Money

Saudi energy minister says oil market on right track

Saudi energy minister says oil market on right track Opec and its allies including Russian Federation are slashing production by 1.2 million barrels per day, starting from January 1, to rebalance oil markets and support prices. Last year, media reported that Aramco was planning a US$40-billion bond sale to fund the acquisition that would expand its presence in petrochemicals, but it dropped this plan. [Full Article...]

Huawei founder Ren Zhengfei says company would not share user secrets

Huawei founder Ren Zhengfei says company would not share user secrets Ren said he loved his country and was a member of the communist party. "I don't see a close connection between my personal political beliefs and the businesses of Huawei", he said. "He dares to massively cut taxes, which will benefit business", Ren said. Ren is fighting a two-pronged war of words at the moment as some western countries have begun banning the acquisition of Huawei products for ... [Full Article...]

Huawei accused of stealing from United States partners

Huawei accused of stealing from United States partners Reuters could not immediately confirm the report. The criminal investigation now underway is, at least in part, related to the previous T-Mobile allegations, the sources said. Directing the President to impose the same strict penalties originally faced by ZTE on any Chinese telecommunications firm found to be in violation of US export control laws or sanctions. [Full Article...]

These are the five biggest UK Government defeats

These are the five biggest UK Government defeats The government has suffered a crushing defeat over its Brexit deal with MPs voting not to accept it. " What is clear from the correspondence I have received, and conversations I have had with my constituents over the last few months, is that Parliament should reject the Prime Minister's deal ", she said. [Full Article...]

GM electric vehicle strategy last chance for Cadillac's success: executive

GM electric vehicle strategy last chance for Cadillac's success: executive The name of the electric vehicle as well as all additional (technical) details will follow later, closer to the launch date. The General Motors Co. GM's future EV platform, which Cadillac will be the first to use, will be flexible, allowing the company to respond quickly to customer preferences with a relatively short design and development lead time. [Full Article...]

British lawmakers reject Theresa May’s Brexit deal

British lawmakers reject Theresa May’s Brexit deal It has taken more than two years for Mrs May to negotiate the current settlement. British lawmakers will also consider four proposed amendments to May's Brexit deal before they vote on the agreement itself. Ms May now faces a no confidence vote on called by the opposition Labour Party. Last week, May warned British legislators that if the plan was rejected, a catastrophe would follow. [Full Article...]

Volkswagen, Ford form alliance to develop CVs

Volkswagen, Ford form alliance to develop CVs The deal is the latest in a string of alliances across the industry as carmakers face the need to keep up with new technologies and invest billions in research and development. But it is not as successful overseas It struggles to make a profit in Europe where VW is dominant. Ford officials said the VW pickups will initially be available only in the South American, European and African markets. [Full Article...]

Canada asks China for clemency over Robert Lloyd Schellenberg

Canada asks China for clemency over Robert Lloyd Schellenberg Trudeau suggested that China had used its judicial system to pressure Canada over the arrest of Meng Wanzhou, chief financial officer of Chinese telecommunications giant Huawei, who is also the daughter of Huawei's founder. The global outreach has sparked Chinese ire, including a scathing attack from Beijing's envoy in Ottawa that it smacks of "Western egotism and white supremacy". [Full Article...]

Top auto awards go to Hyundai and Ram

Top auto awards go to Hyundai and Ram South Korea's Hyundai Motor Group won the auto of the Year award for its Genesis G70 and SUV of the Year for Kona at the 2019 Detroit motor show, raising its hopes for a sales boost in the United States. Kamloops, B.C. -born Reid Bigland, CEO of FCA Canada, poses with the award for North American Truck of the Year next to the winning Ram 1500. Hyundai will have a lot to brag about in those c... [Full Article...]

Pound wobbles as uncertainty swirls after May's Brexit defeat

Pound wobbles as uncertainty swirls after May's Brexit defeat Now, they said, May could stop pretending that her deal had a chance of passing and move to discussing more realistic options. "Every day that passes without this issue being resolved means more uncertainty, more bitterness and more rancour", said May, reacting to the huge government loss. [Full Article...]

