Markets
Donald Trump fury: POTUS snubs Democrats in USMCA agreement
- January 31, 2020
President Donald Trump , backed by workers and joined by elected officials, at a White House ceremony for the signing of the U.S. -Mexico-Canada Agreement, the successor to NAFTA . "The USMCA is the largest, most significant, modern and balanced trade agreement in history", Trump said at the signing ceremony. Brody Stapel, president of Edge Dairy Cooperative, said, "This is a tremendous victory for America's dairy farmers". (more...)
- January 31, 2020
President Donald Trump , backed by workers and joined by elected officials, at a White House ceremony for the signing of the U.S. -Mexico-Canada Agreement, the successor to NAFTA . "The USMCA is the largest, most significant, modern and balanced trade agreement in history", Trump said at the signing ceremony. Brody Stapel, president of Edge Dairy Cooperative, said, "This is a tremendous victory for America's dairy farmers". (more...)
Oil falls again as U.S. supplies grow, Asia virus menaces demand
- January 31, 2020
Brent was down 24 cents, or 0.4%, to $59.57 a barrel by 0152 GMT, having risen 0.5% on Wednesday. Gasoline inventories were up by 1.2 million barrels, compared with forecasts for a rise of 1.3 million barrels. Financial markets that have been hit by the spread of the virus birthed in China are trying to assess the economic fallout, with the death toll rising to 132 and airlines reducing flights to China . (more...)
- January 31, 2020
Brent was down 24 cents, or 0.4%, to $59.57 a barrel by 0152 GMT, having risen 0.5% on Wednesday. Gasoline inventories were up by 1.2 million barrels, compared with forecasts for a rise of 1.3 million barrels. Financial markets that have been hit by the spread of the virus birthed in China are trying to assess the economic fallout, with the death toll rising to 132 and airlines reducing flights to China . (more...)
1st Person-To-Person Spread Of Coronavirus Has Occurred In U.S., CDC Says
- January 31, 2020
Italian Prime Minister Giuseppe Conte said the government had made a decision to close all air traffic between Italy and China, a more drastic measure than most countries have undertaken. The committee last week had advised the United Nations health agency it was too early to make that pronouncement. Chinese National Health Commission Minister Ma Xiaowei said this week the virus was infectious during incubation, unlike Severe Acute Respiratory Syndrome ( SARS ), another coronavirus that ... (more...)
- January 31, 2020
Italian Prime Minister Giuseppe Conte said the government had made a decision to close all air traffic between Italy and China, a more drastic measure than most countries have undertaken. The committee last week had advised the United Nations health agency it was too early to make that pronouncement. Chinese National Health Commission Minister Ma Xiaowei said this week the virus was infectious during incubation, unlike Severe Acute Respiratory Syndrome ( SARS ), another coronavirus that ... (more...)
Amazon has 150 million Prime members now
- January 31, 2020
It hauled in $87.4 billion in revenue, above forecasts for $86.02. Its suite of voice-controlled Echo speakers has prompted still more engagement from customers, and grocery orders more than doubled in the holiday quarter in a vote of confidence for Amazon's 2017 bet to buy Whole Foods Market. (more...)
- January 31, 2020
It hauled in $87.4 billion in revenue, above forecasts for $86.02. Its suite of voice-controlled Echo speakers has prompted still more engagement from customers, and grocery orders more than doubled in the holiday quarter in a vote of confidence for Amazon's 2017 bet to buy Whole Foods Market. (more...)
USA economic growth slowed in 2019, hit by trade wars
- January 30, 2020
Economists surveyed by The Wall Street Journal expected a 2.1% growth rate in the fourth quarter. The economy grew at a 2.1 percent rate in the third quarter as well. While that was still a solid number, it was down from a spending surge of 4.6 percent in the second quarter and 3.2 percent in the third quarter. Business investment continued to be muted. (more...)
- January 30, 2020
Economists surveyed by The Wall Street Journal expected a 2.1% growth rate in the fourth quarter. The economy grew at a 2.1 percent rate in the third quarter as well. While that was still a solid number, it was down from a spending surge of 4.6 percent in the second quarter and 3.2 percent in the third quarter. Business investment continued to be muted. (more...)
Northern rail nationalised as government admits privatisation 'struggling to deliver'
- January 30, 2020
It was established by the UK Government's Department for Transport to fulfil the Secretary of State for Transport's requirements under Section 30 of the Railways Act 1993 - which places a duty on the Secretary of State for Transport to continue to provide rail services if a franchise is terminated. (more...)
- January 30, 2020
It was established by the UK Government's Department for Transport to fulfil the Secretary of State for Transport's requirements under Section 30 of the Railways Act 1993 - which places a duty on the Secretary of State for Transport to continue to provide rail services if a franchise is terminated. (more...)
Samsung profits decline 53% in 2019, improvement likely this year
- January 30, 2020
Samsung reported revenues of 230.40 trillion won ($193.7 billion) in 2019 compared to 243.77 trillion won ($221.6 billion) in 2018. That is the highest in the past three years. Its semiconductor business continued to be the biggest contributor to profits, with operating profits of 3.45 trillion won in the fourth quarter. The reason for Samsung's year long decline was due to the falling memory chip market. (more...)
