Markets


Belgium: More arrests in alleged New Year's Eve terror plot
- January 11, 2016

WATCH: The Belgian capital has cancelled its traditional New Year's Eve celebrations due to the threat of a terror attack. The Federal Prosecutor's Office said three out of a total of six suspects detained for questioning on Thursday were released on Friday. (more...)
No Powerball winner, Jackpot expected to hit US$1.3 Billion No Powerball winner, Jackpot expected to hit US$1.3 Billion
- January 11, 2016

Powerball draws on Wednesdays and Saturdays at 10:59 p.m. The odds of winning the jackpot with a $2 ticket are 1 in 292,201,338. "Since nobody won tonight's staggering $947.8 million jackpot, it has rolled to an estimated $1.3 billion for January 13", said a statement from officials in California, one of the 44 states, together with Washington D.C. (more...)
GM, ride-share service Lyft join forces GM, ride-share service Lyft join forces
- January 11, 2016

And I suppose it is conceivable that GM and Lyft really believe they'll be working side-by-side for years to come to "shape the future of mobility", as GM's press release proclaims. The company has realised the value of auto aggregation services like Uber and Lyft . "There could be a movie theater on wheels for long trips", he said , "or a sports bar on wheels on your way home from work, or a family Lyft for your trip to Tahoe". (more...)
Lyft gets $1 billion in funding - including $500 million from GM
- January 10, 2016

The deal with GM is part of a major partnership between the two companies, which includes a rental program for Lyft drivers and the creation of an "integrated network of on-demand autonomous vehicles" in the U.S. With the latest investments, Lyft is now valued at $5.5 billion. In the immediate future, GM will be a preferred provider of short-term-use cars for Lyft drivers. (more...)
Obama vetoes bill to repeal health care law
- January 10, 2016

But the truth is that Republicans won't repeal Obamacare without passing an alternative in its place. Republicans have argued that the law doesn't work. They'd have to try to pass some kind of Obamacare-replacement program, something they've long promised but have never quite been able to describe. House Speaker Paul Ryan vowed to continue the effort to repeal one of Obama's defining accomplishments. (more...)
Yuan jumps as official rate strengthened Yuan jumps as official rate strengthened
- January 10, 2016

Asian stock markets closed mostly higher on Friday (Jan 8), partially recovering from Thursday's sharp decline after the Chinese central bank set the yuan at a higher rate against the United States dollar. Investors should expect more volatility in Chinese markets as the government attempts to shift away from a planned economy to one driven by market forces, Mark Mobius, chairman of the emerging markets group at Franklin Templeton Investments, wrote in a blog post on Thursday. (more...)
General Motors Places $500 Million Bet on Lyft General Motors Places $500 Million Bet on Lyft
- January 10, 2016

GM's investment comes as a surprise but reveals the 107-year-old company has a clear vision and strategy for the future of autonomous vehicles. In return, GM will hold a seat on Lyft's board of directors. All that is known is that it will bring together GM's autonomous technologies with Lyft's ride-sharing capabilities. "We see the future of personal mobility as connected, seamless, and autonomous", GM president Dan Ammann said. (more...)
Djokovic crushes Nadal in Qatar Open final
- January 10, 2016

For Nadal had not won a title on this surface in 18 tournaments since winning in Doha two years ago. World No. 1 Novak Djokovic continues to his surge in the 2016 Qatar Exxonmobil Open after defeating Argentina's Leonardo Mayer , 6-3 7-5 to reach the semifinal round of the tournament, setting up a clash with Tomas Berdych. (more...)
S Korean Parliament Adopts Resolution Condemning North's Nuclear Test S Korean Parliament Adopts Resolution Condemning North's Nuclear Test
- January 10, 2016

The US and weapons experts voiced doubts the device North Korea tested on Wednesday was a hydrogen bomb, but calls mounted for more sanctions against it for its rogue nuclear programme. The vast majority of North Korea's business dealings are with China, which bought 90 percent of the isolated country's exports in 2013, according to data compiled by South Korea's International Trade Association. (more...)
Oil falls below $35 on rising stocks, fading hopes of export cuts
- January 10, 2016

Brent prices hit a fresh 11-year low on early trade in Asia, dragged by the increased volatility in the Chinese stockmarket and rising United States crude production. Something that, along with the growing instability of OPEC , is only going to serve to drive the price of oil down to even deeper depths. On December 30, crude oil prices fell over 3%, as the EIA (U.S Energy Information Administration) report showed a rise of 2.6 MMbbls (million barrels) in the crude oil inventories for the ... (more...)
Chipotle Subpoenaed In Criminal Investigation Over Illness Outbreak
- January 10, 2016

