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UK retail sales show strongest rise since 2002

Retail sales in the United Kingdom have increased at the strongest annual rate since 2002 as consumers splurge on Halloween costumes as well as warm clothing due to cooler weather in October this year. "It could also be consumers bringing forward spending to today, in anticipation of higher prices tomorrow". Average prices in stores has fallen once again by 0.7 per cent, although this is the smallest decrease since July 2014, showing the upward pressure on inflation coming mostly from ...

Business

Volkswagen to cut 30000 jobs

In total, VW will spend about 3 billion euros at these German plants while another 700 million will be spent overseas. The company, which is still dealing with the aftermath of the emissions-cheating scandal, is aiming to rejuvenate its core brand, and develop new electric and self-driving cars.

Business

Mamata, Kejriwal attack PM, give 3 days to withdraw decision

BJP and its ally parties are praising the government, but the anger of opposition is rising day-by-day against the government for taking a sudden decision. "Initially ATM meant "All time Money" now it is "Aayega tab milega", she said. "People are dying here and they say it is a surgical strike on black money", she said.

Business

Protesters At UM Rally Against Dakota Access Pipeline

Members of the community gathered at Park Place mall Tuesday night to show their solidarity during a National Day of Action in an attempt to halt the proposed Dakota Access Pipeline. Tupac Enrique Acosta added, "I do think public actions have put pressure on the U.S. Corps of Engineers so they would have the statement stating the Dakota Access Pipeline can not go forward on the site".

Business

Ohio Congressman Ryan Ready To Challenge Pelosi

Mind you, this is a different discussion than who will head the Democratic National Committee, where it appears to be a battle between Minnesota Rep. Keith Ellison and South Carolina Democratic Party chair Jamie Harrison . In the letter , Ryan noted that over the past 18 years, Democrats have only been in the majority in the House for two terms, and "last week's election results set us back even further", he said.

Business

Fate of controversial United States oil pipeline heads back to court

Kennedy Jr. was slated to visit the camp later Tuesday. On Monday, the Army Corps of Engineers halted further construction on and around the lake, because it "has not made a final decision on whether to grant an easement", according to its statement .

Business

Cows stranded by New Zealand quake are rescued

A landslide blocks a highway and the main railway line north of Kaikoura, New Zealand, on Monday. The defense force said it had started ferrying people out by military helicopter and that a navy ship from Auckland was due to arrive in the area Wednesday morning.

Business

Tesla Software Update Will Enable a 2.4-Second Zero-to-60 Time

EPS growth in next year is estimated to reach 83.70% while EPS growth estimate for this year is set at -193.60%. The Company holds 153.70 million shares outstanding. A Director in the company, Musk Kimbal, on Monday June 13, 2016 collected $103,210 from the sale of 460 shares at a per-share price of $197.6. The company now has a consensus rating of "Hold" and a consensus target price of $249.12.

Business

House votes to extend Iran sanctions

The P5+1 (China, France, Russia, the United Kingdom, the U.S. as well as Germany) reached a historic deal with Iran previous year to curb the Islamic Republic's nuclear program in return of lifting the nuclear related sanctions . Some U.S. sanctions remain in place against Iran because of its support for militant groups and over its ballistic missile program. There is no question the United States can withdraw from the deal.

Business

People Mob Banks to Deposit and Exchange Spiked Currency

The BBC visited many ATMs of big banks in Delhi and Mumbai but found them either shut or not dispensing cash. Once deposited, they can withdraw Rs 20,000 over two days. It was also announced that banks and ATMs will be closed for public transactions on Wednesday and Thursday and will reopen only on Friday with new currency notes and smaller denomination notes.

Business

Janet Yellen to complete term despite Donald Trump's criticism

Yellen told Congress Thursday that tightening monetary policy could be "appropriate relatively soon". Responding to questions about Trump's pledge to implement spending and tax cuts to stimulate the economy, she said the new administration and Congress should weigh the costs and benefits, and focus on policies that increase U.S.

Business

Dollar soars on US yield gains, Asian shares wobbly

In Hong Kong, a bounce in the market was eclipsed by worries a USA rate hike next month and a strengthening dollar could divert money away from emerging markets, putting it on course for its fourth weekly loss. As investors tried to adjust to the new environment, the 10-year U.S. Treasuries yield rose to 2.339 percent, its highest since December, compared to around 1.86 percent before the U.S.

