Monday, 19 August 2019
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What is the yield curve-and why it matters

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Japan's Nikkei 225 ( ^N225 ) trailed almost 1.5% lower, while Hong Kong's Hang Seng Index ( ^HSI ), and China's Shanghai Composite (000001.SS) were down for most of the day, recuperating to trade flat at the send of the session. The Dow Jones Industrial Average .DJI fell 8.38 points, or 0.03%, to 25,471.04. he S&P 500 .SPX gained 1.73 points, or 0.06%, to 2,842.33 and the Nasdaq Composite .IXIC dropped 14.23 points, or 0.18%, to 7,759.71. Read More »

Acura Type S Concept Previews Two New Performance Models

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The company's VP, Jon Ikeda, even calls it " instrumental in our mission to return Acura to its performance roots ", a mission that started a while back with the launch of the NSX . While it's primarily form and not so much function that Acura has focused on here, the Type S Concept doesn't completely put engineering aside. "We've been dreaming about a new performance-focused Acura concept auto since the Precision Concept debuted". Read More »

China says it may retaliate against new United States tariffs

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He said USA and Chinese officials had "a very good conversation" earlier this week before his administration delayed the tariffs. At the start of this month, U.S. Trump said some of the new tariffs will be delayed until December so retailers can import Christmas merchandise without worrying about extra tax. Apple shares, whose iPhone is affected by the tariffs, rose more than 6%. Read More »

Turkey's military pension fund reaches British Steel deal

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British Steel employs 5,000 people, including 3,000 at its site in Scunthorpe and a further 800 in nearby Teeside. At the time it went into liquidation, the Government chose not to provide previous owner Greybull Capital with a 30-million pound rescue package. Read More »

FTSE 100 and 250 open delayed, LSE investigating issue

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It gave no further details and says it will provide updates as soon as it has any further information. In June previous year, the LSE opening was delayed by an hour due to a software issue. On Thursday, the FTSE 100 index fell to a six-month low amid concerns about the impact of the trade war between China and the USA on the global economy. Read More »

Oklahoma unemployment unchanged in July

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Alaska had 400 more federal jobs and 300 more state government jobs than in July of a year ago, with much of the growth coming from the Alaska Department of Natural Resources, the federal Bureau of Land Management and other agencies responding to a busy fire season. Read More »

Virgin Galactic: "Spaceport is ready"

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During an interview in May, Branson said that they are not just talking about sending people to space, but also talking about bringing about family and friends. More than 600 people have already paid $80m in deposits to the company to secure their tickets on the first spaceflights. Just how soon customers will file into Virgin Galactic's newly outfitted digs for the first commercial flights to space has yet to be determined . Read More »

Fed's Kashkari says rate cut likely needed to help US economy

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Cleveland Fed President Loretta Mester said that she would have preferred the Fed to keep rates steady at its July meeting, but "it's a close call". The inversion of key parts of the Treasury yield curve, in which investors in short-term holdings get paid more than those in long-term ones, has historically been a reliable indicator of a coming recession. Read More »

Beijing supporters clash with 1,000-strong pro-democracy rally in Trafalgar Square

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Ten weeks of demonstrations have plunged the worldwide finance hub into crisis, with communist-ruled mainland China taking an increasingly hardline tone, including labelling the more violent protester actions "terrorist-like". Members of China's paramilitary People's Armed Police force have been training this week across the border in Shenzhen, fueling speculation that they could be sent in to suppress the protests. Read More »

Recall alert: Tyson Foods recalls almost 40,000 pounds of chicken patties

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They include the number "P-13456" on the back of the packaging. The affected products have plant code "P-13456" near the UPC and a "best if used" by date of January 31, 2020. Anyone concerned about illness or injury should contact their health-care provider, the USDA said. If you're unsure if the Tyson chicken in your freezer is affected, you can find the exact labels to look out for here . Read More »

Wall Street opens sharply higher led by technology shares

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Investors have been ploughing money into the safety of USA government bonds for months amid growing anxiety that weakness in the global economy could sap growth in the US. "After the one-day upside wonders, the dominant trend then re-asserts itself as we are seeing today", Donald Selkin, chief market strategist at Newbridge Securities, told The Post. Read More »

Oil prices rise as concerns for recession ease

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Before the OPEC monthly report, Brent touched a session high of $59.50 and USA crude traded at $55.67 as investors expect further interest rate cuts from the Federal Reserve and moves by the European Central Bank next month to fight softening growth. Read More »

Armed police drill only minutes from Hong Kong border

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The largely peaceful rallies attended by tens of thousands of Hong Kong residents have increasingly concluded in clashes between some protesters and police. "What we are fighting for is democracy and our rights". After gathering peacefully in the Central business district, the teachers marched on the Government House residence of Hong Kong's embattled leader Carrie Lam, chanting "Hong Kong police know the law, they break the law". Read More »

Warren Buffet’s Berkshire Hathaway Increases Amazon Stake by 11%

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Berkshire Hathaway said in filings with the Securities and Exchange Commission on Wednesday that it owned 537,300 Amazon shares at the end of June, up from 483,300 shares. But in recent years, Berkshire has become a major investor in Apple and now Amazon. Buffet's bank holdings in Wells Fargo and J.P. Morgan Chase have remained the same this quarter after Berkshire disclosed an 18% increase in J.P. Read More »

Global stock markets rally as Trump plays Santa on tariffs

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USTR is also removing other items from the list based "on health, safety, national security and other factors". However, for some of that gear, the tariff hike will be delayed to December 15 , according to the United States Trade Representative a few hours ago. Read More »

