Finance

India Targets Saudi Investment in Building Strategic Oil Reserve

India Targets Saudi Investment in Building Strategic Oil Reserve The story that has been underpinning prices is the OPEC-led supply cuts that have been trimming about 1.2 million barrels per day since January 1. Last year, Riyadh agreed with OPEC and its partners, including Russian Federation, to cap production at 10.31 million barrels a day. [Full Article...]

Elizabeth Warren also promises to dissolve Apple

Elizabeth Warren also promises to dissolve Apple Andy Stone, a Facebook spokesman, said the ads were removed "because they violated our policies against use of our corporate logo". The three ads in question featured an "f" in a text bubble, along with symbols referring to Amazon and Google . [Full Article...]

Trump budget calls for return to 'fiscal sanity'

Trump budget calls for return to 'fiscal sanity' She warned the debt load will lead to slower income growth and stalled opportunities for Americans. The proposal is significant, both for how it started the politically bloody spending fight ahead (including funding for the border wall), and for its use of classic budget stunts. [Full Article...]

Elon Musk's late-night announcement to raise prices and reopen some stores

Elon Musk's late-night announcement to raise prices and reopen some stores Tesla just took to its official blog to announce that it would not be closing as many stores as it had initially planned and would be raising prices 3% on select configurations of the Model 3 , S, and X, effective March 18th. Tesla cut the prices in response to falling tax incentives for its cars , after the company reached the cap on the credits last summer. Tesla said it has closed aro... [Full Article...]

Brexit talks deadlocked ahead of key Parliament vote

Brexit talks deadlocked ahead of key Parliament vote The UK has been seeking changes to the Irish backstop, an insurance policy created to maintain an open border on the island of Ireland between UK territory Northern Ireland and European Union member-state - the Republic of Ireland. However three Cabinet ministers - Amber Rudd, Greg Clark and David Gauke - have already made clear they would vote to take no-deal off the table. May's government... [Full Article...]

Newark Runways Temporarily Closed From Possible Aircraft Fire

Newark Runways Temporarily Closed From Possible Aircraft Fire Steve Coleman , a spokesman for the Port Authority of NY and New Jersey, told CNN that the pilot of the Air Transat flight requested an emergency landing at 8:20 a.m., saying there was smoke in the aircraft. They were able to successfully stop, activate their evacuation slides and escape from the plane. No fire was found and the cause of the smoke remains under investigation, said Steve Colema... [Full Article...]

NVIDIA rumored to acquire Mellanox for $7 billion

NVIDIA rumored to acquire Mellanox for $7 billion Imagine the possibility of combining NVLink - Nvidia's high-speed protocol for intra-GPU communication - with Mellanox's networking and server products. The game plan for Nvidia is to use Mellanox to optimize data center workloads across compute, networking and storage. Nvidia has invested heavily in its datacentre and AI technologies over the years and acquiring Mellanox will be an extension of... [Full Article...]

Tesla faces stiff competition as Porsche plans to boost Taycan production

Tesla faces stiff competition as Porsche plans to boost Taycan production Porsche is parent Volkswagen's most profitable brand and its success is vital for the group to pull off the industry's most aggressive push into electric vehicles. That could include the loan of a different vehicle. In 2018, Porsche's head of electric vehicles, Stefan Weckbach, said the Taycan will be able to sustain its performance better than the Model S. [Full Article...]

Lottery victor grateful after Good Samaritan returns £200 million winning ticket

Lottery victor grateful after Good Samaritan returns £200 million winning ticket The 54-year-old says he's going to "sit back and enjoy" the money. "I truly wish him well ... though I know he doesn't believe that", she said, according to the Post. "I'm just very thankful that there's an honest person out there, because I figured it was gone", he said. He said he plans to buy a Ford Raptor pickup truck and relishes the feeling of being able to go and buy whatever he wants. [Full Article...]

Tesla to raise prices, backtracks on closing most stores

Tesla to raise prices, backtracks on closing most stores Tesla will raise the price of its vehicles after going back on a recent decision to close most of its stores. In statement, the company said that 10 percent of sales locations were closed in areas where they didn't invite the natural foot traffic they were designed for. [Full Article...]

