US President Trump calls the US Fed 'crazy', stock declines a 'correction'

Hassett pointed to the six nominees Trump has made so far to serve on the Fed's board of governors, all of whom have spent extensive time in finance, banking or academia. One former Treasury official said while Trump's comments are unusual, they don'... More..

by | Published more than a month ago
Sears May Be Days Away From Bankruptcy
by | Thursday, October 11, 2018

Sears May Be Days Away From Bankruptcy

Reports circulated that the company is talking to advisers and banks in preparation for a bankruptcy filing. Sears, an icon of American retailing since the 19th century, has struggled to appeal to consumers ...More..

Trump calls stock sell-off 'a correction,' says Federal Reserve is 'crazy'
by | Thursday, October 11, 2018

Trump calls stock sell-off 'a correction,' says Federal Reserve is 'crazy'

It's so tight. I think the Fed has gone insane", Trump told reporters shortly after markets closed, as he arrived in Erie, Pennsylvania for a rally. A stock market correction is defined as a fall of at least 10...More..

Pakistan requests International Monetary Fund for bailout package
by | Thursday, October 11, 2018

Pakistan requests International Monetary Fund for bailout package

After a visit last week, the International Monetary Fund said Pakistan was facing significant economic challenges, with diminishing growth, high budget and current-account deficits, and low foreign-exchange r...More..

Exiled Egyptian opposition leader expresses fear after Khashoggi disappearance
by | Thursday, October 11, 2018

Exiled Egyptian opposition leader expresses fear after Khashoggi disappearance

Saudi Arabia gave no official response to the allegation that members of its security services were on the planes. "We have seen conflicting reports on the safety and whereabouts of prominent Saudi journal...More..

Stocks have their worst day in months; Dow drops 800-plus points
by | Thursday, October 11, 2018

Stocks have their worst day in months; Dow drops 800-plus points

But there were few places to hide Wednesday. Since early 2009, the S&P 500 has quadrupled, driven higher by the US economic expansion, hefty profits for corporations and historically low interest rates, all of ...More..

Missing journalist's fiancée 'in a state of deep confusion and sadness'
by | Thursday, October 11, 2018

Missing journalist's fiancée 'in a state of deep confusion and sadness'

Secretary of State Mike Pompeo also spoke with the crown prince "to reiterate the United States request for information", Sanders said . But in his first extensive remarks about Khashoggi's case, Trump w...More..

India expected to keep buying Iranian oil despite sanctions by US
by | Wednesday, October 10, 2018

India expected to keep buying Iranian oil despite sanctions by US

International Olympic Committee and ONGC's refining subsidiary MRPL, (Mangalore Refinery and Petrochemicals Ltd) have placed an order for 1.25 million tonnes of Iranian crude. sanctions", the IMF said in the Oc...More..

Pakistan says it will seek International Monetary Fund bailout as reserves dwindle
by | Wednesday, October 10, 2018

Pakistan says it will seek International Monetary Fund bailout as reserves dwindle

The IMF, in the WEO report, said inflation pressures in sub-Saharan Africa had broadly softened, with annual inflation projected to drop to 8.6 per cent in 2018 and 8.5 per cent in 2019, from 11 per cent in 2...More..

China avoids questions about Apple, Amazon chip hack report
by | Tuesday, October 09, 2018

China avoids questions about Apple, Amazon chip hack report

According to Bloomberg , these servers wound up in the data centers of nearly 30 companies, including Apple and Amazon. Apple's press release was equally strong. In a follow-up email to Ars, Apple confir...More..

India buying Iran oil in defiance of Trump sanctions
by | Tuesday, October 09, 2018

India buying Iran oil in defiance of Trump sanctions

Pradhan said two state refineries have made nominations to purchase Iranian oil in November. Oil dropped below $83 a barrel on Monday, pressured by expectations that some Iranian oil exports will keep flowi...More..

Michael upgraded to hurricane, forecast to become major hurricane
by | Tuesday, October 09, 2018

Michael upgraded to hurricane, forecast to become major hurricane

Rick Scott says Hurricane Michael is a "monstrous storm" that has the potential to be devastating to the Florida Panhandle . A Hurricane Watch was issued for the Alabama-Florida border eastward to the S...More..

US Actively Considering Waivers on Iran Oil Sanctions
by | Monday, October 08, 2018

US Actively Considering Waivers on Iran Oil Sanctions

Reuters had reported on Friday that India would buy 9 million barrels of Iranian oil next month. Iran may indeed have not cut production yet to match the rate of decline in its exports, as the countr...More..

United States terminates treaty with Iran after UN court ruling - Ireland
by | Monday, October 08, 2018

United States terminates treaty with Iran after UN court ruling - Ireland

Hedge funds cut their bullish wagers on U.S. crude in the latest week to the lowest level in almost a year, data showed on Friday. On Wednesday, WTI crude was up 1.6 per cent at $76.41 a barrel, after touchin...More..

by | Monday, October 08, 2018

Latest Sask. job numbers show more total jobs, but higher unemployment rate

We expect average hourly earnings to rise to 3% by year-end. "Another solid jobs report; not too hot and not too cold", Kate Warne, investment strategist at Edward Jones told FOX Business . This is despite...More..

