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French President Emmanuel Macron was both humble and resolute as he spoke publicly for the first time on the anti-government protests that have shaken the country. Macron also made it clear he meant to push on with planned reforms of social security and pensions. Pensioners earning less than €2,000 would see recent increases in social security taxes scrapped.
  • Opec defies Trump with production cut

    Opec defies Trump with production cut

    Markets

    It is believed that it will have a huge effect on India and once again the order of the price hike of petrol and diesel may start. A total of 1.2 million barrels of oil a day are set to be removed from the market. Oil had plunged by more than 30 per cent earlier this month from a four-year high in October, as concern over excess supply was fueled by sanctions waivers given for some buyers of Iranian oil and growing USA crude inventories and production.
  • US hiring slowed to 155K jobs, jobless rate stayed 3.7%

    US hiring slowed to 155K jobs, jobless rate stayed 3.7%

    Markets

    Job gains averaged 170,000 per month over the past three months. Average hourly earnings rose six cents, or 0.2 percent in November. Still, ongoing interest rate hikes by the Federal Reserve, a possible increase on tariffs with China, and weakening global growth have upset financial markets.
  • Southwest Airlines flight skids off runway at Burbank airport

    Southwest Airlines flight skids off runway at Burbank airport

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    According to a statement issued by the FAA , the Boeing 737 came to rest in the Engineered Material Arresting System (EMAS) at the end of Runway 8. The FAA added the airport remains open and that flights to and from Burbank are fully operational. "Mud was hitting the windows", passenger Grant Palmer said.
  • Marlboro's Parent Company Altria Buys Massive Stake In Cannabis Firm Cronos

    Marlboro's Parent Company Altria Buys Massive Stake In Cannabis Firm Cronos

    Markets

    While the beverage giant has yet to announce any formal partnership, Bloomberg reported last September that Coca-Cola was in advanced talks on a deal with Aurora Cannabis, another Canada-based firm. Marijuana, while still illegal on the federal level in the U.S., is allowed in an increasing number of states. This week, Aphria Inc., one of the country's largest cannabis growers, was defending itself against accusations of striking deals to enrich insiders made in a widely read short-sellers' ...
  • China promises prompt action on US trade pact

    China promises prompt action on US trade pact

    Markets

    In a series of tweets on Wednesday, President Donald Trump said that there were " very strong signals " that China was ready to reach a trade deal with the United States. "Then, in the next 90 days, we will follow a clear timetable and roadmap to negotiate on issues such as intellectual property right protection, tech cooperation, market access and trade balance", he said, stressing the consultations should be based on meeting the interests of both parties.
  • Stocks drop as falling United States yields, trade worries hit mood

    Stocks drop as falling United States yields, trade worries hit mood

    Markets

    The flattening of the curve gained momentum after last week's signal by the Federal Reserve that it may be nearing an end to its three-year rate-increase cycle. It may take two rate hikes or more for that portion of the curve to invert. The Big One will be when 2-year and 10-year Treasury rates swap places, and bond traders are doing their darnedest to make it happen soon, as Robert Burgess points out.
  • China-US Ceasefire Paves Way For New LNG Projects

    China-US Ceasefire Paves Way For New LNG Projects

    Markets

    In addition, Treasury Secretary Steven Mnuchin said Tuesday on the Fox Business Network that China agreed to buy $1.2 trillion of US products. "China will begin implementing specific issues that have reached consensus immediately, the sooner the better", a spokesperson for the Chinese Ministry of Commerce told reporters in a statement that was later published on its website.
  • Wall Street losses deepen on growth, trade worries

    Wall Street losses deepen on growth, trade worries

    Markets

    Tuesday's losses more than erased the gains of the previous two trading days, when cautiously optimistic investors bid up stock prices amid hopes that USA and China were resolving their trade dispute. -China trade war and a possible economic slowdown. The Dow Jones Transport Average .DJT declined 4.4 percent, its biggest one-day percentage drop since June 2016.
  • Trudeau says he had advance notice of Huawei executive's arrest

