ECONOMY AND FINANCE


Reserve Bank says too early to claim inflation win


Reported to us by: MONEYWEB - Thu, 04/18/2019 - 06:20 - [CET]
Expects to see price growth stabilising at 4.5% only by the end of 2021.
Newsitem placed in category: ECONOMY AND FINANCE

Load shedding could cut 2019 GDP growth by 1.1 percentage points – Sarb


Reported to us by: MONEYWEB - Thu, 04/18/2019 - 06:08 - [CET]
While 125 000 jobs are at risk should power cuts continue.
Newsitem placed in category: ECONOMY AND FINANCE

'Quite a shock': Ticket reseller Viagogo misled customers on prices, availability


Reported to us by: Sydney Morning Herald - Business - Thu, 04/18/2019 - 06:05 - [CET]
ACCC chairman Rod Sims says Viagogo was charging "extraordinarily high" booking fees and many consumers were caught out.
Newsitem placed in category: ECONOMY AND FINANCE

Immigrants Propel Population Growth in 10% of U.S. Counties


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Thu, 04/18/2019 - 06:01 - [CET]
About one in 10 U.S. counties grew in the fiscal year that ended last June primarily because of immigration—a significant increase from 2011—showing how new arrivals are shaping the nation as the population ages and the birthrate slows, new census figures show.
Newsitem placed in category: ECONOMY AND FINANCE

Samsung receives reports of Galaxy Fold screen problems, says to investigate


Reported to us by: ARAB ECONOMY - Thu, 04/18/2019 - 05:43 - [CET]
Author: ReutersID: 1555557761915507800Thu, 2019-04-18 05:17

NEW YORK/SEOUL: South Korea’s Samsung Electronics Co. Ltd. said it has received “a few” reports of damage to the main display of samples of its upcoming foldable smartphone and that it will investigate.
Some tech reviewers of the Galaxy Fold, a splashy $1,980 phone that opens into a tablet and that goes on sale in the United States on April 26, said the phone malfunctioned after only a day or two of use.
“We will thoroughly inspect these units in person to determine the cause of the matter,” Samsung said in a statement, noting that a limited number of early Galaxy Fold samples were provided to media for review.
The problem seems to be related to the unit’s screen either cracking or flickering, according to Twitter posts by technology journalists from Bloomberg, The Verge and CNBC who received the phone this week for review purposes.
Samsung, which has advertised the phone as “the future,” said removing a protective layer of its main display might cause damage, and that it will clearly inform customers such.
The company said it has closed pre-orders for the Galaxy Fold due to “high demand.” It told Reuters there is no change to its release schedule following the malfunction reports.
The South Korean company’s Galaxy Fold resembles a conventional smartphone but opens like a book to reveal a second display the size of a small tablet at 7.3 inches (18.5 cm).
Although Galaxy Fold and Huawei Technologies Co. Ltd’s Mate X foldable phones are not expected to be big sellers, the new designs were hailed as framing the future of smartphones this year in a field that has seen few surprises since Apple Inc. introduced the screen slab iPhone in 2007.
The problems with the new phone drew comparisons to Samsung’s Galaxy Note 7 phone in 2016. Battery and design flaws in the Note 7 led to some units catching fire or exploding, forcing Samsung to recall and cancel sales of the phone. The recall wiped out nearly all of the profit in Samsung’s mobile division in the third quarter of 2016.
Samsung has said it plans to churn out at least 1 million foldable Galaxy Fold handsets globally, compared with its total estimated 300 million mobile phones it produces annually.
Reviewers of the new Galaxy Fold said they did not know what the problem was and Samsung did not provide answers.
Bloomberg reporter Mark Gurman tweeted: “The screen on my Galaxy Fold review unit is completely broken and unusable just two days in. Hard to know if this is widespread or not.”
According to Gurman’s tweets, he removed a plastic layer on the screen that was not meant to be removed and the phone malfunctioned afterwards.
Dieter Bohn, executive editor of The Verge, said that a “small bulge” appeared on the crease of the phone screen, which appeared to be something pressing from underneath the screen. Bohn said Samsung replaced his test phone but did not offer a reason for the problem.
“It is very troubling,” Bohn told Reuters, adding that he did not remove the plastic screen cover.
Steve Kovach, tech editor at CNBC.com tweeted a video of half of his phone’s screen flickering after using it for just a day.

Main category: Business & EconomyScience & TechnologyLifestyleTags: SamsungGalaxy Fold Samsung Galaxy Fold gets UAE royal seal of approval ahead of April 26 launchSamsung announces folding phone with 5G — at nearly $2,000
Newsitem placed in category: ECONOMY AND FINANCE

Jobs surge past expectations but unemployment ticks up


Reported to us by: Sydney Morning Herald - Business - Thu, 04/18/2019 - 05:29 - [CET]
A bumper run in jobs extended to March and more people went looking for work.
Newsitem placed in category: ECONOMY AND FINANCE

Samsung to Investigate Malfunctioning Screens on Galaxy Fold Phones


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Thu, 04/18/2019 - 05:19 - [CET]
The South Korean technology giant said it would look into what caused some Galaxy Fold phones issued to tech reviewers to malfunction, casting doubts over the rollout of the industry’s first mainstream foldable-screen device.
Newsitem placed in category: ECONOMY AND FINANCE

