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Business

National Bureau of Statistics of China spokesperson Mao Shengyong at a briefing on Friday explained that despite the macroeconomic headwinds applying "downward pressure" on the Chinese economy, growth remains strong, with the country firmly on track to hit its full-year economic growth target of 6.5%.
  • Mega Millions jackpot in U.S. soars to $970M as draw approaches

    Mega Millions jackpot in U.S. soars to $970M as draw approaches

    Business

    No one has matched all six numbers and won the Mega Millions grand prize since July 24. Excitement had already mounted earlier this week as many speculated whether the Mega Millions jackpot would hit a new record high. On top of that, Ascienzo adds, Mega Millions also doubled its ticket price to $2, which has also contributed to the growth. The Kentucky Lottery says someone in Lexington matched all five white balls, but not the Powerball, to win the game's second prize of $1 million.
  • Jamal Khashoggi disappearance: Last column published

    Jamal Khashoggi disappearance: Last column published

    Business

    In his column , Khashoggi begins by lamenting that most countries in the Arab world do not have a free press and as a result, many citizens are "either uninformed or misinformed" about issues that affect their day-to-day lives. His killers later beheaded and dismembered him, it said. However his predecessor, Stephen Cordner, was one of the Saudi surgeon's Australian mentors and recalled the experience in a radio interview on Wednesday.
  • Man linked to Saudi prince at consulate when writer vanished

    Man linked to Saudi prince at consulate when writer vanished

    Business

    As well as visiting the Saudi mission, the suspect is seen at the consul's official residence, checking out of a hotel and at Istanbul's Ataturk airport leaving Turkey later the same day. In the column , Khashoggi wrote about the urgent need for freedom of expression in Arab countries, whose citizens he said were being held slave to state-perpetrated narratives.
  • Saudis said ready to concede writer was slain in botched interrogation

    Saudis said ready to concede writer was slain in botched interrogation

    Business

    Khashoggi , a Washington Post columnist, went missing on October 2. On Monday, President Trump said he'd spoken by phone with Saudi King Salman, who denied any knowledge of Khashoggi's whereabouts. The Journal , like CNN , said the Saudi statement has not been finalized. Meanwhile, UN human rights chief Michelle Bachelet called for the immediate and "absolute" lifting of diplomatic immunity enjoyed by any officials or premises in the Khashoggi investigation.
  • Evidence indicates Khashoggi killed at Saudi consulate, Pompeo is in Ankara

    Evidence indicates Khashoggi killed at Saudi consulate, Pompeo is in Ankara

    Business

    He met King Salman on Tuesday and later with the crown prince who both denied any knowledge of what happened to the Riyadh critic after he entered the Saudi consulate in Istanbul on October 2. "I don't want to get into his mind", Trump said of the king, a former business associate of the erstwhile real-estate magnate. " This guy has got to go ", said Senator Lindsey Graham, a Republican from SC, speaking on Fox television.
  • Oil prices seeking bullish rebound on supply constraints, WTI eyeing $72.00

    Oil prices seeking bullish rebound on supply constraints, WTI eyeing $72.00

    Business

    Retail prices for gasoline and diesel fuel in India are at record highs and the government has cut its excise tax on fuel to ease some of the pain for consumers. Falih said he told India's Prime Minister Narendra Modi and Petroleum Minister Dharmendra Pradhan that Saudi Arabia is committed to meeting its growing oil demand.
  • Climate change may brew trouble for beer lovers

    Climate change may brew trouble for beer lovers

    Business

    The findings come a week after a dire United Nations report described the consequences of unsafe levels of climate change including worsening food and water shortages, heat waves, sea level rise, and disease. From 2010 to the end of the century, they found, there will be 17 such events if humanity manages to cap global warming under two degrees Celsius (3.6 degrees Fahrenheit), and 139 if current rates of carbon pollution persist.
  • No winning Mega Millions ticket; jackpot climbs to $868 million

    No winning Mega Millions ticket; jackpot climbs to $868 million

    Business

    Wednesday, the winning numbers for the $345-million Powerball jackpot prize will be drawn. The largest jackpot belongs to the 2016 Powerball jackpot of $1.586 billion. The MegaMillions prize for Tuesday is the fourth-largest in U. The cash option is usually favored by almost all winners. PREVIOUS STORY: The total jackpot combined for Tuesday night's Mega Millions drawing and Wednesday night's Powerball drawing is $999,000,000.
  • Saudi Arabia warns against any sanctions over missing journalist case

