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Crude soars to $80 per barrel

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The storm is expected to make landfall on the U.S. East Coast on Friday. "While Iranian exports have fallen by almost 500,000 barrels per day since May, shipments from Iraq and Saudi Arabia have risen by 200,000 barrels per day and 60,000 barrels per day respectively", the IEA added. Read More »

How the Waffle House is used to determine a hurricane’s fury

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Fugate stepped down in January 2017 and was replaced by Brock Long, but the Waffle House Index remains. The restaurant chain appears to be taking the job seriously, activating its own storm center as Hurricane Florence approaches . "The Waffle House test just doesn't tell us how quickly a business might rebound - it also tells how the larger community is faring", said a FEMA blog post from 2011, when Craig Fugate was administrator under former president Obama. Read More »

Presidential emergency alert system text coming next week

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FEMA will test the Wireless Emergency Alerts system to "assess the operational readiness of the infrastructure for distribution of a national message and determine whether improvements are needed", the agency said in a statement . "THIS IS A TEST of the National Emergency Alert System ". The system is the latest generation of warnings at a time when more people are typically linked at any one time to their cell phones than radios or TVs. Read More »

Australian officials warn of needle danger for 6 strawberry brands

Initially three incidents in Queensland had been reported to police on Thursday. Mr Michael said strawberry growers made huge capital outlays to plant their crops, and now was a critical time of year for them to get some money back. Police asked anyone who finds a needle in their strawberries to take the punnet their local station. "As the products have yet to be forensically examined, it is unknown if the contamination is related to the original Queensland incident or a copycat", NSW ... Read More »

U.S. Invites China to Trade Talks as Tariffs Loom

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The trade war has already contributed to sell-offs in China's stock markets and currency. The new round would be in addition to $50 billion in Chinese goods that already face a 25 percent duty. William Zarit, the chairman of the American Chamber of Commerce in China, warned the Trump administration against assuming those difficulties will force Beijing to cave in to its demands. Read More »

Jamie Dimon Says He Could Beat Trump, Immediately Backtracks

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Nonetheless, Dimon has acknowledged he would have no chance in a presidential election and said that he is committed to staying in his current job. He's been asked repeatedly whether he intends to run for president in 2020, but consistently demurs. In addition to serving as head of JPMorgan, the biggest United States bank by assets, Dimon is also a big player in Washington, serving as chairman of the Business Roundtable, a Washington lobbying organization representing most of the ... Read More »

Amazon's Bezos says Trump should be 'glad' of media scrutiny

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In 2012, he donated $2.5 million to uphold Washington state's same-sex marriage law. The $2 billion initiative, while significant, is far less than the philanthropic efforts of other billionaires including Microsoft's Bill Gates, who has donated tens of billions to his foundation, and Facebook's Mark Zuckerberg, who has pledged to donate 99% of his shares in the social media giant to an organisation focused on public good. Read More »

Bank of England's Carney extends term at helm to Jan 2020

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He says: "Accordingly, I am willing to do whatever I can in order to promote both a successful Brexit and an effective transition at the BoE". Bank of England's Mark Carney will extend his tenure as governor by seven months to ease the BOE's transition as Brexit nears. Read More »

Canada's Freeland to hold NAFTA talks in Washington on Tuesday

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Yet, he stressed that "if we sign the deal it'll be. for Canada and Canadians". Canadian Foreign Minister Chrystia Freeland returned to Washington on Tuesday for talks aimed at rescuing the North American Free Trade Agreement as time was running short before an October 1 deadline. Read More »

Turkey central bank stuns markets with giant rate hike

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The lira is down 38% against the dollar this year despite Thursday's slim gain. Right before the bank acted, Erdogan decried high interest rates as a " tool of exploitation ". Ignoring calls for restraint from President Recep Tayyip Erdoğan , the bank raised its main short-term rate from 17.5% following weeks of pressure from worldwide investors. Read More »

RNC Minerals stock soars on gold strike in Western Australia mine

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Mr Selby, who said security had also been beefed up at the mine in the wake of the discovery, said he hoped the new process would be completed by November. The mine's Canadian owners, RNC Minerals , are planning an auction for the large specimens. Salt Lake geology manager John Vinar said it was special to see gold in that form. Read More »

Putin proposes peace treaty conclusion with Japan by year-end

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President Vladimir Putin suggested Wednesday Russia and Japan sign a peace deal " without any preconditions " by the end of the year, a historic proposal to try to solve a territorial dispute after decades of deadlock. Russia's Tass news agency reported Moscow and Tokyo are considering Japan's involvement in liquefied natural gas projects in the Kamchatka region. Read More »

Petrol Prices: Naidu Put Pressure On KCR..

