Monday, 24 June 2019
Latest news
Home » Finance

Finance

S&P 500 hits all-time high as Fed signals rate cuts

perth_map

The Dow Jones Industrial Average on Friday dropped 34.04 points, or 0.1 percent, to 26,719.13, jumping 2.4 percent from 26,089.61 a week earlier. The rally Thursday came as investors balanced optimism over the possibility that the Federal Reserve could cut interest rates in response to a slowing economy and jitters about the prospects of dimmer corporate profits should a severe slowdown take hold. Read More »

Gold Surges On Weak US Dollar, Market Cycles Point Higher

perth_map

Nine members on the Federal Open Market Committee wanted a cut to a funds rate around 2.1% in 2020. Gold prices steadied after shooting up to a near six-year high on Friday, surpassing the key $1,400 level on dovish signals from major central banks and rising tensions in the Middle East. Read More »

YouTube to Dump Harmful Content

perth_map

At the moment, YouTube is considering either disabling the auto-play feature to prevent unsafe content from automatically playing, or shifting all the kids content to their dedicated YouTube Kids app. He further said that they identified some of the drawbacks and has altered the priorities. "Some remain just that - ideas", said a YouTube spokesperson. Read More »

Toys 'R' Us to open new stores ahead of the holidays

perth_map

The ability to open the stores would come with consignment inventory, where Toys "R" Us wouldn't pay for products until they are bought by shoppers, a source told Bloomberg . "We're definitely coming back in 2019". Good news for those Toys R Us kids who never stopped believing their beloved had toy store disappeared forever. Read More »

High Arsenic Levels Found in 2 Bottled Water Brands

perth_map

Peñafiel is owned by Keurig Dr. Pepper and is sold at Target and Walmart. On Friday, Keurig Dr Pepper announced it will be withdrawing Penafiel products from shelves due to "presence of violative levels of arsenic", a press release from the Food and Drug Administration stated. Read More »

Slack soars to $21 billion valuation in debut after shunning IPO

perth_map

Slack's direct listing is the first since Spotify's successful debut previous year. Slack is expected to be worth as much as $17 billion once shares start trading today. Recent enterprise software IPOs include Crowdstrike Holdings Inc and Zoom. The stock climbed as high as $42 apiece, giving the company a market value of more than $21 billion. Read More »

Qantas reveals $25m frequent flyer changes

perth_map

Among the new offerings, which will be rolled out over the 12 months, are 1 million additional rewards seats available annually on Qantas and new partner airlines, as well as up to a 10 per cent reduction in the number of points required for worldwide economy Classic Rewards seats. Read More »

Questions and criticism emerge for Facebook's Libra currency

perth_map

The Libra , as Facebook is calling it, already has some high-profile partners, including Visa, Mastercard, and Spotify. Why it's important: Some believe that Libra is Facebook's attempt to follow Tencent's successful push into mobile wallets as a social media company, even though the two payment systems are based on different technologies. Read More »

Malaysia among replacements as Apple mulls moving ops out of China

perth_map

The company has chose to eat the tax on these accessories so that consumers don't pay any more for them. As trade tensions rise between the U.S. and China, tech giant Apple is considering moving its operations out of China. The country offers both a well-trained workforce that can meet Apple's manufacturing needs, as well as the infrastructure to serve Apple and other western companies. Read More »

OPEC to meet in Vienna July 1-2

perth_map

US crude oil accelerated to the upside after the trend changed to up on the daily chart. Oil prices rose almost 2 percent on Thursday on signs of improving demand in the United States, the world's biggest crude consumer, and as OPEC and other producers finally agreed to a date for a meeting to discuss output cuts. Read More »

Oklahoma teens fall ill after graduation trip to Dominican Republic

perth_map

The U.S. State Department confirmed the death of a U.S. citizen in January, but did not release a name. "The FBI is providing technical assistance to Dominican authorities with toxicology reports for three recent deaths at the Grand Bahia Principe La Romana resort", the agency said in a statement to Fox News . Read More »

