Finance


Dozens killed in airstrikes after ceasefire plan in Syria Dozens killed in airstrikes after ceasefire plan in Syria
- September 12, 2016

Under the agreement, Moscow will pressure the Syrian government to end its military campaign against US-backed rebels. In other words, every sane statesman should have realized by now that Russian Federation and the Assad regime are no trustful partners for any sort of negotiations, not interested in peace and only use "cessations of hostilities" to fulfill their strategic goals by a mix of diplomatic and military means. (more...)
Nicola Sturgeon tells of sorrow over miscarriage
- September 12, 2016

Opposition parties in Scotland were infuriated by Ms Sturgeon's pledge - hours after the Brexit vote - that she would begin preparing legislation for a second referendum. With improving education the "defining mission" of her government, Ms Sturgeon said an Education Bill would be brought in to make the necessary legislative changes. (more...)
Talgo train completes Delhi-Mumbai trial in less than 12 hrs Talgo train completes Delhi-Mumbai trial in less than 12 hrs
- September 12, 2016

The 1,384-km distance between the metropolitans takes usually 17 hours but the Talgo train could reduce it to just 12 hours. The Rajdhani Express, which is the fastest train on the route now, covers the same distance in 15 hour and 50 minutes while travelling at 130 kmph. (more...)
Canada implies won't demand regulator alter TransCanada pipeline panel Canada implies won't demand regulator alter TransCanada pipeline panel
- September 11, 2016

The National Energy Board (NEB) issued a statement late Friday afternoon saying Energy East hearings would pause until a new panel is selected. "They are doing so because they understand that their participation in these meetings may have created an apprehension of bias which could undermine the integrity and the credibility of the board's decision-making process", said the release. (more...)
Plan to Ease Cargo Crisis at Ports Due to Hanjin Bankruptcy
- September 11, 2016

Samsung said an order this week by a U.S. bankruptcy judge did not encourage the Hanjin ships to enter United States ports as intended, which the company blamed on a misunderstanding of maritime law, the bankruptcy code and Korean law. Further adding to this pickle is the fact that the Korean government is assuring ports that Hanjin will pay the cost of docking and unloading, while Hanjin has repeatedly said it has no money to do so, the Journal reports . (more...)
Seoul eyes consolidation as Hanjin Shipping files for receivership Seoul eyes consolidation as Hanjin Shipping files for receivership
- September 11, 2016

Hanjin Shipping , one of the world's biggest cargo carriers, filed to go into receivership on Wednesday after its creditors cut off support. The court will decide if the company will survive or become bankrupt; if it is to become bankrupt it will be the largest capacity bankruptcy for a container shipper, and the process is expected to take less time than the usual of two months. (more...)
CEO of troubled Italian bank Monte dei Paschi resigns CEO of troubled Italian bank Monte dei Paschi resigns
- September 10, 2016

Monte dei Paschi declined to comment. Viola took the helm in May 2012 "at a time of extreme difficulty for the institute", and "leaves a profitable and solid bank", the lender said ollowing his meeting with the board that agreed on the departure. (more...)
VW Engineer Pleads Guilty in U.S. Criminal Charges Over Emissions Scandal VW Engineer Pleads Guilty in U.S. Criminal Charges Over Emissions Scandal
- September 10, 2016

A veteran Volkswagen AG (VLKAY) engineer pleaded guilty to conspiring to defraud USA regulators and customers, the first criminal charge in the Justice Department's yearlong investigation into the company's rigging of federal air-pollution tests. (more...)
Markets Right Now: Stocks open lower on Wall Street Markets Right Now: Stocks open lower on Wall Street
- September 10, 2016

Financial markets are pricing in a December rate hike. And even though the Fed has yet to reach its 2% inflation target, Mr. Rosengren suggested the strong labor market would nudge up consumer prices, citing "modest evidence of the upward pressure on wages and salaries that would support inflation reaching the Federal Reserve's 2% goal". (more...)
Man steals money from bra of 93-year-old woman in wheelchair Man steals money from bra of 93-year-old woman in wheelchair
- September 10, 2016

Regines department store on East 116th Street where Maria Vasquez , 93, was robbed. Inside the store the victim reached into the elderly woman's dress and removed an envelope containing cash, police said . Vasquez said in Spanish, as soon as she realized what happened, she called for her home health aide and store workers to help, but the suspect was gone. (more...)
Earnings Analysis of: EMC Corporation (NYSE:EMC) Earnings Analysis of: EMC Corporation (NYSE:EMC)
- September 10, 2016

Robert W. Baird boosted their target price on shares of Navistar International Corp . from $12.00 to $20.00 and gave the stock a "neutral" rating in a report on Friday. Separately, Navistar Defense , a segment of the company, said it received a subpoena from the DoD's inspector general requesting documents related to the sale of some independent suspension systems to the government, Reuters reports. (more...)
Burritos in the sky: Chipotle tests drone deliveries Burritos in the sky: Chipotle tests drone deliveries
- September 10, 2016

Chipotle's burritos will be put together at a food truck and then loaded on a drone. The company's Project Wing will realize every college stoner's dream and use, like, flying robots, man , to drop burritos starting next week, according to Gizmodo . (more...)
Goldman reduces expectations of September US rate hike
- September 09, 2016

Tannenbaum, chief economist at Northern Trust, told The New York Times . Benchmark U.S. crude oil gained 79 cents to $45.23 a barrel in electronic trading on the New York Mercantile Exchange, while Brent crude, the benchmark for worldwide oil prices, rose 92 cents to $47.75 a barrel. (more...)
Fed's Yellen says case for interest rate hike has strengthened Fed's Yellen says case for interest rate hike has strengthened
- September 09, 2016

