Economy

Economy Tesla's Elon Musk says British cave rescuer's defamation case should be dismissed
Author: 0 Tesla's Elon Musk says British cave rescuer's defamation case should be dismissed

He said he became a target after rescue divers declined to use a mini-submarine offered by Musk's SpaceX rocket company. The device was not used and in the interview, Mr Unsworth called it a " PR stunt ". Unsworth, who lives in Hertfordshire County north of London, sought at least $75,000 USA in compensatory damages plus unspecified punitive damages in his September 17 lawsuit .

Economy China Promotes Plans for January Meeting with U.S.
Author: 0 China Promotes Plans for January Meeting with U.S.

Top US officials who have spearheaded the trade negotiations thus far - including US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin - will, however, not be making the trip. While it's positive that USTR will be leading the delegation next month, the two sides are not on track to make the kind of large-scale breakthrough that the Trump administration is seeking, according to Derek Scissors, a China expert at the American Enterprise Institute.

Economy Volkswagen is preparing a competitor to the Land Rover Defender
Author: 0 Volkswagen is preparing a competitor to the Land Rover Defender

The 2020 Land Rover Defender will be the company's most capable off-roader yet, officials say. With each successive design - from the Series 1, 2, and 3 Land Rover vehicles, to the later "Defender" branded vehicles - changes were largely evolutionary, rather than revolutionary.

Economy Sears to close 80 more stores ahead of possible bankruptcy
Author: 0 Sears to close 80 more stores ahead of possible bankruptcy

According to Newsweek, Sears has less than 24 hours for a bidder to save the store from complete liquidation. The accompanying Sears Auto Center at these Sears stores will also be closing. Sears filed for Chapter 11 bankruptcy protection. Spokespeople for Sears and Lampert declined to comment Thursday. The company had almost 700 stores at the time of its bankruptcy filing.

Economy Wells Fargo agrees to pay $575 million to resolve state investigations
Author: 0 Wells Fargo agrees to pay $575 million to resolve state investigations

Two years ago, Wells Fargo agreed to pay $190 million to settle federal government claims that the bank created phony customer account, and improperly referred and charged customers for various financial services products. In May, Wells Fargo agreed to pay $480 million to settle a class-action securities fraud lawsuit brought by investors who alleged the bank made misstatements and omissions in its disclosures about sales practices.

Economy Sears at CherryVale Mall to close in March
Author: 0 Sears at CherryVale Mall to close in March

The company had 68,000 workers at the time of its bankruptcy filing. Lampert could use his own cash to backstop the $1.8 billion, but it remains unclear whether he is willing to do so. Last week, US Bankruptcy Court Judge Robert Drain gave initial approval for the $60 million sale of Sears' home improvement business to Service.com. December also brought news of a rare bright spot: For the first time in years, the retailer reported higher quarterly same-store sales as customers visited ...

Economy United States holiday retail sales strongest in six years
Author: 0 United States holiday retail sales strongest in six years

The data also indicated that consumer confidence was not dented by recent volatility in the US stock markets and worries over slowing global growth . "Many retailers are benefiting from the increase in online sales, but none are benefiting as much as Amazon is", said Joel Bines, global co-head of retail consulting firm AlixPartners.

Economy Dow Notches Historic One Day 1000 Point Gain in Dramatic Rebound
Author: 0 Dow Notches Historic One Day 1000 Point Gain in Dramatic Rebound

The tech-heavy Nasdaq gained 265 points, or 4.3 percent, to 6,458. Energy stocks also fell as the price of USA crude oil slid 1.5 percent a day after posting its biggest increase in two years. Stocks are opening strongly higher on Wall Street Wednesday, with real estate, raw materials and energy stocks leading a broad rebound from Monday's steep losses.

Economy What you should know about NY minimum wage increase on December 31
Author: 0 What you should know about NY minimum wage increase on December 31

THE Nigeria Employers' Consultative Association, NECA, yesterday, pleaded with the Federal Government to immediately send a draft bill on the N30,000 new national minimum wage to the National Assembly, NASS, for passage into law to save the nation from the consequences of the strike planned by Organised Labour in January 2019.

Economy Amazon announces record sales for holiday season in 2018
Author: 0 Amazon announces record sales for holiday season in 2018

During the holiday season, Amazon shipped a billion items for free with Prime . Customers seem to be growing more comfortable ordering with Amazon's voice assistant, Alexa , with the company saying people used it for shopping three times as much as a year ago.

Author: 0 CenturyLink outage impacting western Washington 911 services

Calls made to 911 using a landline appear to be working, State Police said. Texting 911 is also an option. Today (Dec. 27) at 3:32 p.m., CenturyLink tweeted: "The CenturyLink network is still experiencing a disruption affecting customer services".

