Money

Money Brent Oil Recovers Following OPEC Oil Output Cut Announcement
Author: 0 Brent Oil Recovers Following OPEC Oil Output Cut Announcement

At the last OPEC meeting in Vienna, the agreement was again extended until the end of 2018. The Organisation of the Petroleum Exporting Countries (OPEC) expects demand for its oil to fall next year, as global supplies, particularly in USA shale continue to rise.

Money Google CEO Sundar Pichai testifies before House committee
Author: 0 Google CEO Sundar Pichai testifies before House committee

Zoe Lofgren also had some questions for Pichai on how Google's search engine works. Mr Pichai replied that Google search results were based on billions of keyword ranked according to more than 200 factors, including relevance and popularity.

Money China's Huawei executive bail hearing adjourned to Tuesday
Author: 0 China's Huawei executive bail hearing adjourned to Tuesday

In particular, Huawei used a Hong Kong-based company, Skycom, as a front for Huawei's "operating" in Iran despite US sanctions, and Meng falsely claimed to "numerous multinational financial institutions" that Skycom was not connected to Huawei so that those institutions would carry out hundreds of millions of dollars in otherwise prohibited transactions, according to court documents released in Canada .

Money As Theresa May faces leadership vote, a look at what happens next
Author: 0 As Theresa May faces leadership vote, a look at what happens next

If May can not win the support of a majority of her 315 parliamentary colleagues then she will be kicked out as leader - and prime minister. "That might include an addendum to the Withdrawal Agreement that sets out that Parliament will vote prior to going into a backstop, should that prove necessary, and potentially that the EU Parliament and UK Parliament must vote every year thereafter to provide that legitimacy for the UK to stay in the backstop, should that prove necessary", she told ...

Money Oil Prices Up After OPEC, Partners Agree to Production Cut
Author: 0 Oil Prices Up After OPEC, Partners Agree to Production Cut

However, OPEC might not disclose individual output quotas, sources said. OPEC's de facto leader Saudi Arabia, under economic pressure after a collapse in oil prices last month, has sought to walk a fine line between preventing a surplus next year and appeasing Trump.

Money Hundreds Arrested in Paris Amid Yellow Vest Protests
Author: 0 Hundreds Arrested in Paris Amid Yellow Vest Protests

They were clad in yellow hi-vis vests, the symbol of a movement that began as a protest against rises in tax on diesel and has quickly turned into a wider expression of discontent with the government. Macron himself, the target of much of the protesters' ire, has been largely invisible in recent days, leaving his prime minister and government to try to negotiate with protesters.

Money US stocks sharply higher on US-China trade truce; oil surges
Author: 0 US stocks sharply higher on US-China trade truce; oil surges

In return for the postponement in the higher US tariffs, the White House said China had agreed to step up its purchases of USA farm, energy and industrial goods. China agreed to resume purchases of some US farm and energy commodities. Trump administration officials on Tuesday were expected to push senior executives of leading German automakers to expand their investments in the United States as the White House considers imposing new tariffs on European-made vehicles.

Money OPEC members expected to agree oil production cut
Author: 0 OPEC members expected to agree oil production cut

That would include production for both OPEC countries as well as non-OPEC countries, like Russian Federation, which have in recent years been co-ordinating their production limits with the cartel, he said. Iran has said it is carefully monitoring the next steps by some OPEC members and their allies which have "arbitrarily" ramped up oil production, leading to a crash in prices.

Money Trump optimistic despite haze around China trade
Author: 0 Trump optimistic despite haze around China trade

Answer: The Chinese side will start by implementing concrete aspects of the agreed-upon consensus, the sooner the better. It was welcome news for the American president after Tuesday's almost 800-point slip on Wall Street - Trump's favorite economic indicator.

Money Alberta government imposes oil production cuts for province
Author: 0 Alberta government imposes oil production cuts for province

The Alberta announcement came just hours after Russian Federation and Saudi Arabia agreed to extend their deal to manage the oil market into 2019, sending West Texas Intermediate prices up as much as 5.7 per cent. The planned cuts by the world's fifth-biggest producer follows a renewed commitment over the weekend by Saudi Arabia and Russian Federation to extend their deal to manage the oil market.

