Markets

Trump says ‘good thing’ that Iran confused by USA stance

Trump says ‘good thing’ that Iran confused by USA stance The de-facto leader of OPEC, Saudi Arabia , meanwhile said that the current crude prices do not mean that the market has fully recovered, and urged a further reduction of inventories. The tensions at present are primarily ingrained in Trump's decision a year ago to withdraw from the 2015 nuclear deal between Iran and P5+1 and to impose extensive sanctions on Iran, including a halt on Iranian oi... [Full Article...]

Huawei users in SA told not to panic over Android ban

Huawei users in SA told not to panic over Android ban Google's revocation of Huawei's Android license means that Huawei can only use the open-source version of Android, known as the Android Open Source Project (AOSP ). Nevertheless, Google's decision could have an adverse impact on Huawei's sales outside of China, particularly in the West. "Whether it's someone with a brand new Huawei P30 Pro , which was unveiled last month, or the owner of an ... [Full Article...]

Oil prices rise, gains tempered by US-China trade tensions

Oil prices rise, gains tempered by US-China trade tensions Saudi Minister of Energy Khalid Al-Falih said in a statement that the attacks caused a fire at the No. 8 station with limited damage. One of the earliest attacks on oil installations and pipelines in Saudi Arabia was staged by auto suicide bombers who detonated in an oil refinery in eastern Saudi Arabia, killing a security man and thwarting Saudi Arabia in November. [Full Article...]

Trump prepares more tariffs as China retaliates

Trump prepares more tariffs as China retaliates World stocks held near two-month lows on Tuesday as slightly more optimistic comments from US and Chinese officials on trade brought some comfort, a day after equities suffered their worst selloff so far this year. Kudlow had claimed China would pay for most of the increased costs, but Wallace quickly corrected him, saying: "But Larry, that isn't true". U.S. President Donald Trump takes part... [Full Article...]

IPhone owners can sue Apple for monopolizing App Store

IPhone owners can sue Apple for monopolizing App Store They were joined by one of the court's five conservatives, Justice Brett Kavanaugh , who wrote the majority opinion . Consumers can pursue a lawsuit complaining that iPhone apps cost too much, the Supreme Court ruled on Monday, adding to Apple's woes that already include falling iPhone sales and a European investigation. [Full Article...]

China Is Raising Tariffs on $60 Billion of US Goods

China Is Raising Tariffs on $60 Billion of US Goods China's finance ministry said it plans to set import tariffs ranging from five percent to 25 percent on 5,140 USA products on a target list worth about $60 billion. The next US election is 18 months away. China has the resolution, courage, and confidence to rise to all sorts of challenges, they said. "We're in terrific shape in order to correct 20 years plus of unfair trading practices with... [Full Article...]

Binance Reveals Hack Information as Security Becomes a Public Concern

Binance Reveals Hack Information as Security Becomes a Public Concern Please also understand that the hackers may still control certain user accounts and may use those to influence prices in the meantime. "But we believe with withdrawals disabled, there isn't much incentive for hackers to influence markets". Besides this, around $400 million were lost by Coincheck, because of hacking, in 2018. In the previous week, the bitcoin price has increase by about 13.5% in ... [Full Article...]

Uber Moves Backward In Its IPO

Uber Moves Backward In Its IPO Lyft's shares closed Thursday 23% below its IPO price of $72 in April. -China trade worries. Moreover, smaller rival Lyft Inc's shares plunged this week after its first earnings as a public company. Ride-hailing giant Uber failed to take off like fellow tech peers when it started trading on the New York Stock Exchange. The IPO came in at the lower end of Uber's targeted price range of $... [Full Article...]

Asia stocks slip, bonds rally on fears China-US trade deal unravelling

Asia stocks slip, bonds rally on fears China-US trade deal unravelling President Donald Trump said on May 8 that he would be happy to leave import tariffs on China in place. Negotiations between the US and China were scheduled to continue in Washington on Thursday, and to include China's top trade official. [Full Article...]

China vows to take 'necessary countermeasures' after U.S. tariff hike, stalling talks

China vows to take 'necessary countermeasures' after U.S. tariff hike, stalling talks China's Commerce Ministry said in a short statement that it hoped the USA could meet China halfway and resolve the issue through cooperation and consultation . He also said he would go further and slap 25 percent tariffs on another $325 billion in Chinese imports, covering everything China sells in the United States. [Full Article...]