Nation's largest mattress retailer files for bankruptcy
by | Monday, October 08, 2018

Nation's largest mattress retailer files for bankruptcy

Amid declining sales, in part stemming from the success of online mattress retailers, Mattress Firm has filed for Chapter 11 bankruptcy protection . The company said in the release it will continue to operat...More..

Rupee plunges to fresh record low of 73.77 against dollar
by | Sunday, October 07, 2018

Rupee plunges to fresh record low of 73.77 against dollar

Stocks are down, the Indian rupee keeps falling to all-time lows against the USA dollar , and bond yields are rising. The BSE Sensex too plunged by 584.53 points, or 1.66 per cent, to 34,584.63 in late af...More..

Iran says oil price rise offsets USA sanctions' impact
by | Sunday, October 07, 2018

Iran says oil price rise offsets USA sanctions' impact

With crude prices soaring and many currencies in emerging markets, including India's rupee and Indonesia's rupiah declining, analysts warn that economic growth may be eroded. The contract is on course for a gai...More..

Unemployment rate falls to 49-year low
by | Sunday, October 07, 2018

Unemployment rate falls to 49-year low

Economists expected only a marginal impact on payrolls from Hurricane Florence , which lashed South and North Carolina in mid-September. With September's increase below the 0.5% gain recorded during the same...More..

USMCA: A trade deal that does no harm, but breaks no ground
by | Sunday, October 07, 2018

USMCA: A trade deal that does no harm, but breaks no ground

President Donald Trump is hailing his revamped North American trade agreement with Canada and Mexico as a breakthrough for USA workers, vowing to sign it by late November while investors breathed a sigh of ...More..

May appeals for party unity as Brexit deadline nears
by | Sunday, October 07, 2018

May appeals for party unity as Brexit deadline nears

This brings about a critique I have towards May's claim - whereas in the long run, the United Kingdom economy will be able to compensate for the initial drop in GDP, we should not disregard the short-term conse...More..

'Shortseller Enrichment Commission’? Musk mocks SEC over fraud probe
by | Saturday, October 06, 2018

'Shortseller Enrichment Commission’? Musk mocks SEC over fraud probe

Musk derided the SEC as the " Shortseller Enrichment Commission " before snidely praising it for "doing incredible work". The statement by the electric automaker's CEO alludes to "shortsellers", investors ...More..

Aston Martin valued at £4.33bn as float begins
by | Saturday, October 06, 2018

Aston Martin valued at £4.33bn as float begins

Aston Martin is floating 27.5pc of its business on the London Stock Market. Aston Martin is an exception in the Uk because not only it is poised to become the single automotive group listed on the stock Excha...More..

‘Panic reaction ahead of elections,’ says Congress after fuel price cut
by | Saturday, October 06, 2018

‘Panic reaction ahead of elections,’ says Congress after fuel price cut

A high-level meeting convened by the Prime Minister Narendra Modi has chose to reduce the Excise Duty by 1.50 Rupees. Jaitley also asked state governments to cut value added tax on fuel by a further 2.50 rupe...More..

Toyota Prius safety recall over stalling, crash risk
by | Saturday, October 06, 2018

Toyota Prius safety recall over stalling, crash risk

See the chart below. Toyota has announced a safety recall of some 807,000 Prius and Prius V cars in the USA, saying that the company needs to fix a problem that could cause the vehicles to lose power and stal...More..

by | Friday, October 05, 2018

U.S. says China wants to kick Trump out of the White House

Vice President Mike Pence left his audience stunned during a speech to the Hudson Institute Thursday morning accusing the Chinese government of an "unprecedented effort" to undermine American democracy by o...More..

Pence to address China in Hudson Institute speech
by | Friday, October 05, 2018

Pence to address China in Hudson Institute speech

A trio of Democratic senators on the Senate Intelligence Committee has written a letter to Director of National Intelligence Dan Coats requesting "additional information" about President Trump's accusation...More..

'Disappointed, but not terribly surprised:' Dairy farm concerned over Canadian trade deal
by | Friday, October 05, 2018

'Disappointed, but not terribly surprised:' Dairy farm concerned over Canadian trade deal

And fixing the US dairy market was a priority in that agreement. Sargent told CBC Kitchener-Waterloo that dairy farmers feel like the government used them as a bargaining tool in negotiations with the US, w...More..

Government Announces Relief On Fuel Prices By Reducing Excise Duty
by | Friday, October 05, 2018

Government Announces Relief On Fuel Prices By Reducing Excise Duty

Announcing the much sought-after relief, Finance Minister Arun Jaitley told a press conference that the cut will be effected through slashing of excise duty to the tune of Rs.1.50 per litre while the oil mar...More..

Rupee plunges to record low of 73.77 against U.S. dollar
by | Thursday, October 04, 2018

Rupee plunges to record low of 73.77 against U.S. dollar

Domestic markets were closed on Tuesday on account of Gandhi Jayanti. Consistent dollar demand from importers, mainly oil refiners, following higher crude oil prices, have kept the rupee under pressure. Inv...More..