Alibaba's results beat estimates, Q1 revenue up 42 pc at $16.32B

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The e-commerce business also benefited from continued expansion overseas, such as the takeover of Trendyol in Turkey and Lazada's expansion in southeast Asia, as well as Tmall's annual shopping event in early June. The company's shares have increased by nearly 19 percent since the beginning of the year, with prices closing at $166.75 per piece on Thursday. The company did not offer any guidance in the report. Read More »

Passenger Vehicles Sales Slump 31% In July

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This is the biggest decline in vehicle sales since December 2000 when it had plunged by 21.81 per cent. Motorcycle and scooters sales fell 16.8 per cent to about 1.51 million units, while passenger auto sales dived 36 per cent to 122,956 units, the data showed. Read More »

WeWork Down Nearly $2 Billion Ahead of IPO Filing

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But WeWork has awarded him unusual privileges that go beyond what most stock market investors are accustomed to, corporate governance experts said. The financial disclosures make it clear that WeWork - which, it should be said, is a commerce office leasing company and not truly a tech company - shares the hallmarks of Uber Technologies and other high-profile young technology start-ups. Read More »

Cathay Pacific boss quits after protest row

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The protests began over plans that would have allowed extradition from Hong Kong to mainland China , but they have broadened into a pro-democracy movement concerned about China's growing influence in the city. However, China's Civil Aviation Administration said this week it would ban Cathay Pacific staff from supporting or participating in "illegal demonstrations" in the region. Read More »

FDA Proposes New Graphic Warnings On Cigarette Packages

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While the new rule only applies to traditional combustible cigarettes, and not the e-cigarettes and flavored cigars that are growing more popular with younger populations, advocates believe that the graphic warnings will play an important role in discouraging people from adopting the more unsafe products. Read More »

Carnage on Wall Street as yield curves invert

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In raising interest rates four times a year ago "the Federal Reserve acted far too quickly, and now is very, very late" in cutting borrowing costs, the president tweeted. Amid concerns that American consumers were being hurt by higher prices on Chinese products heading into the important holiday season, Trump opted against raising tariffs on some electronic goods. Read More »

US Treasury yield curve inverts as recession fears grow

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Such bank shares include those of Bank of America, Citigroup and JP Morgan. All three major US indexes closed down about 3%, with the blue-chip Dow posting its biggest one-day point drop since October, major equity indices in Europe closed down 2% or near that while crude prices slumped nearly 5% at one point. Read More »

President Trump, "Fed Behind Market Turmoil, Not Trade War"

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Louis Federal Reserve President James Bullard said on Thursday. The stock tumble came after the bond market triggered its first recession warning since 2007-the year before the Great Recession devastated world financial markets. Trump blamed the Federal Reserve for Wednesday's market dive, branding Fed Chairman Jerome Powell as "clueless" for not easing monetary policy as central banks in other countries have done. Read More »

Trump wants United States to buy Greenland

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Lying between the North Atlantic and Arctic oceans, Greenland is mostly self-ruled, though Denmark remains in charge of foreign affairs, defense and monetary policy. In a series of Thursday morning tweets , Trump shared a story from the conservative Washington Times stating that Lewandowski would join the president on stage at his "Keep America Great" event in the Granite State. Read More »

Your MacBook Pro might've just been banned from flights by the FAA

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KitGuru Says: I happen to own an affected MacBook Pro 2015 model, so I guess I won't be taking it over to the U.S any time soon. An Apple Macbook Pro with Touch Bar. Sold between September 2015 and February 2017. "EASA was informed of this recall notice on July 31, 2019 and assessed that it falls within the scope of applicability of its existing SIB 2017-01, which contains general recommendations regarding the transport by air, as cargo and by passengers, of damaged, recalled, defective ... Read More »

GE stock tumbles as Madoff whistleblower slams its accounting

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A disclaimer in the report stated that it was drafted by Forensic Decisions PR LLC, which will get compensation from a third-party entity that could benefit from a decline in GE's share price. GE called it "meritless, misguided and self-serving speculation". GE blasted the report as "market manipulation". "The report contains numerous novel interpretations and downright mistakes about the actual accounting requirements, making his conclusions about GE's reporting questionable at best", ... Read More »

South Korea Says North Fired More Projectiles Into the Sea

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The weapons the North tested in recent weeks included a new rocket artillery system and what security analysts say are two new short-range mobile ballistic missile systems that would potentially expand its ability to strike targets throughout South Korea , including USA bases there. Read More »

Dow plunges 800 points after bond market flashes recession warning sign

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Several negative signs are weighing on markets: The yield curve flashed a recession warning sign Wednesday. China's threat to impose counter-measures in retaliation for the latest U.S. Those concerns helped drive the yield on the 10-year Treasury down as low as 1.48% Thursday from 1.58% late Wednesday. The dollar recovered from early weakness but a gauge of world equity performance edged lower on Thursday as concerns about global growth offset investor optimism over a surge in US retail ... Read More »

After US postpones tariffs, China makes no concessions

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According to Bloomberg , China's State Council Tariff Committee issued a statement Thursday, saying that Beijing has "has no choice but to take necessary measures to retaliate". He tweeted before the Thursday announcement that China wants both sides to respect the consensus reached when Trump and Xi met in Osaka in June. "Core CPI was a bit higher-than-expected and anything that decreases the odds of the Fed being aggressive in cutting rates is going to be viewed as a negative", said ... Read More »