Posts Tagged by GLOBAL ECONOMY AND BUSINESS NEWS: Global economy and business news

Google, Amazon, and Tesla are hurtling into a struggling industry — and it’s a sign the bloodbath is just getting started

Homebuilder stocks are on pace for their worst year since 2008. Amid the bloodbath, industry analysts are warning that tech giants are growing their ambitions and investments in the housing market. Amazon, Google, and Tesla have already made some inroads, and could innovate in ways […]

A competitor is emerging to challenge the marijuana retail chain dominating the industry, and it just closed a $640 million acquisition

iAnthus, a publicly-traded firm that operates marijuana dispensaries in a number of US states, acquired Toronto-based MPX Bioceutical in a $640 million stock transaction. The acquisition nearly doubles the firm’s footprint as cannabis retailers compete for scale in the burgeoning sector. Earlier in October, MedMen, […]

The $1 billion Mega Millions jackpot was just drawn — here are the winning numbers

The $1 billion Mega Millions jackpot was just drawn — here are the winning numbers: 65-53-23-15-70 Mega-ball: 7 The odds of winning the record-breaking $1 billion jackpot were one in 302.5 million, or 0.00000033%. Five numbers between 1 to 70 were selected, in addition to […]

India’s forex reserves see biggest single-week fall in 7 years to $394.5 billion

Reserves fell $5.14 billion to $394.46 billion in the week ended October 12, exceeded only by the $5.71 billion decline in the week to November 18, 2011 read more >>> Source:: EconomicTimes.IndiaTimes.Com

Telus launches charitable foundation to help vulnerable youth

Telus Corp. is donating $120 million to launch a foundation that helps vulnerable youth. read more >>> Source:: CTVNews.Ca

Disappointing photos show what owning a yacht is like in real life

Owning a yacht certainly sounds like a dream come true. And if you have a nice chunk of change burning a hole in your pocket, you might want to make that dream a reality. But you should know first that there are several hidden expenses, […]

Sky’s the limit as Calgary opens testing area for drones and new technologies

The sky’s the limit as the city of Calgary opens what it believes is the first testing area in Canada for drones, autonomous vehicles and other technologies. read more >>> Source:: CTVNews.Ca

Goldman Sachs and Google are partnering on a digital wealth offering — and it’s a template for the bank’s ambitions to manage money for the masses (GS)

Goldman Sachs is growing a little-known business called Ayco that works with corporate HR departments and will play a big role in its ambitious revenue plans. “Ayco is a big driver” of the more than $1 billion slated to come from individual clients of Goldman’s […]

Canadian airlines tell feds carbon tax will hurt revenues and domestic routes

Canadian airlines are urging Ottawa to exempt them from the Jan. 1 imposition of a federal carbon tax, which they warn will boost airfares and push passengers across the border to rival carriers and airports. read more >>> Source:: CTVNews.Ca

Stocks see mixed end to volatile week

Stocks fell Friday after an early rally lost steam. A sell-off had shaved thousands of points from the major US indices last week. Watch US stocks trade in real time here. Capping a volatile week on Wall Street, stocks pared earlier gains Friday as investors […]

The Mega Millions jackpot just hit $1 billion. We did the math to see if you should buy a ticket.

The Mega Millions jackpot is at a record-high $1 billion ahead of Friday’s drawing. Though that’s a pretty big prize, working through the math of how lotteries work suggests that buying a ticket is not a great investment. The low probability of winning and the […]

Trump’s ‘opportunity zones’ are popular with investors, but they might offer less benefit to voters

The Trump administration announced new tax rules to help spur investment in economically distressed neighborhoods. While investors can expect immediate tax breaks, the benefits to voters in targeted neighborhoods are harder to measure. read more >>> Source:: CNBC.Com

Trump wants to have a giant signing ceremony for the updated US-Mexico-Canada trade deal, but the other two countries are refusing because of tariffs

President Donald Trump wants to hold a ceremonial signing for the new US-Mexico-Canada trade deal before the midterms to give the GOP a political boost. Canada and Mexico are not keen to join since Trump’s steel and aluminum tariffs remain in place. The three countries […]

Sears is reportedly betting on a lifeline from its controversial former CEO to keep it from liquidating in the next few weeks (SHLD)

