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Markets

However, the purchases would provide a goodwill gesture before the next round of US-China talks to change their terms of trade. The resumption of US soybean purchases will provide some relief to American farmers who have seen exports to the world's biggest consumer plummet and domestic inventories pile up.
  • Hasmukh Adhia rumoured to be the next RBI governor

    Hasmukh Adhia rumoured to be the next RBI governor

    Markets

    On Monday, in his resignation letter, Patel said his decision to step down as RBI governor was based on personal grounds. The resignation of Reserve Bank of India Governor Urjit Patel just before a key RBI Board meeting and a day ahead of five assembly election results, has set the political and economic circles on fire.
  • Uber races Lyft in filing for 2019 stock market debut

    Uber races Lyft in filing for 2019 stock market debut

    Markets

    Morgan Stanley and Goldman Sachs are likely to get the lead underwriting roles, according to Reuters. According to CNBC report which claims to have seen an internal mail by Uber India head Pradeep Parameswaran, to Khosrowshahi, Uber CFO Nelson Chai, and other executives, India also accounts for 11% of the total trips received by the platform from across the globe.
  • Fiat Chrysler expected to add new assembly plant in Detroit

    Fiat Chrysler expected to add new assembly plant in Detroit

    Markets

    Fiat Chrysler's plan stands in stark contrast to that of larger rival General Motors Co GM.N , which last week said it would close five North American assembly plants next year and cut up to 15,000 jobs due to weak demand for sedans and small cars in the US market.
  • Hundreds of thousands without power as massive winter storm hits U.S

    Hundreds of thousands without power as massive winter storm hits U.S

    Markets

    The governor of North Carolina declared a state of emergency on Friday as a major winter storm already drenching the southern plains states was expected to slam the southeast with snow and sleet this weekend. This is frequently the case in winter storms . Travel through the area could be hard due to heavy snow, according to the weather service. North Carolina Gov.
  • Donations To Salvation Army Red Kettles Doubled This Saturday

    Donations To Salvation Army Red Kettles Doubled This Saturday

    Markets

    The fundraising goal for all Western Pennsylvania is $2.5 Million. "We're just so grateful, and it certainly boosts our efforts". How can local businesses and the public help? Major Robert Doliber with the Salvation Army said the bell ringer had not yet shown up for his shift when the theft occurred, and doesn't believe there was much money in the kettle.
  • Oil edges higher after Russian Federation indicates larger output cut

    Oil edges higher after Russian Federation indicates larger output cut

    Markets

    OPEC's president says the oil cartel in conjunction with non-OPEC producers including Russian Federation have agreed to cut oil production by 1.2 million barrels a day in January for six months. While the net balance shows the United States is selling more petroleum than buying, American refiners continue to buy millions of barrels each day of overseas crude and fuel.
  • Economists react to November's blockbuster jobs data

    Economists react to November's blockbuster jobs data

    Markets

    The number of marijuana-related positions is up 266 per cent from this time past year to 10,400, mostly in Ontario which has 5,700 people employed in the growth of cannabis. The November surge was fuelled by other positives: 89,900 new full-time positions and 78,600 jobs in the private sector. But Friday's report also contained bad items.
  • O2 and Ericsson issue joint apology after network outage

    O2 and Ericsson issue joint apology after network outage

    Markets

    It took until Friday morning for 02 customers in the United Kingdom to have full 4G access once again. An O2 spokesperson apologised for the data outage and assured customers they are doing everything possible to ensure it does happen again in the future.
  • U.S. hiring slower but stays steady in November

    U.S. hiring slower but stays steady in November

    Markets

    Among major worker groups, there was little change in November. "Wages are rising at their fastest pace in a decade for our workers and almost 2.3 million jobs have been created this year alone - the Republican pro-growth agenda is making a real impact for families and individuals across the country".
  • Marlboro Owner Altira Invests $1.8 Billion in Canadian Cannabis Company Cronos

    Marlboro Owner Altira Invests $1.8 Billion in Canadian Cannabis Company Cronos

    Markets

    Cronos first announced that it was in talks with Altria this week. With the Cronos deal, Altria will get a new opportunity to boost revenue as cigarette smoking continues to decline in the United States. "In fact, we think this partnership makes us collectively a more attractive partner" for other potential investors, Gorenstein said on a conference call Friday.
  • Dollar pressured by falling U.S. yields; recession fears

    Dollar pressured by falling U.S. yields; recession fears

    Markets

    The MSCI's all-country index shed 0.5 percent. However, analysts said as traders grew anxious about sagging United States growth, longer-dated Treasury bond yields have been sharply weighed down. According to Forbes , the Fed has played a major part in suppressing long-term interest rates while raising short-term interest rates. Though it is not certain the narrowing in spreads is related to doubts about economic growth, alternate explanations would not necessarily be helpful to ...
  • China promises prompt action on USA trade pact

    China promises prompt action on USA trade pact

    Markets

    Failure would raise the spectre of fresh U.S. tariff action and potential Chinese retaliation as early as March. If the two had failed to reach an agreement, the USA would've seen $200 billion worth of Chinese goods have their tariffs increase from 10% to 25% at the beginning of 2019.
  • US stocks end down more than 3pc on trade, growth worries

    US stocks end down more than 3pc on trade, growth worries

    Markets

    The Russell 2000 is down 52.51 points, or 3.4 percent. -China trade cease-fire. That revived fears their tariff battle could chill global economic growth. -China trade truce reached over the weekend wasn't all it was cracked up to be. That seemed to counter Fed Chairman Jay Powell's remarks last week. "Maybe we're not going to get as dovish a Fed as some think", said Joseph LaVorgna, chief economist, Americas at Natixis in NY.
  • Huawei CFO is arrested in Canada over Iran links

    Huawei CFO is arrested in Canada over Iran links

    Markets

    Meng was arrested in Vancouver on Saturday and is being sought for extradition by the U.S. The Wall Street Journal reported last month that U.S. BT, Britain's largest mobile provider, said this week it was removing the equipment of Huawei from its 4G cellular network. They urged him to keep Huawei off Canada's next- generation network.
  • U.S. markets set to drop amid Huawei arrest, trade war

    U.S. markets set to drop amid Huawei arrest, trade war

    Markets

    Meng "was arrested in Vancouver on December 1", a statement by Canada's ministry of justice said . "The arrest comes against a backdrop of concerns about trade and technology as well as cyber security when using Chinese hardware for IT systems", said Michael Hewson, analyst at CMC Markets.