Money

India's Iranian Oil Imports Inch Up In September

India's Iranian Oil Imports Inch Up In September Brent crude fell $1.74 a barrel to a low of $81.35, its lowest since September 27, before recovering a little to trade around $81.70 by 0850 GMT. Brent strikes a 4 Year high of $86.74, in the last week. Iran exported 1. 1 million barrels per day (bpd) of crude in that seven-day period, Refinitiv Eikon data showed, Reuters reported. The weaker outlook comes as pressure is increasing on the O... [Full Article...]

OPEC sees weaker demand for its crude next year as rivals surge

OPEC sees weaker demand for its crude next year as rivals surge USA crude futures settled up less than 1 percent at $74.96 per barrel, reflecting the declining importance of the Gulf of Mexico in output because of the growth of production from the nation's onshore shale fields. The monthly report from the Organization of the Petroleum Exporting Countries showed the 15-nation producer group's output rose by 132,000 bpd in September to almost 32.8 million bpd. [Full Article...]

IKEA India plans to invest Rs 1,000 crore in Bengaluru

IKEA India plans to invest Rs 1,000 crore in Bengaluru Inter Ikea , which owns the Ikea concept and is the worldwide franchisor, also said the company plans to start selling its products in Mexico, Estonia, Ukraine, Puerto Rico, Oman, Luxembourg, Macau and the Philippines . We will contribute positively to the sta-te's development by creating employment opportunities, investing in skill/competence development, gro-wing local sourcing to meet India... [Full Article...]

Facebook says hackers accessed data of 29 million users

Facebook says hackers accessed data of 29 million users The hackers accessed name, email addresses or phone numbers from those 29 million accounts . There, you'll likely see one of the following two messages: You're in the clear, or your account was affected and here's what data the hackers might have accessed. [Full Article...]

Tesla: James Murdoch firming as chairman candidate

Tesla: James Murdoch firming as chairman candidate Murdoch, Tesla and 21st Century Fox were unavailable for comment, according to Reuters. Tesla Inc. and the U.S. Securities and Exchange Commission have put aside an insulting tweet by Elon Musk and asked a judge to accept a settlement of the fraud suit against the electric-car maker and its outspoken CEO. [Full Article...]

Trump says Fed 'out of control' but keeps Powell

Trump says Fed 'out of control' but keeps Powell Dallas Fed President Robert Kaplan said he still favors the central bank raising short-term interest rates three more times before deciding whether more increases will be necessary to keep the economy on an even keel. One reason why the Fed has been raising interest rates even with little sign of an inflation breakout is because the unemployment rate, which fell to 3.7 percent in September, is at ... [Full Article...]

Brexit deal 'within reach' says Barnier

Brexit deal 'within reach' says Barnier Full cabinet members concerned about the idea of an indefinite backstop include Andrea Leadsom, the leader of the Commons, and Esther McVey, the work and pensions secretary, who refused to specifically endorse May's Chequers blueprint for Brexit earlier on Thursday - although she insisted that she was "completely supportive of the prime minister ". [Full Article...]

Trump says Fed 'out of control' but won't fire Powell

Trump says Fed 'out of control' but won't fire Powell Mr Trump said he was not going to fire Fed chairman Jay Powell, but was just "disappointed" in the bank's policies. He reiterated those comments during an interview on Fox & Friends Thursday morning, claiming the central bank was being too "aggressive". [Full Article...]

USA senators trigger human rights probe over missing Saudi journalist

USA senators trigger human rights probe over missing Saudi journalist MSNBC host Chris Hayes suggested on Wednesday that President Donald Trump was being secretly bribed by Saudi Arabia in exchange for allowing them to get away with murdering their critics. He also called for at least a temporary halt in USA military support for the Saudi bombing campaign against Iranian-backed rebels in Yemen. The White House said Wednesday top Trump administration official... [Full Article...]

Dow drops 545 points as stock market slide continues

Dow drops 545 points as stock market slide continues Shares in Facebook , Amazon, Apple, Netflix and Google's parent company Alphabet - the so-called "FAANG" stocks that have driven U.S. markets to all-time highs recently - all fell in NY trading. "I just think it's natural to see bonds rally after a big equity move". In theory, banks should do better if the Fed keeps raising interest rates and bond yields climb higher since it will make their lo... [Full Article...]

