Finance


Boom! Trump rally carries stocks to new records
- November 22, 2016

The index, along with the Dow, Nasdaq and S&P, closed at record highs on Monday, the first such instance since December 1999. Stocks have seen a sharp spike since the US presidential election, as Donald Trump's surprise victory over heavy favorite Hillary Clinton brought enthusiasm for fiscal stimulus and deregulation of certain sectors, including banks and energy. (more...)
Did banks ignore RBI order on Rs 100-ATMs before demonetisation?
- November 21, 2016

After the move of Rs 500 and Rs 1000 currency notes Demonetisation the RBI has again chose to waive the charges for the ATM Transaction till the year end. Earlier on Sunday (13 November) evening, the finance ministry announced a Rs 500-extension in cash limits for exchange of old notes from banks and for withdrawal from ATMs. (more...)
USGS finds 20 billion barrels of oil in Wolfcamp shale in Texas
- November 21, 2016

In its first assessment of the Wolfcamp shale, the U.S. Geological Survey estimated the formation holds 20 billion undiscovered, technically recoverable barrels of oil, three times as much as the Bakken Shale in North Dakota. "USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources". The Wolfcamp shale play is also present in the Delaware Basin portion of the Permian Basin province, but was not included in the USGS's latest ... (more...)
PV Sindhu thrashes China's Sun Yu to win maiden Super Series title PV Sindhu thrashes China's Sun Yu to win maiden Super Series title
- November 21, 2016

P V Sindhu's coach Pullela Gopichand has lauded her for a "gritty" performance after she clinched the China Open on Sunday. Easy doesn't do it for PV Sindhu. It was important for me to get a super series title. "Overall it was a good match ", Sindhu told TOI from Fuzhou . Having lost all such close matches in the past, it was hard to predict in Sindhu's favour. (more...)
Volkswagen to axe 30000 jobs worldwide
- November 20, 2016

The so-called future pact, hammered out between both sides since June, aims to increase the brand's operating margin to 4 percent by 2020, from an expected 2 percent this year, the company said. The VW group has 12 brands from seven European countries: Volkswagen passenger cars, Audi, Seat, Skoda, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen Commercial Vehicles, Scania and MAN. (more...)
India Struggles as Millions Throng Banks to Swap Currency
- November 19, 2016

The ban is majorly aimed at fighting corruption and tax elusion. Families began hoarding small-denomination currency, merchants reported plummeting business and salaries went unpaid. "Of course, apart from around a hundred others behind me", she said. Earlier on Monday, SBI announced that it had collected Rs 83,702 cror in cash deposits in last five days and exchanged Rs 4,146 crore of scrapped notes between November 10 and November 14 up to 5 pm. (more...)
US officials arrive in Australia to begin assessing asylum seekers
- November 19, 2016

Concluding his first official visit to Australia, the United Nations Special Rapporteur on the human rights of migrants said the country's human rights standing has been tarnished by its "regressive" migration policies that fall "way behind" worldwide standards. (more...)
ICICI, HDFC Bank cut fixed deposit rates by 0 ICICI, HDFC Bank cut fixed deposit rates by 0
- November 19, 2016

A day after the country's largest lender, State Bank of India (SBI ), reduced rates on fixed deposits of select maturities by up to 0.15 per cent. private sector lender Axis Bank cut MCLR by 0.15-0.2 per cent. A Rs 4 lakh crore addition to this base is equivalent to the cash reserve ratio, the slice of deposits that banks have to park with the central bank. (more...)
Mexico central bank hikes rates after peso's Donald Trump tumble Mexico central bank hikes rates after peso's Donald Trump tumble
- November 18, 2016

Thursday's monetary policy announcement comes after a tumultuous few weeks for the Mexican peso, which has been one of the big market casualties of the USA presidential election. The Banxico repeated that it has no target for the exchange rate, that is the central bank would raise if the weaker peso passes through to inflation, but would not do anything about the peso weakening, noted Nordea Bank. (more...)
AFSCME to Picket After Contract Impasse Declared with Illinois Governor's Office AFSCME to Picket After Contract Impasse Declared with Illinois Governor's Office
- November 18, 2016

