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Finance

The cryptocurrency , called Libra , will be backed by a basket of conventional currencies and other stable assets , preventing the wild price swings that have plagued bitcoin and most other cryptocurrencies. He also worries Libra will allow Facebook to slurp up even more data on users than it already has. Presently, some noted "backers" of the Libra project include Uber, Visa , MasterCard, Spotify , Coinbase , Lyft, Paypal, among others.
  • No surprise: Huawei postpones launch of folding Huawei Mate X

    No surprise: Huawei postpones launch of folding Huawei Mate X

    Finance

    Huawei has come under mounting scrutiny for over a year, led by US allegations that "back doors" in its routers, switches and other gear could allow China to spy on USA communications. "We're not specifically asking anyone to lobby for us". Huawei says its place on the Entity List doesn't impact the Mate X's ability to use Google's Android operating system, since the phone was announced well before the USA government took its latest action against the company.
  • G20 agree trade issues threaten globe

    G20 agree trade issues threaten globe

    Finance

    Treasury Secretary Steven Mnuchin on Sunday, as their countries have been discussing a bilateral trade deal with a focus on whether it could involve a provision to prevent competitive currency devaluation. -China trade conflict was inhibiting global growth. The fact that Mexico yielded to Trump's threats of imposing more tariffs could embolden the president further when it comes to China, according to The New York Times .
  • Unemployment rate remains at 3.6% as 75K jobs added in May

    Unemployment rate remains at 3.6% as 75K jobs added in May

    Finance

    They also noted, though, that May's weaker hiring data preceded Trump's threat last week to impose 5% tariffs on Mexico . United States employers added only 75,000 net new positions last month, less than half the 180,000 economists had been expecting, with sudden drops in hiring in healthcare, education and construction.
  • Oil prices tumble amid surging USA crude inventories

    Oil prices tumble amid surging USA crude inventories

    Finance

    Both crude benchmark prices suffered their largest monthly losses in May since November 2018, with the West Texas Intermediate ( WTI ) plunging 16 percent and Brent crude tumbling 11 percent. But they have fallen from a peak above $75 in April to below $62 a barrel on concerns about demand due to a U.S. "The addition of new US supply and its integration into the global market" would pose a "multi-year threat to the market share and revenues" of OPEC+ producers, Goldman Sachs noted.
  • $530 Million Jackpot Drawing Tonight

    $530 Million Jackpot Drawing Tonight

    Finance

    That's pretty good, considering that the odds of winning the Mega Millions Jackpot are 1 in almost 303 million. Of course, he won $1M. The odds of matching all five numbers and the Mega number is 1 in 302 ,575,350, according to the California Lottery.
  • Mexican President hopeful of deal with U.S. on migration

    Mexican President hopeful of deal with U.S. on migration

    Finance

    Amid the negotiations, some Republican lawmakers have continued to express concern about the impact of tariffs on all goods that cross into the USA from Mexico , a move that could ultimately lead to higher prices for United States consumers and hurt U.S.
  • Drones to deliver Amazon packages!

    Drones to deliver Amazon packages!

    Finance

    Amazon also promised that the drone will be safe, not only due to its six degrees of movement or its increased scope for movement but also from its artificial intelligence (AI) capabilities, which will allow it to better navigate past objects and avoid unexpected obstacles, say a confused flock of geese wondering 'oh what new nonsense is this?'.
  • Huawei refutes claims it scaled down phone production

    Huawei refutes claims it scaled down phone production

    Finance

    He added that this may consist of a couple of other components, including limitations in shipments of minerals that are vital for use in the numerous USA made devices and electronic cars. Huawei's Beijing Research and Development Center. Liang made the comments while speaking with a small group of US journalists who were visiting with the China-United States Exchange Foundation.
  • Oil prices rebound on Saudi supply reassurances

    Oil prices rebound on Saudi supply reassurances

    Finance

    Global markets have skidded in recent weeks on concerns the economy could stall amid rising trade tensions between the United States and China, the world's two largest economies and biggest energy consumers. Markets now look forward to the official U.S. government weekly crude stockpiles data due to be published by the Energy Information Administration (EIA) at 1430 GMT for fresh trading impetus.
  • YouTube and Google services interrupted by network congestion

