Oil prices collapse as OPEC sees production outpacing demand

Saudi Energy Minister Khalid al-Falih had already said on Monday that Opec had agreed there was a need to cut oil production next year to prevent oversupply. The OPEC-led deal got rid of a supply glut that built up in 2014 as supply from the Un... More..

by | Published more than a month ago
Amazon names New York, Virginia as two locations for new headquarters
by | Thursday, November 15, 2018

Amazon names New York, Virginia as two locations for new headquarters

Alexandria Ocasio-Cortez, a newly elected member of Congress who represents Long Island City, the NY neighbourhood Amazon has chosen, said her office had received numerous calls from constituents expressing "...More..

Oil prices rise 1.5% after Saudi Arabia announces supply cut in December
by | Tuesday, November 13, 2018

Oil prices rise 1.5% after Saudi Arabia announces supply cut in December

In a series of tweets, Trump blamed a stock market sell-off on the Democratic victory while pressing the Saudis and OPEC to keep oil production at current levels. A decision is expected only when the OPEC and...More..

Amazon picks NYC, Northern Virginia as sites for new headquarters
by | Tuesday, November 13, 2018

Amazon picks NYC, Northern Virginia as sites for new headquarters

Other cities may also receive major sites as part of Amazon's decision that would end a more-than-year-long contest that started with 238 candidates and ended with a surprise split of its so-called " HQ2 ", t...More..

U.S. issues waivers to allow N-deal with Iran to continue
by | Wednesday, November 07, 2018

U.S. issues waivers to allow N-deal with Iran to continue

Trump on Friday evening reasserted his openness to reaching a new Iran deal "that forever blocks its path to a nuclear weapon, addresses the entire range of its malign actions, and is worthy of the Iranian peop...More..

United States mid-term elections 2018: Americans vote in 'poll of a lifetime'
by | Wednesday, November 07, 2018

United States mid-term elections 2018: Americans vote in 'poll of a lifetime'

Democrats need to pick up 23 seats to take back the House, Democrats need to a net gain of two seats to flip the Senate and Democrats are expected to slice into Republicans' 33-16 advantage in governors' se...More..

U.S. steps up Iran-bound cargoes despite sanctions
by | Tuesday, November 06, 2018

U.S. steps up Iran-bound cargoes despite sanctions

Takashi Tsukioka, president of the Petroleum Association of Japan, said in September that Japanese oil distributors would temporarily suspend oil imports from Iran until the end of the negotiations. Jahangiri...More..

U.S. midterm elections: A blue wave or a red rally?
by | Tuesday, November 06, 2018

U.S. midterm elections: A blue wave or a red rally?

Trump's remarks came as he barnstormed the country delivering fiery speeches on behalf of Republican candidates - and more than a week after Democrats blamed his rhetoric on immigration for a mass shootin...More..

Amazon just upped the ante in the race for free holiday shipping
by | Tuesday, November 06, 2018

Amazon just upped the ante in the race for free holiday shipping

Prime members already get free shipping, but they'll get a holiday perk, too. Like it or not, the holiday shopping season is almost upon us. According to Amazon , it's the largest selection of items that shi...More..

India iPhone sales to fall for first time in four years-researcher
by | Monday, November 05, 2018

India iPhone sales to fall for first time in four years-researcher

Analysts were looking for US$92.7 billion, according to data compiled by Bloomberg . Starting with the December quarter, we will no longer be providing unit sales data for iPhone, iPad and Mac. iPads, meanwh...More..

US adds 250,000 jobs in October
by | Monday, November 05, 2018

US adds 250,000 jobs in October

There were also big gains in manufacturing, construction and professional and business services payrolls. The economy brushed past Hurricane Michael, adding 250,000 net new positions in October and handil...More..

Asian stocks rally on hope of US-China trade deal
by | Sunday, November 04, 2018

Asian stocks rally on hope of US-China trade deal

U.S. President Donald Trump said on Friday that a lot of progress had been made with China on trade, and he predicted the world's two largest economies would reach a very good deal. The United States ha...More..

Oil prices fall on signs of rising supply, economy worries
by | Saturday, November 03, 2018

Oil prices fall on signs of rising supply, economy worries

The oil market has a bullish catalyst ahead as US actions against Iran will become official Sunday, Kilduff said. Crude oil futures were linked primarily to the sell-off in global equity markets in Octobe...More..

USA plans more China tariffs if Trump-Xi meeting fails
by | Friday, November 02, 2018

USA plans more China tariffs if Trump-Xi meeting fails

Trump has already imposed tariffs on $250bn worth of Chinese goods, and China responded with retaliatory duties on $110bn worth of U.S. goods. Trump also threatened on numerous occasions to put punitive tar...More..

United Kingdom government eyes up Silicon Valley for tax raid
by | Thursday, November 01, 2018

United Kingdom government eyes up Silicon Valley for tax raid

The tax will target platforms such as search engines, social media and online marketplaces, Hammond said , and it will be paid by companies that generate at least 500 million pounds a year in global revenue. H...More..

Oil prices pulled down by global stock market plunge
by | Monday, October 29, 2018

Oil prices pulled down by global stock market plunge

The IEA executive director Fatih Birol said this shift was urgent as revenues will fall in the coming years, possibly by 30% by 2030. "That is coinciding with warnings of plateauing, or even declining, produc...More..

IBM buys Linux giant Red Hat to thrive in the cloud
by | Monday, October 29, 2018

IBM buys Linux giant Red Hat to thrive in the cloud

In other words, an open cloud provider improved by Red Hat's decades of knowledge in Linux and open source. "It changes everything about the cloud market", Ginni Rometty, IBM's chairman, president and chief exe...More..

Global markets in sell-off mode
by | Monday, October 29, 2018

Global markets in sell-off mode

Several companies sustained heavy drops after reporting disappointing results. The Dow Jones Industrial Average gained 401.13 points (1.63 per cent) to 24,984.55, while the broad-based S&P 500 advanced 49.4...More..

China leads the way as billionaires wealth sees record increase in 2017
by | Monday, October 29, 2018

China leads the way as billionaires wealth sees record increase in 2017

UBS and PwC forecast that Asia will overtake the U.S. as a hotspot for global billionaires within three years. Ravi Raju , Head of Asia Pacific Ultra High Net Worth at UBS Global Wealth Management comment...More..

Tesla shares rise after posting ‘historic’ Q3 profit
by | Sunday, October 28, 2018

Tesla shares rise after posting ‘historic’ Q3 profit

Speaking to analysts following the company's Q3 earnings release, CEO Elon Musk said he has already approved the final prototype for the all-electric crossover. Investors have been calling on Ford to detail a...More..