    Saudi Arabia warns against any sanctions over missing journalist case

    Business

    His disappearance has drawn global condemnation and sparked warnings from US President Donald Trump on Saturday of " severe punishment " if the Saudis are found to be behind his death. "From where we sit, we don't see any demand for Saudi equities at all". Jamal reportedly went to the Saudi Consulate located in one of Istanbul's upscale neighbourhood on September 28 to get documents to marry his Turkish fiancee Hatice Cengiz.
  • YouTube down: Major outage prompts outcry on social media

    YouTube down: Major outage prompts outcry on social media

    Business

    Users complained on Twitter about the broadcasting issues. YouTube says it is working on fixing the problem. "We apologise for any inconvenience this may cause and will keep you updated", the streaming service wrote in a Tweet . YouTube appears to be down for many users across the globe. YouTube , an American video-sharing website headquartered in San Bruno, California, was founded by three former PayPal employees - Chad Hurley, Steve Chen, and Jawed Karim - in February 2005.
  • Mega Millions prize of $654M is nation’s 4th-largest

    Mega Millions prize of $654M is nation’s 4th-largest

    Business

    The jackpot has been climbing since July 24, when 11 people in California who took part in an office pool took home a $543 million prize. More than two months ago Powerball hit for the last time when New Yorker Nandlall Mangal was the sole victor of $245.6 million, lottery officials said.
  • Saudi Arabia preparing to admit Khashoggi was killed

    Saudi Arabia preparing to admit Khashoggi was killed

    Business

    Noticeably absent from discussions was the Saudi crown prince, Mohammed bin Salman , about whom Khashoggi wrote critically for the Washington Post and whose rise to power prompted the writer to go into a self-imposed exile in the US.
  • Donald Trump says 'rogue killers' may have murdered Jamal Khashoggi

    Donald Trump says 'rogue killers' may have murdered Jamal Khashoggi

    Business

    He said that they are working closely with Turkey to find answer. CNN reports that the Saudi government is preparing to say Jamal Khashoggi died during an interrogation that went wrong. Turkish diplomatic sources said the consulate would be searched by a joint Turkish-Saudi team in the late afternoon or evening. Khashoggi has been missing since he stepped inside the Saudi consulate in Istanbul on October 2, with Turkish officials saying they believe he has been killed.
  • Saudi king orders probe in Khashoggi case

    Saudi king orders probe in Khashoggi case

    Business

    The shares of Saudi Arabia in the Riyadh stock market plunged as much as 7 per cent on Sunday, much to the jitters of the investor. President Donald Trump has said Saudi Arabia could face " severe punishment " if it is proven it was involved in Khashoggi's disappearance.
  • Jasper Kmart closing as Sears files bankruptcy

    Jasper Kmart closing as Sears files bankruptcy

    Business

    While a successful reorganization under Chapter 11 may yet save Sears, several lenders and investors still believe the most likely fate of the 126-year-old company is outright liquidation. Sears said it intends to continue payment of employee wages and benefits, honor member programs, and pay vendors and suppliers in the ordinary course for all goods and services provided on or after the filing date.
  • Sears, the store that changed America, declares bankruptcy

    Sears, the store that changed America, declares bankruptcy

    Business

    According to the release, the now-former CEO Edward Lampert will remain Chairman of the Board. In September, Lampert - Sears' largest shareholder and creditor and the owner of the hedge-fund ESL Investments - asked creditors to refinance $1.1 billion in debt before the October 15 payment, according to a filing with the Securities and Exchange Commission.
  • World Oil Market Well Supplied For Now, Says IEA

    World Oil Market Well Supplied For Now, Says IEA

    Business

    Oil prices have been creeping upwards for more than a year, quietly gaining ground as emerging-market investors fretted about trade and the end of cheap money. Characterized by geopolitical volatility, boom and bust cycles, destructive market rules and lack of cooperation, the rivalry scenario would see higher energy intensity, lower GDP, largely stable share of fossil fuels and more demand for shale gas.
  • USA and United Kingdom considering boycotting Saudi conference over Khashoggi crisis

    USA and United Kingdom considering boycotting Saudi conference over Khashoggi crisis

    Business

    The source quoted by SPA said: "The kingdom affirms its total rejection of any threats or attempts to undermine it whether through threats to impose economic sanctions or the use of political pressure". Business barons, including British billionaire Richard Branson and Uber CEO Dara Khosrowshahi, as well as media powerhouses like Bloomberg and CNN , have pulled out of next week's Future Investment Initiative in Riyadh , dubbed "Davos in the desert".
  • Factors beyond producers' control are impacting oil market - OPEC

