Economy

IMF Chief warns Pakistan against China's involvement in economy

IMF Chief warns Pakistan against China's involvement in economy

The IMF expects the U.S. economy to continue growing this year at 2.9%, but sees that rate falling to 2.5% next year amid the country's escalating trade war with China. The fund urged governments to...

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Dutch PM 'cautiously optimistic' about progress on Brexit talks

Dutch PM 'cautiously optimistic' about progress on Brexit talks

Scottish Minister David Mundell suggested the DUP would come around, saying the alternative was either a government led by opposition Labour leader Jeremy Corbyn or a Brexit next March without any dea...

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Global stocks tumble after Trump 'crazy' Fed comment

Global stocks tumble after Trump 'crazy' Fed comment

Though the Fed has been raising its overnight target policy rate, a benchmark for lending costs overall, the current level of between 2 and 2.25 per cent remains just half the average set by the Fed b...

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Dow industrials sink 831 points as tech companies plunge

Dow industrials sink 831 points as tech companies plunge

The losses were widespread as bond yields remained high after steep increases last week. The index was down 832 points, or 3 percent, at the end of trading Wednesday. But higher interest rates can s...

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Trump Takes Swipe at Fed as Stocks Tumble

Trump Takes Swipe at Fed as Stocks Tumble

It was the sharpest drop in eight months. The Tel Aviv Stock Exchange was down more than two percent, Shanghai plummeted almost 5% while Tokyo and Hong Kong both shed around 4%, as investors frett...

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Google appeals the EU's record-breaking $5bn antitrust fine against Android

Google appeals the EU's record-breaking $5bn antitrust fine against Android

It is not known how the European Union will respond to Google's appeal, nor how long it will take for the case to be heard. The Commission's ruling gave Google 90 days to end the anti-competitive b...

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Dow has worst day in eight months as it drops 800 points

Dow has worst day in eight months as it drops 800 points

That was its biggest loss since March 22. " It can be pretty well validated by looking at monetary history that when you inflate the currency, distort interest rates, and live beyond your means and ...

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Trump calls stock selloff 'a correction,' says Federal Reserve is 'crazy'

Trump calls stock selloff 'a correction,' says Federal Reserve is 'crazy'

I think Fed has gone insane", president Trump replied. "But I think the fed has gone insane". They include the U.S. trade war with China and the potential impact on global growth while rising bond y...

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Trump says Federal Reserve ‘has gone crazy’ after big stock drop

I think the Fed has gone insane", Mr. Trump told reporters after landing in Erie, Pa., for a political rally. "I think the Fed has gone insane". The Dow Jones Industrial Average sank 831 points ...

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Dow Jones Industrial sinks more than 800 points as bond yields rise

Earnings season should improve investors' moods through the end of the year, he writes, with a cycle peak in 2020 and the next major low not due until 2020. Companies that sell non-essentials to consu...

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The Dow tumbles more than 400 points

The Dow Jones industrial average lost 248, or 0.9 percent, to 26,183, and the Nasdaq composite dropped 145, or 1.9 percent, to 7,589. The Nasdaq dropped more than 4% in the worst percentage decl...

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China Trade War to Hurt Global Economic Growth

China Trade War to Hurt Global Economic Growth

In the fund's latest Global Economic Outlook, it estimated that the South African economy would grow by 0.8% this year, down from its initial projection of 1.5% in April. "Risks to global growth skew ...

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Google Pixel 3 First impressions

Google Pixel 3 First impressions

Google's custom wireless charging stand for the phones is another $80. By comparison, Apple sold about 217 million iPhones previous year. Alphabet doesn't break out hardware sales numbers, but the ...

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Sears shares at record low as retailer prepares to file for bankruptcy

Sears shares at record low as retailer prepares to file for bankruptcy

Both Lampert and the Sears special committee now accept that only a court-supervised process can determine the company's future, one of the sources said . Lampert had told the special committee he ...

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India expected to keep buying Iranian oil despite sanctions by US

India expected to keep buying Iranian oil despite sanctions by US

The Trump administration is considering waivers on sanctions, a USA government official said on Friday. Delhi is hopeful that Saudi Arabia and other members of the Organization of Petroleum Export...