Sears is about to find itself in a dire cash situation, according to court filings reported by Bloomberg. The company is relying on a $300 million bailout from former CEO Eddie Lampert. Without this, it could be forced to liquidate in as soon as two […]

U.S. firm Lockheed Martin gets first crack to design $60B warship fleet

The federal government is giving U.S. defence giant Lockheed Martin the first crack at inking a contract to design Canada’s $60-billion fleet of new warships. read more >>> Source:: CTVNews.Ca

SNC-Lavalin writes letter in bid to rally public support over criminal charges

SNC-Lavalin is trying to rally public support as it prepares to endure a lengthy criminal trial after federal prosecutors refused to negotiate a compensation agreement. read more >>> Source:: CTVNews.Ca

Making waves in Scotland – European business assistance helps turn on the power

An EU advisory and planning network, the EEN, has helped Scotland’s Nova Innovation take on the world in the tidal power market. read more >>> Source:: EuroNews.Com

Investors can get big tax breaks if they invest in ‘opportunity zones’ under new Treasury rules

The opportunity zones come with several tax advantages. Capital gains placed in a certified opportunity zone fund will not be taxed through the end of 2026 or when the investment is sold, whichever comes first. read more >>> Source:: CNBC.Com

AMD’s stock price reflects a ‘scenario we don’t believe possible,’ analyst says (AMD)

AMD shares will drop more than 30% to $18 due to comparative disadvantages in its competition with Intel, New Street Research analyst Pierre Ferragu says. Last month analysts expected Intel to undersupply its 10-nanometer chip, but later a report said Intel may cure its production […]

Homeowners poised to start tapping $14.4 trillion in equity

With home equity at an all-time high, homeowners could start turning more often to this source of lower-cost debt. read more >>> Source:: CNBC.Com

Canadian retail sales fall in August: StatsCan

Canadian retail trade fell by 0.1 per cent in August thanks, in part, to lower sales at gas stations and clothing and accessories stores, according to Statistics Canada. read more >>> Source:: CTVNews.Ca

SolarWinds prices downsized IPO at $15 a share

SolarWinds cut the size of its initial public offering. The IT-management-software maker sold 25 million shares at $15 apiece, raising $375 million. Shares will trade under the ticker “SWI.” SolarWinds had a disappointing start to its time as a public company. The IT-management-software maker cut […]

Financial watchdog: Regulate cryptocurrencies now, or else

A global financial body says governments worldwide must establish rules for virtual currencies like bitcoin to stop criminals from using them to launder money or finance terrorism. read more >>> Source:: CTVNews.Ca

Here’s how to buy a discounted car through Costco (COST)

The Costco Auto Program allows Costco members to buy discounted cars from participating dealerships. A wide variety of vehicle types and models are available to buy or lease. The average discount is over $1,000. Costco sells just about everything, so it’s no surprise that the […]

Tesla is set for gains after Elon Musk announced lower-cost Model 3 (TSLA)

Tesla CEO Elon Musk announced on Twitter on Thursday that a lower-cost Model 3 was immediately available for order on the company’s website. The electric car will have a base price of $45,000 and is eligible for federal and state tax rebates. Tesla shares were […]

10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, PYPL, TSLA)

Here is what you need to know. Trump is pulling the US out of an obscure 144-year-old treaty to take a shot at China in the trade war. President Donald Trump announced Thursday that the US would withdraw from the Universal Postal Union, which allows […]

Brexit prompts surge in Brits reclaiming German citizenship

The number of people in Britain seeking to restore their German citizenship has jumped following the U.K.’s decision to leave the European Union. read more >>> Source:: CTVNews.Ca

Beware the ‘real killer’ in markets that’s threatening to strike after decades in hiding

The bond market has gotten crushed in recent weeks as part of a market-wide sell-off. Jim Paulsen, the chief investment officer of Leuthold Group, says the pain may just be getting started for bonds as a measure known as “real yield” edges toward troublesome territory. […]

StarKist Faces $100 Million Fine For Fixing Tuna Prices

Prosecutors allege that the industry’s top three companies conspired between 2010 and 2013 to keep prices artificially high. read more >>> Source:: HuffingtonPost.Com

