Markets

Trump calls on GM to ‘bring jobs home’ after Ohio plant closing

On Monday, President Trump urged GM and UAW leaders to step up talks and "get that big, attractive plant in OH open now". "Time is of the essence!" read the first GM-related tweet. In the second tweet, President Trump also claimed "much better" automakers are coming to the U.S. On Monday morning, Mr. Trump reiterated his support for the Lordstown plant to reopen quickly.

Tesla Raises Car Prices By 3% To Keep Stores Open

On Feb. 28, the company said shifting to online sales would allow it to lower all vehicle prices by an average of 6 percent, including its higher-end Model S and Model X . The move comes days after Tesla's announcement that it will sell cars online only to help save costs. "Unfortunately, there's no way around it", said Tesla CEO Elon Musk in a conference call.

Facebook to refocus messaging around encryption and privacy

Similar to WhatsApp , though, groups can create problems - including people using them to create racist, xenophobic bubbles on Facebook . Part of the new platform will be a new messaging service built with privacy in mind, with features such as end-to-end encryption and "ephemerality", so chats disappear by default after a month or year as users decide.

Rising trade deficit no cause for worry

The U.S. trade deficit past year has surged to the highest level since 2008, according to a report by U.S. Commerce Department Wednesday. The government also sought to stimulate the economy with a $1.5 trillion tax cut package, which jolted both consumer and business spending, helping to lift imported goods to a record $2.6 trillion in 2018.

Tesla promises to halve charging time with V3 Supercharging

Through that system and the V3 Superchargers, Tesla estimates that a typical charging time at one of the units will drop to 15 minutes. And though no commercially available battery now has the capacity, Tesla says the new Superchargers can theoretically restore 1,000 miles of range in an hour.

Lyft IPO filing shows surging revenue, widening losses

In its IPO prospectus registered with the SEC, Lyft said it had 2.2 billion US dollars in revenue in 2018, an increase from 1.1 billion dollars in the previous year. Both Uber and Lyft are now locked in a two-way battle for achieving market dominance in the ride-hailing segment of the US. "Lyft is dwarfed by Uber, but it's clearly growing and edging into Uber's customer base", Kennedy said.

Victoria's Secret To Close Another 53 Stores This Year

The brand has struggled in recent years - sales have slipped, and its provocative ads are being criticized by some as being tone-deaf in the era of #MeToo . It has plunged more than 40% in the past year. Victoria's Secret will be saying goodbye to 53 stores across the United States and Canada after a hard holiday season, according to NBC12.

SEC asks judge to hold Elon Musk in contempt

Musk sent a follow-up tweet a few hours later indicating that the company will actually deliver just 400,000 cars this year. The SEC is alleging that he didn't have any oversight or approval tweeted that Tesla will make 500,000 cars in 2019, or any tweets since the settlement .

Dollar struggles ahead of Fed minutes, but gains on the yen

Tensions arose in 2017 when Canberra accused Beijing of meddling in its domestic affairs, and the relationship suffered another setback previous year when Australia banned China's Huawei from its 5G broadband network. The currency is being supported today by upbeat comments from Reserve Bank Governor Philip Lowe and easing concerns about China's ban on Australian coal imports .

Tesla Model 3 Loses Consumer Reports Recommendation Over Reliability Issues

Owners also complained about glass defects , as well as general fit and finish issues ; panel gaps and poor painting have both been a long-standing subject of criticism for Tesla vehicles. Last year, Consumer Reports witheld its recommendation of the higher-priced Tesla Model S sedan. People look at new Tesla cars at a showroom in New York City.

United Kingdom intelligence agency says Huawei 5G ban probably isn’t warranted

The decision may have wide-reaching effects across Europe, the FT suggests, noting that the United Kingdom is the only European member of the Five Eyes intelligence alliance, in which the US, Australia, New Zealand, and Canada share intelligence data.

Amazon reportedly rethinking HQ2 in New York City

But it's hard to believe that CEO Jeff Bezos was naive enough to believe he'd get the same reception in NY. When the details of the behind-closed-doors agreement the NY government made with Amazon were made public in November , as Common Dreams reported, critics immediately decried the deal as " corporate bribery " that would harm public housing projects and contribute to soaring inequality while handing the tech behemoth billions in taxpayer incentives .

Stockpiles Soar, Oil Holds Losses

Meanwhile, support from the lower trendline around $53.65 should limit any near-term falls. Benchmark Brent crude had slipped 62 cents to $61.36 a barrel by 1000 GMT, after rallying about 15 percent in January. The existing tariff schedule is likely to remain in place, however, news reports said. That focuses yet more attention on the outcome of U.S. The Bloomberg Dollar Spot index has risen 1 percent this month, capping gains in crude and other commodities priced in the currency.

