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Business

General Motors of Canada Ltd, union 'miles apart' as labour negotiations begin

The union's National President Jerry Dias joins BNN to discuss why this week's auto talks with GM, Ford and Fiat Chrysler are a crucial event and what it will take for Unifor to come to an agreement with the Detroit Three. Both parties bring an incredible amount of knowledge, creativity and respect to the table, and are ready to overcome the challenges that face us. "But the relationship doesn't mean anything if we don't have a firm commitment from GM to invest in Canada".

Business

Singapore cuts 2016 forecast as world economy slows

The trade-dependent economy is expected to expand 1-2 per cent this year, the Ministry of Trade and Industry said on Thursday. Weak performance in Singapore's services is posing concern for the country's gross domestic product and subdued growth momentum underscores the challenging external environment that is now weighing on growth.

Business

IEA forecasts lower oil demand for next year

Global oil markets will continue to re-balance this year as a pick-up in demand from refiners absorbs record output from several Persian Gulf producers, the International Energy Agency predicted. The IAE put Saudi output at 10.6 million barrels a day, beating its previous record last summer. On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 1.3 per cent at $41.14 a barrel.

Business

Delta cancels 90 more flights; others predict more

Delta initially blamed the system-wide computer meltdown on a power outage in Atlanta, but the Georgia Power Co. has disputed that in media reports. "Our crews have been on site this morning and we continue to work closely with the team at Delta as they work to fix the affected equipment", Georgia Power said in the statement .

Business

Asian shares near 1-year high, dollar slips on soft US data

Australian shares missed the rally. MSCI's all-country world index.MIWD00000PUS covering 46 markets rose 0.5 percent on Tuesday to touch its highest level since late August 2015. "Central banks look increasingly accommodative and no one seems to be going against that trend. which supports all asset prices", said Anton Heese, head of European rates strategy at Morgan Stanley in London.

Business

RBI governor Raghuram Rajan says speeches never criticised govt

But his policy making decisions have been criticised by a prominent member of Prime Minister Narendra Modi's Hindu nationalist party and he has also clashed with the government. "We do not visualise GST coming in before 2017", he said. "Criticism of policy, I think is perfectly fine". Above-average rains in the annual June-September monsoon may provide some relief from surging food costs.

Business

Thyssenkrupp third-quarter profit falls 18 per cent

However, on a quarter-on-quarter basis, there were clear signs of recovery in the third quarter, leading to improvements in the key performance indicators of all the materials businesses. Adjusted EBIT at the company's European steel business slipped 45 percent to 91 million euros in the quarter. EBIT dropped 25 percent year-over-year to 372 million euros, and EBIT margin fell to 3.8 percent from 4.4 percent last year.

Business

Oil prices fall on United States crude inventory build, record Saudi output

And the oversupply of crude is clearing out even as OPEC producers pump at record or near record levels. After more than a year without setting fresh records, the United States benchmark S&P 500 stock index consistently has been reaching new peaks after breaking to an all-time high a month ago.

Business

Julian Assange to be questioned in Ecuadorian embassy

Ecuador's officials are hashing out the details with Swedish officials and as of Thursday morning, haven't set a date for an interview. Last year, Assange gave consent to be questioned by Swedish prosecutors at the Ecuadorian embassy in London.

Business

Fans injured at Snoop Dogg and Wiz Khalifa gig

The performance was reportedly halted as the rappers learned what happened , and the rest of the concert was later cancelled. No word has been given regarding what caused the collapse. The newspaper reported that the railing separated the pavilion's lawn from inside seating and collapsed when concertgoers leaned on it. Concert organizers said the show was about halfway through when the accident happened.

Business

5 things to know from Rio's opening ceremony

Afterwards, they issued a joint statement, expressing their happiness at the start and highlighting the importance of joint efforts by all security forces. "Our admiration is even greater because you managed this at a very hard time in Brazilian history". It showed they are going to host a great Games.

Business

McDonald's removes artificial preservatives from McNuggets

McDonald's is now testing healthier menu items in regional markets, like Latino-inspired breakfast bowls in Southern California, including an egg white scrambled with sauteed baby spinach and kale, as well as a scrambled egg with cheese and chicken chorizo, topped with hash browns.

