• IMF says Pakistan has not approached fund for deal
IMF says Pakistan has not approached fund for deal

Maurice Obstfeld , the IMF Economic Counsellor, warned against the rising tide of protectionism, saying that without multilateralism "the world will be a poorer and more risky place". The reason for the International Monetary Fund reducing its initial growth estimates is because of the imposition of duties on imports - read between the United Sta...

Read more

  • Read David Davis' letter on Brexit to all Tory MPs
Read David Davis' letter on Brexit to all Tory MPs

With the negotiations coming to a head, the central focus of the discussions is thought to have been the issue of the Northern Ireland "backstop" meant to ensure there is not return of a "hard border" with the Republic. But he also set out key objections to her proposed new trading relationship which involves a UK-EU customs partnership and a "comm...

Read more

  • Financial Times reports: UK PM Theresa May says Brexit deal is close
Financial Times reports: UK PM Theresa May says Brexit deal is close

Dimitris Avramopoulos, the European Union commissioner for migration and home affairs, said Barnier had briefed the body on the state of play in the negotiations. While London wants to regulate that by a future trade deal with the European Union, the bloc insists on an emergency fix in case negotiating new relations takes longer, or fails.

Read more

  • Tesla shares fall after Musk mocks SEC on Twitter
Tesla shares fall after Musk mocks SEC on Twitter

Musk appears to have run afoul of the $20 million settlement he recently reached with the Securities & Exchange Commission, with a tweet that called the federal regulator the " Shortseller Enrichment Commission " and mocking the " name change ".

Read more

  • Rupee Hits New All-Time Low Of 73.77 Against Dollar
Rupee Hits New All-Time Low Of 73.77 Against Dollar

The Reserve Bank of India (RBI) held interest rates unchanged at a policy meeting on Friday, sending the rupee tumbling to a record low and stunning analysts who had expected a rate increase to combat inflationary pressures arising from high oil prices.

Read more

  • OPEC output rises 30K bpd in September
OPEC output rises 30K bpd in September

Since mid-August, WTI has increased around 17 percent. That's the highest level since November 2014. Brent for December settlement increased as much as 54 cents to $83.27 a barrel on the ICE Futures Europe exchange and was at $83.17 at 12:22 p.m.in Singapore .

Read more

  • Amazon increases its minimum wage to $15
Amazon increases its minimum wage to $15

A public policy team employed by Amazon will begin pushing for an increase in the US federal minimum wage of $7.25 per hour. The rise for London workers will be 28%. Walmart announced back in January that it plans to raise its minimum wage to $11 per hour. "The current rate of $7.25 was set almost a decade ago", said Jay Carney, senior vice presi...

Read more

  • Elon Musk Settles With SEC, Quits As Tesla Chairman
Elon Musk Settles With SEC, Quits As Tesla Chairman

Securities and Exchange Commission on Monday, Tesla CEO Elon Musk said the electric auto maker is nearing profitability. Musk said August 7 in a company blog post that he was considering taking Tesla private at $420 per share, representing a 20% premium over the stock price following the company's second-quarter earnings release.

Read more

  • Elon Musk resigns, pays $20m fine in settlement with SEC
Elon Musk resigns, pays $20m fine in settlement with SEC

Likewise, Tesla will pay another $20 million due to its failure to check whether Musk's announcements complied with the law. Elon Musk will give up the role of Tesla Inc. But the claim on August 7 that he had the funding to take Tesla private, and a subsequent U-turn, stunned Wall Street and came amid public appearances which saw Musk smo...

Read more

  • Tesla stock roars back after Elon's SEC deal
Tesla stock roars back after Elon's SEC deal

USA securities regulators settled a lawsuit against Musk alleging that he made false and misleading statements about plans to take the company private in August. Stephanie Avakian and Steve Peikin, co-directors of the SEC's Enforcement Division, led the talks, taking the reins from the staff attorneys who worked the case, according two people f...

Read more

  • US OIL re-testing 50 MA. Trump's tweet in play?
US OIL re-testing 50 MA. Trump's tweet in play?

WTI prices were up Thursday morning on the news that USA crude oil inventories were down 2.1 million barrels last week, the fifth straight week of declines. The recent surge in United States oil production, led by the Permian Basin of West Texas , has allowed the energy industry to quickly recover from a deep slump that killed thousands of jobs an...

Read more

  • China's premier appeals for free trade amid tariff battle
China's premier appeals for free trade amid tariff battle

Trump said that he was always willing to make a better deal with China on trade, but warned them from trying to hurt farmers, ranchers, and industrial workers. "They worry that the tit-for-tat model is playing into Trump's hands". The trade rivalry between the US and China escalated to an unprecedented level on Tuesday, with both countries a...

