Economy

Economy Jackpot bonanza: big lottery prizes up for grabs in Canada, U.S.
Author: 0 Jackpot bonanza: big lottery prizes up for grabs in Canada, U.S.

In the U.S., Tuesday night's Mega Millions draw features a top prize of US$654 million - the fourth-largest jackpot in American history. There hasn't been a Mega Millions jackpot victor since it reached $543 million in July. Tuesday's drawing is close to breaking the record for the largest-ever prize in the game's history. The cash option, which is favored by almost all winners, is $372 million.

Economy Sears bankruptcy: What does it mean for shoppers?
Author: 0 Sears bankruptcy: What does it mean for shoppers?

For now, Sears will be run by an Office of the CEO, and independent directors will oversee the restructuring. Lampert will remain the company's chairman. As part of the transition, Sears will also undergo a series of leadership and board changes. Sears stock is down 89 percent year-to-date. "Sears Roebuck when I was growing up was the big deal".

Economy Air India plane smashes into wall and continues flying
Author: 0 Air India plane smashes into wall and continues flying

Media reports claim that Lobo has suffered a fracture in her leg. Reports add that the incident took place while she was boarding the flight. Flight AI864 was originally scheduled to depart Mumbai for Delhi at 7am, but took off later at 8.30am.

Economy Sears files for Chapter 11 bankruptcy
Author: 0 Sears files for Chapter 11 bankruptcy

A store closing sale sign is posted next to a Sears logo in New Hyde Park, New York, U.S., October 10, 2018. Sears is planning to seek bankruptcy protection in NY as soon as Sunday night, though a court filing could slip into Monday , the sources added, asking not to be identified because the negotiations are confidential.

Economy Mnuchin says U.S. market 'correction' isn't surprising
Author: 0 Mnuchin says U.S. market 'correction' isn't surprising

By pitting himself against the Fed, Trump is raising the stakes of a monetary-policy error. Trump's use of the word "correction" to describe the selloff could be significant. Mr. Trump often points to the stock market in touting the economic successes of his administration. Simply put, stocks are sinking as Treasury rates spike.

Economy Patisserie Valerie Finance Chief Arrested, Company Faces Uncertain Future
Author: 0 Patisserie Valerie Finance Chief Arrested, Company Faces Uncertain Future

The company's parent firm, Patisserie Holdings, said in a stock market announcement on Friday that Chris Marsh, who was suspended from his role earlier this week, has since been released. "We are determined to understand the full details of what has happened and will communicate these to investors and stakeholders as soon as possible".

Economy UK, France and Germany call for 'credible' Khashoggi probe
Author: 0 UK, France and Germany call for 'credible' Khashoggi probe

A Gulf banker said the Khashoggi case, combined with other events, had become a significant factor for some potential investors in Saudi Arabia and that her bank was receiving many queries from foreign clients on how to interpret it. WCBS 880's Steve Scott recently spoke with U.S. Sen. The Republic of Yemen affirmed its stance and full solidarity with the Kingdom of Saudi Arabia against all those who attempt to undermine it, declaring its total rejection of any attempt to breach the ...

Economy Are Bitcoin Whales Responsible for Price Volatility
Author: 0 Are Bitcoin Whales Responsible for Price Volatility

Almost all major cryptocurrencies and tokens such as Ripple ( XRP ), Bitcoin Cash (BCH) and Ethereum (ETH) suffered losses of between 5 and 10 percent. Interestingly, most of these whales entered the market in 2017, indicating the wallets and could be actively-managed crypto hedge funds as they saw an uptick previous year.

Economy Trump's Threats Over Missing Journo Send Saudi Stock Market Into Record Plunge
Author: 0 Trump's Threats Over Missing Journo Send Saudi Stock Market Into Record Plunge

U.S. President Donald Trump said in a CBS interview on Saturday that there would be " severe punishment " for Saudi Arabia if it turns out that missing Saudi journalist Khashoggi was killed in the Saudi consulate in Istanbul . "It's a tremendous order from an economic development standpoint", Trump said. In addition to the Dollars 110 billion arms deal, Trump said the Saudis are going to invest $450 billion in the United States through their companies.

Economy IEA sees world oil market 'adequately supplied'
Author: 0 IEA sees world oil market 'adequately supplied'

Worldwide benchmark Brent crude rose 76 cents to $81.02 a barrel by 0830 GMT, having dropped by 3.4 percent on Thursday. Output, which includes crude oil, natural gas liquids, biofuels and refinery processing gains, was 2.3 million barrels above the same period previous year and 1.3 million barrels a day higher than the second quarter.

