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Rate hike expected as Fed resumes policy meeting

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That would put the benchmark overnight lending rate at 3.4 percent, roughly half a percentage point above the Fed's estimated "neutral" rate of interest, at which rates neither stimulate nor restrict the economy. "Our economy is strong", Powell said at a press conference on Wednesday. Trump considered re-appointing Yellen for a second term but ultimately chose Powell, who has charted a similar monetary policy . Read More »

ABC chair says he never called for sacking

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But Prime Minister Scott Morrison's hope that "normal transmission" will now resume is the wishful thinking of a government that desperately hopes the ABC won't become an election issue, either in the impending Wentworth by-election or at next year's general poll. Read More »

Trump's Claim of Chinese Election Interference

President Donald Trump claimed on Wednesday that China is working to interfere in November's midterm elections with the aim of damaging him politically. Trump is talking up news that the US and Japan will open negotiations on a bilateral trade agreement. But she declined to offer specifics at the time and the White House press office did not answer our questions about Trump's latest accusation. Read More »

Fed hikes key rate for third time this year

William Rhodes, president and chief executive officer of William R. Rhodes Global Advisors, discusses his forecast for Federal Reserve monetary policy. Any signal in that change, however, is unclear. "The rates projections show that the vast majority on the committee continue to believe that rates are below neutral". Read More »

Iran oil exports fall before USA sanctions: global banking group

This is due to sanctions given by the United States against Iran, which will be felt during the latter part of the year. "The main culprit of the price hikes ... A possible fall in Dollars after today's meeting of the Federal Open Market Committee would add to the upward pressure on crude prices despite news of rising U.S. Read More »

Rupert Murdoch's Fox to sell Sky stake to Comcast

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U.S. cable TV giant Comcast succeeded Saturday in its quest to nab Sky, outbidding rival 21st Century Fox as traditional TV and film companies look to beef up their offerings and fend off upstarts like Amazon and Netflix. We bet - and nearly lost - the farm on launching a business that many didn't think was such a good idea. The company, led by executive chairman Rupert Murdoch, said it was proud of its role in building Sky. Read More »

Justin Trudeau full press conference before leaving UN General Assembly

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McNaughton said he had jokingly told Robert Lighthizer, the U.S. Trade Representative, that he would schedule a root canal operation after their next session, "just to make me feel better". "I believe that it is still a remote possibility, but it is slightly higher than it was before this, and that's why the Canadian dollar slumped". The U.S. Read More »

Govt raises import duty on jet fuel, ACs, 17 other items

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Miscellaneous plastics items , and trunks, suitcase, executive cases, brief cases, travel bags and other bags will also see customs duty on them increased from 10 per cent to 15 per cent. The duty on radial vehicle tyres raised from 10 per cent to 15 per cent while for cut and polished diamonds, semi-processed diamonds, lab grown diamonds, coloured gem stones the import hiked from 5 per cent to 7.5 per cent. Read More »

Canada deal in doubt; focus shifts to Japan trade talks

Trudeau told the Council on Foreign Relations Tuesday morning. Under a US legal process known as Trade Promotion Authority that was invoked to revamp NAFTA, Americans lawmakers need to review the text of the agreement 60 days before President Donald Trump can sign it. Read More »

'No deal' not an option - Britain's Labour to vote on Brexit stance

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Acknowledging the sensitivity of the issue, he said: "We have to manage it in a sensible way but we have to accept we are only having this discussion because of the failure of the talks". Labour leader Jeremy Corbyn said the party was also prepared to vote May's deal down. "This is a betrayal of the very highest order". Pro-EU activists were dealt another blow when shadow finance minister John McDonnell on Tuesday said any second vote should not include the choice of whether or not to ... Read More »

Google Reverses Ban on Cryptocurrency Ads

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Alphabet Inc.'s Google changed its blanket ban on cryptocurrency-related advertising, saying it will now allow "regulated" cryptocurrency exchanges in Japan and the U.S.to run ads on its websites. Now, four months later, Gooogle is also partially lifting up the ban, allowing certain kinds of cryptocurrency ads. Google makes most of their money on advertising and they along with other top tech companies have taken heat for sharing their users information to bring in hundreds of millions ... Read More »

Dunkin’ Donuts Is Dropping ‘Donuts’ From Its Name

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Boston Magazine reported on the Dunkin' Donuts name change previous year, calling it an "identity crisis" that could only be described as "disyllabic horror". Reports of the name change suggest the company wants its customers to treat it like another coffee shop, which is why it kept the Dunkin' and dropped the Donuts . Read More »

Brent oil jumps to four-year high near $81

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Earlier this week Trump criticised Opec , urging the oil cartel to "get prices down now". Unipec, the trading unit of top Chinese refiner Sinopec, has put a plan to boost US crude imports on hold as it assesses the impact of the Asian nation's trade war with America, according to company president Chen Bo. Read More »

EU open to free trade but not Chequers customs plan - document

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Reflecting comments made since July by the EU's chief Brexit negotiator, Michel Barnier, and by national leaders who rebuffed May in person last week at a Salzburg summit, the document lays out the bloc's negotiators' thinking on the Chequers plan, which also faces stiff opposition within May's own Conservative Party. Read More »

Trump Has `No Plans' to Meet Iran's Rouhani, But May `Someday'

