Markets

Markets Saudi Arabia says oil producers want to reduce inventories
Author: 0 Saudi Arabia says oil producers want to reduce inventories

He said nobody knew what Iran was producing or exporting, adding that he believed "a lot" of Iranian oil was unaccounted for. "None of us wants to see the stocks swell again", he added, with reference to a supply surplus that sent prices sharply lower in the second half of past year.

Markets Googles restriction forces Huawei to use open-source version of Android
Author: 0 Googles restriction forces Huawei to use open-source version of Android

It is worth repeating that if you already own a Huawei or Honor device it will still have access to the Google Play Store and will still receive Google app updates, among others, as it does now. At the same time, the U.S. Commerce Department added Huawei to the Bureau of Industry and Securities Entity List , which requires U.S. companies to get the government's permission to sell or transfer technology to Huawei.

Markets Corrected: Saudi Arabia oil facilities attacked, US-Iran tensions flare
Author: 0 Corrected: Saudi Arabia oil facilities attacked, US-Iran tensions flare

Energy Minister Khalid al-Falih said Saudi Aramco had "temporarily shut down" the pipeline to "evaluate its condition" but added that oil production and exports had not been interrupted. Notably, the recent attacks come amid mounting tension between Iran and the US after the Pentagon announced the deployment earlier this week of an aircraft carrier strike group to the Persian Gulf.

Markets The Times view on China-US relations: Bad Trade
Author: 0 The Times view on China-US relations: Bad Trade

Trump had ordered the new tariffs, saying China "broke the deal" by reneging on earlier commitments made during months of negotiations. The president has been using tariffs like a cudgel to force China to the negotiating table. The damage to the booming American economy is bound to be far less than estimated, however. There are, however, scenarios in which the Chinese might pay indirectly for the tariffs.

Markets Apple loses at US Supreme Court on iPhone app antitrust suit
Author: 0 Apple loses at US Supreme Court on iPhone app antitrust suit

A group of iPhone owners were seeking to bring a class action lawsuit against the company, and now Justice Brett Kavanaugh has said they can do so. "The iPhone owners are not consumers at the bottom of a vertical distribution chain who are attempting to sue manufacturers at the top of the chain", Kavanaugh wrote .

Markets USA stocks plunge as China strikes back at U.S. with higher tariffs
Author: 0 USA stocks plunge as China strikes back at U.S. with higher tariffs

Going forward, however, the fallout from increased tariffs on Chinese goods will dampen global oil demand, as well as cause more stagnation in global growth, while Trump's indication that he could impose new tariffs on another $300 bn worth of Chinese goods could be severely damaging for global growth, especially still fragile emerging markets.

Markets How crypto hackers stole $58.76 MILLION worth of Bitcoin
Author: 0 How crypto hackers stole $58.76 MILLION worth of Bitcoin

The Taiwan-based company, one of the world's largest crypto exchanges, announced that it discovered a "large scale security breach" Tuesday. "The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time", explained CZ.

Markets Uber shares fall on stock market debut
Author: 0 Uber shares fall on stock market debut

Even the IPO price set on Thursday was a disappointment compared to some expectations. As of writing, Lyft is trading at just $52.27 from a high of more than $78. Despite's Friday's setback, Uber has been a spectacular investment for its early investors. As of this writing, Uber shares are trading at $43.29.

Markets China says ready to defend trade interests
Author: 0 China says ready to defend trade interests

American soy farmers have found themselves in the crosshairs of Chinese retaliation, and prolonging the battle will be even more damaging, Davie Stephens president of the American Soybean Association (ASA), said in a statement . The Dow lost almost 540 points during Monday and Tuesday amid the trade dispute, while the S&P 500 and Nasdaq were down more than 2% after both hit all-time highs last week.

Markets China will fight back if USA raises tariffs on imports
Author: 0 China will fight back if USA raises tariffs on imports

Sunday's (May 6th) comment came as a surprising move by USA president to mount pressure on China, since he had cited progress on trade talks as early as last Friday (May 3rd). If tariffs are going to go from 10% to 25% on $200 billion worth of goods, this might only represent an additional cost to the USA economy of about $30 billion (at a new $50 billion, versus a prior $20 billion) using straight-line math.

