• Crypto exchange can't repay customers due to sudden death of founder
Crypto exchange can't repay customers due to sudden death of founder

The company's stance has gone from "Quadriga's inventory of cryptocurrency has become unavailable and some of it may be lost" to "most, if not all" of their customers will suffer damages. Based on company records, she said the cold wallet stored $180 million in Canadian dollars ($137 million in U.S. dollars), all of which is now inaccessible to ...

Read more

  • Facebook shares surge as sales profit beat Wall Street estimates
Facebook shares surge as sales profit beat Wall Street estimates

As a group, equities research analysts predict that Facebook , Inc. will post 7.33 earnings per share for the current year. This was a much-needed boost for Facebook's stock which fell by 34 percent since the company's earnings call in July in which it predicted slow revenue growth and an increase in expenses due to its investment in securit...

Read more

  • USA employment up and wages down in latest employment report
USA employment up and wages down in latest employment report

The U.S. Labor Department reports that non-farm payrolls surged by 304,000 last month. In retail trade, employment ticked higher by 21,000, with growth in sporting goods as well as miscellaneous store and non-store retailers. Nevertheless, the final January data should continue to reflect a healthy labor market. The nonpartisan Congressiona...

Read more

  • Amazon profit jumps while shares slip
Amazon profit jumps while shares slip

Shares of the company fell 5 percent to $1,635 after the bell. Net sales for the fourth quarter rose 19.7 per cent to US$72.38 billion and beat the analyst average estimate of US$71.87 billion on the back of a strong holiday season. "Alexa was very busy during her holiday season". Additionally, the company's net income increased to $3.0 billion...

Read more

  • VP Mike Pence calls for end to Maduro government in Venezuela
VP Mike Pence calls for end to Maduro government in Venezuela

As Rubio notes, Guaido's 20-month-old daughter and grandmother were there when the troops arrived . The bloc has agreed to lead an global crisis group of 10 to 12 countries and is expected to hold its first meeting next week in Montevideo, the diplomats said .

Read more

  • Oil down again on worry over USA crude stockpile situation
Oil down again on worry over USA crude stockpile situation

Oil prices edged up on Friday as turmoil in Venezuela increased the chances of tighter global supply if the USA makes good on signals that it could impose sanctions on Venezuelan exports. U.S. President Donald Trump was said to be considering new sanctions against Venezuela as Maduro faces one of the toughest challenges to his reign.

Read more

  • United States and China launch trade talks amid differences over economic reforms
United States and China launch trade talks amid differences over economic reforms

A Chinese delegation led by Vice Premier Liu He is in Washington this week for two days of talks, following on from the previous round of negotiations earlier this month. China has retaliated with tariffs of its own, but has suspended some and is allowing some purchases of US soybeans during the talks. And he has emerged as the United States stro...

Read more

  • DOJ charges Chinese tech giant Huawei, top executive with fraud
DOJ charges Chinese tech giant Huawei, top executive with fraud

Part of the charges stems from a civil suit between Huawei and T-mobile in which the USA carrier accused the Chinse firm of stealing its intellectual properties. Today's indictments come following reports that federal prosecutors had been investigating Huawei on allegations of trade secret theft from American companies.

Read more

  • Report estimates shutdown cost economy $11 billion, $3 billion won't be recovered
Report estimates shutdown cost economy $11 billion, $3 billion won't be recovered

According to the CBO's report , the economy lost $11 billion during the shutdown, which began just before Christmas, but will gain back $8 billion now that the government has reopened. Trump said he would be willing to shut down the government again if lawmakers don't reach an acceptable deal, but on Sunday expressed skepticism that such an agreem...

Read more

  • Australia recognises Venezuelan Opposition Leader Juan Guaido as interim president
Australia recognises Venezuelan Opposition Leader Juan Guaido as interim president

He contends that Maduro's re-election to a second six-year term was fraudulent. Pompeo urged countries to help isolate the Maduro regime economically, saying they should "assure that they disconnect their financial system from the Maduro regime".

Read more

  • Vodafone 'pauses' use of Huawei equipment over security concerns
Vodafone 'pauses' use of Huawei equipment over security concerns

Mr Yu said the allegations against the company have had little influence on its business because Huawei's products and reputation speak for themselves. "Huawei is focused on supporting Vodafone's 5G network rollouts, of which the core is a small proportion". "Our customers have trust and confidence in us", Richard Yu, Huawei's consumer division...

Read more

  • International Monetary Fund foresees global slowdown as US-China trade spat drags on
International Monetary Fund foresees global slowdown as US-China trade spat drags on

The IMF is predicting Britain will outpace Germany this year, with the economic outlook for the United Kingdom remaining untouched at 1.5 percent growth in its latest forecast . Hours after the International Monetary Fund cut its forecasts for the world economy this year and next, PricewaterhouseCoopers LLP released a survey showing 30 per cen...

