Finance

Trump says Fed 'out of control' but won't fire Powell

Trump says Fed 'out of control' but won't fire Powell Higher interest rates likewise make bonds more attractive than riskier equities, and the 10-year Treasury bond yield has jumped above three percent this week. ones would offer better rate of return. The benchmark Nikkei 225, the Hang Seng in Hong Kong and the Shanghai Composite all plummeted more than 3% in early morning trade, as investors fretted about surging interest rates and an ongoing tra... [Full Article...]

IMF Downgrades Global Economy

IMF Downgrades Global Economy The IMF had earlier estimated that escalating tit-for-tat tariffs could lower global output by more than 0.8 per cent by 2020. "Growth has proven to be less balanced than we had hoped". Federal Reserve. She said this was necessary "because if services are not sufficiently covered, if digital transformation is not sufficiently covered in the current trade framework, then we are missing the point,... [Full Article...]

European Union makes direct appeal to Northern Irish firms on Brexit backstop

European Union makes direct appeal to Northern Irish firms on Brexit backstop It comes as the deadline looms for a deal between London and Brussels. Among those due to attend today's War Cabinet are: the Prime Minister's effective deputy David Lidington; Jeremy Hunt, the Foreign Secretary; Sajid Javid, the Home Secretary; Liam Fox, the International Trade Secretary; Greg Clark, the Business Secretary; Michael Gove, the Environment Secretary, and Gavin Williamson, the ... [Full Article...]

United States stocks tumble for a second day

United States stocks tumble for a second day The S&P 500 index fell 12 points, or 0.4 percent, to 2,772. Should the S&P close lower today, it will be the sixth consecutive time, something that hasn't happened since before Donald Trump's election. As of October 10, it's lasted 3,503 days. All of those factors could threaten the impressive profits Corporate America has been reporting this year. [Full Article...]

Trump says market drop is 'correction that we've been waiting for'

Trump says market drop is 'correction that we've been waiting for' The Dow Jones dropped by more than 800 points on Wednesday in one of the worst days for the stock market since February, and President Donald Trump had an explanation ready when asked by reporters. In July, the president complained about the Federal Reserve raising interest rates. "I'm not thrilled because we go up", he explained, "and every time we go up they want to raise rates again, and I ... [Full Article...]

Humans, environment matter more than growth: Economics Nobel winners work

Humans, environment matter more than growth: Economics Nobel winners work The metric is increasingly used when implementing climate change policies. Carbon dioxide, which is emitted when fossil fuels are burned, is a heat-trapping "greenhouse gas" blamed for global warming, and a tax would make polluters pay for the costs imposed on society. [Full Article...]

Trump Says Fed Moving Too Fast With Interest-Rate Increases

Trump Says Fed Moving Too Fast With Interest-Rate Increases Ahead of a campaign rally for the U.S. mid-term elections next month, Trump told reporters: "I think the Fed is making a mistake". A stock market correction is defined as a decline of at least 10% from the high point of the past 52 weeks, suggesting that major USA indices have further to fall. [Full Article...]

Trump says he's spoken with Saudis at 'highest level' over Khashoggi

Trump says he's spoken with Saudis at 'highest level' over Khashoggi Reporters Without Borders said in a statement that between 25 and 30 professional and non-professional journalists are now detained in Saudi Arabia . News channel 24 aired the video Wednesday, suggesting that Khashoggi was inside of the black Mercedes Vito. There are also reports that Turkish intelligence is in possession of a video showing Khashoggi's murder . [Full Article...]

IMF, Pakistani officials to meet today as govt seeks bailout

IMF, Pakistani officials to meet today as govt seeks bailout The IMF said in an update to its World Economic Outlook it was now predicting 3.7% global growth in both 2018 and 2019, down from its July forecast of 3.9% growth for both years. "All the accusations against China are completely trumped up..." It said that would include boosting foreign currency reserves to be used in a crisis as well as working with local bond markets to build a domestic inve... [Full Article...]

Sears Could File for Bankruptcy As Soon As This Weekend

Sears Could File for Bankruptcy As Soon As This Weekend The company has hired advisory firm M-III Partners LLC to prepare the bankruptcy filing, although the retailer is continuing to consider other options to avoid insolvency, the report said. CNBC earlier reported that the company was arranging a bankruptcy loan, known as debtor-in-possession financing. But the retail landscape is littered with out-of-business brands that tried to reorganize in the... [Full Article...]

