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Business

Amazon planning brick-and-mortar grocery business

Amazon, Inc. will launch its own spin on convenience store shopping, the Wall Street Journal reports . The brick and mortar stores are joined by another speculative project Amazon may be developing for shoppers-grocery stores intended as a curbside, drive-in pick up location.

Business

TCS' Profit Beats Estimates In Second Quarter, Dollar Revenue Growth Disappoints

TCS had reported net profit of Rs. 6,317 crore on revenue of Rs. 29,305 crore in the June quarter. The dollar revenue grew 0.3 percent sequentially to $4.37 billion from $4.36 billion. Volume growth also disappointed, slowing to 1.3 percent compared to 3.4 percent in the previous quarter. India declined by 7.6 percent sequentially while Latin America also continued to show volatility, TCS said.

Business

Gordhan charge a bid to remove him - Ahmed Kathrada Foundation

His job security is being closely watched both at home and by worldwide investors, who see him as a fiscal bodyguard against state overspending. The NPA's decision to formally charge Gordhan was in the spotlight during a justice committee meeting in Parliament.

Business

South African finance minister refuses to quit in fraud scandal

The three had been summoned to appear in court on November 2. The organisation's director Mark Heywood says: "Reckless endangerment of the future of this country and it's reckless endangerment more importantly of millions of people who are vulnerable to deeper poverty, to job losses and to rising food prices".

Business

Bob Dylan joins this year's winners with Literature prize

Their findings on contract theory have implications for corporate governance, bankruptcy legislation and political constitutions, among other fields, said the Royal Swedish Academy of Sciences, which announced the 8 million Swedish crown ($928,000) prize.

Business

Wells Fargo CEO Steps Down in Wake of Fake Account Scandal

Sloan is a 29-year veteran at Wells Fargo and became COO last November. Stumpf's resignation may have an air of the inevitable today, but until recently it would have been unimaginable. Wells Fargo was "disappointed" that its appearances on Capitol Hill often "turned into a situation in which there were more speeches given than questions asked", Sloan said.

Business

OPEC Ups Forecast for World Oil Demand

Crude oil (WTI) was decreasing 1.4% to $50.08 per barrel and Brent crude was slumping 1.16% to $51.80 per barrel this afternoon. The Organization of the Petroleum Exporting Countries (OPEC ) said its production rose in September to the highest in at least eight years.

Business

Oil Drops Below $50 as Concerns Emerge Over OPEC Reduction Plan

Even so, OPEC's latest monthly report, issued on Wednesday, showed an increase in its oil production in September to the highest in at least eight years and a rise in the forecast for 2017 non-OPEC supply growth. "For sure, the fact that we could be getting draws again will take some of the attention away from what OPEC has been doing", said Kyle Cooper, a consultant at Houston-based ION Energy.

Business

STORE WARS: Tesco v Unilever ... which big brands are affected?

He added that "commodity cycles will come and go", but that it is the combination of commodity prices and currency that shape the cost landscape in an individual market. Brexit has hit some of the UK's most loved brands, including Marmite, PG Tips and Pot Noodles. One "used" jar of Marmite has appeared on eBay for £100,000.

Business

Improved compensation scheme for rail passengers In Herts And Beds

Though it's a great piece of news, prepare to stretch your wallet with train ticket evidence and spend a lot more of your time filling out forms. "One of the issues highlighted at the public meeting I organised with GTR executives in August was that the existing compensation scheme did not sufficiently serve Crawley commuters - I will continue to monitor progress in this area over the coming months".

Business

Early Retirement for Wells Fargo CEO Stumpf

Stumpf served as the bank's CEO since 2007. "He's 1 for 3". News of Stumpf's departure, however, did little to quell some lawmakers' anger over the affair or their demands for information from the company on how harmed customers and employees will be made whole.

Business

Macro-data, USA rate hike fears tumble equity markets (Second Lead)

Indexes in Asia's second-largest economy tracked losses in regional shares after weak China trade data rekindled global growth worries. " Asian stocks stumbled to three-week lows and US stock futures and Treasury yields fell after China's September trade data showed a sharp decline in exports, raising fresh concerns about the health of the world" second biggest economy.