Money Huawei Arrest: Canadian police arrest China tech giant's CFO
Author: 0 Huawei Arrest: Canadian police arrest China tech giant's CFO

Data showed the US trade deficit jumped to a 10-year high in October, suggesting the Trump administration's tariff-related measures to shrink the trade gap were ineffective. Washington has previously raised concerns about the Chinese conglomerate because of its links to Beijing's government. The U.S. has been looking into Huawei's alleged shipping of products to Iran since 2016, as these actions violate the country's export and sanctions laws.

Money Trump Touts Benefits of China Trade Truce for U.S. Farmers
Author: 0 Trump Touts Benefits of China Trade Truce for U.S. Farmers

China's President Xi Jinping and first lady Peng Liyuan arrive at Ezeiza International airport in Buenos Aires, Nov. 29, 2018. Trump said in exchange for the pause, China intends "to start purchasing agricultural product immediately" after saying in a late Sunday night tweet that Beijing "agreed to reduce and remove" a 40 percent tariff on USA vehicle imports.

Money Huawei CFO arrested in Vancouver as US seeks her extradition
Author: 0 Huawei CFO arrested in Vancouver as US seeks her extradition

The daughter of Huawei's founder, and the firm's current deputy chair, has been arrested in Canada. In a statement issued exclusively to the News from Huawei's corporate head office, the company explained how Meng was "provisionally detained by the Canadian authorities on behalf of the United States of America, which seeks the extradition of..." Canadian authorities for their part are not providing any details beyond the arrest, and various US news organizations have been unable to ...

Money US, China are 'pretty close' to a deal on tech theft: Kudlow
Author: 0 US, China are 'pretty close' to a deal on tech theft: Kudlow

If talks fail, the tariff rate on $200 billion of the original $253 billion worth of goods will be hiked from 10 percent to 25 percent. White House economic adviser Larry Kudlow said earlier this week the US won Chinese commitments to buy more than $1 trillion in American products.

Money Trump to kill existing NAFTA text to push Congress to approve USMCA
Author: 0 Trump to kill existing NAFTA text to push Congress to approve USMCA

Congress should work quickly to ratify the newly signed U.S. -Mexico-Canada Agreement (USMCA) to provide market certainty and stimulate investment in the economy, said Association of American Railroads President and Chief Executive Officer Edward Hamberger in a press release.

Money Qualcomm Rules Out Another Bid for NXP After China Opens Door
Author: 0 Qualcomm Rules Out Another Bid for NXP After China Opens Door

Qualcomm told Reuters that although it welcomed the development, the deadline for the deal to be completed had passed and it had no interest in resurrecting the deal. Since Qualcomm has significant ties with Chinese OEMs, the chip maker had no choice but to agree with China's decision. Qualcomm used share buybacks of $5 billion to try to maintain its stock price for their shareholders after the deal was cancelled.

Money Trump, Xi agree to temporary truce on trade
Author: 0 Trump, Xi agree to temporary truce on trade

US-made vehicle brands like Tesla Inc and Ford Motor Co's Lincoln were at a major disadvantage as the move came soon after China slashed auto import tariffs for the wider market to 15 percent from 25 percent. "We'll see what happens". The news comes as Trump mulls a tariff hike on vehicles imported from the European Union. Cohen admitted to lying to Congress about the scope and timetable of his former boss's efforts to build a tower in Moscow .

Money Qatar Quitting OPEC to Focus on Exports of Liquefied Natural Gas
Author: 0 Qatar Quitting OPEC to Focus on Exports of Liquefied Natural Gas

But losing a long-standing member undermines a bid to show a united front before a meeting that is expected to back a supply cut to shore up crude prices down nearly 30% since an October peak. close. "They debated 'what does the withdrawal mean to OPEC and global energy market and to Qatar?", market sources told The Peninsula. The small state increased its gas production in response.

Money Police Raid Deutsche Bank on Money Laundering Charges
Author: 0 Police Raid Deutsche Bank on Money Laundering Charges

The inquiries focus on events in 2013 through 2018, a spokeswoman for the prosecutor's office said . In Germany the Prosecutor's office of Frankfurt am main and the Federal criminal police office carried out searches at the offices of Deutsche Bank .