NorthConnex builder Lendlease hit with class action


Reported to us by: Sydney Morning Herald - Business - Thu, 04/18/2019 - 05:08 - [CET]
Maurice Blackburn on Thursday filed an open class action in the New South Wales Supreme Court against Lendlease.
Newsitem placed in category: ECONOMY AND FINANCE

Energy Department denies Rick Perry will soon step down: report


Reported to us by: MARKETWATCH - Thu, 04/18/2019 - 04:43 - [CET]

The U.S. Department of Energy denied a report Wednesday night that Secretary Rick Perry was preparing to step down from his post. Bloomberg News first reported Perry was finalizing the terms and timing of his departure, though his exit is not expected to be imminent. But a department spokeswoman said: "There is no truth that Secretary Perry is departing the Administration any time soon. He is happy where he is serving President Trump and leading the Department of Energy," according to Reuters. Bloomberg also reported that President Donald Trump had asked Perry to take over as head of Homeland Security, but Perry declined.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

How Wall Street manipulators cause summer gas prices to fall


Reported to us by: NEW YORK POST -BUSINESS - Thu, 04/18/2019 - 04:15 - [CET]
Gasoline prices will decline as we head into summer. Just like last year. That’s according to the latest US government prediction. Historically, the price of gas rises during the summer driving months when more people hit the roads. But in recent years, the financial markets have jacked up fuel costs so much during spring that...
Newsitem placed in category: ECONOMY AND FINANCE

Many Americans see DC’s political climate as our worst economic threat


Reported to us by: NEW YORK POST -BUSINESS - Thu, 04/18/2019 - 04:13 - [CET]
According to a new survey by Bankrate.com, 44 percent of Americans say the political environment in Washington is the biggest threat to the economy over the next six months.
Newsitem placed in category: ECONOMY AND FINANCE

Writers Guild of America suing agencies over packaging fees


Reported to us by: NEW YORK POST -BUSINESS - Thu, 04/18/2019 - 04:08 - [CET]
The Hollywood writers-agents story could become a court drama. The Writers Guild of America, whose members include Seth MacFarlane, Patton Oswalt, Tony Kushner and Tina Fey, is claiming in a lawsuit that Tinseltown’s most powerful agencies have profited on the backs of the writers through the use of so-called packaging fees. The packaging fees collected...
Newsitem placed in category: ECONOMY AND FINANCE

MoviePass accuses Brooklyn, Calif. theaters of overcharging customers


Reported to us by: NEW YORK POST -BUSINESS - Thu, 04/18/2019 - 04:04 - [CET]
The spectacular losses that slammed MoviePass last summer were made even worse by theaters that used sneaky tactics to take advantage of its bottomless film buffet, sources told The Post. The cash-strapped subscription service — whose $10-a-month, all-you-can-watch deal drew a feeding frenzy that spurred a $127 million quarterly loss last summer — also might...
Newsitem placed in category: ECONOMY AND FINANCE

Woodside Petroleum quarterly revenue rises on higher prices


Reported to us by: Sydney Morning Herald - Business - Thu, 04/18/2019 - 03:44 - [CET]
Woodside Petroleum on Thursday posted a 4 per cent rise in first-quarter revenue on higher realised prices for its oil and gas.
Newsitem placed in category: ECONOMY AND FINANCE

GrainCorp flags 'disappointing' hit to grains business


Reported to us by: Sydney Morning Herald - Business - Thu, 04/18/2019 - 03:08 - [CET]
Takeover target GrainCorp said international trade tensions and a severe drought that wilted summer crops would hit earnings.
Newsitem placed in category: ECONOMY AND FINANCE

Could Deutsche Bank probe be an opening for AML reform?


Reported to us by: AMERICAN BANKER - Thu, 04/18/2019 - 03:00 - [CET]
It remains to be seen whether anti-money-laundering provisions will get a deeper look this Congress or whether political optics will divide lawmakers on moving ahead with changes.
Newsitem placed in category: ECONOMY AND FINANCE

India's Jet Airways finds itself out of runway as funds dry up


Reported to us by: Sydney Morning Herald - Business - Thu, 04/18/2019 - 02:44 - [CET]
Embattled Jet Airways halted all flight operations indefinitely on Wednesday after its lenders rejected its plea for emergency funds.
Newsitem placed in category: ECONOMY AND FINANCE

Cyclone Veronica takes toll on Fortescue shipments forecast


Reported to us by: Sydney Morning Herald - Business - Thu, 04/18/2019 - 02:30 - [CET]
Pilbara miner Fortescue Metals Group is the third major miner to downgrade its export forecast as a result of wild weather brought to the region by Cyclone Veronica in late March.
Newsitem placed in category: ECONOMY AND FINANCE

Ad Industry and Commercial Actors Union Agree on New Contract


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Thu, 04/18/2019 - 02:05 - [CET]
The union that represents commercial actors has reached a tentative agreement with Madison Avenue after a contentious battle involving how talent is paid.
Newsitem placed in category: ECONOMY AND FINANCE

Atlassian shares slide in US despite 'flat tack' quarterly result


Reported to us by: Sydney Morning Herald - Business - Thu, 04/18/2019 - 01:53 - [CET]
Shares in the Australian workplace software company tumbled nearly 10 per cent after it underwhelmed investors with its outlook for the rest of the fiscal year.
Newsitem placed in category: ECONOMY AND FINANCE

NAB flags additional $525m hit from new wave of remediation costs


Reported to us by: Sydney Morning Herald - Business - Thu, 04/18/2019 - 01:25 - [CET]
The costs come as NAB compensates customers who were overcharged, sold dud insurance or given poor financial advice.
Newsitem placed in category: ECONOMY AND FINANCE