Stocks rally, bond yields plunge as Fed fuels rate cut hopes

perth_map

On Wall Street, the Dow Jones Industrial Average rose 50.53 points, or 0.19%, to 26,516.07, the S&P 500 gained 5.91 points, or 0.20%, to 2,923.66 and the Nasdaq Composite added 8.02 points, or 0.1%, to 7,961.91. Benchmark 10-year US notes last rose 5/32 in price to yield 2.0422%, from 2.058% late on Tuesday. European markets closed mixed: London's FTSE fell 0.5 per cent, Paris added 0.2 per cent and Frankfurt lost 0.2 per cent. Read More »

Saudi Arabia rejects United Nations report in Khashoggi case as ‘baseless ‘

perth_map

Saudi Arabia had been trying to get him to return from the United States, where he worked as a journalist for the Washington Post , but he feared for his safety. He expressed hope his task would "be easy". It is not a problem. The body is heavy. Sen. Lindsey Graham, R-S.C., a close ally of the president, said in a statement at the time, "While I understand that Saudi Arabia is a strategic ally, the behavior of Mohammed bin Salman can not be ignored". Read More »

US Fed holds rates steady, signals cuts possible later this year

perth_map

The central bank's open market committee voted 9-1 to keep the benchmark interest rate in the range of 2.25% to 2.5%, where it's been since an increase in December. Policymakers "expressed concerns" about the pace of inflation's return to 2 per cent, Powell said, omitting his characterisation after the Fed's last meeting of low inflation as "transient". Read More »

Elon Musk's Twitter account "just deleted", Tesla founder says

perth_map

Musk's unusual weekend on Twitter also included a display name change to " Daddy DotCom " on Father's Day. The account remains active after the post. Musk denied the allegations, but he and eventually reached a $40 million settlement with the SEC after regulators threatened to seek his ouster as the company's CEO. Read More »

Facebook to launch new cryptocurrency, called Libra

perth_map

What is Libra and where will it be stored? Bell Gully tax lawyer Campbell Pentney said the emergence of Libra and other digital payment methods were going right to the heart of the finance establishment. Facebook's privacy practices have been under fire for years, but the company has faced increased scrutiny over the last few months. The social media company could face a record-setting fine of up to $5 billion from the Federal Trade Commission , which has been investigating Facebook ... Read More »

Asian Airlines Continue to Rank As the Best in the World

perth_map

The trend continued onto the smaller awards like best economy class and cleanest aircraft cabin. The Philippines' flag carrier is ranked #1 in this year's World's Most Improved Airlines list released yesterday, which is based on "an airline's quality improvement across the entire Awards programme". Read More »

Orlando Sentinel's 2020 Endorsement: Definitely Not Trump

perth_map

Florida is considered a near-must-win state for Trump to hold onto the White House, and both parties have been mobilizing for a fierce and expensive battle in a state that Trump has visited as president more often than any other. He has continued holding his signature "Make America Great Again" rallies in the months since. "People have never seen anything like it (unless you play a guitar)", Trump tweeted . Read More »

Trump blasts Draghi, China for weak currencies

perth_map

The euro fell on the comments and was down 0.2% to US$1.1193 as of 1.04pm in London. Talk of re-starting stimulus comes only six months after the European Central Bank phased out a 2.6 trillion euro ($2.9 trillion) bond-purchase program that pumped new money into the economy over nearly four years in an attempt to drive inflation higher. Read More »

Why Facebook Is Minting a Coin and How You Can Use It

perth_map

Wedbush analyst Ives said how well it is received will boil down to execution and "how comfortable consumers feel around Facebook and cryptocurrency ". If Facebook is successful in rolling out Libra , they might have the power to become a " shadow bank " as expressed by Ferber. Such consolidation of power in the hands of a company that already has a monopoly on online social interaction for its 2-billion-plus users - and a bad record of protecting users' privacy - has understandably ... Read More »