Money Was Post-Fed Chair Speech Rally a Market Overreaction?
Author: 0 Was Post-Fed Chair Speech Rally a Market Overreaction?

Powell said that "there is no preset policy path" for future rate hikes and the current level for the Fed's benchmark rate was very close to "neutral", the point where the Fed is neither stimulating economic growth or slowing growth. His comments were interpreted by many investors as a signal that the Fed's three-year tightening cycle is drawing to a close. Minutes of the November 7-8 meeting of the Fed's rate-setting body, the Federal Open Markets Committee, show that officials ...

Money Trump warns GM could lose subsidies over layoffs
Author: 0 Trump warns GM could lose subsidies over layoffs

Trump and Canadian Prime Minister Justin Trudeau "discussed their disappointment in the announced closures of General Motors plants in their respective countries" during a phone call on Tuesday, White House spokesman Hogan Gidley said. "But I think it's more of a strategic adjustment by General Motors to prepare itself for a future in which it's trying to get ahead of the technology curve".

Money The price of oil has updated the annual minimum
Author: 0 The price of oil has updated the annual minimum

Iraq will work with OPEC and other partners to stabilize oil markets and isn't concerned about further declines in crude prices, Fayyad Al-Nima, deputy oil minister for refining affairs, said on November 21. Before the OPEC meeting, the world's top three producers - the United States, Russia and Saudi Arabia - will be part of a meeting this weekend of the Group of 20 industrialised nations in Buenos Aires, Argentina.

Money Closure of GM's Oshawa plant reveals rapid changes in auto industry
Author: 0 Closure of GM's Oshawa plant reveals rapid changes in auto industry

We've known for some time that North American consumers just aren't buying sedans much anymore, especially not North American ones. The decision, announced Monday , will impact Detroit-Hamtramck Assembly in Detroit , Lordstown Assembly in Warren, Ohio, and Oshawa Assembly in Oshawa, Ontario.

Money Dollar weakens as cautious Fed leads to rate-hike rethink
Author: 0 Dollar weakens as cautious Fed leads to rate-hike rethink

The pan-European STOXX 600 index was down 0.01 percent and MSCI's gauge of stocks across the globe gained 0.08 percent. "The unemployment rate is 3.7-percent, a 49-year low, and many other measures of labor market strength are at or near historic bests", he explained.

Money China hopes for positive results from USA talks at G20
Author: 0 China hopes for positive results from USA talks at G20

Apple's phones have been exempt from Trump's 10 percent tariff on $200 billion worth of imported Chinese goods. "The China-U.S. summit is just around the corner", Geng said. Economic troubles could spread much further if Trump goes through on a threat to impose auto tariffs on trading partners including Europe and Japan , the International Monetary Fund warned in a pre-G20 report .

Money Theresa May's Brexit deal 'meaningful vote' to be held on December 11
Author: 0 Theresa May's Brexit deal 'meaningful vote' to be held on December 11

Mrs May will argue that her deal will a free trade area for goods with no tariffs, fees or charges that will benefit British firms. May has two weeks to convince the public, and, crucially, a divided parliament, before the December 11 vote in the House of Commons that risks ending in a humiliating defeat and sinking the deal.

Money Trump adviser: US 'disappointed' in China's trade stance
Author: 0 Trump adviser: US 'disappointed' in China's trade stance

Mr Trump also said he would hit the rest of Chinese imports to the United States with tariffs if talks did not go well. Trump has apparently not yet decided whether this new tariff will be 10% or 25%, but when asked about potential backlash, he indicated that consumers would "very easily" accept a 10% increase on phone prices.

Money GM may close Detroit-Hamtramck, Warren plants in 2019 restructuring
Author: 0 GM may close Detroit-Hamtramck, Warren plants in 2019 restructuring

Among the facilities on the chopping block are the Detroit/Hamtramck assembly plant, which makes the Buick LaCrosse , the Chevrolet Impala and Volt, and the Cadillac CT6, all slow-selling cars. Trump said Monday that he was unhappy about the Lordstown plant stopping production, and that GM should use the factory for another auto. It's part of a major restructuring that will prioritize the company's electric and autonomous vehicle programs.