Congress Will Skip Next Week's Recess If Shutdown Continues

Congress Will Skip Next Week's Recess If Shutdown Continues And there is every indication it will drag on. Rep. Stephanie Murphy claimed a scheduling conflict, but also offered a similar message, saying in a statement that, while she has met with Trump at the White House before, "I continue to believe the Senate should pass and the president should sign the bills reopening government that the House already passed". [Full Article...]

Ocasio-Cortez secures spot on House Financial Services Committee

Ocasio-Cortez secures spot on House Financial Services Committee Ocasio-Cortez didn't need Sullivan to defend her, and laced into Kraushaar herself over the comparison the the president. She was referring to the Unite the Right rally in Charlottesville, Virginia, in which white nationalists and neo-Nazis clashed with left-wing counterprotesters. [Full Article...]

Trump confuses New Orleans for Nashville

Trump confuses New Orleans for Nashville Despite Trump's lofty promises, there has been great unease in the agricultural community over the ongoing trade dispute with China. Trump was expected to discuss his trade policies, which have affected farmers , and an $867 billion, 10-year the farm bill he recently signed into law. [Full Article...]

Brexit deal result: Theresa May’s plan rejected by MPs in parliament

Brexit deal result: Theresa May’s plan rejected by MPs in parliament If she fails to win the confidence vote, it could spark another general election - just 73 days before Britain is meant to leave the EU. Moments before the crunch vote, Mrs May told MPs: "Parliament gave the people a choice, we set the clock ticking on our departure and tonight we will determine whether we move forward with a Withdrawal Agreement that honours the vote and sets us on course for a... [Full Article...]

China logs record trade surplus with USA in 2018

China logs record trade surplus with USA in 2018 However, in a sign that the White House's measures are having an impact, China's exports to the U.S. sank last month. Total imports of soybeans fell 7.9 percent last year to 88 million tonnes, customs data showed, with December imports down 40.1 percent from a year earlier. [Full Article...]

Passengers dealing with long lines at Hartsfield-Jackson's TSA checkpoints

Passengers dealing with long lines at Hartsfield-Jackson's TSA checkpoints A combination of a busy travel day today combined with some security lines being closed led to the long lines, airport spokesman Andrew Gobeil said. While "mission critical" federal employees continue to go to work during the government shutdown , they are, for the first time, missing a paycheck. [Full Article...]

Concept This Is Cadillac's New Electric Crossover

Concept This Is Cadillac's New Electric Crossover Cadillac plans on releasing roughly one new vehicle every six months, including a forthcoming new performance sedan; and a refresh of its popular Escalade SUV. This will be the first model derived from GM's future EV platform. "It will represent the height of luxury and innovation while positioning Cadillac as the pinnacle of mobility", explains Cadillac president Steve Carlisle. [Full Article...]

China's Foreign Trade Tops Record $4.6Trln in 2018 - Customs

Private enterprises played a bigger role, accounting for 39.7 percent of the total foreign trade, up 1.1 percentage points compared with 2017. China's surplus with the U.S. suppliers. Renewed fears over the strength of the global economy piled pressure on stock markets and commodity prices this morning after China revealed a sharp drop in exports. [Full Article...]

PG&E to file for Chapter 11 Bankruptcy

PG&E to file for Chapter 11 Bankruptcy PG&E shares quickly fell $8.20, to $9.39, in early morning New York Stock Exchange trading. He said in a later interview that the announcement would involve appointments to the California Public Utilities Commission, the state's grid operator and to a commission established by legislature to explore wildfire issues. [Full Article...]

Lenovo takes top spot in PC market

Lenovo takes top spot in PC market Lenovo also had a strong quarter in the US. PC shipments saw their biggest year-on-year dip since 2016 in Q4 2018, according to new reports issued by market research firms IDC and Gartner . For the year, 2018 PC shipments surpassed 259.4 million units, a 1.3% decline from 2017. Lenovo maintained its status as the top OEM in the traditional PC space, and one of only two top 5 companies to p... [Full Article...]


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