If the union loses, workers can vote on whether to strike. AFSCME spokesman Anders Lindall said the union plans to appeal the decision if the Rauner administration doesn't return to negotiations. Illinoispolicy.org said IL state workers rank among the highest paid in the nation. Our state is in crisis mode, although you wouldn't know it by the nonchalance shown by some leaders, particularly the Democrats in charge of the state House and Senate, who seem content to appoint middlemen to ... (more...)
No. 20 Florida State starts fast in rout of Boston College No. 20 Florida State starts fast in rout of Boston College
- November 17, 2016

Cook had been chasing former FSU legend Warrick Dunn's record for yardage at the school. Going into the third quarter, Francois and the "Noles seemed destined to leave Doak Campbell Stadium with another win on the season". He also joined Clemson's Wayne Gallman as the only ACC backs to go over the century mark against the Eagles this season. "We've got a game plan for next week", he said. (more...)
Twitter suspends several alt-right accounts Twitter suspends several alt-right accounts
- November 17, 2016

Just last week, Amelia Tait at New Statesman noted that the alt-right's influence has surged, largely in part due to its use of social media networks. Others associated with the alt-right who had accounts suspended are Paul Town , Pax Dickinson, Ricky Vaughn and John Rivers . The SPLC went on to identify several individuals and organizations that promote racism on social media. (more...)
Iowa lawmaker to colleges: 'Suck it up, buttercup' Iowa lawmaker to colleges: 'Suck it up, buttercup'
- November 17, 2016

He finds the "whole hysteria to be incredibly annoying". "I don't consider it coddling". "This election was somewhat unique", Ketelsen said. "I've seen four or five schools in other states that are establishing " cry zones " where they're staffed by state grief counselors and kids can come cry out their sensitivity to the election results", Kaufmann told the Des Moines Register . (more...)
Taken rebirth, waiting for party's win: Jaya Taken rebirth, waiting for party's win: Jaya
- November 15, 2016

The Chief Minister is recovering at the Apollo Hospital where she was admitted on September 22. In a statement issued here, Stalin referring to Jayalalithaa's statement issued on Sunday, said at a time when common people in the state are not able to buy their daily essentials due to currency crunch there is nothing in the Chief Minister's statement alleviating the people's problem or even providing some words of comfort. (more...)
Banks have enough cash for exchange of demonetised notes: RBI Banks have enough cash for exchange of demonetised notes: RBI
- November 14, 2016

But it has disrupted the daily lives of hundreds of millions of Indians who live in the cash economy that is estimated to account for a fifth of India's US$2 trillion gross domestic product and who have low confidence in banks or plastic cards. (more...)
Anger grows in country as banks struggle to swap banned notes
- November 14, 2016

Many cash machines are not working because they have not been adapted for the new 500 and 2,000 rupee notes. Despite efforts by banks to ease the situation, people complained that ATMs were running dry within hours of re-opening and timely refilling was not being done in the metropolis or in the districts. (more...)
Mexico defeat U.S. 2-1 with late goal in World Cup qualifier
- November 14, 2016

Mexico's 2-1 win was the first time the U.S. have lost at Mapfre Stadium , the visitors having lost 2-0 there in each of their past four qualifying campaigns. "We respect our system, we respect our democracy and I think, as we have always done, people will find a way in this next stretch to come together to get behind our new president". (more...)
Two suspects in custody, active shooting in Crossgates Mall Two suspects in custody, active shooting in Crossgates Mall
- November 13, 2016

Saturday to the Crossgates Mall in the Albany suburb of Guilderland for a report of a possible shooting. "There were two men, they were shooting at each other - 15, 16 times, at least", she said. Shoppers and mall employees were directed to evacuate to the parking lots. Mall management is working with authorities, Lawlor said, "and hopefully we'll bring this to a successful conclusion". (more...)
Major indexes in Asia are also falling Major indexes in Asia are also falling
- November 13, 2016

The Mexican Peso and the Japanese Yen are the best currencies to watch for a view on the 2016 USA presidential election, and they are pointing to Trump. Trump's threats to repeal or renegotiate the North American Free Trade Agreement are real and so is the potential damage to Mexico's economy. In share markets, MSCI's broadest index of Asia-Pacific stocks outside Japan .MIAPJ0000PUS was still up 0.2 percent, while the Nikkei .N225 added 0.7 percent. (more...)
Donald Trump calls Electoral College "a disaster" in 2012 tweetstorm
- November 12, 2016

