Economy


Gold futures rise as traders prepare for United Kingdom leaving EU Gold futures rise as traders prepare for United Kingdom leaving EU
- March 22, 2017

Wall Street shares drifted lower on Monday as investors anxious that President Donald Trump's plan to cut taxes and boost the economy could take longer than earlier expected. Many Fed policymakers are due to speak, including four voting members, but I'll be most interested in what Janet Yellen has to say on Thursday at the Federal Reserve System Community Development Research Conference in Washington and what Minneapolis Fed president Neel Kashkari has to say as the only dissenter from the ... (more...)
Ivanka Trump Company Is Accused Of Unfairly Profiting From White House Ivanka Trump Company Is Accused Of Unfairly Profiting From White House
- March 22, 2017

Instead, her brother- and sister-in-law Josh Kusher and Nicole Meyer will control it. Josh Kushner's brother and Ivanka's husband, Jared, is a senior adviser to President Trump . The White House did not respond to further requests for comment. She has no accountability to the American people, but gets a gov't phone, office and access to classified intel? Ivanka Trump's role has already come under scrutiny because there is little precedent for a member of the first family with this kind ... (more...)
Uber's President Jeff Jones resigned after joining the Company for six months Uber's President Jeff Jones resigned after joining the Company for six months
- March 22, 2017

Mr Jones held a Q+A session with drivers in February which provoked angry responses - one driver remarked: "The ONLY thing you made clear to the majority of us is that you don't have ANY productive answers". Uber is feeling the heat from angry drivers. Rachel Holt, the head of the company's US ride-hailing business, said Uber would make changes to its app that should address some drivers' concerns. (more...)
Gold regains 29K-mark; silver climbs to Rs. 41350 per kg Gold regains 29K-mark; silver climbs to Rs. 41350 per kg
- March 19, 2017

The Standard & Poor's 500 index fell 4 points, or 0.2%, to 2,380 as of 11:26 a.m. EDT. The index was down nearly 1 percent overall for the week and 1.2 percent since the Fed raised rates on Wednesday. After the United Kingdom vote last summer to leave the European Union, investors were anxious about whether a wave of nationalism across the continent could eventually break the European union apart. (more...)
USA faces limits in busting Russian agents over Yahoo breach USA faces limits in busting Russian agents over Yahoo breach
- March 18, 2017

While Baratov is in the custody of Toronto Police Department at the courtesy of its fugitive squad, the other three are in Russian, so Sessions' ambitions to prosecute them is at risk, as the Russia has not extradition deal with the US. It contained a lot of information that could be used to reset passwords and gain entry to Yahoo accounts, such as phone numbers, answers to security questions and recovery email addresses used to reset forgotten passwords. (more...)
Revenue Update on Investors Real Estate Trust(NYSE:IRET) Revenue Update on Investors Real Estate Trust(NYSE:IRET)
- March 17, 2017

The Lawyer's deputy editor Matt Byrne and head of research Thomas Sturge discuss the key findings from the upcoming Global 200: Real Estate report. Bank of New York Mellon Corp now owns 1,058,111 shares of the real estate investment trust's stock valued at $6,297,000 after buying an additional 155,725 shares in the last quarter. (more...)
BBC team among those injured in Mount Etna eruption BBC team among those injured in Mount Etna eruption
- March 17, 2017

A BBC team and a group of tourists have been caught up in an explosion on Mount Etna that resulted in a number of injuries. Mount Etna is a volcano, which is the largest in Italy and is considered to be the most active in Europe. Among the injured include a BBC journalist and her film crew, and a 78 year old woman. 'Incident could have been worse - explosions like this have killed - but seems minor injuries for now. (more...)
William Ackman's Pershing Square Sold Stake in Valeant William Ackman's Pershing Square Sold Stake in Valeant
- March 15, 2017

Finally, Rodman & Renshaw reiterated a "neutral" rating and issued a $17.00 price objective (down from $23.00) on shares of Valeant Pharmaceuticals Intl in a research report on Monday, February 27th. Valeant has a number of moving parts, of course, but much of the gap comes down to the amortization of intangibles from its many acquisitions. Because of the size and cost associated with its liabilities, Valeant's interest coverage ratio - a measure of financial flexibility that's ... (more...)
What you need to know about the American Health Care Act What you need to know about the American Health Care Act
- March 14, 2017