    Trudeau says he had advance notice of Huawei executive's arrest

    Markets

    The arrest took place on the same day Trump met with Chinese President Xi Jinping to discuss the trade war after the close of the G-20 summit in Argentina. Meng is not only the chief financial officer of Huawei but the daughter of the tech giant's founder , Ren Zhengfei. Britain's largest mobile provider BT announced Wednesday it was removing Huawei's telecommunications equipment from its 4G cellular network, after the MI6 foreign intelligence service chief singled out the company as ...
  • Canada Arrests Huawei CFO; Extradition Hearing to US Planned

    Canada Arrests Huawei CFO; Extradition Hearing to US Planned

    Markets

    Jia Wenshan, a professor at Chapman University in California, said the arrest "runs a huge risk of derailing the U.S". If Meng has been arrested for violating these restrictions, then this would mark the start of another significant technology export regulation case for the US.
  • Saudi Arabia doesn’t need U.S. permission to cut oil output - energy minister

    Saudi Arabia doesn’t need U.S. permission to cut oil output - energy minister

    Markets

    But OPEC and its partners, who account for more than half of the world's oil output, are planning to throttle production, which could lead to rising oil prices. President Trump's Tweet could be seen as a warning to the cartel to measure any production cuts carefully, but OPEC has always been the target of Trump's tweets, even prior to his presidency, chastising the organization for restricting oil during the near-$100/barrel days.
  • The next challenge for Canada's oil patch comes from the sea

    The next challenge for Canada's oil patch comes from the sea

    Markets

    On Dec. 2, Alberta Premier Rachel Notley announced a temporary mandatory oil cut of 325,000 bbls/d to address the province's current storage glut, a result of insufficient pipeline takeaway capacity. Alberta's oil is selling a markedly lower rates compared with the North American benchmark, due in part to oil pipeline bottlenecks. "We request that Energy Market Access and the Economic Impacts of the Price Differential be added as an agenda item for discussion this week".
  • Huawei CFO Wanzhou Meng arrested in Vancouver, faces extradition to U.S.

    Huawei CFO Wanzhou Meng arrested in Vancouver, faces extradition to U.S.

    Markets

    Canadian Justice Department press representative Ian McLeod confirmed Wanzhou's court hearing is scheduled for Friday. "The ban was sought by Ms. Meng", McLeod said . Wanzhou Meng, Huawei's chief financial officer, was arrested in Vancouver, British Columbia, Canada today. "The company believes the Canadian and USA legal systems will ultimately reach a just conclusion", it said.
  • France Delays New Fuel Tax After Violent Protests

    France Delays New Fuel Tax After Violent Protests

    Markets

    Protests continued Wednesday, with petrol depots, service stations, and shopping centres among the targets of the "yellow vests " or " gilets jaunes " - so-called for the high-visibility road safety jackets they wear. To be sure, Macron's recent efforts to combat "climate change" and reduce France's dependence on " fossil fuels" by levying a new tax on gasoline and other household fuels is not the only reason the French are protesting, but fuel tax is the "straw that broke the camel's back".
  • President Trump reaches truce with Chinese officials

    President Trump reaches truce with Chinese officials

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    There was no immediate statement from either side when the dinner of more than two hours ended in Buenos Aires . "He has his own position, I have my own position; we each stuck to our own views, but in any case I informed him about our perspective on this incident", he added.
  • Trump signals that he's open to longer China talks

    Trump signals that he's open to longer China talks

    Markets

    And Treasury Secretary Steven Mnuchin said Tuesday on the Fox Business Network that China agreed to buy $1.2 trillion of USA products, but added, "if that's real" it would close the trade deficit with China and said "we have to have a negotiated agreement and have this on paper".
  • Qualcomm Could Re-open Negotiations with NXP, says a Senior Analyst

    Qualcomm Could Re-open Negotiations with NXP, says a Senior Analyst

    Markets

    Qualcomm first announced plans to acquire NXP, based in the Netherlands, in October 2016. NXP did not immediately respond to an emailed request for comment on Monday. Qualcomm and NXP did not lobby for the Trump administration to bring up the abandoned deal in its meeting with Xi and other Chinese officials on the sidelines of the G20 summit in Buenos Aires on Saturday, which was dominated by negotiations over trade tariffs, according to sources close to the companies.
  • Quora becomes latest victim of data breach; around 100 million users affected

