Markets

SpaceX tries for third time to launch array of internet satellites

SpaceX tries for third time to launch array of internet satellites That milestone will come around Starlink launch number 30, with 1,800 satellites delivered to orbit, he said . A SpaceX launch from the Cape Canaveral was successful Thursday night. "This is a key stepping stone on the way toward establishing a self-sustaining city on Mars and a base on the moon". Small boosters will see the satellites push out to an orbit of 342 miles (550 kilometers) in c... [Full Article...]

Oil plummets, on track for biggest weekly drop in 2019

Oil plummets, on track for biggest weekly drop in 2019 The country imports most of its oil from Russia , Saudi Arabia , Angola and a handful of other suppliers, and it is looking to maintain maximum flexibility in a fluctuating market amid a crackdown on Iranian exports and political turmoil in Venezuela that has vastly curtailed supply. [Full Article...]

Russia Finally Brings Oil Production Below OPEC+ Cap

Russia Finally Brings Oil Production Below OPEC+ Cap Adding that the OPEC would act, if there had been a supply shortage, Falif said, "I am not sure there is a supply shortage, but we will look at the ( market ) analysis". Ibe Kachikwu, yesterday said in Jeddah , Saudi Arabia , that he hoped the crude oil supply cut agreement between the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members would be extended until the end of 20... [Full Article...]

Huawei already seeing a reprieve on USA trade ban, report says

Huawei already seeing a reprieve on USA trade ban, report says Huawei said in a statement it will "continue to provide security updates and after-sales services to all existing Huawei and Honor smartphone and tablet products". The Google loss was likely to cost Huawei all of its smartphone sales outside China as "device purchasing is now nearly entirely driven by the ecosystem", said another industry analyst, Richard Windsor. [Full Article...]

Saudi Shuts Major Oil Pipeline after Huthi Drone Attacks

Saudi Shuts Major Oil Pipeline after Huthi Drone Attacks Minister of State for Foreign Affairs Anwar Gargash said he would not speculate about who was behind Sunday's sabotage acts on four vessels, including two Saudi tankers, near Fujairah emirate while an investigation was underway and due to be completed within days."We need to emphasize caution and good judgment". [Full Article...]

Supreme Court rules against Apple in lawsuit targeting App Store

Supreme Court rules against Apple in lawsuit targeting App Store The decision also could let consumers sue Amazon by arguing that the fees it charges third-party sellers inflate the prices of products, said Hal Singer, an economist at Econ One Research Inc. According to statistics portal Statista, US customers spent $46.6bn (£36bn) on a combination of in-app purchases, subscription and premium apps in 2018. [Full Article...]

Binance confirms $40 mln worth of Bitcoin stolen by hackers

Binance confirms $40 mln worth of Bitcoin stolen by hackers Likely thanks to Binance's functionality of covering the loss of 7,000 BTC , rate more than $41 million, with company funds, the hack had virtually no impact on the trace of bitcoin . According to Binance , a vulnerability in their security protocols was exploited, giving access to hackers to one of their hot wallets used for trading. [Full Article...]

Uber stock drops in rocky debut

Uber stock drops in rocky debut The year's biggest IPO comes against a backdrop of turbulent financial markets, fueled by the trade dispute between the United States and China , as well as the plunging share price of Lyft, which is down 23 percent from its IPO price in late March. [Full Article...]

Chinese Tariffs Will Raise to 25% Tomorrow Unless Talks Progress

Chinese Tariffs Will Raise to 25% Tomorrow Unless Talks Progress The sudden rupture has roiled global stock markets this week, inflaming anxieties among exporters, markets and industries that had been lulled into optimism in recent months as both sides steadily announced progress in their efforts to end the trade war Trump started previous year. [Full Article...]

USA hikes tariffs on Chinese goods, Beijing vows retaliation

USA hikes tariffs on Chinese goods, Beijing vows retaliation The claim was backed-up by White House Press Secretary Sarah Sanders, claiming the Trump administration had received "indications" from China that the country would be interested in cutting a deal. Markets in Europe and Asia sank again on Thursday. "They didn't realise when they pulled their concessions off the table that the administration would have the reaction that it did", he told AFP . [Full Article...]

