Money

by | October 08, 2018 | 19:09

Iran's crude exports fell further in the first week of October, according to tanker data and an industry source, taking a major hit from us sanctions and throwing a challenge to other OPEC oil producers as they seek to cover the shortfall.

by | October 08, 2018 | 07:38

On Wednesday, the global benchmark hit a late 2014 high of $86.74. Last week, India reduced gasoline and diesel prices to give relief to consumers against rising global crude prices caused by uncertainty over United States sanctions on Iran and OPEC's decision to raise output.

by | October 08, 2018 | 06:24

The historically low USA unemployment rate fell again during the month of September, but about 50,000 fewer jobs were added to the economy than experts predicted. Ambulatory healthcare services added 10,300 jobs in September, while nursing and residential care facilities added 3,400 jobs. "No-one at the Fed thinks unemployment near three percent is sustainable", Ian Shepherdson of Pantheon Macroeconomics said in a client note.

by | October 08, 2018 | 05:18

The store is one of 200 Mattress Firms that could be shuttered in the first round of closings following the company's voluntary Chapter 11 bankruptcy filing in the U.S. "As a result, many Mattress Firm stores are in direct competition with other Mattress Firm stores, resulting in disappointing sales". Two other stores will be closed in San Marcos and Murrieta.

by | October 07, 2018 | 19:16

A surge in oil prices to United States dollars 88 from the present USD 86 can push the headline inflation number up by 0.20 per cent and dent growth by 0.15 per cent, it said. The rupee slump has widened India's current account deficit, when the value of imports exceeds that of exports. While the Reserve Bank of India is widely expected to hike interest rates this Friday, there are speculations that the central bank might leave the rupee to depreciate.

by | October 07, 2018 | 17:10

U.S. West Texas Intermediate (WTI) crude futures were up just 1 cent at $75.24 a barrel. Worldwide benchmark Brent crude futures fell $1.65, or 1.9%, to $84.64/Bbl by 2:29 p.m. That puts much attention on mega producer Saudi Arabia , the de facto leader of the Organization of the Petroleum Exporting Countries. The global benchmark crude traded at a US$9.96 premium to WTI for the same month.

by | October 07, 2018 | 09:47

The central bank raised rates last week for the third time this year. The good news is the previous two months' gains were revised up by a combined 87,000 jobs, boosting the monthly average for the past year to a robust 211,400 jobs. "Wage growth, which picked up in the prior month, came in line with expectations with hourly earnings rising 0.3% on the month for an annual rate of 2.8%".

by | October 07, 2018 | 00:53

Yes, it took us a few goes before we could think about anything else. "It's important to support the only politician I can see who is actively campaigning to give people the Leave that they voted for", said Colette Wyatt-Lowe, 71, a councillor from the outskirts of London, while queueing to hear Johnson speak.

by | October 06, 2018 | 18:34

Musk , for his part, has used Twitter to mock Einhorn, saying on August 1 he would "send Einhorn a box of short shorts to comfort him through this hard time". "It's what they do", he tweeted. The deal followed the SEC's decision to sue him for alleged securities fraud . U.S. District Judge Alison Nathan on Thursday ordered the SEC, Musk and Tesla to filed documents by October 11 explaining why the agreement is " fair and reasonable ".

by | October 06, 2018 | 15:46

Following Centre's move, Maharashtra government has also announced a Rs 2.5 reduction on the petrol . He said that Rs 10,500 crore will be the impact of the excise duty cut this year. Thanking Prime Minister Narendra Modi and Union Finance Minister Arun Jaitley , Fadnavis said the reduction in fuel prices will give a huge relief to citizens.

by | October 06, 2018 | 15:44

The carmaker is recalling 2.43 million of its hybrid vehicles worldwide, including 1.25 million in Japan, 807,000 in the United States, 290,000 in Europe and 3,000 in China. Three malfunctions related to the issue were reported in Japan, with no accidents caused. The National Highway Traffic Safety Administration said it is reviewing complaints and other information provided by the public, and has been consulting with Toyota before Friday's recall.

by | October 05, 2018 | 20:45

US President Donald Trump last week accused China of attempting to meddle in the US midterm elections next month, while offering little in the way of evidence. "The Chinese military will resolutely perform its defense duties and continue to take all necessary measures to safeguard our sovereignty and the regional peace and stability", Wu said.

by | October 05, 2018 | 18:45

Aston Martin, whose top-end cars are cherished by Hollywood actors, global sports stars and British royalty, is selling 25 percent of its share capital or 57 million shares. In August, Aston Martin reported half-year profits of £42m. Eligible Aston Martin employees, customers and owners' club members based in the United Kingdom will benefit from a specific share offer.

by | October 05, 2018 | 17:23

However, the next day, Tesla's attorneys were back at the SEC requesting them for a second chance, this time with Musk's "grudging approval", the paper said . Shares of Tesla extended earlier losses after a judge issued an order to review the settlement , and were down $12.97, or 4.4 percent, to $281.83 at the closing bell on Thursday.

by | October 05, 2018 | 15:56

But he said the claim that China was working to defeat Trump at the ballot box "rings hollow" and the approach could be counterproductive. Trump has justified his tough trade policy against Beijing with accusations that China steals USA intellectual property, limits access to its own market and unfairly subsidize state-owned companies.

by | October 05, 2018 | 08:46

President Trump has proposed increased tariffs on Chinese goods - costing China perhaps billions in lost trade - in an effort to "equalize" trade between the two nations and reduce what Trump calls an untenable trade deficit. He criticized China for its militarization of the South China Sea, its trade practices and intellectual property theft, its crackdown on political opposition and religious groups at home and its political interference in the US and around the world.

by | October 04, 2018 | 17:41

Within minutes of Jaitley's announcement, Maharashtra chief minister Devendra Fadnavis tweeted saying his government had "also chose to give additional relief" of Rs 2.50 on fuel rates in the state. As on October 4, petrol prices stood at Rs 91.34 per litre in Mumbai . Jaitley said that in worldwide markets, price of crude oil is constant rising and there's uncertainity across the globe.

by | October 04, 2018 | 15:26

The greenback rose about 0.3 per cent against a basket of currencies after news that USA service sector activity raced to a 21-year high in September. The Indian rupee is the worst performing Asian currency this year, having lost more than 13 per cent. The currency pared some losses to touch a high of 72.90 per dollar on market speculation that RBI may open special dollar window for oil companies.

by | October 04, 2018 | 05:56

The new trade agreement, Trump asserted, would usher in a new dawn for the country's auto industry and transform North America into a manufacturing powerhouse and allow the United States to reclaim the supply chain that went out off-shores.

by | October 03, 2018 | 16:40

West Texas Intermediate for November delivery rose 4 cents to $75.34 a barrel on the New York Mercantile Exchange at 10:27 a.m.in London . According to Reuters , Brent futures LCOc1 settled at its highest with close to $85 per barrel price earlier this week, which is up by USD$2.25 or 2.7 percent from the previous increase.