Business

Trump lacks temperament to be United States president

But we're still endorsing him. "Send a message about who we are as the American people and make our kids proud". "If you've been only about obstruction, if, in order to score political points, you tell your voter base insane stuff, like I wasn't born here or that, you know, I'm a Muslim", Obama said, "over time what happens is that you produce a nominee who is all about obstruction and insults and makes up his own facts".

Business

Eschenbach Sells 894 Shares of Palo Alto Networks Inc. (PANW) Stock

While looking at the Stock's Performance, Palo Alto Networks, Inc . now shows a Weekly Performance of 0.41%, where Monthly Performance is 10.62%, Quarterly performance is 25.89%, 6 Months performance is 14.89% and yearly performance percentage is -7.06%.

Business

[EQUITIES] Samsung's Galaxy Note 7 recall costs surge to W2tr: Samsung Securities

The threat for Samsung is how soon they can get back. Samsung is struggling to regain consumer trust after a first round of recalls that prompted criticism both for the faulty devices and for the company's handling of the problem. The phone also came out in March, which might render it perilously close to middle-aged where cutting-edge types are concerned. Notable exceptions are the Note 7's iris scanner and pen.

Business

Shailene Woodley arrested during protest

Actress and activist Rosario Dawson praised fellow actress Shailene Woodley after she was arrested Monday during a protest in North Dakota that was live-streamed to fans on Facebook . They have specialized training and equipment, such as helmets and shields, for handling protests, Spoden said. As she was led away in handcuffs, Woodley said on the video she was among hundreds of protesters but was singled out "because I'm well known, because I have 40,000 people watching".

Business

Crystal Palace centre-back James Tomkins: Weird facing West Ham

The club's vice-chair, Karren Brady, said: "West Ham United Ladies have operated separately to the club for 25 years and today marks the next step in building the future of women's football at West Ham United". The Eagles welcome Slaven Bilic's misfiring West Ham to Selhurst Park in what will be the first time Tomkins takes on his former side. Bilic revealed that the decision for Tomkins to make a £10million switch to Selhurst Park was exclusively the player's.

Business

Operation resumed against holed-up militants in Kashmir

Security forces had resumed the operation on Tuesday morning with rockets and heavy automatic weapons being used against the ensconced militants. After the soldier was injured in the initial firing on the first day, the army chose to bring in special forces from the same unit that carried out surgical strikes in Pakistan on 29 September.

Business

Samsung sends fireproof packaging and gloves for Note 7 returns

Recalling the Note 7 could reduce Vietnam's exports by an estimated 0.5 percent to 1 percent this year, which will pose more challenges for the Southeast Asian nation to achieve its 10 percent exports growth target, Mai said. In the United States, Samsung began sending fireproof boxes and protective gloves to customers returning potentially explosive Note 7s, drawing humorous barbs from social media commentators.

Business

Sports Direct CFO Resigns Three Weeks After CEO Left Retailer

His departure follows that of chief executive Dave Forsey who left last month after months of criticism of the company's working practices from politicians, media and even its own shareholders. "I wish him all the best for the future and would like to thank him for his time at Sports Direct ". This triggered Sport's Direct's hedging arrangements, which were supposed to protect a business against volatile currency prices.

Business

Wal-Mart tempers earnings forecast for two years

USA shoppers spend 30 per cent of their time online at Amazon.com's website, compared with 3 per cent on Walmart.com. "It's good that they've set a reasonable bar, and I think there's some upside potential", Chen said . "It's time to invest more money". But it added it is planning on spending $11bn in 2018 as it seeks to get ahead in e-commerce. The company has said it expects Jet.com to accelerate its ecommerce growth.

Business

Congress Poking Holes in Wells Fargo Claims About Not Violating Securities Law

Many of those employees told federal regulators they felt extreme pressure to open as many accounts as possible. When questioned by lawmakers, Stumpf also gave some state-by-state breakdowns, including for Georgia, Delaware, Texas, Kentucky, Pennsylvania and Missouri.

Business

Buffett had one conversation with Wells Fargo's Stumpf since scandal

Its holdings with Wells Fargo is divided between $104 million in stock and the remainder in fixed income securities. The accounts have since been closed, though some customers were charged fees for such services as card membership. Stumpf also provided an update on key actions the company is taking to reinforce that its culture is wholly aligned with the interests of customers.

