Business


Amazon 'testing cashierless technology for bigger stores' Amazon 'testing cashierless technology for bigger stores'
- December 04, 2018

Amazon now has more than a half-dozen Amazon Go stores open or set to open in three cities - Seattle, Chicago and San Francisco - but they are much smaller than traditional grocery stores. It also has lowered prices for Amazon's Prime members. It is reportedly considering opening 3,000 such stores across America . It is not known where or when it will be opening its first United Kingdom cashierless store. (more...)
Canada's Plan to Cut Oil Output Boosts Crude, Stocks
- December 04, 2018

Alberta's government on Sunday announced a 325,000 barrel per day production cut due to massive bottlenecks in pipelines heading to the United States. The curtailment plan, which will apply to both oil-sands and conventional producers, should narrow the discount between Western Canada Select and US benchmark oil by at least $4 a barrel and add an estimated C$1.1 billion ($840 million) in government revenue in the fiscal year starting April 2019, according to the statement. (more...)
The nation honors George H.W. Bush
- December 04, 2018

Bush died at home in Houston on Friday at age 94. As people remembered the 41st president of the United States, author Stephen King couldn't help but see the stark comparison between Bush 41 and current President Donald Trump . The Supreme Court is delaying arguments by a day while a national day of mourning is held for former President George H.W. Bush. Jim McGrath , spokesman for the Bush family, tweeted out a photo on Sunday night, captioning it "mission complete". (more...)
Gold Forecast: Dovish Fed and US-China Deal Needed for Topside Breakout Gold Forecast: Dovish Fed and US-China Deal Needed for Topside Breakout
- December 03, 2018

The Nasdaq 100 rose 3.2 percent and the Dow added 2.5 percent. "As always, our decisions on monetary policy will be created to keep the economy on track in light of the changing outlook for jobs and inflation", Powell said. Mr Trump has criticised Mr Powell repeatedly this year, saying that the base rate is unnecessarily high and risks curtailing an economic boom in the US. (more...)
Trump Suspends Adding New Tariffs to Chinese Imports Trump Suspends Adding New Tariffs to Chinese Imports
- December 03, 2018

Under the agreement reached in Buenos Aires , the two countries have 90 days to resolve their differences over Beijing's tech policies. China will be opening up, China will be getting rid of tariffs. In exchange, Trump apparently extracted a vague promise from China to "purchase a not yet agreed upon, but very substantial" amount of American goods. (more...)
Russia, Saudi to extend OPEC+ pact to arrest sliding oil prices Russia, Saudi to extend OPEC+ pact to arrest sliding oil prices
- December 03, 2018

Oil prices have stopped dropping after a continual sixth-week loss. Crude oil and other cycle-sensitive assets are likely to experience higher volatility as the meeting approaches and markets become more tense. The price of West Texas Intermediate (WTI) for January delivery increased 1.01 percent, while Brent crude for January delivery lost 0.15 percent, during the week ending November 30. (more...)
Oil shock: Qatar pulls out of OPEC Oil shock: Qatar pulls out of OPEC
- December 03, 2018

Qatar has announced that it will leave OPEC next month. Minister of state for energy affairs Saad al-Kaabi told a news conference that Qatar, which he said been a member of Opec for 57 years, would still attend the group's meeting on Thursday and Friday this week, and would abide by its commitments. (more...)
DoJ charges Autonomy founder with fraud over $11BN sale to HP DoJ charges Autonomy founder with fraud over $11BN sale to HP
- December 03, 2018

The charges, which were filed overnight and follow a six-year investigation, include 14 counts of conspiracy and fraud and carry a maximum penalty of 20 years in jail. British entrepreneur Lynch co-founded Autonomy in 1996 and served as its CEO. "These stale allegations are meritless and we reject them emphatically", his spokesman said. (more...)
Trump Trump "exchanged pleasantries" with Saudi crown prince at G20
- December 02, 2018

The meeting was the first face-to-face encounter between the leaders in more than a year, a period that saw Trump impose tariffs on billions of dollars in Chinese imports in a bid to force Beijing to halt trade practices the USA considers unfair. (more...)
Fed: Rate hike 'warranted soon' Fed: Rate hike 'warranted soon'
- December 02, 2018

Speaking to the Economic Club of New York Powell said interest rates were now "just below" the range Fed officials consider neutral, a setting created to neither speed nor slow growth. "Powell is not suggesting that since they are just below the range they may stop soon". "We will be paying very close attention to what incoming economic and financial data are telling us". (more...)
President Donald Trump sings ‘fantastic’ Prime Minister Scott Morrison’s praises
- December 01, 2018