    Factors beyond producers' control are impacting oil market - OPEC

    Business

    As per to the primary tanker tracking data collected by Bloomberg , the exports of Iran's condensate and crude oil dropped down in last month to 1.72 Million bpd that was down by 260,000 bpd and the lowest level since February 2016. The increase is the biggest weekly gain since mid-August. In a similar vein, Jeffrey Currie , global head of commodities research and partner at Goldman Sachs - which in recent weeks has expressed conflicting opinions about where the crude market is heading ...
  • Mega Millions, Powerball jackpots total $862 million

    Mega Millions, Powerball jackpots total $862 million

    Business

    The prize has been growing for 23 consecutive drawings since July 24. The Kentucky Lottery is giving away hundreds of Mega Millions tickets ahead of Friday's big drawing. The next drawing at 11 p.m. EDT Friday will offer the ninth-largest jackpot in USA history. The jackpot had climbed to an estimated $548 million. Saturday's jackpot has a cash option of $179.4 million.
  • The Longest Flights In The World

    The Longest Flights In The World

    Business

    However, Singapore Airlines is now operating the long-range Airbus A350-900ULR on the route. Two pilots, a special "wellness" menu and more than a thousand hours of inflight entertainment will accompany travellers on the first 10,400-mile flight to the Big Apple today (Thursday, October 11).
  • Qatar shows concerns over

    Qatar shows concerns over "suspicious" disappearance of Saudi journalist

    Business

    Khashoggi, who moved to the USA in 2017 and worked as a columnist for The Washington Post , disappeared in Turkey on October 2 when he reportedly entered the building of Saudi Arabia's Consulate in the city of Istanbul. Threatening to impose economic sanctions and repeating "false accusations " will not undermine the country's standing, said the statement on Saudi Arabia's official press agency, which quoted an "official source".
  • Mnuchin says Trump respects the independence of the Fed

    Mnuchin says Trump respects the independence of the Fed

    Business

    He said the Federal Reserve was being "too aggressive" by raising interest rates this year and getting "a little bit too cute". On Thursday, the Dow Jones Industrial Average tumbled 2.1 percent - or 546 points, after having sunk 831 points on Wednesday.
  • James Murdoch In Driver’s Seat To Replace Elon Musk As Tesla Chairman

    James Murdoch In Driver’s Seat To Replace Elon Musk As Tesla Chairman

    Business

    In August, the controversial entrepreneur said he was "considering taking Tesla private" with " funding secured " at US$420 ($580) per share. In a joint filing , all parties involved described the punishment for Musk tweeting about his plan to take Tesla private as "fair" and in the best interest of investors.
  • Facebook breach: Hackers stole details of 29 million users

    Facebook breach: Hackers stole details of 29 million users

    Business

    Hackers stole neither personal messages nor financial data and did not use their access to accounts users' accounts on other websites , the company said. She would not say if the help pages in question had been updated since the company discovered the recent breach . For 15 million of those people, the hackers were able to get phone number, email address, or both.
  • The passengers are ready for the world’s longest flight

    The passengers are ready for the world’s longest flight

    Business

    Singapore Airlines is bringing back its longest flight from Singapore to NY on October 11, to regain the title of the world's longest flight from Qatar Airways' Doha-Aukland flight, according to a report by Bloomberg. 11, 2018, in Singapore. Travelling from Singapore's Changi Airport to Newark Liberty Airport in New Jersey, they'll fly a whopping distance of 16,700 kilometres, just 1300 kilometres shy of the plane's maximum range - which is cutting it awfully close, if you ask us.
  • Prospect of Trump-Xi talks raises hope for thaw in trade war

    Prospect of Trump-Xi talks raises hope for thaw in trade war

    Business

    Customs data on Friday showed growth in Chinese imports of US goods decelerated to 9 percent over a year earlier. The two countries imposed new tariffs on a massive amount of each other's goods mid-September, with the USA targeting $200 billion in Chinese imports and Beijing firing back at $60 billion worth of United States goods.
  • USA pastor held in Turkey may be released under secret deal

    USA pastor held in Turkey may be released under secret deal

    Business

    Under an agreement senior Trump administration officials recently reached with Turkey , Brunson is supposed to be released after certain charges against him are dropped at his next court hearing, now scheduled for Friday, the senior administration officials and a person briefed on the matter said.
  • Trump on 831 Stock Market Drop: Fed Has Gone Crazy