It was wide-ranging. We talked about some of the organizational issues in setting up the White House. The photo includes top White House senior adviser Valerie Jarrett, National Security Adviser Susan Rice and White House Communications Director Jen Psaki, among others, and nearly to the man, or woman, they were dressed in black as if attending a funeral. (more...)
RBI issues new series of Rs 500, Rs 2000 notes RBI issues new series of Rs 500, Rs 2000 notes
- November 12, 2016

Similarly, keeping in mind the supply of new notes, in the first few days, there will be a limit of Rs 10,000 per day and Rs 20,000 per week. Das said that the new series of Rs 500 notes have been named the Mahatama Gandhi series of bank notes. (more...)
Federal judge orders bottled water deliveries to residents in Flint, Michigan Federal judge orders bottled water deliveries to residents in Flint, Michigan
- November 12, 2016

Last month, an excellent investigation by the Detroit Free Press discovered that "likely paid hundreds of thousands of dollars too much for emergency supplies related to the Flint drinking water crisis because it used no formal bidding process, relied nearly exclusively on one out-of-state company with ties to a top aide to Gov. (more...)
Donald Trump elected president of the United States
- November 12, 2016

He's going to be president. But he has also shown himself to be a formidable political animal, and an unlikely populist hero with his promise to "Make America Great Again". On Fox News, the moderator of the last presidential debate wondered whether, in the seat of power, he'd continue to be the erratic insult-flinger he'd been on the stump. (more...)
Yahoo took its time investigating massive security breach Yahoo took its time investigating massive security breach
- November 11, 2016

Yahoo detected evidence that a hacker had broken into its computer network at least 18 months before launching an investigation that discovered personal information had been stolen from about 500 million user accounts. An independent committee is looking into who inside Yahoo knew about the hack and when. To reduce these consequences, organisations need to look at a number of issues. (more...)
Asia shares rebound in sharp turnaround from Trump shock Asia shares rebound in sharp turnaround from Trump shock
- November 11, 2016

More importantly though, the interest market has got excited about the prospect of inflation (driven by fiscal stimulus) and is now pricing in not just one full rate hike in 2017, but a 16% chance of a second. Trump's candidacy was skepticism toward trade and immigration. Before abruptly reversing course, government bond yields initially fell Tuesday evening as a victory by Mr. (more...)
Twitter lays off 9% staff Twitter lays off 9% staff
- November 10, 2016

The social network has been struggling to sign up new users amid competition from nimbler rivals such as Instagram and Snapchat . Still, the social media juggernaut that boasts roughly 313 million users, reported a 6 percent increase in advertising revenue compared to last year's third quarter , at $545 million, with 90 percent of ad revenue stemming from mobile. (more...)
Boris Johnson downplays ruling on Brexit
- November 10, 2016

With the dollar struggling amid concerns over a possible victory for Donald Trump in next week's US presidential election, sterling hit a four-week high of $1.2558, up 0.8 percent on the day. "The PM also confirmed that the government's planned timetable for notification of Article 50 remains unchanged", the statement added. Some pro-Brexit ministers have responded to this threat by suggesting that Mrs May call a general election in order to increase her Parliamentary majority to reduce the ... (more...)
India abolishes larger banknotes in fight against graft, "black money"
- November 09, 2016

Long lines were observed outside the ATMs, with people frantically trying to collect Rs 100 notes. The BJP president said announcements made by PM Modi are exactly what is needed to uproot corruption, black money, hawala and fake currency rackets. (more...)
Federal Bureau of Investigation director's email letter broke recent pattern
- November 08, 2016

During the February meeting, the lawyers did not direct the FBI to stop looking into the matter, but public-corruption prosecutors in Washington expressed disinterest in working with the FBI on a Clinton Foundation-related investigation based on information that was presented to them at the briefing, the people said. (more...)
Utah police ID officer fatally struck by car Utah police ID officer fatally struck by car
- November 07, 2016

Brotherson died at the scene. Officers in the area responded and reported seeing the suspects steal a vehicle from the parking lot of the apartment complex. She did not release information about the suspects or what they were wanted for prior to the pursuit. Police are not saying if the officer was hit on objective as they are still questioning all those involved. (more...)
Clinton aims high, Trump goes hard in closing push Clinton aims high, Trump goes hard in closing push
- November 07, 2016