Labour split over Venezuela as Bank freezes Maduro's gold

He said some preliminary steps had to be taken first by the Vatican and other members of the global community. Mexico, a Lima Group member opposed to steps aimed at ousting Maduro , did not attend. Meanwhile, Venezuela's socialist party boss, Diosdado Cabello, threatened to hold early legislative elections that could gut the congress, which is the only branch of government controlled by the opposition.

Fed leaves interest rates steady, says will be 'patient' on future hikes

As a result, the greenback was initially on the backfoot and US yields were extending their decline, (The US 10-year yield fell 4bp to 2.63%). Worries that the Fed would raise rates swiftly had spooked markets late a year ago. Chairman Powell will be asked about all these threats to growth, and investors will gauge his responses to try to assess how concerned the Fed is. President Trump , meanwhile, has been an outspoken critic of the Fed's interest rate hikes.

U.S. charges Huawei, top executive with fraud

The Justice Department announced criminal charges Monday against Huawei Technologies Co., the world's largest communications equipment manufacturer, and one of its top executives - a move likely to intensify trade tensions between the USA and China.

Flights delayed at Newark, LaGuardia, Philly airports from 'sick leave' staffing shortage

FAA spokesperson Gregory Martin said issues occurred at two air-traffic facilities: one in Washington, D.C., that controls high-altitude air traffic over seven states, and another in Jacksonville, Fla . A ground stop has been ordered at LaGuardia Airport due to staffing issues, the Federal Aviation Administration said Friday. By early afternoon, more than 2,400 US flights had been delayed, according to tracking service FlightAware, although the situation seemed to be improving from ...

US orders its embassy staff to leave Venezuela

Here's what you need to know. Rubio led a delegation of Florida lawmakers to discuss Venezuela with Trump on Tuesday, although an aide said Trump had decided before the meeting to recognize Guaido. "The people of Venezuela have courageously spoken out against Maduro and his regime and demanded freedom and the rule of law", Trump said in a statement.

PG&E Says it Will File Chapter 11 Bankruptcy

If PG&E is found legally responsible for some or all of the costs connected to the 2017 and 2018 Northern California wildfires , its liability could exceed $30 billion, according to the company's filing with the Securities and Exchange Commission on Monday.

Turkey dismisses Trump threat to economy over Syrian Kurds

Trump also commented on Twitter to the Kurds, asking them not to "provoke" Turkey . USA secretary of state, who is on a whirlwind regional tour, also sought to reassure Washington's Kurdish allies, who fear the pullout would allow Turkey to attack them.

Senate approves bill to pay federal employees retroactively after shutdown ends

Meanwhile, Senate Majority Leader Mitch McConnell has made clear that he won't take up any legislation related to the shutdown in the Senate that President Donald Trump won't sign. "I do hope that my colleagues across the capital come to their senses and stop this ridiculous Trump shutdown". "If they can't do it I will declare a national emergency".

Ocasio-Cortez dancing means nothing, her ideas do

That led to a weekend of Twitter exchanges with Representative Steve Scalise , the No. 2 House Republican. In a statement to CBS , the White House said that her "sheer ignorance on the matter can't cover the fact that President Trump supported and passed historic criminal justice reform" and "has repeatedly condemned racism and bigotry in all forms".

Mega Millions jackpot up to $425 million for New Year's drawing

According the New York Lottery website , the winning ticket was sold at a gas station in Glen Head, New York , on Long Island. A record-breaking $1.537 billion Mega Millions prize was sold in SC a year ago, but the ticket buyer has not yet come forward.

Sears at WestShore Plaza closing in January

Liquidation sales are expected to start in January and continue until the stores are shut down in late March. The company has been seeking a bidder willing to keep the remaining stores open as part of a reorganization of the business. The Santa Barbara Sears store closure added up to another 72 jobs. Sears Holdings filed for bankruptcy protection on October 15. The final decision on Lampert's bid will be made by the judge overseeing Sears.

Sears closing 80 more stores -- 2 in MI

Workers were told this week that liquidation sales are expected to start at the affected locations in two weeks, CNBC reports . It wants someone to buy about 500 of its stores and the Kenmore appliance brand to keep Sears and Kmart open for business.

