Markets

Markets Trump says market drop is 'correction that we've been waiting for'
Author: 0 Trump says market drop is 'correction that we've been waiting for'

Asked if he might dismiss the Fed chair, Trump replied: "No, I'm not going to fire him". Well, take that for what it's worth. In the United States all the major stock markets closed down after similar drops on Wednesday. So what caused Wall Street's worst day in eight months, just days after US indices touched record highs? Powell's goal is to extend the second-longest US economic expansion on record by moving interest rates up just quickly enough to prevent overheating, but not so ...

Markets International Monetary Fund cuts global growth forecasts
Author: 0 International Monetary Fund cuts global growth forecasts

The fund also slightly lowered its forecast for Japan's economy to 1.1 percent growth in 2018, down 0.1 of a percentage point from an April estimate, but maintained a prediction for a 0.9 percent Japanese expansion in 2019. Geopolitical strains can already been seen in both developing and developed economies. But higher United States interest rates have also helped send emerging market currencies into a tailspin, as countries that borrowed heavily in dollars race to pay back debt.

Markets UK PM Theresa May says Brexit deal is close - Financial Times reports
Author: 0 UK PM Theresa May says Brexit deal is close - Financial Times reports

Under pressure from all sides, Theresa May told journalists at Downing Street reception that talks on the key issue of the Irish border were likely to continue until November, while cabinet ministers who met with May on Thursday evening were cited by the Financial Times as saying the border issue was close to being settled.

Markets Mnuchin, Lagarde Keep Calm and Carry On Amidst Stock Dive
Author: 0 Mnuchin, Lagarde Keep Calm and Carry On Amidst Stock Dive

The tariffs stem from the Trump administration's demands that China make sweeping changes to its intellectual property practices, rein in high-technology industrial subsidies, open its markets to more foreign competition and take steps to cut a $375 billion USA goods trade surplus.

Markets Wall Street Yo-Yos in Early Trading Thursday
Author: 0 Wall Street Yo-Yos in Early Trading Thursday

US market indexes continued their risk-off selling with all of the major indexes closing with losses. Alibaba dropped 4.1 percent after Morgan Stanley and Raymond James cut their near-term profit estimates on the Chinese e-commerce company, citing a softer economic environment in China.

Markets White House says economy 'incredibly strong' after stock-market dive
Author: 0 White House says economy 'incredibly strong' after stock-market dive

I think the Fed has gone insane", Trump told reporters as he arrived for a campaign rally ahead of the USA mid-term elections. "They're so tight. I think the Fed has gone insane", Trump said. USA long-dated Treasury yields rose again in extension of a trend over the last few weeks fuelled by solid USA economic data that reinforced expectations of multiple interest rate hikes over the next 12 months.

Markets Pakistan says it will seek International Monetary Fund bailout as reserves dwindle
Author: 0 Pakistan says it will seek International Monetary Fund bailout as reserves dwindle

Citing the impact of USA taxes on Chinese imports, however, the International Monetary Fund shaved the outlook for China next year to 6.2 percent, which would be the country's slowest growth since 1990. "The possibility that China and US resolve their disagreements would be a significant upside to the forecast", Obstfeld said. As interest rates rise in advanced economies, prompting investors to take their money in search of higher returns, the IMF recommended emerging economies take ...

Markets Trump Says Fed Moving Too Fast With Interest-Rate Increases
Author: 0 Trump Says Fed Moving Too Fast With Interest-Rate Increases

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 fall of at least 10 per cent from the high point of the last 52 weeks. U.S. long-dated Treasury yields rose again in extension of a trend over the last few weeks fuelled by solid USA economic data that reinforced expectations of multiple interest rate hikes over the next 12 months.

Markets Jamal Khashoggi was planning pro-democracy group before he disappeared
Author: 0 Jamal Khashoggi was planning pro-democracy group before he disappeared

U.S. intelligence officials reportedly intercepted communications that the Saudis discussed a plan to lure and capture Khashoggi before his disappearance. Cengiz did not see him re-emerge, although Saudi officials said he left the consulate shortly after visiting. A Turkish security source had previously told Reuters that the 15 Saudis, including some officials, left Turkey later the same day.

Markets Photos allegedly show 'assassination squad' sent for Jamal Khashoggi
Author: 0 Photos allegedly show 'assassination squad' sent for Jamal Khashoggi

Worldwide media advocacy group Reporters Without Borders on Wednesday called for an independent global investigation into the fate of Jamal Khashoggi - the Saudi journalist who has been missing since October 2 - saying his disappearance has come amid "a particularly harsh and opaque crackdown on Saudi journalists and bloggers".