Economy Trump has discussed firing US Federal Reserve chairman Powell
Author: 0 Trump has discussed firing US Federal Reserve chairman Powell

The Fed's independence from politics is widely seen as vital for its mission of keeping inflation under control. Trump suggested that he had a better feel for the markets than Powell, even though the Fed chairman has spent decades working at investment banks and the Treasury Department, and Trump, as a real estate developer, ran a number of companies which went bankrupt.

Economy Explosion lights up sky over Queens, New York
Author: 0 Explosion lights up sky over Queens, New York

It is investigating the cause of the incident. "There are no active fires and no significant loss of power except to LaGuardia airport where crews are working to restore full power to the airport as soon as possible", Cuomo said in a statement.

Economy Fed’s Powell Is ‘100%’ Safe, Trump Adviser Hassett Says
Author: 0 Fed’s Powell Is ‘100%’ Safe, Trump Adviser Hassett Says

Which is rattling investors even more, because they worry Trump is trying to turn the Fed into his own political tool. The President - answering reporters' questions at the White House after addressing U.S. President Trump is "very happy" with Treasury Secretary Steven Mnuchin , a White House adviser told FOX Business on Wednesday, adding that stories suggesting otherwise are "false".

Economy Boxing Day still offers allure to bargain shoppers
Author: 0 Boxing Day still offers allure to bargain shoppers

In fact, research carried out by the United Kingdom bank Barclays has shown that Boxing Day is the most popular day for shopping during the Christmas period. "It's good to get out and enjoy spending some money but I would rather do my shopping online - it's less busy and less of a nightmare". But with shoppers opting to snap up bargains online and Brexit uncertainty hitting consumer confidence, high-streets are less crowded again this December 26.

Economy New e-commerce norms hit Flipkart, Amazon
Author: 0 New e-commerce norms hit Flipkart, Amazon

While Flipkart has not commented on the changes, Amazon has said it is evaluating the circular. Soon, mobile phone companies might not be able to run exclusive flash sales on e-commerce portals. Under the law, these companies are barred from selling any products directly. The marketplace model is when an e-commerce company simply provides an information technology platform in order to act as a facilitator between the buyer and the seller.

Economy Nikkei enters bear market as Japanese equities face worst December ever
Author: 0 Nikkei enters bear market as Japanese equities face worst December ever

The rallies came after the Nikkei index lost more than four percent this week amid rising doubts about the U.S. economy and fears sparked by a USA government funding crisis. In interdealer cash bond trading, the key 10-year JGB yield briefly fell to zero percent for the first time since September 11, 2017. A stronger yen was adding to the woes for markets in Japan , he added.

Economy Boxing Day store sales hit by rise of Black Friday giveaways
Author: 0 Boxing Day store sales hit by rise of Black Friday giveaways

Springboard said footfall in high streets declined by 1.1%, which is a much better result than previous year and in 2016 (6.6% in 2017 and 2.8% in 2016). Don Williams, Retail Partner at KPMG said: "With this year's Black Friday being a bit of a damp squib, many could be forgiven for hoping that would have benefited post-Christmas sales, including Boxing Day".

Economy Dad flew with flight attendant daughter to keep her company
Author: 0 Dad flew with flight attendant daughter to keep her company

The post, which recieved over one lakh likes, was later shared by Hal's daughter Pierce T. Vaughan. That was the predicament a Delta Airlines flight attendant found herself in when she was rostered to work six flights over Christmas Eve and Christmas Day .

Economy Dow Surges 1000+ Points, Largest Single-Day Gain Ever
Author: 0 Dow Surges 1000+ Points, Largest Single-Day Gain Ever

According to CNBC, "retailers were among the best performers on Wednesday..." Benchmark U.S. crude climbed 8.7 per cent to settle at $46.22 a barrel in NY. Brent crude, used to price worldwide oils , shed 68 cents to $53.79 a barrel. The pickup in oil prices helped boost energy stocks. Asian markets closed mostly lower Wednesday after Mr.

Economy Market turmoil: Wall Street battered as Treasury chief fails to reassure
Author: 0 Market turmoil: Wall Street battered as Treasury chief fails to reassure

Mnuchin's outreach wasn't widely coordinated throughout the administration, according to people briefed on the discussions who requested anonymity to discuss internal deliberations. In October, Trump said he had no intention of firing Powell, but in November he declared that he was "not even a little bit happy" with Powell. Trump's morning tweet blasting the Fed generated fears about the economy being destabilized by any efforts to undermine Powell or strip him of office.

Economy Fishermen Rescued By Cruise Ship After Spending 20 Days Stranded At Sea
Author: 0 Fishermen Rescued By Cruise Ship After Spending 20 Days Stranded At Sea

When they woke up and realized what had happened, they tried to get back to their fishing gear, but ran out of gas. The men told their rescuers that they only had enough food and fresh water aboard their little boat for seven days, which they attempted to ration, but which ran out of before they were saved.

Economy Oil Rises to $51 After Steep Slide
Author: 0 Oil Rises to $51 After Steep Slide

OPEC is said to deepen output cuts. It's believed that such worries are attributable to deepening concerns over slowing global economic growth amid signs such as equities sell-offs and geopolitical challenges caused by global trade tensions and USA sanctions against Iran.