Argentine President Mauricio Macri and President Donald Trump struck up a host of deals on the sidelines of the G20 summit, including investments in infrastructure and energy projects. A White House spokeswoman denied this and Trump said on Friday the ships' seizure was the "sole reason" he scratched the meeting. So an unorthodox solution emerged: Because of resistance from the Trump administration, an official in the French president's office said the statement may have language that ... (more...)
Trump threatens fresh tariffs in wake of GM plant closures Trump threatens fresh tariffs in wake of GM plant closures
- December 01, 2018

On Monday, the company said it would shutter five North American plants, stop building six low-selling passenger cars in North America and cut up to 15,000 jobs. It goes without saying that a possible 25 per cent tariff would have an enormous impact on the United States auto industry. " If we did that with cars coming in, many more cars would be built here and GM would not be closing their plants in Ohio, Michigan & Maryland", Trump tweeted, adding that "The President has great power on ... (more...)
Trump signs NAFTA replacement deal ahead of G20 summit Trump signs NAFTA replacement deal ahead of G20 summit
- December 01, 2018

Noting this week's announcement by top North American automaker General Motors to close several factories in Canada and the United States, Trudeau lamented the factory shutdowns "are a heavy blow ". Trump, who arrived in Buenos Aires late Thursday, barreled into the two-day meeting by announcing via Twitter that he was canceling a planned meeting with Russian President Vladimir Putin over Russia's seizure of Ukrainian vessels. (more...)
US Fed official urges pause on rate hikes with inflation under control US Fed official urges pause on rate hikes with inflation under control
- December 01, 2018

Investors interpreted his remarks as evidence that the Fed might consider pulling back from quarterly rate hikes. The Fed said that nearly all of its policymakers agreed that "a gradual approach to policy normalization remained appropriate" in its newly released minutes of the Federal Open Market Committee (FOMC) meeting which was held from November 7 to November 8. (more...)
Fed officials express caution about pace of future hikes
- November 30, 2018

The minutes show support for a fourth hike this year if the labour market and inflation meet or exceed expectations. Powell also revealed the economic growth coincides with inflation, and the Fed's annual goal of 2 percent interest rate increases. (more...)
Oil prices reverse course as Russian Federation leans toward output cut Oil prices reverse course as Russian Federation leans toward output cut
- November 30, 2018

Oil fell on Thursday, bringing losses for the month so far to 23 per cent, marking its largest one-month fall since the depths of the financial crisis in 2008. The global benchmark crude traded at an $8.45 premium to WTI. On Wednesday, Putin said Russian Federation was in touch with OPEC but Moscow would be satisfied with an oil price of $60 a barrel. (more...)
Justin Trudeau Refuses to Say 'USMCA' at Signing Ceremony
- November 30, 2018

Administration officials have said publicly that the tariffs would be lifted when a new deal was reached to replace NAFTA . And the Canadian prime minister hit Trump on one of the most strained features of the countries' relationship: Trump's tariffs. (more...)
USMCA: Trump Signs New Trade Agreement With Mexico And Canada USMCA: Trump Signs New Trade Agreement With Mexico And Canada
- November 30, 2018

Minister of Foreign Affairs Chrystia Freeland speaks to media on the roof of the Panamericano Hotel in Buenos Aires, Argentina, on November 29, 2018. The three countries continued to talk out the agreement all the way up to the signing ceremony. (more...)
Former Facebook employee says the company has a ‘black people problem’ Former Facebook employee says the company has a ‘black people problem’
- November 30, 2018

That led Facebook to ignore the needs of its black users, whom Mr Luckie said use Facebook more intensely and more frequently than the general population but who often feel they are being unfairly targeted by Facebook's moderators. "There is often more diversity in Keynote presentations than the teams who present them", Luckie wrote in the note, which he originally shared with Facebook employees on November 8. (more...)
US Fed chairman hints at higher rates following Trump attack US Fed chairman hints at higher rates following Trump attack
- November 30, 2018

US Federal Reserve Chair Jerome Powell injected investors with a strong dose of optimism on Wednesday, saying that the central bank's policy rate is now "just below" estimates of a level that neither brakes nor boosts a healthy US economy, comments that many investors read as signalling the Fed's three-year tightening cycle is drawing to a close. (more...)
Alastair Campbell Tells Corbyn: Alastair Campbell Tells Corbyn: "You Can’t End Austerity And Have Brexit"
- November 30, 2018

