Economy


ASEAN needs Code of Conduct in East Sea soon: Spokeswoman ASEAN needs Code of Conduct in East Sea soon: Spokeswoman
- August 09, 2017

The meeting of foreign ministers of the 10-member state ASEAN and Japan here over the weekend discussed critical regional issues such as situations on Korean Peninsula and South China Sea , said Japanese Foreign Ministry Deputy Press Secretary Toshihide Ando. (more...)
Jobless Rate Drops To Ten Year Low Jobless Rate Drops To Ten Year Low
- August 05, 2017

But that sector of the labor market, falling under the "leisure and hospitality" industry, has the lowest average weekly wages, according to the Labor Department. Doug Duncan, chief economist at Fannie Mae , said in a report that it would be a mistake to "nitpick" the gain in wages, adding that the steady rise over the past year "isn't too shabby". (more...)
Toyota takes stake in Mazda, links up for $1.6 billion US plant Toyota takes stake in Mazda, links up for $1.6 billion US plant
- August 05, 2017

The Toyota Mazda plant is due to begin operations by 2021. Toyota said it would not move Corolla production to its plant in Mexico, which is now under construction, but it would instead make its Tacoma model there. In addition to developing electric auto and connected vehicle technologies, Toyota and Mazda will also work together on future vehicle safety features. (more...)
Bank of England holds rates for another month Bank of England holds rates for another month
- August 04, 2017

However, despite the downgrade to its growth outlook, the rate-setting monetary policy committee (MPC) also gave a more hawkish signal that rates could rise faster than markets are now pricing. The Bank said it might raise borrowing costs a bit more than investors expect over the next three years. Policymakers agreed however to increase cheap lending for retail banks before the expiry of the Term Funding Scheme next February. (more...)
Dow has its first close above 22000 Dow has its first close above 22000
- August 03, 2017

Honkamp Krueger Financial Services Inc. boosted its position in SPDR Dow Jones Industrial Average ETF by 6.7% in the second quarter. It is up 236% since its bear market low of 6547.05, which means a $10,000 investment would be worth $33,600 now. (more...)
Teenager exits plane via emergency door and slides down wing Teenager exits plane via emergency door and slides down wing
- August 03, 2017

Copa Flight 208 had just landed at 2:30 p.m. today and was waiting to taxi to its arrival gate. He says the teenager is a US citizen and appeared to be in emotional distress during the flight. The teen was a passenger on a Boeing 737 from Panama City. According to the passengers, the boy seemed too anxious and fidgety throughout the flight. (more...)
British Gas to raise electricity prices by 12.5% British Gas to raise electricity prices by 12.5%
- August 02, 2017

The UK's largest energy supplier sparked anger after it announced the tariff hike, which will take effect on September 15, adding £76 a year to the average annual dual fuel bill . The Department for Business, Energy and Industrial Strategy (BEIS) has condemned the move, expressing "concern" that the price rise "will hit many people already on poor-value tariffs". (more...)
Elon Musk Says He Might Be Bipolar
- August 02, 2017

Energy-dense battery cells that don't break the bank are the key to the Model 3's success. Tesla's share price has surged 54 per cent since January in anticipation of the Model 3 launch, and Tesla's pricey valuation now exceeds that of traditional rivals like General Motors Co and Ford Motor Co. (more...)
Charter, Sprint and HSBC — CORPORATE REPORT Charter, Sprint and HSBC — CORPORATE REPORT
- August 01, 2017

Sprint reported a $206 million net profit for the April-June quarter Tuesday, marking its first quarter in the black in three years. Sprint added 88,000 net postpaid (contract) subscribers in the first quarter, compared to net additions totaling 173,000 in the prior year quarter. (more...)
Profit and Buyback Show HSBC Progressing Profit and Buyback Show HSBC Progressing
- August 01, 2017

HSBC said it had seen a seven per cent increase in revenue from transaction banking products, although overall revenue of $26.2bn was 11 per cent lower "primarily due to currency translation differences, the absence of fair value movements on our own debt and revenue from the operations in Brazil that we sold". (more...)
Sensex ends at record high of 32575; auto stocks vroom Sensex ends at record high of 32575; auto stocks vroom
- August 01, 2017

