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Jean-Claude Juncker, president of the European Commission, believed the rejected deal is a fair compromise and the best possible deal, warning that "time is nearly up" and urging the Britain to "clarify its intentions as soon as possible". Even before Tuesday's defeat, the largest in living memory, the timetable for an orderly Brexit was tight. "The second option, they tell us - in my view, that's what they'll do, I know them a bit - "we'll try to improve what we can get from the Europeans ...
  • Billionaire Oracle founder Larry Ellison reveals $1bn stake in Tesla

    Billionaire Oracle founder Larry Ellison reveals $1bn stake in Tesla

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    China responded in kind, adding tariffs to an equal amount of US products. Oracle co-founder Larry Ellison disclosed in a U.S. Securities and Exchange Commission filing on Monday that he owns a $1 billion stake in Tesla , making him the second-largest individual investor in the electric-car maker.
  • Saudis raise oil reserves ahead of Aramco's planned IPO

    Saudis raise oil reserves ahead of Aramco's planned IPO

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    Saudi Arabia had a target to lower output to 10.311 million bpd as of January 1, when the supply cut accord took effect. The falling inventories came amid rising crude imports, which recorded an average of 7.8 million barrels per day (bpd) last week, the report said.
  • Rare 1943 penny sells for $200,000, far below expectations

    Rare 1943 penny sells for $200,000, far below expectations

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    Don Lutes Jr. found this rare penny in 1947. Luckily for Lutes, he kept it in his collection. "While a number of other examples have surfaced over the years, no other specimen has been celebrated and written about as much as this remarkable coin", said Heritage Auctions .
  • Apple's iPhone 2019 plan: Play catch-up with Android

    Apple's iPhone 2019 plan: Play catch-up with Android

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    According to The Wall Street Journal , who cited people familiar with the matter, Apple is planning to release three new iPhone models, including a successor to the struggling XR, its lower priced device released past year that has failed to meet sales expectations.
  • Workers at GM's Oshawa Assembly Plant hold work stoppage over closure

    Workers at GM's Oshawa Assembly Plant hold work stoppage over closure

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    Those would include 4,400 jobs at GM Oshawa and its parts suppliers in Ontario that would be lost in 2020 as well as lost direct and indirect opportunities from keeping the assembly plant open for an additional five years. It was also unclear if any work stoppages would coincide with a Unifor rally in Windsor, Ontario on Friday. Colin James, president of Unifor Local 222 in Oshawa, speaks to the media with Unifor national leader Jerry Dias on Tuesday at the Unifor Local 444/200 hall ...
  • Powell: Fed 'Waiting and Watching' With Patience on Rates

    Powell: Fed 'Waiting and Watching' With Patience on Rates

    Markets

    On Thursday, Powell said he hasn't seen anything to indicate that the risk of a recession is elevated. During a lunchtime appearance at the Economic Club of Washington, D.C., Powell sounded optimistic about the US economy but cautioned that it was unclear whether slowdowns in Asia and Europe could become a drag on the U.S.
  • Samsung feels Apple’s pain as technology slowdown hits sales

    Samsung feels Apple’s pain as technology slowdown hits sales

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    It was now expecting to report operating profit of 10.8tn Korean won (£7.5bn) for the fourth quarter of 2018, down 29% on a year earlier and missing analysts' expectation of 13.2tn won (£9.2bn). Analysts say that Apple's woes and Samsung's are indicative of tougher times ahead for global businesses, as dismal growth in the world's second-largest economy, exacerbated by a long China-U.S.
  • Dollar falls for a third day on rate pause bets

    Dollar falls for a third day on rate pause bets

    Markets

    Gold fell about 0.7 percent in the previous session, its biggest one-day decline in about two months on the back of robust U.S. jobs data, but has recovered since. The dollar index is down by 0.238 points, or about 0.25% at 95.512, coming off an earlier high of 95.688. The move frees up $116 billion for new lending as it tries to reduce the risk of a pronounced fall in the pace of economic growth.
  • Hyundai Elevate EV is a walking electric vehicle concept

    Hyundai Elevate EV is a walking electric vehicle concept

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    A concept video produced by Hyundai shows the vehicle performing a mixture of driving and walking. The concept auto, which can apparently climb a five-foot wall and step over a five-foot gap while keeping its body and passengers completely level, is based on a modular EV platform with the capability to switch out different bodies for specific situations.
  • White House orders IRS to issue tax refunds despite shutdown

    White House orders IRS to issue tax refunds despite shutdown

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    The Internal Revenue Service, despite operating on a skeleton workforce, will pay tax refunds , the Wall Street Journal reported , citing the White House Office of Management and Budget. The online alert reads, "Under federal law, all tax payment and filing remain in effect during this period". Additionally, a 1040 form has been reduced to the size of a postcard and is expected to draw questions as people file 2018 tax returns.
  • Pipeline protesters delay Trudeau speech to First Nations with drums, chants

    Pipeline protesters delay Trudeau speech to First Nations with drums, chants

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    RCMP liaisons arrived before 11AM this morning with the injunction on behalf of the company wishing to construct a pipeline through the Wet'suwet'en territory. NDP reconciliation critic Romeo Saganash joined demonstrators on Parliament Hill on Tuesday before the group marched through downtown Ottawa streets with signs, including a large red one reading: "RCMP Off Wet'suwet'en Land".
  • Oil recovers as US-China talks begin

    Oil recovers as US-China talks begin

    Markets

    Oil futures have gained about 10 percent since last Monday. Global benchmark March Brent crude UK:LCOG9 added $1.39, or 2.4%, to $58.72 a barrel on ICE Futures Europe , which also marks the longest string of gains in about 18 months.
  • Trump Said to Want Trade Deal With China to Boost Stock Market

    Trump Said to Want Trade Deal With China to Boost Stock Market

    Markets

    Last year, US President Donald Trump imposed tariff hikes of up to 25 per cent on United States dollars 250 billion of Chinese goods. Lu also said Vice President Wang Qishan would attend the annual World Economic Forum in Davos, Switzerland in late January, but added that he had not yet heard of any arrangements for a meeting with Trump there.