• IEA cuts oil demand forecasts but sees prices staying high
IEA cuts oil demand forecasts but sees prices staying high

Figures released Thursday by the U.S. Energy Information Administration revealed crude inventories climbed by six million barrels in the week leading up to October 5, compared with analyst expectations for an increase of 2.6 million barrels.

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  • Facebook hack included search history, location data of millions
Facebook hack included search history, location data of millions

Attackers stole authentication tokens for these 30 million accounts, but they also stole additional data for 29 million, Facebook said . Rosen reiterates that people's accounts "have already been secured" by what Facebook did two weeks back when they prompted millions of users to reset the access tokens.

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  • More airlines opt for ultra-long-haul flights
More airlines opt for ultra-long-haul flights

Singapore Airlines launched the record-breaking route in 2004, but canceled it nine years later because of rising fuel prices. Airbus developed the latest model for extra-long flights. 'My cousin said 'hey, this is in the press.' I'm going to take pictures and show her, ' she said. But the carrier is hoping that the introduction of more fuel...

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  • Pakistan's currency plunges as it seeks International Monetary Fund loan
Pakistan's currency plunges as it seeks International Monetary Fund loan

In its latest "World Economic Outlook", (WEO) the IMF's has predicted that the global economy will grow by 3.7% in 2018, down from the 3.9% it predicted in April 2018. The IMF also took aim at Brexit in its assessment, as it warned how slow progress in thrashing out an European Union divorce deal for Britain is creating "pervasive uncertainty" abou...

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  • European Union says there has been ‘no breakthrough’ in Brexit talks
European Union says there has been ‘no breakthrough’ in Brexit talks

On Thursday morning, Mrs May's official spokesman told journalists that "big issues" still remained to be resolved between the United Kingdom and Brussels, which included the backstop and issues such as geographic indicators for goods. Instead, as Newsnight's Nick Watt reported last night, there's a new plan to insert a "review clause" for the ba...

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  • Will Washington loosen anti-Iranian sanctions?
Will Washington loosen anti-Iranian sanctions?

Iran is India's third-largest oil supplier behind Iraq and Saudi Arabia . Oil prices , which account for about 80 percent of Saudi public income, have increased by more than 70 percent since June a year ago to over $80 a barrel. "We continue to have conversations with the government of Iraq about that particular issue and the implications fo...

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  • Rupee plunges to fresh record low of 73.77 against dollar
Rupee plunges to fresh record low of 73.77 against dollar

The dollar rose to near 1-month highs against global currencies. There is anticipation that the RBI will further raise key lending rates by 25 basis points to arrest the rupee's slide. The 10-year gilt yield stood at 8.061%, down from its previous close of 8.157%. Mr Khoon Goh, head of Asia research at ANZ Banking Group in Singapore, said the m...

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  • As 10 States Follow Centre In Slashing Fuel Prices, Kerala Refuses
As 10 States Follow Centre In Slashing Fuel Prices, Kerala Refuses

In the announcement, Jaitley has also asked state governments to announce a matching reduction in duties and taxes levied by the state, which could see the prices decrease even further. The Government will request state governments to cut down, he said. Brent oil on Wednesday crossed $86 per barrel, which is the highest in the last four years, ...

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  • Oil near 4-yr high as Washington's Iran sanctions loom
Oil near 4-yr high as Washington's Iran sanctions loom

Global benchmark Brent crude oil futures were at $85.03 per barrel at 0439 GMT, up 5 cents from their last close, and not far off the $85.45 peak reached in the previous session, the highest since November 2014. -Mexico-Canada Agreement is also improving the overall sentiment for oil". Iran's production will fall further after the Nov 4 U.S...

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  • Amazon raising minimum wage to $15 for all US employees
Amazon raising minimum wage to $15 for all US employees

Amazon said 17,000 British employees would benefit from the rises, as well as 250,000 USA workers. Amazon, which just became the second company to have a $1 trillion market cap, said it plans to push the federal government to increase the minimum wage.

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  • Elon Musk Reportedly Says Tesla Is Close to Achieving Profitability
Elon Musk Reportedly Says Tesla Is Close to Achieving Profitability

An army of Tesla-owning volunteers swooped in over the weekend to help deliver cars to new buyers while Musk cheered on his employees, telling them in emails to "ignore all distractions" and that they were on the cusp of "an epic victory beyond all expectations".

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  • Tesla shares jump on Model 3 numbers, Musk settlement
Tesla shares jump on Model 3 numbers, Musk settlement

Coming under pressure from his lawyers and investors of Tesla , tech billionaire Elon Musk has agreed to step down as chairman of the company for three years and pay a $20 million fine in a deal with the USA stock market regulatory authority, Securities and Exchange Commission (SEC ), to resolve securities fraud charges.

