Finance

Fed Raises Interest Rates for Third Time in 2018, Upgrades Economic Outlook

Fed Raises Interest Rates for Third Time in 2018, Upgrades Economic Outlook U.S. interest rates remain relatively low, reflecting the Fed's decision to lower them dramatically amid the 2007-2009 financial crisis in an effort to encourage borrowing and boost economic activity. If the Fed had left in the reference to accommodative, it would have been a strong sign about more future hikes in order to get to neutral. Many analysts think the economy could weaken next year, i... [Full Article...]

PM defends negotiators after Trump slams Canada

The back and forth about the supposed meeting comes amid the US and Canada's acrimonious renegotiation of the North American Free Trade Agreement , or NAFTA, and follows months of souring relations between the two North American neighbors. [Full Article...]

Fox plans to sell stake in Sky to Comcast for $15B

Fox plans to sell stake in Sky to Comcast for $15B It ends speculation around what Disney and Fox bosses Bob Iger and Rupert Murdoch were going to do with the 39 per cent stake after losing the dramatic auction for Sky at the weekend. Fox's Sky stake is now worth more than double what it was before Murdoch's latest takeover effort. The deal will put around £11.6bn into Disney's pocket, which will likely go towards reducing the large amount of ... [Full Article...]

Connect The Dots: Trump Praises India As It Cuts Iran Oil Import

Connect The Dots: Trump Praises India As It Cuts Iran Oil Import Speaking at the UN General Assembly on Tuesday, Trump accused OPEC of " ripping off the rest of the world " by pushing for higher oil prices. He called on other nations not to rely on OPEC, lamenting the dependence Germany has on Russian Federation. [Full Article...]

The Fed raises interest rates by a quarter percentage point

The Fed raises interest rates by a quarter percentage point I'm not happy about that", Trump told a press conference on the sidelines of the United Nations General Assembly in NY. If the Fed finds that prospect likely, it might signal Wednesday that it expects to slow its rate increases next year. A CNBC survey found that 98% of respondents expected the Fed to hike rates this month, while 96% predict another quarter-point hike in December. That would put t... [Full Article...]

Trump says he rejected meeting with Justin Trudeau

Trump says he rejected meeting with Justin Trudeau We don't like their representative very much", Trump said in an apparent reference to the Canadian foreign minister, Chrystia Freeland. The spokesperson declined further comment on Trump's news conference. A day earlier, Lighthizer himself also said many contentious issues remain, but suggested the problem lay with the Canadian side. "And frankly we're thinking about just taxing cars coming in f... [Full Article...]

NAFTA deal ‘meaningless’ without protection from Trump auto tariffs, Canadian ambassador says

In recent days, officials have issued a series of increasingly pessimistic assessments of the chances of including Canada in the trade deal with Mexico , which was finalized last month. Canadian Prime Minister Justin Trudeau on Wednesday shrugged off US pressure to quickly agree to a deal on NAFTA and indicated it was possible the three member nations might fail to conclude a new pact. [Full Article...]

Uncertainty Over Lost Production from Iran Sanctions Still Driving Upside Momentum

Uncertainty Over Lost Production from Iran Sanctions Still Driving Upside Momentum Oil prices jumped more than 2 percent, hitting a four-year high, after the Organization of Petroleum Exporting Countries ( OPEC ) and other global producers declined to announce an immediate increase in production. "Undoubtedly the oil market is expected to be tight in coming months and, if OPEC's own numbers are to be believed, global oil inventories are to fall during the remainder of the year... [Full Article...]

Israel hardliners back Trump following anti-Iran UN speech

In a speech at the United Nations, Trump ratcheted up pressure on OPEC nations with a threat to demand payment for USA military protection after they ignored his call last week to reduce prices. Speaking at the UN General Assembly on Tuesday, Trump accused OPEC of " ripping off the rest of the world " by pushing for higher oil prices. "We want them to start lowering prices". [Full Article...]

Versace sold to Michael Kors in $2.1 billion deal

Versace sold to Michael Kors in $2.1 billion deal The deal Tuesday comes just 14 months after the NY handbag maker spent $1.35 billion (CAD$1.75 billion) adding to its portfolio Jimmy Choo, the shoemaker that that rocketed to fame on the high heels of " Sex and the City ". Michael Kors (KORS) stock is now selling for about $66.43 per share. The deal could also mean that those iconic $2,000-a-pop Versace gold-colored jackets once worn only ... [Full Article...]

