Markets


Family, friends attend Jose Fernandez's private funeral Mass Family, friends attend Jose Fernandez's private funeral Mass
- October 02, 2016

A private funeral will be held today for family, friends and players. It was the second game back for the Marlins after the tragic passing of Fernandez, who died in a boating accident earlier in the week. The last formal farewell came at a private Catholic mass attended by about 300 friends and relatives who almost filled the large sanctuary. They wore T-shirts reading "RIP" while clustering around the limousine carrying Fernandez's casket to church for a viewing. (more...)
Oil prices drop as Russian Federation waits on OPEC's output cut Oil prices drop as Russian Federation waits on OPEC's output cut
- October 02, 2016

Russia , not an Opec member but a large producer now pumping crude at record high levels, said it would find a way to freeze production if the country reaches an agreement with Opec members. Now, each member's output levels will be decided at the next formal OPEC meeting in Vienna in November, when non-OPEC countries such as Russian Federation could also be invited to join the cuts. (more...)
Deutsche Bank Rebounds as Cryan Moves to Shore Up Confidence
- October 02, 2016

Although a newspaper report earlier this week suggested the German government had made some provisional plans to rescue Deutsche, this would be politically unpopular. Shares of Deutsche Bank fell 9% to less than €10 in early European trading Friday to their lowest price in decades, before recovering to gain 6.4%. (more...)
Daniel Ricciardo wins Malaysian Grand Prix
- October 02, 2016

Hamilton was on course to cruise to the 50th victory of his career in Malaysia and move at least five points clear of his sole rival Nico Rosberg, who fought back to finish third following a first-corner collision with Sebastian Vettel, in the championship race. (more...)
Wells Fargo Illegally Took Back 431 Vehicles From Veterans
- October 02, 2016

Stumpf was called upon several times to resign by members for the House Financial Services Committee during a almost four-hour grilling Thursday. Stumpf will tell lawmakers on Thursday that Wells Fargo will eliminate sales quotas for branch staff beginning October 1, accelerating the plan from January 1, according to prepared testimony he will deliver. (more...)
OPEC nations reach preliminary accord to curb oil production
- October 02, 2016

OPEC in a statement said members "took into account current market conditions and immediate prospects and concluded that it is not advisable to ignore the potential risk that the present stock overhang may continue to weigh negatively well into the future, with a worsening impact on producers, consumers and the industry". (more...)
Severe storms knock out power to Australian state
- October 02, 2016

He argued unrealisticly high state targets could raise "real issues for the stability of the system. and the most efficient allocation of resources". Traffic lights were rendered inoperational, choking roads in the CBD. Other towns including Gawler, Kapunda, Clare and Balaklava were also hammered by the storm , which dumped large hail over the region. "Evidence suggests there could have been a tornado because of the level of the destructive winds there", he said. (more...)
Trump's 1995 tax records suggest no federal taxes for years
- October 02, 2016

The tax experts consulted by The Times said the $916 million net operating loss declared by Trump in 1995 nearly certainly included large net operating losses carried forward from the early 1990s, when most of Trump's key holdings were hemorrhaging money. (more...)
IMF welcomes BOJ new policy framework, sees 2 percent inflation elusive IMF welcomes BOJ new policy framework, sees 2 percent inflation elusive
- October 02, 2016

The BOJ has used an aggressive bond buying program, which runs at 80 trillion yen ($790 billion) a year, to keep rates down to help the fragile economy, and officials said they would not rule out buying fewer, or even selling bonds, to prevent yields from falling too much. (more...)
Deutsche Bank Rebound, Oil Gains Propel Wall Street Higher
- October 02, 2016

The German bank has been hurt by the U.S. Justice Department, which has slapped a $14 billion fine on Deutsche Bank for its role in selling risky residential mortgage backed securities in the run-up to the financial crisis back in 2008. In a letter to Deutsche Bank employees, he said the bank has $241 billion in reserves and is meeting its capital requirements. Costco's rivals in retail also climbed, with Wal-Mart Stores gaining 2.0 per cent and Target 1.4 per cent. (more...)
Stocks, euro rise as Deutsche Bank shares rebound
- October 02, 2016

