Sunday September 27-th, 2020

Stocks gain on global trade optimism, European Central Bank stimulus Stocks gain on global trade optimism, European Central Bank stimulus

US President Donald Trump tweeted saying "The ECB is trying, and succeeding, in depreciating the Euro against the VERY strong Dollar, hurting US exports". The pound initially jumped 0.3 per cent against the euro on the news to hit €1.1239, as the...

France says it will block Facebook's Libra cryptocurrency in Europe France says it will block Facebook's Libra cryptocurrency in Europe

France's announcement comes shortly after Portugal's government said that it will not impose taxes on crypto trading and payments. Earlier this year, Facebook unveiled plans for a new global cryptocurrency called Libra , pledging to deliver a ...

India`s IIP growth at 4.3% in July, August retail inflation at 3.21% India`s IIP growth at 4.3% in July, August retail inflation at 3.21%

The previous high was 3.38% in October 2018. Overall inflation in the food basket, measured on the basis of consumer food price index (CFPI), rose to 2.99 per cent in August 2019, in comparison to 2.36 per cent in July 2019. The retail inflation ...

Popeyes offers a playful solution to its chicken sandwich shortage Popeyes offers a playful solution to its chicken sandwich shortage

Lines wrapped outside some Popeyes Chicken restaurants. "Try our new BYOB!" The imitation sandwich will not include pickles or mayo. "Really it's just three tenders ..." "Chick Fil A never runs out of sandwiches", jabbed another. As hungry custom...

Huawei CEO Considers Selling Their 5G Technology to a Western Buyer Huawei CEO Considers Selling Their 5G Technology to a Western Buyer

Interestingly, the source codes could be modified as the buying company wishes so none of the security concerns previously raised about Chinese espionage would apply. Huawei has been a target of USA lawmakers over concerns about its links with the C...

U.S. core inflation firms in August; weekly jobless claims fall U.S. core inflation firms in August; weekly jobless claims fall

But the firming inflation trend, if sustained, could constrain the Fed's ability to ease monetary policy further. The industrial production growth slowed to 4.3 percent in July, dragged mainly by manufacturing sector's poor show, while retail infla...

European Central Bank lowers deposit rate to minus 0.5 percent

European Central Bank chief Mario Draghi said in July that uncertainty caused by trade tensions and "the possibility of a hard Brexit" was weighing on the eurozone economy. In fact, with an interest rate of -0.5%, the Euro will continue to strug...

ECB Cuts Rates, Announces New QE Program, EURUSD Slumps Below 1.10

ECB President Mario Draghi made the announcement Thursday to address the growing instability in the European economy. The letter included a translation into English of a motion passed by Dutch parliament that says offering banks "tiered", or prefe...

Oil Slumps on Iran Fear Factor, OPEC’s Weak Demand Outlook Oil Slumps on Iran Fear Factor, OPEC’s Weak Demand Outlook

Despite the OPEC-led cut, oil has tumbled from April's 2019 peak above $75, pressured by trade concerns and an economic slowdown. Two OPEC delegates said deeper cuts could indeed be discussed on Thursday, when some OPEC+ ministers meet for a mark...

Donald Trump praises China's tariff exemptions as trade talks approach Donald Trump praises China's tariff exemptions as trade talks approach

It comes a day after US President Donald Trump said he would delay a planned hike in tariffs on $250 billion worth of Chinese goods until October 15. In a sign of the pressure being felt by the Chinese economy, the central People's Bank of China sa...

Hy-Vee recalls Asian Mealtime items for undeclared milk allergen

Out of an abundance of caution, Hy-Vee removed the product from the shelves of its stores as soon as it discovered the situation, according to the press release from Hy-Vee. The FSIS says it has not received any reports of adverse reactions due to th...

New Saudi oil minister says no radical change in policy coming New Saudi oil minister says no radical change in policy coming

Previous supply cuts have mostly succeeded in bolstering prices. Offering a glimpse into how he's approaching the job of energy minister, Prince Abdulaziz described himself as a "kitchen or basement man". Meanwhile, global oil demand growth is ...

