Finance


China's economy grows at 6.7% in 2016, its slowest in 26 years
- January 21, 2017

China's economy grew at 6 .7% in 2016 - the slowest in 26 years - but managing to stay within the growth bandwidth promised by the government last year, official data showed on Friday. Other full-year data: Retail sales jumped 10.9%, industrial production rose 6%, and fixed asset investments increased 8.1%. This was better than expected after economists had predicted that growth would fall 0.1 percentage points. (more...)
Hagan Cuts Position in Occidental Petroleum Corporation (OXY)
- January 21, 2017

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mizuho initiated coverage on shares of Occidental Petroleum Corporation in a report on Wednesday, October 5th. Sell side analysts that regularly cover the stock have provided price targets and recommendations on Whiting Petroleum Corporation (NYSE:WLL). Finally, Wells Fargo & Company reiterated an "outperform" rating on shares of Occidental Petroleum Corporation in a research report on ... (more...)
Donald Trump wanted a military parade down Pennsylvania Avenue Donald Trump wanted a military parade down Pennsylvania Avenue
- January 21, 2017

Not present at the Inauguration Day parade will be heavy-duty equipment including tanks and missile launchers, despite an early request from the Trump team, Huffington also reported. 'That military may come marching down Pennsylvania Avenue. The Army will fly four UH-60 Black Hawk helicopters. After all, Washington D.C.is built on a swamp. (more...)
Yellen Sees "A Few" Rate Hikes Per Year Until 2019
- January 21, 2017

To take note of, Janet Yellen said it was "unlikely" that overheating "could rapidly emerge" as a result of a tighter jobs market. Yellen left no doubt that she supports this stance. In December, the central bank's policy-setting Federal Open Market Committee (FOMC) raised the USA benchmark interest rate by 25 basis points to a range of 0.5 percent to 0.75 percent. (more...)
Oracle sued by Labor Department for paying white men more
- January 21, 2017

In a press release , OFCCP Acting Director Thomas M. Dowd said: "Federal contractors are required to comply with all applicable anti-discrimination laws". Oracle hit back, saying the complaint is politically motivated, based on false allegations, and without merit. "It's meant to embarrass the Trump administration; they will be stuck with these lawsuits, and the labor side will cast aspersions on the Trump administration if it moves to change the litigation posture favorably/fairly to ... (more...)
Seahawks may lose second-round pick for mishandling injury report Seahawks may lose second-round pick for mishandling injury report
- January 21, 2017

Prosise after he suffered four significant injuries after he was drafted in May. The NFL seems beyond exhausted of investigating the Seahawks , for the fourth time in six years. Teams have often revealed injuries after the fact and not been penalized. Two years later, the Seahawks got popped for the same violation and the team had to give up a fifth-round pick, a week of practice, and $400,000, while Carroll had to pay $200,000. (more...)
Pearson plans Penguin Random House sell-off as shares dive after profit warning
- January 20, 2017

It expects operating profit in 2017 of between £570 million and £630 million. It has also announced plans to sell its stake in publisher Penguin House, after an "unprecedented period of change and volatility". Pearson said its operating profit for 2016 will meet its guidance, despite an "unprecedented decline" in its North American higher education courseware business in the fourth quarter of the year. (more...)
No 'hard border' despite May's Hard Brexit, says Ireland's PM
- January 20, 2017

May's speech was "Churchillian", while Angela Merkel said she had given a "clearer impression" of what Britain wants. The Prime Minister has reassured a gathering of world business leaders that Britain will continue to be a "forceful advocate" of free markets and global trade, as she promised to bring forward an industrial strategy that will help deliver a Brexit that "works for everyone". (more...)
Australia's Bega Cheese Bags Vegemite from Mondelez
- January 20, 2017

Bega said it would acquire Vegemite, ZoOSH mayonnaise and Bonox beef extract from Mondelez International . Mondelez International are an American owned multinational food and confectionary company who own many well known brands in Australia such as Kraft, Cadbury and (not for long) Vegemite. (more...)
What Is American Airlines's Basic Economy Fare?
- January 20, 2017

But they will ensure that, when American puts a low fare in the market - perhaps $39 from Los Angeles to Dallas/Fort Worth - the airline is more or less matching amenities offered by the ultra low cost competition. Thus, instead of paying $25 (for the first bag) at the check-in counter, Basic Economy passengers will need to fork over at least $50 to gate check their bags. (more...)
Citigroup's Profits Climb On Pick-Up In Trading Activity Citigroup's Profits Climb On Pick-Up In Trading Activity
- January 19, 2017

The figure was also a decline from the $17.76bn it took in the third quarter of 2016. Citigroup's revenue from fixed-income trading rose about 36 per cent, while equity trading revenue rose about 15 per cent, pushing up total markets and securities services revenue by about 24 per cent compared with the same quarter previous year. (more...)
New defense system can hit targets outside the atmosphere
- January 19, 2017

This still leaves time for any surviving missiles to be engaged by Arrow-2 interceptors. It was developed by Israel Aerospace Industries together with US aviation giant Boeing. Numerous systems shared by the Arrow 2 and Arrow 3 - notably the radar and command-and-control systems - have also been upgraded, ahead of the Arrow 3's full integration into the air force's arsenal. (more...)
Five weeks for his new hairdo: Trump stars at Madame Tussauds Five weeks for his new hairdo: Trump stars at Madame Tussauds
- January 19, 2017

Trump is the first president to already have a wax figure. The new figure has been updated to reflect his current appearance. Principal sculptor Dave Gardner said the uncanny likeness was crafted after a sitting, where they measured the head, and he relied on multiple reference photographs for the rest of the creative process. (more...)
Rolls-Royce Agrees To Fines In Bribery, Corruption Case Rolls-Royce Agrees To Fines In Bribery, Corruption Case
- January 19, 2017

