Economy

Norway's $1 trillion oil fund may turn its back on oil

Norway's $1 trillion oil fund may turn its back on oil

It said the step would make the country "less vulnerable to a permanent drop in oil and gas prices", and its advice was not based on a price forecast or the sector's sustainability. In September, the fund value reached $1 trillion for the first time after being boosted as the world's major currencies strengthened against the US dollar, combined with strong equity markets. Read More

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Facebook's Q3 Beats Expectations but Focus on Security Will Impact Future Results

Facebook's Q3 Beats Expectations but Focus on Security Will Impact Future Results

Facebook Inc (FB) now boasts of over 2 billion monthly users, an increase from 1.7 billion a year ago. Third-quarter ad revenue rose 49% to $10.1 billion, beating the consensus of $9.71 billion. Facebook's advertising policies, however, have been under constant fire over the past few months after the revelation of Russian sponsored ads to induce differences between Americans during the Presidential elections. Read More

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United Kingdom interest rates set to rise as inflation hits 3 percent

United Kingdom interest rates set to rise as inflation hits 3 percent

The increase, which took the rate to its highest since March 2012's 3.5 percent, was anticipated in financial markets and largely due to rising prices for food and transport. The 15% or so drop in the pound against a range of currencies has ratcheted up the cost of imported goods such as food and energy. However, the British pound remained lower against the dollar despite confirmation of Carney's view on inflation. Read More

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Sabarimala temple: SC to pronounce order on ban on women's entry

Sabarimala temple: SC to pronounce order on ban on women's entry

According to them, banning the entry of women would be against the basic tenets of Hinduism. They framed several questions to be dealt with by the Constitution Bench, including whether the temple can restrict women's entry. This is the main reason for the dispute as women activists have questioned this as a clear practice of gender discrimination. As was usual for Buddhist monasteries in the middle ages, women were not allowed admission to a place inhabited exclusively by celibate monks. Read More

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Bank of America Profit Climbs, Driven by Higher Interests Rates

Bank of America Profit Climbs, Driven by Higher Interests Rates

The stock of Bank of America Corp (NYSE: BAC ) has "Market Perform" rating given on Monday, May 16 by Keefe Bruyette & Woods. Quarterly profit at the second-largest USA bank by assets rose 13% from $4.96 billion a year earlier. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and worldwide copyright & trademark laws. Read More

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Financial Watchlist of Fitbit, Inc. (NYSE:FIT)

Financial Watchlist of Fitbit, Inc. (NYSE:FIT)

Fitbit Inc . ( FIT)'s RSI (Relative strength index) is at 52.54, its ATR (Average True Range) value is 0.28, while its Beta factor was calculated at 0. Fitbit, Inc. (FIT ) has earnings decline of -162.30% yoy. The scientific and technical instruments company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of ($0.15) by $0.07. Read More

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Large Internet-Beaming Balloons Might Be Headed To Puerto Rico

Large Internet-Beaming Balloons Might Be Headed To Puerto Rico

The FCC has given Google permission to deploy its Project Loon balloons over Puerto Rico . With Puerto Rico still reeling from Hurricane Maria , the tech community continues to find ways to help. As most of the smartphones are not capable of transcoding Band 8 LTE signals, the OEMs are necessarily required to push an OTA update for every smartphone in Puerto Rico. Read More

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FedEx and UPS dip after report on Amazon's delivery concept

FedEx and UPS dip after report on Amazon's delivery concept

The new program, reportedly called Seller Flex, began testing in India and has now begun on the West coast, the news organization reported, with Amazon letting more merchants know in advance of a broader rollout. And they will still need FedEx and UPS to deliver for them. Shares at Amazon have outperformed the delivery companies thus far in 2017, as the giant of e-commerce is up by 29% through the first nine months, while UPS is up 4% and FedEx up 19%. Read More

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Twitter Slams Trump Over Comments On San Juan Mayor's 'Poor Leadership'