Markets Uber, Lyft drivers protest in cities across the US
Author: 0 Uber, Lyft drivers protest in cities across the US

The protests have been purposefully planned to take place just ahead of Uber's expected public-trading debut on Friday - one of the biggest moments in the company's 10-year history. Activists have suggested Uber may remove surge pricing for riders to make it look like the strike is not effective, or raise surge pricing on the drivers' apps to incentivize them to break the strike.

Markets Trump to raise tariffs on $200 bn of China goods
Author: 0 Trump to raise tariffs on $200 bn of China goods

The move increases pressure on China as Vice-Premier Liu He prepares to travel to Washington this week to resume negotiations. "The Trade Deal with China continues, but too slowly, as they attempt to renegotiate", Trump said in his tweet .

Markets Tesla To Raise $2.3B Capital In Long-Awaited Move
Author: 0 Tesla To Raise $2.3B Capital In Long-Awaited Move

On a call with investors earlier this month, Musk had been non-commital when asked about raising new capital for the company. Throughout its history, Tesla has raised funds through bank loans, equity sales, convertible notes, a junk bond sale, securitisation of its vehicle leases and solar asset-backed notes.

Markets Buffett finally embraces Amazon as Berkshire acquires stake
Author: 0 Buffett finally embraces Amazon as Berkshire acquires stake

While numerous preliminary events and communications are essentially cheerleading events for Berkshire Hathaway and its shareholders, there was a significant issue that has come to light. Buffett's departure is likely to open a new era at the company, especially with shares of Berkshire considered to be 10 to 15 percent above their real value thanks to the billionaire's presence at the helm.

Markets Apple offsets 17% drop in iPhone sales with services, wearables growth
Author: 0 Apple offsets 17% drop in iPhone sales with services, wearables growth

Apple has been gradually buying back a portion of its shares. The decline in quarterly sales was again due to the Chinese market. Services revenue rose to $11.4 billion from $9.8 billion in the same quarter past year. 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.

Markets Crude oil mixed, as market deals with Trump remarks
Author: 0 Crude oil mixed, as market deals with Trump remarks

In an interview with Fox Business Network that aired Monday, Mr. Mnuchin said he hopes "to get to the point where we can either recommend to the president that we have a deal or recommend that we don't". "At least India and China are not scared of United States sanctions very much, while the remaining European exporters will probably look for alternative routes to keep on purchasing oil from the Islamic Republic, avoiding the financial instruments that are under the USA control", Pushkarev ...

Markets Microsoft tops US$1 trillion valuation, sees more cloud growth
Author: 0 Microsoft tops US$1 trillion valuation, sees more cloud growth

Microsoft's stock has gained about 23 per cent so far this year, after hitting a record high of $125.85 during regular trading hours. It continues the strong performance seen under boss Satya Nadella , who has spent the past five years trying to lessen the firm's reliance on its once-dominant Windows operating system.

Markets Elon Musk Settles With SEC Over Twitter Use
Author: 0 Elon Musk Settles With SEC Over Twitter Use

Securities and Exchange Commission said in a court filing Friday that they are settling a legal dispute over how Musk posts news about his electric-car company, avoiding a decision by a federal judge in NY on whether the billionaire should be held in contempt of court.

Markets Duterte skips Belt and Road gala dinner
Author: 0 Duterte skips Belt and Road gala dinner

European countries have signaled their willingness to participate in the BRI, but key states like France and Germany have said China must in turn improve access and fair competition for foreign firms. "China will strengthen macroeconomic policy coordination with major economies in the world and strive to create positive spillover effects to promote a strong, sustainable, balanced and inclusive growth for the world economy", said Xi.

Markets Tesla is bringing back its cheaper Model S and Model X
Author: 0 Tesla is bringing back its cheaper Model S and Model X

The cause of the explosion is still unknown. However he did re-charge the car's battery at a Tesla supercharger about an hour before the fire. On Monday, Tesla said it immediately sent a team to investigate the incident, which occurred in Shanghai on Sunday evening local time.

Markets Facebook Stock Jumps 8% Despite Paying Largest Fine In FTC History
Author: 0 Facebook Stock Jumps 8% Despite Paying Largest Fine In FTC History

In its first quarter update, the company also said the number of people who checked their Facebook accounts on a daily basis jumped by 8% versus a year ago to 1.56bn. The social media giant promised in 2011 to develop safety measures to guarantee user privacy after an FTC investigation had found that it improperly handled information.

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