- January 30, 2020
Samsung reported revenues of 230.40 trillion won ($193.7 billion) in 2019 compared to 243.77 trillion won ($221.6 billion) in 2018. That is the highest in the past three years. Its semiconductor business continued to be the biggest contributor to profits, with operating profits of 3.45 trillion won in the fourth quarter. The reason for Samsung's year long decline was due to the falling memory chip market. (more...)
Coronavirus: Case likely to be found in Scotland in days
- January 30, 2020
Nearly all the deaths so far have been in the central province of Hubei, home to about 60 million people and now under virtual lockdown. Medical staff in protective suits treat a patient with pneumonia caused by the new coronavirus at a hospital in Wuhan , the epicentre of the outbreak. (more...)
- January 30, 2020
Nearly all the deaths so far have been in the central province of Hubei, home to about 60 million people and now under virtual lockdown. Medical staff in protective suits treat a patient with pneumonia caused by the new coronavirus at a hospital in Wuhan , the epicentre of the outbreak. (more...)
MPC members hold Bank Rate in split vote
- January 30, 2020
The Bank of England has left its benchmark UK Bank Rate at 0.75%. In addition, surveys of business activity have picked up, investment intentions appear to have recovered, and housing market indicators have strengthened. "If the economy recovers broadly in line with the MPC's latest projections, some modest tightening of policy may be needed to maintain inflation sustainably at the target". (more...)
- January 30, 2020
The Bank of England has left its benchmark UK Bank Rate at 0.75%. In addition, surveys of business activity have picked up, investment intentions appear to have recovered, and housing market indicators have strengthened. "If the economy recovers broadly in line with the MPC's latest projections, some modest tightening of policy may be needed to maintain inflation sustainably at the target". (more...)
Fed Maintains Interest Rates In First Meeting Of 2020
- January 30, 2020
USA regulators including the Fed, wary of wading into a subject that is politically divisive, have taken few steps to bring public attention to the threats that a warming planet can pose to the financial system. Major companies across the world have responded by suspending some operations in China. Hotels, airlines, casinos and cruise operators are among the industries that have suffered the most immediate repercussions, especially in countries close to China. (more...)
- January 30, 2020
USA regulators including the Fed, wary of wading into a subject that is politically divisive, have taken few steps to bring public attention to the threats that a warming planet can pose to the financial system. Major companies across the world have responded by suspending some operations in China. Hotels, airlines, casinos and cruise operators are among the industries that have suffered the most immediate repercussions, especially in countries close to China. (more...)
NY Attorney General, Federal Trade Commission Sue Martin Shkreli
- January 30, 2020
According to the claim, in 2015, Vyera (previously known as Turing Pharmaceuticals) acquired the United States rights to Daraprim from the only existing supplier and immediately raised the price from $17.50 to $750 per tablet. His conviction was unanimously upheld last summer by a three-judge panel at the USA appeals court in Manhattan. One method involved distribution agreements that ensured generic companies could not buy samples of Daraprim that would be needed for testing that is ... (more...)
- January 30, 2020
According to the claim, in 2015, Vyera (previously known as Turing Pharmaceuticals) acquired the United States rights to Daraprim from the only existing supplier and immediately raised the price from $17.50 to $750 per tablet. His conviction was unanimously upheld last summer by a three-judge panel at the USA appeals court in Manhattan. One method involved distribution agreements that ensured generic companies could not buy samples of Daraprim that would be needed for testing that is ... (more...)
China's Hubei reports 1032 new confirmed cases of novel coronavirus
- January 30, 2020
The new virus has now infected more people in China than fell ill during the 2002-2003 severe acute respiratory syndrome (Sars) outbreak . "Regular handwashing, coughing or sneezing into your elbow sleeve, disposing of tissues appropriately and avoiding contact with sick people are important ways to prevent the spread of respiratory illness generally". (more...)
- January 30, 2020
The new virus has now infected more people in China than fell ill during the 2002-2003 severe acute respiratory syndrome (Sars) outbreak . "Regular handwashing, coughing or sneezing into your elbow sleeve, disposing of tissues appropriately and avoiding contact with sick people are important ways to prevent the spread of respiratory illness generally". (more...)
Tesla declares 2019 a turning point
- January 30, 2020
The company said production would likely outpace deliveries this year because of the ramp of Model 3 in Shanghai and Model Y in Fremont. Tesla also production of Model Y, its crossover SUV, was ramping up at its Fremont plant. Tesla Inc (NASDAQ: TSLA ) will deliver its fourth quarter results after the NY market close on Wednesday, with investors in the electric vehicles maker hoping the numbers can justify a recent stratospheric leap in the firm's share price. (more...)
- January 30, 2020
The company said production would likely outpace deliveries this year because of the ramp of Model 3 in Shanghai and Model Y in Fremont. Tesla also production of Model Y, its crossover SUV, was ramping up at its Fremont plant. Tesla Inc (NASDAQ: TSLA ) will deliver its fourth quarter results after the NY market close on Wednesday, with investors in the electric vehicles maker hoping the numbers can justify a recent stratospheric leap in the firm's share price. (more...)