Economy Plug-In Hybrid Car Grant SCRAPPED
Author: 0 Plug-In Hybrid Car Grant SCRAPPED

Clean vehicle grants will end for Category 2 and Category 3 vehicles sold after November 12, 2018, while the grant for Category 1 vehicles is only reduced. "A new grant rate for category 1 vehicles will be set at £3,500 to reflect the recent reductions in the price of electric vehicles." Quoted in Fleet News , ACFO chairman John Pryor said: "The Government's decision to reduce financial support for plug-in vehicles is, quite frankly bonkers".

Economy Mortgage rates leap to 7-year highs; 30-year at 4.90 percent
Author: 0 Mortgage rates leap to 7-year highs; 30-year at 4.90 percent

FHA-backed 30-year fixed-rate mortgages also reached a high since April 2011, 4.98 percent from 4.95 percent. Would-be homebuyers have another reason to be concerned: mortgage rates rose to almost 5 percent, the highest in more than seven years and the biggest weekly increase in two years.

Economy Chinese stocks drop to four-year low
Author: 0 Chinese stocks drop to four-year low

HONG KONG - Hong Kong stocks closed up 535.12 points, or 2.12 percent, to 25,801.49 points on Friday. Some 336,995 transactions were booked, involving 7.4 billion copies of shares with a value of 7.2 trillion rupiah (about 473.6 million U.S.

Economy Woman thrown off flight with her 'emotional support' squirrel
Author: 0 Woman thrown off flight with her 'emotional support' squirrel

The woman refused to get off the flight, Frontier said, and Orlando police stepped in. Jokes aside about flying squirrels, nuts served on planes and bushy-tailed passengers, squirrels and planes do not actually mix. In the end the flight was delayed for two hours. In a well-publicized incident in January, a woman tried (and failed) to bring her emotional support peacock aboard her United flight.

Economy BMW Ups the Ante in China with Huge Investment Plan
Author: 0 BMW Ups the Ante in China with Huge Investment Plan

SHENYANG, Oct. 11 (Xinhua) - The German carmaker BMW announced Thursday that they would extend the contract term of the joint venture BMW Brilliance Automotive (BBA) in northeast China and to increase investment for its production capacity expansion.

Author: 0 USA wants deal with Japan to avoid competitive currency devaluations

U.S. Treasury Secretary Steven Mnuchin downplayed the level of alarm, saying he doesn't lose sleep over the possibility that China might step up its sales of U.S. "The recovery is increasingly uneven, and some previously identified risks have partially materialised", the communique said, referring to threatened tariffs.

Economy High Yield ETFs in Spotlight as Treasury Yields Rise
Author: 0 High Yield ETFs in Spotlight as Treasury Yields Rise

The 10-year yield crept up to a fresh seven-year high of 3.25 percent , above the S&P 500's 1.81 percent dividend yield and offering investors a viable risk-free alternative to a suddenly volatile stock market, CNBC explained. The S&P 500 index fell 15 points, or 0.6 percent, to 2,864. Investors should go long at the prevailing level of 2.90% with a view toward a mid-2019 level under 2.75%, he said at the time.

Economy Longest ever direct flight lands at Newark Liberty Int'l Airport
Author: 0 Longest ever direct flight lands at Newark Liberty Int'l Airport

United Airlines offers non-stop flights from Singapore to San Francisco, while other carriers like Hong Kong's Cathay Pacific Airways Ltd and Taiwan's EVA Airways Corp compete with one-stop Singapore-US offerings. Actually, I'm just realizing that all of the hype about this being the world's longest flight that I've been reading about for two days is actually a fib.

Economy No Mega Millions Winner, Jackpot Jumps To $654 Million
Author: 0 No Mega Millions Winner, Jackpot Jumps To $654 Million

An in-state Megabucks Doubler drawing will also take place tomorrow for an estimated $3.3 million in winnings. The estimated Mega Millions $548 million prize would be the largest jackpot in more than nine months. A Mega Millions lottery ticket is seen in NY in this July 1, 2016 file photo. The odds of winning both games? The potential payout on Saturday is the 24th-highest in the game's history.

