Business
International Monetary Fund expects SA economy to grow less than 1% in 2017
Once considered a key driver of global growth, developing nations have been battered since the financial crisis, as crucial custom from sputtering Western economies has dried up, while governments struggle with huge debts. In a new report , the International Monetary Fund warned that easy money policies of the world's top banks had stoked a private-sector credit binge in China, as well as rising public debt in some low-income countries.
Business
Fed may change stress tests, capital buffers for US banks: Yellen
But since then, officials have left the rate unchanged. "We will likely be in a low interest rate environment for some time", Evans said. Fed Chair Janet Yellen herself signaled that a hike could come by the end of the year, but said for now the economy still has "a little more room to run".
Business
2016 focus shifts to Clinton-Trump rematch
Trump stuck to an hour-long speech in the teleprompter and tried to put Clinton on the defensive. "We can't take any of this seriously anymore", Clinton insisted to the "largely female crowd", according to the Times . So phenomenal, in fact, that Trump said it was "the single most decisive victory in the history of VP debates". Trump is still recovering from a disastrous two weeks of the campaign.
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Sean Hannity Lashes Out at Megyn Kelly: 'Clearly You Support' Hillary Clinton
Trump has appeared in a number of one-on-one primetime interviews with the Fox News host and even cited Hannity as a character witness in the first presidential debate. Kelly has always been a favorite target for Trump's vitriol against women and the media. A budding civil war between two of Fox News Channel's leading personalities went public Wednesday night.
Business
Google Announces New Devices
Pixel will be available with a five- or 5.5-inch display , starting at $649 for US customers, similar to the latest iPhone models. Google's new virtual-reality headset, Daydream View, will differ from other headsets like Samsung's Gear VR in having a companion motion controller and compatibility with a wide range of phones, including Pixel.
Business
FTSE 100 soars as Sterling hits a new 31-year low
After a new slump in the pound, the Prime Minister has moved to allay industry fears of a clean break from European trading arrangements. In general, the fall in the pound has boosted the FTSE 100 as numerous companies in the index generate most of their revenues overseas.
Business
IMF forecasts world economy to grow at 3.1% in 2016
But it lowered its 2017 forecast by 0.2 percentage points to 1.1 per cent on anticipation that uncertainty over separation from Europe will take a bigger toll on investment in the country. It forecast expansion of just 1.6% this year - slower than that of the UK's - compared to its July estimate of 2.2%. The Nigerian economy contracted in the first half of the year and inflation accelerated to the highest rate in more than a decade as a 15-month currency peg, that was removed in June, ...
Business
'I'm Getting a Lot of Credit' for Choosing Pence
The Republican nominee called Pence's performance "incredible" and assessed Pence as "phenomenal", "cool", and "smart". The immediate media response to the debate was to grant Mike Pence the victory, largely on style points. One operating theory in July held that former campaign chairman Paul Manafort had cornered Trump into selecting Pence, the "safe choice", when Trump had really wanted to pick someone comical, like Chris Christie or Newt Gingrich.
Business
Deutsche Bank eyes settlement of $4-5 bln -Platow Brief
Financials were also helped by the ebbing fears about the health of Deutsche Bank, whose Frankfurt-listed stock DBKGn.DE closed up 1.5 percent after major clients and rivals extended support to the bank, which is negotiating with USA authorities over a multi-billion dollar penalty.
Business
FARC: Truce to Continue Despite Vote
He may offer a form of amnesty to the rank-and-file troops of FARC's nearly 5,800 fighters, but he will almost certainly insist on a peace deal with far tougher terms for FARC commanders, who have maintained they are not willing to go to prison.
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Colombian President tries to revive FARC peace deal after referendum
Rather, Uribe has been trying to score political points over his rival Santos, and is now promising to step forward and help make " corrections " to the peace deal which would ensure it was more palatable and able to survive a referendum. A few dozen students marched outside congress Monday to cheer on Santos' campaign to save the peace deal. "We're saddened by the slim victory for "No", said Ecuador's foreign minister, Guillaume Long amid a chorus around Latin America.
Business
Goldman Sachs: OPEC freeze could add $10 to oil prices
Many traders said they were impressed OPEC had managed to reach a compromise after years of wrangling but others said they wanted to see the details. The OPEC deal includes Saudi Arabia, the world's biggest oil producer that had previously refused to cut back. It's also possible that the 14-member OPEC can agree to the deal now in principle but ignore it completely in action, once the details are revealed at the next official meeting in November.