Uber, Lyft drivers on global strike just before Uber's IPO

Uber, Lyft drivers on global strike just before Uber's IPO As tokens of goodwill, the companies have offered drivers who meet certain thresholds cash bonuses ahead of going public. It's unclear how disruptive the demonstration will be. Ahead of the actions, Lyft said its hourly wages have risen over the last two years and average over $20 per hour. Don Creery, another Uber driver, said the strike is "the culmination of years of pay being cut b... [Full Article...]

US crude oil inventories drop unexpectedly as imports fall

US crude oil inventories drop unexpectedly as imports fall President Donald Trump . "'Don't do business with this people until they understand that there is a way to that you conduct yourself in the global community'". According to the official, more than 130 million barrels of oil were exported from Iran's offshore fields in the fiscal year that ended March 20. [Full Article...]

Trump threatens higher tariffs on $200bn of Chinese goods

Trump threatens higher tariffs on $200bn of Chinese goods No!" Trump also raised the possibility of imposing a 25 per cent tariff on another US$325 billion in imports from China not now covered. An increase to 25 percent tariffs on $200 billion in Chinese exports from 10 percent would raise the drag to 0.9 percentage point. [Full Article...]

Billionaire Warren Buffett gives new hint about his successor

Billionaire Warren Buffett gives new hint about his successor Heinz, which Berkshire and Brazil's 3G Capital controlled. Mr Buffett said 3G's management, which is responsible for the day-to-day running of the food company, was doing well operationally. The stock is up 30 percent in 2019. Warren Buffett on Saturday rejected a frequent criticism that his Berkshire Hathaway Inc does not disclose enough about its more than 90, often large operating busin... [Full Article...]

Tesla announces United Kingdom prices for Model 3

Tesla announces United Kingdom prices for Model 3 Tesla's plan includes a $ 10 million stock purchase from CEO Elon Musk . On a call with investors earlier this month, Musk had been non-commital when asked about raising new capital for the company. Shares in the company have dropped 28% since the beginning of the year. The interest rate, conversion price and other terms of the notes are to be determined. [Full Article...]

Amazon Got a Place in Berkshire Hathaway's Portfolio

Amazon Got a Place in Berkshire Hathaway's Portfolio These results illustrate what Buffett has called the "wild and capricious" and, in his view, meaningless swings caused by an accounting rule requiring the reporting of unrealized stock gains with earnings, regardless of Berkshire's plans to sell. [Full Article...]

Berkshire steps into fight for Anadarko on Occidental’s side

Berkshire steps into fight for Anadarko on Occidental’s side As a result, Anadarko on Monday agreed to start talking to Occidental, saying its bid could potentially be superior to Chevron's existing deal to buy Anadarko for $33 billion in cash and stock. Anadarko Petroleum Corp. admitted Chevron's bid despite the fact that it had been in talks with Occidental for a while. The preferred stock will accrue dividends at 8% per annum (or with respect to d... [Full Article...]

Facebook Will Let You Talk To Friends Across Messenger, Instagram, And WhatsApp

Facebook Will Let You Talk To Friends Across Messenger, Instagram, And WhatsApp Facebook unveiled a redesigned mobile app and website at its annual F8 conference for developers, while CEO Mark Zuckerberg said in a keynote presentation that "the future is private" to address concerns about the company's data-sharing practices. [Full Article...]

Pompeo, Lavrov trade accusations on Venezuela in phone call

Pompeo, Lavrov trade accusations on Venezuela in phone call Venezuela's UN Ambassador Samuel Moncada rejected Bolton's remarks as "propaganda". Flight tracking service FlightRadar24 on Tuesday evening showed some flights between South America and Europe were crossing Venezuelan airspace, but at altitudes above 26,000 feet. [Full Article...]

India is one of YouTube's fastest growing markets: Google CEO Sundar Pichai

India is one of YouTube's fastest growing markets: Google CEO Sundar Pichai Of this year's revenue, 84.5% came from advertising whereas it accounted for 85.5% last year. Major competitors for ad spending such as Facebook Inc, Snap Inc, Amazon.com Inc and Twitter Inc all reported last week quarterly revenue above or in line with analysts' expectations. [Full Article...]


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