Wall Street banks reassure US Treasury amid big market falls

Trump was reportedly not happy over the weekend with how Mnuchin handled an especially volatile market , which culminated with an unprecedented market drop on Monday - the Dow dipped by 2.9 percent and the S&P 500 fell 2.7 percent. Stocks opened higher in NY after some market participants return from holiday. 'This is nonsense, ' the source said about Mnuchin and who worked with Trump during his 2016 campaign.

Putin says US presence in Japan complicates signing of peace treaty

The Russian leader scoffed at the allegations, rejecting them as part of a smear campaign driven by domestic policy in the USA and elsewhere in the West. Putin, who said Russia's own relations with Britain were deadlocked but that Moscow was interested in improving them, characterized Brexit as an example where Western democracy was starting to show cracks.

Facebook Allowed Spotify to Read Your Private Messages

A spokeswoman for Yandex, which was accused previous year by Ukraine's security service of funneling its user data to the Kremlin, said the company was unaware of the access and did not know why Facebook had allowed it to continue. In other words, if you want to be a part of any social life or local political conversations or want to promote your work, that simply means being on Facebook.

Trump Wants Feds To 'Feel The Market' Instead Of Using 'Meaningless Numbers'

On Monday, the president said it was "incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike".

Trudeau: Diplomats will see second Canadian detained in China 'shortly'

Earlier this week, China detained two Canadian nationals - Michael Kovrig and Michael Spavor - over allegations they were involved in activities endangering national security. "China knows it needs to take action because you can see the levels of pollution they have but they also see the economic opportunity", she added. The United States has accused her of lying to bankers about the use of a covert subsidiary to sell to Iran in breach of sanctions.

Google rules out a Chinese search engine

Rep. Ted Poe, R-Texas, tried to pin down Pichai concretely on privacy. Pichai said the company was "happy to engage" to discuss legislation. "A significant portion of this hearing was a waste of time". Rothfus asked Pichai how many months the company had been working to develop the censored search engine and how many employees were involved. That's notable because it's the most detail the company has gone into regarding the project's size.

China threatens consequences if Huawei CFO Meng Wanzhou is not released

US President Donald Trump told Reuters on Tuesday he would intervene in the US Justice Department's case against Meng if it would serve national security interests or help close a trade deal with China . But ministry spokesman Lu Kang said the International Crisis Group, where Kovrig has been a Hong-Kong-based analyst since February 2017, is not registered in China and alleges its activities in the country are illegal.

Trump Imposes Six Month Deadline On Congress For NAFTA Substitute

Dziczek said she's anticipates a scenario where Trump signs a formal intent to withdraw, but ignores the fact that congressional approval would be required to repeal the underlying legislation that enforces the terms of the original agreement - a scenario she's dubbed "zombie NAFTA ".

We're quitting OPEC in 2019

It also has made the country fantastically wealthy, sparking its successful bid for the 2022 FIFA World Cup. There's also been a shift in the way energy exports are shared from Qatar. Qatar could potentially do the same. The OPEC is a group of 15 oil-exporting nations, several of them in the Arab world, that virtually control the global prices of crude oil by regulating their supplies.

GM to close 5 factories, including Hamtramck and Warren

The changes announced Monday include closure of a plant in Lordstown, Ohio, that makes the Chevrolet Cruze; a Detroit plant that makes the Chevrolet Volt, Buick LaCrosse and Cadillac CT6 and a plant in Ontario, Canad, a that makes the Chevrolet Impala.

Sobeys pulls romaine lettuce from shelves

The incident raises the question about why it is so hard to trace where E. coli outbreaks come from. The Centers for Disease Control and Prevention is urging Americans "not to eat" romaine lettuce amid links to an E Coli outbreak.

Gathering Storm? Anti-Pelosi Democrats United In Finding New Leadership...For Now

Republicans complained about the unpopularity of the GOP tax law they blamed for losses in NY and other key states, some attendees told reporters after the meeting. "We welcome Nancy Pelosi's support, but words are not enough". On the Democratic side, Pelosi remains she's confident she'll have enough support to win when voting gets underway after Thanksgiving, and challenged her opponents Wednesday to put forward an alternative candidate.

It’s official: Amazon names NYC, Northern Virginia as two sites for HQ2

Executives traveled across the United States - and to one Canadian city - to tour sites to find the company's next home. The behemoth announced that it will split " HQ2 " between New York City and Arlington , Virginia. An affordable housing crisis there prompted the city council to adopt a head tax on businesses in May, which Amazon helped overturn in a subsequent city council vote.