Publishers Prepare Print Editions of Mueller Report


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Thu, 04/18/2019 - 01:23 - [CET]
A number of publishers are planning to rush out versions of special counsel Robert Mueller’s long-awaited report in both physical an e-book formats, even as it is expected to be available free online.
Newsitem placed in category: ECONOMY AND FINANCE

The market shift that has given Trump's re-election chances a big boost


Reported to us by: Sydney Morning Herald - Business - Thu, 04/18/2019 - 01:14 - [CET]
A noticeable shift has taken place on Wall Street and among many economists and business leaders in recent weeks, and it's good news for President Trump.
Newsitem placed in category: ECONOMY AND FINANCE

Investors await key labour force data


Reported to us by: Sydney Morning Herald - Business - Thu, 04/18/2019 - 00:59 - [CET]
Australian shares are poised to rise slightly at the open, as investors await the March labour force data after the RBA said it could cut rates if the jobless rate rose.
Newsitem placed in category: ECONOMY AND FINANCE

Did JPMorgan just tip its hand on a succession plan?


Reported to us by: AMERICAN BANKER - Thu, 04/18/2019 - 00:55 - [CET]
Marianne Lake, seen in recent months as a leading candidate to replace CEO Jamie Dimon, got the post she may have needed to round out her resume — consumer lending chief. And Jennifer Piepszak, another rising star at the company, will take over as CFO from Lake.
Newsitem placed in category: ECONOMY AND FINANCE

Where are the women money managers?


Reported to us by: MONEYWEB - Thu, 04/18/2019 - 00:55 - [CET]
It's a global question.
Newsitem placed in category: ECONOMY AND FINANCE

Struggling Eskom is bullish on the future of electric vehicles in SA


Reported to us by: MONEYWEB - Thu, 04/18/2019 - 00:55 - [CET]
Motor manufacturers agree that consumers 'need not worry' about load shedding risk.
Newsitem placed in category: ECONOMY AND FINANCE

Value investing and the fine art of negativity


Reported to us by: MONEYWEB - Thu, 04/18/2019 - 00:39 - [CET]
Asking what could go wrong – thinking negatively – helps to reduce the impact of bad decisions and improves the overall returns of a portfolio.
Newsitem placed in category: ECONOMY AND FINANCE

Alliance of American Football Files for Bankruptcy


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Thu, 04/18/2019 - 00:38 - [CET]
The Alliance of American Football, a professional football league that suspended operations after less than two months of competition, has filed for bankruptcy.
Newsitem placed in category: ECONOMY AND FINANCE

The 'king of debt' has a $48 billion fortune and lots of doubters


Reported to us by: Sydney Morning Herald - Business - Thu, 04/18/2019 - 00:25 - [CET]
Donald Trump once called himself the "king of debt.'' Hui Ka Yan, China's richest property mogul, has a much stronger claim to the throne.
Newsitem placed in category: ECONOMY AND FINANCE

JPMorgan’s next CEO could be a woman: source


Reported to us by: NEW YORK POST -BUSINESS - Thu, 04/18/2019 - 00:12 - [CET]
JPMorgan Chase’s longtime chief financial officer, Marianne Lake, is stepping down from her C-suite position to become the CEO of the bank’s giant consumer bank — setting her up to be tapped to be as the next CEO. One JPMorgan exec said the move was structured to make Lake — and her CFO successor, who...
Newsitem placed in category: ECONOMY AND FINANCE

8@eight: ASX set to inch higher


Reported to us by: Sydney Morning Herald - Business - Thu, 04/18/2019 - 00:10 - [CET]
What happened overnight and what's ahead for the ASX.
Newsitem placed in category: ECONOMY AND FINANCE

Weak economy stifles property industry while boosting tourism


Reported to us by: MONEYWEB - Thu, 04/18/2019 - 00:09 - [CET]
New Cape Town AC Marriott hotel aimed at mid-level travellers.
Newsitem placed in category: ECONOMY AND FINANCE

PIC inquiry: Fears of repercussions for Ayo witness


Reported to us by: MONEYWEB - Thu, 04/18/2019 - 00:08 - [CET]
Ayo executive gives candid account of governance issues at the company after being subpoenaed to appear before the commission.
Newsitem placed in category: ECONOMY AND FINANCE

Is there a witch-hunt for the next Steinhoff?


Reported to us by: MONEYWEB - Thu, 04/18/2019 - 00:06 - [CET]
In an environment of negative sentiment, mispricing may create opportunities.
Newsitem placed in category: ECONOMY AND FINANCE

FCC's Pai Opposes China Mobile Bid to Enter U.S. Market


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Thu, 04/18/2019 - 00:01 - [CET]
Federal Communications Commission Chairman Ajit Pai said he would recommend denying China Mobile USA’s application to begin providing some telecom services in the U.S., citing national security risks.
Newsitem placed in category: ECONOMY AND FINANCE

Canopy Growth stock climbs more than 10% after report of potential merger with U.S. pot company


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 23:56 - [CET]

Canopy Growth Corp. shares spiked more than 10% higher in after-hours trading Wednesday after reports that it is preparing to acquire U.S. pot producer Acreage Holdings Inc. Bloomberg and CNBC reported that the two are in discussions, and that Canopy has shopped around for other U.S.-based assets.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Can U.S. Bancorp make its digital cross-selling strategy work?