The company has been subpoenaed by a federal grand jury as part of a criminal investigation based on the shocking norovirus outbreak at the chain restaurant's Simi Valley, California location. The fiasco caused Chipotle sales to shrink as much as 14% in the fourth quarter of 2015, which is the first time that the company's sales have ever done so. (more...)
Chinese markets open higher after day's suspension
- January 10, 2016

Despite the Chinese rebound, the Asian markets were on track to turn in their worst weekly performance in four years. While the intervention may reduce selling pressure, it clashes with authorities' pledge to give markets more sway in the world's second-largest economy. (more...)
Australian shares lose $33b after Chinese market slumps Australian shares lose $33b after Chinese market slumps
- January 09, 2016

Chinese investors use a computer terminal to check stock prices in a brokerage house in Beijing, Friday, Jan. 8, 2016. (AP Photo/Mark Schiefelbein). China accounted for more than half of Apple's revenue growth in the fiscal year that ended in September. At the same time Europe's leading Blue-chip index for the Eurozone Euro STOXX 50 index fell 1.7 percent. (more...)
US, allies to respond to N Korea nuke test
- January 09, 2016

Corker said. The UN Security Council also held an emergency session and pledged to swiftly pursue new sanctions against North Korea, saying the test was a clear violation of previous UN resolutions. Washington has said it was time to impose tougher measures on Pyongyang. A newspaper published by China's ruling Communist Party on Friday blamed what it calls a "hostile policy" by South Korea, the United States and Japan toward North Korea for the North's fourth nuclear test. (more...)
Poundland Slump After Online Shift Hits Sales Poundland Slump After Online Shift Hits Sales
- January 08, 2016

Poundland , which sells everything from candies to clothes, said overall sales were up 29.4pc in the 13 weeks to December 27 compared to past year, as the recent purchase of 99p Stores lifted its revenues to £424.9m. He said: "Total sales in the third quarter increased by 30.1% on a constant currency basis and our Christmas and Halloween ranges were our best ever". (more...)
USA stocks sink at the start, echoing China-led rout USA stocks sink at the start, echoing China-led rout
- January 08, 2016

The Dow Jones Industrial Average plunged 392.41 points on Thursday, the third day of triple-digit losses this week, as concerns about the Chinese economy continued to rattle the markets. "Given the weak sentiment in the markets at the moment, I struggle to see this being reversed before the end of the week, particularly when considering that the ban on selling for large investors expires on Friday", Craig Erlam, senior analyst at Oanda, said. (more...)
Pentagon says discussing options with South Korea after North's nuclear test
- January 08, 2016

Washington sent a pair of nuclear-capable B-2 stealth bombers over South Korea in a show of force after North Korea last tested a nuclear device in 2013. "strategic assets" in the wake of the North's test, Seoul's defence ministry said. It was unclear how more sanctions would deter North Korea, which has conducted four nuclear tests since 2006. (more...)
Toronto market rocked by early shutdown of Chinese markets Toronto market rocked by early shutdown of Chinese markets
- January 08, 2016

The Dow and Nasdaq ended the day more than 10 percent below their 52-week intraday highs, officially entering what economists consider a market "correction". Teen retailer Zumiez raised its guidance for the fiscal fourth quarter, and shares gained $3.07, or 20.4 percent, to $18.15. This move is created to boost exports by making Chinese goods cheaper outside the country, analysts have speculated. (more...)
GM and Lyft Team Up for Robot Taxi Service GM and Lyft Team Up for Robot Taxi Service
- January 08, 2016

Major automakers are trying to prevent Silicon Valley from dominating the future of autonomous driving and ride-sharing, and are also investing as a way to see whether Lyft and Uber are on the way to making money, said Matthew Stover, automotive analyst with Susquehanna Financial Group. (more...)
GM Teams Up With Lyft To Create Autonomous Ride-Sharing Service
- January 08, 2016

By adapting to the sharing economy, GM may be ensuring that it remains relevant in years to come. "We see the world of mobility changing more in the next five years than it has in the last 50", says Ammann. While GM committed to doing the research and development of the autonomous fleet, it didn't specify a timetable for completing it. Some may wonder why a company that makes and sells cars would work with a company that allows people to travel without purchasing one. (more...)

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