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The highest price is at the Marathwada region in Maharashtra , where petrol was priced above Rs 90. In New Delhi , petrol price reached Rs 80.73/litre; an increase of Rs 0.23/litre and diesel was at Rs 72.83/litre which is a Rs 0.22/litre hike. Read More »

Apple accidentally reveals iPhone XR, iPhone XS and iPhone XS Max names

Apple officially announced its 2018 iPhone line-up at a press event in Cupertino, Calif. Wednesday: The company is replacing last year's iPhone X with a new model dubbed the iPhone Xs, which comes with a bigger-sized Xs Max variant. "Apple has never competed on price", said Josh Blechman, director of capital markets at Exponential ETFs, which holds Apple shares in its exchange traded fund. Read More »

Asian shares on slippery slope as Trump ups ante in trade war

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While the iPhone , which accounts for about two-thirds of Apple's total sales, hasn't been affected by the tariffs yet, this could change if the Trump administration follows through with earlier threats of levies on Dollars 500 billion in imports, which would cover just about everything China exports to the US. Read More »

Apple's newest iPhone could have big screen and big price

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The event is being held at the Steve Jobs Theater in Cupertino, California (but if you're not been invited in person, this won't matter to you). The event is likely to last 2.5 to 3 hours. In addition to new models, Apple is also expected to unveil a gold-colour option for the two new OLED-screened phones , a new version of its wireless Airpods earbuds with wireless charging and a new version of its Apple Watch with a bigger display. Read More »

Hurricane Florence: 'We are planning for devastation'

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It may move a little north into Virginia or a little south into SC. Delta Air Lines said it will cap airfares in airports from Virginia to Georgia, which could be affected by the storm. Before that, no major hurricane (Category 3 or greater) had arrived in the United States since 2005. Hurricane Florence could inflict the hardest punch North Carolina has seen in more than 60 years . Read More »

Evacuations underway as Florence strengthens to category 4 hurricane

As Hurricane Florence churned toward an eventual Eastern Seaboard landfall, more than 1 million people were ordered to evacuate their homes along the United States south-east coast on Tuesday. "Also, most storms coming into the Carolinas tend to move northward, and this storm looks like it's going to stall over the region and potentially bring tremendous, life-threatening flooding", AccuWeather meteorologist Marshall Moss said. Read More »

Chinese companies flee overseas to avoid US tariffs

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On Saturday, he posted a tweet suggesting Apple should move its production facilities to the U.S. The Focus Active was set to be the first Chinese-made Ford offered in the USA, while General Motors now imports the Buick Envision SUV and Cadillac CT6 Plug-In Hybrid. Read More »

Trump Tweets Ford Can Make SUV in US It Won't.

The company told trade officials in a letter on Friday that the proposed tariffs would affect prices for a "wide range" of Apple products, including its Watch, but it did not mention the iPhone . The public had until Thursday to comment on the administration's plan. Intel Corp said proposed tariffs would negatively affect US businesses and "stifle advancements" in telecom infrastructure, including next generation technologies like 5G. Read More »

Ford corrects Trump over US-made Focus Active claim

Kristin Dziczek of the Center of Automotive Research says there's simply no motivation for Ford to build the Focus Active in the U.S now. Trump said Friday he is considering another US$267 billion of tariffs on China, which analysts said will affect virtually every category of consumer goods, to retaliate against what he calls unfair trade practices. Read More »

China vows to respond if U.S. takes new steps on trade

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But in a statement Sunday, Ford said "it would not be profitable to build the Focus Active in the U.S." given forecast yearly sales below 50,000. "Ford has abruptly killed a plan to sell a Chinese-made small vehicle in the U.S. Trump took to Twitter Sunday to declare victory and write: "This is just the beginning". For instance, as CNBC reported, the Koch Network launched a six-figure ad campaign, meant to campaign against Trump's tariffs. Read More »

Trump tells Apple to make in US to avoid China levies

Hong Kong and Shanghai led a broad sell-off across most Asian markets Monday after Donald Trump threatened to impose tariffs on all Chinese imports , ramping up fears of an all-out trade war between the world's top two economies. Trump, who is challenging China, Mexico, Canada and the European Union on trade issues, has now expressed displeasure about his country's large trade deficit with Japan. Read More »

Petrol breaches Rs 80 per litre mark in Delhi

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On the other hand, Mumbai is affected most with the hike as petrol and diesel are being sold at Rs 88.12 and Rs 77.32 per litre. At the same time, the diesel prices too marched ahead and was priced at Rs 78.83 per litre. The Central government had raised excise duty on petrol by Rs 11.77 a litre and that on diesel by 13.47 a litre in nine installments between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October previous year ... Read More »

Elon Musk smokes weed on Joe Rogan podcast

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Back in April 2016, Air Force awarded Musk's company with almost $83 million to launch a GPS III satellite, and extended contracts in the following years. The comedian then asked if smoking on air would cause issues with stockholders, to which Musk responded, "It's legal, right?" and then proceeded to take a puff. Read More »

Jack Ma to retire in September 2019 - Alibaba

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Ma planned to use his 54h birthday to announce his retirement to devote his time to philanthropy focused on education. The company announced Monday that Ma will be succeeded by Daniel Zhang, the company's CEO. Zhang will also retain the CEO title, the company said. He took care not to project himself bigger than the CPC leadership though he has emerged as modern China's most revered corporate icon. Read More »

Apple says proposed China tariffs will boost product prices

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White House economic adviser Larry Kudlow said on Friday the Trump administration would evaluate the public comments before making any decisions on the new proposed tariffs . The new $267 billion in tariffs would cover the value of all goods the Unites States buys from China, U.S. government data from a year ago show. "But there is an easy solution where there would be ZERO tax, and indeed a tax incentive". Read More »

August Jobs Report: Economy Adds 201,000 Jobs; 3.9 Percent Unemployment

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Friday's jobs report showed that professional and business services, a category that includes both higher-paying fields such as engineering and accounting and lower-paying temp jobs, led August's job growth with 53,000 added positions. Job gains in August were nearly across all sectors, though manufacturing payrolls fell by 3,000. Sales of existing homes dropped in July for a fourth straight month. Read More »