Economy

Oil Slides Toward Worst Loss in a Decade as Russia Mixes Signals

Oil Slides Toward Worst Loss in a Decade as Russia Mixes Signals But oil trade, vital for Russian economy, is conducted in U.S. dollars, a "monopoly" Russia's President Vladimir Putin wants to end. The price of oil has fallen by just over a fifth since the end of October and by almost a third over the past two months, in declines not seen since 2008. [Full Article...]

Oshawa GM plant to close, sources say

Oshawa GM plant to close, sources say Barra said. Chief Executive Officer Mary Barra has said the move will free up as much as US$6 billion annually to spend on electric vehicle and autonomous driving technology. Trump criticized the closures while speaking to reporters Monday afternoon and said he spoke to Barra. GM was swept up in the financial crisis of 2008-09, and received bailout loans worth US$60-billion from the governme... [Full Article...]

Donald Trump warns China he won't back down on trade tariffs

Donald Trump warns China he won't back down on trade tariffs Less than an hour before tweeting that the meeting was off, Trump told reporters gathered on the South Lawn of the White House that "we haven't terminated that meeting". En route to Argentina, Xi said in Spain on Wednesday that his government would indeed boost protection of intellectual property, although foreign companies in China complain they have heard such promises before. [Full Article...]

Trump Wants GM to Halt Car Production in China

Trump Wants GM to Halt Car Production in China The restructuring reflects the changing US and North American auto markets as manufacturers continue a dramatic shift away from cars toward SUVs and trucks. GM said it is cutting production of several auto models, including the compact Chevrolet Cruze , as part of a massive restructuring that will eliminate about 5 percent of its North American workforce. [Full Article...]

Foreign Secretary condemns Russian aggression in the Sea of Azov

Foreign Secretary condemns Russian aggression in the Sea of Azov The approved measures included a partial mobilisation and strengthening the country's air defences. As a result of the skirmish between the two navies , BBC says six Ukrainian sailors were injured. The incident took place on Sunday as three Ukrainian naval ships were transiting from Odessa on the Black Sea to Mariupol in the Sea of Azov, via the Kerch Strait. [Full Article...]

White House Climate Report Warns of Worsening US Disasters

White House Climate Report Warns of Worsening US Disasters The report lays out the impacts of climate change on natural resources and environmental services in USA territories from Puerto Rico to the country's Midwest region, which comprises 18 percent of the country's GDP through agricultural production. [Full Article...]

Amazon Alexa Devices Get Skype Calling Support in India

Amazon Alexa Devices Get Skype Calling Support in India Once enabled, you'll be able to start Skype calls by using phrases like "Alexa, Skype mom" or "Alexa, call dad on Skype". If you aren't targeted you can try linking your Chase Ultimate Rewards card with your Amazon account here and then check back after a few days. [Full Article...]

Forecasters warn Thanksgiving could be the coldest on record

Forecasters warn Thanksgiving could be the coldest on record Looks like we'll tack on several more days before we finally reach our normal. Given the timing, I'm concerned some could get caught in some of these intense snow showers which could create white-out conditions. Temperatures will start in the mid-30s and warm to the mid-40s. An isolated (20%) chance for a shower builds in for the afternoon hours, but evening showers and overnight showers are mor... [Full Article...]

British cabinet meets as DUP, Spain revs up pressure over Brexit deal

British cabinet meets as DUP, Spain revs up pressure over Brexit deal Extending transition is expected to cost up to £10billion a year in European Union subscriptions but is a possible way of avoiding using the controversial Irish border backstop. Madrid is seeking to secure what it sees as its right to negotiate the future on Gibraltar with Britain on a bilateral basis after Brexit. Spain has said it will not agree to the draft Brexit withdrawal deal without c... [Full Article...]

Oil prices edge up on expected OPEC supply cuts

Oil prices edge up on expected OPEC supply cuts Brent crude settled up 3 cents at $66.79 a barrel, strengthening late in the session after earlier hitting a low of $65.27 a barrel. As a result, financial traders have become wary of oil markets, seeing further price downside risks from the soaring United States shale production as well as the deteriorating economic outlook. [Full Article...]