Business
Afghan forces push Taliban out of Kunduz center, officials say
Fifteen years after the USA invasion that ousted Taliban rulers harbouring militants behind the attacks on NY and Washington, Afghanistan remains reliant on global aid and faces resurgent militants that threaten its progress. The Nato-led Resolute Support mission said Afghan security forces were in control of the city and its main square "with additional troops coming". Government representatives are meeting global donors in Brussels this week to try to secure billions of dollars in ...
Business
LATAM Airlines Group S.A. (NYSE:LFL) Updated Broker Price Targets
Janus Capital Management Lc has invested 0.08% of its portfolio in American Airlines Group Inc (NASDAQ:AAL). 07/20/2016 - LATAM Airlines Group S.A. was upgraded to "buy" by analysts at Deutsche Bank. 07/14/2016 - American Airlines Group, Inc. had its "underperform" rating reiterated by analysts at Bank of America Merrill Lynch. They expect $1.53 EPS, down 44.77% or $1.24 from last year's $2.77 per share.
Business
Lenovo to take over Fujitsu's PC business
Lenovo declined to comment. Fujitsu had initially been in talks with Toshiba and Sony spin-off Vaio for a merger of all three companies' computer businesses but the negotiations failed to reach an agreement. The Japanese electronics maker is expected to spin off its PC business and Lenovo is likely to invest in it, the source said. Asustek computers Inc had a 7.2 percent share while Apple Inc held 7.1 percent.
Business
Services sector slows in September
And overall new orders for United Kingdom construction firms rose in September, following a four-month run of decline. South African firms have borne the brunt of sluggish economic growth since a 2009 recession, with GDP expansion seen little above zero percent this year..
Business
Russia Services Sector Growth Slows in September -- PMI Survey
South African firms have borne the brunt of sluggish economic growth since a 2009 recession, with GDP expansion seen little above zero percent this year.. Construction companies also pointed to a renewed rise in civil engineering activity, with the pace of expansion the fastest since March, though commercial activity decreased for the fourth month running, which is the longest period of sustained decline since early-2013.
Business
Futuristic plan for NY includes LED bridge lighting in colour
Starting in January, the MTA will begin rolling out a new toll-taking system that uses cameras and sensors at all bridges and tunnels leading in and out of Manhattan. A video featured at the announcement showed the luminescent bridges displaying red, white and blue during Independence Day, rainbow colors to honor Gay Pride, and blue and orange to commemorate a Mets World Series win.
Business
589 million people on holiday at the same time? Only in China
Tourist visits and spending reached their peaks on Monday, with about 108 million people making trips and spending about 88 billion yuan. Almost half of China is expected to travel during Golden Week , the week-long national holiday that starts tomorrow, including more than 5m people who will make an overseas trip, with retailers in popular destinations anticipating a boom in sales.
Business
BHP Billiton Plc (NYSE:BBL) Analyst Review
Steve Pastor, petroleum operations president, on Wednesday said BHP plans to be "patient and prudent" in growing the business, but forecast oil investments to account for a greater share of its cash flow and said the unit, weighed in recent times by struggling US shale fields, is likely to be the miner's highest-margin division for years to come, outpacing commodities such as iron ore.
Business
Ayotte 'role model' comment about Trump in debate sets off internet firestorm
Ayotte is now running for re-election against Governor Maggie Hassan and the freshman senator has always been considered " vulnerable ". Ayotte has crafted a curious position of supporting Trump but not endorsing him, that she'll "stand up" to him, but still render her vote to him come November.
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Mike Pence taking heat for 'that Mexican thing' comment during VP debate
Kaine also revived Trump's displays of ignorance about worldwide affairs and his quotes about nuclear weapons and Russian President Vladimir Putin to press the case that Trump is dangerously unhinged and unfit for the presidency. "I was surprised he wasn't more prepared for the format", Conway said. Kaine piped up that Clinton had apologized for that comment, but the IN governor argued that that didn't count because she was only apologizing for saying "half".
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Alex Oxlade-Chamberlain acknowledges importance of victory at Burnley - Eurosport.com AU
In the second minute of injury time, Theo Walcott flicked a cross to the back post and Alex Oxlade-Chamberlain's strike struck his captain's hand, trickling over the line. It was a game we couldn't afford to lose and not to turn up on the day, you wonder 'what did I do wrong there? "We took it by the scruff of the neck and I think we played some really good stuff today, like I say we defended unbelievably well and if we keep playing like that we will pick up a lot of points".
