Markets

RIP Holden Commodore: Iconic Aussie vehicle to be retired

RIP Holden Commodore: Iconic Aussie vehicle to be retired In a move that has shocked the automotive industry, both the ZB Commodore and BK Astra will be withdrawn from the market next year as Holden looks to narrow its portfolio exclusively to SUVs and light commercial vehicles. Local production ended in 2017 when Holden closed its vehicle assembly operations in Adelaide. At the peak of large auto sales in 1998, Australians bought more than 217,000 v... [Full Article...]

Employees of a Baltimore based company get bonus of a lifetime

Employees of a Baltimore based company get bonus of a lifetime The bonus announcement was easily the highlight of the company's December 7 holiday party. Many people believe they're working for the wrong job now. After the video was shared on social media, one person replied: "This is how you show your employees that you care about them reward them for there hard work and dedication!" Larry Maykrantz, the company's president, asked the crowd to an eruptio... [Full Article...]

Brexit, slowdown drag UK economic growth to seven-year low before polls

Brexit, slowdown drag UK economic growth to seven-year low before polls However, the latest figures suggested the construction sector was likely to drag on the economy - it grew by 0.4% in November but that followed two months of contraction. In the three months to October, growth was flat against the previous quarter. "Our main scenario is for 1% GDP growth in 2020 assuming an orderly Brexit". [Full Article...]

Strong U.S. job growth showcases economy's resilience

Strong U.S. job growth showcases economy's resilience The news wasn't much better nationally as the Canadian job market lost a surprise 71,200 net positions in November while the unemployment rate rose to 5.9 per cent, the highest in more than a year, data showed on Friday. That pares the total number of jobs added this year to around 285,100. "Hiring momentum continues to surpass the growth rate of the labor force", wrote Bloomberg economists ... [Full Article...]

Oil Price Edges Lower as OPEC+ Meeting Expected to Confirm Output Cuts

Oil Price Edges Lower as OPEC+ Meeting Expected to Confirm Output Cuts Oil jumped to the highest since September after Saudi Arabia surprised the market by promising significant additional supply cuts beyond what was agreed to with fellow OPEC+ members. Bush. Brent for February settlement gained 75 cents USA to US$64.14 a barrel on the London-based ICE Futures Europe Exchange. Even so, the cartel could not finalize the details of how to divide the adjustment be... [Full Article...]

Uber's safety report revealed over 3000 sexual assault cases a year ago

Uber's safety report revealed over 3000 sexual assault cases a year ago These numbers mean that almost 99.9% of Uber rides went without incidents. Uber noted that the vast majority - 99.9% - of its rides had no reported safety issues. The report said "drivers have a right to have their experiences told, and we have a responsibility to stand with them". We know most companies would not share publicly much of the information we have included here. [Full Article...]

Oil steadies after brief slide on Trump's US-China trade comments

Oil steadies after brief slide on Trump's US-China trade comments Worldwide benchmark Brent crude was trading at $61.28 per barrel at 0623 GMT on Wednesday for a 0.13% gain after it closed Tuesday at $61.20 a barrel. government said in a monthly report on Friday. Rystad Energy forecasts a supply growth of 2.6 mmbbl per day year-on-year in 2020, led by USA shale, Norway and Brazil against weak global demand growth of only 1.0 mmbbl per day year-on-year. [Full Article...]

Hong Kong protests: University standoff lingers for 5th day

Hong Kong protests: University standoff lingers for 5th day Beijing is pressing Washington to agree to broader tariffs rollbacks on Chinese goods. European markets finished lower with the FTSE 100 down 0.84% while Germany's DAX down 0.48% and France's CAC 40 slipped 0.25%. Trump said Tuesday he was prepared to raise tariffs on Chinese exports further if an agreement can not be reached. The United States has treated it as a separate entity from mai... [Full Article...]

Cambridge RONA among 34 stores to close across Canada

Cambridge RONA among 34 stores to close across Canada A Lowe's Home Improvement store is located on the other side of Pinebush Road from the RONA. To see the exact store locations and closure dates, go here. Another six stores are closing early next year in Alberta, one in Saskatchewan and nine in Ontario. Paulo Gallo, Store manager (left) and Jeff Boyd, V.P. [Full Article...]

Elon Musk: Berlin 'gigafactory' will build Teslas starting with the Model Y

Elon Musk: Berlin 'gigafactory' will build Teslas starting with the Model Y In typical Musk style, he confirmed the decision by Tweeting "Giga Berlin ", and he added that the new factory will build batteries, powertrains and vehicles , starting with the production of the Tesla Model Y . "Most of the set-up work was done by British guys". Tesla did not respond to requests to elaborate on how Brexit helped swing it for Berlin, but German government spokesman Steffe... [Full Article...]

