Markets

by | February 08, 2019 | 00:25

Stocks gained by 1.3 million barrels in the week ended February 1, compared with analysts' expectations for an increase of 2. 2 million barrels . The producers known as OPEC + began cutting production by 1.2 million barrels per day from last month to avert a new supply glut and OPEC has delivered nearly three-quarters of its pledged cutback already, according to a Reuters survey.

by | February 07, 2019 | 13:44

The online startup can't retrieve about US$145 million in Bitcoin , Litecoin, Ether and other digital tokens held for its customers. The court-issued order means QuadrigaCX will have 30 days of initial protection from its creditors to allow it to come up with a "Plan of Arrangement".

by | February 07, 2019 | 12:54

The company said fourth-quarter sales were $16.91 billion, ahead of the $16.4 billion analysts expected. Facebook shares jumped 7.7 per cent to US$161.99 following the release of the earnings. "There's a lot more that we need to figure out before we finalize the plans". But analysts say the trust issue is crucial for Facebook if it wants to move forward in its mission to connect the world.

by | February 04, 2019 | 17:13

Average hourly wages rose 3.2 percent in January from a year earlier. The numbers released Friday by the Department of Labor represent the largest monthly jobs increase in almost a year and continue a long running trend of 100 consecutive months of growth.

by | February 03, 2019 | 20:57

European Council President Donald Tusk said he spoke with May on the phone on Wednesday and directly told her that the withdrawal agreement was not open for renegotiation. Mrs May's trip to Liverpool saw her unable to answer an urgent question in the House of Commons from Mr Corbyn on what progress she had made in achieving legal changes to her Brexit deal.

by | February 02, 2019 | 08:11

Shares of the company fell 1.7 per cent to US$1,690 after the bell. For the fourth quarter, Amazon North America delivered more operating income than AWS-$2.25 billion to $2.18 billion. Shares fluctuated between gains and losses in extended trading after the report and were little changed at 5:19 p.m.in NY. The big picture: Amazon revealed that during the holiday season, tens of millions of customers started Prime free trials or started paid memberships.

by | February 02, 2019 | 07:55

A prominent Venezuelan lawmaker says that a group of European Union and Latin American countries aiming to solve the political crisis in Venezuela should support the ouster of President Nicolas Maduro without negotiations. The newspaper reported that "gold was removed from the plane, which was then loaded with containers filled with cash in US dollars". The military's top leadership is backing Maduro, though analysts warn that rank-and-file troops frustrated by their country's economic ...

by | February 02, 2019 | 06:10

Crude inventories rose by 6.6 million barrels in the week ended January 18 to 443.6 million, compared with analysts' expectations for a decrease of 42,000 barrels. "The stock market probably responds mildly", Fitzmartyn said. If there is regime change in Venezuela, oil production could ramp up to more traditional levels and that might come to weigh on oil prices, Johnston said.

by | February 01, 2019 | 00:44

Cabinet-level officials, led by Liu, who is Xi's top economic adviser, and US Trade Representative Robert Lighthizer, met in the Eisenhower Executive Office Building next to the White House on Wednesday with only a month left to reach a deal.

by | January 30, 2019 | 05:09

Revenue from the iPhone declined 15% from the year-ago quarter, but total revenue from all other products and services grew 19%. Typically, Apple's earnings report for the holiday quarter is a sight to behold. Apple shares rose nearly 4 percent in extended trading on Tuesday. "We wouldn't change our position with anyone's", Cook reassured analysts during a conference call reviewing the past quarter and the upcoming months.

by | January 29, 2019 | 06:42

A partial government shutdown is possible again next month when funding for many agencies runs out February 15 under the short-term spending deal reached Friday . While some said Trump caved by reopening the government with no border wall funding (conservative commentator Ann Coulter described Trump as a "wimp"), he insisted that the deal was "in no way a concession".

by | January 28, 2019 | 10:16

His was the third consecutive New Yorker to win a 2018 lottery drawing. Johnson has opted to take the cash lump sum payment of $180 million, which after taxes comes out to be about $114 million. "I start and can't finish my food ", Johnson told Fox 5 NY. Johnson, who has been playing the lottery for 40 years, said he was taking a sick day from work when he stopped at a nearby gas station after collecting his pay cheque.

by | January 27, 2019 | 22:08

With the shutdown ending, the question arises whether Trump will be re-invited to deliver his State of the Union address in Congress next Tuesday. In Congress, the poll shows House Democrats garner majority support from fellow partisans and independents for investigating possible collusion with Russian Federation in 2016, as well as suspected financial ties between Trump and foreign governments.

by | January 26, 2019 | 04:41

The firm has successfully rolled out over 30 5G field trials across 17 Chinese provinces, with speeds that are 97 times faster than current 4G signals, said Huawei's vice-president of wireless network Yang Chaobin. At the launch, the CEO of Huawei - Yu Chengdong has also announced that Huawei's 5G foldable mobile will also be released at the upcoming MWX 2019 scheduled in February this year.

by | January 26, 2019 | 03:40

China Unicom, one of China's major state-owned telecommunication companies, confirmed the government had ordered a block on Bing, the FT said citing a source. In 2018 alone, Beijing shuttered 26,000 "illegal" websites and deleted six million online posts containing vulgar content, the official Xinhua news agency said earlier this month.

by | January 23, 2019 | 11:41

Among the threats cited in the report were more trade tariffs, a renewed tightening of financial conditions, a no-deal Brexit and a deeper-than-anticipated slowdown in China . It said emerging market and developing economies had been tested by hard external conditions over the past few months amid trade tensions, rising United States interest rates, dollar appreciation, capital outflows, and volatile oil prices.

by | January 23, 2019 | 10:11

Capital Economics estimates slower China expansion will shave about 0.2 percentage point off global growth this year, compared to 2018, while Citigroup Inc. China's government raised the limit to two children in 2016 to rejuvenate the world's most populous country, which has almost 1.4 billion people, and experts say it may remove the cap next year.

by | January 22, 2019 | 09:32

EIA expects non-OPEC producers will increase oil supply by 2.4 million b/d in 2019 which will offset forecast supply declines from OPEC members, resulting in an average of 1.4 million b/d in total global supply growth in 2019. The IEA also reported that United States oil output will rise by 1.3 million bpd in 2019, though S&P Global Platts reported USA oil rigs dropping for the ninth consecutive week when Brent prices fell below $70 per barrel in mid-November 2018.

by | January 21, 2019 | 00:43

Roughly a quarter of the government is closed and an estimated 800,000 federal workers have been adversely affected by the lapse in funding, who are either furloughed or working without any pay. And Nancy Pelosi made it very hard when she said that a wall is amoral. Though he didn't come up with or help craft the proposal, McConnell offered suggestions over the last two days as to how to move the plan forward, a source familiar told CNN .

by | January 20, 2019 | 16:46

Ghosn , arrested and detained in Tokyo since November 19, has been indicted in Japan on charges of under-reporting his salary for 8 years through March 2018, and temporarily transferring personal investment losses to Nissan during the global financial crisis.