Economy

Canada 'clear, strong' with Saudis on importance of human rights, PM says

Canada 'clear, strong' with Saudis on importance of human rights, PM says Khashoggi's fiancee Hatice Cengiz , who was waiting outside the consulate when he went inside to sort out marriage paperwork, echoed the call, urging Saudi on Twitter to "officially reveal what happened" to him. Also speaking on Friday's release of American pastor Andrew Brunson, Cavusoglu said he was released as the judicial process on Brunson was completed. [Full Article...]

OPEC puts Iran's September oil output at 3.447m bpd

OPEC puts Iran's September oil output at 3.447m bpd The group's daily production rose by 132,000 barrels in September to 32.76 million. As trade tensions between the US and China escalate, investors are shunning risk assets from equities to oil on fears over slowing growth. As mentioned in yesterday's daily update, October exports have fallen to around 1M barrels a day (from a peak of 2.5M earlier this year) according to tanker and industry sources... [Full Article...]

Mega Millions players have chance at US’s 9th largest prize

Mega Millions players have chance at US’s 9th largest prize One person in Arkansas did win $3 million Friday by matching all five of the white balls. The estimated $654 million total is the second-highest in the game's history. The Mega Millions jackpot is approaching $470 million. The prize has been growing for 23 consecutive drawings since July 24. NY has sold the most Mega Millions jackpot winnings in game history, with 35 wins in the last 16 year... [Full Article...]

Elon Musk's tequila is called 'Teslaquila', and he says it's 'coming soon'

Elon Musk's tequila is called 'Teslaquila', and he says it's 'coming soon' Now, almost half a year later, it looks like tequila could be the latest in Tesla's arsenal of merchandise it sells to fans. It is now up to the U.S. Initially rejecting an SEC offer to settle the case, Musk relented two days after the fraud complaint and agreed to resolve the matter by paying the penalty, stepping down as chairman and agreeing to oversight about his communications on compan... [Full Article...]

Can The Fed Really Cause A Stock Crash As Trump Claims?

Can The Fed Really Cause A Stock Crash As Trump Claims? For much of the last couple of years, short-term interest rates, which the Fed controls directly, have risen much faster than longer-term rates, which are set based on global supply and demand for bonds. There is no indication that the current or projected interest rates are affecting USA economic growth. The average rate for a 30-year fixed-rate mortgage rose to 4.7 percent last week, from belo... [Full Article...]

Facebook says hackers accessed data of 29m users

Facebook says hackers accessed data of 29m users For roughly half the users affected by the breach, 14 million accounts, hackers were also able to collect even more information, such as birth dates, relationship status, lists of friends, posts they had written, recent search history, and geographic information from the last 10 locations that they had checked into or were tagged in on Facebook. [Full Article...]

Have 19 hours? World's longest commercial flight takes off

Have 19 hours? World's longest commercial flight takes off Singapore Airlines is set to launch a new non-stop service between Singapore and NY on Thursday, with a flight time of 18 hours and 45 minutes - and they'll be farewelling squishy economy seats for the plush new service. The cabins in the plane have higher than the normal ceilings, larger windows than the normal and lighting created to reduce jet lag. "My cousin said 'hey, this is in the pres... [Full Article...]

China trade surplus with US widens to record $34.1B

China trade surplus with US widens to record $34.1B China's trade surplus with the United States surged to a record high of $34.13 billion in September, compared with $31.05 billion in August, Chinese customs data showed on Friday. The two countries imposed new tariffs on a massive amount of each other's goods mid-September, with the USA targeting $200 billion in Chinese imports and Beijing firing back at $60 billion worth of United States good... [Full Article...]

Trump takes aim at 'crazy' Fed as markets sink following United States slump

Trump takes aim at 'crazy' Fed as markets sink following United States slump Treasury note has risen to around 3.1 percent from around 2.1 percent over the past year. On Wednesday, the Dow fell by more than 800 points, its worst drop in eight months. White House economic adviser Larry Kudlow on Thursday said Trump's opinions had no weight on the Fed's actions. Trump on Thursday also indicated that the Fed's policies were harming him personally. [Full Article...]