Money European Amazon Workers Protest Black Friday
Author: 0 European Amazon Workers Protest Black Friday

Amazon wanted a police presence at the warehouse to ensure that productivity remained high within the fulfilment center, while workers staged their protest outside, according to Spanish newspaper El Confidencial . Membership in the union among Amazon employees is small, national officer Mick Rix said. The demonstrations look meant to not only apply pressure on Amazon to accept collective bargaining but encourage users of its website to think about the wider costs involved in packing ...

Money Brussels will not offer us a better Brexit deal: Theresa May
Author: 0 Brussels will not offer us a better Brexit deal: Theresa May

Spanish Prime Minister Pedro Sanchez, left, is welcomed by European Union Council President Tusk on October 17. However, as May signed up Britain to the terms of the deal agreed in principle last week, members of her Cabinet at home threatened to force her to throw out the deal if and when it is rejected by the United Kingdom parliament.

Money Wild Ride: US Stock Markets See Dramatic Drop Again
Author: 0 Wild Ride: US Stock Markets See Dramatic Drop Again

Both are still down sharply from the highs they reached earlier in the fall. Autodesk Inc jumped 10.3 percent after the software company reported third-quarter results above analysts' estimates and announced an $875 million deal to buy cloud-based software company PlanGrid.

Money Tesla cuts China car prices to absorb hit from trade war tariffs
Author: 0 Tesla cuts China car prices to absorb hit from trade war tariffs

First, this Thursday onwards, the EV maker has slashed the prices of the Model X and Model S by 26% and 12% respectively. China is the largest vehicle country in the world, so to completely abandon the sale of cars, the heads of Tesla have no right to, as it will lead to serious economic problems, including within the company.

Money Climate change will cost the United States economy hundreds of billions of dollars
Author: 0 Climate change will cost the United States economy hundreds of billions of dollars

The long-awaited White House report was quietly issued Friday and outlines how climate change will affect the economy, communities, and infrastructure, as well as how the nation can reduce risks. Report co-author Donald Wuebbles, a University of IL climate scientist, said things will just get worse from here. "Without substantial and sustained global mitigation and regional adaptation efforts, climate change is expected to cause growing losses to American infrastructure and property and ...

Money Chinese online shopping sites ditch Dolce & Gabbana in ad backlash
Author: 0 Chinese online shopping sites ditch Dolce & Gabbana in ad backlash

It's not the first gaffe by Dolce & Gabbana in China , where the brand came under fire on social media previous year for a series of advertisements showing the grungy side of Chinese life. Chinese customers account for more than a third of spending on luxury products worldwide, and are increasingly shopping for these in their home market rather than on overseas trips.

Money My deal will control migration without hitting jobs, says May
Author: 0 My deal will control migration without hitting jobs, says May

There is more negotiation taking place. To trigger a vote of no confidence in her leadership, a total of 48 Conservative lawmakers need to submit letters, texts or emails calling for one . He told Pienaar's Politics: "Victoria does not know, nor do the two vice-chairmen of the 1922 Committee or the other officers". Currently, it is expected to end at the end of 2020.

Money Amazon leaks users' email addresses due to 'technical error'
Author: 0 Amazon leaks users' email addresses due to 'technical error'

The company sent out emails to users affected to let them know what happened. The ICO acknowledged our phone call seeking comment but has yet to get back to us. Amazon clarified that the disclosure was not the result of a breach of the company's websites or any of its systems. Amazon has been quietly notifying users of a data breach, with the shopping behemoth "inadvertently" revealing email addresses of shoppers.

Money Fears over Brexit deal sign-off this weekend as UK-EU talks 'continue'
Author: 0 Fears over Brexit deal sign-off this weekend as UK-EU talks 'continue'

Borrell warned that his country's support for the deal is now contingent on the content of the political declaration on the future ties between the two sides. "As of today, if there are no changes with respect to Gibraltar, Spain will vote no to the agreement on Brexit". The robust statement during Prime Minister's questions came as Gibraltar, the United Kingdom and Spain finalised work on the agreements that accompany the Gibraltar Protocol in the draft Brexit divorce deal.