London Stock Connect launched

perth_map

Under the Connect scheme, Shanghai-listed companies can raise new funds via London's stock market while companies on the London Stock Exchange can broaden their investor base by selling existing shares in Shanghai. From Monday, London investors will have the opportunity to trade Global Depositary Receipts in Huatai. It will be the first time foreign companies are able to list in mainland China, the United Kingdom government said in a statement. Read More »

Huawei braces for a steep drop in overseas smartphone sales

perth_map

Ren said the United States is also limiting the company's cooperation with US universities, some of which have cut research partnerships with Huawei in recent months. Ren had previously claimed that Huawei had been stockpiling computer and mobile chipsets as well as other electronic components and that doing so would insulate from the ban, which had always been predicted. Read More »

Pet Food IPO Chewy May Put Amazon On Its Heels

perth_map

Over the past eight years, Chewy's net sales grew from $2 million to more than $3.5 billion, including a almost 68 percent increase from FY17 ($2.1 billion) to FY18 ($3.5 billion). The reason for the large stock pop is simple, Kennedy said: Investors these days are betting big on high-growth companies. "There's still lots of penetration and growth to be had just within the USA market, there's continuing to expand internationally", Cohen, who stepped down as CEO of Chewy in 2018, said in an ... Read More »

Potential Oversupply and Slower Demand: Will OPEC Extend Production Cuts?

perth_map

United States crude inventories rose by 4.9 million barrels in the week ended June 7 to 482.8 million barrels, data from the American Petroleum Institute (API) showed on Tuesday. Iran's May oil production fell to 2.370 million barrels per day, a decrease of 227,000 barrels per day from April. According to UAE's energy minister, OPEC members are close to finalizing an agreement to extend supply cuts in crude oil beyond June. Read More »

Instagram down in worldwide outage

perth_map

Many have also complained that they can not post photos, send messages to other users or login. However, as far as we can tell, the outage looks to be sporadic affecting some while others reported that their Instagram was working fine. Updated at 3:52 p.m. PT: adds Twitter post from Instagram. 'Fix your app, ' one user replied to a tweet from Instagram's official account. This isn't the first time that the social media platform has been hit by an outage this year. Read More »

Widespread tech outage affecting Target stores

On Saturday, the retailer reported its sales registers were out nationwide. In a statement, Target said they are "aware that guests are currently unable to make purchases at Target stores and their teams "are troubleshooting now". Some cashiers were using handheld devices to enter in bar codes by hand so customers could check out. "Target has identified an issue impacting checkout at some of our US stores, " spokeswoman Molly Snider said at the time . Read More »

Tesla To Get 'Fallout 3,' YouTube On Its Touchscreens Soon, Musk Confirms

perth_map

Musk said Tesla chose to launch more in-car games as a way to make them 'the most fun possible'. You can find out more about the China mobile games market at Pocket Gamer Connects Hong Kong on July 17th and 18th. Every Tesla has a massive touchscreen infotainment center, and soon, you'll be able to use it to play Bethesda's Fallout Shelter . In a tweet on May 19, Musk gave a hint that "We def need racing game using actual vehicle steering wheel & pedals!" Howard also said he ... Read More »

Huawei urging Verizon to license patents

perth_map

National security experts worry that "back doors" in routers, switches and other Huawei equipment could allow China to spy on USA communications. Huawei has always denied these allegations. The issue might have an impact on several of Verizon's vendors. The White House Office of Management and Budget has told the US Congress it will now meet a two-year deadline to ban federal contracts with companies that do business with Chinese telecoms giant Huawei, as part of a defense law passed ... Read More »

Parliament knocks down Labour motion to prevent no-deal Brexit

perth_map

It is supported by Sir Oliver Letwin, who shepherded similar legislation through the Commons in March. Labour is using a vote on Wednesday to try and seize control of the parliamentary agenda later this month to give lawmakers the chance to introduce legislation aimed at preventing the suspension of parliament or a no-deal exit. Read More »

Huawei considers using Sailfish OS instead of its own OS

perth_map

Huawei has already reportedly received trademark clearance in China. Huawei is in the process of potentially launching a replacement. That could pose a challenge to Google as the Chinese rival has massive power to shake up the market and attract developers and other Chinese peers to use its new operating system. Read More »