Shares of Tech Mahindra rose as much as 7.3 per cent before settling 4.12 per cent higher, a day after the company reported a better-than-expected rise in quarterly profit, helped by new clients for its digital services business. The Nikkei India Manufacturing Purchasing Managers' Index (PMI) stood at 47.9 in July, down from 50.9 in June, its lowest mark since February 2009. (more...)
Russian Federation tells U.S. to cut number of diplomats in retaliation Russian Federation tells U.S. to cut number of diplomats in retaliation
- August 01, 2017

Russia will give a "mirror response" should the United States introduce new unilateral measures to cut the numbers of Russian diplomats in the country. Russian officials also slammed the U.S. sanctions, saying they are motivated by "absolutely imaginary allegations of Russian involvement in their internal matters". (more...)
Forecast: Beautiful start to the week; temps in the mid-80s Forecast: Beautiful start to the week; temps in the mid-80s
- August 01, 2017

Temps will creep into the upper 80s along with a muggier feel, so it'll seem a bit more like summer. Another pleasant evening is on the way with comfortable temperatures and humidity. Highs on Monday will reach the upper 80s. Our best chance for storms will Thursday through Saturday as cold front will slow down and stall to our west. (more...)
Starbucks to shut down Teavana chain
- July 29, 2017

Teavana stores have "been persistently underperforming", the Seattle-based coffee chain said in a news release . But in April, the company said it was reviewing options for the chain. It cut its profit forecast for the year for the second time. Starbucks had net income of $2.8 billion on revenue of $21.3 billion in 2016. Starbucks said earlier on Thursday that it plans to make another major investment in China. (more...)
Herzing is Ready to Meet Foxconn Job Needs Herzing is Ready to Meet Foxconn Job Needs
- July 29, 2017

Indiana, North Carolina, Ohio, Texas, Pennsylvania and NY were also in the running. Foxconn said in a release the announcement was just the first of several investments the company will be making in the U.S. Foxconn will locate its plant in the congressional district of U.S. House Speaker Paul Ryan although the official declined to provide a specific location. (more...)
UK to Ban Petrol Car Sales by 2040 UK to Ban Petrol Car Sales by 2040
- July 28, 2017

Environment Secretary Michael Gove said: "Today's plan sets out how we will work with local authorities to tackle the effects of roadside pollution caused by dirty diesels, in particular nitrogen dioxide". India, which suffers from an especially acute air quality problem, is home to numerous world's most polluted cities. A smaller targeted scrappage scheme could take place in the future, however and be aimed at diesels registered before 1 September 2015, with owners being paid up to ... (more...)
Oil prices rally on reduced production Oil prices rally on reduced production
- July 27, 2017

Brent crude futures LCOc1 increased by 41 cents to $50.61 a barrel, while US West Texas Intermediate futures CLc1 rose by 49 cents to touch $48.38, reported Reuters . In refined products, RBOB heating oil futures remained flat at 1.600 a gallon at the NYMEX. Since a year ago, oil prices witnessed sharp fall due to ongoing global glut has primarily been driven by a rise in United States production. (more...)
Ford Motor Company (F) Stake Raised by ARGI Investment Services LLC Ford Motor Company (F) Stake Raised by ARGI Investment Services LLC
- July 27, 2017

Opus Investment Management Inc.'s holdings in Ford Motor were worth $2,444,000 at the end of the most recent reporting period. A number of other institutional investors also recently added to or reduced their stakes in the company. The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Exxonmobil Mngmt Inc Tx invested in 0.25% or 903,382 shares. (more...)
Cage Match: New York Times Vs Cage Match: New York Times Vs
- July 25, 2017

The " Fox and Friends" segment aired early Saturday and may have been the story that lead the President to tweet later Saturday saying the newspaper values "their sick agenda over National Security". She said the online story was changed to reflect comment from the Times after the newspaper reached out. "Neither Fox News' report nor the subsequent on-air coverage was inaccurate", Fox News said. (more...)
Audi to Refit Software on 850000 Diesel Vehicles Outside North America Audi to Refit Software on 850000 Diesel Vehicles Outside North America
- July 25, 2017

The vehicle industry is one of the heavyweights of the German manufacturing sector, directly employing more than 800,000 people and a year ago generating sales totalling 405 billion euros (472 billion dollars). In a move to woo customers, German carmaker giant Audi is offering free software upgrade for its diesel cars to improve emissions . Daimler last Tuesday announced a voluntary recall of more than 3 million Mercedes vehicles in Europe amid mounting questions over its diesel engines. (more...)