Markets
SoftBank pushes WeWork to postpone its contentious IPO
- September 11, 2019
WeWork's management is reportedly preparing to approach investors who might be interested in acquiring the company's shares, even though some investors want the real estate firm to postpone its IPO. WeWork's S-1 revealed that the company is not profitable- in 2018 The We Company generated $1.8 billion in revenue but suffered $1.9 billion in losses . (more...)
- September 11, 2019
WeWork's management is reportedly preparing to approach investors who might be interested in acquiring the company's shares, even though some investors want the real estate firm to postpone its IPO. WeWork's S-1 revealed that the company is not profitable- in 2018 The We Company generated $1.8 billion in revenue but suffered $1.9 billion in losses . (more...)
FDA Says Juul Violated Regulations, Sold Vaping As Safer Than Smoking
- September 10, 2019
In a statement , acting FDA commissioner Norman "Ned" Sharpless said " companies must demonstrate with scientific evidence that their specific product does in fact pose less risk or is less harmful" than conventional cigarettes. The company now has 15 days to respond to the FDA and detail the steps it's taken to right its wrongs. Juul has already come under scrutiny for its marketing efforts, including its use of social media influencers to promote its vaping devices, with the Federal Trade ... (more...)
- September 10, 2019
In a statement , acting FDA commissioner Norman "Ned" Sharpless said " companies must demonstrate with scientific evidence that their specific product does in fact pose less risk or is less harmful" than conventional cigarettes. The company now has 15 days to respond to the FDA and detail the steps it's taken to right its wrongs. Juul has already come under scrutiny for its marketing efforts, including its use of social media influencers to promote its vaping devices, with the Federal Trade ... (more...)
Huawei Drops Lawsuit Against US Commerce Department
- September 10, 2019
Mr. Huang, a former engineering manager at a U.S. Huawei subsidiary, helped start CNEX in 2013 three days after leaving the company. CNEX contended that Huawei had posed as a potential customer to get secret details of its plans and, when that didn't work, persuaded Mao and Xiamen University to work as a research partner with CNEX to obtain the plans surreptitiously. (more...)
- September 10, 2019
Mr. Huang, a former engineering manager at a U.S. Huawei subsidiary, helped start CNEX in 2013 three days after leaving the company. CNEX contended that Huawei had posed as a potential customer to get secret details of its plans and, when that didn't work, persuaded Mao and Xiamen University to work as a research partner with CNEX to obtain the plans surreptitiously. (more...)
Tearful Jack Ma bids Alibaba farewell with rock star show
- September 10, 2019
The entrepreneur, whose Chinese name is Ma Yun, is one of China's most famous public figures. Ma, who turns 55 on Tuesday, holds centrestage at his farewell party in the 80,000-capacity Hangzhou Olympic Sports Center stadium to the accompaniment of music and celebrity performances, attendees will be hoping to get clues on how Alibaba will be run under his heir Daniel Zhang . (more...)
- September 10, 2019
The entrepreneur, whose Chinese name is Ma Yun, is one of China's most famous public figures. Ma, who turns 55 on Tuesday, holds centrestage at his farewell party in the 80,000-capacity Hangzhou Olympic Sports Center stadium to the accompaniment of music and celebrity performances, attendees will be hoping to get clues on how Alibaba will be run under his heir Daniel Zhang . (more...)
U.S. states announce probe against Google's 'potential monopolistic behaviour'
- September 10, 2019
Paxton said the investigation will focus on Google's "control of online advertising markets and search traffic that may have led to anticompetitive behavior that harms consumers". Facebook offered no immediate comment, but in the past it has claimed it is not a monopoly and that consumers have many choices for how to connect with people online. (more...)
- September 10, 2019
Paxton said the investigation will focus on Google's "control of online advertising markets and search traffic that may have led to anticompetitive behavior that harms consumers". Facebook offered no immediate comment, but in the past it has claimed it is not a monopoly and that consumers have many choices for how to connect with people online. (more...)
