Money

Hong Kong at greatest risk of property bubble

Hong Kong at greatest risk of property bubble New York's recent price decline - the first in several years - was partially due to reduced deductions for local taxes and rising mortgage rates, the bank said. London is among the top cities most at risk of a housing bubble, according to a new report measuring the world's most overpriced property markets. [Full Article...]

Trump says he rejected Trudeau, again threatens Canadian-built auto tariffs

Trump says he rejected Trudeau, again threatens Canadian-built auto tariffs The stalled trade negotiations - and Trump's comments - have renewed whispers of personal friction between Freeland and U.S. trade representative Robert Lighthizer. Meredith Lilly, an worldwide trade expert at Carleton University in Ottawa, said there's virtually nothing in the text that will take Canadian negotiators by surprise. [Full Article...]

Elon Musk Is Being Sued by the SEC for Fraud

Elon Musk Is Being Sued by the SEC for Fraud Neither Musk nor the company ever specified what funding Musk was referring to. Absent Musk's comments, however, it looked as if the markets might take a wait-and-see attitude toward the company in the second and third quarters, as the carmaker worked out its May production issues with its Model 3 sedan. [Full Article...]

Facebook says security breach affected 50 million accounts

Facebook says security breach affected 50 million accounts If you go to your Facebook page and don't need to log in, then your account is safe - it was not breached. "Third, we're temporarily turning off the 'View As " feature while we conduct a thorough security review, ' the firm said. Discovering the breach earlier this week, the company said that the investigation in the matter is still in its initial phase. Facebook topped off the post by ... [Full Article...]

New bank launches with market-leading savings rate - Savings

New bank launches with market-leading savings rate - Savings Online Savings Account pays a market-leading rate of 1.50% AER (or 1.49% gross, with interest paid on a monthly basis), easily beating its competitors - the next-best deal, which comes from Yorkshire Building Society , pays 1.41% in comparison - and nearly triple the current average easy access rate of 0.60%. [Full Article...]

Canada and Trump administration at impasse — NAFTA negotiations

Mexican Foreign Minister Luis Videgaray in recent days has raced the clock to bridge the gaps between the USA and Canadian sides, the official said. The release of the formal text will come ahead of its formal presentation to U.S. proposal were not immediately answered. As negotiations have dragged, the president has become visibly annoyed with Canadian officials. Trump said this week that h... [Full Article...]

SEC sues Elon Musk over tweet, seeking his ouster from Tesla

SEC sues Elon Musk over tweet, seeking his ouster from Tesla The lawsuit also accuses Musk of picking a $420 stock price because "he had recently learned about the number's significance in marijuana culture and thought his girlfriend 'would find it amusing, which admittedly is not a great reason to pick a price'". [Full Article...]

Tesla's Musk pulled plug on settlement with SEC at last minute

Friday's selling has Tesla's stock on track to open near $270 a share, its lowest level since September 7. By July 31, the discussions had escalated to the point that Musk floated the idea of pursuing a buyout that would end Tesla's eight-year stint as a publicly held company. [Full Article...]

Federal Reserve hikes interest rate, citing "strong" economy

Federal Reserve hikes interest rate, citing In a statement after its latest policy meeting, the Fed dropped phrasing it had long used that characterized its policy as "accommodative" - that is, favoring low rates. "On Wednesday, our team expects Powell to highlight the growing upside risks to the economic backdrop, downplay the potential impact of tariffs on the economy, and dodge any questions on the politicization of the Fed", said Lo... [Full Article...]

United States regulators charge Tesla CEO Elon Musk with fraud

United States regulators charge Tesla CEO Elon Musk with fraud Tesla is not named as the defendant in the SEC complaint and officials refused to comment on matters beyond the complaint filed today. Mr Musk, 47, is co-founder of Tesla and has served as chief executive since 2008. You can read the entire SEC court filing below. As evidence, the complaint notes that within minutes of the first tweet, the head of investor relations at Tesla texted Musk asking i... [Full Article...]

