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Markets

U.S. Treasury Secretary Steven Mnuchin said Thursday the market's reaction to the Fed's interest-rate hike was "completely overblown". In a news conference after the release of the policy statement, Fed Chairman Jerome Powell said the central bank would continue trimming its balance sheet by $50 billion each month, and left open the possibility that continued strong data could force it to raise rates to the point where they start to brake the economy's momentum.
  • Timmins Transit's schedules are changing for the holidays

    Timmins Transit's schedules are changing for the holidays

    Markets

    The Hillsborough Area Regional Transit authority has announced its service plans for Christmas Day and New Year's Day . Government workers will still receive the same pay as for a 40-hour work week, according to Newsweek . on Christmas Eve . Some 24% are expected to make their last purchases on Saturday or Sunday, with 7% saying they will still be shopping on Christmas Eve .
  • Japan prosecutors file new allegation against Nissan's Ghosn

    Japan prosecutors file new allegation against Nissan's Ghosn

    Markets

    The new charges allege Ghosn transferred losses exceeding $16 million from his own private investments onto the books of Nissan between 2008 and 2012, thus inflicting financial damage on the automaker, Bloomberg reported Friday. Nissan, which has also been indicted in the case, has said Ghosn and Kelly's alleged misconduct was first brought to its attention by a whistleblower.
  • Markets Right Now: Stocks plunge again, Dow sinks 464 points

    Markets Right Now: Stocks plunge again, Dow sinks 464 points

    Markets

    The energy sector has been a major drag on the S&P 500 Index , with oil prices trading near a 17-month low on fears of a global economic slowdown. All of the major indexes have lost 16 to 26 percent from their highs this summer and fall. Even with the drop since late August, Nasdaq is almost 400 percent above its March 2009 low, with a total return of more than 456 percent. The yield on the 10-year Treasury finished today nearly a half percent lower than its recent October peak.
  • Revenge! Glitter & Fart Bomb Greets Porch Pirates, Courtesy Of Former NASA Engineer

    Revenge! Glitter & Fart Bomb Greets Porch Pirates, Courtesy Of Former NASA Engineer

    Markets

    Mark Rober , who worked for seven years on NASA's Mars rover, Curiosity , chose to create the glitter bomb after his home security cameras captured thieves making off with a package from his doorstep in California. The return address was Kevin McCallister's, from the " Home Alone " movies, as a tribute to the prankster. The circuit board, which controls the device, complete with Global Positioning System locator and an accelerometer.
  • Facebook Considering New Cryptocurrency for WhatsApp

    Facebook Considering New Cryptocurrency for WhatsApp

    Markets

    The popular messaging platform is purportedly popular in India , boasting over 200 million users. Forward-looking: Targeting India makes sense for Facebook as the country leads the world in remittances . The country is ranked first in terms of remittances with non-resident Indians sending $69 Bn (INR 4.84 Lakh Cr) back to India in 2017, according to World Bank data.
  • Government Shutdown: What happens to average San Diegans?

    Government Shutdown: What happens to average San Diegans?

    Markets

    Second, households with a member who was furloughed and required to stay home from work slashed their spending more dramatically - by 15 percent to 20 percent, or nearly twice as much as the average of those affected. Contractors who work for the federal government may not be so lucky. However, if a shutdown is resolved in a relatively short amount of time, with workers being paid back their regular income, the damage would likely be fairly contained.
  • GST Council cuts rates on TVs, movie tickets; cement, ACs left untouched

    GST Council cuts rates on TVs, movie tickets; cement, ACs left untouched

    Markets

    GST rate on cinema tickets above Rs. 100 shall be reduced from 28% to 18% and on cinema tickets up to Rs 100 from 18% to 12%. Initially, when GST had just been imposed, on July 1, 2017, there were 226 goods in the 28 per cent slab. Jaitley said, a reduction in GST rates on Cement would cost Rs 13,000 crore. "99 per cent articles will be 18 per cent or below 18 per cent rate", he said, adding that GST should be made as simple and as convenient as possible.
  • Ford recalling 410,289 F-Series trucks to fix engine heater flaw

    Ford recalling 410,289 F-Series trucks to fix engine heater flaw

    Markets

    According to a report filed with the National Highway Traffic Safety Administration, block heaters in the vehicles could cause a fire. These vehicles were built at the Dearborn Truck Plant between March 18, 2014 and November 17, 2018. Ford dealerships will inspect affected block heater cables and replace them entirely if they find evidence of damage or corrosion. If there are no signs of damage or corrosion, dealers will apply dielectric grease to the splice connector and reconnect.
  • Ford applied noise-cancelling technology to a doghouse, and it’s awesome

    Ford applied noise-cancelling technology to a doghouse, and it’s awesome

    Markets

    As the owner of a West Highland Terrier who is traumatized by the sound of fireworks, I'm hoping it becomes a real product. "An estimated 45 percent of dogs in the United Kingdom show signs of fear when they hear fireworks - causing distress to owners and their families too", the company explains in a new blog post.
  • Fed's Powell embraces uncertainty and risks that go with it

