Markets


USA crude settles down 2.27% at $50.43, reversing previous session's rally
- October 24, 2016

Oil prices fell about 2 percent on Thursday, as a resurgent dollar encouraged players to take profit on the previous day's rally that had sent US crude to 15-month highs. "The report was bullish, due to the large drop in crude oil inventories, caused by a significant drop in imports that came in below 7 million barrels per day", said John Kilduff, partner at NY energy hedge fund Again Capital. (more...)
Samsung almost doubles size of fiery phone recall Samsung almost doubles size of fiery phone recall
- October 24, 2016

Samsung has significantly lowered its profit forecast for the quarter thanks to recall costs and lost sales of the Note 7-down to about $4.6 billion from about $6.8 billion. "As a sign of our appreciation for your patience and loyalty, we are offering up to a $100 bill credit from select carrier or retail outlets if you exchange your Galaxy Note7 for another Samsung smartphone, less any incentive credits already received", Samsung explained . (more...)
Samsung puts booths in Aussie airports to swap exploding Note 7s Samsung puts booths in Aussie airports to swap exploding Note 7s
- October 24, 2016

This is part of a global recall by the world's largest phone maker after there are reports that some of its devices were exploding. Samsung confirmed it is expanding a United States recall of the infamous smartphone to a total 1.9 million Note 7 phones, which includes the 1 million Galaxy Note 7s it recalled on September 15th 2016. (more...)
Nissan Takes Controlling Stake In Mitsubishi, Pledges Support For Turnaround Nissan Takes Controlling Stake In Mitsubishi, Pledges Support For Turnaround
- October 24, 2016

Mitsubishi is looking to regain trust in its home market after it was revealed it had falsified fuel economy data for the last past 25 years in Japan, although no United Kingdom models are affected. Above: Nissan Dayz Roox, a Mitsubishi-developed kei auto caught with falsified fuel economy numbers. Still, Mitsubishi Motors is likely to face a hard road ahead as domestic vehicle sales are expected to tumble 41 percent in fiscal 2016 from the previous year. (more...)
Samsung Hit With Class Action Lawsuit Over Note 7 Debacle Samsung Hit With Class Action Lawsuit Over Note 7 Debacle
- October 24, 2016

We reported earlier this week that Samsung's latest flagship phone iteration, the Galaxy Note 7 , has been strictly banned from all flights leaving and entering the US . American Airlines Group Inc. will take any Note 7 phones discovered at airports and follow existing procedures for any hazardous material. In the statement, Park Jong-suh, vice president of Samsung's smartphone business division, apologized for causing the suppliers trouble following the discontinuation of the Note 7. (more...)
State, local jobless rates up in September State, local jobless rates up in September
- October 24, 2016

IN is also reporting the lowest unemployment rate of the surrounding states, with OH the closest at 4.6 percent. Counties with the lowest unemployment rates are: Shelby County at 4.2 percent, Lee and Elmore Counties at 4.8 percent, and Cullman and Cherokee Counties at 4.9 percent. (more...)
Tesco and Unilever strike deal over Marmite price war Tesco and Unilever strike deal over Marmite price war
- October 24, 2016

Ken Odeluga, a market analyst at City Index, said more disputes of this type should be expected - especially if the pound weakens further. Tesco shares were down 2.73% and Unilever was down 4.26% in afternoon trading. "Clearly the scale of the negotiation is much bigger than usual, but so is the event". And what other supermarket favourites could we not afford to lose? Pitkethly admitted as the company released results that "prices should start to increase to cover the cost of imported ... (more...)
Fed minutes show rare dissent over rate hikes
- October 24, 2016

In their view, the Fed can afford to stay patient as core inflation runs below 2% and there is little sign of increasing underlying inflation pressure as wage growth is subdued. China's September exports dropped 10 percent from a year earlier, far more than what markets had expected, while imports unexpectedly shrank 1.9 percent after an encouraging bump up in August, official data showed on Thursday. (more...)
British American Tobacco Offers to Buy Reynolds in $47 Billion Deal
- October 24, 2016

BATS has held a large chunk of Reynolds for 12 years after it merger its US operations with RJ Reynolds, the second largest tobacco company in the US after Altria Group Inc (NYSE:MO), which owns Philip Morris USA Inc. The company noted that the USA securities law required BAT to announce its merger proposal promptly after it was made to the Board of Reynolds. Reynolds said it will evaluate the offer. (more...)
State jobless rate hits 15 year low State jobless rate hits 15 year low
- October 24, 2016