Euro falls towards two-month low after EU confronts Italy over budget

Political wrangling over the budget in heavily indebted Italy has seen the euro weaken over 1 per cent versus the dollar this week. read more >>> Source:: EconomicTimes.IndiaTimes.Com

A key indicator of Italy’s financial health is flashing red as its EU budget row intensifies

The spread between yields on Italian and German bonds climbed to its highest level in almost five years on Friday. Gap between German 10-year and Italian 10-year now stands at almost 3.4 percentage points. Widening of spread comes as Rome and Brussels clash over Italy’s […]

Ontario Premier Doug Ford’s adviser appointed to Washington trade post

A campaign adviser to Premier Doug Ford has been appointed as Ontario’s trade representative to the United States. read more >>> Source:: CTVNews.Ca

Report: Most Homeowners Say They Have ‘Good Neighbors’

Consumers reveal the qualities they appreciate most in the people living next door—but say cultivating a friendship isn’t necessary. read more >>> Source::

Rupee opens flat at 73.62 against dollar

According to Motilal Oswal Financial Services, USDINR pair is expected to quote in the range of 73.50 and 74.05 on Friday. read more >>> Source:: EconomicTimes.IndiaTimes.Com

Asian stocks tumble after Wall Street skids, China slows

Asian stock markets sank Friday after Wall Street declined on losses for tech and industrial stocks and Chinese economic growth slowed. read more >>> Source:: CTVNews.Ca

‘Very slow’ cooling of China’s economy was expected: BNP Paribas

Tianhe Ji of BNP Paribas says the slowing growth of China’s economy is expected to continue for the rest of the year and 2019. read more >>> Source:: CNBC.Com

Dollar gains on euro as EC criticizes Italian budget

​​The dollar was also supported by hawkish minutes from the Federal Reserve’s September meeting released on Wednesday read more >>> Source:: EconomicTimes.IndiaTimes.Com

The parent company of MoviePass just gave another indication that shareholders are balking at its plan to reverse split its stock (HMNY)

Helios and Matheson, the parent company of MoviePass has hired a second firm to help it solicit and collect votes on a plan to reverse split its stock. The company, which has been losing hundreds of millions of dollars, now expects to spend $109,000 on […]

The video game industry is going to have a very happy holiday season — these 6 charts show why (EA, ATVI)

Video game sales should be robust this holiday season, UBS analyst Eric Sheridan predicts in a new report. More consumers say they plan to buy this year’s versions of top game franchises than previous iterations, according to the report. Significant portions of consumers plan to […]

StarKist admits fixing tuna prices, faces US$100 million fine

StarKist Co. agreed to plead guilty to a felony price fixing charge as part of a broad collusion investigation of the canned tuna industry, the U.S. Department of Justice announced Thursday. StarKist faces up to a US$100 million fine read more >>> Source:: CTVNews.Ca

Trump is pulling the US out of an obscure 144-year-old treaty to take a shot at China in the trade war

President Donald Trump announced that the US would withdraw from the Universal Postal Union, a 192-country treaty that helps to set international postage rates. The decision appears to be a direct shot at China. Chinese goods coming into the US are currently subject to lower […]

Nalcor sends 500 workers home from main contractor at Labrador hydro project

Newfoundland and Labrador’s Crown-owned utility says it has directed the main contractor at the Muskrat Falls hydro-electric megaproject site to stop work. read more >>> Source:: CTVNews.Ca

Top cannabis VCs give their best advice on how to invest in the booming marijuana industry

The booming cannabis industry is a huge opportunity for venture capital funds willing to stomach the risk of investing in a nascent sector. Business Insider surveyed the top VCs writing checks in the industry to understand where the best opportunities are and how to seize […]

Cities Tell Airbnb To Make Room For Affordable Housing

Critics contend nightly lodgings cut into affordable long-term rentals in cities. read more >>> Source:: HuffingtonPost.Com

Millennials are heeding Warren Buffett’s advice during this stock-market sell-off (AMD, TWTR, NFLX, MU, DIS, ACBFF, SBUX, CHK, FB)

The US stock market has faced a heavy selling over the past few weeks amid fears surrounding rising interest rates and escalating trade tensions. Warren Buffett tells investors to buy, hold, and don’t watch too closely when the stock market sells off. Investors on Robinhood, […]

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