Speaking to reporters on her flight to the G20 summit in Argentina, the Prime Minister said the trade deal will be important for the rest of the world. He is set to say: "In politics, we can not always have the luxury of doing what we want for ourselves - but we have an abiding duty to do what is right for our country". (more...)
Trump says auto tariffs ‘being studied’ after GM plant closings Trump says auto tariffs ‘being studied’ after GM plant closings
- November 30, 2018

While the decision to close the plants appears more related to the industry trends and consumer demand, experts told Business Insider that Trump's tariffs on steel and aluminum - which GM says have helped drive up its costs by $1 billion this year - most likely accelerated GM's timeframe. (more...)
Trump threatens to cancel Putin meeting amid Russia-Ukraine tensions Trump threatens to cancel Putin meeting amid Russia-Ukraine tensions
- November 30, 2018

But given the dysfunction at those other summits, the G20 leaders are expected to stop short of repeating their vows to fight protectionism, which were a founding principle in 2008. Europe is on weak footing at this year's G-20. "Just take them to McDonald's and go back to the negotiating table, '" Trump said at a 2015 rally. Paul Haenle, director of the Carnegie-Tsinghua Center for Global Policy in Beijing, said Trump needs to properly overhaul the US-China trading relationship and press ... (more...)
National Canada Post Mail Service Resumes News Centre News National Canada Post Mail Service Resumes News Centre News
- November 30, 2018

The ruling will adjust how much delivery employees in suburban and rural Canada (RSMC) are paid, said the corporation in a news release issued on Tuesday. In the coming days, the trade union will be calling on its allies and membership for a campaign of mobilizations, demonstrations and non-violent civil disobedience, Palecek said. (more...)
Facing threat of U.S. tariffs, Apple loses top valuation crown to Microsoft Facing threat of U.S. tariffs, Apple loses top valuation crown to Microsoft
- November 30, 2018

However, by the stock market's close, Apple was able to regain the spot with a market value of over $825 billion. It's worth noting that Microsoft's brief reign as the world's most valuable company wasn't necessarily a result of anything it did right. (more...)
Deutsche Bank offices raided in money laundering probe linked to Panama Papers Deutsche Bank offices raided in money laundering probe linked to Panama Papers
- November 29, 2018

German prosecutors raided several Deutsche Bank offices in the Frankfurt area over suspicions of money laundering based on revelations from the 2016 "Panama Papers" data leak . "The case is related to the Panama Papers ", a spokesperson said. "Something seems to be basically wrong in the compliance and anti-money laundering area of the bank". (more...)
Nasdaq And VanEck Will Launch Nasdaq And VanEck Will Launch "Bitcoin Futures 2.0"
- November 29, 2018

In spite of the seismic drop in the Bitcoin unit price recently, the worlds second largest stock exchange - Nasdaq - is planning on launching a Bitcoin futures product in the coming months. Still, Gurbacs hinted that "there's lots to look forward to in 2019", emphasizing a hopeful launch date for the bitcoin futures product in Q1 of next year. (more...)
Crude Oil Trades Bearish - All Hopes turn to G20 & OPEC's Meeting Crude Oil Trades Bearish - All Hopes turn to G20 & OPEC's Meeting
- November 29, 2018

According to analysts from TDS, crude oil has joined industrial metals in reflecting a micro-macro dichotomy, as sour market sentiment keep prices below fundamentally determined levels. Meanwhile, crude stockpiles in the US probably rose by 700,000 barrels last week, according to the median estimate in a Bloomberg survey. The downward pressure comes from surging supply and a slowdown in demand growth which is expected to result in an oil supply overhang by next year. (more...)
Trudeau meets with Unifor as GM set to shutter Oshawa plant Trudeau meets with Unifor as GM set to shutter Oshawa plant
- November 29, 2018

Unifor president Jerry Dias said General Motors "just showed the president of the United States and the prime minister of Canada their middle finger" by moving production out of Canada and the US and threatening the jobs of about 2,500 workers he represents at the Oshawa plant. (more...)
Fed Chief's Remarks On Economy And Interest Rates Cheer Investors Fed Chief's Remarks On Economy And Interest Rates Cheer Investors
- November 29, 2018

The benchmark fed funds rate, at 2.00-2.25 percent, is within a quarter of a percentage point of the bottom of the Fed's estimated range for neutral, but is also several quarter-point rate hikes below the mid-point estimate of 3 percent. "As always, our decisions on monetary policy will be created to keep the economy on track", he said. But in response to questions he likened the policy process to walking through a dark room, forcing officials to slow down. (more...)

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