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Trump has said he's open to meeting with Iran's leaders, but Iranian President Hassan Rouhani said in an interview with NBC News on Monday that Trump's pressure campaign would not bring his government to the negotiating table. election. He threatened to limit U.S. aid only to countries that are friendly to the United States. President Donald Trump called on the United Nations General Assembly Tuesday to isolate Iran's dictatorship through sanctions and diplomacy. Read More »

United States 'dream' of halting Iran's oil exports won't come true: minister

He urged oil consuming nations not to rely on OPEC, stressing the importance of energy independence. " OPEC and OPEC nations are, as usual, ripping off the rest of the world , and I don't like it". Brent crude futures settled up 67 cents at US$81.87 a barrel. That marked a level beyond the last peak witnessed in November 2014. "Previous approval for lower volumes was given before Iran sanctions were announced but (the) situation has changed now, for example, we can not buy USA oil on an ... Read More »

US Based Crypto Exchange Gemini To Expand to Europe

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While it might not compete with Binance as the biggest exchanges in the world, Gemini crypto exchange is certainly among the most renowned. In August this year, the digital money platform and cryptocurrency debit card provider, Wirex, was granted an E-Money License by the FCA . Read More »

British cabinet presses ahead with PM's Brexit blueprint

Mr Rees-Mogg, whose former nanny now cares for his own six children, was speaking at the launch of a free trade blueprint by the Institute for Economic Affairs. Another EU official said May had not only irritated leaders by insisting vocally and very publicly that there was no alternative to her idea but by saying the EU objections had not been given to British negotiators in detail. Read More »

Lighthizer hints Mexico pact may need to be reopened if delayed — NAFTA

A spokesman for Canadian Foreign Minister Chrystia Freeland brushed off the latest remarks from the United States, saying Canada was not interested in focusing on timelines. The administration wants to notify Congress of its plans for a new North American accord by Sunday to meet a timetable permitting the current Mexican president Enrique Peña Nieto to sign it on his final day in office November 30. Read More »

No-deal Brexit better than current European Union offer: PM May

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In the United Kingdom that means a vote by lawmakers, and the math looks ominous for May's minority government. Speaking in favour of the motion earlier on Tuesday, Shadow Brexit Secretary Keir Starmer said the party would vote against a Brexit deal along the lines being proposed by May because it does not meet the "six tests" it has set, including guarantees on workers' rights and retaining the economic benefits of existing market arrangements. Read More »

Versace sold to Michael Kors in $2.1 billion deal

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Investment from Michael Kors , does bode well, however, if its recent acquisition of Jimmy Choo (for £896m last year) is anything to go by. Kors could potentially turn one of the world's most highly regarded luxury clothing brand into a household name, according to fashion insiders. Read More »

Canada's PM sees possibility to build on U.S.-Mexico NAFTA deal

However, if anything that might add more pressure on the U.S., which has squeezed a good deal out of Mexico. Trump himself has suggested that he might simply abandon talks with Canada if Canada did not join the agreement with Mexico. The U.S. reached an agreement with Mexico to overhaul NAFTA last month and is now pushing Canada to sign on. Negotiations aimed at a new agreement have been underway for 13 months, but Canada and the US remain at loggerheads. Read More »

Sky shares rally after Comcast wins bidding war

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Robey Warshaw, Evercore, Bank of America Corp. and Wells Fargo & Co. were to split up to 37.8 million pounds for their work on behalf of the US cable operator, according to that same proposal. "We consider the Comcast Offer to be an excellent outcome for Sky shareholders, and we are recommending it as it represents materially superior value", said Martin Gilbert, Chairman of the Independent Committee of Sky. Read More »

Instagram founders Kevin Systrom and Mike Krieger resign over Facebook leadership clashes

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Without the founders around, Instagram is likely to become more tightly integrated with Facebook, making it more of a product division within the larger company than a separate app, the people said. Facebook's stock hasn't recovered from the hit, either. Instagram has largely escaped Facebook's high-profile problems over user privacy, foreign election interference and fake news, even though it is not immune to any of these things. Read More »

Huge US-China punitive tariffs take effect

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On Monday, the ratings agency Fitch cut its forecasts for next year's Chinese and global economic growth by 0.1 percentage points to 6.1 per cent and 3.1 per cent, respectively. Another US$16 billion of goods were included in August and China retaliated in kind to both moves. A protracted trade war will fuel inflation in the U.S., particularly as tariffs are added to categories such as furniture, apparel and technology, according to analysts at Bloomberg Intelligence. Read More »

Iran says oil to rise as Saudi, Russia do 'little and late'

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Somebody is going to be wrong on the outlook for the crude oil price , as the market can not be well-supplied and increasingly tight at the same time. Saudi Energy Minister Khalid Al Falih also ruled out the need to use spare capacity to increase oil output . However, Saudi Arabia and Russian Federation now say they have no more capacity. Read More »

Sirius XM to buy Pandora for $3.5 billion

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Soros Fund Management, which bought 7.12 million shares, worth $56.1 million, during the second quarter, will receive 1.44 newly issued Sirius XM shares for each Pandora share it owns, at an implied price of $10.14 per share, as part of the satellite-radio company's $3.5 billion, all-stock deal to buy its streaming competitor. Read More »