    YouTube and Google services interrupted by network congestion

    Finance

    Early on Monday morning, Google released a statement confirming that is was experiencing high levels of "network congestion" affecting multiple services. Gmail , Google Calendar, Drive, Docs, Sheets, Slides, Sites, Groups, and Hangouts, Hangouts Chat and Meet, Google Forms, Keep, Tasks, Voice, Sync for Mobile, and Realtime API, and YouTube all went AWOL for various users shortly after noon and returned hours later at 4.30pm Pacific Time.
  • Oil Set For Worst Monthly Drop Since November

    Oil Set For Worst Monthly Drop Since November

    Finance

    U.S. West Texas Intermediate ( WTI) crude was down $1.74, or 3.0%, at $57.07, after hitting its session low at $56.77. The United States also exports more fuels to Mexico than any other country, according to the U.S. "The only reason that oil hasn't fallen further is that supply remains relatively tight with ongoing Opec supply cuts, tensions in the middle east and Venezuela's on-going political struggles".
  • China To Create Blacklist Of

    China To Create Blacklist Of "Unreliable" Foreign Firms Amid Huawei Row

    Finance

    China's Foreign Ministry accused the USA government of abusing its power to crack down on Chinese companies in response, calling such measures "disgraceful and unjust". The FedEx mix-up came as Huawei faces U.S. moves to blacklist the company, cutting it off from American-made components it needs for its products, though a 90-day reprieve was issued.
  • Uber to ban low-rated riders from its ride-share service

    Uber to ban low-rated riders from its ride-share service

    Finance

    Uber, which is based in San Francisco, allows customers to book... Uber pledged to release this report after CNN reported last year that at least 103 drivers in the USA have been accused of sexual assault or of other kind of abuse towards their passengers in the previous four years.
  • Fiat Chrysler proposes mega-merger with Renault in auto industry shakeup

    Fiat Chrysler proposes mega-merger with Renault in auto industry shakeup

    Finance

    Renault and Italian-American rival Fiat Chrysler Automobiles (FCA) are in talks to tackle the costs of far-reaching technological and regulatory changes by creating the world's third-biggest automaker. It is a bitter pill to swallow for Nissan, which appeared to be completely left in the dark about the project and is already battling falling sales amid reputational damage from the downfall of Ghosn, who is fighting financial misconduct charges .
  • Hiker found alive after two weeks lost in Hawaii forest

    Hiker found alive after two weeks lost in Hawaii forest

    Finance

    Eller's mother, Julia, said she "elated" by the good news. "So, I said, my auto is this way and I'm just going to keep going until I reach it". She had conquered so much to get to this point. She covered herself in ferns at night to stay warm, according to the publication, also sleeping in the mud and, one night, in a wild boar's nest. Konkol said he and Eller have been dating for about a year.
  • US Federal Reserve may tweak key 'reverse repo' rate

    US Federal Reserve may tweak key 'reverse repo' rate

    Finance

    At that point, with US growth continuing, inflation "muted", and some global risks appearing to have eased, "members observed that a patient approach.would likely remain appropriate for some time.even if global economic and financial conditions continued to improve".
  • Oil prices stabilise after sharp falls earlier in week

    Oil prices stabilise after sharp falls earlier in week

    Finance

    Futures in NY rose as much as 0.9% Friday after plunging 5.7% the day before. Brent for July settlement was up 93 cents to US$68.69 a barrel on the London-based ICE Futures Europe exchange. The supply cuts have had a say on Brent crude prices. Commerzbank's Carsten Fritsch pointed to "general market sentiment and a broad sell-off in commodities, whilst gold is up".
  • China denounces US 'rumors' and 'lies' about Huawei ties to Beijing

    China denounces US 'rumors' and 'lies' about Huawei ties to Beijing

    Finance

    Washington's restrictions affect products made fully or partially in the United States, where Panasonic manufactures some of the components it supplies to Huawei , the Japanese firm said . ARM said in an internal company memo that its designs contain technology of U.S. origin, according to a BBC report , which explains why the company would comply with the ban.
  • Trump’s campaign centered on fighting Democrats, not policy

    Trump’s campaign centered on fighting Democrats, not policy

    Finance

    Trump said he walked into the room where Sen. In a second consecutive day of tough words about Trump by the Democratic speaker of the United States House of Representatives, Pelosi accused Trump of obstruction of justice, which she said is an impeachable offence.