Economy Oil Prices Fall To Two-week Lows
Author: 0 Oil Prices Fall To Two-week Lows

The minister further said that India was discussing its options to buy Iranian oil with all authorities. Late last week, the United States hinted that it was at least considering waivers. The cuts represent 718,877 barrels per day of oil production. They earlier touched their lowest since September 27 at $81.35, after closing 2.2 per cent lower on Wednesday.

Economy Opec says oil market well supplied, wary of 2019 surplus
Author: 0 Opec says oil market well supplied, wary of 2019 surplus

Gulf of Mexico crude production. Brent crude futures fell $2.10, or 2.5 per cent, to $80.99 a barrel. West Texas Intermediate for November delivery slid $1.83 to $71.34 a barrel at 11:27am on the New York Mercantile Exchange. Petroleum prices slumped to two-week lows on Thursday as global stock markets fell, as a report, showing US crude inventories rising more than expected, weighed on investor sentiment.

Economy Biz leaders fight Trump on Fed critique
Author: 0 Biz leaders fight Trump on Fed critique

In a brief interaction with reporters and later in comments to Fox News, Trump said the USA central bank was "too aggressive" in raising interest rates. Kudlow said the Fed was managing 'the transition from ultra, ultra easy money.to something more normal, ' by raising rates gradually. During an event earlier Wednesday amid the sell-off, Trump and his top economic adviser, Larry Kudlow, said they believed the US economy was strong.

Economy Watch Boston Dynamic's Humanoid Robot Do Parkour Like A Pro
Author: 0 Watch Boston Dynamic's Humanoid Robot Do Parkour Like A Pro

Is it too much to ask that we get some eye candy from our soon to be apocalyptic overlords? In a short note accompanying the video the company states, "Atlas uses computer vision to locate itself with respect to visible markers on the approach to hit the terrain accurately ".

Economy Facebook says hackers accessed data of 29 mn users
Author: 0 Facebook says hackers accessed data of 29 mn users

On Friday, the social network said fewer users were affected in a security breach it disclosed two weeks ago than originally estimated - almost 30 million , down from 50 million. This pool of 400,000 users allowed them to steal access tokens from the full 30 million , he continued. Upon request from the FBI, Facebook declined to offer any information as to who might be behind the attack, or whether users in specific regions were targeted.

Economy IKEA India to invest ₹3000 cr for 3 new fulfilment centres
Author: 0 IKEA India to invest ₹3000 cr for 3 new fulfilment centres

Bengaluru , get hyped because we're soon to be home to IKEA's third store in India! "By 2025, we have the potential to reach and interact with 3 billion people", Inter Ikea Group chief executive Torbjörn Lööf said. The company will also be launching its e-commerce operations by March next year. The company is also exploring selling its products on external online marketplaces and Loof said he hopes to introduce a collaboration with a digital shopping platform in the coming year.

Economy Facebook's United Kingdom tax bill triples in wake of profits
Author: 0 Facebook's United Kingdom tax bill triples in wake of profits

Facebook had booked a 7.5% increase in pre-tax profits to £62.8m on revenues of nearly £1.3bn - up nearly a third on 2016. Labour MP Margaret Hodge, who chairs the all-party group on responsible tax, said it was "absolutely outrageous that Facebook's United Kingdom tax bill is 0.62% of their revenue".

Economy China's trade surplus with the USA hit record highs in September
Author: 0 China's trade surplus with the USA hit record highs in September

September marked the second straight record Chinese monthly trade surplus with the United States after August's $31 billion. The direct impact and indirect impact of the ongoing trade frictions is "generally controllable", Customs department spokesman Li Kuiwen said Friday.

Economy Trump Warns China Nuclear Tech Exports Will Shrink
Author: 0 Trump Warns China Nuclear Tech Exports Will Shrink

The move is part of the wide push from Washington against Beijing , in which the latest episode was the slapping of tariffs on US$250 billion worth of Chinese products. Chinese exports to the American market rose by 13 percent over a year to $46.7bn, down from August's 13.4 percent growth, customs data showed on Friday.

Economy PC market flat in Q3, Microsoft becomes a top five U.S. vendor
Author: 0 PC market flat in Q3, Microsoft becomes a top five U.S. vendor

Lenovo was No. 1 in global PC shipments in the third quarter. Acer and Apple trade places depending on the ranking ( Apple is fifth according to Gartner and fourth according to IDC). In brief: The PC market had its most successful quarter in six years during Q2, and while growth was flat during the last quarter, it still exceeded expectations.