Economy

US & China sign ‘phase one’ trade deal to ease global economic tensions

US & China sign ‘phase one’ trade deal to ease global economic tensions The first phase includes China's commitment to buy $ 200 billion more in goods and services than in 2017. U.S. President Donald Trump hosted Chinese Vice Premier Liu He for the signing ceremony at the White House. 'In phase two there will be additional roll backs, ' Mnuchin said. The opacity of China's economy makes proving abusive practices hard, particularly when they involve forced ... [Full Article...]

Ford's China vehicle sales drop 26% in third straight year of decline

Ford's China vehicle sales drop 26% in third straight year of decline Honda Motor Co's China sales also grew 8% year-on-year to a record 1.55 million cars. Ford (NYSE:F) announced that its China vehicle sales in 2019 fell 26.1% from a year earlier to 567,854 units, as the USA automaker continues to battle a prolonged sales decline in its second-biggest market. [Full Article...]

How major United States stock indexes fared on Thursday

How major United States stock indexes fared on Thursday On Friday, the Invesco QQQ Trust (NASDAQ: QQQ ) was up 0.1%, SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA ) was 0.2% lower and SPDR S&P 500 ETF (NYSEArca: SPY ) rose 0.1%, with the Dow Jones Industrial Average reaching toward the 29,000 level for the first time and its quickest new 1000-point milestone since January 2018. [Full Article...]

USA rolls out new Iran sanctions after airstrikes

USA rolls out new Iran sanctions after airstrikes A photograph that purportedly shows one of the Iranian missiles that was launched at Iraqi bases early on 8 January. The president, in a statement announcing the new measures , referenced Iran's nuclear program and use of proxy forces throughout the region while noting that the Iranians have threatened U.S. [Full Article...]

Govt drop petrol bomb by increasing the price of petroleum products

Govt drop petrol bomb by increasing the price of petroleum products The government is charging a petroleum levy of Rs18 per litre on diesel, Rs15 per litre on petrol, Rs6 per litre on kerosene and Rs3 per litre on LDO. The price for one liter of super petrol is set at QR 1.90 in January, which also is the same as this month's price. Its new price is Rs99.45 per litre. [Full Article...]

S&P/TSX composite hits record close, USA stock markets also higher

S&P/TSX composite hits record close, USA stock markets also higher The S&P 500 rose for a fourth straight week, gaining 1.7 per cent for the week, its biggest weekly gain since early September. The Dow climbed 125 points Friday, with US stock indexes setting record highs again intraday, during a "quadruple-witching session" that will see the expiration of December stock options, along with stock index futures and options. [Full Article...]

United States on verge of landmark China trade deal

United States on verge of landmark China trade deal At the same time, Trump said the 25 percent United States tariffs on Chinese goods will stay in place, while an additional 7.5 percent in planned tariffs won't go ahead as planned. Asked specifically about Trump's $50 billion figure, officials in Beijing said Friday that details on value will be disclosed later. All three major stock indexes hit fresh record highs earlier in the session as Be... [Full Article...]

Holden confirm Commodore until 2021 despite termination of model

Holden confirm Commodore until 2021 despite termination of model Holden has axed the Commodore nameplate from its 2020 line-up, ending a badge that carries more than 41 years of history in Australian motoring culture. "Holden is taking this decisive action to ensure a sharp focus on the largest and most buoyant market segments", Aquilina said. "So far this year SUVs and Utes have increased to 76 percent of Holden sales, a trend we only see continuing", he sai... [Full Article...]

John Properties employees receive $10M in bonuses

John Properties employees receive $10M in bonuses What prompted this hefty bonus was the company's goal back in 2005 to double the size of its portfolio from 10 million square feet to 20 million square feet, according to Maykrantz. "I couldn't think of a better way to show it", he commented, adding "Without the team, we are nothing. It's definitely life changing". "Way to go St. [Full Article...]

Pound euro exchange rate steady as Brexit uncertainty hits United Kingdom economic growth

Pound euro exchange rate steady as Brexit uncertainty hits United Kingdom economic growth From August to October, manufacturing fell 0.7% and construction by 0.3%. The services sector was the only positive contributor to GDP growth in the three months to October 2019, growing by 0.2%. The country narrowly avoided a recession during the third quarter, which is classified by two consecutive quarters of contraction. In the three months to October, growth was flat against the previou... [Full Article...]