Twitter Slams Trump Over Comments On San Juan Mayor's 'Poor Leadership'

President Donald Trump is defending his response to Puerto Rico's hurricane destruction and says "big decisions" are coming on the cost of rebuilding the island. Trump rebuked her , saying Puerto Ricans wanted everything done for them, and that Cruz showed "poor leadership ability". Almost half of the supermarkets have reopened, albeit with reduced hours, and about 60 percent of the gas stations have begun pumping, many protected by armed private security guards. Read More

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Quake near North Korea nuclear test site 'occurred naturally'

Tensions between the United States and North Korea have ratcheted up after Pyongyang conducted its sixth and most powerful nuclear test September 3, prompting the United Nations to impose even tougher sanctions last week. military drills in the region, which has been ignored. While the cause remains unknown, alternative explanations suggested by North Korea analysts include tunnel collapses at the testing site. Read More

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Crude prices rise on signs of drop in global inventories

Crude prices rise on signs of drop in global inventories

Futures jumped as much as 2.4% in NY. Oil was up Wednesday ahead of USA production and stockpile data, after Iraq hinted at a possible extension of the current OPEC and non-OPEC production deal. November WTI Crude Oil settled at settled at $50.28, down $0.07 or -0.14% and December Brent Crude oil closed at $55.15, down $0.10 or -0.18%. Brent for November settlement advanced $US1.15 to end the session at $US56.29 a barrel on the London-based ICE Futures Europe exchange, the highest level ... Read More

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Toys

Toys "R" Us files for bankruptcy protection due to debt, relentless competition

Merchandise is sold in 885 Toys " R " Us and Babies " R " Us stores in the United States, Puerto Rico and Guam, and in more than 810 worldwide stores and over 255 licensed stores in 38 countries and jurisdictions. Similarly, KB Toys perished, and Toys "R" Us will likely limp along. Other signature elements of the Mastermind Toys shopping experience include knowledgeable staff; free in-store gift-wrapping; compelling promotions; and valuable social enterprise partnerships with organizations ... Read More

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CCleaner compromised by malware infection

CCleaner compromised by malware infection

Researchers at Talos , Cisco's threat intelligence team, said they discovered the malware after observing that data from CCleaner was being sent to an unknown IP address. "W$3 ith supply chain attacks, the attackers are relying on the trust relationship between a manufacturer or supplier and a customer", the Talos researchers noted. Read More

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Rohingya Muslims flee Myanmar amidst violence

Rohingya Muslims flee Myanmar amidst violence

The government has said that 176 out of 471, or 37.4 percent of all Rohingya villages were now empty of people, and an additional 34 villages were "partially abandoned". The group quoted Rohingya witnesses who described security officers and vigilantes using petrol or shoulder-fired rocket launchers to set homes alight, before firing on villagers as they fled. Read More

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Equifax's insurance is said likely inadequate against breach

Equifax's insurance is said likely inadequate against breach

Below are four steps to take following Equifax's data breach . The company discovered the hack on July 29 and publicly announced it more than a month later on Thursday. Several politicians and consumer groups have criticized this provision. Equifax released a statement on their website . There was a catch: the supposedly free service required credit card information up front and would begin charging the card after the free trial ended unless users proactively canceled, ... Read More

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Were Analysts Bullish Pennon Group plc (LON:PNN) This Week?

Were Analysts Bullish Pennon Group plc (LON:PNN) This Week?

RBC Capital Markets maintained RSA Insurance Group plc (LON:RSA) on Tuesday, July 28 with "Sector Perform" rating. Natixis maintained it with "Buy" rating and GBX 1660 target in Tuesday, October 27 report. Bancorp had 60 analyst reports since August 6, 2015 according to SRatingsIntel. Panmure Gordon maintained RPC Group PLC (LON:RPC) on Friday, September 18 with "Buy" rating. Read More

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