Economy

Say 'So Long' To The Oil Rally

Say 'So Long' To The Oil Rally Oil returned to a bull market last week on signs that rising demand and production cuts by OPEC and its allies are finally clearing a global crude surplus. Last week, the oil rig count rose so perhaps we'll see increased U.S. production in this week's U.S. Energy Information Administration's weekly inventories report. [Full Article...]

Sensex, Nifty open on cautious note ahead of RBI policy rate announcement

Sensex, Nifty open on cautious note ahead of RBI policy rate announcement The BSE mid-cap and small-cap indices ended up with SBI Life Insurance Company making its debut on BSE at a premium of 4.75% over its issue price. The market breadth, indicating the overall health of the market, was positive. Consequently, the repo rate, at which it lends to the system, will stand at 6 per cent while reverse repo will also continue to be at 5.75 per cent. [Full Article...]

Britvic: Plans to close Norwich site puts jobs under threat

Britvic: Plans to close Norwich site puts jobs under threat The company, which also makes J2O and Tango drinks, said the proposed closure would not affect its financial forecast. Jeremiah Colman founded Colman's of Norwich at the Stoke Holy Cross water mill four miles south of the city. Colman's mustard maker Unilever , which co-owns the site with Britvic, said it will now review the future of its factory there - which could spell the end of more than a... [Full Article...]

RBI keeps key policy rate unchanged at 6%, lowers FY18 growth projections

RBI keeps key policy rate unchanged at 6%, lowers FY18 growth projections While keeping the key lending rate unchanged, it said: "The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth". [Full Article...]

Amazon, Georgia: If you name it, will company come?

Amazon, Georgia: If you name it, will company come? The Atlanta Journal-Constitution reports that Stonecrest's resolution asks the Georgia General Assembly to form the city of Amazon on the land. According to the local publication AJC , the Stonecrest City Council recently voted in favor of the name change 4-2, something that would involve splitting off 345 acres of land that would be formed into the city of Amazon . [Full Article...]

Toyota Australia production comes to an end

Toyota Australia production comes to an end From next year onwards, Toyota is making the transition towards a national sales and distribution company, with the Altona facility refurbished as a training and product development facility and all sales and marketing operations in Australia coming from the Melbourne headquarters. [Full Article...]

Turnaround "firmly on track" as dividends resume at Tesco

Turnaround Retailer Tesco plc (TSCO.L, TSCDY.PK) reported Wednesday that its first-half profit before tax surged to 562 million pounds from 71 million a year ago. In recent days, Tesco has not been the favourite of many City analysts either, with Credit Suisse warning that it remains most at risk of the big four United Kingdom supermarkets from the continuing rise of discounters Aldi and Lidl, while B... [Full Article...]

India cuts excise duty on petrol and diesel

India cuts excise duty on petrol and diesel The government said the rise in the prices of petrol and diesel is reflected in WPI inflation, which rose to 3.24% in August, compared to 1.88% in July 2017. The new rates will come into effect on Wednesday. 70% of total final retail prices of petrol and diesel are accounted by tax charges. With the Centre cutting excise duty , it expects the states to follow suit and reduce Value-Added Tax r... [Full Article...]

Ford Pushes for Plug-Ins, Starts EV Team

Ford Pushes for Plug-Ins, Starts EV Team Ford previously announced a plan to spend some $4.5 billion over the next five years on EVs, but that also includes plug-in hybrids. "When you're a long-lived company that has had success over multiple decades the decision to change is not easy - culturally or operationally", Ford CEO Jim Hackett said in the statement. [Full Article...]

How Many More Massacres Before US Takes Steps to Prevent Them — WashPost

How Many More Massacres Before US Takes Steps to Prevent Them — WashPost Las Vegas police's Joe Lombardo also said that police uncovered explosives and 1,000s of rounds of ammunition at Paddock's home. And that is because there is simply no other country where someone - anyone - can buy any kind of assault rifles and other guns , and enhancements to make them even more deadly, and buy as many as they want. [Full Article...]

EU to reform sales tax, prepares changes to rates

EU to reform sales tax, prepares changes to rates US officials under former President Barack Obama sharply criticized the EU's so-called state-aid investigations, arguing the moves undermine worldwide tax norms. The aim is to reduce the loss of billions of euros of tax revenues each year. The bill could total several hundred million euros and will reportedly be announced on Wednesday. [Full Article...]

