Economy

British PM May briefed inner cabinet 'Brexit deal close'

British PM May briefed inner cabinet 'Brexit deal close'

However, Mrs Foster said the EU's proposals would place "an effective one-way turnstile" between Northern Ireland and the rest of the UK. The 3-months 25 delta risk-reversal jumped by 4.40% since th...

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United States moves to limit nuclear sales to China

United States moves to limit nuclear sales to China

China's politically-sensitive surplus with the USA was $34.13 billion in September, surpassing the record of $31.05 billion in August. The monthly trade imbalance, up 10 per cent from the previous r...

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Brexit deal 'within reach' says Barnier

Brexit deal 'within reach' says Barnier

Speaking at the International Monetary Fund annual meeting in Bali, he said: "I have always been optimistic that we would get to a deal in the end, because it's clearly in the interest of both sides t...

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PC Market Flat-Lined in Q3 2018

PC Market Flat-Lined in Q3 2018

Gartner's PC shipment estimates for the third quarter of 2018 have HP Inc as the number one PC seller, followed by Dell - no surprises there - and Lenovo and Apple in third and fourth positions....

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The IMF again downgrades outlook for the global economy

The IMF again downgrades outlook for the global economy

The U.S. economy is expected to grow 2.5 percent in 2019. Growth in both the United States and China were expected to slow next year as a result of the trade dispute triggered by US President Donal...

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Melania Trump Wants to 'Get to Bottom' of Missing Saudi Journalist

Melania Trump Wants to 'Get to Bottom' of Missing Saudi Journalist

The apparent outing of members of the Saudi security services will add to growing worldwide pressure on the kingdom, which faces accusations from Turkey of having murdered and dismembered Mr Khashogg...

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Brexit deal next week 'within reach': Barnier

Brexit deal next week 'within reach': Barnier

The Democratic Unionist Party, which props up Prime Minister Theresa May's Conservative government , threatened to vote against the forthcoming budget if she makes a deal that disadvantages Northe...

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Trump says Chinese 'lived too well for too long'

Trump says Chinese 'lived too well for too long'

USA presidents have rarely criticized the Fed in recent decades because its independence has been seen as important for economic stability. "I'd like our Fed to not be so aggressive because I think th...

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Wall Street Yo-Yos in Early Trading Thursday

Wall Street Yo-Yos in Early Trading Thursday

Some technology companies emerged relatively unscathed, with Facebook and Activision Blizzard advancing and Microsoft and Google parent Alphabet falling only modestly. Federal Reserve recently raise...

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International Monetary Fund chief, Pakistan FM meet as Islamabad seeks financial assistance for bailout

International Monetary Fund chief, Pakistan FM meet as Islamabad seeks financial assistance for bailout

He said the dollar causes complications for emerging economies, though it's not going away anytime soon. Gasper noted that there is a positive relation between the debt to GDP ratio and the level of...

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Patisserie Holdings suspends shares following the discovery of potentially fraudulent accounting irregularities

Patisserie Holdings suspends shares following the discovery of potentially fraudulent accounting irregularities

It also belatedly discovered HMRC filed a winding-up petition against one of its principal subsidiaries in September and is seeking £1.14m in taxes. Patisserie Holdings said: 'The company, in conjun...

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International Monetary Fund downgrades SA's 2018 growth forecast to 0.8%

International Monetary Fund downgrades SA's 2018 growth forecast to 0.8%

The Fund said that revenue gains from non-financial public corporations and government financial assets alone could be as high as 3 per cent of GDP a year, equivalent to the annual corporate tax colle...

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I don't like Fed raising interest rates so quickly, says Trump

I don't like Fed raising interest rates so quickly, says Trump

Trump has repeatedly touted Wall Street records as proof of the success of his economic programme, including his confrontational trade strategy. A stock market correction is defined as a fall of at l...

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A strong earthquake struck Indonesia's holiday island Bali

A strong earthquake struck Indonesia's holiday island Bali

Others in Nusa Dua, south of Bali's main worldwide airport, also panicked. Another resident, Ni Komang Sudiani, told AFP: "The quake was very big". Sutopo Purwo Nugroho, a spokesman for Indonesia'...

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China reprimands USA for trade dispute, Taiwan

China reprimands USA for trade dispute, Taiwan

Meeting at the Diaoyutai Guest House, Wang told Pompeo that the United States has "stepped up rhetoric over trade tensions" after a raft of tit-for-tat tariffs on billion of dollars in USA and Chinese...

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In Standoff With China, Trump Opts for Platitudes Over Policy

In Standoff With China, Trump Opts for Platitudes Over Policy

US Secretary of State Mike Pompeo faced a testy exchange with his Chinese counterpart in Beijing on Monday (Oct 8), days after a blistering US denunciation of the Asian power's global and domestic p...

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Economists Nordhaus, Romer awarded 2018 Nobel prize

Economists Nordhaus, Romer awarded 2018 Nobel prize

He told a news conference on Monday (Tuesday NZT) that his research had given him hope that people can solve even a problem as hard as a warming planet. They have taken macroeconomics to a global sc...

