Tuesday September 22-nd, 2020

FCA 'looking into' sterling rise before BoE rate announcement FCA 'looking into' sterling rise before BoE rate announcement

The pound spiked following the announcement - Mark Carney's last as Bank of England governor - and climbed by more than 0.4% against the dollar ( GBPUSD=X ). Some modest tightening might be needed, though, if the economy recovers as forecast. "Thin...

First Death From Wuhan Coronavirus Outside China Reported in Philippines First Death From Wuhan Coronavirus Outside China Reported in Philippines

The novel coronavirus outbreak was reported from Wuhan city of China. Hubei Province is struggling to keep up with the rapidly spreading virus. The Trump administration has declared a public health emergency and barred entry to the USA of for...

Spread of coronavirus sends markets downward Spread of coronavirus sends markets downward

The Dow Jones Industrial Average dropped 604.65 points to 28,254.79 while the S&P 500 fell 58.39 points to 3,225.27 and the Nasdaq Composite Index plunged 148 points to 9,150.94. Markets in mainland China remained closed as the USA warned against...

Employees' Unions Oppose Govt Plan to Sell Stake in LIC Employees' Unions Oppose Govt Plan to Sell Stake in LIC

For the next financial year, beginning April 1, the government expects a substantial Rs 90,000 crore revenue from disinvestment of government stake in public sector banks and financial institutions. If the LIC shares are listed on stock exchanges, ...

Optus cops $504,000 fine for email, SMS spam - Telco Optus cops $504,000 fine for email, SMS spam - Telco

It was also discovered that the telco was sending commercials emails that looked like billing notices and didn't have an unsubscribe button. The regulatory body accepted a court-enforceable undertaking from Optus that would see the telecommunicatio...

Royal Dutch Shell net profit slides 32% Royal Dutch Shell net profit slides 32%

The number of years of production left in Royal Dutch Shell's oil and gas reserves fell for the sixth year in a row in 2019 to below eight. Shell's chief executive , Ben van Beurden, said it faced "challenging macroeconomic conditions".

Norton Motorcycles enters administration, looks for new owner Norton Motorcycles enters administration, looks for new owner

Unfortunately, these efforts were not successful and the Leicestershire firm is now under the control of administrators BDO. Luckily, entrepreneur and property developer Stuart Garner came to rescue before it hit rock bottom. a material uncertainty e...

China flies citizens home to virus-hit Wuhan China flies citizens home to virus-hit Wuhan

Similar expansive restrictions have been announced by countries including Italy, Singapore , and China's northern neighbour Mongolia. But global health officials have advised against such measures. China counted 9,692 confirmed cases Friday, ...

USA economy grows at 2.1 Percent rate in fourth quarter USA economy grows at 2.1 Percent rate in fourth quarter

Gross private domestic investment fell 1.9% in the fourth quarter from a year earlier, while investment in non-residential structures fell 7% and equipment was down 1.5%. Under Trump, GDP growth has fallen well short of his campaign pledges. Earlier ...

Australia's Commonwealth Bank raises stake in pay-later fintech Klarna Australia's Commonwealth Bank raises stake in pay-later fintech Klarna

As part of this investment, CBA and Klarna will now have 50:50 ownership rights to Klarna's Australian and New Zealand business, which is expected to rival credit payment service Afterpay . CBA's Chief Executive Matt Comyn said the decision to raise...

1,000-horsepower electric Hummer to be revealed this year 1,000-horsepower electric Hummer to be revealed this year

As to National Basketball Association star LeBron James' apparent involvement in the Super Bowl ad, we'll have to watch Sunday. The all-electric vehicle will be sold through GMC , rather than a rebooted standalone HUMMER division, and is set to ...

Budget 2020: A sneak peak at CNBC-TV18's star studded coverage Budget 2020: A sneak peak at CNBC-TV18's star studded coverage

The survey was prepared by the team headed by the Chief Economic Advisor in the Ministry of Finance, Krishna Subramanian. This year, the budget will be presented on Saturday which is an off day for the Parliament. The Sensex fell 0.98 percent on July...

