bn of goods from China that "contain industrially significant technologies". On Friday, China threatened retaliation in ways that could magnify the potential damage to both of the world's two biggest economies. The newly proposed wave of duties would extend Trump's tariffs to almost all of the Chinese goods that the United States imports. (more...)
Royal Dutch Shell Second-Quarter Adjusted Earnings Slump Royal Dutch Shell Second-Quarter Adjusted Earnings Slump
- August 03, 2019

Shell said its quarterly profit on a current cost-of-supplies basis - a number similar to the net income that USA oil companies report - was $3.03 billion, down from $5.23 billion a year earlier. Cash generated by the shipments wasn't enough to offset a slump in LNG prices in the second quarter, which were about 40% lower than in the same period in 2018. (more...)
Chick-fil-A crowned America’s favorite fast-food chain, new survey says Chick-fil-A crowned America’s favorite fast-food chain, new survey says
- August 03, 2019

According to Fox Business , Market Force's Fast Food Market Research Report found that Chick-fil-A was ranked as America's favorite fast food restaurant. Chick-fil-A's staff received an 82% in both the friendliness and cleanliness categories. We may never know the answer, but we should note that In-N-Out only has about 340 locations, primarily on the West Coast, while Chick-fil-A has more than 2,300 locations nationally. (more...)
Oscar Mayer releasing hot dog-infused ice cream sandwich Oscar Mayer releasing hot dog-infused ice cream sandwich
- August 03, 2019

As if French's Mustard Ice Cream wasn't enough, now comes news that Oscar Mayer is unleashing a new Ice Dog Sandwich . And, frankly, neither is Oscar Mayer's hot dog-flavored ice cream sandwich . If you too are New York City-based, you're in luck. Eaters more adventurous than I can keep an eye (and ear) out for a specially outfitted Wienermobile, handing out free ice dog sandwich samples across New York City the week of August 12. (more...)
Facebook begins adding its name to some screens on Instagram Facebook begins adding its name to some screens on Instagram
- August 03, 2019

It's worth mentioning that the founders of Instagram and WhatsApp have departed Facebook in the past few years . Company data scientists warned Zuckerberg a year ago that unless something was done to reverse the trend of users turning to Instagram and WhatsApp to post and message, the user-drain could reach a " tipping point " and send Facebook into a downward spiral from which there would be no recovery. (more...)
Stocks tumble as US Fed cuts interest rates Stocks tumble as US Fed cuts interest rates
- August 03, 2019

He added, "We are winning any way, but I am certainly not getting much help from the Federal Reserve! ". The move was widely expected but considered controversial given the country's low unemployment and healthy labor market. He cited China's complicity in the ongoing US opioid epidemic as well as a lack of new Chinese purchases of USA agricultural goods as it previously had promised to do as rationale for the new round of tariffs. (more...)
Donald Trump set to make European Union trade announcement Donald Trump set to make European Union trade announcement
- August 02, 2019

President Donald Trump celebrated a new agreement Friday to increase beef exports to the European Union , saying sales should increase by 46 percent in the first year. "I do not think we will reach an agreement if agriculture is not included", Ted McKinney, the undersecretary for trade and foreign agricultural affairs, told reporters during a June visit to Brussels. (more...)
Oil Prices Rebound On Weakening US Inventories Oil Prices Rebound On Weakening US Inventories
- August 02, 2019

As of writing, the barrel of West Texas Intermediate was trading at $58.50, adding 0.25% on a daily basis. Central bankers in the U.S. began their two-day meeting on Tuesday and were expected to cut interest rates , with President Donald Trump reiterating his call for the Fed to make a large cut. (more...)
USA employers added 164000 jobs in July as wages picked up USA employers added 164000 jobs in July as wages picked up
- August 02, 2019

Wages were 3.2% higher in July than a year ago, a slight increase from the 3.1% yearly gain in June, but below the 3.4% growth peak achieved in February. The unemployment rate remained at 3.7%, which marks the 17th straight month that it's been at or below 4.0%. Economists had expected the unemployment rate to drop to 3.6%, which would have tied a 50-year low, but an influx of 370,000 new workers to the labor force brought the participation rate up to 63%, its highest since March. (more...)
Amazon chief Bezos cashes in US$1.8b of share pile Amazon chief Bezos cashes in US$1.8b of share pile
- August 02, 2019

EST today, down $11.48 or 0.61 percent. Blackburn is said to be one of Jeff Bezos' closest advisors, and also has a significant stake in the company: CNBC reported Wednesday that Blackburn owns 71,000 Amazon shares, which are worth about $132 million. (more...)
Gold prices surge today, silver rates follow suit Gold prices surge today, silver rates follow suit
- August 02, 2019

Continued central bank buying and sustained growth in gold-backed exchange-traded funds (ETFs) were the main drivers for this increase. As per the report, central banks' demand grew by 67 per cent as they bought 224.4 tonnes of gold in April-June 2019, compared to 152.8 tonnes a year ago. (more...)
Plastic grocery bags being eliminated at Sobeys Plastic grocery bags being eliminated at Sobeys
- August 02, 2019

The change will eliminate 225 million bags used annually at Sobeys 255 stores. The company calls it an "important first step" in reducing the use of plastic at its locations. Sobeys says the bags were originally implemented at IGA stores in Quebec and received "highly positive feedback" from customers. "It's time for change, and we will not stop innovating and bringing to market new ways to remove avoidable plastic from retail", said Vittoria Varalli, Vice President, Sustainability. (more...)
Stocks sink after Trump announces tariffs on more Chinese goods Stocks sink after Trump announces tariffs on more Chinese goods
- August 02, 2019

The 25% tariff already imposed on $250 billion in Chinese goods will remain in place, he said. United States and Chinese negotiators ended their latest two-day meeting in Shanghai on Wednesday with little sign of progress, although both countries described the talks as constructive. (more...)