Surging Pork Prices Fuel Consumer Inflation in August
- September 10, 2019
China's producer price index (PPI) dropped 0.8 per cent from a year earlier in August, widening from a 0.3 per cent decline seen in July and the worst year-on-year contraction since August 2016, National Bureau of Statistics (NBS) data showed on Tuesday (Sept 10). (more...)
- September 10, 2019
China's producer price index (PPI) dropped 0.8 per cent from a year earlier in August, widening from a 0.3 per cent decline seen in July and the worst year-on-year contraction since August 2016, National Bureau of Statistics (NBS) data showed on Tuesday (Sept 10). (more...)
VW ID.3 Videos Show Brand's 'Third Most Important Car' Ever
- September 10, 2019
The ID 3 , which won't be sold in North America, is almost Golf-sized, although in person its low, rather short hood and generous greenhouse combine to make it feel more spacious than the current Golf . The larger 77-kwh pack can cut that time slightly with a maximum charge rate of 125 kwh. While it trails on power, the range figures put it in the same ballpark as the Tesla Model 3 at a lower price, and VW says it's capable of being charged with 180 miles of energy in less than 30 minutes ... (more...)
- September 10, 2019
The ID 3 , which won't be sold in North America, is almost Golf-sized, although in person its low, rather short hood and generous greenhouse combine to make it feel more spacious than the current Golf . The larger 77-kwh pack can cut that time slightly with a maximum charge rate of 125 kwh. While it trails on power, the range figures put it in the same ballpark as the Tesla Model 3 at a lower price, and VW says it's capable of being charged with 180 miles of energy in less than 30 minutes ... (more...)
Yields tick lower as data, Fed firm up 25 bp cut expectations
- September 10, 2019
Stocks traded modestly higher as Powell discussed the state of the global economy and domestic monetary policy, with the U.S.in its 11th year of a history-setting expansion. They don't have a clue!' Trump fumed in a series of tweets Friday. 'Political factors play absolutely no role in our process, and my colleagues and I would not tolerate any attempt to include them in our decision-making or our discussions, ' he said. (more...)
- September 10, 2019
Stocks traded modestly higher as Powell discussed the state of the global economy and domestic monetary policy, with the U.S.in its 11th year of a history-setting expansion. They don't have a clue!' Trump fumed in a series of tweets Friday. 'Political factors play absolutely no role in our process, and my colleagues and I would not tolerate any attempt to include them in our decision-making or our discussions, ' he said. (more...)
B.C. falls to second-lowest jobless rate, behind Quebec
- September 10, 2019
Statistics Canada says that even with the unexpected increase - economists were expecting only about 15,000 jobs - the August unemployment rate stayed at 5.7 per cent - near a four-decade low - as more people looked for work. But this time, it's not because jobs were lost. Of the new jobs, 42,000 were held by young workers aged 15 to 24 years old, nearly all of whom were women. (more...)
- September 10, 2019
Statistics Canada says that even with the unexpected increase - economists were expecting only about 15,000 jobs - the August unemployment rate stayed at 5.7 per cent - near a four-decade low - as more people looked for work. But this time, it's not because jobs were lost. Of the new jobs, 42,000 were held by young workers aged 15 to 24 years old, nearly all of whom were women. (more...)
Chiron Super Sport 300 unveiled with 1600hp
- September 10, 2019
As you can guess, it's probably already too late to get your name down for one, with Bugatti offering up the auto first to customers on its special 110th anniversary road trip across Europe which finished in Molsheim over the weekend. In its void sat a host of laptops and Global Positioning System data-logging equipment. The longer bodywork also allow the stacked quad tailpipes to extend further out and reduce the effect of turbulent exhaust gasses. (more...)