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  • Tweet storm: Musk quits as chairman over false claims
Tweet storm: Musk quits as chairman over false claims

Coming under pressure from his lawyers and investors of Tesla , tech billionaire Elon Musk has agreed to step down as chairman of the company for three years and pay a $20 million fine in a deal with the U.S. "The standard of proof for any potential criminal charge is higher than that of a civil case, which the SEC had", said Jay Dubow, a ...

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  • OPEC, Russia rebuff Trump's call for immediate boost to oil output
OPEC, Russia rebuff Trump's call for immediate boost to oil output

This comes after the US Congress has reconsidered legislation aimed at preventing OPEC from manipulating oil prices . "We're on the verge of some significant volatility in Q4 2018 because depending on the severity and duration of the Iranian sanctions, the market simply does not have an adequate supply response for a 2 million barrel a day dis...

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  • Pompeo confident USA will win China trade war
Pompeo confident USA will win China trade war

The response, which came just over an hour after the USA imposed new duties on US$200 billion in Chinese goods on Monday, underscores a deepening gulf between both governments in a dispute that observers say is less about a row over a bilateral goods deficit and increasingly about a USA desire to put the brakes on China's economic ascent.

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  • Jet Airways Flight with bleeding passengers returns to Mumbai
Jet Airways Flight with bleeding passengers returns to Mumbai

Jet Airways also released a statement following the incident, saying it is "extending full cooperation to the DGCA for the ongoing investigation of the event". He complained that the safety of passengers was being ignored. Pictures of bleeding passengers have caught ire on social media. "When the aircrafts announce to a safer level like below 10,...

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  • 'Crucial period' for oil as Iran exports shrink: IEA
'Crucial period' for oil as Iran exports shrink: IEA

U.S. West Texas Intermediate (WTI) crude CLc1 futures rose $1.12 to settle at $70.37 a barrel, a one-week high. In New York last night the price was $78.43, up 1 per cent so far this month. Oil prices rose on Tuesday as the U.S. Energy Information Administration (EIA) lifted oil-price forecasts and lowered U.S. crude output expectations.

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  • How does merging bad banks with good ones help?
How does merging bad banks with good ones help?

Rajeev Kumar, financial services secretary, said the merger plan was part of the effort to clean up the country's banking system. The plan to merge the three banks was taken by a ministerial panel, led by Finance Minister Arun Jaitley Monday.

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  • Coca-Cola reportedly considering cannabis-infused drinks
Coca-Cola reportedly considering cannabis-infused drinks

Coke and Aurora would likely develop beverages that will ease inflammation, pain and cramping, a Bloomberg report said, citing sources familiar with the matter. Another company, Constellation Brands (which makes Corona beer and Svedka vodka) announced in August it is investing $4 billion in Canadian cannabis company Canopy Growth.

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  • Trump imposes tariffs on $200 billion Chinese goods, spares some consumer products
Trump imposes tariffs on $200 billion Chinese goods, spares some consumer products

But it is unclear whether Beijing will agree to come to Washington with the new tariffs set to go into effect. China had issued a list of another $60 billion of USA goods for retaliation if the US proceeds with more tariffs. "Tariffs have put the U.S. in a very strong bargaining position, with Billions of Dollars, and Jobs, flowing into our...

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  • Oil Prices Rise On Supply Worries
Oil Prices Rise On Supply Worries

He said efforts by US President Donald Trump to remove Iran from the oil market through sanctions had allowed Russian Federation and Saudi Arabia to take OPEC as a hostage. Organization of the Petroleum Exporting Countries (OPEC) monthly report released on Thursday showed Iran's oil production fell by 150,000 bpd in August, despite OPE...

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  • Canada's Freeland to hold NAFTA talks on Tuesday as time runs short
Canada's Freeland to hold NAFTA talks on Tuesday as time runs short

Freeland said she spoke with U.S. Trade Representative Robert Lighthizer over the weekend after their talks ended on Friday, and their teams have had "a lot of contact" since then. -Mexico pact or suffer the consequences of punishing American tariffs on the auto sector. Craft, a fixture at the NAFTA talks last week, was in Gander, N.L., to comm...

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  • Apple working on most demanded feature in Apple Watch
Apple working on most demanded feature in Apple Watch

Kuo expects both Apple Watch models to have a display that's about 15 percent larger than previous editions of the device. Fans who want to be able to watch the exclusive invite-only event by Apple through the internet can follow the guide put up by MacWorld.

