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IEA cuts oil demand forecasts but sees prices staying high

Bank. Stock markets in Asia plunged to a 19-month low on Thursday after Wall Street's worst losses in eight months led to broader risk aversion, a rise in market volatility gauges and concerns over overvalued stock markets in an environment of rapidly rising dollar yields.

Business

Saudi king calls Erdogan as Khashoggi fallout widens

Reports in the U.S. media suggest that Saudi officials are set to admit that Mr Khashoggi was killed during an interrogation that went wrong, but neither King Salman , or his son and power behind the throne, Crown Prince Mohammed, had ordered Mr Khashoggi's death.

Business

Sears files for bankruptcy; will close another 142 stores

Long-struggling Sears, once the nation's largest retailer, declared bankruptcy early Monday after losing more than $11 billion since 2011, despite cost-cutting measures and hundreds of store closures. Sears filed for bankruptcy protection when it was unable to afford a $134 million debt payment. The store is owned separately from the mall, but Black said Northwood is working closely with New England Development on the redevelopment plans.

Business

Tesla shares fall; SEC, electric vehicle maker both support settlement terms

Musk and Tesla were also fined $20 million each as part of the deal and have until mid-November to find a new chairman. The SEC sued Musk on September 27, alleging that a series of "false and misleading" tweets he made in August about potentially taking Tesla private constituted securities fraud .

Business

Trump on 831 Stock Market Drop: Fed Has Gone Crazy

In a speech in Boston on October 2, Jerome Powell pointed out that at least since 1995, there has been no consistent inverse correlation between low unemployment and rising inflation. Also key, though it can be hard when stocks are swinging wildly: If you're investing for the long-term, don't get caught up in the market's daily up and downs.

Business

US stocks end again with deep losses, Dow -2.1%

The Russell 2000 index of smaller-company stocks shed 2.9 percent, to 1,575.41. Rising bond yields have been drawing investors out of the stock market , and the stocks that have performed best over the past year took some of the biggest losses Wednesday.

Business

Trump says he's spoken with Saudis at 'highest level' over Khashoggi

Khashoggi's disappearance is likely to further deepen divisions between Turkey and Saudi Arabia. The case surrounding the missing Washington Post columnist who disappeared after entering a Saudi consulate in Istanbul, Turkey, raised more concerns in the U.S.

Business

Saudi Arabia to let Turkey search consulate over missing journalist

Erdogan has not accused Saudi Arabia of being responsible for Khashoggi's disappearance but has said that if the Saudis have video footage of him leaving the consulate, they should release it. Sens. Chris Coons, D-Del., and Thom Tillis, R-N.C., said the disappearance of the journalist sends a "chilling message" and called for the Saudis to "immediately investigate and verify Jamal's location".

Business

US unemployment falls to 48-year low in September

Many economists expect pay growth to accelerate in coming months. Amy Glaser, a senior vice president at staffing agency Adecco, told The New York Times after Friday's jobs report release that some seasonal employers are moving up their hiring timelines, easing job requirements and giving workers more flexibility over schedules to attract more applicants.

Business

A Judge Wants Musk, SEC To Justify Fraud Settlement (NASDAQ:TSLA)

District Court in Manhattan asked the SEC and lawyers for Musk and Tesla to submit in writing, by next Thursday, the reasons the settlement should be approved. The infamous 7 August tweet detailed plans to take Tesla private at $420 per share, a number which Musk settled on after rounding up the current share price from a 20 per cent premium due to its significance in marijuana culture.

Business

India Introduces Fuel Relief On Rising Prices At The Pump

So much for good governance? Since mid-August, the petrol price has risen by Rs 6.86 a litre and diesel by Rs 6.73 - the most in any six-week duration after the daily price revision was introduced in mid-June a year ago. In Mumbai, petrol rates had breached Rs 90 per litre. "By asking the oil marketing companies to absorb the price hike, the government is giving a signal that it can interfere at anytime in a deregulated market in the larger public interest", said Gagan Dixit, a senior ...

Business

Toyota recall affects over 50000 United Kingdom cars

The vehicles were involved in an earlier recall that did not fix the previously unanticipated problem that is being addressed now, the company said in a statement . Toyota said it had received three reports of the problem in Japan but they did not involve accidents. The identified fault occurs when a specific hybrid component failure, coupled with hard acceleration, causes the vehicle to lose power rather than enter a fail-safe driving mode.

Business

Eastern Iowa dairy farmers react to replacement NAFTA deal

When told that he seemed confident of congressional approval after his announcement, he said he was "not at all confident" - but not because of the deal's merits or defects. Trump had threatened to go ahead with a revamped NAFTA, with or without Canada. This could pose a problem because the vote on NAFTA 2.0 will not happen until 2019 after the 2018 midterms and a potentially Democratic-and anti-Trump-Congress is seated.

