Macy’s is slashing jobs, a harbinger of hard times for retailers after a holiday season that saw a noticeable shift to online shopping and away from physical stores. The nation’s largest department store chain, which also operates Bloomingdale’s, said late Wednesday it is cutting up to 4,800 jobs and trimming its profit outlook after a […]
The Federal Reserve might need to raise interest rates more than four times this year if oil prices stabilize, a Fed policymaker said on Thursday. read more >>> Source : CNBC.Com
The top 400 paid an effective tax rate of 22.89 percent of adjusted gross income in 2013, the highest level since 1997. read more >>> Source : CNBC.Com
Stock futures tunneled into deep losses ahead of Thursday’s open, as instability in China’s markets sent a shudder through global investor confidence for a second time this week. The stock market today again took significant cues from China, where markets opened in a sell-off after a sharp devaluation in the yuan spooked investors. The CSI […]
Richard Perry, Market Analyst for Hantec Markets, joined Nick Batsford on the Tip TV Finance Show to discuss the outlooks for both EUR/USD and EUR/GBP, as well as a view on gold and a prediction for oil. Topics Covered: EUR/USD, EUR/GBP, US NFP, Gold, Oil read more >>> Source : ForexCrunch.Com
BERLIN, Jan 7 (Reuters) – Chancellor Angela Merkel pressed the German authorities on Thursday to get to the bottom of what happened in attacks on women at New Year celebrations in the city of Cologne that have shocked the country. read more >>> Source : Reuters
NEW YORK, Jan 7 (Reuters) – The dollar held earlier losses against a basket of currencies on Thursday after first-time filings for U.S. jobless benefits last week fell from a five-month high though… read more >>> Source : Reuters
Extending losses for the second straight day, the rupee declined by 11 paise to close at more than 3-week low of 66.93 against the US dollar on persistent demand. read more >>> Source : EconomicTimes.IndiaTimes.Com
The Bank of Canada says overcoming the economic suffering inflicted by the commodity-price shock essentially boils down to one main option: ride it out. read more >>> Source : CTVNews.Ca
Bank of Canada governor Stephen Poloz says he won’t try to match recent interest rate increases in the U.S., and will instead set monetary policy in Canada with the goal of controlling inflation. read more >>> Source : CBC.Ca
All eyes are on China to help lift “The Force Awakens” after Disney announced that it had become the U.S.’ highest grossing film ever. read more >>> Source : CNBC.Com
DRIVERS are hoping for another bumper drop in fuel costs as oil prices today slid to their lowest level since 2002. read more >>> Source : The Daily Express
The way that people have been accessing their pension freedoms is “a cause for concern”, retirement experts have said. read more >>> Source : BBC
China stopped trading on its stock market Thursday for the second time this week as share prices plunged and the value of the Chinese currency continued to depreciate. Analysts say the situation in both markets could worsen in the coming days. Chinese stocks tumbled 7 percent, prompting the regulator to shut down the market to […]
A focus on Asia, and specifically China and the Renminbi were brought to us by Jane Foley, Senior FX Strategist at Rabobank when she joined Nick Batsford and Bill Hubard. Topics Covered: China, Renminbi, Forex, Japan, 2016 Outlook read more >>> Source : ForexCrunch.Com
The price of oil is still nosediving. After hitting 11-year lows on Wednesday, prices of both UK Brent and US crude tanked to 14-year lows on Thursday. Brent was down 4.15% at $32.89 (£22.49) at 7 a.m. GMT (2 a.m. ET), and US crude was down 3.84% at $32.66 (£22.33). Both reached levels not seen […]
BENGHAZI, Libya, Jan 7 (Reuters) – Fires have spread to seven oil tanks at Libya’s ports of Ras Lanuf and Es Sider following attacks this week by Islamic State militants, a Petroleum Facilities Guards (PFG) spokesman said on Thursday. read more >>> Source : Reuters
Justin Goromaru’s phone is stolen. But no worries — he has insurance. Oh wait, no he doesn’t. Is he out of luck? Question: I recently upgraded my phone with AT&T. When I did, they they offered me insurance through a company called Asurion. I told the representative that I had two insurance claims on my […]
California declared a state of emergency over a natural-gas leak that has been spewing methane and other gases into a Los Angeles neighborhood. read more >>> Source : CNBC.Com
The recent arrests in Utah of three people accused of stealing thousands of dollars’ worth of baby formula is the latest example of a problem that officials say is vexing stores and police nationwide as thieves systematically swipe the mixture from shelves and resell it to unsuspecting parents. read more >>> Source : CTVNews.Ca
* StanChart has asked China to shorten suspension -source (Adds DBS) read more >>> Source : Reuters
Sports car maker McLaren Automotive announces it will create 250 new jobs following a “record year”. read more >>> Source : BBC