Trump's Minnesota campaign confirmed the visit. In around a 40-minute address, Pence urged voters to "bring a friend" to the polls on Tuesday, called on Republicans who have not backed the Trump campaign to "come home", and pointed to growing momentum that the GOP ticket is showing. (more...)
Black Vote For Trump Is Double 2012 Black Vote For Trump Is Double 2012
- November 07, 2016

And the number of African-American voters is down significantly. First, for the first time since anyone can remember, Republicans have broken the communications monopoly Democrats have enjoyed among African-Americans. "I need everybody to understand that everything we've done is dependent on me being able to pass the baton to somebody who believes in the same things I believe in", he said, noting that Trump might even rip up Michelle Obama's vegetable gardens. (more...)
Remains found in East Texas believed to missing girl, 10 Remains found in East Texas believed to missing girl, 10
- November 07, 2016

Kayla was last seen at Bullard First Assembly Church near Tyler Tuesday around 8 p.m. Officials with the Federal Bureau of Investigation say leads are running low, but they have more interviews today. Family members say her mom was talking with people for a few minutes and when they turned around, Kayla wasn't there. A timeline of events is still being worked by investigators. (more...)
Sir Philip is '£100m short' of BHS pension deal Sir Philip is '£100m short' of BHS pension deal
- November 04, 2016

The warning notices issued to Sir Philip Green and Taveta Investments differ to those sent to Dominic Chappell and Retail Acquisitions. "Our decision to launch enforcement action is an important milestone in our work to attain redress for the thousands of members of BHS schemes who have been placed in this position through no fault of their own", she said last night. (more...)
Chinese Russian jumbo jet unveiled to compete with Boeing and Airbus Chinese Russian jumbo jet unveiled to compete with Boeing and Airbus
- November 03, 2016

Commercial Aircraft Corporation of China (COMAC) on Wednesday said it has set up a joint venture with Russia's United Aircraft Corporation (UAC) to develop a wide-body jet. It is part of a $13 billion aviation cooperation deal. To date, COMAC has received orders for a total of 570 C919s from 23 customers home and overseas. (more...)
China's manufacturing hits 2-year high as demand picks up
- November 03, 2016

The Nikkei ASEAN Manufacturing PMI recorded 49.2 in October, down from 50.5 in September, placing the headline index at the lowest in 11 months. This signalled a moderate improvement in the health of the sector that was the greatest since July 2014. (more...)
Tesla Motors surprises with 3rd-quarter profit
- November 01, 2016

The business went public in 2010 but hasn't been able to show a quarterly profit since early 2013. Musk said he thinks SolarCity would be neutral or "perhaps a cash contributor" in the fourth quarter if the merger were approved. Tesla delivered 24,821 vehicles during the quarter, an increase of 72 percent over the same period past year. Tim Higgins of the Wall Street Journal reports on CEO's plan for expansion . (more...)
In vote-by-mail Colorado, Trump renews talk of election fraud In vote-by-mail Colorado, Trump renews talk of election fraud
- November 01, 2016

But that's great", Trump said Sunday, appearing to hint at the possibility of voter fraud in Colorado, a rare prospect Trump has continued to hammer on the stump. He and wife Martha, a lifelong Democratic voter, cast ballots for Trump. "I don't really trust the whole mailing in your ballot thing", he said . The mail-in vote will be voided so that the Colorado voter can submit a single, reliable in-person vote for Donald J. (more...)
Oil edges up ahead of United States data, Opec squabbles cap gains Oil edges up ahead of United States data, Opec squabbles cap gains
- October 31, 2016

Iraq 's deputy oil minister Fayadh al-Nema said on Sunday that the country's oil production stood at 4.774 million bpd, with exports standing at 3.87 million bpd. crude-oil futures contracts that are held by producers and merchants in October rose to their highest level since 2007, according to the Commodity Futures Trading Commission. (more...)
Talks to curb oil output stall amid Opec disagreement Talks to curb oil output stall amid Opec disagreement
- October 31, 2016

Speaking on Saturday at the first meeting of the High-level Committee of the Algiers Accord (OPEC and non-OPEC Countries), Barkindo said such support is needed at critical times. Kristian Rouz - Disagreements between the OPEC members over the scale of output cuts, and the fragility of the preliminary production curb deal, have rendered other worldwide crude producers unenthusiastic over the proposed global decrease in oil supply. (more...)