Trump mulls $15b bailout plan for Iran if complies with nuclear deal Trump mulls $15b bailout plan for Iran if complies with nuclear deal

Immediately after Bolton's departure, US Secretary of State Mike Pompeo said on Tuesday that Trump could meet Rouhani at an upcoming United Nations meeting with "no preconditions". As a result of these tensions, Pompeo excluded Bolton's team from d...

Gold gains, focus shifts to central bank policy meetings Gold gains, focus shifts to central bank policy meetings

The bond moves come as market participants look toward Thursday's European Central Bank meeting, which is widely expected to deliver a cut to interest rates and point to further bond-buying stimulus. The BOJ meets the subsequent day. President Dona...

Fed Members 'Boneheads' For Not Quickly Cutting Rates Fed Members 'Boneheads' For Not Quickly Cutting Rates

Those who approach monetary policy from a free market perspective mistrust-and see as inherently artificial and manipulative-using Federal Reserve interest rate policy to satisfy short-term political goals. "But the Fed can still go too low; and ever...

Tesla claims one track record, plans to go for another Tesla claims one track record, plans to go for another

Though Musk brushes off the idea that the scrapping of a record-attempt was his idea or due to needing time to "review and tune" the Model S in question, the real reason is that he never had secured anything and went off half-cocked. He also gave a...

BA flights continue to be affected despite end of pilots strike BA flights continue to be affected despite end of pilots strike

BA has chose to cancel nearly all its flights for the second day in a row, it announced in a statement identical to the one issued Monday. British Airways sincerely regrets that flights to and from Bermuda today and tomorrow are cancelled due to th...

Median Household Income Barely Budged in 2018 -Census Median Household Income Barely Budged in 2018 -Census

The poverty rate for women fell to 12.9 per cent in 2018 from 13.6 per cent in 2017, while the poverty rate for men was 10.6 per cent in 2018, not statistically changed from 2017. Democrats are laying the blame Trump, long accusing his administration...

Gold could soar to new record high, Citigroup says Gold could soar to new record high, Citigroup says

We discuss investing in gold with Euro Pacific Capital CEO Peter Schiff , U.S. Global Investors CEO and CIO Frank Holmes and VanEck's Deputy Portfolio Manager for Gold Imaru Casanova. Fundamental backdrop is still broadly gold-supportive considering...

A first look at Land Rover’s new Defender A first look at Land Rover’s new Defender

Land Rover is making the new Defender available in both the 90 and 110 sizes, along with a number of different design packages, each with its own interior and exterior trim options. This is aluminium monocoque structure three times stiffer than body...

British PM remains opposed to Northern Ireland-only backstop -DUP British PM remains opposed to Northern Ireland-only backstop -DUP

She said that Brexit is the greatest threat and challenge faced by Ireland in a generation. "So It's time to call Mr Johnson's fantasy for what it is - profoundly stupid and immeasurably unsafe". Ms McDonald said the stakes are very, very high and ...

China exempts 16 types of United States goods from additional tariffs China exempts 16 types of United States goods from additional tariffs

An exemption list of just 16 items will not change China's stance. State-run Global Times editor-in-chief Hu Xijin said on Twitter that China will announce moves to ease the negative impact of the trade war before the exemption list was announced.

Trump's Approval Rating Drops To 38 Per Cent Amid Worry Over Economy Trump's Approval Rating Drops To 38 Per Cent Amid Worry Over Economy

According to the Post/ABC findings, voters are deeply opposed to the way he has handled the intensifying trade war with China. Trump also gets bad marks for his handling of the economy - 47 percent disapprove to 46 percent who approve - and trade...

Hong Kong Exchanges and Clearing proposes merger with LSE Hong Kong Exchanges and Clearing proposes merger with LSE

Shares in London Stock Exchange Group surged 10 per cent after the approach was revealed but settled back at 5 per cent up by lunchtime. Richard Hunter, head of markets at interactive investor , said that while a merger between the LSE and HKEX ...

Albertsons asks customers not to carry guns in stores openly Albertsons asks customers not to carry guns in stores openly

Kroger stopped selling guns at their Fred Meyer stores past year. "We see our grocery stores as a hub in local communities & we're proud to serve our neighbors", Albertsons wrote in a tweet Saturday on its corporate account. We've made this decisio...

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