    Fed's Powell embraces uncertainty and risks that go with it

    Markets

    This is because traders and investors can diversify into Bitcoin during times of stock market crisis, since Bitcoin is independent of the stock market and could, therefore, be considered a safe haven asset. The median projection is for the benchmark rate to end 2021 at 3.1 per cent, down from a prior estimate of 3.4 per cent. The Fed forecast one rate increase in 2020.
  • After Altria deal, Juul employees to get $2B bonus

    After Altria deal, Juul employees to get $2B bonus

    Markets

    Accordingly, cigarette sales have been falling: In 2017, they were down 3.5 percent from the year before. Juul CEO Kevin Burns addressed the "skepticism that comes with an affiliation and partnership with the largest tobacco company in the US" while reiterating the vape brand's commitment to improving the lives of adult smokers by weaning them off of cigarettes.
  • Fed Raises Rates Despite Trump Attacks, Stocks Tank

    Fed Raises Rates Despite Trump Attacks, Stocks Tank

    Markets

    The stock market turned sharply negative Wednesday, erasing earlier gains , after the central bank said it would hike interest rates to a target range of 2.25% and 2.5%, a move that was widely expected. and overseas. The Fed expressed confidence in the USA economy, saying economic activity "has been rising at a strong rate" and the labor market "has continued to strengthen", according to the statement.
  • Japan court denies extended detention of Nissan's Ghosn

    Japan court denies extended detention of Nissan's Ghosn

    Markets

    Prosecutors allege Ghosn's pay was underreported by a total of almost 10 billion yen ($80 million). The Tokyo district court also rejected an extension for Carlos Ghosn aide Greg Kelly , who was also detained on the same day. Prosecutors appealed the decision but the court rejected it. Nissan's partner Renault has so far not removed Ghosn from the post of chief executive officer, but instead appointed an interim person to the role.
  • The world’s biggest beer company is looking at making cannabis drinks

    The world’s biggest beer company is looking at making cannabis drinks

    Markets

    The research will be spearheaded by Labatt Breweries of Canada, one of AB InBev's Canadian subsidiaries, and Toronto-based High Park Co., a Tilray subsidiary that develops and distributes cannabis goods. With Democrats winning control of the US House of Representatives, Congress may finally pass the Farm Bill, which would make it legal to produce hemp and potentially open the door for more products containing cannabidiol (CBD), a element found in cannabis.
  • Police arrest three more suspects in killing of Danish, Norwegian women

    Police arrest three more suspects in killing of Danish, Norwegian women

    Markets

    Norwegian hiker Maren Ueland, 28, and Danish victim Louisa Vesterager Jespersen, 24, were discovered in their tent after being stabbed in the neck in Morocco's Atlas Mountains on Monday. Investigations are also going on to authenticate a video tape shared on social media claiming to show the killing of one of the tourists, the general prosecutor said in a statement.
  • Senate passes temporary spending bill to keep government running

    Senate passes temporary spending bill to keep government running

    Markets

    Mr. Trump could consider a short-term funding deal to avoid a shutdown, White House counselor Kellyanne Conway said Wednesday morning. Trump has still not indicated if he will compromise with lawmakers to keep the government operating. "The measure will provide the resources necessary to continue normal operations". "That's something that we would be able to support", she said, as long as it's coupled with other funding.
  • Trump on verge of giving up best chance to secure wall money

    Trump on verge of giving up best chance to secure wall money

    Markets

    Kolfage makes a reference to Palazzo's plan in his campaign's description, saying it is "one option" for the funds raised, adding that "there are others on the table being discussed". Either Trump never meant to build a wall and was scamming voters from the beginning or he hasn't the first idea in how to get it done and no interest in finding out...
  • Gender equality at work more than 200 years off: WEF

    Gender equality at work more than 200 years off: WEF

    Markets

    Among the Group of 20 major countries, its standing was only higher than South Korea (115th), Turkey (130th) and Saudi Arabia (141st). Meanwhile, Iceland holds the top spot in the Index for the 10th consecutive year, having closed more than 85.8% of its overall gender gap.
  • How major United States stock indexes fared Tuesday

    How major United States stock indexes fared Tuesday

    Markets

    Contracts on the S&P 500 Index expiring in March climbed as much as 0.7 percent after the equity gauge closed little changed on Tuesday. All three indexes - Dow, S&P and Nasdaq - are in correction mode. local time, closing in on two-year lows and is down 12% so far this year. Trump administration economic adviser Peter Navarro said on CNBC Monday morning that the Fed is the source of volatility and the stock slide.
  • China Vows to Open Up Wider to World

    China Vows to Open Up Wider to World

    Markets

    In his speech, Xi Jinping stood up to global calls for changes to his country's economy by stating, "No one is in a position to dictate to the Chinese people what should or should not be done", Xi said in Mandarin Chinese during his speech, according to an official translation broadcast through state media.
  • Gatwick Airport shuts over drone fears

    Gatwick Airport shuts over drone fears

    Markets

    Passengers reported that some flights were diverted to other United Kingdom airports, including Birmingham, Manchester and Stansted. Gatwick officials said two drone were sighted near the runway. One tweeter said: "Dear @British_Airways thanks for diverting our plan to Stansted and now Heathrow (even though we were meant to land at Gatwick) and now you're not even letting us off the plane".