Reported to us by: AMERICAN BANKER - Wed, 04/17/2019 - 23:47 - [CET]
EO Andy Cecere acknowledges that other banks have tried to broaden customer relationships and selectively expand into new markets before and struggled. But the sophistication of today’s online and mobile services could make all the difference this time, he says.
Newsitem placed in category: ECONOMY AND FINANCE

Ben & Jerry’s issues limited recall of 2 flavors, including Chunky Monkey


Reported to us by: NEW YORK POST -BUSINESS - Wed, 04/17/2019 - 23:40 - [CET]
Ben & Jerry’s has issued a limited recall of its iconic “Chunky Monkey” ice cream and Coconut Seven Layer Bar after finding nuts in the ingredients that weren’t declared on the packages or allergy information list. Its parent company, Unilever, announced the recall Wednesday through the US Food and Drug Administration. Tree nuts — including...
Newsitem placed in category: ECONOMY AND FINANCE

BB&T, SunTrust hire ad agency to develop new brand


Reported to us by: AMERICAN BANKER - Wed, 04/17/2019 - 23:23 - [CET]
Interbrand will work with employees of both banks to develop a new brand and logo.
Newsitem placed in category: ECONOMY AND FINANCE

Business Highlights


Reported to us by: ABC Business - Wed, 04/17/2019 - 23:21 - [CET]
Business Highlights
Newsitem placed in category: ECONOMY AND FINANCE

'Game-changing': $41b boost for company after reaching Apple settlement


Reported to us by: Sydney Morning Herald - Business - Wed, 04/17/2019 - 23:19 - [CET]
The resolution of a long-running legal battle with Apple has seen Qualcomm shares rocket.
Newsitem placed in category: ECONOMY AND FINANCE

Blackstone is doubling down on investments in other buyout firms


Reported to us by: NEW YORK POST -BUSINESS - Wed, 04/17/2019 - 23:16 - [CET]
Blackstone Group isn’t satisfied with the steep fees it charges its clients. It also wants a cut of the steep fees that other buyout firms charge their clients. The private-equity giant headed by billionaire Stephen Schwarzman has nearly doubled the targeted size of a fund that has stakes in hedge funds, real estate companies and...
Newsitem placed in category: ECONOMY AND FINANCE

OCC should speak up on Wells Fargo's exec changes: Warren


Reported to us by: AMERICAN BANKER - Wed, 04/17/2019 - 23:13 - [CET]
The Massachusetts Democrat said the agency could have used existing statutory authority to object to the bank’s appointment of now-departing CEO Tim Sloan.
Newsitem placed in category: ECONOMY AND FINANCE

Wall Street weighed down by health care stocks


Reported to us by: Sydney Morning Herald - Business - Wed, 04/17/2019 - 23:07 - [CET]
US stocks have ended slightly lower as a drop in healthcare shares overshadowed a string of positive corporate earnings and upbeat economic data from the United States and China.
Newsitem placed in category: ECONOMY AND FINANCE

JPMorgan's Lake steps down as CFO effective May 1, will head consumer-lending platform


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 23:04 - [CET]

JPMorgan Chase & Co.'s CFO Marianne Lake is scheduled to step down as the bank's top financial officer after about seven years in the role, effective May 1, the bank said in an internal memo Wednesday afternoon. She will become head of all of the company's consumer-lending operations. The 50-year-old executive will be replaced as CFO by Jennifer Piepszak, JPMorgan's current CEO of card services. Lake was appointed CFO and member of the bank's operating committee back in 2012, and has been viewed by industry watchers (and still is) as a possible successor to CEO Jamie Dimon, when he steps down. Dimon said of the planned change: "We're extremely fortunate that she will be heading a major group of businesses that is core to how we serve millions of Chase customers." Lake will remain a member of the bank's operating committee and become CEO of consumer lending, which will include the bank's credit card, home and auto loan businesses. Meanwhile, Piepszak, 47, is a more than 20-year veteran at JPMorgan Chase. Shares of JPMorgan, the nation's largest bank by market cap, finished Wednesday's session up 2.8% and have gained 17.1% so far this year, with that rise aided by better-than-expected results from the bank last week. JPMorgan's stock performance has thus far outperformed the broad-market S&P 500 index , which is up 15.7% year to date, and the Dow Jones Industrial Average, where it is a component, which has returned 13.4% over the same period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Kinder Morgan shares slip as revenue misses, dividend hiked


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 23:04 - [CET]

Kinder Morgan Inc. said late Wednesday its board hiked the energy infrastructure company's dividend by 25% but revenue came in below Wall Street estimates. Kinder Morgan shares slipped 0.7% after hours, following a 0.6% decline to close Wednesday at $19.69. The company said it will pay a quarterly dividend of 25 cents a share on May 15 to stockholders of record as of April 30. Kinder Morgan also reported adjusted first-quarter earnings of 25 cents a share on revenue of $3.43 billion, while analysts polled by FactSet were looking for 25 cents a share on revenue of $3.67 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Qualcomm's Bet on 5G Pays Off


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Wed, 04/17/2019 - 23:03 - [CET]
Through more than two years of takeover threats and legal strife, the chip maker trained its focus on the future promises of 5G. That fixation is paying off so far.
Newsitem placed in category: ECONOMY AND FINANCE