Trump says China's vice premier coming to U.S. to 'make a deal'

Trump says China's vice premier coming to U.S. to 'make a deal' Because of that, he said the 10 percent tariff on $200 billion of goods will go up to 25 percent on Friday and $325 billion of additional goods will shortly be taxed at a rate of 25 percent. One private-sector source briefed on the talks said the last round of negotiations had gone very poorly because "China got greedy". A full-blown trade war would shave off 45 basis points from global economic g... [Full Article...]

Uber and Lyft drivers launch strike to protest pay and job security

Uber and Lyft drivers launch strike to protest pay and job security Still, drivers say it's hard to make ends meet in major markets on that wage. Many drivers in San Diego are expected to strike throughout the day Wednesday, with picketing and a rally starting at 11 a.m.at Lindbergh Field's Transportation Island at Terminal 1. [Full Article...]

Are Oil Prices Sending a Bearish Signal to the Stock Market?

Are Oil Prices Sending a Bearish Signal to the Stock Market? On U.S. -China trade front, accusing China of backtracking on commitments in trade talks, the U.S. has threatened to further increase U.S. trade tariffs on Chinese goods. Prices rose on the data, with US crude futures up 53 cents to $61.93 per barrel as of 10:53 a.m. EDT. Oil futures gained 1% on Wednesday, boosted by a surprise drawdown in USA crude stockpiles, but an escalating U.S. [Full Article...]

Trump threatens to increase tariffs on China

Trump threatens to increase tariffs on China Prospects looked positive after the 10th round of trade talks in Beijing concluded on May 1, after White House press secretary Sarah Sanders said in a statement : "Today, Ambassador Lighthizer and Secretary Mnuchin concluded productive meetings with China's Vice Premier Liu He". [Full Article...]

Elon Musk Makes $500 Billion Autonomy Pitch to Investors

Elon Musk Makes $500 Billion Autonomy Pitch to Investors Along with Musk's own share purchase plan, Tesla is looking to offer $1.35 billion worth of convertible senior notes that would be then due in five years. With respect to the notes, Tesla intends to enter into convertible note hedge transactions and warrant transactions to limit dilution of its common stock. [Full Article...]

Billionaire Warren Buffett's Clue Hints At New Successor

Billionaire Warren Buffett's Clue Hints At New Successor Buffett told the FT in an interview last week that he has struggled to find investments that could make a meaningful impact to Berkshire's bottom line given the conglomerate has US$700b in assets, with US$112b of that in cash and cash-like securities. [Full Article...]

Down 17%, iPhone Sales Drop at Record Pace

Down 17%, iPhone Sales Drop at Record Pace Mac revenue was down 5 percent year over year but management said it believed revenue in the segment would have been up year over year if it weren't for processor constraints during the quarter. With iPhones being more expensive than ever , it's understandable that even some of Apple's biggest fans are choosing to skip upgrading their models every year. [Full Article...]

Oil climbs, shaking off Trump calls for OPEC to offset Iran sanctions

Oil climbs, shaking off Trump calls for OPEC to offset Iran sanctions Brent hit a six-month high above $75 last week because of tightening global markets amid US sanctions on Iran and Venezuela coupled with Russian oil export problems stemming from a contaminated pipeline. "400,000 to 500,000 barrels per day (bpd) of crude and condensate will proceed to be exported", stated power consultancy FGE, down from about 1 million bpd presently. [Full Article...]

Google ad-revenue growth slows, as competition from Amazon heats up

Google ad-revenue growth slows, as competition from Amazon heats up The earnings took a hit from a European Commission fine that amounted to $1.7 billion at the end of March, according to the quarterly update. This compares to the year-ago quarter when earnings came to $13.33 per share on revenue of $31.15 billion. [Full Article...]

Microsoft tops trillion dollar mark for first time

Microsoft tops trillion dollar mark for first time MSFT ) reported the results of its fiscal third quarter (which ended March 31) on Wednesday, and the tech bellwether proved once again that its combination of business software and cloud-computing continues to gain ground. "We saw demand for Azure across all of our geographic regions and among companies of all sizes", including BMW AG and RenaultNissan, she said. Total revenue rose 14 pe... [Full Article...]


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