Tesla announces plans to build Gigafactory 4 in Berlin

In an interview with Auto Bild's sister publication Auto Express after the announcement, Musk also said that "Brexit [uncertainty] made it too risky to put a Gigafactory in the United Kingdom". For its part, Germany hailed Tesla's decision to build its first European factory in the country, days after the government said it would boost subsidies for buyers of electrics cars. [Full Article...]

Global billionaires' wealth falls for the first time since 2015

Global billionaires' wealth falls for the first time since 2015 USB and PwC said that factors behind this included "a strong United States dollar, trade friction, fears of lower economic growth, and financial market volatility ". Twenty-seven of the billionaires were self-made, whose wealth accounted for 63 percent of the total owned by the 40 billionaires, the report said. The net worth of China's richest dropped 12.8%, which took dozens off of the billi... [Full Article...]

Vigilante violence prompts fears of widening polarisation in Hong Kong

Vigilante violence prompts fears of widening polarisation in Hong Kong And so did Cupertino, before apparently changing its mind. "Specifically, the app allowed users to evade law enforcement", Apple told the developer, according to a copy of the rejection notice seen by Bloomberg . Blizzard is part-owned by Chinese company Tencent. Our ancestors had been bullied. In his appeal, Leung's lawyer argued his sentence was disproportionate to his offence, citing other... [Full Article...]

British economy would considerably worsen amid no-deal Brexit, says institute

British economy would considerably worsen amid no-deal Brexit, says institute As a result, accumulated national debt would climb to nearly 90 per cent of GDP (Gross Domestic Product) for the first time since the mid-1960s, the IFS said. "An economy that turns out smaller than expected can, in the long run, support less public spending than expected, not more". This idea is supported by Christian Schulz, the leading United Kingdom economist at Citi, one of the leading fi... [Full Article...]

Pizza Express calls in financial advisers as debts spiral to £655m

Pizza Express calls in financial advisers as debts spiral to £655m Fans of Pizza Express are fearing for the chain's future as it has reportedly called in financial advisers. . Author Ian Dunt, who is editor of Politics.co.uk, tweeted: "Would be genuinely sad if Pizza Express folded". "Even restaurants can not escape the on-line revolution, due to the rising dominance of the delivery apps and the vast choice, and therefore competition, they offer". [Full Article...]

Soy, corn futures rally as USA reports smaller-than-expected stockpiles

Soybeans also rose on smaller than expected stockpile. "The dollar remains in a strong trend around two-year highs, which is a burden for US exports". Corn futures went down on disappointing weekly export data. For soybeans, shares have been pegged at 913 million bushels vs. the current trade estimate of 982 million bushels. [Full Article...]

IPhone 11 Performs Similarly to iPhone 11 Pro in Bend, Scratch Tests

IPhone 11 Performs Similarly to iPhone 11 Pro in Bend, Scratch Tests The new technology, which promises to deliver some of the most detailed photos you've ever shot on a smartphone, was first previewed at the iPhone 11 event last month. Deep Fusion will add about a second or so to shooting time, though you won't be kept staring at a photo as it processes - again, all that happens in the background, so you can move right along to the next photo op. [Full Article...]

WeWork CEO stepping aside amid questions about company

WeWork CEO stepping aside amid questions about company Neumann, whose net worth is pegged by Forbes at $2.2-billion, developed a cult following among many We Company employees, vowing to "elevate the world's consciousness" as he sought to establish WeWork as a brand that transcended office sharing. [Full Article...]

Presence of foreign forces in the region creates 'insecurity' in Gulf

Presence of foreign forces in the region creates 'insecurity' in Gulf Speaking to Fox News Sunday, Pompeo added that he was confident U.S. President Donald Trump would take action if such deterrence measures fail and that this was well understood by the Iranian leadership. Trump pulled the United States out of a 2015 nuclear deal with Iran past year and ramped up sanctions to strangle its oil exports, a mainstay of the Iranian economy. [Full Article...]

Jeff Bezos unveils sweeping plan to tackle climate change CNBC

Jeff Bezos unveils sweeping plan to tackle climate change CNBC To help achieve its goal, Amazon has ordered 100,000 electric delivery vans from automaker Rivian. Amazon just announced that it plans to meet the goals of the Paris climate agreement 10 years early. Sally Jewell, interim CEO of The Nature Conservancy , said "healthy forests, grasslands, and wetlands are some of the most effective tools we have to address climate change-but we must act now to... [Full Article...]