They scorn the American Health Care Act as "Obamacare Lite", hardening an entitlement. Some family doctors aren't so sure about the proposal, either. In their letter, they called on lawmakers to consider moral criteria as they debate the measure, including: respect for life and dignity; honoring conscience rights; access for all; a plan that is "truly affordable ... (more...)
Volkswagen pleads guilty in U.S. diesel emissions scandal Volkswagen pleads guilty in U.S. diesel emissions scandal
- March 14, 2017

Volkswagen has admitted conspiracy to commit fraud, obstruction of justice and entry of goods by false statement during a hearing in Detroit. . Doess said at a hearing in U.S. Although the cost would bankrupt many companies, VW has the money, with $33 billion in cash on hand. As part of the settlement VW has also agreed to scrutiny by an independent monitor over the next three years, in order to ensure strict governance procedures are maintained throughout the company's internal structures. (more...)
Waukesha Gander Mountain will remain open despite bankruptcy Waukesha Gander Mountain will remain open despite bankruptcy
- March 12, 2017

Its reorganization plan calls for the sale of the company. No word on when the Augusta location will close or how local employees will be affected. The Minnesota-based outdoors retailer, which bills itself as America's firearms superstore, has faced challenges capitalizing on a booming gun market. (more...)
Afghan family detained in Los Angeles are asking for release Afghan family detained in Los Angeles are asking for release
- March 07, 2017

The father, mother and three small children were granted Special Immigrant Visas because family members risked their lives to defend the US government overseas, said the filing from lawyers with the International Refugee Assistance Project, a legal aid group for refugees and displaced persons. (more...)
GM Agrees to Sell Opel and Vauxhall Brands to PSA Group
- March 05, 2017

General Motors and Europe's PSA Groupe, which has Peugeot, Citroen and other auto brands, are edging closer to a deal that could potentially vault the French company into second place among automakers in Europe. Another issue in the talks has been how GM and PSA will manage the pension plan for Opel retirees, people familiar with the discussions have said. Two inside sources told Reuters that the deal will be formally announced on Monday. (more...)
General Motors Company (NYSE:GM) General Motors Company (NYSE:GM)
- March 05, 2017

The count of Hold ratings in that period was 1. General Electric's (GE) industrial water treatment business which is up for sale would be a good strategic fit for Suez, the French group's chief executive said on Wednesday. "Capital Investment Advisory Services LLC Purchases New Position in General Electric Company (GE)" was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. (more...)
How quickly will the Federal Reserve tighten?
- March 04, 2017

Before Fed officials began speaking out this week, many Fed watchers and investors had been doubtful of a rate increase this month. "The case for monetary policy tightening has become a lot more compelling", New York Fed President William Dudley told CNN on Tuesday evening. (more...)
Surprise! Illegal alien detained after holding new conference Surprise! Illegal alien detained after holding new conference
- March 03, 2017

Vargas was previously encountered at her residence February 15, at which time ICE exercised discretion to not take her into custody due to her claim that she had DACA. The National Immigration Law Center called news about Vargas' detention "troubling". County Counsel Jim Arsenault said federal officials in Washington are still reviewing the county's request to join the 287 (g) program. (more...)
FCC sets aside new Net data privacy rule
- March 03, 2017

And this month, Pai is publishing the text of all six items - expanding the transparency measures he began last month. However, he said if the FCC didn't have a vote, then he'd order the relevant bureau within the FCC to simply issue the stay instead, which it now appears to have done. (more...)
Kuwait's oil output 2.705 mln bpd in February Kuwait's oil output 2.705 mln bpd in February
- March 03, 2017

Saudi Arabia continued to lead OPEC's efforts to cut production, helping the group get closer to a goal set out in a historic accord past year. OPEC reached a deal to cut oil production in December 2016, the first deal that both OPEC and non-OPEC producers, led by Russian Federation, agreed to since 2001. (more...)
Ben Carson confirmed as Head of Housing Ben Carson confirmed as Head of Housing
- March 03, 2017

Despite that, his nomination cleared a Senate committee in January on a unanimous vote. Carson grew up in inner-city Detroit with a single mother who had a third-grade education. In his written responses to me, he made good, detailed promises on everything from protecting anti-homelessness programs to enforcing fair housing laws. (more...)
ISM reports a record-setting month for manufacturing in February ISM reports a record-setting month for manufacturing in February
- March 03, 2017

Production expanded for the sixth consecutive month, with the index up to 62.9 in February from 61.4. The PMI for February registered a reading of 57.7%, which marked a 1.7% increase over the January reading of 56%. The PMI was bolstered by gains in orders and manufacturing output. "You see the high backlog of orders and the production levels, and they want inventories to not fall short, and they are confident enough to get them up, following the run of 19 months below 50 in a lean ... (more...)
RBS predicts profit next year despite posting £7bn loss RBS predicts profit next year despite posting £7bn loss
- February 25, 2017

