Economy

US Fed’s Bullard says bigger rate cut ‘insurance’ against recession

US Fed’s Bullard says bigger rate cut ‘insurance’ against recession

He expressed worry that inflation readings continue to run below the Fed's 2% target despite the July cut and the high expectations for the 25 basis point cut this week. While some Fed officials wor...

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Tesla board must defend Elon Musk's compensation package, judge says

Tesla board must defend Elon Musk's compensation package, judge says

The company, which has yet to post an annual profit according to earnings reports, did not meet any of its performance milestones previous year, so Musk received no compensation. Tesla's board appr...

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Flight 'chaos' as Delta flight plunges nearly 30,000 feet

Flight 'chaos' as Delta flight plunges nearly 30,000 feet

During the flight, the plane descended from 39,000 feet to 10,000 in less than seven minutes, resulting in oxygen masks dropping from the ceiling and passengers panicking. A statement by Delta says th...

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Burger King scraps plastic toys in children's meals, launches amnesty

Burger King scraps plastic toys in children's meals, launches amnesty

Katie Evans, marketing director at Burger King UK, said in a statement : "It is impossible to ignore the growing problem excessive plastic waste is causing and we are glad to be taking action". Th...

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Daimler Ends Gas Engine Development: Full Focus On Electric Cars

Daimler Ends Gas Engine Development: Full Focus On Electric Cars

Auto Motor und Sport says that this bit of news comes from Daimler development chief Markus Schaefer, who suggests that Daimler's roadmap now has no plan, for future gasoline engine development, ...

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Renewable power additions to hit double-digit growth in 2019:IEA

Renewable power additions to hit double-digit growth in 2019:IEA

Tumbling solar costs have spurred Google on to a dramatic boost of its exposure to the technology, acting to line up supply from projects worldwide as part of a major clean energy push. Google cla...

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Alison Rose to Be Next RBS CEO

Alison Rose to Be Next RBS CEO

Rose, deputy-head of the group's NatWest Holdings retail business and the RBS commercial and private banking division, replaces Ross McEwan , recently chosen to be boss of National Australia Bank. ...

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Dominion embarks on 2.6GW offshore giant

Dominion embarks on 2.6GW offshore giant

The offshore wind developments are included within a dozen renewable energy projects awarded CfDs, which, combined, will power more than seven million United Kingdom homes at record low prices. More i...

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Walgreens to launch drone delivery test

Walgreens to launch drone delivery test

Although the delivery service will only be open to residents in Christiansburg, Virginia, which is home to 21,000 people, the trial offers a glimpse of what kinds of services we can expect from Wing's...

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Walmart will stop selling e-cigarettes as backlash spreads

Walmart will stop selling e-cigarettes as backlash spreads

Walmart announced Friday it will non longer sell vaping products in its almost 5,000 stores. Zeller said the investigation is ongoing, but the office is not pursuing any prosecutions related to pers...

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Fed likely to cut rates a 2nd time as economic threats loom

Fed likely to cut rates a 2nd time as economic threats loom

On Tuesday, the lending rate for short-term borrowing by banks soared to around 10%, more than four times the Fed's then-2.25% ceiling. St. Louis President James Bullard wanted a half-point cut whil...

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Thomas Cook reassures customers as talks go on to save company

Thomas Cook reassures customers as talks go on to save company

The 178-year-old travel agent could face going bust if it does not manage to come up with the funds, which could urge the government to launch the biggest peacetime repatriation by the Civil Aviation ...

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Mitsubishi unit in Singapore loses $320 million on unauthorized trades

Mitsubishi unit in Singapore loses $320 million on unauthorized trades

Petro-Diamond Singapore, a Mitsubishi Corporation unit, "expects to book a loss of approximately $320 million from its trade of crude oil derivatives". This prompted it to start investigating the empl...

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Almost 700 workers temporarily laid off at St. Catharines GM plant

Almost 700 workers temporarily laid off at St. Catharines GM plant

However, Wright says stamping operations continue. Kansas Governor Laura Kelly visited striking members of UAW Local 31 Thursday. "If we get into next week, that's pretty cavalier", he said. GM ...

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Hopes for trade breakthrough fade as China cancels US farm visits

Hopes for trade breakthrough fade as China cancels US farm visits

But the exemptions aren't only meant to mollify Beijing but would also help American businesses hurt by President Donald Trump's tariffs , particularly as he and members of his administration have ...

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Facebook suspends 'tens of thousands' of apps in privacy review

Facebook suspends 'tens of thousands' of apps in privacy review

Facebook didn't provide a list of the apps that were suspended. Since the Cambridge Analytica scandal , Facebook has been looking into app developers who have access to user data. The Federal Tra...

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Pompeo wants peaceful resolution to crisis after Saudi oil attack

Pompeo wants peaceful resolution to crisis after Saudi oil attack

Responsibility was claimed by Yemen's Houthi movement, an Iran-aligned group fighting a Saudi-led alliance in Yemen's civil war. Mr Pompeo and vice president Mike Pence have condemned the attack o...