Markets Will release of $109bn reserve boost China’s flagging economy?
Author: 0 Will release of $109bn reserve boost China’s flagging economy?

Lenovo was 1.6 percent lower in Hong Kong on Monday, and ZTE fell 2.5 percent. The "very timely" RRR cut is big enough to help boost confidence in the economy, said Xu Hongcai, deputy chief economist at the China Centre for International Economic Exchanges, a Beijing think tank.

Markets United States economists win Nobel prize for work on climate and sustainable growth
Author: 0 United States economists win Nobel prize for work on climate and sustainable growth

In the 1990s, he created an integrated assessment model, which is a quantitative model that describes the global relationship between the climate and the economy. Seas would rise almost 4 inches (0.1 meters) less. While many developed economies have adopted a carbon tax, the United States has not. Many economists have since endorsed the concept of taxing carbon and using this financial lever to influence societal behavior.

Author: 0 Saudi Arabia unable to replace lost Iranian oil - Iran’s oil minister

USA sanctions will target Iran's crude oil exports from November 4, and Washington has been putting pressure on governments and companies worldwide to cut their imports to zero. In the previous round of USA sanctions on Iran from 2012 to 2015, India continued to purchase Iran's oil although it was forced to dramatically reduce its purchases to protect its wider exposure to the us financial system.

Markets Inflation in PHL to ease — International Monetary Fund long-term outlook
Author: 0 Inflation in PHL to ease — International Monetary Fund long-term outlook

Threats include a further inflaming of the trade war between the USA and countries including China, and a sharper-than-expected rise in interest rates , which would accelerate capital flight from emerging markets . Good morning, and welcome to our rolling coverage of the world economy , the financial markets, the eurozone and business. Previous forecast rate for 2018, announced in July, was 4.2 percent.

Markets World stocks tumble after International Monetary Fund slashes economic growth forecast
Author: 0 World stocks tumble after International Monetary Fund slashes economic growth forecast

The euro area will expand 2 per cent this year, down 0.2 point from July, as a result of weaker than expected growth in the first half of the year. As stakeholders look for a categorical position of Khan's administration in going or not going to the IMF for financial assistance or the arrangement of funds from alternative resources, the country's stock market remains in a tight spot due to uncertainty.

Markets Apple tells Congress it found no signs of hacking attack
Author: 0 Apple tells Congress it found no signs of hacking attack

Apple originally said that it "conducted rigorous internal investigations based on [Bloomberg's] inquiries and each time we have found absolutely no evidence to support any of them". Both Elemental and Super Micro have also strongly denied the Bloomberg report. Like our partners in the United Kingdom, the National Cyber Security Centre , at this time we have no reason to doubt the statements from the companies named in the story.

Author: 0 US Actively Considering Waivers on Iran Oil Sanctions

Buyers of the superlight crude are under more pressure than importers of "regular" crude since there are few alternate suppliers. However, according to Alice G. White House National Security Advisor John Bolton said only last week that the administration wanted to avoid all waivers and see Iranian oil and gas exports entirely staunched, but that it might not be able to achieve that aim.

Markets Official says S Arabia unable to replace Iran’s oil
Author: 0 Official says S Arabia unable to replace Iran’s oil

United States crude exports can not increase rapidly enough to replace Iranian barrels, until the Permian pipeline bottleneck eases in mid-2019. On Thursday, Brent futures fell $1.65 a barrel (1.9 per cent) to $84.64 a barrel and United States futures were down 2.7 per cent at $74.33 a barrel.

Markets Labor Dept.: Unemployment, job growth down in September
Author: 0 Labor Dept.: Unemployment, job growth down in September

Analysts polled by Refinitiv (formerly Thomson Reuters) forecast that the US economy would add 185,000 jobs in September with the unemployment rate ticking down to 3.8 percent. The September results were 25 percent below what economists had forecast. As business demand for workers continues to rise, attractive wages and benefits are luring a growing number of persons from the sidelines back into the workforce (See " Rising US prime working-age labor participation ").

Markets RBI keeps repo rate constant at 6.5%
Author: 0 RBI keeps repo rate constant at 6.5%

The headline inflation for August softened to 3.69 per cent in August as 4.17 per cent in July. But the odds of the RBI following their footsteps seems to be constrained by the central bank's 4% (+/- 2%) inflation mandate, a potential slowdown in growth due to the ongoing trade war, and troubles in the financial system.

Markets USA determined to help India find a substitute for Iranian oil
Author: 0 USA determined to help India find a substitute for Iranian oil

Global benchmark Brent crude oil futures were at $85.03 per barrel up 5 cents from their last close, and not far off the $85.45-peak reached in the previous session, the highest since November 2014. The global benchmark crude traded at a $10.33 premium to WTI for the same month. Originally, the plan had apparently been to officially announce a production increase of 500,000 barrels per day, but this met with opposition from a number of countries, including Iran.