Business

President Obama Reassures Europeans of American Stability

The flag-burning protests are a reaction to Obama suggesting that the U.S may let Greece off with some of their debt due to the situation with Greece's spiralling economy. He says North Atlantic Treaty Organisation is as ready as it has ever been to ensure collective security. Despite facing extraordinary economic hardships, Greece is one of five North Atlantic Treaty Organisation allies that spend 2 percent of GDP on defense.

Business

Oil prices fall on U.S. crude stock build, Opec remains in focus

To speed up a rebalancing of the market, Opec agreed at a meeting in Algeria on September 28 to cut supply to between 32.50 million bpd and 33 million bpd . Brent futures fell 2 cents to $46.93 a barrel by 12:52pm EST. Brent crude, the global oil benchmark, rose 0.5% to $46.85 a barrel on London's ICE Futures exchange.

Business

New Zealand quake: 700 tourists and residents rescued from Kaikoura

US Secretary of State John Kerry said on a visit to New Zealand on Sunday that its presence was a historic moment marking "the normalisation of our security cooperation". The leaders also discussed the New Zealand economy, trade, and the relationship between the two nations, which they agreed was in great shape. The USS Sampson , a US warship, diverted in a small coastal town in New Zealand on Wednesday to help in the evacuation of tourists and local residents from the 7.5 magnitude quake.

Business

4 things to know about United's new cheaper fares

But as good as that sounds, those tickets will come with strict rules that might not make it appealing for some passengers. Starting in January, United customers will be able to purchase bare bones flights called Basic Economy , that are stripped of numerous amenities that are table-stakes for most carriers including the right to choose a seat and the use of the overhead bin to store luggage.

Business

Oil turns lower on OPEC cut concern

Crude oil futures dropped on Thursday after official inventory reports indicated a larger-than-expected build in USA oil stocks. But what really got investors excited were reports that Russian Federation could hold informal talks with OPEC officials in Doha later this week, potentially strengthening any actual output cap deal by bringing in another large oil producer.

Business

Fed Chair Yellen says to serve out full term despite Trump's criticism

U.S. Federal Reserve Board chair Janet Yellen testifies before a Congressional Joint Economic hearing on Capitol Hill in Washington , DC, U.S. November 17, 2016. She suggested the danger of that happening soon was low because current policy is only "moderately accommodative". For the time being, Yellen said, incoming economic data justified a rate hike "relatively soon" and, absent any dramatic changes, a gradual pace of hikes after that.

Business

Host Hotels & Resorts Inc. (HST) Given Equal Weight Rating at Morgan Stanley

Other equities research analysts have also recently issued reports about the company. Over the last 3 months and over the last 6 months, the shares of Host Hotels & Resorts, Inc. (NYSE: HST ) for the current quarter is -5.1 percent. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion.

Business

US stocks end higher after Yellen hints at December rate hike

At 1500 GMT, Fed Chair Janet Yellen is scheduled to speak before a congressional committee. "Markets are more interested in Yellen's view on the economic effects of Trump's proposed fiscal policies", said Hussein Sayed, chief market strategist at FXTM.

Business

Demonetisation effect: ATMs grapple with cash shortage

The new feature will showcase ATMs with cash with a short queue are denoted by a green pin, ATMs with cash with a long queue are denoted by an orange pin, ATMs with no cash/unknown activity status are denoted by a grey pin. "Only around 30 per cent of the 1,400 ATMs [not counting those operated by cooperative banks] in the district dispensed money on Thursday, as there was acute shortage of currency notes of Rs.50 and Rs.100 denominations".

Business

Wall Street set to open flat ahead of Yellen's testimony

The Nasdaq Composite index was up 5.54 points, or 0.1 per cent, at 5,300.12. The underlying gauge rose 0.8 percent yesterday, pushing its advance since November 8 to 1.9 percent and closing within 0.5 percent of an all-time high set in August.

Business

Research Report for: Vodafone Group Plc (NASDAQ:VOD)

The Company now has ROA (Return on Assets) of 1 percent, Return on Equity (ROE) of 8.4 Percent and Return on Investment (ROI) of 9% with Gross margin of 0 percent and Operating & Profit margin of 81.1% and 30.9% respectively. RSA Insurance Group plc is an worldwide general insurer. The stock is now trading up its SMA 50 of $0.00. The company has market value of $927.28M.