Business

Petrol, diesel price cut: States follows Centre’s footsteps, reduce taxes on fuel

Following Fin Minister announcement of cut of Rs 2.50 per litre in petrol & diesel prices, glad to share that Assam Govt has also chose to reduce Rs 2.50 on both petrol & diesel per litre, making it Rs 5 less than prevailing rates. As on October 4, petrol prices stood at Rs 91.34 per litre in Mumbai . Nearly half of the fuel price is made up of taxes. Excise duty to be reduced by Rs.1.50 & OMCs will absorb 1 rupee .

Business

I told Saudi king he wouldn't last without US support: Donald Trump

You might not be there for two weeks without us. Trump didn't elaborate on when he spoke to the king. Trump called King Salman on Saturday to discuss efforts to maintain supplies to ensure oil market stability and global economic growth, according to Saudi state news agency SPA.

Business

Tesla 3Q production numbers up but can they be sustained?

Some highlights: The company said it delivered more than 55,000 Model 3 sedans during the quarter, a 10th of those in the last week of the quarter. The company said it made 53,239 Model 3 vehicles, in line with its outlook for 50,000 to 55,000, and almost double the number produced in the second quarter.

Business

Tesla shares jump after SEC settlement leaves Musk as CEO

With its meteoric rsie, Tesla has practically recovered the losses it incurred last week after the SEC announced that it was filing a lawsuit against Elon Musk over his " funding secured " Twitter announcement last August. Musk's tweet about taking his company private, along with attacks on critics on social media, raised concerns with investors about whether Musk has become too focused on criticism from so-called short-sellers who had been making bets against him and Tesla .

Business

U.S. Justice Department Sues California Over Net Neutrality Law

FCC Chairman Ajit Pai blasted it as illegal, "radical", and "anti-consumer" during a speech last month. State Sen. Hannah-Beth Jackson, the Santa Barbara Democrat who authored the bill, says having more women on boards will make companies more successful because they are better at teamwork and multitasking compared to their male counterparts.

Business

Facebook Discovers Security Issue Affecting Almost 50 Million Accounts

The attackers not only needed to find this vulnerability and use it to get an access token, they then had to pivot from that account to others to steal more tokens. This enabled them to steal access tokens which they could then use to take over people's accounts, the social media giant said. The hackers were able to exploit this vulnerability to gain access to the security tokens.

Business

General Electric boss exit and $23bn hit stun Wall Street

John Flannery is being replaced as head of General Electric after a little more than a year on the job. Larry Culp, a GE board member who ran USA manufacturer Danaher for more than a decade, is to replace GE veteran John Flannery, effective immediately.

Business

Canada FM postpones United Nations speech as free trade talks intensify

Negotiators are racing against the clock because of a US-set deadline. A USTR spokesman declined comment on the timing. Ujczo said while Canada would rather have tariff protection spelled out when the deal is announced, he expects that as a compromise, all three countries will say they plan to meet again in the near future to hammer out the details of a detente on the tariff threat.

Business

Elon Musk Is Having a Very Bad Week. So Are Tesla Investors

But in a characteristically risky gamble, Musk abruptly backed out of the deal. In a statement to the business news channel, Musk said: "This unjustified action by the SEC leaves me deeply saddened and disappointed". "The SEC is about order and rules". The Department of Justice is now investigating whether to file criminal charges as well. In a lawsuit , the regulator described Musk surprising members of his own team and investors with a series of tweets, starting with the August ...

Business

Tesla Model 3 Exploring All Options To Speed Up Deliveries

Earlier this month, Musk acknowledged that the company was facing more logistical problems now than production delays. 'We did it!' Elon Musk , who is also CEO of Space X and The Boring Company, wrote in an email to Tesla employees. "But if we work really hard I think maybe we can do that in about 3 years", Musk added, saying it depended on both time and scale. Tesla owners who get a friend to buy one are granted free supercharging for life.

Business

Oil could rise to $100 by year-end, merchants warn

A meeting of OPEC and its allies ended without any decision to further increase oil output despite President Donald Trump's call for lower prices . According to the WSJ, Saudi Arabia , the world's top oil exporter has increased production to around 10.4 million barrels of crude per-day over the past two months.

Business

Donald Trump says he rejected Trudeau’s request for one-on-one meeting on NAFTA

U.S. President Donald Trump on Wednesday blasted Canada over the slow pace of talks over NAFTA , saying he was so unhappy that he had rejected Canadian Prime Minister Justin Trudeau's request for a one-on-one meeting. The comments also mark a new low in relations between the two leaders. The NAFTA impasse can't be helping matters, either. He suggested there is deep mistrust in Chrystia Freeland, the lead Canadian trade negotiator, and her team.