Markets

Markets Trump says asking SEC to consider ending quarterly earnings reports
Author: 0 Trump says asking SEC to consider ending quarterly earnings reports

Jay Clayton , Chairman of the Securities and Exchange Commission, listens during an interview with CNBC at the Sandler O'Neill + Partners Global Exchange and Brokerage Conference in NY, U.S., June 6, 2018. Either way we're talking about a very short-term period", Yardeni added. Experts have long asserted that the practice of companies publicly forecasting every quarter how they expect earnings to shake out puts too much stress on short-term performance and stock price gains.

Markets Qatar promises $15 billion investment in Turkey
Author: 0 Qatar promises $15 billion investment in Turkey

Turkey's banking watchdog on Wednesday also moved to crack down on shorting of the lira . The priest he wants being US -resident Islamic preacher Fethullah Gülen, who is accused of masterminding the 2016 military coup attempt, but that can not be a peg.

Markets Oil gains but darker demand outlook tempers gains
Author: 0 Oil gains but darker demand outlook tempers gains

At 10:45 am Singapore time (0245 GMT), ICE October Brent crude futures were up 32 cents/b (0.44%) from Monday's settle at $72.93/b, while the NYMEX September light sweet crude contract was 33 cents/b (0.49%) higher at $67.53/b. Crude oil output increased mostly in Kuwait, Nigeria, UAE and Iraq, while production showed declines in Libya, I.R. Iran, Saudi Arabia and Venezuela.

Markets Tesla's Musk Faces Class Action Suits Over Tweet
Author: 0 Tesla's Musk Faces Class Action Suits Over Tweet

Musk's email to Tesla employees posted on Tesla's website on the day of the tweet explained the rationale for the going-private plan, but Musk has yet to prove that the "funding secured" part of his tweet was true. When asked for comment, a Tesla spokesperson said to refer to Musk's blog post . Musk's tweet stunned investors, with many raising questions about his claim that funding for the venture had been secured.

Markets Erdogan says US ‘wrong’ to threaten Turkey after Trump doubles tariffs
Author: 0 Erdogan says US ‘wrong’ to threaten Turkey after Trump doubles tariffs

This prompted yet another tweet from President Trump , this time announcing the actual authorization of the doubling of tariffs on steel and aluminum for Turkey. The latest escalation between Ankara and Washington was denounced by the Turkish press, with pro-government daily Sabah saying "the currency attack" was no different from the attempted coup of July 2016.

Markets Snapchat loses three million users in three months
Author: 0 Snapchat loses three million users in three months

That's despite the introduction of a new model of Spectacles this quarter. Snap has tried to focus on developed markets with strong revenue potential, in contrast to Facebook's strategy of tailoring its apps for emerging markets that are contributing much of its new users.

Markets Elon Musk isn't kidding, Tesla board confirms TSLA could go private
Author: 0 Elon Musk isn't kidding, Tesla board confirms TSLA could go private

Tesla's board, a nine-member group that includes Musk's younger brother Kimbal, issued a belated statement Wednesday morning saying Musk had "opened a discussion" last week with the board about the benefits of taking Tesla private. Tesla's CEO also laid out what he envisions as the ideal path for going private. 'Basically, I'm trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, ' Musk wrote .

Markets Facebook Offers Banks Its Users for Their Data
Author: 0 Facebook Offers Banks Its Users for Their Data

The Wall Street Journal says that JPMorgan Chase , Wells Fargo , US Bank and Citigroup among others have been approached by Facebook to discuss potential offerings it could host on its messaging platform. And while the move could help Facebook's user engagement numbers - which were negative for the first time in its history has a public company last week - it comes with a slew of privacy concerns, exacerbated by the scandal surrounding data firm Cambridge Analytica in Spring 2018.

Author: 0 Elon Musk tweets he may take Tesla private

A deal at $420 per share represents a 22.8% premium to Tesla's closing price on Monday, valuing the company at about $72bn. Tesla did not immediately respond to a request for confirmation or clarification. Shares in Tesla were up sharply following the tweet, trading at $363 at the time of writing. Musk has had feuds with regulators, critics and reporters, and questions remain about Tesla's production and manufacturing difficulties, long-term demand for its cars and uncertainty over funding.

Markets Apple is first public company worth $1 trillion
Author: 0 Apple is first public company worth $1 trillion

The company's share jumped by more than 8% this week after it reported impressive quarterly earnings on Tuesday, driven largely by increase in sales of iPhones. Apple's market capitalization - a common financial measure of worth which multiplies the number of shares by the share price - makes the company worth more than the economies of, for example, Saudi Arabia, Switzerland and Taiwan.

Markets United States and European Union agree to ease tensions over trade disagreements
Author: 0 United States and European Union agree to ease tensions over trade disagreements

China has announced retaliatory tariffs on various USA agricultural products, including soybeans, grains, meats and dairy products, as a response to Trump's plan to impose $50 billion in tariffs on Chinese imports. On March 1 , Trump announced that the USA would be imposing a 25 percent tariff on steel imports and a 10 percent tariff on all aluminum imports.