French news agency AFP reported late Friday afternoon that Deutsche Bank had reached a deal to settle the allegations for only $5.4 billion. Today's rally in stocks lured some money out of the Treasury market, sending the 10-year yield higher by 4 bps to 1.60%. (more...)
OPEC Deal To Cut Oil Production Could Lead To Higher Gas Prices
- October 02, 2016

The size of the cut was modest - to between 32.5 million and 33 million barrels per day from just below current levels of around 33.2 million barrels per day. Once the OPEC deal is confirmed, Marino Valensise, Head of Multi Asset at Barings Asset Management, said oil prices will likely drift higher to between $55 and $60. (more...)
Trump Goes OFF on Former Miss Universe & 'Crooked' Clinton
- October 02, 2016

Hillary Clinton's campaign pounced on Donald Trump's overnight Twitter tirade against former Miss Universe Alicia Machado, blasting him not only for fixating on Machado but for his treatment of women in general. Meanwhile, heading toward the next debate, Flynn denied a report in The New York Times , where seven campaign aides and advisers, speaking anonymously, said they were frustrated and disappointed over Trump's performance. (more...)
South Australia restores power amidst more storm threats
- October 02, 2016

But the wind had the biggest impact on the state's electricity grid - knocking over nearly 2 dozen transmission towers which knocked out power to the entire state - leaving 1.7 million people in the dark. He told reporters in Tasmania this morning that intermittent renewable energy sources posed a "real threat" for energy security. High winds are expected to continue on Thursday across the state, with the storm moving northwest into New South Wales. (more...)
With questions at QB, Patriots prep for Bills
- October 02, 2016

Rex Ryan has been in a cheeky mood all week leading up to his Buffalo Bills matchup against the New England Patriots. Johnson appeared in two of the Patriots' first three games of the season and was credited with five tackles and one quarterback hit. (more...)
Michelle Obama appears in a Hillary TV ad Michelle Obama appears in a Hillary TV ad
- October 02, 2016

The objective of Michelle Obama's first of two stump speeches for Hillary Clinton in battleground Pennsylvania today was clear: hype Clinton and tarnish Donald Trump, while getting young people out to vote. He said O'Donnell deserved the barbs he hurled which included calling her fat, a pig and a slob. He also called Venezuelan-born Machado "Miss housekeeping". (more...)
McIlroy finally beats Lefty at Ryder Cup McIlroy finally beats Lefty at Ryder Cup
- October 02, 2016

Sergio Garcia, playing his eight Ryder Cup, was particularly critical of the crowd. The two American strongmen, however, made the most of their reprieve by squeezing past Justin Rose and Henrik Stenson 2 and 1 in the pivotal last match of the day. (more...)
OPEC agrees modest oil output curbs in first deal since 2008 OPEC agrees modest oil output curbs in first deal since 2008
- October 02, 2016

Oil prices surged in response. Brent and USA crude are on course for a weekly gain of around 7 percent, prompting investors to take profits in the Asian trading session, said Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance. (more...)
Saudi Arabia condemns passage of US 9/11 law Saudi Arabia condemns passage of US 9/11 law
- October 02, 2016

Saudi could use its leverage in the Gulf to block counterterrorism cooperation and withdraw billions of dollars from the U.S. economy. A ministerial source said the Justice Against Sponsors of Terrorism Act (JASTA ) would contribute to the " erosion " of the principle of sovereign immunity, which has governed worldwide relations for hundreds of years, read a statement on the state-run news agency. (more...)
Man dies after police use Taser during struggle in Pasadena; investigation underway Man dies after police use Taser during struggle in Pasadena; investigation underway
- October 02, 2016

Pasadena police say they were called to a home on Orange Grove Boulevard at about 2:20am Friday morning for a " domestic disturbance with a suspect at the location armed with a knife ". The Pasadena Police Department will also conduct an independent administrative Investigation "to examine policies, tactics, training, equipment, and the officers' state of mind", Sanchez added. (more...)