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International Monetary Fund warns Nigeria on tough times ahead

International Monetary Fund warns Nigeria on tough times ahead

Britain's FTSE 100 dropped 0.4 per cent to 7,201. The International Monetary Fund has raised Russia's gross domestic product ( GDP ) growth forecast to 1.8 percent for next year as it cuts its glo...

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China stocks stumble despite central bank liquidity support China 10:15

China stocks stumble despite central bank liquidity support China 10:15

The yuan was also down, as expectations of more easing measures by China , plus surging USA bond yields, exert downward pressure on the Chinese currency. "The issue is the loss of confidence", said Z...

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International Monetary Fund raises Israel growth forecast

For next year, trade is seen growing just four percent, a half point less than the prior forecast. Medium term growth could drop below 1.4 per cent. "We have to find a way to get out of this hard ...

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Rocked by Trump's Sanctions, Iranian Oil Exports Drops Further

Rocked by Trump's Sanctions, Iranian Oil Exports Drops Further

India's move marks the second time in recent weeks New Delhi has disregarded the Trump administration's threat of sanctions. In May, Trump pulled the U.S. Keeping oil in bonded storage gives the...

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Economists Nordhaus, Romer awarded 2018 Nobel prize

Economists Nordhaus, Romer awarded 2018 Nobel prize

He and William Nordhaus , a professor of economics at Yale University , will share the 2018 prize, which was announced this morning by the Royal Swedish Academy of Science. William and his brother...

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Brent crude drops below $83 on expectations Iran will maintain some exports

Brent crude drops below $83 on expectations Iran will maintain some exports

Even Russia is helping Iran despite being virtually an energy rival. "Notwithstanding the present demand momentum, we have downgraded our 2019 USA growth forecast owing to the recently enacted tariffs...

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Jaguar Land Rover in two-week shutdown as sales struggle

Jaguar Land Rover in two-week shutdown as sales struggle

A quarter of Jaguar Land Rover's workers will down tools for two weeks later this month in the latest sign of a sales slowdown for the troubled vehicle manufacturer. However, company stressed that i...

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International Monetary Fund lowers China 2019 growth forecast, citing trade war

International Monetary Fund lowers China 2019 growth forecast, citing trade war

According to experts, such inclination in the USA dollar rate against Pakistani rupee is an impact of government's decision to approach the International Monetary Fund ( IMF ) in order to handle the...

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India may continue with Iranian oil imports post sanctions

India may continue with Iranian oil imports post sanctions

The Islamic Republic exported 1.1 million barrels per day (bpd) of crude in that seven-day period, Refinitiv Eikon data showed. The world's third-largest oil importer, India relies upon Iran for 9.4...

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Italian government announces 'brave and responsible' budget plan

Italian government announces 'brave and responsible' budget plan

European Commission Vice President Valdis Dombrovskis and Economy Commissioner Pierre Moscovici penned a joint letter to Economy Minister Giovanni Tria on Friday "taking note" of the plans, which...

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United Kingdom cyber security agency backs Apple, Amazon China hack denials

United Kingdom cyber security agency backs Apple, Amazon China hack denials

The Bloomberg story, which cites 17 unnamed sources including three at Apple and four United States officials, claimed that the microchips were placed onto motherboards in Chinese factories subseque...

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Has Ramaphosa lost confidence in Nene? DA asks

Has Ramaphosa lost confidence in Nene? DA asks

On Friday, Nene apologised for meeting the Guptas at their home and businesses, and for not disclosing the meetings at the time. Basa Chairman Mike Brown said on Monday that the markets would be w...

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Facebook's UK Tax Bill Just Rose to £15.7 Million

Facebook's UK Tax Bill Just Rose to £15.7 Million

That itself is an increase of an increase, because the 2016 tax bill was also higher than the previous year , up from £4.2 million in 2015. In 2016, Facebook's tax bill rose to £5.1m, following a...

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Oil Declines on Hopes for U.S. Waivers on Iran, Saudi Assurance

Oil Declines on Hopes for U.S. Waivers on Iran, Saudi Assurance

A U.S. government official, who spoke on the grounds of anonymity, said the Trump administration is "in the midst of an internal process" of considering exceptions called SRE waivers, or significant...

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SCAM ALERT: Don't Forward 'Got Another Friend Request From You' Facebook PM

If you've received a message from a friend telling you that your Facebook account has been cloned, don't be alarmed. Hi, I actually got another friend request from you yesterday...which I ignored so...

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