Samsung’s $2,000 foldable phone is already breaking, reviewers say


Reported to us by: NEW YORK POST -BUSINESS - Wed, 04/17/2019 - 22:56 - [CET]
Samsung’s new $2,000 folding smartphone is falling apart in the hands of reviewers. Numerous tech reviewers who received the $1,980 Galaxy Fold — known for its unique foldable screen as well as its hefty price tag — are now reporting that their devices are breaking. Reporters from outlets like Bloomberg, The Verge and CNBC all...
Newsitem placed in category: ECONOMY AND FINANCE

Pier 1 shares sink as CFO quits, fourth-quarter results disappoint


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 22:52 - [CET]

Shares of Pier 1 Imports Inc. slumped in Wednesday's extended session after the chief financial officer quit abruptly and the company posted weak fourth-quarter results. Pier 1 named Deborah Rieger-Paganis interim chief financial officer following the departure of Nancy Walsh as the company seeks to cut costs amid a double-digit drop in comparable sales. Separately, the retailer reported it swung to a fourth-quarter loss of $68.8 million, or 85 cents a share, from a profit of $15 million, or 19 cents a share, a year earlier. Revenue fell to $412.5 million from $512.2 million and same store sales declined 13.7% year-on-year. The company is considering the possibility of closing up to 45 stores in fiscal 2020 as leases expire. "Pier 1 has conducted a review of its store portfolio and will be seeking occupancy cost reductions. The store closure number could increase to up to 15% of stores if the company is unable to achieve performance goals, sales targets, and reductions in occupancy and other costs," said the retailer in a statement. In January, the company received notice from the New York Stock Exchange that it could be delisted as it failed to maintain an average closing share price of $1 for more than 30 consecutive trading days. Pier 1 has six months to regain compliance. Pier 1 shares sank 12% after hours.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

How the major US stock indexes fared Wednesday


Reported to us by: ABC Business - Wed, 04/17/2019 - 22:52 - [CET]
Stocks finished a wobbly day of trading on Wall Street Wednesday with modest losses that erased most of the market's slight gains from a day earlier
Newsitem placed in category: ECONOMY AND FINANCE

United Rentals stock rallies after company's earnings beat


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 22:51 - [CET]

Shares of United Rentals Inc. rose nearly 7% in the extended session Wednesday after the equipment-rental company reported first-quarter earnings that surpassed Wall Street views. United Rentals said it earned $175 million, or $2.19 a share, in the quarter, compared with $183 million, or $2.15 a share, in the year-ago period. Adjusted for one-time items, the company earned $3.31 a share, compared with $2.87 a share a year ago. Revenue rose 22% to $2.1 billion, including a 23% increase for rental revenues, the company said. Analysts polled by FactSet had expected adjusted earnings of $3.03 a share on sales of $2 billion. United Rentals is about to enter its "busy season with the strongest service offering in our history, given the strategic investments we've made across our business, including acquisitions, to best support our customers," the company said in a statement. Shares of United Rentals ended the regular trading day down 0.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

United Airlines trims growth plan for 2019


Reported to us by: ABC Business - Wed, 04/17/2019 - 22:42 - [CET]
United Airlines is trimming its ambitious growth plan for 2019 because of the grounding of its 14 Boeing 737 Max jets
Newsitem placed in category: ECONOMY AND FINANCE

Screenwriters Union Sues Talent Agencies


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Wed, 04/17/2019 - 22:38 - [CET]
The Writers Guild of America is suing four major talent agencies, alleging that their use of certain business practices puts their own financial interests ahead of their clients’.
Newsitem placed in category: ECONOMY AND FINANCE

Trump administration seeks to boost Opportunity Zones


Reported to us by: ABC Business - Wed, 04/17/2019 - 22:32 - [CET]
Trump administration unveils new proposals to make Opportunity Zone investments more attractive
Newsitem placed in category: ECONOMY AND FINANCE

Alcoa stock slides on Q1 miss, company projects slight smaller aluminum deficit


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 22:31 - [CET]

Shares of Alcoa Corp. fell more than 1% in the extended session Wednesday after the alumina and aluminum producer reported a wider-than-expected adjusted quarterly loss and sales also missed views. Alcoa said it lost $199 million, or $1.07 a share, in the quarter, versus earnings of $195 million, or $1.04 a share, in the year-ago quarter. Adjusted for one-time items, the company lost $43 million, or 23 cents a share, versus earnings of $1.01 a share a year ago. Revenue fell to $2.7 billion from $3.1 billion a year ago. Analysts polled by FactSet had expected an adjusted loss of 13 cents a share on sales of $2.8 billion. "We improved our operations in the first quarter, even as alumina and aluminum prices weakened," Chief Executive Roy Harvey said in a statement. The company kept its prediction of a surplus for the alumina market and a deficit for the aluminum market this year, the latter due to lower demand from China. For 2019, Alcoa projected a global aluminum deficit between 1.5 million metric tons and 1.9 million metric tons, down from last quarter's full-year estimate of between 1.7 million and 2.1 million metric tons. For alumina, Alcoa projected a surplus between 200,000 metric tons to 1 million metric tons. For bauxite, Alcoa expects a slightly larger surplus for the year compared with a prior estimate, with stockpile growth ranging between 8 million and 12 million metric tons. Shares of Alcoa ended the regular trading day flat.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Atlassian stock drops as earnings outlook misses


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 22:27 - [CET]