Markets Second referendum to be ‘politicians vote: UK PM
Author: 0 Second referendum to be ‘politicians vote: UK PM

His comments, at the autumn conference of Prime Minister Theresa May's ruling Conservative Party, sparked predictable outrage from other European leaders. But she also declared an "end to austerity". Her speech will come a day after former foreign secretary Boris Johnson received a rapturous ovation from 1,500 Tories as he called on May to "chuck Chequers " during a packed out fringe meeting.

Markets Trade deal largely spares Canada, Mexico from any Trump auto tariffs
Author: 0 Trade deal largely spares Canada, Mexico from any Trump auto tariffs

Inside the United States-Mexico-Canada Agreement (USMCA ) is a provision that allows any member country to essentially veto free trade agreements with non-member countries by dissolving the USMCA to form a bilateral agreement instead. Once six of the 11 parties ratify, the trade zone enters into force among them. There was also an agreement to protect 2.6 million exports a year of Canadian vehicles to the United States from possible USA tariffs of 25% that Mr Trump may impose.

Markets N.L. dairy industry feels let down by new trade deal
Author: 0 N.L. dairy industry feels let down by new trade deal

But now we might be able to only accommodate one more plant". Others said even though Canada now has agreements with all the other major dairy producers, notably Australia, New Zealand, the USA and European countries, that USMCA includes a clause ordering a review after six years - meaning there is no guarantee the government won't face fresh pressure in the near future to open up Canadian markets even further.

Markets Toyota recall: millions of potentially faulty hybrid vehicles
Author: 0 Toyota recall: millions of potentially faulty hybrid vehicles

However, the carmaker said that in "rare situations", the fault could cause vehicles to stall when entering "failsafe" driving mode. "While power steering and braking would remain operational", Toyota says, "a vehicle stall while driving at higher speeds could increase the risk of a crash".

Markets Elon Musk mocks U.S. financial watchdog after settlement
Author: 0 Elon Musk mocks U.S. financial watchdog after settlement

The SEC declined to comment on Musk's tweet . Here he's suggesting that the agency-whose mission is to protect investors from CEO misconduct-is actually harming the value of Tesla's stock by enforcing securities laws against Musk and Tesla.

Author: 0 Vice President Mike Pence paints China as enemy in USA election

Pence said Beijing, with an eye not only to the congressional elections but also to Trump's 2020 re-election bid, had "mobilised covert actors , front groups, and propaganda outlets to shift Americans' perception of Chinese policies" and was targeting its tariffs to hurt states where Trump has strong support.

Markets China slams 'ridiculous' United States election meddling charges, East Asia News & Top Stories
Author: 0 China slams 'ridiculous' United States election meddling charges, East Asia News & Top Stories

He provided the same example previously tweeted by the president - a four-page, paid advertisement critical of Mr. Trump's trade policies that appeared in the Des Moines Register . Pence also accused China of "reckless harassment" because of an incident on Sunday in which a USA destroyer, the Decatur , traveled within 12 nautical miles of Gaven and Johnson Reefs in the Spratly Islands in the disputed South China Sea.

Markets Petrol, diesel prices cut by Rs 2.50 after excise reduction
Author: 0 Petrol, diesel prices cut by Rs 2.50 after excise reduction

He said that the central government will reduce excise duty by Rs 1.5 while oil companies will absorb the remainder. BJP-ruled Gujarat , Tripura and Chhattisgarh governments have also announced a similar reduction in oil prices. Brent, the benchmark for more than half the world's oil, has touched Dollars 86 per barrel mark, the highest in four years. The cost of diesel was also hiked by 20 paise with the price per litre reaching Rs 75.45.

Markets Rupee falls below 73 for first time as crude approaches $85
Author: 0 Rupee falls below 73 for first time as crude approaches $85

The home currency opened at 73.25 per dollar and touched a fresh low of 73.42 in morning trade. Traders were concerned that a rise in United States interest rates and expensive oil could lead to fiscal slippage, increase inflationary pressures and raise the chances of the Reserve Bank of India (RBI) increasing interest rates in its monetary policy review later this week.

Markets How is 'new NAFTA' different? A trade expert explains
Author: 0 How is 'new NAFTA' different? A trade expert explains

The United States and China are locked in a spiraling trade war that has seen them level increasingly severe rounds of tariffs on each other's imports. imposed midnight deadline to settle differences, with both sides making concessions to seal the deal. "We're going to have a little conference - the president will preside over it - we will have big internet companies, big social media companies, search companies", he said.