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  • Fuel price hike: Bring petrol under GST to arrest surge, say experts
Fuel price hike: Bring petrol under GST to arrest surge, say experts

Mumbai has the highest Value-Added Tax of 39.12 per cent on petrol, while Telangana levies the highest Value-Added Tax of 26 per cent on diesel. Senior party leader Dilip Pandey said unrest against Narendra Modi-led government is growing and the opposition can not remain silent to the plight of common man affected by issues like fuel price hike...

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  • Pence calls Obama's criticism of Trump 'very disappointing'
Pence calls Obama's criticism of Trump 'very disappointing'

The event officially ended Obama's absence from the campaign trail, a months-long void that has angered some Democrats who believe he is not engaging in a political fight where he could be helpful. Obama was "a lot lower key than yesterday's speech". "Doubling down on that strategy won't work in 2018 either", he said. Next week, Obama plans to ca...

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  • Trump ready to set tariffs on all goods from China
Trump ready to set tariffs on all goods from China

At the same time, Apple is already using components sourced from USA manufacturers in some of its products. As trade relations between the two countries continue to get strained, Apple said in a letter to the United States trade representative that the move would "hurt" the company, according to CNBC report.

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  • British Airways probes customer data theft
British Airways probes customer data theft

British Airways CEO Alex Cruz says the carrier will reimburse any customer who loses money due to the data breach. IT security company Avast said that based on the limited information available the attackers had probably targeted a gateway between the airline and a payment processor because no travel details had been stolen.

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  • India allows state refiners to use Iran tankers, insurance for oil imports
India allows state refiners to use Iran tankers, insurance for oil imports

At 10:30 am Singapore time (0230 GMT), ICE November Brent crude futures were down a marginal 3 cents/b (0.04%) from Monday's settle at $78.12/b, while the NYMEX October light sweet crude contract was 26 cents/b (0.37%) higher than Friday's settle at $70.06/b.

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  • Trump says
Trump says "no political necessity" to keep Canada in new NAFTA deal

Quebec Premier Philippe Couillard was more blunt, telling reporters that Trump is not a friend to Canada . Canada is the No. 1 destination for American products shipped overseas, and more than 8 million U.S.jobs are supported by trade with Canada, according to the U.S.

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  • Buhari, AU chair, others for China-Africa Summit
Buhari, AU chair, others for China-Africa Summit

The package includes $20 billion of credit lines, $15 billion of grants, interest-free loans and concessional loans, $10 billion for a special fund and $5 billion fund to finance imports from Africa. On green development, Xi said China will undertake 50 aid projects on green development, and ecological and environmental protection, with a focus on ...

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  • Larry Kudlow: Canada must 'compromise' to get new NAFTA deal
Larry Kudlow: Canada must 'compromise' to get new NAFTA deal

New vehicle prices are going to rise for additional reasons as well, Krebs noted, such as costs related to aluminum and steel tariffs they've absorbed. The President said he had spoken to Justin Trudeau on the phone, insisting that "He called me, I didn't call him". "This is a very, very intense set of conversations and I continue to feel that...

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  • Toyota will reportedly invest $500 million in Uber
Toyota will reportedly invest $500 million in Uber

The logo of Uber is pictured during the presentation of their new security measures in Mexico City, Mexico April 10, 2018. Automakers and tech companies continue scrambling to position themselves for a future in which vehicle ownership gives way to mobility as a service.

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  • U.S., Mexico reach NAFTA deal; talks with Canada to start immediately
U.S., Mexico reach NAFTA deal; talks with Canada to start immediately

Canadian Prime Minister Justin Trudeau stressed in a phone call with Trump that the aim is to reach a new NAFTA deal. "With Canada , we will start negotiations shortly". "More broadly, we hope that an agreement on Nafta signals a redirection of USA trade policy - away from confrontation and toward cooperative efforts to open markets over...

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  • President Trump Announces Renaming, Overhaul to NAFTA in 'Fairer' Deal with Mexico
President Trump Announces Renaming, Overhaul to NAFTA in 'Fairer' Deal with Mexico

During a last-minute meeting at the Oval Office, President Trump spoke to Peña Nieto by phone. U.S. President Donald Trump hailed the agreement as "an incredible deal for the workers and for the citizens of both countries". "The leaders welcomed the progress that has been made in discussions with Mexico and look forward to having their team...

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  • Trump suggests United States close to 'big' trade agreement with Mexico
Trump suggests United States close to 'big' trade agreement with Mexico

The U.S. and Mexico in recent weeks had largely focused on auto manufacturing, as the Trump administration pushes for a deal aimed at boosting factory jobs in the United States. S. talks have been complicated by divisions between the incoming and outgoing Mexican administrations over energy policy. Both Mexican and Canadian officials have also ba...

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