International Monetary Fund cuts Nigeria's growth projection to 1.9% - Strategy

International Monetary Fund cuts Nigeria's growth projection to 1.9% - Strategy Meanwhile, the benchmark Nikkei 225 Index fell 1.32 percent or 314.33 points to 23,469.39 points at the close. The FTSE 100, which closed at 7,233.33, is forecast to open 10 points higher when trading begins shortly. Overall, global growth will remain steady - about 3.7 percent this year - and exceed that of 2012-2016. However, Bank Indonesia's senior deputy governor Mirza Adityaswara said that ... [Full Article...]

Conservatives may have to depose prime minister to 'heal wounds' - DUP MP

Conservatives may have to depose prime minister to 'heal wounds' - DUP MP The DUP is asking her to do something she... He also stressed the EU's insistence that Britain must accept possible checks on goods moving between its mainland and its province of Northern Ireland , saying Brexit will trigger the need for customs, value-added tax and compliance checks with European Union standards. [Full Article...]

International Monetary Fund downgrades outlook for U.S., China as result of trade war

International Monetary Fund downgrades outlook for U.S., China as result of trade war That initiative includes China, India and Japan, but not the United States. "And there would also be lots of innocent bystanders", including countries that supply commodities and components to China, such as Indonesia . In the low income countries, a key challenge is to improve people's livelihoods by meeting the Sustainable Development Goals by 2030. China and the United States have slapped ti... [Full Article...]

Dow industrials sink 831 points as tech companies plunge

Dow industrials sink 831 points as tech companies plunge Commodity Futures Trading Commission. USA airlines were another big loser, with American Airlines sliding 4.1% and Southwest Airlines 3.8% as a major U.S. The stock fell 16.8 percent to 49 cents. "The indications we look at lead us to conclude this is likely to be yet another brief pullback in the context of a 9.5-year bull market with another 3-5 years left to go", Reynolds said in a note. [Full Article...]

'The Fed has gone crazy': Trump points finger for Wall Street tumble

'The Fed has gone crazy': Trump points finger for Wall Street tumble He added later, "The problem, in my opinion, is Treasury's and the Fed". "I'm not thrilled because we go up", he explained, "and every time we go up they want to raise rates again, and I don't really - I am not happy about it, but at the same time I'm letting them do what they feel is best". [Full Article...]

International Monetary Fund says Pakistan has not asked it for a bailout so far

International Monetary Fund says Pakistan has not asked it for a bailout so far Since the last GFSR in April, global economic conditions have become less balanced, with a more pronounced divergence between advanced and emerging economies. 'Strong growth over the summer is likely to reassure policymakers that the recent interest rate rise was warranted, but they'll be hoping to see the momentum maintained as Brexit approaches. [Full Article...]

Americans Nordhaus, Romer win Nobel Economics Prize

Americans Nordhaus, Romer win Nobel Economics Prize Proceedings have been overshadowed by the absence of the literature prize, postponed to give the Swedish Academy time to restore public trust after a sexual assault scandal . Both are macroeconomists dealing with long-run dynamics-big questions of what spurs economic growth, the importance of sustainable growth, and how to tackle climate change. [Full Article...]

Trump takes aim at 'crazy' Fed as markets sink following US slump

Trump takes aim at 'crazy' Fed as markets sink following US slump They're so tight. I think the Fed has gone insane", Trump told reporters on his way to a rally in Pennsylvania. A stock market correction is defined as a decline of at least 10% from the high point of the past 52 weeks, suggesting that major United States indices have further to fall. [Full Article...]

USA knew of Saudi plan to seize missing journalist, newspaper claims

USA knew of Saudi plan to seize missing journalist, newspaper claims Pence said . A total of 25 to 30 professional and non-professional journalists are now believed to be detained in Saudi Arabia , which is ranked 169th out of 180 countries in RSF's 2018 World Press Freedom Index, the organisation also said. [Full Article...]

The US Heard Saudis Talk About Capturing Khashoggi

The US Heard Saudis Talk About Capturing Khashoggi Saudi Arabia's government has no explanation of what happened to Khashoggi, just saying that he left the consulate after his meeting. Republican Senator Lindsey Graham said it's "imperative" that the Saudi government give clear answers about what happened to Khashoggi. [Full Article...]

China must take strong stimulus measures to support growth - state media

China must take strong stimulus measures to support growth - state media However, Beijing has refused to yield to USA complaints that the Chinese government steals or pressures foreign companies into handing over technology. Chinese stocks took a hammering Monday as traders returned to work after a weeklong holiday in the world's second-largest economy. The biggest decliners were technology stocks , which tumbled 1.18 percent. [Full Article...]


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