The blue chip banking results roller-coaster ride reaches its last loop on Friday as Royal Bank of Scotland Group PLC and Standard Chartered PLC (LON:STAN) round of the sector's 2016 reporting season. Across Europe, Germany's Dax was off 1.2% and the Cac 40 in France fell 0.9%. However, Mr McEwan said he expected RBS to return to profit by the end of 2018, and pointed out that when one-off charges were stripped out, the core business of the bank was making money. (more...)
JC Penney closing up to 140 stores and two distribution centers JC Penney closing up to 140 stores and two distribution centers
- February 25, 2017

Home goods, Sephora, salon, and fine jewelry were its top-performing merchandise divisions this past quarter, according to its report. The company will also close a distribution center in Lakeland, Fla., in early June and is in the process of selling a supply chain facility in Buena Park, Calif., in an effort to "monetize a lucrative real estate asset". (more...)
Korean Air Receives Its First Boeing 787-9
- February 25, 2017

The new aircraft will be deployed on Korean Air's long-haul flight routes from Seoul to Toronto, Madrid and Zurich by later this year. "I travel a lot to the USA, and this is my first time to Charleston, and from what I've seen, this is a charming city", Cho said before making the 15-hour trek back to Seoul with 20 other passengers aboard the 787-9 Dreamliner. (more...)
Kraft Heinz Co (NASDAQ:KHC), Aetna Inc (NYSE:AET)
- February 23, 2017

Although 3G was not able to close in on Unilever it was able to make a smaller transaction through another company it controls, Restaurant Brands International, which this morning announced it was buying Popeye's Louisiana Kitchen for $1.8 billion. (more...)
Burger King Is Officially Buying Popeyes And Now The Possibilities Are Endless
- February 23, 2017

Many Analysts provided their foresight on Revenue Estimates of Restaurant Brands International Inc. where they believe that the company has the potential to earn average revenue of $989.46 Million for the current quarter. Popeyes announced plans in the fall to open restaurants in north Spokane and Post Falls, the first locations in the Inland Northwest. On the company's financial health, Restaurant Brands International Inc reported $0.44 EPS for the quarter, beating the analyst ... (more...)
ISIS to Drag Israel into a War on Gaza
- February 23, 2017

The two rockets were fired a day after the Isis-aligned Amaq News reported the death of four fighters in an Israeli drone strike. Tel Aviv- In a research conducted by Israeli military and intelligence officials and in the wake of repeated rocket attacks launched from Sinai towards Eilat and its vicinity, chances are that ISIS hardliners seek to drag Israel into another war against the Gaza Strip. (more...)
Kraft Heinz proposes $143B merger with Unilever
- February 18, 2017

Despite the rebuff, Kraft said, "we look forward to working to reach agreement on the terms of a transaction", adding, however, there was "no certainty" there would be a further proposal. Kraft Heinz has a market cap of $114 billion, so any acquisition that is not in shares would require a substantial debt load. Unilever does not see the basis for any further discussions. (more...)
Here Are the 2017 James Beard Award Semifinalists From Arizona Here Are the 2017 James Beard Award Semifinalists From Arizona
- February 17, 2017

Charleen Badman of FnB restaurant in Scottsdale earned her fourth semifinal nomination this year. Lomas was nominated previous year in the same category. Also, one Milwaukee restaurant is one of the semifinalists for the Outstanding Restaurateurs award. On Wednesday, March 15 , the list gets culled when the final nominees for all award categories are announced at a press conference in Los Angeles. (more...)
Verizon is reportedly looking for a $250 million price cut on Yahoo
- February 16, 2017

In September, Yahoo confirmed a 2014 security breach that impacted more than 500 million user accounts on its network. Verizon is nearing a new and discounted deal to purchase Yahoo. A spokesman for Yahoo did not respond to a request for comment. Verizon is reportedly close to making the new deal public. And talks are still ongoing, as Verizon hasn't wrapped its investigation into the breaches, The Wall Street Journal reports . (more...)
More than 55000 USA bridges structurally deficient
- February 16, 2017

According to a construction industry report released on Wednesday, nearly 56,000 USA bridges are structurally deficient. While all of the top 10 most traveled structurally deficient bridges were in California , Midwestern and Eastern states dominated the list of the 10 states with the highest number of structurally deficient bridges. (more...)