Money

USA having tremendous success with China on trade

USA having tremendous success with China on trade Share prices had risen Wednesday after President Donald Trump fueled optimism about possible progress by saying on Twitter talks were "going well!" CHINA-US TRADE: President Donald Trump tweeted that "Talks with China are going very well! " as news reports said trade negotiations would be extended to a third day, a potential positive sign even though no major developments have been announce... [Full Article...]

Tesla CEO Elon Musk Offered Residency by China

Tesla CEO Elon Musk Offered Residency by China Tesla's Shanghai plant, which is expected to finish construction by the end of the summer, is the first of its kind outside of the U.S. It is expected to produce 500,000 cars a year when fully operational. Through the rain, Shanghai's vice mayor said Musk and Tesla could make a fortune out of the muddy wasteland. The handshake ceremony with Li coincided with the China Passenger Car Associat... [Full Article...]

Apple expected to release three new iPhones in 2019

Apple expected to release three new iPhones in 2019 Customers gather as they take part in a class to learn how to use their iPhones at an Apple Store on January 7, 2019 in Beijing, China. This means Apple will maintain its two-OLED, one-LCD model lineup for the 2019 iPhone as well, despite rumours that the company could give up on LCD for this year's generation. [Full Article...]

Workers at GM's Oshawa facility hold work stoppage over planned closure

Workers at GM's Oshawa facility hold work stoppage over planned closure Workers also staged a protest on the Tuesday afternoon shift, then walked off the job, after they got word that GM had not accepted the union's proposals to save the factory during a meeting with labor leaders. The company acknowledged the frustration that led to the work stoppages, but urged the union to instead work with the company on timing and transition plans for the approximately 2,600 unio... [Full Article...]

Fed's Powell again stresses patience as United States economy's 'narrative' unfolds

Fed's Powell again stresses patience as United States economy's 'narrative' unfolds It would not want to wait too long to see overseas weakness affect the USA economy, he added. Why? Powell said recent recessions have been caused by the Fed having to "hit the brakes" to combat high inflation or "asset bubbles". While he has near weekly meetings with Treasury Secretary Steven Mnuchin , Powell said he has not met with Trump since taking over as Fed chairman, nor does he have any... [Full Article...]

Rare penny could be worth more than $1 million

Rare penny could be worth more than $1 million Where has the penny been all these years? A popular rumor among collectors at the time claimed Henry Ford was offering to trade a new vehicle for one of the rare "copper" pennies struck in 1943, but Lutes chose to just keep the coin after contacting the Ford Motor Company and discovering the offer was nothing but an urban legend. [Full Article...]

Optimism rises as U.S.-China trade talks conclude

Optimism rises as U.S.-China trade talks conclude U.S. and Chinese negotiators wrapped up three days of trade talks in Beijing on Wednesday as they seek a way out of the damaging trade war between the world's two biggest economies. The U.S. also said the negotiations "focused on China's pledge to purchase a substantial amount of agricultural, energy, manufactured goods and other products and services from the United States". [Full Article...]

China Trade Talks Continue for Unexpected Third Day

China Trade Talks Continue for Unexpected Third Day Trump, who has been accusing China of indulging in unfair trade practices contributing to the huge trade deficit amounting to $375 billion, on January 8 said the trade talks with Beijing were going on "very well". duty rates on US$200 billion in Chinese goods are due to rise to 25 per cent from 10 per cent on Mar 2. In recent weeks, China has showed some signs of flexibility or acceding to the A... [Full Article...]

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

Pipeline protesters delay Trudeau speech to First Nations with drums, chants Around 2012, the Unist'ot'en camp set up a blockade by constructing a gate and other obstacles to the area, and a second gate was recently constructed at the Morice River Bridge, the company said in a document filed with the court. Mounties say various offences , including alleged violations of an injunction order against the blockade, prompted Monday's arrests. The federal NDP's reconcilia... [Full Article...]

Goldman cuts 2019 crude price view; sees recovery from current levels

Goldman cuts 2019 crude price view; sees recovery from current levels Brent crude futures (LCOc1) rose $1.39 a barrel, or 2.4 percent, to $58.72. "Momentum is coming back into the market from very depressed price levels", Petromatrix strategist Olivier Jakob said. Supporting Ritterbusch's observations was news from Genscape that US crude inventories at Cushing, Oklahoma fell by 565,000 barrels from last Tuesday to Friday. [Full Article...]