Canada's monthly job growth exceeds U.S., stifles rate cut calls

Canada's monthly job growth exceeds U.S., stifles rate cut calls The lowest rate was in the Saint John and St. Stephen region, at 6.8 per cent, up from 6.2 past year. The jobless rate was unchanged at 5.8 percent as more people joined the labor market. "Our investments in infrastructure and services will generate tens of thousands of good jobs". In particular, the central bank focuses on a reading called "wage common", which incorporates payroll data from sever... [Full Article...]

Tesla enters into agreement with Chinese lenders for Gigafactory

Tesla enters into agreement with Chinese lenders for Gigafactory The electric vehicle maker disclosed that it has signed a syndicated loan agreement with local branches of banks including China Construction Bank, Agricultural Bank of China, Industrial and Commercial Bank of China, and Shanghai Pudong Development Bank. [Full Article...]

Unemployment rate drops to 3.8% as 20000 jobs added in February

Unemployment rate drops to 3.8% as 20000 jobs added in February USA employment has now risen for 100 consecutive months, the longest jobs-expansion streak on record. "You average the couple months together, and the jobs market is still doing well. CT had 0.6 percent job growth in 2018, up from 0.1 percent in 2017 and 0.2 percent in 2016, Gioia said. Others haven't worked much before and aren't always used to showing up on time regularly. [Full Article...]

Norway moves to sell some oil and gas shares from wealth fund

Norway moves to sell some oil and gas shares from wealth fund In Norway, the biggest hydrocarbon producer in western Europe, oil and gas represent nearly half of exports and 20 per cent of the state's revenues. The move, which will need ratification from Parliament, appears to mark at least a temporary end of a debate that began in late 2017 when the fund's manager, Yngve Slyngstad, recommended exiting oil stocks to hedge against "the vulnerability of go... [Full Article...]

Dozens injured on flight due to severe turbulence

Dozens injured on flight due to severe turbulence Then seeing blood all over. Both crew members and passengers were among those hurt, Port Authority spokesman Steve Coleman said. One had a broken leg. Earlier in the day, a plane operated by Canada's Air Transat made an emergency landing at another NY area airport - in Newark, New Jersey - after smoke was detected in the cargo hold, the company said. [Full Article...]

European Central Bank Cuts Europe’s Growth Forecast; Announces More Stimulus

European Central Bank Cuts Europe’s Growth Forecast; Announces More Stimulus The European Central Bank presented a whopping set of monetary policy initiatives Thursday that sent economists and analysts on Twitter into a tailspin. Investors will be scouring United States payrolls data for February due out later in the day, with analysts uncertain how much payback there might be for January's outsized jump. [Full Article...]

Massive Power Outage Causes Problems For Many in Venezuela

Massive Power Outage Causes Problems For Many in Venezuela Sabotage is burning food and medicine. The country's electric energy minister, for his part, said that "deliberate sabotage" on behalf of the US-backed opposition was the reason. Many did not realize the workday was suspended because they could not watch television or listen to the news. In the upscale Caracas neighbourhood of Los Palos Grandes, several hundred people gathered for a rally where ... [Full Article...]

Airbnb to Buy HotelTonight to Expand Platform

Airbnb to Buy HotelTonight to Expand Platform San Francisco-based HotelTonight has raised over $126 million from investors such as Accel, most recently closing a $37 million round in early 2017 at an estimated valuation of $463 million. Airbnb said it more than doubled the number of listings on its site for boutique hotel rooms, bed and breakfasts, hostels and resorts in 2018. While HotelTonight sounds like the name of a nightly poli... [Full Article...]

Zuckerberg Promises Self-Deleting Facebook Messages For More Privacy

Zuckerberg Promises Self-Deleting Facebook Messages For More Privacy This is something that has been sorely lacking from the platform as now constituted. Zuckerberg also pointed to the success of private messaging, disappearing content and small group chats, saying these are "by far the fastest growing areas of online communication". [Full Article...]

NewsAlert: PM acknowledges 'erosion of trust' between office and former minister

NewsAlert: PM acknowledges 'erosion of trust' between office and former minister She resigned nearly a month after former attorney general Jody Wilson-Raybould resigned from federal cabinet . But if Wilson-Raybould and the Director of Public Prosecutions had arrived at their final conclusion, the only objective outside advice could serve would be to have their decision reversed. [Full Article...]


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