    Trump on 831 Stock Market Drop: Fed Has Gone Crazy

    Business

    Now, if you discount the trade tension/global slowdown theory for this week's stock selloff - and I wouldn't do that, but let's say you did - then you've got to think that the market is fearing that the Fed will respond to inflationary signals with more hikes than investors previously expected, maybe enough to hurt corporate profits, or dim the USA economy into recession, or at least shift capital flows into bond markets at the expense of equities.
  • International Monetary Fund says trade spat curbing growth

    International Monetary Fund says trade spat curbing growth

    Business

    The IMF expects a 2.9 percent growth outlook on the USA economy, but thinks growth will shrink to 2.5 percent for 2019, attributing to the slowdown to the country's escalating trade war with China . "In this environment, economic growth will likely slow significantly, and inflation will rise", he said in a statement. Equally, Angola is at the moment contracting by about 0.1 per cent this year, with a projection of almost four per cent in 2019.
  • DUP steps up warning to May not to compromise on Border

    DUP steps up warning to May not to compromise on Border

    Business

    Labour demands that Britain retain "the exact same" perks it now has within the EU's customs union and single market - something May's so-called Chequers plan does not meet and which the EU rules out since London made a decision to leave both.
  • Dow plummets 800 points, biggest drop in 8 months

    Dow plummets 800 points, biggest drop in 8 months

    Business

    But at its session low the benchmark fell 2.7 percent to its lowest level since early July. Investors are also anxious about the ongoing trade war with China and its impact on corporate bottom lines as well as the rising threat of higher interest rates.
  • Pakistan to seek International Monetary Fund bailout to overcome financial crisis

    Pakistan to seek International Monetary Fund bailout to overcome financial crisis

    Business

    In the latest report , Taiwan's major trade partner South Korea is projected to grow 2.8% and 2.6% for 2018 and 2019, respectively, downward revisions by 0.2 and 0.3 percentage points from previous forecasts. Some energy-rich emerging market countries have fared better due to higher oil prices, with Saudi Arabia and Russian Federation seeing forecast upgrades.
  • China promises not to weaken yuan, criticizes United States concern

    China promises not to weaken yuan, criticizes United States concern

    Business

    China insisted last month, in a 71-page paper, that its economy is "highly resilient" and Beijing is not afraid of a trade war. "There's an acute shortage of confidence in the market". Yields of China's 10-year central government bonds have been trending lower this year, standing at 3.633 per cent on Monday. "The narrowing interest rate differentials between China and the U.S.
  • Donald Trump demands answers from Saudi ally about missing journalist Jamal Khashoggi

    Donald Trump demands answers from Saudi ally about missing journalist Jamal Khashoggi

    Business

    Pradhan said two state refineries have made nominations to purchase Iranian oil in November. "At this time , I urge President Trump and first lady Melania Trump to help shed light on Jamal's disappearance", she said. He was also a United States resident living in self-imposed exile in Washington. "We should be extending support from our federal agencies for a real investigation", Kaine tweeted.
  • Tropical Storm Michael Upgraded to Hurricane in Gulf of Mexico

    Tropical Storm Michael Upgraded to Hurricane in Gulf of Mexico

    Business

    As far as wind goes, we can plan on 15-25 miles per hour sustained winds, with gusts over 40 miles per hour at times. Scott already declared a state of emergency and has activated over 1,200 National Guard members. Storm surge is not much of a concern because forecasters expect the hurricane to move quickly across the state, Martin said. The storm is expected to bring life-threatening storm surge and heavy rain to there on Wednesday , and then it heads inland toward Georgia and the ...
  • International Monetary Fund downgrades SA's 2018 growth forecast to 0.8%

    International Monetary Fund downgrades SA's 2018 growth forecast to 0.8%

    Business

    The US simultaneously threatened to add tariffs to a further $267 billion (£205 billion) of products, which saw China retaliate with 10 percent tariffs on $60 billion (£46 billion) of US imports. It said, the prediction is lower due to recent increase in oil prices and the tightening of global financial conditions. Some energy-rich emerging market countries have fared better due to higher oil prices, with Saudi Arabia and Russian Federation seeing forecast upgrades.
  • Officials say stop forwarding Facebook message, it’s a hoax

    Officials say stop forwarding Facebook message, it’s a hoax

    Business

    There are numerous ways to ensure that your Facebook account is as protected as possible from potential being hacked. Your account isn't sending duplicate friend requests. But if you have received one, don't worry - it doesn't mean your account has been cloned and you don't need to share on the message to warn others.