Finance

Macron Halts Fuel Tax Hike In Bid To Curb Riots

Macron Halts Fuel Tax Hike In Bid To Curb Riots The protests began on Nov 17 in opposition to rising fuel taxes, but they have ballooned into a broad challenge to Macron's pro-business agenda and complaints that he is out of touch with the struggles of ordinary people. "What we are asking of you, Mr". About 2 million transport workers, from urban transit drivers to high-speed train engineers, brought the country to a halt over Prime Ministe... [Full Article...]

Oil prices skid amid global stock market slump, swelling U.S. supply

Oil prices skid amid global stock market slump, swelling U.S. supply The two major players in the production cut talks, Saudi Arabia and Russian Federation, seem to be on board with a production cut, but the volume of cuts has yet to be determined, and it is also uncertain if they will go it alone should others refuse. [Full Article...]

Alberta Production Cuts Send Canadian Crude Soaring

Alberta Production Cuts Send Canadian Crude Soaring In fact, the price differential between Canadian oil and the USA benchmark oil hit a record high of $50 per month last month. About 25 Alberta producers are expected to be impacted by the cuts until the 35 million barrels of oil now in storage are shipped out of the province. [Full Article...]

Huawei CFO arrested, faces extradition to U.S.

Huawei CFO arrested, faces extradition to U.S. McLeod says as there is a publication ban in effect and he could not provide any further details. Meng is the deputy chair of Huawei's board and is the daughter of company founder Zhengfei Ren, from his first marriage. Meng was arrested while transferring flights in Canada. "The company believes the Canadian and US legal system will ultimately reach a just conclusion". [Full Article...]

Contrasting Chinese, US statements on trade war agreement

Contrasting Chinese, US statements on trade war agreement Trump also said in a tweet on Saturday that China had agreed "to reduce and remove tariffs on cars coming into China from the U.S". China was already hit with $50 billion worth of tariffs earlier this year. China's Foreign Ministry, the only government department that holds a daily briefing foreign media can attend, has repeatedly referred questions on details to the Commerce Ministry, whi... [Full Article...]

Qualcomm stops bid for rival NXP

Qualcomm stops bid for rival NXP USA chipmaker Qualcomm Inc. has ruled out any possibility of a renewed bid for rival NXP Semiconductors after President Xi reopened the doors for a new bid during his meeting with President Trump over the weekend. Xilinx is now vying to acquire Israeli chip maker Mellanox Technologies after it made a decision to run an auction to sell itself, according to people familiar with the matter. [Full Article...]

100m Quora users’ data stolen by hackers

100m Quora users’ data stolen by hackers Quora said it's in the process of notifying all users who it believes were impacted by the hack. The affected data includes account details such as names, email addresses and encrypted passwords , as well as any data imported from linked networks when authorised by the user. [Full Article...]

Trump's new NAFTA faces uphill battle in Congress

Trump's new NAFTA faces uphill battle in Congress Meanwhile, a number of lawmakers and business groups are trying to push for the removal of US tariffs on steel and aluminum imports from Canada and Mexico, which have inflicted harm upon American manufacturers and consumers, raising costs for a wide array of industries. [Full Article...]

Trump administration to Examine tools to Increase US tariffs on Chinese Autos

Trump administration to Examine tools to Increase US tariffs on Chinese Autos Trump spokeswoman Sarah Sanders indicated that an informal meeting may yet happen. Beijing "ought to" take Trump seriously, as "the policies are not going away", Kudlow added. It exports growth since the start of the year has already been sluggish. "And we'll see", Trump said. The heads of the world's two largest economies are set to meet on the sidelines of the G-20 summit in Argentina, where w... [Full Article...]

Amazon Tests Its Cashierless Technology for Bigger Stores

Amazon Tests Its Cashierless Technology for Bigger Stores Amazon now has more than a half-dozen Amazon Go stores open or set to open in three cities - Seattle, Chicago and San Francisco - but they are much smaller than traditional grocery stores. That could carry implications for Whole Foods workers, who have already complained that after Amazon's acquisition of the grocery store they were expected to act like " robots ". [Full Article...]