- September 10, 2019
As you can guess, it's probably already too late to get your name down for one, with Bugatti offering up the auto first to customers on its special 110th anniversary road trip across Europe which finished in Molsheim over the weekend. In its void sat a host of laptops and Global Positioning System data-logging equipment. The longer bodywork also allow the stacked quad tailpipes to extend further out and reduce the effect of turbulent exhaust gasses. (more...)
Michigan Attorney General joins massive anti-trust investigation into Google
- September 10, 2019
Florida attorney general Ashley Moody was also at the announcement. Google has been accused of creating an "existential threat" to internet retailers with its grip on digital advertising as USA prosecutors announced a competition probe into the company. (more...)
- September 10, 2019
Florida attorney general Ashley Moody was also at the announcement. Google has been accused of creating an "existential threat" to internet retailers with its grip on digital advertising as USA prosecutors announced a competition probe into the company. (more...)
Trump tweets increasingly moving markets
- September 10, 2019
JP Morgan's newly built "Volfefe" index - a nod to " covfefe ", the mysterious word coined by Trump in an unfinished 2017 tweet - analyzes a rolling sample of recent tweets to judge how much effect the president's remarks have had on volatility. (more...)
- September 10, 2019
JP Morgan's newly built "Volfefe" index - a nod to " covfefe ", the mysterious word coined by Trump in an unfinished 2017 tweet - analyzes a rolling sample of recent tweets to judge how much effect the president's remarks have had on volatility. (more...)
U.S. Adds a Disappointing 130000 Jobs in August
- September 07, 2019
Economists forecast the Labour Department report will show the U.S. added 160,000 nonfarm payrolls last month. But first-time applications for unemployment benefits, a more timely indicator of labor market health, have been hovering near historically low levels. (more...)
- September 07, 2019
Economists forecast the Labour Department report will show the U.S. added 160,000 nonfarm payrolls last month. But first-time applications for unemployment benefits, a more timely indicator of labor market health, have been hovering near historically low levels. (more...)
Facebook to face fresh anti-trust investigation
- September 06, 2019
It will also examine if Facebook took anticompetitive actions that harm consumer data and privacy, "the quality of consumers' choices", and pricing in the digital advertising market. The Cambridge Analytica missteps as well as anger over hate speech and misinformation on Facebook have prompted calls from people ranging from presidential candidate Senator Elizabeth Warren to co-founder Chris Hughes for the government to force the social media giant to sell Instagram, which it bought in 2012, ... (more...)
- September 06, 2019
It will also examine if Facebook took anticompetitive actions that harm consumer data and privacy, "the quality of consumers' choices", and pricing in the digital advertising market. The Cambridge Analytica missteps as well as anger over hate speech and misinformation on Facebook have prompted calls from people ranging from presidential candidate Senator Elizabeth Warren to co-founder Chris Hughes for the government to force the social media giant to sell Instagram, which it bought in 2012, ... (more...)
Oil prices fall as market eyes trade war, awaits stocks data
- September 06, 2019
Even though Saudi Arabia is still over-complying with its share of the cuts, it lifted production in August to produce 9.63 million barrels per day. West Texas Intermediate futures gained 20 cents, or 0.37%, at $54.14 at barrel. Oil rose as a forecast decline in US crude inventories countered pessimism driven by a surprise contraction in American manufacturing and a warning to China from President Donald Trump. (more...)
- September 06, 2019
Even though Saudi Arabia is still over-complying with its share of the cuts, it lifted production in August to produce 9.63 million barrels per day. West Texas Intermediate futures gained 20 cents, or 0.37%, at $54.14 at barrel. Oil rose as a forecast decline in US crude inventories countered pessimism driven by a surprise contraction in American manufacturing and a warning to China from President Donald Trump. (more...)
American Airlines waves goodbye to its 80s workhorse
- September 06, 2019
American was the first of the large USA -based airlines to introduce the aircraft to its fleet and, by 2003, was operating 362 of the iconic planes, representing approximately one-third of all MD-80s ever produced by McDonnell Douglas. In October 2018 a Ryan Air 737 MAX 8 crashed on takeoff in Indonesia. According to a statement by the government aviation agency, FAA employees have logged in over 110 thousand hours on the Max alone."The FAA's certification of the Boeing 737 Max is the ... (more...)
