Wednesday January 26-th, 2022

EIA Report Raises Concerns About Oversupply on Top of Demand Worries EIA Report Raises Concerns About Oversupply on Top of Demand Worries

Both Brent and USA crude lost about 6% on the week after a series of signals that showed markets still have an abundance of supply. "The decline is triggered by a series of unfortunate events: a surge in Covid-19 cases worldwide, the end of the p...

EU Leaders Call on United Kingdom to Fully Implement Brexit Bill EU Leaders Call on United Kingdom to Fully Implement Brexit Bill

Brussels has also made clear that the future of trade talks are at risk of collapse if Mr Johnson does not perform a U-turn - but Michael Gove has vowed the Government will not be changing course. But this way of negotiating, with reason cast aside i...

Maserati hints at mind-blowing all-electric MC20 super sports auto

The 3.0-litre twin-turbo engine will also power the Maserati MC20 supercar , which was launched last night, the 9 September. Maserati presented the new MC20 (aka " Maserati Corse 2020 ") at home in Modena to make sure everyone understands the co...

Consumer prices in USA keep recovery in August Consumer prices in USA keep recovery in August

Because of that change, many officials believe the Fed will leave its benchmark interest rate, which influences many consumer and business loans, at a record low near zero at its meeting next week and for the foreseeable future as it tries to boost t...

Economy grew by 6.6 per cent in July as lockdown measures eased Economy grew by 6.6 per cent in July as lockdown measures eased

Tombs said he expects the United Kingdom economy to still be 5% below its peak by the end of the year and said it was likely both the Bank of England and the Treasury would have to take additional measures to stimulate growth. 'All areas of manufactu...

Rare white diamond up for auction in Hong Kong Rare white diamond up for auction in Hong Kong

This morning Sotheby's announced it will offer a rare 100 carat stone for sale without reserve, meaning it will accept the highest bid that comes in for it regardless of how it compares to the actual value of the stone. The lack of a bidding threshol...

United Kingdom economy continues recovery in July but remains below pre-pandemic levels United Kingdom economy continues recovery in July but remains below pre-pandemic levels

In the first and second quarter, however, GDP shrank, on a quarterly basis, by 2.2% and 20%, respectively. Thomas Pugh, UK economist at Capital Economics , said the 6.6% monthly rise in GDP, although a little slower than July, "still suggests th...

Lucid Air: Price, Launch Date, And Variants Of The Model S Rival Lucid Air: Price, Launch Date, And Variants Of The Model S Rival

The luxury electric auto is set to begin production at a new factory in Casa Grande in the spring. Launching in the USA next year, a United Kingdom arrival date for the Lucid Air premium saloon is yet to be fixed, but the carmaker - which will pr...

Rio Tinto CEO goes in wake of ancient site destruction Rio Tinto CEO goes in wake of ancient site destruction

The caves showed evidence of continued inhabitation for 46,000 years. All three executives will still be entitled to long-term bonuses this year, although they are also subject to financial penalties as a result of an earlier board review of the bl...

Tesla to commence shipping vehicles from its China-based factory Tesla to commence shipping vehicles from its China-based factory

In August, Musk said up to 70 different pieces will be replaced by die-casting - and Tesla has already ordered at least two machines, reports The Driven. Tesla's forthcoming factory needs to be efficiently and environmentally integrated into the...

Maserati names new small SUV 'Grecale', details EV plans

Previously, engines were built for the brand by Ferrari . It proved itself by winning 6 team titles, 2 constructor's cups and 6 drivers cups. With plunging sales over the last few years and the coronavirus pandemic hitting globally, Maserati is ...

Foodtech Unicorn Zomato Raises $102 million from Tiger Global Foodtech Unicorn Zomato Raises $102 million from Tiger Global

The investors are part of a $525 million round that, as per a filing with India's company regulator, values the startup at $3.4 billion. This is in addition to the $62 million it raised from sovereign fund Temasek earlier in September.

Lululemon reports £67.14 of net income in the fiscal second quarter Lululemon reports £67.14 of net income in the fiscal second quarter

The yoga and workout wear retailer's adjusted earnings per share were $0. SG&A expenses were approximately $353 million, or 39.1 percent of net revenue in Q2, compared to 36 percent of net revenue in the year-ago quarter. In the first quarter, stat...