Atlassian Inc. shares dropped in the extended session Wednesday after the team-collaboration software company's earnings outlook fell short of Wall Street estimates. Atlassian shares fell 8% after hours, following a 1.6% decline to close the regular session at $111.19. The company said it expects adjusted fiscal fourth-quarter earnings of 16 cents a share on revenue of $329 million to $331 million. Analysts surveyed by FactSet expect 19 cents a share on revenue of $327.6 million. The company reported a fiscal third-quarter loss of $202.8 million, or 85 cents a share, compared with $15.8 million, or 7 cents a share, in the year-ago period. Adjusted earnings were 21 cents a share. Revenue rose to $309.3 million from $224.3 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 18 cents a share on revenue of $304.7 million.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Sleep Number stock slumps more than 10% after earnings


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 22:26 - [CET]

Sleep Number Corp. shares dropped more than 10% in after-hours trading Wednesday after the mattress maker reported quarterly earnings. Sleep Number reported profit of $25.4 million, or 80 cents a share, on revenue of $426.5 million, up from earnings of 52 cents a share on sales of $388.6 million a year ago. Sales came up slightly short of average analyst expectations, which called for earnings of 73 cents a share on sales of $428 million. Shares closed down 1.6% Wednesday, after a sharp decline in the afternoon. The stock has gained 30% in the past year, as the S&P 500 index has increased 7.4%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

PepsiCo and Intel rise while IBM and T-Mobile slip


Reported to us by: ABC Business - Wed, 04/17/2019 - 22:26 - [CET]
PepsiCo and Intel rise while IBM and T-Mobile slip
Newsitem placed in category: ECONOMY AND FINANCE

Australian who claims to have invented bitcoin finds himself in a crypto firestorm


Reported to us by: Sydney Morning Herald - Business - Wed, 04/17/2019 - 22:23 - [CET]
The world of cryptocurrencies is in a tizzy, and Craig Wright is at the centre of it again.
Newsitem placed in category: ECONOMY AND FINANCE

Herman Cain says won't quit bid for Fed seat: report


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 22:15 - [CET]

Herman Cain said Wednesday he had no plans to withdraw from consideration for a seat on the Federal Reserve Board, according to a report by the Wall Street Journal. While President Donald Trump has not sent Cain's nomination to Capitol Hill, several Senate Republicans have already said they would not support him. That means the former CEO of a pizza company, and candidate for the Republican presidential nomination in 2012, would need support from Democrats to be confirmed. Cain said the Fed needs "new voices."

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Your Jet Airways tickets are unlikely to be refunded soon


Reported to us by: The Hindu Biz. - Wed, 04/17/2019 - 22:06 - [CET]
Ministry says regulators monitoring situation to ensure rules are followed
Newsitem placed in category: ECONOMY AND FINANCE

Stocks end slightly lower, pulled down by health care sector


Reported to us by: MARKETWATCH - Wed, 04/17/2019 - 22:05 - [CET]

Stocks ended slightly lower Wednesday, with a selloff in the health care sector offsetting corporate earnings as investors paid little heed to unexpectedly strong Chinese economic data. The S&P 500 ended with a loss of around 7 points, or 0.2%, near 2,900, according to preliminary figures, while the Dow Jones Industrial Average edged around 3 points lower to finish around 26,450. The Nasdaq Composite edged down around 4 points, or less than 0.1%, to end near 7,997. Health care was the worst-performing sector in the S&P 500, falling 2.9% and turning negative for 2019, down 0.9% year to date. The sector-tracking Health Care Select Sector SPDR ETF declined 2.7% Wednesday and is off 0.7% so far this year. Analysts have tied weakness in the sector in part to the political climate, including calls for lower drug prices and a "Medicare for All"-type health insurance overhaul.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Newsitem placed in category: ECONOMY AND FINANCE

Indian refiners turn to OPEC to make up Iran oil gap


Reported to us by: ARAB ECONOMY - Wed, 04/17/2019 - 21:40 - [CET]
Author: ReutersID: 1555529800201163400Thu, 2019-04-18 22:37

NEW DELHI: Indian refiners are increasing their planned purchases from OPEC nations, Mexico and the US to make up for any loss of Iranian oil if the US enforces sanctions more harshly from next month, sources and company officials said.
All four Indian state-owned refiners that buy Iranian oil are confident of securing additional barrels from other producers, company officials told Reuters.
The state refiners have not yet placed orders for Iranian oil for May, when the current waiver expires, pending clarity from the US.
India’s Bharat Petroleum Corp. (BPCL) and Mangalore Refinery and Petrochemicals (MRPL) have tapped Iraq to make up for Iranian oil, while Indian Oil Corp. (IOC) has signed its first annual contract with US suppliers and raised supplies from Mexico.
“There will be no supply constraints. The supply can come from both OPEC and non-OPEC nations like the US,” said M. K. Surana, chairman of Hindustan Petroleum Corp, which purchased up to 1.5 million tons per year of Iranian crude in 2018/19.
OPEC and other producers including Russia have gradually tightened supply through 2019 to reduce a global glut. OPEC and its partners may not renew the curbs when they expire after June because of the risk of over-tightening the market.
IOC, India’s top refiner and Iran’s biggest Indian client, will cut Iranian oil imports to 6 million tons, or about 120,000 barrels per day, in the 2019/20 period from 9 million in 2018/19, and has raised the optional volumes it can buy from other producers to 2 million tons, a company official said.
“Our optional quantities under term deals are higher than last year. We have optional contracts with Saudi Arabia, Kuwait and other suppliers ... They will supply more if we want,” the official said, adding his firm would also buy more US oil if required.
IOC also hopes to buy 1.5 million tons of Mexican oil in 2019, compared with 1 million tons last year, the source said.
Officials from state-owned National Iranian Oil did not immediately reply to requests for comment on the Indian refiners’ plans to purchase less Iranian crude.
Refinery officials said that their 2019/20 crude import strategy was not contingent on Iranian oil, and was more flexible than in previous years.
“We don’t have a watertight plan for the year, we have optional quantities so that it is possible to find replacement if any country goes out for any reason,” said an MRPL official.
During previous sanctions against Iran, Saudi Arabia and Iraq raised supplies to India to grow market share in the country, the world’s third-biggest oil consumer and importer.
Last year, MRPL signed its first annual deal with Iraq to buy 1.5 million tons of Basra oil in 2019.