Economy Drone detection systems ready to be deployed throughout the UK
Author: 0 Drone detection systems ready to be deployed throughout the UK

It follows three days of disruption at the airport last week, when drones were sighted near the runway affecting around a thousand flights. Sussex Police insist investigations into drone sightings around London's Gatwick Airport are ongoing despite a comment from a senior detective that there may not have been any drones flying over the airport after all.

Economy Bank strike a total success: UFBU
Author: 0 Bank strike a total success: UFBU

On the other hand, the United Forum of Bank Unions (UFBU) said that the amalgamation will only witness the closure of branches and customers will face the aftermath of it as many banks are already burdened due to the implementation of many governmental schemes like social security insurance, Jan Dhan Yojana and others.

Economy Verizon Store Hours on Christmas Eve & Day 2018
Author: 0 Verizon Store Hours on Christmas Eve & Day 2018

Christmas Eve Masses will be at 5:00 p.m. and 7:00 p.m. An impressive feat for the thousands hitting the stores in the final hours before Christmas Day. Denny's: Open 24-hours on Christmas Day. Waffle House is open 365 days a year and 24/7, serving their delicious biscuits. Kohl's is opening for the majority of the day on December 26 and eager shoppers can start their returns and exchanges at 7 a.m.

Economy Mega Millions drawing could deliver biggest Christmas lottery gift ever
Author: 0 Mega Millions drawing could deliver biggest Christmas lottery gift ever

No winning tickets were immediately announced. Eastern time, with a machine selecting six numbered balls, including the "Mega ball". The day after Christmas, the Powerball jackpot stands at $294 million annuity, or $177.6 million cash. Virgin Islands. The Mega Millions drawing is tomorrow, falling on Christmas Day, and lots of people here at home have already been buying their tickets.

Economy Ghosn’s detention extended by 10 days through Jan 1
Author: 0 Ghosn’s detention extended by 10 days through Jan 1

Ghosn was re-arrested on Friday based on suspicions that around October 2008 he shifted personal trades to Nissan to make it responsible for 1.85 billion yen ($16.6 million) in appraisal losses, prosecutors said. Since then, the once jet-setting executive has languished in a tiny cell in a detention centre in northern Tokyo. The Ghosn case has put Japan's criminal justice system under worldwide scrutiny and sparked criticism for some of its practices, including "re-arresting" suspects ...

Economy Oil Plunges 6 Percent as Economic Slowdown Fears Grip Market
Author: 0 Oil Plunges 6 Percent as Economic Slowdown Fears Grip Market

Brent fell 11 percent last week and hit its lowest since September 2017, while US futures post its worst weekly performance in almost three years. The benchmark Brent crude traded below $54 a barrel, the lowest since September 2017. Equity markets in Asia were moderately higher on Monday, though trading was limited because of the Christmas holiday on December 25. The Organization of the Petroleum Exporting Countries and allies led by Russian Federation agreed this month to cut oil ...

Economy US Treasury chief to confer with top market regulators
Author: 0 US Treasury chief to confer with top market regulators

Mnuchin, who was reportedly vacationing in Cabo, released a statement that said the CEOs of six large banks confirmed they had enough liquidity for lending and market activities. Powell, say insiders, is close to "Jeff Sessions-level" disfavor with Trump. "We continue to see strong economic growth in the USA economy with robust activity from consumers and businesses", stated Secretary Mnuchin and added "With the government shutdown, Treasury will have critical employess to maintain its ...

Economy Oil producers to have extra meeting if output cuts 'not enough': UAE
Author: 0 Oil producers to have extra meeting if output cuts 'not enough': UAE

Thus, on the New York Trade Exchange, US crude oil fell by more than $ 3 or almost 7 percent to $ 42 a barrel, which was the lowest price since last June. In an effort to show its commitment to reducing supply, Opec is soon expected to release a table detailing output cut quotas for its members and non-Opec producers who agreed to cut production, combined known as the so-called Opec+ group.

Economy Tesla's competition for the Model Y is growing quickly in China
Author: 0 Tesla's competition for the Model Y is growing quickly in China

Tesla Inc has cut costs on its Model 3 electric vehicle in China. Timeline for the vehicles Xpeng is already taking orders for the G3 and claims that it is ready to start deliveries. Tesla is on the list - but there are nine others you may be overlooking. Xpeng is even farther behind. Creation of the ES8 of NIO was started just in June and it has just made 10,000 or so autos.

Economy No end to shutdown until border funding is secured
Author: 0 No end to shutdown until border funding is secured

In addition to his usual complaints about "Fake News " and Democrats , Trump has also taken aim at the Federal Reserve, praised Saudi Arabia, and dismissed Washington's envoy to the anti-ISIS coalition as an " Obama appointee " who gave Iran $1.8 billion " in CASH " as part of the " horrific " nuclear deal.