Wall Street dives, setting the ASX up for heavy losses at open

In theory, banks should do better if the Fed keeps raising interest rates and bond yields climb higher since it will make their loans more profitable. It's not just tech though, as all the FAANGs get walloped despite being in three different sectors now . Think of it this way, if the Treasury issues a $1000 bond paying 3 percent interest, investors will not pay $1000 for an older bond paying 2 pe... [Full Article...]

Exclusive Google Pixel 3 deal

Exclusive Google Pixel 3 deal In our hands-on preview of the new Pixel 3 and Pixel 3 XL smartphones , we covered numerous new features Google announced on stage during its big press event. The fronts of the phones now have two separate cameras: an 8MP 28mm f/1.8 (35mm equiv.) standard one and an 8MP 19mm f/2.2 (35mm equiv.) wide-angle one. [Full Article...]

‘Hit squad’ left Turkey with Saudi consulate CCTV footage

‘Hit squad’ left Turkey with Saudi consulate CCTV footage The administration has expressed concern but has refused to even to entertain questions about what the consequences would be if allegations turn out to be true - that the 59-year-old journalist was killed inside the Saudi consulate in Istanbul after entering it on October 2 to get routine paperwork for his marriage while his Turkish fiancee waited outside. [Full Article...]

China-US trade war: Beijing moves to cushion economy

China-US trade war: Beijing moves to cushion economy The main driver, however, appears to be a failure from markets to believe that fresh stimulus from China's central bank , the People's Bank of China, will help prevent US President Trump's trade war from causing an economic slowdown in China. [Full Article...]

International Monetary Fund cuts global economic growth target to 3.7%

International Monetary Fund cuts global economic growth target to 3.7% In this worst case scenario, the USA economy would take a significant hit, while economic growth in China would drop below 5% in 2019, compared with a current prediction of 6.2%. The IMF said the balance of risks was now tilted to the downside, with a higher likelihood that financial conditions will tighten further as interest rates normalize, hurting emerging markets further at a time when US -le... [Full Article...]

Pakistan to seek International Monetary Fund loan to avert meltdown

Pakistan to seek International Monetary Fund loan to avert meltdown While the IMF's outlook for the Chinese economy stayed at 6.6% this year, its forecast for next year of 6.2% represents the slowest growth rate the Asian country has seen since 1990. Trade tensions are expected to continue although Fund officials view US-Mexico-Canada trade agreement as a positive sign. "Where we are now is we've gotten some bad news". [Full Article...]

UK cyber security agency backs Apple, Amazon China hack denials

UK cyber security agency backs Apple, Amazon China hack denials When the story broke last week, though, the U.S. intelligence agencies were quiet, but the Department of Homeland Security stepped in over the weekend to say that although the agency is aware of Bloomberg's report, it has "no reason to doubt" the statements made by the two companies. [Full Article...]

India to continue buying Iranian crude despite U.S. sanctions threat

India to continue buying Iranian crude despite U.S. sanctions threat Buyers of the superlight crude are under more pressure than importers of "regular" crude since there are few alternate suppliers. White House National Security Adviser John Bolton said on Thursday that the administration's goal was that there be no waivers and "exports of Iranian oil and gas and condensates drops to zero". [Full Article...]

Two Indian companies to buy Iranian oil in November: Oil minister

Two Indian companies to buy Iranian oil in November: Oil minister The US benchmark West Texas Intermediate fell 54 cents, or 0.73 percent, to United States dollars 73.80, while Brent, the global benchmark, was down 80 cents, or 0.95 percent, to USD 83.36 a barrel. Novak was not alone in predicting a return to three-digit price levels last seen in 2014. Saudi Arabia at present produces 10.7 million barrels per day. [Full Article...]

Likely RBI intervention helps rupee recover from record low

Likely RBI intervention helps rupee recover from record low The rupee touched a life-time low of 73.41 against the U.S. dollar as crude prices jumped above $85 per barrel on expectations of tighter supply once the USA sanctions start targeting Iran's petroleum industry from next month. The resolution said actual inflation outcomes have been "below projections" as the expected seasonal increase in food prices did not materialise and inflation, excluding f... [Full Article...]


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