Business

Russia, US to Hold New Syria Talks Over Weekend

The scandal that erupted in the United States over allegations Russian Federation hacked Democratic Party emails has not been in Moscow's interests and both sides in the USA election campaign are just using Russian Federation to score points, Vladimir Putin says.

Business

Theresa May U-turns and agrees to Parliament Brexit debate Article 50

There are rising fears among businesses and pro-EU MPs that the government is prepared to head for a hard Brexit, where it leaves the single market and relies on World Trade Organization (WTO) rules to trade with the EU, meaning higher tariffs.

Business

OPEC oil output rises in September

Here's what OPEC did in September: 1) Agree to cut crude production. They reached a year-long peak on Monday, the second day of the congress, when Putin said Moscow could cut oil output in lockstep with OPEC . "The current price of oil has caused discomfort for all producers". Nigeria's output was up about 95,000 barrels as the western African nation brings back production after a series of attacks on oil infrastructure carried out by militants seeking a greater share of the country's ...

Business

Royal Caribbean Planning LNG Cruise Ships

Recently, analysts have updated the mean rating to 1.8. The Hedge Fund company now holds 153,372 shares of RCL which is valued at $11,479,894. If a company's profit is $800 million and there are 40 million shares, then the EPS is $20. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 55.01%. Several executives took part in recent insider activity for the stock. October 3 investment analysts at Citigroup maintained a company rating of "Buy" but lowered the price target to ...

Business

Wells Fargo CEO Resigns In Wake Of Scam Scandal

The San Francisco bank said John Stumpf will also relinquish his title as chairman. He oversaw the company's $15 billion acquisition of Wachovia in 2008 and as of June 30 had helped Wells Fargo become the second-largest US -chartered commercial bank in terms of consolidated assets, according to the Federal Reserve .

Business

Power company sending workers to help hurricane victims

The workers won't be heading to Florida because Hurricane Matthew isn't as strong as expected, according to a PG&E spokeswoman. In total, 130 PG&E employees are flying out early tomorrow and are expected to be there for at least a week. Mitch Cain, Director of Member Services at the cooperative, says in their business, there's an understanding that groups help each other when they're in need, even in a scary situation like hurricane relief.

Business

Gingrich defends Trump's record with Catholics

Podesta charged that the Trump campaign had advanced knowledge about the WikiLeaks release of damaging emails. John Podesta, campaign chairman for Hillary Clinton, aboard the the Clinton campaign plane while traveling to Raleigh Durham International Airport on September 27, 2016.

Business

US Fed closer to interest rate hike

The US dollar index, a measure of the greenback against a basket of currencies, edged up 0.3 per cent after minutes to the Federal Reserve's policy decision affirmed investors' expectations US interest rates will be raised in December. But the majority of Fed officials contended that inflation was still low and the unemployment rate had room to fall further without triggering high inflation.

Business

Wal-Mart to slow opening of new stores, increase digital investment

Getting China right is key to strengthening Wal-Mart's global online business. On Aug 19, 2016, Jefferies said it Maintains its rating on Wal-Mart Stores. The stock is a Buy among 10 brokerage firms polled by Factset Research. The stock was sold at an average price of $71.37, for a total transaction of $250,134,435.72.

Business

Clinton's Me-Too Tax Credit

The credit now phases out for higher income families, and the same would be true under Clinton's plan, although the campaign didn't specify the income level. By 2025, 93 percent of the new revenue that Clinton would raise would come from the richest 1 percent of Americans. The Policy Center says the top 1 percent of households, with annual incomes averaging $2.1 million, would pay over three-quarters of the $1.1 trillion extra federal revenue her proposal would raise over a decade.

Business

Fed saw no-hike decision in September as 'close call'

Many believed that the case for a rate hike had strengthened in recent months. The Fed hinted strongly at an imminent rate hike, though, issuing a chart showing that 14 of the committee's 17 participants believe the "appropriate target range" for the interest rate will be higher than 0.5 per cent before the end the year.

Business

Wells Fargo CEO Unexpectedly Steps Down

The board of directors elected President and COO Tim Sloan to succeed Stumpf as CEO of the bank. Wells Fargo lead director Stephen Sanger said: "John Stumpf has dedicated his professional life to banking, successfully leading Wells Fargo through the financial crisis and the largest merger in banking history, and helping to create one of the strongest and most well known financial services companies in the world".


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