Main category: Business & EconomyTags: OPECIndiaIran Russia and OPEC output in focus as oil extends lossesSeoul trying to convince US to extend Iran oil waiver
Newsitem placed in category: ECONOMY AND FINANCE

Want that first customer? Do research, don't undercharge


Reported to us by: ABC Business - Wed, 04/17/2019 - 21:39 - [CET]
Many small business owners are so anxious to get their first customers or clients that they'll underprice their products or services, and end up in relationships that are not only unprofitable but also unpleasant
Newsitem placed in category: ECONOMY AND FINANCE

Herman Cain Won't Withdraw From Consideration for Fed Board


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Wed, 04/17/2019 - 21:32 - [CET]
Herman Cain said he has no intention of withdrawing his name from consideration for a seat on the Federal Reserve Board, despite an apparent lack of sufficient support for Senate confirmation if President Trump nominates him.
Newsitem placed in category: ECONOMY AND FINANCE

Deposit costs weigh on Signature Bank


Reported to us by: AMERICAN BANKER - Wed, 04/17/2019 - 21:20 - [CET]
CEO Joseph DePaolo lamented the tough funding environment after the New York bank said deposit costs jumped 90% in the first quarter. Signature was the second bank Wednesday to report a drag on profits from funding costs.
Newsitem placed in category: ECONOMY AND FINANCE

Elf Beauty investor demands probe into ex-TPG exec charged in admissions scam


Reported to us by: NEW YORK POST -BUSINESS - Wed, 04/17/2019 - 21:16 - [CET]
A hedge fund is demanding that cosmetics maker Elf Beauty investigate its ex-board member Bill McGlashan, the buyout mogul embroiled in the college-admissions scandal. New York-based Marathon Partners — which has an 8.5-percent stake in Elf, a marketer of “cruelty-free” makeup at discount stores like Walmart and Target — wrote to Elf’s board on Wednesday,...
Newsitem placed in category: ECONOMY AND FINANCE

Uber Nears Investment Deal for Self-Driving Car Unit


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Wed, 04/17/2019 - 20:27 - [CET]
Ahead of its expected IPO, the ride-sharing company is nearing a deal with a group including SoftBank that would invest $1 billion in its autonomous-vehicle division at a valuation of $7.25 billion.
Newsitem placed in category: ECONOMY AND FINANCE

PG&E's Path to Bankruptcy Was Paved With $100 Million of Advice


Reported to us by: WALL STREET JOURNAL - US. BUSINESS NEWS - Wed, 04/17/2019 - 20:26 - [CET]
Before it entered bankruptcy, PG&E Corp. paid more than $100 million for professional advice on how to fend off blame for years of deadly wildfires and, when that failed, how to take cover in chapter 11, new court papers show.
Newsitem placed in category: ECONOMY AND FINANCE

Pages

Subscribe to THE POLITICAL AVENUE™ aggregator - ECONOMY AND FINANCE












Recommended reading [ Posts, articles, documents ]

Report internet garbage on this webpage 24 hours. Apr 16 0 By POLITICAL AVENUE

On this page you can report the worst and shitty online garbage content that made it's way up to the internet.

Apr 14 0 By POLITICAL AVENUE

Police in the Netherlands are investigating the brutal torture of a bitcoin trader, whose home was raided by criminals looking for cryptocurrency.

Apr 11 0 By POLITICAL AVENUE

The Department of Justice on Thursday announced a criminal charge against Wikileaks co-founder Julian Assange, accusing him of conspiring to hack into a classified U.S. government computer.

Apr 4 0 By POLITICAL AVENUE

Honestly, check the CNBC headline:
'Alexa, find me a doctor': Amazon Alexa adds new medical skills

Amazon is moving more deeply into the $3.5 trillion health care sector.

Mar 22 0 By POLITICAL AVENUE

Want to learn more about SIGINT? -Read this.
Here's the evidence from within the NSA organization. Even when the original document is dated a bunch of years back in time, we think of it as a schoolbook example of what USA is up to.

Mar 20 0 By POLITICAL AVENUE

Twenty-nine-year old Devon Alexander, of Coraopolis, worked as a behavioral specialist at the Pace Special Education School in Churchill. The drugs included suspected cocaine, crack cocaine, raw and packaged heroin, a plastic bag of Xanax, marijuana and ecstasy.

Mar 10 0 By POLITICAL AVENUE

Why is it a brown-red ring-of-light around the moon! You know, we don't have brown-red clouds in Sweden. What causes the brown-red light around it, never seen before? The shining lasted for a total of 2-3 days and was not constant.