Zogenix, Inc. (NASDAQ:ZGNX) has Overbought Reading Based on Its RSI

Zogenix, Inc. (NASDAQ:ZGNX) has Overbought Reading Based on Its RSI Zogenix (NASDAQ: ZGNX ) last issued its earnings results on Tuesday, August 8th. American International Group Inc. now owns 15,278 shares of the company's stock worth $166,000 after buying an additional 1,010 shares during the last quarter. [Full Article...]

American Spirit: GoFundMe Victims' Fundraiser Raises $684000 In 4 Hours

American Spirit: GoFundMe Victims' Fundraiser Raises $684000 In 4 Hours A GoFundMe account identified as " Oakland Raiders " and linked to the name of Raiders president Marc Badain contributed $50,000 to the fund. The initial GoFundMe goal was exceeded within three hours. Clark County Commissioner Steve Sisolak posted the funding request with the website Monday, and thousands of donations ranging from $5 to $650 poured in. [Full Article...]

Invests $906000 in Vornado Realty Trust (VNO) Stock

Invests $906000 in Vornado Realty Trust (VNO) Stock The stock rose 0.79% or $0.35 reaching $44.65 per share. Schaefer Kimberly bought 1,000 shares worth $37,630. Digital Realty Trust, Inc. Vanguard Group Inc. 07/19/2016 - Lexington Realty Trust was downgraded to "hold" by analysts at Jefferies. 05/01/2015 - Lexington Realty Trust had its "hold" rating reiterated by analysts at Zacks. [Full Article...]

Ford reviews China strategy as focus turns to electric vehicles

Ford reviews China strategy as focus turns to electric vehicles Hackett and his executive team spent the summer reevaluating Ford's operations after former CEO Mark Fields was ousted. Ford announced in January plans for 13 new electrified cars worldwide in the next five years. The report comes on the heels of crosstown rival GM announcing plans for two all-new electric cars in the next year and a half, plus another 18 electric cars over the next six yea... [Full Article...]

United Airlines Issues Travel Waiver for Las Vegas After Shooting

United Airlines Issues Travel Waiver for Las Vegas After Shooting The FCO said a number of flights have been diverted from Las Vegas McCarran International Airport and passengers should check with their airline before travelling. 2 to 3, can travel between Oct. 2 and 6 and don't change their origin or destination city. Those who simply cancel their plans can request a refund. The airline flies direct to Las Vegas from Oakland International Airport and Stoc... [Full Article...]

Australia Holds Rates as Lowe Remains Reluctant to Follow Peers

Australia Holds Rates as Lowe Remains Reluctant to Follow Peers For this to change the RBA might be inclined to either purposefully devalue the Australian Dollar, or simply wait it out, patiently waiting for inflation and other factors to reach appropriate levels before pushing for a rate hike. "Recent employment growth has been stronger than expected and data on job advertisements has certainly been encouraging". "A weaker Australian dollar, perhaps due to ... [Full Article...]

Yahoo Triples Estimate of Breached Accounts to 3 Billion

Those disclosures delayed Verizon's takeover of Yahoo as the telco investigated the incidents, and ultimately led the telco cut its purchase price by $350 million to $4.48 billion. USA authorities allege Russian intelligence agents hired Baratov and another hacker to carry out attacks on Yahoo from 2014 to 2016. "Verizon is committed to the highest standards of accountability and transparency,... [Full Article...]

Percentage Price Oscillator Histogram Above Zero for Wetherspoon [ JD] Plc (JDW.L)

Percentage Price Oscillator Histogram Above Zero for Wetherspoon [ JD] Plc (JDW.L) The Pennsylvania-based Snow Capital Management Lp has invested 1.77% in the stock. They expect $2.11 EPS, up 3.94% or $0.08 from last year's $2.03 per share. Parkside State Bank & Tru stated it has 0% in Close Brothers Group plc (LON:CBG). 26,556 were accumulated by Dekabank Deutsche Girozentrale. The C-Score is a system developed by James Montier that helps determine whether a company is involv... [Full Article...]

Wells Fargo Rehires 1800 As it Faces Calls for Closure

Wells Fargo Rehires 1800 As it Faces Calls for Closure His performance should prompt incoming Chair Betsy Duke to find a leader who can turn the page. Wells Fargo's CEO Tim Sloan apologized for the millions of bogus credit and deposit accounts its employees had opened over the years and said the bank has hired back close to 1,800 staff who had quit or had been dismissed for refusing to go along with the practice, according to prepared congre... [Full Article...]


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