US Fed keeps interest rate steady, watches global developments
- January 30, 2020
Chairman Jerome Powell and other Fed officials have indicated that they see that range as low enough to support faster growth and hiring. It's also worth noting that this meeting will not feature new economic projections from the central bank, though there will be a press conference with Chairman Jerome Powell. (more...)
- January 30, 2020
Chairman Jerome Powell and other Fed officials have indicated that they see that range as low enough to support faster growth and hiring. It's also worth noting that this meeting will not feature new economic projections from the central bank, though there will be a press conference with Chairman Jerome Powell. (more...)
Air Canada among airlines cancelling flights to China over coronavirus fears
- January 30, 2020
At least 106 people have died in China from the virus. Among the previously confirmed eight cases, seven patients are in stable condition, while one is being treated at the ICU in serious condition. Another 200 people were aboard a Japanese flight which landed in Tokyo on Wednesday morning. But with 14 coronavirus cases, it is the second-worst hit country outside of China. (more...)
- January 30, 2020
At least 106 people have died in China from the virus. Among the previously confirmed eight cases, seven patients are in stable condition, while one is being treated at the ICU in serious condition. Another 200 people were aboard a Japanese flight which landed in Tokyo on Wednesday morning. But with 14 coronavirus cases, it is the second-worst hit country outside of China. (more...)
CBO projects a decade of trillion-dollar deficits and soaring United States debt
- January 30, 2020
Projected deficits rise from 4.6 percent of gross domestic product (GDP) in 2020 to 5.4 percent in 2030. The CBO forecasts a federal budget deficit of $1 trillion this fiscal year, which runs through September. That average growth rate of output is less than its long-term historical average, primarily because the labor force is expected to grow more slowly than it has in the past. (more...)
- January 30, 2020
Projected deficits rise from 4.6 percent of gross domestic product (GDP) in 2020 to 5.4 percent in 2030. The CBO forecasts a federal budget deficit of $1 trillion this fiscal year, which runs through September. That average growth rate of output is less than its long-term historical average, primarily because the labor force is expected to grow more slowly than it has in the past. (more...)
Boeing posts first annual loss since 1997, thanks to 737 Max
- January 29, 2020
The company took a pretax charge of $2.6 billion to cover more concessions to airlines that have canceled thousands of flights without their Max jets, and including higher estimated production costs in the years ahead, Boeing re-calculated its extra expenses for the Max at $18.6 billion. (more...)
- January 29, 2020
The company took a pretax charge of $2.6 billion to cover more concessions to airlines that have canceled thousands of flights without their Max jets, and including higher estimated production costs in the years ahead, Boeing re-calculated its extra expenses for the Max at $18.6 billion. (more...)
Buffalo News has been sold to Lee Enterprises in $140 million deal
- January 29, 2020
The Virginia papers included in the sale are the Richmond Times-Dispatch, The Roanoke Times , The Daily Progress in Charlottesville, The Free Lance-Star in Fredericksburg, Bristol Herald Courier, The News & Advance in Lynchburg, Danville Register & Bee, Martinsville Bulletin, Culpeper Star-Exponent and The News Virginian in Waynesboro. (more...)
- January 29, 2020
The Virginia papers included in the sale are the Richmond Times-Dispatch, The Roanoke Times , The Daily Progress in Charlottesville, The Free Lance-Star in Fredericksburg, Bristol Herald Courier, The News & Advance in Lynchburg, Danville Register & Bee, Martinsville Bulletin, Culpeper Star-Exponent and The News Virginian in Waynesboro. (more...)
McDonald's shuts 300 restaurants in China as coronavirus spreads
- January 29, 2020
Health secretary Matt Hancock has instructed officials to place the 200 citizens into isolation. He tweeted: "We are working hard to get British nationals back from Wuhan ". "We apologise to customers for the inconvenience, but the safety of our customers and crew is always our priority". This virus is averaging 2 deaths per 100 so far, mostly older people, and it is unknown what level of medical care those cases received. (more...)
- January 29, 2020
Health secretary Matt Hancock has instructed officials to place the 200 citizens into isolation. He tweeted: "We are working hard to get British nationals back from Wuhan ". "We apologise to customers for the inconvenience, but the safety of our customers and crew is always our priority". This virus is averaging 2 deaths per 100 so far, mostly older people, and it is unknown what level of medical care those cases received. (more...)
United Airlines suspending flights to China as coronavirus outbreak continues
- January 29, 2020
In a statement , an airline spokesperson said that after carefully assessing the current coronavirus situation in China, IndiGo had taken certain safety measures for its customers, crew and staff. The Trump administration and United States health officials are reportedly considering a range of measures to contain the spread of the unsafe Chinese coronavirus that has already infected some 4,700 people across the globe. (more...)
- January 29, 2020
In a statement , an airline spokesperson said that after carefully assessing the current coronavirus situation in China, IndiGo had taken certain safety measures for its customers, crew and staff. The Trump administration and United States health officials are reportedly considering a range of measures to contain the spread of the unsafe Chinese coronavirus that has already infected some 4,700 people across the globe. (more...)
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