Read more

  • China: Better December growth despite a slower Q4 - Standard Chartered
China: Better December growth despite a slower Q4 - Standard Chartered

Expert predicts that China's GDP will grow at 6.4 percent in 2019, higher than the IMF's estimate of 6.2 percent, as the world's second-largest economy is grappling with the challenges of a slower growth and damaging trade war. China isn't set to come to the rescue of a weakening world economy even amid signs policy makers are successfully cushioni...

Read more

  • No-deal Brexit and Chinese slump are biggest economic risks
No-deal Brexit and Chinese slump are biggest economic risks

The Washington-based lender held its 2019 growth forecast at 1.5 per cent, saying the fiscal stimulus announced in the October 29 budget would likely help offset the dampening effect which Brexit fears are having on the world's fifth-biggest economy.

Read more

  • Netflix shows Bird Box and Elite drive subscriber growth
Netflix shows Bird Box and Elite drive subscriber growth

The price hikes affect all new subscribers immediately, as you can see on the Netflix signup page , but current subscribers will begin to see the new prices reflected in their bills over the next three months. This number is down from 3.33 million previous year. Netflix's original series and films, including post-apocalyptic thriller Bird B...

Read more

  • Oil slips on near-record United States production, demand fears
Oil slips on near-record United States production, demand fears

Other oil-market news: OPEC compliance with crude-oil output cuts rose to 163 percent in December, according to Bloomberg calculations from the group's secondary-source data . That said, it's undeniable that crude's performance so far in 2019 is a far cry from the steep price plunges experienced in the closing months of 2018, a point not lost ...

Read more

  • Trump offers protection for immigrants in United States in exchange for wall funds
Trump offers protection for immigrants in United States in exchange for wall funds

Trump declared from the White House that "both sides in Washington must simply come together", adding that he was there "to break the logjam and provide Congress with a path forward to end the government shutdown and solve the crisis on the southern border".

Read more

  • Business leaders call for second Brexit referendum
Business leaders call for second Brexit referendum

But he repeated his own condition for talks: a pledge to block a no-deal Brexit. British Prime Minister Theresa May scrambled to put together a new Brexit strategy after MPs rejected her European Union divorce deal, and insisted she could not rule out a potentially damaging "no-deal" split.

Read more

  • Cadillac shocks Detroit Auto Show with electric SUV preview
Cadillac shocks Detroit Auto Show with electric SUV preview

The EV is still nameless though GM says it is the first vehicle with the automaker's future EV platform. While Cadillac does not now sell cars in Australia - or build cars in right-hand-drive - the brand's models could feature in future Holden showrooms in a similar capacity to converted Chevrolet Camaro and Silverado vehicles.

Read more

  • Pelosi asks Trump to move State of the Union address
Pelosi asks Trump to move State of the Union address

The White House has delivered several offers to Pelosi and Senate Minority Leader Chuck Schumer to end the shutdown , but they have been rebuffed at every turn. The shutdown is bringing an outpouring of generosity to TSA agents and other federal employees who are working without pay. House Democrats refused to participate in a Tuesday afte...

Read more

  • UK PM May seeks to end Brexit stalemate after winning confidence vote
UK PM May seeks to end Brexit stalemate after winning confidence vote

The prime minister is expected to hold meetings with both Tory Brexiteers and the DUP - both of which rejected her withdrawal deal earlier this week - on Thursday. May also reiterated a promise to return to the Commons on Monday to give MPs another vote on her plans. And the Telegraph reported it had seen a leaked transcript of a conference call ...

Read more

  • Alexandria Ocasio-Cortez to join House Financial Services Committee
Alexandria Ocasio-Cortez to join House Financial Services Committee

AOC also remarked on the intense scrutiny she receives, telling the Post it's "physically exhausting". It is exceedingly rare for first-year members of Congress to be placed on House committees as powerful as the Financial Services Committee.

Read more

  • USA backs Canada as China questions motivations in Schellenberg case
USA backs Canada as China questions motivations in Schellenberg case

Freeland also listed a number of allies Canada has called upon to speak out against Schellenberg's death sentence and to support its effort to free Michael Kovrig and Michael Spavor, two Canadians imprisoned in China last month. China has continued to demand Meng's release, as its state media threatened consequences for Canada. China regularly ...

Read more

  • Rapper Quavo invites Clemson Tigers to celebrate CFP title
Rapper Quavo invites Clemson Tigers to celebrate CFP title

Appearing on Fox News on Wednesday, the press secretary said Pelosi needs to get "serious" about her leadership role as newly-elected speaker and work with the president to end the government shutdown . Colbert also suggested for Trump's next distraction stunt he was going to flip over the Liberty Bell and use it as a massive KFC bucket. Trump h...