Money Ghosn custody extended as crisis deepens at Nissan
Author: 0 Ghosn custody extended as crisis deepens at Nissan

In a statement released after the meeting, the Renault board said it had made a decision to ask its partner Nissan to "provide all information in their possession arising from the internal investigations related to Mr Ghosn". Ghosn and Greg Kelly , a representative board member, were arrested on November 19 on suspicion of violating the Financial Instruments and Exchange Law.

Money Why is it called Black Friday?
Author: 0 Why is it called Black Friday?

Black Friday is generally considered the year's biggest shopping day, seeing as it kicks off most retailers' holiday season. At Amazon , the UK's biggest online retailer and the nation's fifth largest retailer overall, a 60-inch LG TV was advertised at £799 on Black Friday.

Money Nissan's Ghosn scandal: The brand impact
Author: 0 Nissan's Ghosn scandal: The brand impact

Firstly, Ghosn. Nissan said on Monday the Alliance's chairman was under investigation for several months after an unnamed whistleblower alerted the Japanese about his habit of under-reporting compensation amounts to the Tokyo Stock Exchange.

Money Oil prices climb on prospect of OPEC and Russian cuts
Author: 0 Oil prices climb on prospect of OPEC and Russian cuts

The modest gains were said to have been triggered by news from Genscape that USA crude inventories fell in the latest week; but Stephen Innes, strategist for OANDA, pointed out that while prices have also risen "on hope OPEC [the Organization of the Petroleum Exporting Countries] and partners will act to reverse bearish sentiment.from a technical set up, bear mode remains intact".

Money Escalating China-US spat frustrating: PM
Author: 0 Escalating China-US spat frustrating: PM

China reportedly objected to portions of the draft statement, particularly a line condemning "unfair trade practices". The United States will not back down from its trade dispute with China, and might even double its tariffs, unless Beijing bows to U.S.

Money Nissan reportedly to fire chairman Carlos Ghosn over misconduct
Author: 0 Nissan reportedly to fire chairman Carlos Ghosn over misconduct

Nissan further said that CEO Hiroto Saikawa would propose to the Nissan board to remove Ghosn and Kelly. In a statement , Nissan said it had been investigating Ghosn and Kelly for months, after receiving a report from a whistleblower. Japanese news outlet Yomiuri has reported that Ghosn has been arrested in Japan, although this is still to be verified. The actual amount he made was hundreds of millions of yen more, say people familiar with the matter.

Money Protester killed in French 'yellow-vest' road blockades
Author: 0 Protester killed in French 'yellow-vest' road blockades

Sixteen people suffered minor injuries in other accidents across the country, and a person run over by a vehicle in northern France was in a critical state, according to the interior ministry, which estimated some 50,000 demonstrators were participating in Saturday's protests.

Money Jennie-O ground turkey products recalled for salmonella concern
Author: 0 Jennie-O ground turkey products recalled for salmonella concern

It notes salmonella is not considered an adulterant in raw poultry unless products can be clearly linked to illnesses. "The USDA should immediately make public which turkey producers, suppliers, and brands are involved in this outbreak - especially with Thanksgiving right around the corner", Jean Halloran, director of Food Policy Initiatives for Consumer Reports , said in a statement .

Money Trump on China: 'Can't have trade that's meant for stupid people'
Author: 0 Trump on China: 'Can't have trade that's meant for stupid people'

Trump has imposed tariffs on $250-billion of Chinese imports to force concessions from Beijing on the list of demands that would change the terms of trade between the two countries. "If there is a deal to be had with China it's a deal that has to be in America's interests...." "I think we'll probably get them too", he added. "He was freelancing.

Money Theresa May's Brexit deal gets backing of cabinet
Author: 0 Theresa May's Brexit deal gets backing of cabinet

Now we have recently had the news that Dominic Raab has also resigned from the Cabinet. Her successor would also become prime minister. Allies of Theresa May have launched a desperate bid to woo rebel Tory MPs by floating the prospect of a better deal on Brexit , HuffPost UK has learned.

Money Oil price drops amid fears over demand
Author: 0 Oil price drops amid fears over demand

With widespread expectations of excessive global oil supply, the United States benchmark has found its way to the lowest price of the year so far. Crude oil has lost over a quarter of its value since early October in what has become one of the biggest declines since a price collapse in 2014.