Florida's only industry that lost jobs over the year was information , 4,300, or 3.2 percent. "We will continue to do all we can to encourage job creators to invest in our state so we can create more opportunities for Floridians to provide for their families and achieve their dreams", said Gov. (more...)
Nintendo Switch Dock is not the main console
- October 24, 2016

We did see a new Mario, Mario Kart, The Legend of Zelda: Breath of the Wild and other games running on it, but other than that that's all we know. Yesterday, Nintendo finally unveiled the "Nintendo Switch", previously codenamed the Nintendo NX. (more...)
Trump, Clinton spending furiously as Election Day nears
- October 24, 2016

Underpinning Trump's threat that he may challenge the results is his assertion - presented with no evidence - that the election is "rigged" against him and may be soiled by widespread voter fraud. It showed that 63% of Americans, including a third of Republicans, believe the NY real estate mogul has committed sexual assault in the past, though the Republican presidential candidate has denied the recent accusations. (more...)
Philippine president realigns with China; 'America has lost'
- October 24, 2016

He recently said he would end joint military exercises with American troops and told US President Barack Obama he could "go to hell" after US criticism over his bloody war against drugs. Prime Minister Abe plans private personal meetings with President Duterte, seeking to keep him onside with US-led efforts to contain Beijing's South China Sea ambitions, three sources said. (more...)
Boat That Capsized In San Francisco Bay Located
- October 24, 2016

Four other victims, including a child who was also listed in critical condition, were also taken to different hospitals, according to San Francisco Fire Department officials. "There was just a ton of people in the water", witness David Griffiths said. A good Samaritan reportedly performed CPR on the boy until police officials came to take over. (more...)
U.S. telecoms giant AT&T agrees to buy Time Warner for $85bn U.S. telecoms giant AT&T agrees to buy Time Warner for $85bn
- October 24, 2016

Our goal is to solve that. But the financial bedrock of traditional TV and wireless service looks shakier than ever. Consumer Reports has no relationship with any advertisers on this site. Regulators, Handler said, would ask whether creators in the shadow of the AT&T juggernaut could "survive in this new ecosystem". Time Warner shares jumped on news of the talks, closing up $3.75, or 4.7%, to $82.99. (more...)
Defending champion Justin Thomas two-shots clear of CIMB Classic field
- October 24, 2016

An eagle on the fifth hole kept Lahiri within touching distance, but Thomas had already stretched the lead at the top by that stage, with birdies on four out of the first five holes. "I really need a low round tomorrow and get up near double digits under par, and try and get back in this thing". "I would have liked to be in a better position the way I've played but it's not over yet", said Lahiri, a seven-time victor on the Asian Tour and chasing a first PGA Tour title. (more...)
Donald Trump rally crowd breaks out into 'Paul Ryan sucks' chant Donald Trump rally crowd breaks out into 'Paul Ryan sucks' chant
- October 24, 2016

One complained that Democrats are "far more loyal to each other than the Republicans! ". At the moment, Trump has become consumed with the idea that the election is rigged against him in nearly every way - the media are undermining him, women he finds insufficiently attractive are telling lies about him, Republican Party leaders aren't backing him up, Democrats are planning to steal the vote, people of color are going to all vote 10 times, and a shadowy global cabal is conspiring against ... (more...)
Europe's Mars probe crashes seconds before landing: ESA
- October 24, 2016

Based on preliminary interpretation of a new image captured by a camera on NASA's Mars Reconnaissance Orbiter, the European Space Agency (ESA) believes that its Schiaparelli Mars lander might have exploded on impact during its arrival on the Red Planet on October 19. (more...)
Philippine President Duterte scales back anti-US comments
- October 24, 2016

On Thursday, he told Filipino and Chinese businessmen and officials in a China forum that "in this venue, I announce my separation from the U.S.". Even as the president vowed an independent foreign policy, Philippine police forces still act as running dogs of the U.S". He said both the Philippines and China "acknowledged the need to settle disputes through peaceful means in accordance with global law". (more...)
World Bank raises 2017 crude oil prices' forecast to $55 per barrel
- October 24, 2016

The World Bank raised its crude oil price forecast for 2017 to $55 per barrel (bbl) on October 20 from $53/bbl because it expects an output agreement among OPEC to help trim excess supply. Late Tuesday, the American Petroleum Institute, an industry group, said inventories fell by 3.8 million barrels. "What we see now is somewhat consolidating in a wait-and-see mood", said Frank Klumpp, oil analyst at Stuttgart-based Landesbank Baden-Wuerttemberg. (more...)

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