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Economy

Global stock markets have slumped in the past two months on worries about corporate earnings, rising borrowing costs, slowing global economic momentum and trade tensions. USA inventories are on track for a ninth weekly increase, the longest run in more than a year, according to a Bloomberg survey before government data due Wednesday.
  • Oil teeters near record losing streak after entering bear market

    Oil teeters near record losing streak after entering bear market

    Economy

    WTI crude CLc1 futures fell 48 cents to $60.19 a barrel, a 0.8 percent loss by 11:24 EST (1624 GMT), after dropping under $60 a barrel to its lowest in eight months. Any return to limiting supply would follow a June decision by the OPEC-led group to relax output curbs in place since 2017, after pressure from U.S.
  • MI voters legalize recreational marijuana

    MI voters legalize recreational marijuana

    Economy

    Permit retail sales of marijuana and edibles subject to a 10% tax, dedicated to implementation costs, clinical trials, schools, roads, and municipalities where marijuana businesses are located. MI residents over 21 years old will soon be able to buy, possess, use, and grow marijuana. Both Missouri and Utah were won handily by President Donald Trump in the 2016 general election, but Cowen analyst Vivien Azer says that support for marijuana is becoming more bipartisan.
  • Seoul granted waiver to buy Iranian oil

    Seoul granted waiver to buy Iranian oil

    Economy

    The 2015 Iranian nuclear deal rolled back sanctions against Tehran in exchange for a reduction in the country's nuclear abilities. "Treasury's imposition of unprecedented financial pressure on Iran should make clear to the Iranian regime that they will face mounting financial isolation and economic stagnation until they fundamentally change their destabilizing behavior", Steven Mnuchin, the Treasury Secretary, said in a statement Monday, the day the sanctions kicked in.
  • Amazon Is Offering Free Shipping For All

    Amazon Is Offering Free Shipping For All

    Economy

    The guaranteed time of delivery is between 5-8 days of the time it's shipped. Amazon is making more than three million items eligible for same-day delivery for the holidays. If anyone does not have Prime and wants to try it, Amazon is willing to offer free trials even while this free shipping promotion runs its course.
  • Trump says progress made in China trade spat, deal 'likely'

    Trump says progress made in China trade spat, deal 'likely'

    Economy

    In a phone call with U.S. President Donald Trump , Xi also said China would continue to play a constructive role in the process. Reports earlier Friday said that President Trump had asked officials to prepare a draft of a trade agreement with the world's second largest economy, prompting the Dow to rise.
  • Sino-US Relations Can Improve, Says Chinese Premier Amid Trade War

    Sino-US Relations Can Improve, Says Chinese Premier Amid Trade War

    Economy

    But Trump described the call between the two leaders as "a long and very good conversation" and said "discussions are moving along nicely". President Donald Trump said Thursday said trade discussions with China were "moving along nicely" and that he planned to meet with Chinese President Xi Jinping at the upcoming G-20 summit after a "very good" talk with his counterpart.
  • Trump to Hold 11 Campaign Rallies Ahead of 2018 Midterm Elections

    Trump to Hold 11 Campaign Rallies Ahead of 2018 Midterm Elections

    Economy

    Opinion polls and political forecasters generally show Democrats having a strong chance of winning a House majority, with Republicans expected to keep control of the Senate. But according to the Cook Report , which analyzes individual House races, the Democrats only have a net 16-seat polling advantage. Vice President Mike Pence appeared Thursday at a rally for DeSantis in Jacksonville -- another region that has been a Republican stronghold.
  • Slows Slightly During Third Quarter

    Slows Slightly During Third Quarter

    Economy

    If trade matched its average contribution since 2015, a 0.33 point drag, GDP would have come in at 5%. The Congressional Budget Office points to several reasons for that: the expiration of personal income tax cuts, slower growth in federal spending, and higher interest rates and prices.
  • Boeing 737 plane crashes in sea off Jakarta

    Boeing 737 plane crashes in sea off Jakarta

    Economy

    Relatives of passengers of Lion Air flight JT610 that crashed into the sea, cry at Depati Amir airport in Pangkal Pinang, Indonesia. Its only fatal accident to date was when a MD-82 crashed upon landing at Solo City in 2004, killing 25 of the 163 people on board, according to the Flight Safety Foundation's Aviation Safety Network.
  • Fed Vice Chairman: Strong Growth Supports Case for Continued Rate Rises

    Fed Vice Chairman: Strong Growth Supports Case for Continued Rate Rises

    Economy

    The criticism echoes comments Trump made last week in an interview with Fox Business in which he said that the Fed is his "biggest threat". "If strong growth and robust employment gains were to continue into 2019 and be accompanied by a material rise in actual and expected inflation", he said, "that circumstance would indicate to me that additional policy normalization might well be required beyond what I now expect".
  • Text leads to Mega Millions win for Virginia woman

    Text leads to Mega Millions win for Virginia woman

    Economy

    Powerball has climbed since the last winning ticket took home the jackpot in NY in August. That means the drawing on Saturday Oct. 27 will be worth $750 million with a cash option of $428.6 million. The jaw-dropping jackpot failed to break the record for lottery winnings, held by the $1.586 billion Powerball prize in January 2016. His ticket did not match the Mega Ball, but did match all five of the white ball numbers.
  • Japan announced a

    Japan announced a "new era" in relations with Russian Federation

    Economy

    One of the key agreements the two sides expect to sign during the 28-29 October meeting is on Japan giving a second tranche of funds for the flagship Mumbai-Ahmedabad high speed railway, foreign secretary Vijay Gokhale said. Li also indicated that Beijing wanted to lift the relationship to "a new phase". The Trump administration has imposed huge trade tariffs which it says are in retaliation for other countries' unfair trade practices.
  • FACT CHECK: Saudi Arabia's changing narrative over journalist's murder

    FACT CHECK: Saudi Arabia's changing narrative over journalist's murder

    Economy

    The statement said, "The public prosecution continues its investigation with suspects.to complete the course of justice". Haspel made a secret visit to Turkey this week to check evidence of audio recordings provided by Turkey that it claims capture the murder, The Washington Post reported on Wednesday.
  • Iran Claims Its Oil Exports 'Unstoppable'

    Iran Claims Its Oil Exports 'Unstoppable'

    Economy

    Saudi Arabia can boost its crude production from the current 10.7 million barrels a day to counter supply losses from Iran , minister Al-Falih said at a conference in Riyadh. Energy Information Administration (EIA) on Wednesday. "We dropped precipitously on the idea global demand is going to slow". Recent moves in Brent crude illustrate this contradiction.
  • Turkish President on Khashoggi probe

    Turkish President on Khashoggi probe

    Economy

    Turkish President Recep Tayyip Erdogan on Tuesday discussed the journalist Jamal Khashoggi's death . "This is a political murder", he added. A Saudi official later told Reuters that 15 Saudi nationals sent to Turkey to confront Khashoggi had threatened him with being drugged and kidnapped and then killed him in a chokehold when he resisted.
  • Lottery Jackpots Continue to Grow

    Lottery Jackpots Continue to Grow

    Economy

    The estimated jackpot for that drawing would tie the largest lottery prize in USA history. "If sales are running ahead, we may take the jackpot up another notch", Mega Millions lead director Gordon Medenica told The Post. The Mega Millions game, which was created in 2002, has seen changes over the years that have reduced the chances of winning, meaning bigger and bigger jackpots.