Business

Aetna/Humana-DOJ antitrust trial date set for December

Judge John Bates, who will decide if the merger may go forward, said during a hearing on Wednesday that the companies had failed to define any harm in a later trial. Splitting the case increased the likelihood that the insurance giants will be able to complete their deals by the end of this year, as noted by Bloomberg last week.

Business

7 killed in 2 PKK attacks in Turkey

The bombings took place nearly simultaneously in Kiziltepe and Diyarbakir. Several homes in these districts had been identified prior to the raids and the 17 people were taken to an Istanbul police station on suspicion of "being members of the PKK terrorist organization, recruiting and holding an illegal protest".

Business

Pokemon GO has made $200 million in its first month

You first choose a direction and start walking till you reach a point where the listed Pokemon disappears from the tracker. You can check out a video of the new system posted by Adobe marketer Jackson Palmer . Are you annoyed by the fact that Pokemon are harder to catch as of Pokemon Go v0.31? How Does The Tracker Work? Sometimes Pokemon pop up even if they are not on the "sightings" readout.

Business

Pokemon GO has been updated and these are the latest changes

According to Tech Crunch , Niantic specifically notes that this system is just a test and it could change significantly before it will be released officially. Turns out that's not the case, as someone has figured out how the new tracker works. Sometimes Pokemon pop up even if they are not on the "sightings" readout.

Business

Paul Ryan Brushes Off Criticism of Trump's 2nd Amendment Comments

Ryan had out-raised the unknown Nehlen by a 17 to 1 ratio through the latest reporting period, and was largely ignoring his opponent and was expected to win easily. Sarah Palin and Ann Coulter, but it wasn't enough to best Ryan in the southeastern Wisconsin district he has held since 1998. In a statement posted on Twitter, Nehlen thanked his supporters for an "amazing journey".

Business

IEA: Oil Glut Is Gone, But Weak Demand Seen In 2017

Oil's recovery from 12-year lows reached in January faltered in early June as inventories of both crude and refined fuels remained bloated, demand growth weakened and USA oil explorers began to resume drilling. The renewed production freeze talks are very vital in an oversupplied environment to provide fundamental support to prices. "Russia has shrugged off lower prices, worldwide sanctions and financing difficulties to become non-OPEC's largest source of supply growth", the report reads.

Business

Investors Seeking Stocks: Rite Aid Corporation (NYSE:RAD)

Looking forward, analysts on average predict that earnings for the current quarter would come in between $0.01 and $0.04. 7 analysts have given their estimates against the projected EPS of RAD . STANDLEY JOHN T is one of the largest insider shareholders in Rite Aid Corporation (NYSE: RAD ), according to U.S. Securities and Exchange Commission (SEC) filings.

Business

Egypt, IMF sign initial deal for $12 billion, 3-year loan

It is not the first time Egypt has reached a staff-level agreement with the International Monetary Fund; both sides signed a similar accord in 2012 for $4.8 billion, but the talks were stalled due to the lack of consensus among political parties after several economists criticised the pre-conditions such as phasing out subsidies and implementing the Value-Added Tax.

Business

Oil Markets Seen Slowly Tightening After Months Of Oversupply: IEA

Production in Kuwait and the U.A.E. also set new highs in July, at 2.87 million daily barrels and 2.97 million respectively, the IEA reported. After riding on the OPEC meeting optimism on Monday, global oil benchmarks have been hit by inventory reports that showed big rise in the stocks.

Business

Rajan says attacks on him abominable; was open to extension

There were 41% returns from sovereign bonds (rupee sovereign debt) during the past three years that Rajan has been in the chair, and this figure is more than double of what they had earned in the previous three years, says a Bloomberg report on compiled indexes.

Business

Why airlines don't have to pay passengers after computer meltdowns

Delta previously said it expected fewer than 100 flights to be Wednesday, but that estimate ultimately proved too conservative. Almost 300 more Delta Air Lines flights were canceled on Wednesday as Delta tried to bring its systems back up to speed.

Business

Oil prices fall on U.S. crude inventory build, record Saudi output

On the New York Mercantile Exchange, West Texas Intermediate futures were trading down 1.3% at $41.14 a barrel. Oil prices fell sharply on Wednesday after data from the US Energy Information Administration showed crude inventories rose 1.1 million barrels in the week ended 5 August Analysts polled by Reuters had expected a 1 million barrel crude draw.