Atlanta Fed President Dennis Lockhart also said on Friday that two rate hikes were possible this year, and Cleveland Fed President Loretta Mester argued for a hike soon to avoid falling behind the curve on inflation. A report on Friday showed the United States economy grew at a slower pace than previously estimated for the second quarter. Fischer said he agreed with the chairwoman. (more...)
Applications for unemployment benefits slipped last week Applications for unemployment benefits slipped last week
- September 09, 2016

The modest drop in claims came as a surprise to economists, who had expected initial jobless claims to inch up to 264,000. A Labor Department analyst said there were no special factors influencing last week's claims data. Despite very low layoffs, the Federal Reserve is widely expected to keep interest rates unchanged at its upcoming September 20-21 policy meeting in the wake of a slowdown in job growth last month and a contraction in manufacturing activity. (more...)
Reliance Jio to offer free voice calls, cheaper data tariffs Reliance Jio to offer free voice calls, cheaper data tariffs
- September 09, 2016

At the launch of Reliance Jio services in India on September 1, the company's chairman Mukesh Ambani requested incumbent telcos to release necessary interconnection points to establish a reliable network of voice calls across India. With that the Chairman of Reliance has announced that anyone using the Jio SIM will be eligible for free data usage until December 31st. The brothers, who together are estimated to be worth $26 billion, have patched things up in recent years. (more...)
Hewlett Packard Enterprise to spin off, merge most of its software business
- September 09, 2016

Later the same month, HP Enterprise announced a deal to spin off a computer services business that employs about 100,000 people-two-thirds of the company's total head count-and merge it with operations of Computer Sciences Corp. Wells Fargo & Co. restated a "buy" rating on shares of Hewlett Packard Enterprise in a research report on Monday, July 11th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.04. (more...)
Walgreens to Divest Additional Stores for Pending Rite Aid Tie-up Walgreens to Divest Additional Stores for Pending Rite Aid Tie-up
- September 09, 2016

Walgreens Boots Alliance Inc. says it remains "actively engaged" with the Federal Trade Commission as it reviews the deal. Walgreens had earlier estimated it would not have to sell more than 500 stores to win over regulators. Walgreens Boots Alliance Inc makes up approx 0.94% of Gratus Capital's portfolio. Walgreens said that the number should be lower than 1,000. The Company is a global pharmacy-led, health and wellbeing enterprise. (more...)
Chancellor Philip Hammond to give first Autumn Statement on November 23 Chancellor Philip Hammond to give first Autumn Statement on November 23
- September 09, 2016

Hammond sets out his plans later this year. Economists expect the OBR's outlook for growth to be significantly lower than at the time of the March budget given by Hammond's predecessor George Osborne. Chancellor Philip Hammond said he understands "the scale of the potential impact leaving the European Union could have for parts of the financial services industry" and will listen to what the industry has to say on key issues, like access to the single market. (more...)
Wells Fargo Fined $185 Million Over Creation Of Fake Accounts For Bonuses Wells Fargo Fined $185 Million Over Creation Of Fake Accounts For Bonuses
- September 09, 2016

The CFPB's investigation into Wells Fargo started with a lawsuit by Los Angeles' City Attorney's office that accused the bank of engaging "in unfair, unlawful and fraudulent conduct", particularly citing pressure on employees to meet sales targets. (more...)
Ash Carter: Russia sowing seeds of global instability Ash Carter: Russia sowing seeds of global instability
- September 08, 2016

Later at a news conference in London, Carter said that Kerry would not be making another try with Lavrov if there were no prospect for success. But he added that the U.S. Carter highlighted two primary challenges during his speech: a more aggressive Russian Federation that seeks to "erode the global order" and the threat of terrorism as the Islamic State group metastasizes. (more...)
Goldman Sachs restricts employee political contributions Goldman Sachs restricts employee political contributions
- September 08, 2016

Ironically the company claims the rules are meant to remove the appearance it is participating in "pay to play". The email cited by Politico does not mention Trump's name but the business magazine Fortune said it had obtained a copy of the memo in which Goldman "specifically mentions the Trump-Pence campaign as an example of one Goldman partners can no longer support". (more...)
Foreign buyers' tax a step in the right direction: Premier Christy Clark Foreign buyers' tax a step in the right direction: Premier Christy Clark
- September 08, 2016

However, compared with July, the figure was down 0.1 per cent. Premier Christy Clark says it's too early to tell if the recently introduced foreign buyers tax is working, but she says this is only the beginning. "This situation continued to underpin very strong home price growth, irrespective of home type or area". TREB said its home price composite benchmark for all housing in August was up 17.2 per cent on a year-over-year basis. (more...)
Putin says Russian Federation didn't hack US Democratic Party Putin says Russian Federation didn't hack US Democratic Party
- September 08, 2016

Even with the country mired in the longest recession in two decades, Mr Putin's ruling party is expected to win a majority of seats in parliamentary elections on Sept 18. There is strong opposition in Russian Federation to the return of the four northern islands. John Herbst, Former U.S. Ambassador to Ukraine said, "Mr. (more...)
South Korea: Hanjin to resume work in Long Beach this week
- September 08, 2016

When the company suddenly filed for bankruptcy last week, the action shook ports around the world. The financial woes have made terminal operators and marine service suppliers wary of working with Hanjin's vessels. The shipping line asked the court to protect its assets in the U.S. against enforcement actions and seizure attempts by its creditors. Delays, replacement shipments and other costs will hurt not only Samsung, but also USA retailers and consumers, Jun Tae Ahn, chief financial ... (more...)