Trade war will produce ‘no winners’, China’s Xi Jinping tells leaders

Trade war will produce ‘no winners’, China’s Xi Jinping tells leaders The two countries have been engaged in a tit-for-tat trade war this year. Trump and Xi are scheduled to meet a few weeks from now at the Group of 20 summit in Buenos Aires. A visit that Australia and the United States are viewing with a lot of anxiety. Still, while US allies like Australia welcome American firepower in the region, they also worry about its tactics on trade. [Full Article...]

Investors suffer technology jitters to send Wall Street tumbling

Investors suffer technology jitters to send Wall Street tumbling Banks and consumer-focused companies and media and communications stocks also took heavy losses Monday. The S&P 500 index was down 54.79 points at 2,726.22, while the Nasdaq composite closed off 2.78 per cent or 206.03 points to 7,200.87. closed down five per cent. In Europe, London's FTSE traded lower by 0.2 percent, Germany's DAX was lower by 0.9 percent and France's CAC declined 0.3 percent. [Full Article...]

Theresa May vows to fight for Brexit plan in face of turmoil

Theresa May vows to fight for Brexit plan in face of turmoil Speaking to reporters outside 10 Downing Street following a five-hour-long Cabinet meeting, May said the collective agreement of her Cabinet was to agree to the draft withdrawal agreement and the outline future framework. "'No deal' is not pretty", Health Secretary Matt Hancock told BBC Radio 4. And then there is also the remote possibility that Britain holds a second referendum on Brexit, i... [Full Article...]

Jim Jordan on the money: House loss is GOP's own fault

Jim Jordan on the money: House loss is GOP's own fault President Donald Trump is warning that stock markets will suffer from Democratic threats of lengthy investigations and legislative efforts to undo his administration's policies. Elections Wednesday will also determine party leadership in the Senate. Overall, Pelosi raised $129 million for the Democratic Congressional Campaign Committee. [Full Article...]

No, Amazon Didn't Just Rename a City 'National Landing.' Here's the Deal

No, Amazon Didn't Just Rename a City 'National Landing.' Here's the Deal Toronto was, of course, one of the cities shortlisted, and was the only Canadian city to make it to this round. Amazon says it will invest $5 billion and create more than 50,000 jobs across the two new headquarters locations , with more than 25,000 employees each in New York City and Arlington . [Full Article...]

Alibaba Singles' Day sales hit $10 billion in first hour

Alibaba Singles' Day sales hit $10 billion in first hour Still, Alibaba is intent on beating 2017's 39 percent growth and 168 billion yuan in transactions, a haul that dwarfed the signature USA shopping days Black Friday and Cyber Monday combined. While most businesses benefit from the holiday in China now, the biggest beneficiary of Singles' Day is Alibaba. Today, Singles' Day has expanded to become a shopping festival for everyone, and Alibab... [Full Article...]

United States warns against allowing Iranian tankers to port — Global Geopolitical Series

United States warns against allowing Iranian tankers to port — Global Geopolitical Series Global benchmark Brent crude oil fell by 83 cents or 1.17 percent to $69.82 a barrel, while US light crude futures were down 1.24 percent at $59.92 a barrel. Russian output in October is put at a record 11.4 million barrels per day - an increase of almost half a million barrels per day since it began ramping up production levels in May. [Full Article...]

Sheriff: Marijuana Legalization Will Change The Face Of Michigan

Sheriff: Marijuana Legalization Will Change The Face Of Michigan Utah's governor said he would call lawmakers into a special session after the midterm election to pass the deal into law, even if Tuesday's initiative failed. The Justice Department did not immediately return a message seeking comment. The proposal allows people 21 and older to possess, use, and buy cannabis for recreational use. [Full Article...]

Amazon mum on reports it will split new headquarters

Amazon mum on reports it will split new headquarters First, the Wall Street Journal reported that Amazon would not choose a single city for its second headquarters , but rather split its promised 50,000 extra employees between two different cities. Mayor Hogsett says he expects Amazon's decision soon after the midterm elections Tuesday so that the five billion dollar bombshell doesn't change any political races for the victor or the loser locatio... [Full Article...]

Trump predicts he’ll make trade deal with China

Trump predicts he’ll make trade deal with China China's foreign ministry says a phone conversation between President Xi Jinping and his American counterpart, Donald Trump, about trade and other issues was "extremely positive". tariffs. Bloomberg reported on Monday that the Trump administration was preparing to announce tariffs on the remaining Chinese imports, about $257 billion worth, if the meeting fails to ease the U.S. [Full Article...]


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