Fed chairman says U.S. economy healthy, hints at slower rate hikes

Fed chairman says U.S. economy healthy, hints at slower rate hikes The upcoming interest rate decision-which will come December 19- will serve as a big signal for both the Fed's conviction for continued economic growth as well as the equity market's resilience to yet another hike. The MSCI Emerging Markets Index rose 1.4 percent. Elsewhere, the pound held gains after reversing losses sparked by the Bank of England's warning that a no-deal Brexit could spark a r... [Full Article...]

Alberta to reduce oil production in 2019 to increase prices

The surplus is filling storage up quickly. The amount being cut is more than the total production of each of OPEC's three smallest members: Equatorial Guinea, Gabon and the Republic of Congo. Further reductions in the curtailment are expected in the fall and winter as additional rail capacity comes online. "If we are going to solve this problem once and for all, the low price era must end". [Full Article...]

The nation honors George H.W. Bush

CNN caught up with him quickly as he walked through the airport. King is referring to a 1992 town hall-style presidential debate involving then-President Bush, a young Arkansas governor named Bill Clinton and billionaire businessman Ross Perot. [Full Article...]

Oil Prices Rise After Russia, Saudi Arabia Deal

Oil Prices Rise After Russia, Saudi Arabia Deal President Vladimir Putin said that Russian Federation and OPEC biggest producer, Saudi Arabia had agreed to renew a pact on oil production cuts, as crude prices slump on global markets. France's President Emmanuel Macron, who has faced intense protests against growing gasoline prices in his country, also called for cheaper oil at the G-20 summit. [Full Article...]

Qatar to quit global oil body Opec

Qatar to quit global oil body Opec He added that OPEC was told of the decision on Monday ahead of the announcement. OPEC is dominated by oil-rich Saudi, which along with its allies has had no ties with Qatar since June 2017. Now Qatar will be able to produce at whatever level it wants, she said, "but I wouldn't see it as a threat to Opec's efforts to cut their production because [Qatar] is not capable on its own of flooding the m... [Full Article...]

Wall Street rallies as Fed sees interest rate 'just below' neutral

Wall Street rallies as Fed sees interest rate 'just below' neutral A mistake in communication may have made investors think the Federal Reserve is adopting a looser monetary policy, following a speech by chair Jerome Powell on November 28. Instead he highlighted a new financial stability report the Fed published earlier on Wednesday. "We will be paying very close attention to what incoming economic and financial data are telling us". [Full Article...]

Microsoft dethrones Apple as the most valuable United States company

Microsoft dethrones Apple as the most valuable United States company Apple's market capitalization is now roughly $829 billion, while Microsoft closed with a valuation of about $817 billion. Instead, it's likely that Apple's recent struggles with low demand for its latest iPhones are what caused the company's stock - and thus, its market cap - to slide. [Full Article...]

MBS welcomed at G-20; Trump under fire

Plans under consideration to tighten State Department vetting on visas emerged as President Trump prepared to meet President Xi at the G20 summit to resolve their differences over trade. The two leaders made headlines nonetheless through a hearty handshake ahead of the G20's family photo event. Putin jetted into Buenos Aires Friday morning, and the Kremlin said it "regrets" Trump's decisio... [Full Article...]

Trump again slams GM, says new auto tariffs are "being studied"

Trump again slams GM, says new auto tariffs are Trump noted on Twitter that brisk US small truck sales in the country are due to a 25-percent tariff on small truck imports. Separately, US trade representative Robert Lighthizer said he was examining options to raise US tariffs on Chinese vehicles to 40% - the level Beijing charges on US-made cars. [Full Article...]

Trump claims win as US, Mexico, Canada sign new trade deal

Trump claims win as US, Mexico, Canada sign new trade deal Trudeau made a personal plea to Trump during the ceremony to get rid of the tariffs, saying the recent closures of auto plants by General Motors in the United States and Canada made it more important. The United States-Mexico-Canada Agreement (USMCA) opens 3.6 per cent of Canada's dairy market to tariff-free imports and limits Canada's global dairy exports of skim-milk powder, baby formula and m... [Full Article...]


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