Tesla picks insider to replace Musk as chair after SEC row

Denholm, an independent director at Tesla since 2014, now serves as the chief financial officer of Telstra , Australia's biggest telecom company. Musk is being replaced as part of an SEC settlement for the CEO's infamous and expensive "funding secured" tweet. That alluded to shortsellers, investors who have bet that Tesla shares will fall and who are frequently the subject of Musk´s derision.

MI vote to legalize pot fires up investor momentum behind cannabis

MI voters said "Yes" to Proposal 1 , making the state the first in the Midwest to legalize recreational cannabis cultivation and use for those 21 years of age and older. Doctors can prescribe cannabis products for various symptoms, and patients can either buy it or grow it at home. The Associated Press has not called the race.

With eye on aid, Pakistan PM meets Chinese counterpart

Li said the former cricket star's visit would "further consolidate and develop the firm, enduring ties between our two countries". According to reports from Pakistan, the new bus service will be launched between Lahore in Pakistan and Kashgar in China via PaK on November 3.

Lottery boom in Arizona continues; another $1M ticket sold near Phoenix

It's not just a win for one or more ticket holders, but for SC as well, Cooper said. The jackpot for Powerball had climbed to $620 million by Wednesday afternoon. The lump sum cash payout is estimated at $US354.3 million. Sales reached almost $740 million during that time, lottery officials said. Rolfe Hughes, a Simpsonville resident, said he's driven passed the station a "million times", but he'd never bought a lottery ticket .

Numbers Drawn for $476-Million Powerball Jackpot

Reports indicate that almost 280 million tickets were purchased for the drawing. The current jackpot beats the previous record, a $1.586 billion jackpot for a Powerball drawing in 2016, said Seth Elkin, a spokesman for Mega Millions. Its jackpot rose on Friday to £360 million ($470m) from £329 million ($430m), with a lump sum value of £205 million ($268.6m). The $1.6 billion estimated jackpot would be the largest prize in USA history.

Trump Warns Mexico on Migrant Caravan, Threatens to Close Border

In a series of tweets , Trump blamed Democrats, leaders of Central American countries and "existing weak laws" for the influx. President Donald Trump threatened on Thursday to deploy the military and close the southern U.S. Image copyright Reuters Image caption A Honduran migrant, part of a caravan trying to reach the USA, and her daughter at a migrant shelter in Guatemala City Why are they leaving? "He's making a political calculation", Ebrard said, adding that migrants arriving ...

Turkish police search Saudi consul's home in Khashoggi probe

Many members of the US Congress, which has long had a testy relationship with ally Saudi Arabia , have issued strong criticism of the kingdom since Khashoggi's disappearance at the Saudi consulate in Istanbul on October 2. Local TV channels have broadcast what they said was footage of a vehicle exiting the consulate premises and parking at the residence two hours after Khashoggi disappeared.

Turkey says joint 'inspection' planned at Saudi Consulate

Trade in the forward currency market, used by banks to hedge investments, suggested some institutions were protecting themselves against the risk of capital outflows or US sanctions on Riyadh after the disappearance of Khashoggi, a prominent critic of Saudi authorities, in Istanbul .

Trump says Fed 'out of control' but keeps Powell

So they [the Federal Reserve board of governors] are always questioning, 'Is now the time for us to act?' Hindsight is 20/20, but they have to make policy today ". "Auto sales is another area we might expect to see some eventual slowing, as higher rates typically bite with a lag". At that time, the markets interpreted his comments to mean the Fed could become aggressive with the pace of its rate hikes this year and into next if it finds signs that inflation is heating up and threatening ...

Canada pipeline blast risks Washington natural gas shortage

To avoid an even more extensive shortage, the gas distribution system operator has asked customers that do have gas to turn down their thermostats and use their appliances that run on gas as little as possible. "We thought it might have been a train crash or a low-flying jet", he said. "There is a potential impact on Seattle and north of Seattle", Stout said.

EU official sees room for Brexit breakthrough next week

Asked by the BBC to offer her backing to Mrs May's plan, Ms McVey sidestepped the questions. Labour demands that Britain retain "the exact same" perks it now has within the EU's customs union and single market - something May's so-called Chequers plan does not meet and which the EU rules out since London chose to leave both.

Centre, BJP-ruled states cut fuel prices, Congress calls it panic reaction

Sources said the Centre has also urged the State governments to slash taxes on petrol and diesel which will is likely to further reduce the prices by at least Rs 5 per litre. The state will do so if the Centre bring the fuel prices down to the level when the Narendra Modi government assumed office in May 2014, Issac told the media here while reacting to Union Finance Minister Arun Jaitley's statement in this regard.