The Serious Fraud Office's ( SFO ) third Deferred Prosecution Agreement ( DPA ) with Rolls-Royce has been approved. Announcing the penalties Tuesday, investigators in the U.S., Great Britain, and Brazil said Rolls-Royce paid cash bribes - and in one case a luxury vehicle - in conspiracies that stretched as far back as 1989 and involved secret payoffs in 12 countries from China and Russian Federation to India, Indonesia, and Brazil. (more...)
Morgan Stanley advisers hit revenue record in fourth quarter
- January 18, 2017

Morgan Stanley has received China securities regulator's approval to boost its stake in its Chinese securities venture to 49 percent, said a person with direct knowledge of the matter, making it the first foreign bank to get such a nod. now owns 3,935,004 shares of the financial services provider's stock valued at $102,231,000 after buying an additional 26,826 shares in the last quarter. (more...)
Obama commuted the sentence of military leaker Chelsea Manning
- January 18, 2017

NBC reported earlier this month that Manning, who was serving the longest sentence for a leaker in USA history, was on Obama's shortlist to have her sentence commuted. She also copied thousands of diplomatic cables revealing sensitive national-security details from USA embassies. While imprisoned in Fort Levenworth, Kansas, Manning transition from Bradley Manning , a male, to Chelsea Manning , a female. (more...)
United Kingdom inflation climbs to highest rate since 2014
- January 18, 2017

United Kingdom inflation reached its highest level in more than two years at the end of 2016 on air fares and food prices. It is at its highest since July 2014 and the Bank of England is expecting inflation to rise to almost 3% in 2018 against a background of slowing economic growth. (more...)
Wal-Mart Stores, Inc. (WMT) Position Increased by Schroder Investment Management Group Wal-Mart Stores, Inc. (WMT) Position Increased by Schroder Investment Management Group
- January 18, 2017

Zacks Investment Research has downgraded Wal-Mart Stores, Inc. Wal-Mart's announcement comes as it has been letting thousands of USA employees go so it can focus more on e-commerce and putting more staff on the sales floor. Last week, the company said it was closing its Neighborhood Market store on Independence Boulevard in Charlotte. Walmart's announcement came as somewhat of a surprise however, as brick-and-mortar retailers struggle to compete with online branches. (more...)
Purchased milk in Massachusetts? You may be entitled to a cash settlement Purchased milk in Massachusetts? You may be entitled to a cash settlement
- January 18, 2017

The lawsuit was spearheaded by the animal protection group Compassion over Killing . Residents of Arizona, California, the District of Columbia, Kansas, Massachusetts, Michigan , Missouri, Nebraska, Nevada, New Hampshire, Oregon, South Dakota, Tennessee, Vermont, West Virginia, or Wisconsin are eligible. (more...)
BAT to pay $49 bln for full control of Reynolds BAT to pay $49 bln for full control of Reynolds
- January 18, 2017

British American Tobacco (BAT) has announced it will buy USA competitor Reynolds, after months of talks between the two firms. Reynolds, with headquarters in Winston-Salem, N.C., has a 34 percent cigarette market share, with Newport the leading brand in menthol; Pall Mall the leading value brand and Natural American Spirit the fastest-growing premium brand, according to the company. (more...)
Market coming into balance, OPEC says; Oil rises Market coming into balance, OPEC says; Oil rises
- January 18, 2017

The U.S. Energy Information Administration forecast that U.S. oil production would rise through 2017 to nine million barrels per day. US Shale & non-OPEC countries don't increase production any further, the oil price stays $50. In the past fortnight (Dec 30, 2016- Jan 12, 2017), WTI and Brent oil prices declined by around 1.3 per cent and 1.4 per cent, respectively, while on the MCX, prices fell by around 1 per cent in the same time frame. (more...)
More Evidence That Trump's HHS Choice Has Traded on Insider Information
- January 18, 2017

The company is Zimmer Biomet, a leading producer of hip- and knee-replacements. Phil Blando , a Price spokesman, told CNN that Price's stock purchases did not violate any ethics rules. Records show that after the introduction of the measure, the company's political action committee donated to Price's reelection campaign. Price, a physician who is chairman of the House budget committee and a member of the House ways & means panel, introduced the "Healthy Inpatient Procedures Act" ... (more...)
Ray-Ban maker, Essilor to merge into $49B firm
- January 17, 2017

Essilor said the merger is created to meet growing global demand for corrective lenses, sunglasses and luxury frames. This will result in delisting of Luxottica from stock markets. Del Vecchio, who returned to the helm of Luxottica two years ago after taking a back seat for the previous 10 years, will be CEO and executive chairman of the merged group. (more...)
International Monetary Fund upgrades China growth estimate on stimulus, downgrades India after cash crunch International Monetary Fund upgrades China growth estimate on stimulus, downgrades India after cash crunch
- January 17, 2017

Growth expectations for the Asean-5 and India in 2017 were marked down, as well as those for Latin America and the Caribbean and the Middle East for both years. "At this early stage, however, the specifics of future fiscal legislation remain unclear, as do the degree of net increase in government spending and the resulting impacts on aggregate demand, potential output, the federal deficit and the dollar", Obstfeld said. (more...)
Eight guys own as much as half of all humans
- January 17, 2017

Just eight people own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new Oxfam global report revealing the gap between the super-rich and the poor is far greater than had been feared. "Today almost 800 million people - one in nine - across the world will go to bed hungry or undernourished". The shocking statistics were released as new improved data on global wealth distribution, particularly in India and China, found that the world's ... (more...)