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Fed rushes to plug cash shortage in short-term loan market

Fed rushes to plug cash shortage in short-term loan market

The borrower of the cash agrees to repurchase the securities it has loaned as collateral at a later date, often as soon as the next day. The Fed's upcoming repo operation, its fourth this week, wi...

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India Stocks Poised For Biggest Jump in a Decade on Tax Cuts

The yield on 10-year bonds surged 20 basis points, the most for the benchmark notes since February 2017, to 6.85 per cent. She told reporters the new rates would be "comparable with the lowest tax r...

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Indian gov't reduces corporate tax for domestic firms to stimulate economy

Indian gov't reduces corporate tax for domestic firms to stimulate economy

The key takeaways from the finance minister's announcements and the ordinance that followed are as under: - An option to pay corporate tax at a reduced rate of 22% is provided to every domestic com...

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Pompeo wants peaceful resolution after 'Iranian' oil attacks on Saudi oil facilities

Pompeo wants peaceful resolution after 'Iranian' oil attacks on Saudi oil facilities

President Donald Trump into a war against Iran . Trump is now considering how to respond to the strikes, which are believed to have used drones and cruise missiles to hit the Abqaiq petroleum proc...

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Reasons Why the Saudi Oil Attacks Won’t Lead to War with Iran

Saudi Aramco revealed the significant damage caused by aerial strikes on its Khurais oil field and Abqaiq crude-processing plant last weekend, and insisted that the sites will be back to pre-attack ou...

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Facebook CEO Mark Zuckerberg meets Trump, rejects call to break up company

Facebook CEO Mark Zuckerberg meets Trump, rejects call to break up company

President Trump tweeted about the meeting and included an image from the Oval Office on Thursday night. Democratic Senator Mark Warner, the Intelligence Committee's Vice Chair, helped organise a...

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Govt proposes to slash corporate tax rate: FM Nirmala Sitharaman

Govt proposes to slash corporate tax rate: FM Nirmala Sitharaman

Banks would be encouraged to include new retail customers for lending, she said. When asked whether the five new customers should be from the retail or MSME segment, Sitharaman said they could be fr...

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'Mr Corbyn, what do you believe - Remain or leave with a deal?'

'Mr Corbyn, what do you believe - Remain or leave with a deal?'

YouGov says the boost for the Lib Dems is fuelled by support among Remainers, with 41 per cent of those who voted against Brexit in 2016 backing Swinson's party. Another Welsh member of the NEC, AM Mi...

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Government Committed To Supporting Small Businesses: Nirmala Sitharaman

Further, Sitharaman said the government is reviewing liquidity situation with banks and has identified some NBFCs that they can lend to. The first will be held from September 24 to September 29 in...

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Airbnb announces plans to go public in 2020

Airbnb announces plans to go public in 2020

Amid the growing skepticism of Silicon Valley's unicorns on Wall Street, WeWork delayed its IPO after an unenthusiastic response from investors, and both Uber and Lyft are now trading below their ...

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Apple to take €13 billion Irish back tax order to European Union court

Apple to take €13 billion Irish back tax order to European Union court

But Ireland challenged the commission before the European courts over its decision on Apple . Indeed, even if the European Commission is successful in making Apple foot the $14.4 billion back tax...

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SA interest rates unchanged

SA interest rates unchanged

The decision was unanimous, Kganyago said. The prime rate will remain 10.25%. "Given the drop in (British) GDP in the second quarter, the fall in core inflation to an nearly three-year low in August...

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Roku updates streaming players and operating system

Roku updates streaming players and operating system

In terms of availability, the Roku Express and Roku Ultra can both be pre-ordered at Roku .com starting today. Roku Express + ($39.99) - This Walmart exclusive includes a "new sleek form...

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Saudi authorities may delay Aramco's IPO after attack

Saudi authorities may delay Aramco's IPO after attack

The kingdom has used oil reserves to fill the gap during the past few days, he added. Saudi authorities are considering whether to delay an initial public offering (IPO) oil giant Aramco after this ...

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Trump Blasts Fed Chief Powell: No Guts, No Sense, No Vision!

Trump Blasts Fed Chief Powell: No Guts, No Sense, No Vision!

It was the largest number of Fed dissents in three years. Some Fed officials have warned that waiting for signs of consumer spending and hiring to slow more sharply could require the Fed to deliver ...

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General Mills Recalls Some Gold Medal Flour Bags Over E. Coli Concerns

General Mills Recalls Some Gold Medal Flour Bags Over E. Coli Concerns

The recall only affects the above flour with a use-by date of September 6, 2020. Any consumers concerned about an illness should contact a physician. The FDA and General Mills urged people not to ea...

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Saudi-US possible attack on Iran would trigger all-out war: FM Zarif

Saudi-US possible attack on Iran would trigger all-out war: FM Zarif

Zarif went on to warn that, while Iran does not want a conflict, any USA or Saudi military strike on Iran would result in " all-out war ". Pompeo was speaking after consulting Saudi crown prince Mo...

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Amazon unveils climate plan, aims to advance Paris goals

Amazon unveils climate plan, aims to advance Paris goals

Bezos said Amazon will meet the goals of the Paris climate accord 10 years ahead of schedule. "If a company with as much physical infrastructure as Amazon - which delivers more than 10 billion items...

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