Finance

Will Try to Uphold Autonomy & Credibility of RBI: Shaktikanta Das

Will Try to Uphold Autonomy & Credibility of RBI: Shaktikanta Das He took charge on Wednesday. "It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years", read his statement on the Reserve Bank of India (RBI). Das noted inflation targeting and maintaining the growth trajectory as part of his agenda. But we have to be very watchful of developments. Patel's resignation came nearly a year before his tenure wa... [Full Article...]

Virgin Galactic successfully launches tourism rocket ship into space for first time

Virgin Galactic successfully launches tourism rocket ship into space for first time However it will fall short of crossing the Karman line, which at 100 kilometres high, represents the boundary between Earth's atmosphere and space. Virgin Galactic CEO George Whitesides noted that recent research favors the lower altitude. [Full Article...]

United States soybeans extend gains amid continued trade optimism

United States soybeans extend gains amid continued trade optimism ING said the Huawei case had made it increasingly obvious that the trade war was about technology as much as anything else, and there were also reports that the United States would release new evidence this week on Chinese hacking and economic espionage. [Full Article...]

Opec agrees 1.2m bpd oil output cut

Opec agrees 1.2m bpd oil output cut OPEC is holding talks with other oil-producing nations including Russian Federation at its headquarters in Vienna, Austria. "This will require us to change the strategy we took in June 2018", Mazrouei said. Russia , after setting a record for its modern history of more than 11 million barrels a day in October, has been willing to reduce national oil production since early Friday. [Full Article...]

China Says It Didn't Know Countries Have Had Security Problems With Huawei

China Says It Didn't Know Countries Have Had Security Problems With Huawei Meng Wanzhou , Huawei's global chief financial officer, was arrested in Canada on 1 December and faces extradition to the United States, which alleges that she covered up her company's links to a firm that tried to sell equipment to Iran despite sanctions, according to Reuters . [Full Article...]

Snow storm hits the Southeast

Snow storm hits the Southeast Airlines canceled more than 1,000 flights and police have responded to hundreds of weather-related traffic accidents since the storm hit over the weekend. Roy Cooper said Monday that the worst of the storm had passed most of the state but residents - particularly motorists - should keep watch for risky conditions. [Full Article...]

Tesla's Elon Musk on '60 Minutes': 'I do not respect the SEC'

Tesla's Elon Musk on '60 Minutes': 'I do not respect the SEC' Robyn Denholm, an Australian telecommunications executive, was appointed chairwoman of Tesla's board last month, replacing Musk as part of as part of a securities fraud settlement with USA government regulators. The stock is up 15 percent since the start of the year, valuing the company at $61.4 billion. Musk also said he doesn't "really want to try to adhere to some CEO template". [Full Article...]

China Demands the Release of Huawei's CFO

China Demands the Release of Huawei's CFO Analysts have warned that the arrest of Huawei's Chief Financial Officer Meng Wanzhou may have major repercussions for American tech companies. There were also losses for other tech firms in the region, with Sony down three percent in Tokyo and Samsung nearly two percent lower. [Full Article...]

Huawei CFO arrested in Vancouver as U.S. seeks her extradition

Huawei CFO arrested in Vancouver as U.S. seeks her extradition Both The Global And Mail and South China Morning Post previously reported that Meng had been arrested on suspicion of violating the US's trade sanctions on Iran. Meng is also deputy chairman of the board and the daughter of company founder Ren Zhengfei. The statement added the embassy was closely following developments in the case and would "take all measures to resolutely protect the legi... [Full Article...]

Trump claims 'BIG leap forward' in China trade talks, but details unclear

Trump claims 'BIG leap forward' in China trade talks, but details unclear Over the weekend, Trump had boasted that he had reached a deal with China's President Xi Jinping , although details remained unclear into late Tuesday. Per the president's post, a delegation of USA officials will hold negotiations with the Chinese side. As part of that the US said it had agreed to hold off on raising tariffs January 1 while negotiations took place. [Full Article...]