Read more

  • Coca-Cola considers cannabis-infused drinks
Coca-Cola considers cannabis-infused drinks

This push for product diversification is perhaps also what could give the company an edge in the cannabis-infused beverages business. And the Green Party leader says he is now vindicated on the question of mass production of cannabis for medical purposes.

Read more

  • Trump raises stakes with new round of China tariffs
Trump raises stakes with new round of China tariffs

But if the administration enacts the additional tariffs on $267 billion in goods, it would engulf all remaining US imports from China and Apple products like the iPhone and its competitors would not likely be spared. The tariffs also threaten to undermine the prospect of any further talks any time soon with Beijing. "Sino-US economic and trade ...

Read more

  • Oil prices rise as focus returns to supply concerns
Oil prices rise as focus returns to supply concerns

The crude oil imports from Iran is ready to decline further by almost half from the starting of this year as India is negotiating with the United States to win waivers on export sanctions Washington plans to reimpose on Iran . The more pressing issue is the fact that Iran's exports are falling faster than most analysts had anticipated. ...

Read more

  • Jeff Bezos Pledges $2 Billion Toward Education and Homelessness
Jeff Bezos Pledges $2 Billion Toward Education and Homelessness

Jeff Bezos and his wife MacKenzie Bezos launched a US$2 billion fund to help homeless families and create a network of non-profit preschools in low-income communities. Trump has repeatedly said without evidence that package deliveries by the US Postal Service for Amazon were costing the service money. Bezos said it is important for politicians not...

Read more

  • Canada trade deal 'eminently possible,' Freeland says
Canada trade deal 'eminently possible,' Freeland says

The Canadian dollar edged up 0.07 cents to 0. If Canada is kicked out of the new NAFTA , Americans would see a number of industries negatively affected, from oil production to retail stores to tourism as Canadians will choose to buy more domestic products to avoid American ones .

Read more

  • Congress-led Bharat bandh fuels Opposition fire against Centre
Congress-led Bharat bandh fuels Opposition fire against Centre

Till May 31, when the LDF government effected a slight cut in the sales tax on petrol and diesel, Kerala's was the sixth highest sales tax levy on both petrol and diesel. AAP leaders staged a protest at Delhi's Jantar Mantar against the fuel price hike . This is the biggest increase in rates in any fortnight since the daily price revision was in...

Read more

  • Tesla shares sink after key executives exit
Tesla shares sink after key executives exit

Some investors were likely concerned with Musk's behavior during the Rogan podcast, which included some smoking and alcohol. "Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations ", Morton said in a statement released by Tesla .

Read more

  • Donald Trump Mocks Obama Shellacking , Demands DOJ Investigate NYT Op-Ed Writer
Donald Trump Mocks Obama Shellacking , Demands DOJ Investigate NYT Op-Ed Writer

Here are the notable important things he said during the speech, including this helpful reminder about democracy: "This is not a rock concert". "What bothers me is that if what was written was true, then there is a cabal in the White House that's working against the president ", said Paterson, who also served as the New York Democratic Party's c...

Read more

  • Bitcoin Falls After Goldman Reportedly Drops Crypto Trading Plans
Bitcoin Falls After Goldman Reportedly Drops Crypto Trading Plans

Last year when Bitcoin dominance was over 50%, conditions of the market were different compare to what is obtained this year. Still, Edward Morra, a widely recognized technical analyst in the crypto community, has said that Bitcoin and the rest of the market are still on a clear downtrend.

Read more

  • Elon Musk apparently smoked marijuana in live podcast; Tesla stock down
Elon Musk apparently smoked marijuana in live podcast; Tesla stock down

But that's not it. The hiring of the accounting chief, Dave Morton , had been announced days before Musk abruptly took to Twitter last month and declared that he was planning to take Tesla private and had "funding secured". "Especially auto companies", Musk said. Morton and Toledano, whose departures come shortly after the U.S. Securitie...

Read more

  • China's exports, imports slowed sharply in August
China's exports, imports slowed sharply in August

Earlier speculation was that those tariffs , proposed in July, would take effect in early October, though trade associations have been gearing up for the announcement to come as early as the end of this week. "Our concern with these tariffs is that the USA will be hardest hit, and that will result in lower United States growth and competitiveness ...

Read more

  • Alibaba co-founder Jack Ma to retire
Alibaba co-founder Jack Ma to retire

Ma will provide transition plans over a significant period of time , the spokesman was quoted as saying, adding that the succession strategy is part of a management plan 10 years in the making. The co-founder of $420the billion internet company, Jack Ma, has announced that he will be retiring from Alibaba on Monday. He started Alibaba from his f...

Read more

  • British Airways probes customer data theft, says 380,000 transaction details compromised
British Airways probes customer data theft, says 380,000 transaction details compromised

British Airways said on Thursday that it was investigating a theft of customer data from its website and from its mobile application. Chief executive Alex Cruz says the company is "100% committed" to compensating customers who have had financial information stolen.

Read more