Finance

Another market slump delivers worst week for Wall Street since 2008

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US Economy Slows To 1.9% In Third Quarter

The U.S. central bank, however, signaled a pause in its easing cycle, which started in July when it reduced borrowing costs for the first time since 2008. It gr...

Smash sandwiches boost Restaurant Brands sales in US

The Canadian coffee chain is blaming a slump in same-store sales on poor returns in the hot drinks, cold drink, and lunch sectors, with sales dropping to $1.77 ...

Tesla filing shows US sales tumbled 39% in third quarter

According to Tesla's filing , the company's revenues in the United States fell to US$3.127 billion for the third quarter, down from US$5.133 billion for the sa...

Molson Coors Restructuring as Sales Decline

Molson Coors is dropping "Brewing" from its name to emphasize that it makes more than beer. The company, which had about 17,750 employees at the end of 2018, ...

Fiat Chrysler confirms merger talks with French auto giant Peugeot

Back in April 2019, there were reports that Groupe PSA and Fiat Chrysler Automobiles would develop electric vehicles together. PSA's supervisory board was...

Inflation rate creeps towards RBA target zone: CommSec

Overall food and drink prices rose by 0.4% with meat and seafood prices up 1.7%, dairy products up by 2.2% and cereal products increased by 1.3%. The Aussie dol...

Fed Cuts Its Interest Rate Target for Third Time This Year

Analysts have forecast that the Fed will reduce the short-term rate it controls - which influences a broad range of consumer and business loans - by one-quart...

Turnaround: GE shares rise as it lifts some 2019 targets

Included were a loss of $0.09 per share to cover a $1 billion premium deficiency revealed in its insurance business and a goodwill impairment to its hydro busin...

Canfor backing sale to Pattison owned firm

Based on the direction given by an independent committee of its board of directors, the Canfor Corporation is backing the bid from Jim Pattison's Great Pacific ...

United Kingdom set for General Election in December

The Brexit drama takes a breather as the United Kingdom domestic agenda comes forwardBarring any last-minute drama at the Lords, an election for 12 December sho...

Bank of Canada holds key interest rate at 1.75%

The bank says the global outlook has continued to deteriorate since the summer and that Canada is feeling the effects. Wednesday's statement also referred to th...

Economic Growth Slowed to 1.9% in the Third Quarter

Growth in gross private domestic investment continued to decline in the three months ended September 30 with a read of -1.5%, but far better than the -6.3% cont...

Indonesia suspends export of nickel ores ahead of schedule

London nickel prices briefly jumped to more than US$17,000 a tonne. Indonesian companies with outstanding export contracts will need to find ways to avoid pos...

Air Canada cargo revenue plunges more than 18%

Air Canada shares jumped 4.46% in morning trading. Air Canada, which now has 400 MAX pilots and 24 grounded MAX jets, had initially expected to operate 50 of...

MI produce company recalling apples due to possible Listeria contamination

The press release was not accessible on the North Bay Produce website as of 9 a.m. EDT, but the Detroit Free Press reported that the apples were shipped f...

GM slashes earnings forecast, citing weeks-long labor strike

GM said the strike will cost the automaker about US$2.9 billion in lost earnings this year, some of which will hit fourth quarter earnings; on a basis of earnin...

China trade progress is giving global markets some hope

China and Hong Kong stocks rallied on Monday, underpinned by gains in tech heavyweights after Beijing pledged more support for the sector, amid hopes that Sin...

Trump has General Motors on his side in emissions fight

Former California Governor Jerry Brown slammed General Motors Co on Tuesday for siding with the Trump administration in its bid to bar California from set...

Coal giant Murray Energy, major Trump backer, files for bankruptcy protection

The company said it has filed motions with the bankruptcy court that when granted will enable day-to-day operations to continue uninterrupted. As part of the ...

U.S. consumer confidence slips in October

But September's figure was revised up to 126.3, so October counts as the third consecutive monthly decline. The index was previously reported at 125.1 in Septem...

Fiat Chrysler in merger talks with Peugeot

Under one recent proposal, Peugeot owner PSA would be the acquiring entity and the French side would have an advantage in terms of board seats, according to one...

MPs vote for general election on December 12

The government's short Bill to hold a poll on December 12 passed its second reading with an "overwhelming majority" without a formal vote but was then subject t...

BP profits slump on weaker oil prices, but beat forecasts

According to the BP executive, global oil demand growth in the third quarter slowed to just 900,000 bpd, down from 1.3 million bpd in Q1 and 1 million bpd in Q2...

Amazon drops grocery-delivery fee as competitors close in

Stephenie Landry , VP of Grocery Delivery for Amazon, said grocery delivery is one of the fastest growing businesses at Amazon, adding that they think this wi...

PM Modi reveals efforts to mitigate global economic downturn effects

There are now nearly three million Indian nationals working in Saudi Arabia , the largest community of expatriates in the kingdom. "I invite global investors t...

Trade optimism, Fed rate-cut expectation sends S&P 500 to record

USA equities finished higher on Monday, boosted by strong corporate earnings and positive signs concerning global trade. The Dow Jones Industrial Average ga...

China’s New Law Could Boost Blockchain Adoption In The Country

Search volumes have almost tripled on both platforms in the last week, and in recent months enormous intraday spikes in interest have started to form much more ...

Amazon could challenge loss of $10 billion Pentagon cloud deal

The company said it was "surprised" by the decision. "AWS is the clear leader in cloud computing, and a detailed assessment purely on the comparative offerings...

ACCC alleges Google mislead consumers over Android location data handling

For that to happen during that time between 2017 and 2018, however, Web & App Activity would have also needed to be switched off. The ACCC also claims that wh...

Alphabet's third-quarter profit misses estimates

The company's stock dipped almost 4% in after-hours trading following the announcement, before stabilizing at a 1.5% decrease later on. Alphabet, which genera...