    Quora becomes latest victim of data breach; around 100 million users affected

    Markets

    Quora has already begun emailing affected users. But it will do less to shield people who, despite a Quora policy to the contrary, may have used a pseudonym as their account name or who discussed sensitive matters in direct messages. Compromised information includes hashed passwords , user names, email addressed, questions and answers, as well as data imported from linked networks.
  • NCBA Welcomes USMCA Signing; Will Work with Congress to Secure Passage

    NCBA Welcomes USMCA Signing; Will Work with Congress to Secure Passage

    Markets

    Democrats want a trade bill that strengthen protections for American workers in the wake of lower-cost options overseas, particularly in the wake of General Motor's announcement to shutter five USA factories. Shortly after Friday's signing, U.S. Trade Representative Robert Lighthizer insisted that the deal was negotiated with bipartisan support from both Democrats and Republicans, and expressed confidence it would survive the congressional approval process.
  • Amazon is planning to open bigger automated stores

    Amazon is planning to open bigger automated stores

    Markets

    There are nearly 500 Whole Foods in the USA, although the chain does also have a small United Kingdom presence, with seven stores, all of which are in London. Amazon has moved deeper into physical retail over the past few years after more than two decades shaping how people shop online. You scan the Amazon Go app on your phone as you arrive, pick up items while monitored by the store's cameras and you're charged via your Amazon account as you leave.
  • Powell backs rate hikes; says financial risks contained

    Powell backs rate hikes; says financial risks contained

    Markets

    Another narrow trading range for the yellow metal ($1210-1228) with prices closing lower by 0.3%. Trump also blamed the Fed for the layoffs at General Motors and the stock market's recent wobbles. US crude rose 2.31 percent to $51.45 per barrel and Brent closed at $59.51, up 1.28 percent on the day. Continue to monitor the movement in the U.S.
  • Alberta premier announces 8.7 per cent oil production cut to increase prices

    Markets

    Shares in Suncor Energy Corp., which had also opposed intervention, rose 2.2 per cent to $43.83 after the Alberta action helped bolster North American crude prices. The statement goes on to say this is an extreme case in need of curtailment. "Ottawa's failure in this area has left Alberta's energy producers with few options to move their products, resulting in serious risks for the energy industry and Alberta jobs", reads a release from the province.
  • Schedule of funeral plans for George H.W. Bush

    Markets

    An invitation-only funeral service is set for Wednesday at Washington National Cathedral, to be attended by President Donald Trump and other dignitaries. 5, 7:45 p.m. until Thursday, Dec. 6, 7 a.m. CNN reported that Sully would travel with the casket to Washington, D.C., where several days of remembrance ceremonies are being held.
  • Trump administration to Examine tools to Increase US tariffs on Chinese Autos

    Trump administration to Examine tools to Increase US tariffs on Chinese Autos

    Markets

    The U.S. and China over several months have imposed tit-for-tat tariffs on hundreds of billions of dollars of imports arriving from each other's shores. Ushakov said the two presidents also are to discuss regional crises, including the situation in Syria, the Iranian nuclear deal and North Korea. Saudi Arabia has denied that bin Salman played a role, but some leaders were concerned about seeming to legitimize a man who USA intelligence agencies concluded ordered the killing.
  • Oil Steadies As OPEC Leans Toward New Output Cuts

    Oil Steadies As OPEC Leans Toward New Output Cuts

    Markets

    Russian Federation and Saudi Arabia agreed to extend into 2019 their agreement to manage the oil market, known as OPEC + at the weekend's G20 meeting in Argentina. Oil futures reached near four years in early October, only to drop to a more year plus lows in late last week - the price of the global marker, Brent crude fell from a peak settlement of $US86.29 a barrel on October 3 to $US58.76 on November 28.
  • Qatar will withdraw from OPEC effective January 2019: Minister

    Qatar will withdraw from OPEC effective January 2019: Minister

    Markets

    H.E. Al-Kaabi: the withdrawal decision reflects Qatar's desire to focus its efforts on plans to develop and increase its natural gas production from 77 million tons per year to 110 million tons in the coming years. That rising supply, coupled with the Trump administration allowing many countries to continue to import Iranian oil despite his targeting of Tehran with sanctions, has seen global prices drop.