Cabinet rallies around May on Chequers plan for Brexit

Cabinet rallies around May on Chequers plan for Brexit The Prime Minister insisted if her Chequers plan gets through Parliament, it will still allow Britain to have a good trade deal with the U.S. and other countries even if it shares a common rule book on regulations of goods with the EU. European Union leaders have argued that Mrs May's Chequers plan would risk undermining the integrity of the single market. With the Conservative Party conferenc... [Full Article...]

United Nations audience laughs as Donald Trump brags about administration's accomplishments

United Nations audience laughs as Donald Trump brags about administration's accomplishments He spoke after Brazilian President Michel Temer . He recovered quickly and joked: "I wasn't expecting that reaction but that's OK" - prompting a round of applause from the chamber. In regard to Iran , the president called on world leaders to join the U.S.in isolating and sanctioning Tehran until the Islamic republic stops spreading terrorism and working to build a nuclear arsenal. [Full Article...]

Strawberry sabotage crisis spreads to New Zealand

Strawberry sabotage crisis spreads to New Zealand The Choice brand of strawberries was sold nationwide last week. There have been more than 100 reports of needles found in strawberries and other fruit across Australia. Australian strawberries are exported to NZ from April to September and local strawberries began appearing on shelves this week in their place. New Zealand's Primary Industries Minister Damien O'Connor on Monday said it was... [Full Article...]

Instagram founders leave Facebook after clashing with Zuckerberg

Instagram founders leave Facebook after clashing with Zuckerberg Facebook boss Mark Zuckerberg said: "Kevin and Mike are extraordinary product leaders and Instagram reflects their combined creative talents". Systrom did not say when he and Krieger would leave Facebook, but The New York Times reported earlier on Monday that the duo would leave in the coming weeks. [Full Article...]

Canada's Barrick Gold to buy Randgold Resources in $18.3 bln deal

Canada's Barrick Gold to buy Randgold Resources in $18.3 bln deal Mr. Gill sold off his holdings in Barrick Gold a year ago and said he had been looking at possibly getting back into the stock in recent weeks but the deal with Randgold has given him pause. As executives at both companies extolled the virtues of the deal to investors on Monday, investors and analysts also raised concerns about Toronto-based Barrick doubling down in the very region in which ... [Full Article...]

The China-US Trade War Might Go Beyond Tariffs Soon

The China-US Trade War Might Go Beyond Tariffs Soon But the blast from Beijing came as US political news website Axios reported that the White House was preparing to go further, and would launch an "administration wide" broadside against China spearheaded by US National Security Council officials. [Full Article...]

SiriusXM purchases Pandora for $3.5 billion

SiriusXM purchases Pandora for $3.5 billion But a buyout by SiriusXM , which made a $480-million USA investment in Pandora in June 2017, maybe the boost the business needs. Pandora claims more than 70 million monthly active users. "We view the read through to Spotify as slightly negative as it could face a stronger competitor in the USA while at the same time one of the only large swaths of ad-supported listeners in the fast-maturing... [Full Article...]

Ripple rallies on optimism the cryptocurrency finds a home

Ripple rallies on optimism the cryptocurrency finds a home Ripple might be the third biggest cryptocurrency based on market capitalization but it has been struggling quite a bit lately. But even then, the success was short-lived. At the end of June, the XRP price was roughly $0.54. Can XRP Push Bitcoin Out of First Place? However, it seems XRP ran out of momentum but ETH didn't, as Ether is now at a market cap of $24,792,894,213 ($242.82 +15.07%) w... [Full Article...]

Is Michael Kors buying Versace for $2bn?

Is Michael Kors buying Versace for $2bn? Then previous year, the brand made its first acquisition beyond its namesake, by snapping up high-end shoe brand Jimmy Choo for $1.2 billion. The deal comes as budding luxury conglomerates, including Michael Kors' U.S. However according to Neil Saunders, managing director of consultancy GlobalData Retail, both Versace and the Michael Kors brand still have issues to address to improve their... [Full Article...]

Oil spikes on tightening market, OPEC snubs Trump's demand for lower prices

Oil spikes on tightening market, OPEC snubs Trump's demand for lower prices The bank said it expects Brent and WTI to average US$85 and US$76 per barrel, respectively, over the next six months. "It's going to be significantly less than it was, and probably lower than most people expected when the sanctions were announced - hence the higher prices", Luckock said at the APPEC event. [Full Article...]


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