Trump Lauds Progress as Day Two of Beijing Trade Talks Wrap Up

Trump Lauds Progress as Day Two of Beijing Trade Talks Wrap Up The more intractable issues related to structural reforms to China's industrial policies, as well as enforcement of any pledges, have been raised by officials on both sides, though there is little clarity on details. Trump imposed tariff increases of up to 25 percent on $250 billion of Chinese imports over complaints Beijing steals or pressures companies to hand over technology. [Full Article...]

Time is running out for Sears; bankruptcy hearing Tuesday

Time is running out for Sears; bankruptcy hearing Tuesday But at a NY bankruptcy court, Sears' lawyers told a judge that the company was prepared to consider a revised offer from Sears' chairman Eddie Lampert's ESL hedge fund. Many of Sears' major creditors have said they want the company to liquidate. It was not immediately clear Tuesday how much, if any, debt forgiveness will be included in this revised offer. [Full Article...]

Samsung Warns of Profit Decline Due to Lower Demand for Memory

Samsung Warns of Profit Decline Due to Lower Demand for Memory Earnings calls are not something we normally keep a close eye on here at Ausdroid but when you see the biggest brand in Android drop 29 percent compared to the same time past year you sit up and take notice. Prices for 128 gigabit MLC NAND flash memory chips fell about 3.4 percent. DRAMeXchange anticipates memory chip prices to fall 10 percent on an average in the first quarter of 2019. [Full Article...]

Hyundai's CES concept is a WALKING CAR

Hyundai's CES concept is a WALKING CAR As a taxi, for example, Elevate could transport a person in a wheelchair easily. Hyundai has unveiled an unusual "walking" concept vehicle that it claims is the first auto with "moveable legs". "Imagine a auto stranded in a snow ditch just 10 feet off the highway being able to walk or climb over the treacherous terrain, back to the road potentially saving its injured passengers - this is th... [Full Article...]

Heathrow suspends departures after drone spotted

Heathrow suspends departures after drone spotted A Heathrow spokeswoman said the airport was working with police to "prevent any threat to operational safety". A spokesperson from the airport confirmed that a drone was sighted near or within the airport, prompting the precautionary suspension of departure flights. [Full Article...]

Elon Musk says Tesla's Shanghai factory is 'groundbreaking'

Elon Musk says Tesla's Shanghai factory is 'groundbreaking' In this light, Tesla appears set to kick off 2019 on a strong note, starting the first week of the year with more than 14,000 Model 3 VIN registrations - over 9,000 of which are cars for the European market. The push into China comes amid simmering trade tensions between Beijing and Washington. The factory, now just an expanse of muddy fields about two hours from Shanghai , will produce affo... [Full Article...]

Apple is doing a amusing job of shunning CES this year

Apple is doing a amusing job of shunning CES this year It looks like 2019 will be filled with more of the same as the company's new Vegas billboard tells visitors, " What happens on your iPhone stays on your iPhone ". Google, which operates Android, exposed the private details of 52 million users of its flop social media site Google+ in November, while last month Amazon sent 1,700 Alexa voice recordings to the wrong user following a GDPR data request. [Full Article...]

S&P slashes PG&E rating to junk status following deadly California wildfires

S&P slashes PG&E rating to junk status following deadly California wildfires Because of potential legislative aid, PG&E has not yet determined whether it will make a bankruptcy filing, Reuters reported . One option under consideration: Selling its natural gas business after a bankruptcy filing, the people familiar with the matter said. [Full Article...]

USA economy added 312,000 jobs in December, blowing past expectations

USA economy added 312,000 jobs in December, blowing past expectations But in recent weeks, financial markets have been increasingly anxious about the path of economic growth this year. Job gains were reported across all industries, with the exception of the information sector, which shed employment for the second straight month. [Full Article...]

A strong jobs report could provide reassurance on economy

A strong jobs report could provide reassurance on economy Payroll processor ADP said Thursday that private businesses added a robust 271,000 jobs in December, a sign that companies expect decent growth to continue despite the overhang of risks. Data releases from Census Bureau and Bureau of Economic Analysis have been suspended during the shutdown, which started on December 22 amid demands by Trump for $5 billion in funding for a wall on the U.S. [Full Article...]


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