Economy

USA crude oil imports lower, exports enhance final week

USA crude oil imports lower, exports enhance final week Oil prices edged up on Friday as turmoil in Venezuela increased the chances of tighter global supply if the USA makes good on signals that it could impose sanctions on Venezuelan exports. Venezuelan oil only accounts for 6% of United States oil imports, but an oil embargo could cause the USA to strain its domestic supply. The prospects of future oil demand are getting clouded by the global ... [Full Article...]

Government shutdown sparks flight delays at major USA airports

Government shutdown sparks flight delays at major USA airports By just before noon, the delays in Orlando were reported at 15 minutes or less. "I would do it all over again". "We are less safe today", she said . Rather than pinpointing specific risks, officials issued the more general warning that the lengthy shutdown is pushing an already strained system to its limits. [Full Article...]

Guaidó's father urges military to act in Venezuela's best interests

Guaidó's father urges military to act in Venezuela's best interests Venezuela President Nicolas Maduro looks on during a memorial tribute for former President of Cuba Fidel Castro at the Antonio Maceo Revoloution Square before his burial. Maduro's claims the United States has a $120-million fund for "buying" Venezuelan officers. The situation in Venezuela has the world's major powers quickly picking sides. [Full Article...]

French watchdog slaps Google with $57M fine under new European Union law

French watchdog slaps Google with $57M fine under new European Union law Google was handed the record fine from the CNIL regulator for failing to provide transparent and easily accessible information on its data consent policies, a statement said. "Following the introduction of GDPR, we have found that large corporations such as Google simply "interpret the law differently" and have often only superficially adapted their products". [Full Article...]

U.S. report says rapidly modernizing Chinese military has set sights on Taiwan

U.S. report says rapidly modernizing Chinese military has set sights on Taiwan The senior United States defense intelligence official, who spoke to reporters on condition of anonymity, did not predict that China's military, known as the People's Liberation Army (PLA), would take such a step but said such a possibility was the top worry as China expands and modernizes its military capabilities. [Full Article...]

May offers cross-party Brexit talks after surviving confidence vote

May offers cross-party Brexit talks after surviving confidence vote Labour leader Jeremy Corbyn called the no confidence vote after sounding off on May's "catastrophic defeat" on her Brexit deal Tuesday. The prime minister said the meetings she had held so far had been "constructive" and that she - along with other senior government representatives - would be meeting with other MPs in the coming days to get the "widest possible views across parliament" on ... [Full Article...]

Travelers fume in long lines at Miami airport in government shutdown

Travelers fume in long lines at Miami airport in government shutdown The airport didn't have enough Transportation Security Administration agents to staff the security checkpoint . The screeners are among the lowest-paid federal employees. The wait for worldwide flights out of the airport, however, was just 15 to 30 minutes, according to its website . Passengers with flights scheduled to depart from Terminal B are being directed to the ticket counters and T... [Full Article...]

US in criminal probe of China's Huawei

US in criminal probe of China's Huawei Canada had a year ago also publicly pushed back against political pressure from Washington to ban Huawei from its 5G network, as Australia and New Zealand had done, and was yet to announce a decision. Trudeau said Ottawa "will continue to engage strongly" with Beijing over Kovrig's status and what he called China's arbitrary use of justice. According to his lawyer, the Canadian will have ... [Full Article...]

Fast food for official White House visit due to shutdown

Fast food for official White House visit due to shutdown Tuesday brought another day of high theatrics, but low substance, as the shutdown dragged into its fourth week. Last week, Trump floated the ideal of declaring a national emergency, a strategy that could allow him to bypass Congress and direct the military to start construction of the wall. [Full Article...]

Rejecting my deal could lead to 'no Brexit', warns May

Rejecting my deal could lead to 'no Brexit', warns May As you said I think it's unlikely to succeed but we have got to see if a general election could resolve the issue. "It is not flawless but when the history books are written, people will look at the decision of this House tomorrow and ask "did we deliver on the country's vote to leave the EU, did we safeguard our economy, security or union or did we let the British people down". [Full Article...]