Business
Galaxy Note 7 replacement phone reportedly catches fire on plane
The smoke prompted Southwest Airlines to evacuate the plane before it departed for Baltimore, Louisville Metro Arson Capt. Kevin Fletcher told news outlets. Samsung recalled Galaxy Note 7 smartphones because a battery flaw can lead to overheating, posing a burn hazard to consumers. Those phones have a green battery icon.
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Louisville flight evacuated after found smoke on plane; Samsung phone believed responsible
All passengers and crew exited the plane without incident, Natalie Chaudoin said . In a press release, T-Mobile said customers can bring their faulty Galaxy Note 7 to T-Mobile and exchange it for a Consumer Product Safety Commission-approved Galaxy Note 7 or, if none are available, get a temporary device until it becomes available again.
Business
Mobile to recommence Galaxy Note 7 sales October 5
Southwest confirmed to TechRadar a smoking Samsung device led to the airplane evacuation, but did not state what model Samsung phone it was. After then being dropped on the floor, the device is said to have burned through the plane's carpet and scorched the subfloor.
Business
IMF says global debt tops $152 trillion, urges some to spend more
It also warned that slow economic growth is making it hard for companies and countries to cut their debt burdens - a process which can also drag on growth momentum, as deleveraging companies slow spending and investment. "It constitutes one of the most important headwinds to growth in the global economy", says Vitor Gaspar , the IMF's director of its Fiscal Affairs Department.
Business
Asian stocks, gold slide, bonds yields climb on stimulus end prospects
Richmond Federal Reserve President Jeffrey Lacker said he would have dissented at the last rate-setting meeting if he had been able to vote, arguing that interest rates need to rise. The financials sector rose 0.08 percent, led by gains in Citigroup, Bank of America and JPMorgan. The dollar fell 0.2 percent against a basket of currencies.
Business
Asian stocks lower on Fed rate hike expectations
The dollar rose for a seventh day against the yen. Brent crude, the worldwide standard, advanced United States dollars 1.00 to USD 51.87 a barrel in London. US Treasuries dropped, pushing yields on the 10-year note two basis points higher to 1.62 percent. The Ibovespa climbed as oil company Petroleo Brasileiro SA jumped to an nearly two-year high.
Business
Paisley Park given 3-day temporary permit amid zoning snag
The city council voted Monday night to delay rezoning of the property into a museum, citing potential traffic issues. No new tickets are available, and guests who pre-ordered tickets for other days can receive a refund or possibly be accommodated for one of the three scheduled dates.
Business
Shareholder Union Investment says Deutsche Bank not "in crisis"
Questions over the health of Germany's largest lender loomed large over the start of the International Monetary Fund and World Bank annual meetings in Washington, dominating a news conference on risks to global financial stability. "Inefficiencies can no longer be tolerated", he said. Bankhaus Lampe set a €23.00 ($25.56) price objective on shares of Deutsche Bank AG and gave the company a buy rating in a research report on Monday, July 25th.
Business
Chicago suspends Wells Fargo from city business for a year
Frerichs said the Office of the Treasurer is also opening an audit of the bank to see if it complied with IL law on returning unclaimed property to consumers. shame on them, just shame on them". A stock photograph showing the exterior of a Wells Fargo bank building in New York, New York. The Labor Department has launched a review of how the bank treated its employees, and the Observer has reported that federal prosecutors in Charlotte and San Francisco are heading up an investigation ...
Business
After Testy VP Debate, Trump Rebuffs Claim He 'Loves' Putin
Trump offered effusive praise for his running mate but also claimed credit for Pence's strong performance even as both campaigns acknowledged that the sole vice presidential debate was unlikely to alter the race's trajectory. Some of the Donald Trump and Hillary Clinton's comments and the "insult-driven campaign" was also a topic of discussion. Clinton spokesman Nick Merrill, asked whey the two didn't connect sooner on what was most likely Kaine's most consequential night of the campaign, ...
Business
This isn't the first time Google has launched an expensive phone
One of the advantages Google phones have long had is their quick access to Android updates. With other phones, individual manufacturers and carriers have to approve changes, resulting in delays. "A premium Android strategy is really a strategy to take market share from Samsung", said analyst Jan Dawson of Jackdaw Research. The new Google Wi-Fi system will cost about $130 for the main device.
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Gov. Haley pushes potential evacuation for Horry, Georgetown counties to Thursday morning
Surrounded by officials with the state Emergency Management Division, Haley said she declared a state of emergency at 7:30 a.m. due to the state needing to move 1.1 million people off the coast and 100 miles inland. Those areas include Berkeley, Colleton, Dorchester and Jasper counties. "We are preparing for the worst, we are hoping for the best and we're not taking any chances", he said.