Markets


The 2020 Chevrolet Corvette C8 Convertible Reveal Is About to Begin The 2020 Chevrolet Corvette C8 Convertible Reveal Is About to Begin
- October 03, 2019

Traditionalists will be appeased by the grey and yellow colour scheme of this first vehicle, though, with subsequent C8.Rs to wear the bright yellow the C7 so often brightened up the podium with. Following the Stingray coupe and convertible comes perhaps the most relevant to a lot of us, the C8.R racecar. Lightweight composites are used alongside purposeful heat vents that keep the V-8 breathing at peak temps, while the tonneau cover can lift and store the car's roof in just 16 seconds at ... (more...)
Scotch whisky targeted by United States tariffs Scotch whisky targeted by United States tariffs
- October 03, 2019

The Office of the U.S. Trade Representative is expected to publish a an official list of European Union goods to be tariffed on Wednesday or Thursday. "Investor confidence has crumbled off the back off a couple of weak USA data prints, whilst impeachment talk and geopolitical troubles from Hong Kong to North Korea are not helping". (more...)
United Kingdom sends United Kingdom sends "compromise" proposal to European Union
- October 03, 2019

His proposal is to ditch the contentious "backstop" arrangement for the Irish border in May's deal and replace it with a regulatory border in the Irish Sea, effectively splitting Northern Ireland from the rest of the U.K. A European Parliament Brexit group believes that Johnson's proposals "do not represent a basis for an agreement", according to the draft of a statement seen by Reuters ahead of release later in the day. (more...)
Google 'tracking iPhone users' case goes ahead
- October 03, 2019

The group, known as Google You Owe Us , were seeking as much as 3.2 billion pounds ($3.9 billion), according to documents filed with the court past year. Well shit is back on , with the Court of Appeal saying that personal data has value, and therefore loss of control of a person's own personal data qualifies as damage. (more...)
Samsung stops manufacturing phones in China Samsung stops manufacturing phones in China
- October 03, 2019

The plant located in the Guangdong province of China first started producing phones on December 1992. "Samsung has little hope there to revive its share", said Park Sung-soon, an analyst at Cape Investment & Securities. Samsung in a statement to Reuters confirmed it halted all production at its last plant in China "at the end of September". Samsung is not the only company to move production from China to other countries because of rising labor costs as well as the trade war with the US. (more...)
Worries on U.S. economy send share prices plunging Worries on U.S. economy send share prices plunging
- October 03, 2019

The Dow Jones Industrial Average tumbled more than 500 points, with only one of the 30 members higher. The S&P 500 index lost 52.64 points, or 1.8%, to 2,887.61. The S&P 500 and the Dow slipped below their 100-day moving averages on Wednesday for the first time in about a month. Many investors believe that falling below such moving averages means the indexes are likely to fall further. (more...)
Australian interest rates cut to record low of 0.75 per cent Australian interest rates cut to record low of 0.75 per cent
- October 03, 2019

Last week, the Aussie weakened after Governor Philip Lowe signaled further cuts to interest rates as early as this week to keep ahead of falling global rates while urging the nation's businesses to use the abundance of cheap money to expand and hire more staff. (more...)
GM lays off 6,000 workers in Mexico due to parts shortage GM lays off 6,000 workers in Mexico due to parts shortage
- October 03, 2019

The union said it is committed "to exploring all options in order to reach an agreement". The 6,000 affected workers are being paid a percentage of their salary, the spokesman said, with some workers using vacation time to continue receiving their full salaries. (more...)
Charles Schwab Cuts Trading Commission To Zero Charles Schwab Cuts Trading Commission To Zero
- October 03, 2019

Competing brokerages TD Ameritrade and E*Trade saw even deeper losses, each plunging roughly 20% at their intraday lows. TD Ameritrade is also eliminating commissions for online trading of USA stocks and exchange-traded funds in the latest round of an industry battle over fees. (more...)
Airbus hit by planned U.S. tariffs on European Union goods Airbus hit by planned U.S. tariffs on European Union goods
- October 03, 2019

The move, culminating a 15-year standoff, gives the Trump administration the legal cover to impose tariffs it has long threatened, escalating uncertainty for the economy at a time when the US trade war with China is weighing heavily on businesses, particularly manufacturers. (more...)
CBOT corn, wheat futures rise on smaller than expected stockpiles CBOT corn, wheat futures rise on smaller than expected stockpiles
- October 03, 2019

