Money

Newark Airport: Ground stop briefly ordered after drones sighted near Newark International

Newark Airport: Ground stop briefly ordered after drones sighted near Newark International The bi-state Port Authority of NY and New Jersey manages the airport and holds the purse strings for these kinds of potentially pricey endeavors. Normal operations resumed at the airport at around 7 p.m. It grounded flights between 19-21 December, affecting the travel of an estimated 140,000 people. 'Inbound JAX to @EWR and pilot just announced we are holding due to "possible drone activit... [Full Article...]

US to seek Huawei exec's extradition from Canada

US to seek Huawei exec's extradition from Canada If a judge decides the USA evidence is strong enough, they will issue a committal order effectively recommending extradition to the Justice Minister. She is wanted for allegedly lying to banks as part of an effort to evade sanctions on Iran. [Full Article...]

International Monetary Fund cuts Nigeria’s 2019 growth forecast to 2%

International Monetary Fund cuts Nigeria’s 2019 growth forecast to 2% Gopinath said the revision was a mere 0.2%, but conceded that the trade war between the United States and China would affect global growth rates. The lender further said China's growth slowdown could be faster than expected, particularly if trade tension continued, and that could trigger abrupt sell-offs in financial and commodity markets as was the case in 2015/16. [Full Article...]

China's economic growth slowest since 1990 amid trade war with US

China's economic growth slowest since 1990 amid trade war with US Data released on Monday showed Chinese economic growth slowing to 6.4% during the fourth quarter, the lowest in nearly a decade and the third quarter in a row of slowing growth. Many Chinese media have predicted that the 2019 job market will be the "worst-ever employment season", according to the Global Times . Some are cutting back on spending, which might worsen the downturn. [Full Article...]

China demands US drop Huawei extradition request with Canada

China demands US drop Huawei extradition request with Canada China is issuing fresh demands that the US abandon its request that Canada extradite a senior telecom executive who was detained in Vancouver last month. The letter by a wide array of China experts from around the world is addressed to Chinese President Xi Jinping. "That will lead to less dialogue and greater distrust, and undermine efforts to manage disagreements and identify common ground", th... [Full Article...]

International Monetary Fund foresees global slowdown as US-China trade spat drags on

Data released on Monday showed China's economy cooled in the fourth quarter on faltering domestic demand and bruising USA tariffs, dragging 2018 growth to the lowest in almost three decades. It said: "A range of triggers beyond escalating trade tensions could spark a further deterioration in risk sentiment with adverse growth implications, especially given the high levels of public and private d... [Full Article...]

Netflix shares fall as weak forecast dampens investor optimism

Netflix shares fall as weak forecast dampens investor optimism The results suggest that Netflix's unprecedented spending spree on new movies and shows may not pay off as quickly as expected - despite the buzz for hugely popular hits like the horror movie " Bird Box ", which was seen by 80 million subscribers. [Full Article...]

Google fined $57 million under European privacy law

Google fined $57 million under European privacy law CNIL said it had levied the record fine for "lack of transparency, inadequate information and lack of valid consent regarding ads personalisation". CNIL also took issue with the fact that Google gets users' data-processing consent through a catch-all "I agree to Google's Terms of Service" tickbox, not through fine-grained boxes that make sure users understand what they're getting into. [Full Article...]

Tesla cuts thousands of jobs to face 'very difficult' road ahead

Tesla cuts thousands of jobs to face 'very difficult' road ahead Musk has said the company needs to reach a volume of 5,000 Model 3s per week for five to six months before it can afford to sell the base, $35,000 version of the vehicle, which may have a shorter-range battery pack, no Autopilot, no glass roof, no power seats, and a non-leather interior. [Full Article...]

Trump offers temporary relief for Dreamers in exchange for border wall funding

Trump offers temporary relief for Dreamers in exchange for border wall funding Until now, the White House had said it would be open to negotiating on the amount of money it will accept for a wall, but has been noncommittal about offering other concessions to Democrats. President, and then Democrats and Republicans can have a civil discussion and come up with bipartisan solutions". As part of a package of six spending bills, House Democrats next week will vote on $1 billi... [Full Article...]