Fix trade, don't destroy it, International Monetary Fund chief Christine Lagarde warns

Fix trade, don't destroy it, International Monetary Fund chief Christine Lagarde warns Prominent US academic Jeffrey Sachs was less diplomatic in his assessment of Trump's shepherding of American trade relationships, slamming the president's repeated claims that deficits with China and other nations meant Americans were being taken advantage of. [Full Article...]

Donald Trump Demands Answers In Missing Saudi Journalist Case

Donald Trump Demands Answers In Missing Saudi Journalist Case But he left Saudi Arabia in 2017, fearing censorship and possible detention at the hands of the Crown Prince Mohammad bin Salman. American officials on Wednesday sharply escalated their public demands on the government of Saudi Arabia to reveal more of what it knows about the disappearance of journalist Jamal Khashoggi , even as they stopped short of assigning blame to Riyadh for his murde... [Full Article...]

S&P tumbles 3 percent as USA yields soar, investors shun risk

Tom Cahill of Ventura Wealth Management said investors were also unnerved by remarks from luxury company LVMH of a crackdown on some goods in China amid the country's bitter dispute with the United States. That didn't happen Wednesday as stocks fell further late in the day. Adams said investors have concerns about their future profitability, too, making technology stocks more volatile in the l... [Full Article...]

Sears appears to be preparing for a long expected bankruptcy filing

Sears appears to be preparing for a long expected bankruptcy filing Sears, which was the world's largest retailer in the 1960s, has been struggling in recent decades, in the face of declining foot traffic as brick-and-mortar stores struggle to compete with online stores led by Amazon.com. The committee has been resisting the plan amid concerns that creditors and shareholders would sue over it being too favorable for Lampert. Sears's poor performance has always bee... [Full Article...]

'The Fed has gone crazy' with interest rate hikes

In comments to the press in Erie, Pennsylvania, Trump said, "I think the Fed is making a mistake". Powell said last week he expects to stick with the current path of gradual interest-rate hikes while monitoring risks in the economy. Just two hours before, CNBC reported that an unnamed senior White House official told its correspondent that, "This is a bull market correction". [Full Article...]

Investors underestimating risk of a financial shock, warns International Monetary Fund

Investors underestimating risk of a financial shock, warns International Monetary Fund The benchmark Shanghai Composite Index has already plunged 17.7 per cent this year, making the Chinese equity market the second worst stock market worldwide, only next to the Greek market, which has fallen 18.4 per cent. "An intensification of trade tensions and the associated further rise in policy uncertainty could dent business and financial market sentiment, trigger financial market volatility... [Full Article...]

Stocks have their worst day in months; Dow drops 800-plus points

U.S. stock indexes dived around 1 percent on Wednesday as worries over China and the impact of rising Treasury yields on global growth drove falls in luxury goods companies and chipmakers. The stock fell 15 percent to 50 cents. It was at just 3.05% early last week and 2.82% in late August. The yield on the 10-year Treasury note rose to 3.22 percent. [Full Article...]

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

China must take strong stimulus measures to support growth - state media The euro and sterling rose, underpinned by optimism for a Brexit deal, while the USA dollar lost ground against a basket of currencies even as US yields hovered near multiyear peaks. Telecoms equipment maker ZTE led tech shares downward on Monday, falling 8.14% to 16.81 yuan after a Bloomberg News report last week said China had inserted special microchips into computer goods exported to the U... [Full Article...]

Govt decides to approach International Monetary Fund

Brent crude, used to price global oils, rose 35 cents to $84.26 per barrel. They said the world organisation will also ask Islamabad to expand tax net in the country. Pressure on the lira saw inflation rates soar to almost 25 percent in September, marking the highest levels since President Erdogan came to power 15 years ago. [Full Article...]

India will break U.S. sanctions and keep importing Iranian oil

India's Oil Minister Dharmendra Pradhan speaks during an interview with Reuters in New Delhi , India, June 12, 2015. Saudi Arabia said last week it plans to raise production in November from October output of 10.7 million barrels per day (bpd), indicating Riyadh will be boosting its supply to the highest ever level. [Full Article...]


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