Soybeans rose on renewed optimism about Chinese demand for US supplies of the oilseed. CBOT wheat futures eased in a turnaround from a seven-week high on Monday and were down 0.9% at $4.91-1/2 a bushel. Midwest could lower crop quality just ahead of harvest also supported the crop market, traders said. For soybeans, shares have been lowered with a revision from 2018 bean manufacturing. (more...)
WeWork says We'Quit' and Files to Withdraw IPO WeWork says We'Quit' and Files to Withdraw IPO
- October 02, 2019

The company's IPO setback is a 'rare win for the public markets over shoddy governance practices, ' said a research note from brokerage Sanford C. Bernstein, which laid out a belt-tightening plan for the company. Since then, the IPO for WeWork's parent company, The We Co., has been hanging in the balance, as it delayed its investor roadshow amid weak demand and a dwindling IPO valuation. (more...)
World's largest online betting firm created by Paddy Power owner World's largest online betting firm created by Paddy Power owner
- October 02, 2019

Analysts said the takeover of TSG would soup up Flutter's efforts to conquer the United States and could signal fresh consolidation in a sector that has already witnessed a succession of mergers. Dave Gadhia, Executive Chairman of TSG , commented: "The Board of TSG and I are delighted to recommend this exciting combination of TSG and Flutter, which we believe will create significant value for TSG's shareholders". (more...)
These 7 cities are most at risk of a real estate bubble These 7 cities are most at risk of a real estate bubble
- October 02, 2019

In 2018, Hong Kong topped the list, but this year, the index suggests the greatest risk of a bubble is now in Munich. "The UBS Global Real Estate Bubble Index gauges the risk of a property bubble on the basis of such patterns". Don't take growth for granted Real price appreciation in housing markets can not be taken for granted the report warns. "Sky-high valuations and overstretched affordability have made the market vulnerable to even minor demand shifts". (more...)
Saudi Aramco fully restored oil production and capacity Saudi Aramco fully restored oil production and capacity
- October 02, 2019

The attack remains in the spotlight as it sent OPEC's oil output to an eight-year low in September, deepening the impact of a supply pact and U.S. sanctions on Iran and Venezuela. Saudi Arabian Oil Co (Aramco) has approached Asian state oil producers including Petroliam Nasional Bhd (Petronas) and China Petrochemical Corp (Sinopec Group) about potential cornerstone investments in its initial public offering (IPO), people with knowledge of the matter said. (more...)
Airbus warns U.S. against tariff retaliation
- October 02, 2019

We are working closely with the US, EU and European partners to support a negotiated settlement to the Airbus and Boeing disputes. However, the arbitrators turned down the EU's demand to delay the ruling saying it was neither legally necessary nor legally appropriate to await the outcome of the second compliance proceeding concerning the US' failure to implement the WTO ruling against Boeing. (more...)
WH Trade Advisor Navarro Rips US-China Report: 'Flat-Out False' WH Trade Advisor Navarro Rips US-China Report: 'Flat-Out False'
- October 02, 2019

President Donald Trump's administration is considering the move, three sources briefed on the matter said on Friday, in what would be a radical escalation of U.S. "There's some significant issues related to Chinese stocks listed on public exchanges", he said on CNBC . For some firms, Trump's threats have even greater implications. (more...)
South Korean exports drop for 10th straight month South Korean exports drop for 10th straight month
- October 02, 2019

Those figures tell the story of a continued deceleration of growth in China amid the trade tensions and the ongoing softness in tech-related demand. "We think the BoK (Bank of Korea) will cut interest rates by a further 50bp, with one cut this month and another in January next year", research firm Capital Economics said in a note. (more...)
Trump Considers Blocking US-China Investments Trump Considers Blocking US-China Investments
- October 02, 2019

Delisting of Chinese firms would not only create barriers for the USA investors seeking to optimise their portfolios but would also drastically undermine the reputation of the United States as a champion of a free and open financial market, Xue stated. (more...)
Wall Street higher on Apple-led rally in technology shares Wall Street higher on Apple-led rally in technology shares
- October 02, 2019

USA -listed shares of Chinese firms Alibaba Group Holding Ltd BABA.N and Baidu Inc BIDU.O rose 0.8% and 1.5%, respectively. USA and Chinese negotiators are expected to meet next week in Washington to discuss a potential trade deal between the world's largest economies. (more...)