China's global trade surplus fell 16.2pct in 2018: customs

China's global trade surplus fell 16.2pct in 2018: customs It was the highest on record dating back to 2006, according to Reuters . But a deal for "a more lasting suspension of new tariffs" looks more likely. Exports fell due to softening global growth and as the drag from USA tariffs intensified, while imports also fell due to cooling domestic demand, said Julian Evans-Pritchard, senior China economist at Capital Economics. [Full Article...]

PG&E talking to banks on multibillion dollar bankruptcy financing

PG&E talking to banks on multibillion dollar bankruptcy financing The company, California's largest investor-owned utility, has 16 million customers across a 70,000-square-mile service area in Northern and Central California. The company said Sunday night that CEO Geisha Williams has stepped down . In November, the company warned it could face "significant liability" in excess of its insurance coverage it its equipment was found to have caused last year's b... [Full Article...]

We Will Devastate Turkey's Economy If They Attack Kurds

We Will Devastate Turkey's Economy If They Attack Kurds This came after Turkey vowed it "will not be intimidated" by Trump's threats of economic devastation if Ankara attacked Kurdish forces as United States troops withdraw from Syria . "It is an awesome statement and one that we can't really imagine having heard from any other president of the United States, particularly put in those terms". [Full Article...]

Miami airport terminal closing early as screeners call in sick

Miami airport terminal closing early as screeners call in sick About 800,000 federal workers, who have been forced to go on unpaid leave or work without pay since December 22 when the shutdown started, will have to miss a paycheck on Friday, which was supposed to be payday. "If the staffing shortage gets worse, we will see reduced capacity in the National Airspace System, meaning more flight delays", Rinaldi said. "They're erring on the side of caution". [Full Article...]

USA official warns of recession risk if interest rates go much higher

USA official warns of recession risk if interest rates go much higher He said an "extended" shutdown would show up in economic data "pretty quickly" and, since it shutters some agencies that provide economic data, it would also make the picture of the economy less clear for the Fed. The monthly reductions, effectively running on autopilot, have been criticized by some as a steady tightening of financial conditions the Fed should reconsider. [Full Article...]

Sweden Has a 70% Tax Rate and It's Just Fine

Sweden Has a 70% Tax Rate and It's Just Fine Ocasio-Cortez said she's proud to be labeled a "radical" and responded "yeah, no question" when asked whether President Trump is a racist. "Newly unearthed video reveals that when @AOC was in college, she was ... When asked flatly if she believes Trump is racist, Ocasio-Cortez said, "Yeah, yeah. When you look at how he reacted to the Charlottesville incident, where neo-Nazis murdered a wo... [Full Article...]

China officials to begin trade war talks in Beijing

China officials to begin trade war talks in Beijing Trump temporarily suspended the planned increase in tariffs from 10 per cent to 25 per cent on Chinese goods worth $200 billion, although warning that he would go ahead with the plan if a trade agreement was not sealed before the 90-day deadline. [Full Article...]

Dow Falls 500 Points after Tim Cook Slashes Apple Revenue Forecast

Dow Falls 500 Points after Tim Cook Slashes Apple Revenue Forecast Apple has become the target of nationalist sentiment over the arrest of Huawei's chief financial officer in Canada at the behest of the U.S. for alleged Iran sanctions violations. Companies such as General Motors, Caterpillar and Daimler have all said recently that trade tensions and slower growth in China are damaging their businesses. [Full Article...]

McDonald's customer attacks employee over plastic straws

McDonald's customer attacks employee over plastic straws Customers must now ask for them, which didn't sit well with Taylor. The man reached across the counter, toppling a completed order with fries, and grabbed the collar of a female employee's shirt. "My mom and sis Kinie Biandudi recorded this today..." When police arrived, she talked to officers and gave them the video of the incident. The ugly incident was caught on video. [Full Article...]

Tesla shares go into reverse on missed deliveries and price cuts

Tesla shares go into reverse on missed deliveries and price cuts Tesla buyers no longer qualify for the full $7500 federal tax credit as of January 1. Tesla also produced a total of 25,161 Model S and X, which is consistent with its long-term run rate of around 100,000 units per year. In its previous results statement, the company promised to focus on increasing its production rate. "The price cut is what's driving the stock lower, as it openly acknowledges ... [Full Article...]


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