American dollar soars after reports of end of US-China deadlock

American dollar soars after reports of end of US-China deadlock European stocks jumped. Germany's DAX climbed 2.6 percent and the FTSE 100 in Britain rose 2 percent. The gains followed the lead of stocks in Asia overnight, which in turn took their cue from Wall Street's performance on Thursday. Indicators released recently showed signs that the Chinese economy is losing momentum. They demanded that China make progress in the next two years, according to Blo... [Full Article...]

Bearish and bullish drivers of oil prices in 2019

Bearish and bullish drivers of oil prices in 2019 Despite renewed hopes that a trade deal could be reached between the US and China by the March 2 deadline, it may still not be enough to offset the negative impact on China's economic growth. Oil market outlook unclear as economic uncertainty mounts. The American Petroleum Institute (API) on Tuesday reported a draw of 0.56 million barrels in the USA crude oil inventories for the week ending Ja... [Full Article...]

Ghosn received 8m euro in ‘improper’ payments: Nissan

Ghosn received 8m euro in ‘improper’ payments: Nissan The latest allegation against the former charismatic boss of the auto alliance involves the equally owned venture called Nissan-Mitsubishi B.V. established in 2017 in the Netherlands for the aim of maximizing joint operation synergies. Tokyo prosecutors have accused Ghosn of under-reporting his income by tens of millions of dollars in documents to investors based on an understanding that he woul... [Full Article...]

Jack Bogle, index fund pioneer and Vanguard founder, dead at 89

Jack Bogle, index fund pioneer and Vanguard founder, dead at 89 Most notably he inspired an entire movement of individual investors, known as the Bogleheads , in whose founding and development Morningstar.com played no small part, who found him more messianic than Quixotic and regarded his investment philosophy as gospel and his every utterance as sermons from the mount. [Full Article...]

Geely Plans To Start Building Lotus Cars In New Chinese Factory

Geely Plans To Start Building Lotus Cars In New Chinese Factory For Lotus however, this could mean increased production volumes, as well as new models such as SUVs to boost sales. "For Geely , going high-end can help it take more market share", said Alan Kang, Shanghai based analyst at LMC Automotive. [Full Article...]

Oregon Sees Huge Jump In Federal Workers Seeking Unemployment

Oregon Sees Huge Jump In Federal Workers Seeking Unemployment But DES, the state agency that manages unemployment insurance in North Carolina, did not confirm it had received those instructions until Friday. Some local government officials are taking action for the federal workers. The site warns user to "not mail proof of your federal wages to the VEC before you have completed and submitted your claim for unemployment benefits". [Full Article...]

Local Shopko Hometown stores will stay open

Local Shopko Hometown stores will stay open The closures account for nearly one third of the company's 360 stores. Steinhorst added in a news release that filing for Chapter 11 bankruptcy was hard but necessary. Last week, the company confirmed plans to close the Shopko Hometown in Seymour and the full-size department store in Menasha. "We are open for business", Shopko CEO Russ Steinhorst wrote in a letter to customers across the cou... [Full Article...]

McDonald’s loses Big Mac EU trademark battle

McDonald’s loses Big Mac EU trademark battle It said that the name " Big Mac " had been trademarked for a wide variety of products, even though McDonald's only uses it to describe its most popular hamburger. McDonald's can still appeal against the decision. This EUIPO judgement means that the main argument put forward by McDonald's is now gone. Supermac's has 116 stores, all in Ireland . [Full Article...]

U.S. lawmakers introduce bills targeting Huawei, ZTE

U.S. lawmakers introduce bills targeting Huawei, ZTE The newspaper says investigators are looking into whether the company stole technology behind a robotic device that T-Mobile used to test smartphones . Why is China's biggest technology company being targeted? Handelsblatt quoted Huawei founder Ren Zhengfei as saying his company had never received a request from a government to transmit information in violation of any regulations. [Full Article...]

Workers' unpaid bills piling up as shutdown reaches Day 26

Workers' unpaid bills piling up as shutdown reaches Day 26 Trump invited a bipartisan group of lawmakers for lunch to discuss the standoff, but the White House said Democrats turned down the invitation. When asked if she hopes Trump views the development as a outcome of the shutdown , Pelosi insisted that wasn't the case, saying Trump could give another Oval Office address if he so chose. [Full Article...]


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