World Bank Report Warns Gaza's Economy in 'Free Fall'

World Bank Report Warns Gaza's Economy in 'Free Fall' It says cuts to aid and salaries have added to years of isolation through Israel's blockade, leaving citizens in distress. The report also states that Gaza's economy has shrinked by 6% in the first quarter of 2018. Beyond a crisis response , the Government of Israel could support a conducive environment for economic growth by lifting restrictions on trade and allowing the movement of go... [Full Article...]

Oil prices surge as US rules out using emergency reserves

At 1155 GMT, November WTI Crude Oil is trading $72.28, up $0.71 or +0.99% and December Brent Crude Oil is at $81.38, up $0.59 or +0.73%. Analysts expect sanctions to remove between 500,000 and 1 million barrels per day out of the globe's oil market. [Full Article...]

Tesla to Combat Distribution Problems With Its Own Car Carriers

Tesla to Combat Distribution Problems With Its Own Car Carriers First was the exclusive delivery experience event that saw hundreds of Model 3s being driven away by their owners. He delivered a Model 3 straight from Tesla's Fremont factory to a customer's doorstep using an enclosed trailer. A customer took to Twitter asking Musk about the status of a Model 3 (AWD) order placed in June. The community mobilized itself immediately, and by Saturday, Tesla's deli... [Full Article...]

Murdoch’s Fox will sell its 39% stake in Sky to Comcast

Murdoch’s Fox will sell its 39% stake in Sky to Comcast United States cable TV giant Comcast succeeded Saturday in its quest to nab Sky, outbidding rival 21st Century Fox as traditional TV and film companies look to beef up their offerings and fend off upstarts like Amazon and Netflix. We bet - and nearly lost - the farm on launching a business that many didn't think was such a good idea. Comcast boss Brian Roberts had said he was prepared to joint... [Full Article...]

Trump Rips Canada, NAFTA, Freeland In Marathon Press Conference

Trump Rips Canada, NAFTA, Freeland In Marathon Press Conference Trade Representative Robert Lighthizer. "Canada's not making concessions in areas we think are essential", Lighthizer continued. Talks have become increasingly hostile. Lighthizer's comments were first reported by the Wall Street Journal . Officials in the PMO insisted no such request had been made, given already close contact with the White House. [Full Article...]

Fed hikes interest rates amid rising inflation

Fed hikes interest rates amid rising inflation Federal Reserve Chairman Jerome Powell and the Federal Reserve headquarters in Washington, D.C. The move was widely expected, as investors who bet on foreign exchange rates were forecasting a 100 per cent chance of a hike in recent days and weeks. [Full Article...]

Ford executive says may boost production in China to avoid tariffs

He was also asked if Ottawa needed a solid commitment from Washington that it won't make good on its threats to impose duties or tariffs on Canadian auto exports. "But we know Canada's interests are what we have to stand up for. we are looking for the right deal, not just for Canada but for the United States", he said at an event hosted by the Council on Foreign Relations in NY. [Full Article...]

Oil jumps, then pares gains as Trump pressures Opec again

Oil jumps, then pares gains as Trump pressures Opec again Brent crude prices rose to a almost four-year high above above $82 a barrel on Tuesday after OPEC and its allies said they would stick to the plan they agreed to in June. That marked a level beyond the last peak witnessed in November 2014. With oil prices hitting a four-year high of $82 per barrel, the U.S. leader slammed the OPEC oil cartel after Saudi Arabia and Russian Federation rejected calls... [Full Article...]

Donald Trump Just Got Laughed At By The Entire United Nations

Donald Trump Just Got Laughed At By The Entire United Nations Trump had stated that Iran's military budget rose by 40 percent since the nuclear deal was signed. For Iran , Trump reinforced his decision to abandon the 2015 nuclear treaty and reimpose sanctions on the country - and said there will be more sanctions to punish the regime. [Full Article...]

Brexit secretary Dominic Raab rejects rumours of snap general election

Former Brexit Secretary David Davis, who has indicated he will vote against the plans, said recently the ERG had about 30 to 40 members, with a core group of about a dozen. 'But what's also clear is that many in Labour, the Liberal Democrats and the SNP are trying to thwart Brexit at every step and seeking to exploit this moment for political gain. [Full Article...]


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