Business

ICICI, HDFC Bank cut fixed deposit rates by 0

That banks are flooded with liquidity is underscored by the fact that they parked ₹68,591 crore with the RBI in the three reverse repo auctions (both fixed rate and variable rate) that it conducted today. One-month tenure will attract a rate of 8.70 per cent while those for three and six months will be 8.90 and nine per cent, respectively. On Wednesday, the country's largest lender SBI slashed fixed deposit rates on select maturities by up to 0.15 per cent.

Business

Rising gas prices pushed consumer prices higher in October

The Fed raised rates almost a year ago for the first time since 2006 and was widely expected to follow up with several more hikes in 2016. With energy costs grinding higher, price pressures will have room to gain traction more broadly in the economy, while companies may begin to gain greater pricing power amid steady consumer demand.

Business

Doping-Ten more Beijing medallists disqualified after re-testing

Like Devetzi, the use of stanozolol was behind the sanctions for Asset Mambetov, Maya Maneza, Irina Nekrassova and Vladimir Sedov, while their Kazakh compatriot Mariya Grabovetskaya was found to have taken dehydrochlormethyltestosterone (turinabol), oxandrolone and stanozolol.

Business

First US Warship Changes Route to Help Earthquake Evacuation in New Zealand

Workers cleared an emergency inland road into Kaikoura, allowing water and other supplies to be trucked in for the first time.Two people were killed and dozens injured by the magnitude 7.8 quake - two almost simultaneous tremors that ruptured faultlines across the top of the ruggedly handsome South Island.The timing of the quake - shortly after midnight on Sunday - combined with the epicenter being in a sparsely populated region prevented a higher toll, authorities said.

Business

Merkel to Run for Fourth Term as German Chancellor - Ruling Party Member

Only three per cent thought relations would improve, while 60 per cent said that the number of global conflicts was likely to rise under President Trump. "The phrase "leader of the free world" is usually applied to the president of the United States, and rarely without irony", Timothy Garton Ash, a historian and professor of European studies at Oxford University, wrote Friday in Britain's left-leaning Guardian newspaper.

Business

Trump team said it could have done better on press access

Reporters were also left wondering about Mr. Trump's whereabouts after his meeting last week at the White House with Mr. Obama. Trump's team was essentially starting its transition planning from scratch after scrapping much of the preliminary work New Jersey Gov.

Business

Walnut unveils app to find ATMs with cash, shorter queues

After demonetization of Rs. 500 and Rs. 1,000 notes by Government of India, people are lined up outside banks, ATMs, and post offices across India to withdraw and exchange the money. Clicking this takes you to Google Maps with your location already entered. Regarding the current situation, chances are you want to know where an ATM is.

Business

Mexico stunned by Trump's election

Some analysts predict a drop in trade if Trump follows through with protectionist measures, and even possibly a recession in Canada, whose exports to the United States account for 20 percent of its GDP. The dollar has strengthened about 19 percent against the peso this year, even more than a almost 17 percent gain for all of 2015. But Finance Minister Jose Antonio Meade said there was no need for "premature actions" as Mexico has inflation under control, holds global reserves total $175.1 ...

Business

Japan's leader Abe heads to NY to meet Trump

With no plans on wasting time , the president-elect made arrangements to meet in NY with Japan's Prime Minister Shinzo Abe. For a more in-depth analysis of what this would mean for Asia, and how Mr Trump's "America first" movement could alienate the region, read Consequences of TPP demise go beyond trade , by ST's USA bureau chief Jeremy Au Yong, and A message from Asia-Pacific to President-elect Trump, by the former editor-in-chief of Japanese daily Asahi Shimbun, Mr Yoichi Funabashi.

Business

India's currency swap sets off endless lines of frustration

Now that 86 percent of India's currency is no longer valid, the central bank has struggled to print replacement denominations - and the new notes are the wrong size for existing ATMs. And cash-on-delivery transactions, which are costly and timely for electronic commerce retailers, should drop at least temporarily. So, Modi is more in bringing the black money into the economy than to kill and convert those cash into trash.

Business

Ukip leader Nigel Farage wants to be Trump ambassador to Brussels

The meeting has fuelled speculation that Farage could be given an ambassadorial role in Trump's cabinet, which could make him the most powerful politician in the UK. Nigel Farage says he is the only British politician who has offered support to Mr Trump. Downing Street moved to try and play down the significance of the Ukip leader's meeting with Mr Trump.

Business

U.S. president-elect Donald Trump suggests he would be open to amending Obamacare

President Barack Obama meets with President-elect Donald Trump in the Oval Office of the White House in Washington, Nov. 10, 2016. Donald Trump said he told the president he would look at his suggestions, and, out of respect, he would do that.


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