Read more

  • Passenger carries firearm through TSA screening at Atlanta onto Delta flight
Passenger carries firearm through TSA screening at Atlanta onto Delta flight

The absence rate at TSA on Monday is 7.6 percent, up from 3.2 percent on the same day past year, according to TSA spokesperson Michael Bilello. More than twice as many TSA agents called out sick on Monday compared to a year ago, according to the TSA.

Read more

  • Chinese iPhone sellers reportedly cut prices following sales warning
Chinese iPhone sellers reportedly cut prices following sales warning

WSJ does state that Apple is too deep into the product planning for this year's phones , so the company isn't changing major features like the display on the iPhone XR yet. Will the new iPhones be a worthwhile upgrade? Suning will start selling the 64GB iPhone XR for 5,699 yuan (around $845/£660/AU$1,170), while it remains 6,499 yuan ($9...

Read more

  • Jaguar Land Rover 'to cut 5000 jobs' as losses continue
Jaguar Land Rover 'to cut 5000 jobs' as losses continue

Combined with a continued slump in saloon sales - which has seen the dynamically excellent XE and XF particularly hard done by versus their German rivals - this has spelled trouble for the British brand. Industry insiders have called the plans a "perfect storm". Des Quinn, a Unite national officer, said: "Britain's vehicle workers have been caugh...

Read more

  • China lodges 'stern' protest over USA warship sailing through South China Sea
China lodges 'stern' protest over USA warship sailing through South China Sea

Pacific Fleet said was an operation to "to challenge excessive maritime claims". China has made "stern representations" to the U.S. after an American destroyer sailed through waters claimed by Beijing in the disputed South China Sea. During that 90-day period, agreements "may not be reached until the last day", said Tu Xinquan, director of the ...

Read more

  • London Heathrow airport: Drone spotted as flights grounded
London Heathrow airport: Drone spotted as flights grounded

The west London hub apologised for any disruption caused to passengers after flights were suspended for around an hour on Tuesday. Passengers are taking to social media to report that they are stuck on the tarmac at Heathrow this evening because of the incident.

Read more

  • China to Cut Reserve Requirement Ratio by 100 Basis Points
China to Cut Reserve Requirement Ratio by 100 Basis Points

China's central bank said on Friday it was cutting the amount of cash that banks must hold as reserves for the fifth time in the past year - freeing up US$116 billion for new lending as it tries to reduce the risk of a sharper economic slowdown.

Read more

  • Wall Street rallies on Powell comments, jobs report
Wall Street rallies on Powell comments, jobs report

Speaking at the American Economic Association's annual meeting, Powell waved off criticisms from the Oval Office, such as when Trump said he was " not even a little bit happy " with Powell's performance, saying he had not received any direct communication from the White House about the Fed's actions, including recent rate hikes .

Read more

  • Trump says he threatened to keep U.S. government closed for years
Trump says he threatened to keep U.S. government closed for years

Mr Trump says the wall is crucial to curbing irregular immigration. "He resisted", Schumer said. Mr Schumer said that if McConnell and Senate Republicans stay on the sidelines, "Trump can keep the government shut down for a long time". Pelosi's office confirmed Trump did bring up the topic - during his opening statement to Republican and Democrat...

Read more

  • Cathay Pacific To Honor Fares After Mistake
Cathay Pacific To Honor Fares After Mistake

Singapore Airlines Ltd.in 2014 and Hong Kong Airlines Ltd. past year honored business-class tickets mistakenly sold at economy fares. Here's hoping for another "surprise" special for the rest of us. It is not clear how many seats were sold at the error price, and Cathay Pacific did not respond to i's request for comment. Neither carrier discl...

Read more

  • Tesla Sinks as Price Cuts Signal a Ceiling for Costlier Models
Tesla Sinks as Price Cuts Signal a Ceiling for Costlier Models

On Jan. 1 the federal credit for Tesla buyers dropped from $7,500 to $3,750. Tesla will try to disguise the price cuts with the disappearing tax credit or discounts for buyers who refer other customers to Tesla, Ramsey said. Tesla stock ( NASDAQ:TSLA ) has fallen more than 7% on Thursday's trading, partly due to the company's 63,150 Model 3 deli...

Read more

  • Prices rise as the minimum wage increases in several states
Prices rise as the minimum wage increases in several states

Up until a few decades ago, many economists anxious that raising the minimum wage would lead to employers hiring fewer workers. Some cities in California, Santa Fe in New Mexico, and the whole state of Nevada, are planning minimum wage increases on July 1.

Read more