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The source for business news and analysis. The source for business news and analysis. Covering economic policy, business policy, financial news, economic issues, stock market data, local business, technology and more. Our chat: @news_finance_chat


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Latest publications

277

​​"All the adversity I've had in my life, all my troubles and obstacles, have strengthened me... You may not realize it when it happens, but a kick in the teeth may be the best thing in the world for you."

💬 Walt Disney

Briefly about the main events of the day

🔴 In planning for next U.S. recession, economists say, don't fret about debt.

🔴 World Bank slashes India's growth forecast to 6% for this fiscal year.

🔴 UAW boosts strike pay as GM walkout continues.

🔴 Volkswagen mulling sale or stock listing for Lamborghini.

🔴 GM appeals directly to employees as strike losses mount, riling UAW.

🔴 Russia says exploring settlement in euros, roubles for energy exports.

🔴 Thomas Cook failure spurs UK to act on airlifting tourists home.


20:08 13.10.19
1033

​​Blizzard said it will return prize money to Hong Kong esports player

Video game company Blizzard Entertainment walked back some penalties on an esports player who aired support for the Hong Kong protests after gamers around the world called for a boycott of the company.
Blizzard explained Friday that it disqualified Hearthstone player Ng "Blitzchung" Wai Chung for shouting the protest slogan "Liberate Hong Kong, revolution of our times" because it was a violation of rules that he had acknowledged. Anything that brings a player into "public disrepute," offends the public, or damages Blizzard's image would lead to a ban and loss of prize money, according to the competition rules.


14:02 13.10.19
1347

​​How much energy would it take to travel through time?

Time travel has always fascinated mankind, but a Star Trek kind of warp drive has till now been impossible to build. This hasn’t discouraged scientists to continue researching it.
Scientists have long debated the practicality of warp drive—or traveling faster than the speed of light. While some argue that the entire concept defies the laws of physics as we know it, others continue to press on in their effort to prove that warp drive could one day be a reality, sparking an era in which we would finally become a true space-voyaging species.


08:08 13.10.19
1647

​​"All truth passes through three stages: First, it is ridiculed; Second, it is violently opposed; Third, it is accepted as self-evident."

💬 Arthur Schopenhauer

Briefly about the main events of the day

🔴 Turnaround specialist behind Noble Group's rescue replaced as chairman.

🔴 Nyrstar shareholders to sue commodities trader Trafigura for $1.6 billion.

🔴 Exclusive: Sempra nears $3 billion Chile sale to China's State Grid.

🔴 Facebook's Libra currency abandoned by major financial companies.

🔴 Mexican motor city 'getting desperate' as GM's U.S. strike takes heavy toll.

🔴 Uber to buy Chile's Cornershop as it sets sights on delivering groceries.

🔴 OxyContin maker Purdue gets brief shield from litigation.


20:08 12.10.19
1715

​​Oil prices surge after Iran says missiles struck its tanker near Saudi Arabia

The price of crude oil rose sharply on Friday morning after Iranian officials said that two rockets had struck an Iranian tanker traveling through the Red Sea.
International benchmark Brent rose over two percent to $60.34 per barrel by 7:30am GMT. US West Texas Intermediate (WTI) gained almost two percent to $54.60 per barrel.
“Spare capacity remains fragile and with supply chain vulnerability a worrying concern at virtually every Middle East oil field, traders continue to hedge supply risk premium,” Stephen Innes, Asia Pacific market strategist at AxiTrader, told Reuters.


14:02 12.10.19
1832

​​Daimler to recall hundreds of thousands of additional cars as part of ‘Dieselgate’ scandal

German carmaker Daimler said it will recall “a medium six-figure” number of diesel engines that fail to meet the EU’s emission standards after a ruling by German road traffic regulator.
A probe by the federal authority for roads, Kraftfahrt-Bundesamt (KBA), determined that so-called OM 651 diesel engines do not meet Euro 5 emission standards, and that illegal software was used to cover up the deficiency.
Among the new recalls are some 260,000 Mercedes-Benz Sprinter light commercial vans, which went out of production before June 2016.


08:08 12.10.19
1920

​​«The most important thing to do if you find yourself in a hole is to stop digging.»

💬 Warren Buffett

Briefly about the main events of the day

🔴 Uber faces UK tax challenge.

🔴 BP warns of third-quarter charges as it spurs $10 billion divestment target.

🔴 ECB has one year of German debt to buy before limits.

🔴 OxyContin maker Purdue begins showdown to halt opioid lawsuits.

🔴 Toyota unveils revamped hydrogen sedan to take on Tesla.

🔴 Goldman, JPM hired to advise in Commerzbank sale of Polish mBank.

🔴 Exclusive: India may restrict imports of palm oil, other goods from Malaysia.


20:08 11.10.19