BERLIN, Jan 7 (Reuters) – An American violinist who left her $2.6 million 1727 Stradivarius in the luggage rack on a regional train in western Germany was “more than relieved”, police said, when officers retrieved it one minute before it left the station. read more >>> Source : Reuters
At Business Insider’s 2015 IGNITION conference, CNBC’s Jim Cramer shared how he recovered from a major setback on national television with Jon Stewart. Produced by Alex Kuzoian Follow BI Video: On Facebook Join the conversation about this story » read more >>> Source : BusinessInsider.Com
Chinese drone maker Ehang Inc. on Wednesday unveiled what it calls the world’s first drone capable of carrying a human passenger. read more >>> Source : CNBC.Com
Iran has said that Saudi Arabia has bombarded the Iranian embassy in Yemen. The mood in markets is becoming worse, but oil has a reason for rising. read more >>> Source : ForexCrunch.Com
THE boss of Marks & Spencer has stepped down after the retailer’s clothing sales plunged over the crucial Christmas period. read more >>> Source : The Daily Express
The state of Spain’s labour market has been one of the biggest stories in the Eurozone over the last few years. Basically, it’s a total disaster. At the peak of the country’s unemployment crisis in mid-2013, more than 26% of adults in the labour market were out of work, and youth unemployment stood at an […]
Global shares tumbled for a sixth day on Thursday and oil prices slid to levels not seen since the early 2000s, after China guided the yuan lower and Shanghai shares tumbled by seven per cent, igniting fears of competitive devaluations across Asia. read more >>> Source : CBC.Ca
MOSCOW, Jan 7 (Reuters) – A group of Russian activists said on Thursday they had evidence that Russian aircraft deployed in Syria were armed with cluster bombs, challenging official denials. read more >>> Source : Reuters
London’s leading shares fall 2.8% in Thursday morning trading after Chinese shares slump more than 7% for the second time this week. read more >>> Source : BBC
* China stocks trigger circuit breaker for second time this week read more >>> Source : Reuters
Money is flooding out of China, Russia and Brazil looking for a safe home. Even as oil crashes and the loonie dives there are good reasons why Canada could still be a bolt hole for foreign cash. read more >>> Source : CBC.Ca
USDCAD remains bullish above the 1.4000 level following a break and hold above that level during Wednesday trading session. This is coming on the back of its Tuesday downside price rejection to close higher. On the upside, resistance resides at the 1.4150 level where a break will target the 1.4200 level. Further out, resistance comes […]
Will oil prices only stabilize in 2016, or is there a recovery on the horizon? Barclays oil analyst, Miswin Mahesh weighs in. read more >>> Source : CNBC.Com
It’s not just China driving the market lower but a combination of factors, Barclays oil analyst, Miswin Mahesh explains. read more >>> Source : CNBC.Com
Did you know that 100 Mbps was the original speed touted by Verizon for 4G LTE, starting around 2009? Yet, by 2015, America’s average for 4G LTE speed is about 10-12 Mbps for a download — about 90% off the original marketing hype. But this is old news. Verizon’s hype machine is in full force […]
A new report says sales of homes worth $1 million or more heated up in Toronto and Vancouver last year as the low loonie fuelled demand from foreign buyers. read more >>> Source : CTVNews.Ca
UK house prices rose by 9.5% in 2015, according to the lender Halifax, making it the fastest annual increase in nine years. read more >>> Source : BBC
China weakened the value of its yuan currency by 0.51% to 6.5646 against the US dollar on Thursday, figures from the China Foreign Exchange Trade System showed. Here’s the chart, courtesy of Bloomberg: Confusion over the devaluation helped send markets in the country tumbling, and led to the triggering of the Chinese market’s “circuit breaker” […]
LONDON, Jan 7 (Reuters) – The yen rose to its highest against the dollar in more than four months on Thursday as investors looked for a haven after China guided the yuan aggressively lower, fuelling… read more >>> Source : Reuters
Jan 7 (Reuters) – Hong Kong’s benchmark stock index fell to its lowest since mid-2013 on Thursday, as panic from China’s 7 percent market free-fall spilled over the border. read more >>> Source : Reuters
The US dollar had an excellent 2015 and is beginning 2016 on a strong footing against most currencies. Can this last? The team at HSBC sees a sour 2016 for the dollar against the euro and the yen, and sets targets: Here is their view, courtesy of eFXnews: In contrast to a consensus that expects […]
British retailer Marks & Spencer said on Thursday its Chief Executive Marc Bolland would retire in April and be succeeded by Steve Rowe. read more >>> Source : CNBC.Com
Oil prices tumbled to below $33 a barrel on Thursday as a result of rising US energy stockpiles and China’s weakening currency. read more >>> Source : BBC