The UK strikes post-Brexit trade agreement with Japan The UK strikes post-Brexit trade agreement with Japan

The Department for International Trade said the accord, which largely replicates the current EU-Japan deal, will be worth £15.2 billion ($19.5 billion, 16.5 billion euros). The U.K. benefited from the EU-Japan free trade agreement and needed a deal t...

LVMH to counter sue Tiffany over troubled deal

The world's biggest luxury group said it "was surprised by the lawsuit filed by Tiffany " against in a DE court, and "considers that this action is totally unfounded", according to a regulatory filing on Thursday. The latter has responded immedi...

Citigroup becomes 1st major U.S. bank to appoint a woman CEO Citigroup becomes 1st major U.S. bank to appoint a woman CEO

Her rapid rise prompted speculation that the CEO job was within reach. Seen as a rising star in the banking world, she was considered during Wells Fargo's recent search for a new leader. Corbat, who has been with Citi for 37 years including the last ...

Elon Musk doesn't recognise his own child's name during interview Elon Musk doesn't recognise his own child's name during interview

Then they revealed they'd changed the baby's name, to X Æ A-Xii. Musk became a parent on May 4, along with his partner Grimes , and his son's name had made headlines. "What is the baby's new name?" Grimes previously broke down the meaning of the...

European Union issues ultimatum to United Kingdom: withdraw bill or trade talks collapse European Union issues ultimatum to United Kingdom: withdraw bill or trade talks collapse

Prime Minister Boris Johnson appealed to lawmakers in his Conservative Party on Friday (Sept 11) to back a trade Bill his government has admitted would break global law, saying it was needed to protect Britain. Lawmaker Tobias Ellwood, who chairs...

United Kingdom reaches historic post-Brexit trade deal with Japan

Financial services firms, food producers, coat-makers and biscuit bakers - as well as cheese producers - would benefit from the agreement which represented an "important step" towards Britain joining the Comprehensive and Progressive Agreement for Tr...

Oil prices edge up off three-month lows, but demand concerns persist Oil prices edge up off three-month lows, but demand concerns persist

The American Petroleum Institute reported inventories rose by nearly 3 million barrels last week, according to people familiar with the data. West Texas Intermediate crude slipped 1.89 percent at $37.33 per barrel, while Brent crude , the London...

After negotiations falter, Senate to vote on Republican bill addressing coronavirus pandemic After negotiations falter, Senate to vote on Republican bill addressing coronavirus pandemic

The vote was 52 to 47, and 60 votes were needed to advance the legislation for debate and a full vote on the Senate floor. Democrats argued the measure didn't go far enough to help Americans ailing from economic shutdowns related to the coronavir...

European Union considers legal action as United Kingdom unpicks Brexit deal European Union considers legal action as United Kingdom unpicks Brexit deal

The UK government has published a controversial bill which overrides elements of the Brexit deal with the European Union (EU), despite a senior minister explicitly acknowledging that the plan would break global law. The top civil servant in the gover...

Asian Stocks Track U.S. Gains as Tech Rebounds: Markets Wrap

The overnight Nasdaq gains followed an 11% rout that took it down to its 50-day moving average, a closely-watched technical level. Computer chip and hardware makers rose, led by Advanced Micro Devices Inc. The gauge rose 2% on Wednesday. The MSCI A...

Bank of Canda keeps key interest rate target on hold Bank of Canda keeps key interest rate target on hold

Macklem also has stated the central bank stands ready to perform whatever is essential to help the market as it recuperates in the COVID-19 catastrophe. Household spending rebounded sharply over the summer, with stronger-than-expected goods consumpti...

EPFO Decides to Credit Part of 8.5% Interest for FY20 to 6 Crore Subscribers EPFO Decides to Credit Part of 8.5% Interest for FY20 to 6 Crore Subscribers

For now, the EPFO will pay interest rate at 8.15 per cent and remaining 0.35 per cent will be credited by December, the ministry noted. The Finance Ministry has been nudging the EPFO to reduce the rate to sub-8 per cent level in line with the overa...

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