• Trump has discussed firing Fed chairman Powell

    Trump has discussed firing Fed chairman Powell

    Business

    As the stock market tumbles and the Dow hits a low that it hasn't seen in almost 15 months, President Trump is shouldering much of the economic blame. "I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so", Mnuchin quoted Trump as saying. But investors' concerns over the chairman's comments led to US equities to record their steepest declines for any Federal Open Market Committee announcement day since 2011.
  • Dow Jones drops 470 points as market faces rate hike fallout

    Dow Jones drops 470 points as market faces rate hike fallout

    Business

    The Dow Jones Industrial Average was down 159.72 points, or 0.70 percent, at 22,699.88 and the Nasdaq Composite was down 132.14 points, or 2.02 percent, at 6,396.26. Declining issues outnumbered advancers for a 2.52-to-1 ratio on the NYSE and a 3.32-to-1 ratio on the Nasdaq. -The U.S. dollar ticked higher after two days of sharp losses brought on by fears about the economy and slower increases in interest rates .
  • GST Council extends Due Dates for Annual Returns and Other GST Returns

    GST Council extends Due Dates for Annual Returns and Other GST Returns

    Business

    GST rates have been reduced on 32-inch TV. Also third party insurance premium of goods carrying vehicles has been reduced from 18 per cent to 12 per cent. The council comprises representatives from the central and all state governments. The neutrality if the council in the decision making thus stands severely eroded and will be highly detrimental to the future functioning of the GST Council, he had said.
  • Apple to reduce production of new iPhone generation again

    Apple to reduce production of new iPhone generation again

    Business

    Their tactics, in the courts and their everyday business, are harming innovation and harming consumers. Apple went on to add, "Qualcomm insists on charging exorbitant fees based on work they didn't do". As a result, the court granted Qualcomm's request for an injunction against the affected models. Not only have sales of some of the company's newest smartphones been down, but its long-running legal spats with Qualcomm have started to take a turn for the worst.
  • Triple-amputee vet crowdfunds for border wall

    Triple-amputee vet crowdfunds for border wall

    Business

    The campaign comes as debate over the wall continues in Washington, as Trump wages war with Democrats in Congress, who refuse to fund his proposal. Within four days, more than 40,000 people have contributed to the campaign, donating more than $2.4 million to date.
  • Investors Nervous With Fed Meeting Ahead and a Santa Crash Behind

    Investors Nervous With Fed Meeting Ahead and a Santa Crash Behind

    Business

    Hong Kong's Hang Seng was 0.2 percent higher at 25,865.39. The Nasdaq composite rose 30.18 points, or 0.4 percent, to 6,783.91. Oil prices dropped 4 percent, weakening for a third consecutive session as reports of swelling inventories and forecasts of record USA and Russian output.
  • Flights suspended at Britain's Gatwick airport after reports of drones

    Flights suspended at Britain's Gatwick airport after reports of drones

    Business

    According to the BBC , "Two of the unmanned devices were reportedly spotted near a runway, leading to delays and diversions as flights were suspended". Fraser Hutcheson tweeted: "Had to land at Birmingham airport because #GatwickAirport has been closed due to drone activity". One of Britain's busiest airports has been closed after drones were seen over the airfield, stranding passengers just days before Christmas.
  • Parrot uses owner’s Amazon Alexa to play music, order watermelon, lightbulbs

    Parrot uses owner’s Amazon Alexa to play music, order watermelon, lightbulbs

    Business

    Despite being mischievous, Wischnewski thinks that her parrot is the sweetest. Rocco the parrot has formed a relationship with his owner's voice-activated Amazon Echo. The African Gray is a highly intelligent bird known for its ability to mimic words and sounds. Rocco was subsequently placed under the care of a NAWT employee named Marion Wischnewski whereupon he quickly started activating Alexa.
  • China orders up to 2 million tons of American soybeans, U.S. says

    China orders up to 2 million tons of American soybeans, U.S. says

    Business

    The latest U.S. moves follow debates within the Trump administration about imposing sanctions on Chinese entities caught stealing U.S. intellectual property through cyber attacks, three people familiar with the matter said. ING Bank's Greater China economist Iris Pang, who also estimated export growth for 2019 at 5 per cent, said she was not optimistic the trade war would be resolved next year.
  • Congress approves $400 billion for farmers, forests, poor

    Congress approves $400 billion for farmers, forests, poor

    Business

    The farm bill's allowance for the processing of hemp will likely force greater clarity on the issue as more companies rush to capitalize on the booming CBD market and hemp's newly legal status. "This long-term farm bill provides producers with the tools they need to succeed now and in the coming years". John Kennedy (R-La.) said in a statement provided to LifeZette.
  • Malaysia Agrees to Extend Oil Output Cut

    Malaysia Agrees to Extend Oil Output Cut

    Business

    The cartel's allies, who include Russian Federation and nine other non-OPEC oil producing nations, will also contribute to the deal by trimming their output by 400,000 bpd over the same period. -Saudi meeting after Friday's OPEC+ deal to cut oil production again. Libya announced during the week that one of its fields was occupied by a militia, which could result in a reduction of over 300,000 barrels per day of oil production as the field had to be shut for security.
  • In major shift, U.S. now exports more oil than it ships in

    In major shift, U.S. now exports more oil than it ships in

    Business

    In the earlier conversation, OPEC and its allies had proposed a reduction of 10 million barrels per day in oil production, in which 6.50 lakh OPECs were to be reduced. The oil price improvements came as a pair of junior Calgary oil companies announced they would cut payouts to shareholders and reduce production because of the current quarter's low oil prices to date.
  • Huawei executive's arrest will not hinder trade talks with China, Kudlow says

    Huawei executive's arrest will not hinder trade talks with China, Kudlow says

    Business

    Chinese Vice Foreign Minister Le Yucheng told Ambassador Terry Branstad that the United States had made an "unreasonable demand" to Canada of detaining Meng while she was passing through Vancouver, China's foreign ministry says. Canadian prosecutor John Gibb-Carsley said in a court hearing Friday that a warrant had been issued for Meng's arrest in New York Aug. 22. " "No one was injured and no arrests have been made." ".
  • Elon Musk: 'Twitter's a war zone'

    Elon Musk: 'Twitter's a war zone'

    Business

    As part of the settlement with the SEC , he agreed to let Tesla's board oversee communications relating to the company, which includes tweets. "And I can just call for a shareholder vote and get anything done I want". "I want to be clear: I do not respect the SEC", Musk said . Tesla CEO Elon Musk dismissed the idea that the company's new chairwoman can exert control over his behavior.
  • Just like Lyft, Uber has confidentially filed for its IPO

    Just like Lyft, Uber has confidentially filed for its IPO

    Business

    The news comes just days its USA rival, Lyft Inc. also filed for an IPO . The registration with the SEC indicates that Uber is already in the first quarter of 2019 its appearance can make on the stock market. It's growth also slowed to 38% amid rising competition globally as well as that from Lyft in its traditionally strong United States market. Meanwhile, its self-driving vehicle unit is costing the company about $200 million a quarter, according to investors, but Uber's program has ...