Why Caterpillar Stock Is Sinking After a Solid Beat on Earnings Why Caterpillar Stock Is Sinking After a Solid Beat on Earnings

The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink . Corporate insiders own 0.37% of the company's stock. Lower tax rates helped the company post quarterly adjust...

Unilever's tea biz review may not affect India unit Unilever's tea biz review may not affect India unit

The future of one of Ireland's most iconic brands, Lyons Tea, looks uncertain as its owner - the giant FMCG group Unilever - is believed to be selling its entire tea business which had sales in excess of €3bn a year ago. Among those that don't cut it...

India’s gold demand fell 9% in 2019 but set to recover: WGC India’s gold demand fell 9% in 2019 but set to recover: WGC

In 2019, jewellery demand fell 9 percent to 544.6 tonnes from 598 tonnes in the previous, while bar and coins demand dropped 10 percent to 145.8 tonnes from 162.4 tonnes in 2018. Investment in these products held up strongly throughout the first nine...

Dairy farmers celebrate signing of new trade deal Dairy farmers celebrate signing of new trade deal

Wenstrup said another huge benefit to OH will come from its manufacturing base, since he said the Buckeye State is already a big producer of iron, steel and rubber products which directly contribute to the automotive industry, and that Mexico and C...

House prices grow more than expected in January - Nationwide House prices grow more than expected in January - Nationwide

Commenting on the figures, Robert Gardner, chief economist at Nationwide , said: "January saw a further modest pick-up in annual United Kingdom house price growth to 1.9%, from 1.4% in December". Looking ahead, Nottingham - where house price inflat...

Sterling extends gains after BoE keeps rates on hold Sterling extends gains after BoE keeps rates on hold

It was Carney's last meeting as governor. After Thursday's announcement, future decisions will be guided by Andrew Bailey , now chief executive of Britain's Financial Conduct Authority, who succeeds Carney on March 16. This, along with positive la...

Crude oil prices fall as coronavirus death toll climbs, USA inventories grow Crude oil prices fall as coronavirus death toll climbs, USA inventories grow

Oil prices fell today on concerns over the potential economic impact of the coronavirus that continues to spread worldwide, while the market also considered the possibility of an early Opec meeting. The death toll rose sharply to 132 on Wednesday,...

World Health Organization declares the coronavirus outbreak is an 'international emergency' World Health Organization declares the coronavirus outbreak is an 'international emergency'

A World Health Organization ( WHO ) panel is meeting in Geneva on Thursday to assess the latest evolution in the new coronavirus , which has killed 170 people and spread from China to at least 17 other countries. 30, 2020. Italian Prime Minister...

Amazon tops 150M paid Prime members globally after record quarter Amazon tops 150M paid Prime members globally after record quarter

Bezos said the company now has over 150 million paid Prime members around the world, up from 100 million last April. The e-commerce juggernaut headed by Jeff Bezos saw its stock climb more than 13 percent after it walloped analysts expectations a...

Weak US 4th quarter GDP Weak US 4th quarter GDP

The fourth-quarter GDP figures are consistent with the Fed's two per cent growth forecast for 2020, indicating policy makers can hold the line on interest rates after three reductions in 2019. Households have spent generously over the past year as ...

Government to put Northern rail services into public ownership Government to put Northern rail services into public ownership

It was established by the UK Government's Department for Transport to fulfil the Secretary of State for Transport's requirements under Section 30 of the Railways Act 1993 - which places a duty on the Secretary of State for Transport to continue to pr...

Samsung Electronics says Q4 net profit slumps 38 percent Samsung Electronics says Q4 net profit slumps 38 percent

The vendor said fourth-quarter 2019 mobile sales fell sequentially due to dwindling new-product effects of a flagship model. For full-year 2019, the firm reported net profits of 21.7 trillion won, down 51 percent from a year ago. Sales for its semi...

Nissan partners with Uber to electrify London fleet Nissan partners with Uber to electrify London fleet

According to his own statements, Uber wants to operate their service in London exclusively with electric cars by 2025. With the Nissan deal - which is in principle open to all Uber-drivers in the United Kingdom, but is probably intended primarily...

IN CASE YOU MISSED IT