Trump jobs boom rolls on: Economy added 266,000 new jobs in November

Trump jobs boom rolls on: Economy added 266,000 new jobs in November The jobs growth was the best since January's 312,000 and well clear of the November 2018 total of 196,000. Nationally, some of the hardest hit sectors are manufacturing (-27,500 jobs), public administration (-24,000 jobs), accommodation and food services (-11,000 jobs), information, culture and recreation (-8,300 jobs), the natural resource sector (-6,500 jobs) and transportation/warehousing (... [Full Article...]

Uber releases safety report revealing 5,981 reports of sexual assault

Uber releases safety report revealing 5,981 reports of sexual assault Drivers reported sexual assaults at roughly the same rate as passengers though in 92 percent of the reported rapes the passenger was the victim. Of these incidents, riders were accused as the perpetrator 45% of the time. RALIANCE Business: Uber is teaming up with RALIANCE, leaders in sexual violence awareness and prevention, to create a resource center that will help companies adopt consistent, ... [Full Article...]

OPEC Ministers, Oil Producers Hold 7th Meeting in Vienna

OPEC Ministers, Oil Producers Hold 7th Meeting in Vienna On Wednesday, Ghadhban said he would support at least extending existing cuts to end-2020 from March: "We have to give a positive signal to the market and to me at least we should roll-over present agreement". OPEC's second largest oil producer Iraq said on Tuesday Saudi Arabia was supporting deeper cuts for OPEC+ to 1.6 million barrels per day, or 1.6% of global demand, from the current level o... [Full Article...]

Oil Defies Trade-Deal Bearishness to Rise Before OPEC+ Meeting

Oil Defies Trade-Deal Bearishness to Rise Before OPEC+ Meeting On Tuesday, benchmark Brent was steady near $61 a barrel. US West Texas Intermediate crude was up 25 cents, or 0.5 per cent, at $56.21 a barrel. The world could be heading for an even greater oversupply of oil, and this option - which could lower fuel and energy prices - hangs over the members of the OPEC cartel, which will start negotiations on Thursday. [Full Article...]

Home urine test kit can accurately spot prostate cancer risk

Home urine test kit can accurately spot prostate cancer risk Researchers say the test will be more sensitive than current methods and will be in the form of a collection kit that will enable people to do a urine test in the comfort of their own home. A person who is tested negative would need to step into the hospital every two to three years, only facilitating stress-free conditions for the patients and reducing hospital workload. [Full Article...]

Stocks Fall on Dimming Hopes For U.S.-China Trade Talks

Stocks Fall on Dimming Hopes For U.S.-China Trade Talks Meanwhile, U.S. lawmakers saw the legislation as a key measure to censure the Chinese regime. Trump and U.S. Trade Representative Robert Lighthizer recognize that making such concessions for a "skinny" trade deal that fails to address core intellectual property and technology transfer issues is not a very good deal for Trump, a second person briefed on last weekend's trade phone call said. [Full Article...]

Tesla Chooses Berlin For Its European Gigafactory

Tesla Chooses Berlin For Its European Gigafactory Speculation has been ongoing as to where the Fremont, California-headquartered auto, solar and battery energy storage technologies company would put its next gigawatt-scale manufacturing facility, following the first plant, in Nevada, and the apparently stalled solar production site in Buffalo, New York. [Full Article...]

Elon Musk: Berlin 'gigafactory' will build Teslas starting with the Model Y

Energy-Storage.news reached out to Tesla to ask how focused the new factory is likely to be on its stationary energy storage products, Powerwall, Powerpack and Megapack and whether any solar equipment will be manufactured in Berlin, but had not yet received a response at the time of publication. [Full Article...]

Billionaire wealth drops for the first time in a decade

Billionaire wealth drops for the first time in a decade The billionaire-controlled companies were also more profitable. "Self-made female billionaires contributed more to wealth creation, as their wealth surged by 131 percent from 2013 to past year, while wealth among their multi-generational peers or heiresses increased by 14 percent in the same period", the report said. [Full Article...]

United Kingdom debt burden to rocket under no-deal Brexit, says think-tank

United Kingdom debt burden to rocket under no-deal Brexit, says think-tank Government debt is set to rocket to levels not seen since the 1960s in the event of a no-deal Brexit , a leading economic think tank has warned. It said the Government's day-to-day spending plans for public services were now close to the levels implied by Labour's 2017 election manifesto, and far higher than those in the Conservative manifesto. [Full Article...]


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