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Google appeals $5 billion European Union fine in Android antitrust case

Google appeals $5 billion European Union fine in Android antitrust case

The Alphabet Inc. -owned search giant said it has filed a legal appeal against the record-breaking fine. Back in July, the European Commission fined Google for its restrictions on Android device mak...

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Sudden jump in U.S. interest rates prompts Wall Street stock plunge

Sudden jump in U.S. interest rates prompts Wall Street stock plunge

The Dow Jones Industrial Average fell 430 points Wednesday morning, or around 1.6 percent. The losses were widespread, and stocks that have been the biggest winners on the market the last few years,...

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'The Fed has gone crazy': Trump points finger for Wall Street tumble

'The Fed has gone crazy': Trump points finger for Wall Street tumble

In comments to the press in Erie, Pennsylvania, Trump said, "I think the Fed is making a mistake". Despite Wednesday's sell-off, the S&P 500 would still need to more than double its losses. Fed Ch...

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The US Heard Saudis Talk About Capturing Khashoggi

The US Heard Saudis Talk About Capturing Khashoggi

European Union's foreign policy chief Federica Mogherini told reporters in Lisbon that "we are 100 percent behind the American position". Mr Khashoggi , a United States resident and critic of the...

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Dow Jones plunges 800 points as tech stocks tumble

USA stocks plunged Wednesday as investors ramped up their selling of high-flying technology and internet stocks. The current benchmark interest rate is 2 to 2.25 percent. The stock fell 34 percent to ...

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Trump says Federal Reserve ‘has gone crazy’ after big stock drop

But he's also calling the drop "a correction we've been waiting for for a long time". The Fed is doing what it thinks is necessary but I don't like what they're doing because we have inflation really ...

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Sears On Brink Of Bankruptcy, Report Says

Sears On Brink Of Bankruptcy, Report Says

Sears wants to reduce its debt load by 80%, hoping creditors will bite at the chance to make a deal while the company is still a going concern. Where we're headed: If Sears does file for bankruptc...

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Dow Jones Industrial sinks more than 800 points as bond yields rise

Amazon lost 6.2 per cent and Netflix gave back 8.4 percent. In the month before the S&P 500's correction in February, the 10-year yield rose 31 basis points, to 2.77 per cent, making it an even big...

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International Monetary Fund projects India growth at 7.3% in 2018

International Monetary Fund projects India growth at 7.3% in 2018

In Bali on Tuesday, IMF chief economist Maurice Obstfeld said the rupee was "too rigid and overvalued". "Looking ahead, clouds appear on the horizon", the report, published at the body's annual meet...

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Market Outlook: China cuts reserve requirements

Market Outlook: China cuts reserve requirements

Steven Leung, executive director at UOB Kay Hian ( Hong Kong ) Ltd, said: "Foreign investors turned bearish, unlike their previous optimistic buying of Chinese A shares". "Whether it is just in respon...

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Sydney trains rush hour delays and cancellations

Sydney trains rush hour delays and cancellations

He said they would attempt to spread the evening's cancellations across the network. Buses are supplementing some trains. "I nearly saw two fights break out", he said. 'That has taken staff availabili...

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Brexit adds to 'dangerous undercurrents' threatening global economy

Maurice Obstfeld , IMF chief economist, said: "US growth will decline once parts of its fiscal stimulus go into reverse". The IMF warned that China's growth even risked declining by a full perce...

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Crude Oil Price Surges on Iran Sanctions, Gulf of Mexico Fears

Traders are saying the catalyst behind today's strength is renewed concerns over crude exports from Iran. At the same time, Iran's Oil Minister Bijan Zanganeh on Monday called a Saudi claim that the...

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Two-thirds of air cabin crew claim sexual harassment

Nearly 70 per cent of those who have been sexually harassed never reported an incident and, of those who did, 84 per cent weren't satisfied with how it was handled. Four out of five harassed staffers ...

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Focus on global economic tremors

Focus on global economic tremors

Finance ministers and central bankers from 180 nations will be among 32,000 attendees in Bali for the annual meeting of the International Monetary Fund and World Bank, which takes place every three ...

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India defies USA, buying Iranian oil despite sanctions

India defies USA, buying Iranian oil despite sanctions

Speaking at an event here, Pradhan said two of India's state-owned companies had contracted for Iranian crude for November. India would lift 9 million barrels of Iranian oil in November, equivalent ...

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Service outage fixed after almost 3 days, says Vancity

Service outage fixed after almost 3 days, says Vancity

After isolating the issue, Vancity had to take even more time ensuring that it wouldn't recur once the system was restored. ATMs, credit cards and point of sales debit payments were not affected. Br...

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Italy says 'no plan B' to spending plans despite EU alarm

Italy says 'no plan B' to spending plans despite EU alarm

This latest outburst from the minister, who called Juncker a drunk earlier this week, follows ongoing tension between Rome and Brussels over both the budget and Italy's increasingly hard line ...

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