Markets German industry warns USA auto tariffs not completely off table yet
Author: 0 German industry warns USA auto tariffs not completely off table yet

The largest economic relationship anywhere in the world. In addition, Germany benefits from favorable trade terms, including higher tariffs on auto imports from the U.S. "To which my response is "I don't need a short-term band-aid for this wound you've opened up" said Kenny. The U.S. Department of Agriculture announced $12 billion in aid this week to help farmers hurt by retaliation to the Trump administration's tariffs on foreign goods.

Markets Donald Trump set for tense trade talks with EU's Jean-Claude Juncker
Author: 0 Donald Trump set for tense trade talks with EU's Jean-Claude Juncker

The president is meeting with European Commission President Jean-Claude Juncker on Wednesday. "This is a short-term solution to allow President Trump time to work on long-term trade deals to benefit agriculture and the entire US economy", said Sonny Perdue , the secretary of agriculture, in a statement .

Markets China: US trade policies are ‘confidence killer’ for global economy
Author: 0 China: US trade policies are ‘confidence killer’ for global economy

Speaking at a news conference, he said: "If China wishes to open up, it can do so". "The United States publicly ignited a trade war on July 6 and escalated it on July 11", Gao said. The WTO has "not worked well, or not as well as it was meant to work when China was brought into the WTO in the year 2000", Treasury Undersecretary for International Affairs David Malpass said at an event in Washington on Monday.

Markets UK PM May Threatened Rebels with A National Election
Author: 0 UK PM May Threatened Rebels with A National Election

Pro-EU Labour MP Chuka Umunna hit out at Labour Brexiteers who opposed the customs union amendment, saying: "It's very disappointing and our communities will question why Labour MPs are jeopardising jobs". The entire trade bill passed by 31 votes and now moves to the House of Lords for further scrutiny before returning to the Commons for a final vote.

Markets U.S. lifts ban on high-tech suppliers selling to China’s ZTE
Author: 0 U.S. lifts ban on high-tech suppliers selling to China’s ZTE

The ban stripped ZTE of its access to crucial US -based suppliers, including Qualcomm. The company paid $1 billion of the penalty and put $400 million in escrow at a US bank to satisfy the requirement, the department said . ZTE is now allowed to receive shipments from its American suppliers, according to a notice published on the Bureau of Industry and Security website last week.

Markets China's foreign trade up 7.9 pct in H1, surplus down
Author: 0 China's foreign trade up 7.9 pct in H1, surplus down

China's global trade surplus in June narrowed by 10.9 per cent to 41.6 per cent. For starters, countries have different inherent resources: some have oil, others copper; some grow bananas, others wheat. Exports climbed to US$42.62 billion, also a high, the Customs administration said yesterday. Beyond some point, the potential benefits of wider trade between equally rich countries inevitably decline.

Markets Iran Warns Trump's Oil Ban Is 'Self Harm'
Author: 0 Iran Warns Trump's Oil Ban Is 'Self Harm'

Oil prices fell on Thursday after US President Donald Trump sent a tweet demanding that OPEC reduce prices for crude. In addition to cutting prices, Saudi Arabia told OPEC it pumped about 10.5 million barrels of crude a day last month as the kingdom sought to cap rallying prices by ramping up output, according to people familiar with the matter.

Markets Walmart sells shirts saying impeach Trump and 'Hillary for Prison'
Author: 0 Walmart sells shirts saying impeach Trump and 'Hillary for Prison'

Walmart has received complaints on social media after it was found that the retail giant sold clothing and paraphernalia promoting the impeachment of President Donald Trump . The shirts that come in several shades - plus similar baby onesies and even frisbees - have the twitter-sphere in a frenzy and spurred a grassroots call to boycott the world's biggest retailer.

Author: 0 Iran vows to foil U.S. bid to block oil exports

Shortly after, the White House backtracked on Trump's statement, saying that Riyadh is ready for measures aimed at stabilizing the oil market. The development came days after the oil-rich Persian Gulf state, which is the world's largest oil exporter, agreed to substantially raise production.

Markets Anonymous man buys $1 million worth of Toys 'R' Us inventory
Author: 0 Anonymous man buys $1 million worth of Toys 'R' Us inventory

In March, Toys R Us announced it was shuttering its remaining stores for good after 70 years. America's last remaining Toys "R" Us stores will close for good today , after a final Friday of clearance sales. Toys R Us' troubles have also shaken some big toy makers like Mattel and Hasbro. Retailers like Walmart and Target were expanding their toy aisles to fill the hole, while Party City is opening 50 pop-up toy shops this fall.

Markets Pipeline outages: Nigerian oil output takes a plunge
Author: 0 Pipeline outages: Nigerian oil output takes a plunge

With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! Russian Federation and Saudi Arabia, the leaders and largest producers of the non-OPEC and OPEC producers in the deal, have started to hint that they could reverse some of the cuts "to ease consumer and market anxiety", and reports have it that the production boost could be as much as 1 million bpd.

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