Huawei Trademarks Its Own Mobile OS Around World After US Ban

perth_map

While that's understandable, it looks like the company is going aggressive as they have requested on trademarking HongMeng name in various countries . Huawei has come under mounting scrutiny for over a year, led by USA allegations that "back doors" in its routers, switches and other gear could allow China to spy on US communications. Read More »

Visa announces commercial launch of DLT-based cross-border payments network - TokenPost

perth_map

At present, most cross-border payments are mainly facilitated by the Society for Worldwide Interbank Financial Telecommunication, or Belgian organization Swift . It's also hard to track the transfer's progress and predict how much it will cost, including the foreign exchange rate. The B2B Connect can allow banks to directly connect with each other, and customers can see the payment fees upfront. Read More »

Ford recalls 1.2M Explorers: Rear suspension could break

perth_map

Ford dealers will remove and replace both the right and left rear suspension toe links with new forged components, as well as align the rear suspension for free. In addition, in Canada it has recalled 12,000 2010-17 Ford Taurus, 2009-17 Ford Flex, 2009-15 Lincoln MKS and 2010-17 Lincoln MKT vehicles, because of a a rear suspension toe link fracture. Read More »

Facebook's Study program pays for information about the apps you use

perth_map

They clarified that they will be working with a long-time partner, Applause , to handle the registration, compensation, and customer support. The mobile app will, on the other hand, will be looking into what apps a user has installed, how time a user spends on a particular app and app activity names - basically, the kind of the actions you're performing within an app. Read More »

Oil Prices Surge Over the Sentiments of Supply Cut

perth_map

Concern about slowing demand and economic growth has had a large impact on sentiment amid a trade war between the USA and China . On Monday's (June 10th) market, crude rally was nearly entirely goaded by a signal of OPEC-kingpin Saudi Arabia , that the club of oil producers including Russian Federation would restrict supply to current level beyond June in order to balance a stormy crude oil market amid an intransigent USA inventory rise. Read More »

FCA US and Aurora to develop autonomous vehicles

perth_map

The deal is the latest for Aurora, co-founded by former Google vehicle executive Chris Urmson, and which has integrated its technology into sedans, SUVs, minivans and trucks. In an ironic twist, Aurora's CEO Chris Urmson, a pioneer in the autonomous field, previously headed Waymo before it was spun off by Google and new CEO John Krafcik came onboard. Read More »

Fake video of Facebook boss won't be removed, says Instagram

perth_map

Last month Facebook declined to remove a manipulated video that made it appear House Speaker Nancy Pelosi was slurring her words. I owe it all to Spectre . The creators, Bill Posters and Daniel Howe, have made the video in partnership with ad agency Canny . If it's marked as false by third-party fact checkers, the spokesperson said , the site's algorithms won't recommend people view it. Read More »

Kroger to sell CBD products in Tennessee, other states

perth_map

The Cincinnati-based grocer will begin selling lotions, balms, oils, and creams at its stores in 17 states as soon as this week. The Kroger Co.is becoming part of the retail craze involving CBD . CBD products can only contain up to 0.3 percent THC - tetrahydrocannabinol - which means they do not cause the psychoactive effects that marijuana users experience. Read More »

United Technologies to merge with Raytheon Company

perth_map

United Technologies and defense contractor Raytheon have agreed a $121bn merger that will create the world's second-largest defense contractor. The Defense Department looks forward to working with the combined company "to provide the best capabilities our warfighters deserve, at the greatest value to the taxpayer", Andrews said. Read More »

Trump targets euro, renews attack on US Fed

perth_map

CPI is a key gauge of changes in purchasing trends and inflation. US stock prices rallied for a fourth straight day Friday on increasing bets that the central bank will reduce rates. -China trade war, have stoked speculation the Federal Reserve will cut interest rates before long. "For now, inflation pressures in aggregate remain benign". Read More »