Trump to kill existing NAFTA text to push Congress to approve USMCA

Trump to kill existing NAFTA text to push Congress to approve USMCA Federal Finance Minister Bill Morneau says Canada takes seriously comments made by U.S. President Donald Trump about withdrawing from the North American Free Trade Agreement . Republicans, meanwhile, are angry over the LGBTQ protections in Section 23 of the USMCA , which call on the three countries to adopt policies for sexual orientation and gender identity, "in promotion of equality and ... [Full Article...]

Fed: Rate hike 'warranted soon'

Fed: Rate hike 'warranted soon' Any such slowdown - or pause - in its rate hikes would be welcome news for a stock market that has been battered by fears that the Fed's continued credit tightening could end the long bull market. The possibly dovish shift in language on Wednesday came as US President Donald Trump stepped up attacks on Mr Powell, criticising the Fed's rate hikes as undercutting his economic and trade policies. [Full Article...]

Powell Opens Door to Possible Pullback in Fed Rate-Hike Outlook

Powell Opens Door to Possible Pullback in Fed Rate-Hike Outlook The president has blamed the Fed for the steep two-month fall in the stock market and the possibility that his efforts to boost growth with a major tax cut will be thwarted by rising interest rates. Analysts read that as a suggestion that Powell intends to be more cautious about hikes in rates. Powell said that "there is no preset policy path" for future rate hikes and the current level for the ... [Full Article...]

OPEC Meeting Comes as Oil Prices Are Plummeting

OPEC Meeting Comes as Oil Prices Are Plummeting EST, ahead of expiry. International Brent crude oil futures were at $59.68 per barrel at 0742 GMT, up 17 cents, or 0.3 percent, from their last close. "At the heart of the malaise are concerns that OPEC+ will not do enough to address the current oversupply", said Stephen Brennock, analyst at London brokerage PVM Oil. [Full Article...]

Deutsche Bank raided over Panama Papers link

Deutsche Bank raided over Panama Papers link About 170 police officers, investigators and prosecutors swooped in on the bank's offices in Frankfurt and premises in nearby Eschborn and Gross-Umstadt at 10 a.m., seizing electronic and paper records. Prior to that, other bank sources had delivered more dismissive comments, chief strategist Ulrich Stephan in November a year ago saying he "would simply not recommend (Bitcoin) to the everyday ... [Full Article...]

Microsoft dethrones Apple as the most valuable USA company

Microsoft dethrones Apple as the most valuable USA company As per Business Insider , the move was a surprising one as less than two months ago Microsoft's market value reached at $887 billion, whereas Apple's reached a peak above $1.12 trillion, marking itself as the first United States company with a $ 1 trillion valuation, but soon lost the status. [Full Article...]

Americans could handle 10% price hikes from tariffs on iPhones and laptops

Americans could handle 10% price hikes from tariffs on iPhones and laptops Pres. Trump told the Wall Street Journal , that he's prepared to put tariffs on all products being shipped from China that don't already have them. "Combined with last week's harsh report from the United States trade representative, investors have only the flimsiest hope that the Trump-Xi meeting in Argentina will amount to more than a hill of soybeans". [Full Article...]

General Motors to slash 14,700 jobs in North America

General Motors to slash 14,700 jobs in North America Trump went on threaten to cut all GM subsidies - including those for electric vehicles. Trump said he wasn't impressed with GM officials' explanation that the company is closing the OH plant because of poor sales of the model it manufactures. [Full Article...]

What you need to know about the crucial EU Brexit summit

What you need to know about the crucial EU Brexit summit The British government released a letter from the British ambassador to the EU, Tim Barrow, to the head of Tusk's secretariat spelling out that Britain would make no presumption that any future EU-U.K. May was to meet with European Commission President Jean-Claude Juncker and Council President Donald Tusk on Saturday evening. The deal sets out the terms of Britain's departure on March 29 and... [Full Article...]

Range Rover goes mild hybrid with technology-focused second-generation Evoque

Range Rover goes mild hybrid with technology-focused second-generation Evoque Land Rover even plans to offer some kind of electric or hybrid version for its entire lineup by 2020. Land Rover says rear passengers get 20mm extra knee room, while bootspace has been increased by 10 per cent to 591 litres when the rear seats are in place. [Full Article...]


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