Mar 3 0 By POLITICAL AVENUE

World's most powerful nuclear submarines, Arkhangelsk and Severstal, are to be dismantled after 2020. The Russian federal nuclear power watchdog, Rosatom, found their further exploitation unprofitable.

-None property have space for gardens.. Mar 3 0 By POLITICAL AVENUE

The Yerdelen brothers, construction entrepreneurs from Istanbul was riding a real estate boom, and had plans to build more than 700 minicastles.

Feb 26 0 By POLITICAL AVENUE

CYBERTERRORISM is the use of modern communication technology in the commission of terrorist activities.

Feb 22 0 By POLITICAL AVENUE

At the height of his power, Escobar was said to be the seventh richest man in the world, with his Medellin drugs cartel thought to be behind -up to- 80 percent of all the cocaine shipped to the United States.

Feb 21 0 By POLITICAL AVENUE

NEW DELHI: Gearing up for its most challenging space mission, Indian Space Research Organisation (Isro) is leaving no stone unturned to make the Chandrayaan-2 (lunar-2) mission a success.

Feb 21 0 By POLITICAL AVENUE

Abwehr scored perhaps its greatest victories in the area of industrial espionage, as agents managed to steal the blueprint for every major American airplane produced in the war effort.

Feb 21 0 By POLITICAL AVENUE

Shorn on the sides, thick on top for the Kim Jong-un look; bright and blonde for the Donald Trump-loving customers. -A creative Hanoi barber is offering free cuts ahead of the leaders’ meeting in the next week in their Vietnamese capital.

Feb 21 0 By POLITICAL AVENUE

Time for a history lesson ! - Here's some old newspaper frontpages you might recognize in memory lane! *Hitler is dead* *Hindenburg* etc.
This is a relatively new post, and it will be updated later with more frontpage material.

Feb 21 0 By POLITICAL AVENUE

Hello. My name is Ed Snowden. A little over one month ago, I had family, a home in paradise, and I lived in great comfort. I also had the capability without any warrant to search for, seize, and read your communications. Anyone’s communications at any time.

Feb 21 0 By POLITICAL AVENUE

Here is the complete building, suit and telephone list to all United States Senators including the number to the Vice President (Printed in 2015 by the Sergeant at Arms).

Feb 18 0 By POLITICAL AVENUE

The definition of "political avenue" are built on the fact that a political decision affects the road of life-choices people have access to when they 'travel' through their lifes or the options politicians make available to them.

Dec 4 0 By POLITICAL AVENUE

VX nerve agent on North Korea’s brothers face ! Courts Chemist says Kim had 1.4 times lethal dosage of VX on his face.

Feb 23 0 By POLITICAL AVENUE

BECAUSE OF THIS FACT:


High taxes prevented us from hiring the person who would have written the page you requested.

-OR BECAUSE OF THIS FACT-


Most of the news published here, you can read in tomorrow's newspaper,
or watch on your television news first in 2 - 3 hours. It's a fast robot to pick up all news fast.
Most often within 30 seconds from when the news first got released or published the first time in any part of the world.
So all news reports, from all news agencies, you have here within the same minute of release. Really quick!
We could adjust it to update every second (technically possible), but it will be considered overload of the news agencies websites, and not popular at all.
So you will have to be okey with one or two intel and news robot automatic updates per minute. Which is still the best news reporting on the market.
Considering the amount of sources we update on (over 100 https:// news channels) per minute. Everything automated 24 hours and 7 days per week.
The goal is to provide the best global overview. And to program the best free Internet tool to stay globally updated at all times.
Example: A nuclear plant outside Oslo, Norway, has a major accident. You want to know more about the situation.
Here you can follow many newsreports from several reporting sources like Reuters, AP, TASS, BBC and CNN to quickly and without to much trouble, asses more information about the accident and get a better overview of the whole situation fast! That's the greatness of this intelligence and news website.
And although some of our clients already work in intelligence agencies and have excellent reporting, they are not always at work having that access.
So when not at work and you wish to have a global update, you are of course welcome here, as the rest of us! Just type NSAROBOT.COM
Hold your mousepointer here in the grey window, or dot it, if you have touchscreen.

Click on the orange button to subscribe to the WORLD NEWS AS REPORTED - RSS FEED!

It works great if you want to have a VERY good up-to-date check of what's happening globally. This delivers all the main news directly to your computer via RSS functions. RSS is an acronym for Really Simple Syndication or Rich Site Summary. It is an XML-based method for distributing the latest news and information from a website that can be easily read by a variety of news readers or aggregators. All the world news in one easy to read RSS source / or / website intel category page, Sir & Ma'm!
We have developed the world/&/political news RSS with 1000 news items for supplying foreign intelligence agencies with global information and important intel newsitems dating up to 3 days back in time.
[ Works perfect with net/surf/software Firefox & MS Edge ]
You get all intel/newsitems delivered directly to your computer!
World CLICK HERE!Political CLICK HERE!

Updates automatically by our news and intel robot every minute.





https://www.politicalavenue.com - All the world news as reported from Washington Post.All the Reuters News Directory at https://www.politicalavenue.comAll the CNN NEWS -click here!The BEST ACCOMPLISHED website WE KNOW of /says NSA about the political avenue - https://www.politicalavenue.com.Politicians are trustworthy says politicalavenue.comhttp://www.politicalavenue.com/TASS news agency page.





Todays latest headlines [search in the database when you need facts for your report]