Business

Sri Lankan rupee up on bank dlr sales, c.bank spot rate

The rupee opened at 66.68 a dollar and touched a high of 66.67, a level last seen on 9 June. The local currency has ended 12 paise up at at 66.72 against the United States currency on selling of dollars by banks and exporters. Meanwhile, the RBI fixed the reference rate for the dollar at 66.9633 and euro at 74.1752. In cross-currency trades, the rupee recovered against the pound sterling to 86.78 from 87.22 on Wednesday and also recouped against the euro to 74.52 from 74.61.

Business

California lawmaker drops lawsuits in religious school bill

First, if a California university takes a Title IX exemption, it would have to publicly disclose to students, faculty, and staff its basis for doing so, including in marketing materials to prospective students and orientation programs for incoming students.

Business

US jobless claims fall as labor market firms

This marked the 75th consecutive week claims were below 300,000 - the longest streak since 1973. The Labor Department revised the prior week's reading to 267,000 from an initially reported 269,000. The combination of dollar strength and cheap oil will likely continue to dampen imported inflation pressures and keepoverall inflation below the Federal Reserve's 2 percent target.

Business

IEA: 'Massive' stock overhang is capping oil price

This would "help pave the way to a sustained tightening of the crude oil balance". Additionally, data showing Saudi Arabia pumped oil at record volumes in July added to worries about a global crude oversupply. Asian benchmark Singapore refinery margins fell to $2.94 per barrel on Wednesday, down over 70 per cent since January and its lowest level since August 2014.

Business

Clinton Responds to Trump's 2nd Amendment Comments: 'Words Matter'

Later Wednesday, Trump stirred up another fuss by calling President Barack Obama the "founder" of the Islamic State militant group - and Clinton its co-founder. The day Hillary Clinton selects Supreme Court justices? He has clearly roiled the party with his unorthodox remarks, with some Republicans frustrated at his apparent inability to stay on message.

Business

Oil Prices Fall as IEA Cuts Demand Forecast

Average price for Brent oil will be $41.6 per barrel in 2016 and $51.58 per barrel in 2017, according to the US Energy Information Administration's (EIA) forecasts in the Short-term Energy Outlook August 2016. Richard Perry, market analyst at Hantec Markets, said in an email that the IEA report has piled on more pressure on oil and some big support levels for the commodity are nearing.

Business

Phelps hails "special" rivalry with Lochte

If you missed it Tuesday, the lights were shining on Michael Phelps, who won gold in the 200m butterfly and shortly after he swam the final leg in the 4X200 free, which resulted in his 21st career gold medal . He cruised through his heat with the third-fastest time overall, 1 minute, 58.41 seconds, which trailed only American teammate Ryan Lochte (1:57.38) and Germany's Philip Heintz (1:57.59).

Business

Rio 2016 Olympic fencer's PHONE falls out of pocket during bout

The 24-year-old has tucked his phone in his back pocket during the all-important Olympics bout. The black device tumbled to the ground and the sequence was caught on camera. And judging by his victory celebration, as you can see in the photo, Joppich is probably fine with not knowing. He ended up losing to Joppich 15-13 - and no, the loss wasn't phone-related.

Business

European stocks rise on BoE boost, ahead of USA data

However, the bank rate cut was widely expected, but the quantitative easing was not so extensively expected and neither was the forward guidance of the likelihood of a further cut in the Bank Rate to close to zero during the course of the year.

Business

Oil settles below $40 for the first time since April

Worries about slowing economies in Asia - the driver of oil demand growth - and Europe have weighed, along with near record-high OPEC output and signs of a new price war by Saudi Arabia for crude. Crude supplies nationwide rose 1.41 million barrels, contrary to the estimate of a 1.75 million-barrel drop by analysts surveyed by Bloomberg ahead of the release.

Business

Trump Calls President Obama The 'Founder Of ISIS'

After Obama dismissed the notion as "ridiculous", Manafort defended the claim Friday, saying on Fox News that the president came from the "Chicago machine" and arguing that "if you're relying on the Justice Department to ensure the security of the elections, we have to be anxious".


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