- September 06, 2019
American was the first of the large USA -based airlines to introduce the aircraft to its fleet and, by 2003, was operating 362 of the iconic planes, representing approximately one-third of all MD-80s ever produced by McDonnell Douglas. In October 2018 a Ryan Air 737 MAX 8 crashed on takeoff in Indonesia. According to a statement by the government aviation agency, FAA employees have logged in over 110 thousand hours on the Max alone."The FAA's certification of the Boeing 737 Max is the ... (more...)
India's banks to lend at benchmark rates
- September 06, 2019
Banks with a larger proportion of retail and MSME loans will be impacted the most. Now, banks will have no choice but to link deposit rates to external benchmarks, or actively hedge their assets in the interest rate swap market. The historic low for the repo rate is 4.75% which is 65 bps lower than the current rate of 5.4%. Under the new norm, banks have been allowed to choose among the repo rate, the government's three-month and six-month treasury bill yield published by the Financial ... (more...)
- September 06, 2019
Banks with a larger proportion of retail and MSME loans will be impacted the most. Now, banks will have no choice but to link deposit rates to external benchmarks, or actively hedge their assets in the interest rate swap market. The historic low for the repo rate is 4.75% which is 65 bps lower than the current rate of 5.4%. Under the new norm, banks have been allowed to choose among the repo rate, the government's three-month and six-month treasury bill yield published by the Financial ... (more...)
SA avoids recession as GDP expands faster than expected
- September 06, 2019
Year-on year GDP growth was 0.9% compared with zero previously. The largest positive contributors to growth in GDP in the second quarter were mining, finance, trade and general government services, the statistical office said. It is essential now to provide the necessary leadership and to forge sufficient consensus around what needs to be urgently done to strengthen the South African economy", Parsons explained. (more...)
- September 06, 2019
Year-on year GDP growth was 0.9% compared with zero previously. The largest positive contributors to growth in GDP in the second quarter were mining, finance, trade and general government services, the statistical office said. It is essential now to provide the necessary leadership and to forge sufficient consensus around what needs to be urgently done to strengthen the South African economy", Parsons explained. (more...)
Petronet LNG, Novatek sign LNG MoU
- September 06, 2019
Novatek, founded in 1994 and traded on the Moscow and London stock exchanges, owns 60 percent of the Arctic LNG 2 project. "This is an important project for Russia and follows our strategy to create capacities for LNG production", Russian Energy Minister Alexander Novak said, adding that investments in the project had been set at $21 billion. (more...)
- September 06, 2019
Novatek, founded in 1994 and traded on the Moscow and London stock exchanges, owns 60 percent of the Arctic LNG 2 project. "This is an important project for Russia and follows our strategy to create capacities for LNG production", Russian Energy Minister Alexander Novak said, adding that investments in the project had been set at $21 billion. (more...)
United Auto Workers vote to allow strikes against Detroit's Big 3 automakers
- September 06, 2019
Many observers expect a strike as the union seeks pay raises and the companies seek cost parity with foreign automakers that have plants in the U.S. It also means that if the union decides to go on strike, it be against GM. GM, the nation's largest automaker, likely was picked because talks there will be the most hard of the Detroit Three, said Kristin Dziczek, vice president of labor, industry and economics at the Center for Automotive Research, an industry think tank. (more...)
- September 06, 2019
Many observers expect a strike as the union seeks pay raises and the companies seek cost parity with foreign automakers that have plants in the U.S. It also means that if the union decides to go on strike, it be against GM. GM, the nation's largest automaker, likely was picked because talks there will be the most hard of the Detroit Three, said Kristin Dziczek, vice president of labor, industry and economics at the Center for Automotive Research, an industry think tank. (more...)
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