• China Scraps U.S. Farm Tour, Stoking Pessimism on Trade Deal
    Bloomberg

    China Scraps U.S. Farm Tour, Stoking Pessimism on Trade Deal

    (Bloomberg) -- A Chinese trade delegation canceled a planned visit to farms in the U.S. heartland, driving down stock indexes as investors turned pessimistic on progress toward resolving the two nations’ trade war.The cancellation came only about an hour after President Donald Trump said he wasn’t interested

  • Blackstone REIT’s Success Lures Global Funds to India
    Bloomberg

    Blackstone REIT’s Success Lures Global Funds to India

    (Bloomberg) -- Blackstone-backed real estate investment trust’s successful India trading debut has left global funds including Japan’s NikkoAM-StraitsTrading Asia wanting a piece of the action.Eastspring Investments, North Carolina Fund, and Sentry Global are among names looking to invest in the instrument

  • In Strike at GM, Old Grievances Get Retooled for a New Era
    Bloomberg

    In Strike at GM, Old Grievances Get Retooled for a New Era

    (Bloomberg) -- As the United Auto Workers strike against General Motors Co. nears a second week, the issues in dispute are similar to those that sparked strikes in the past: health care, wages and the company’s commitment to invest in U.S. facilities. The conflicts stretch all the way back to Dec. 30

  • Fed’s Plan to Tackle Funding Crunch Faces Test in Auction Slate
    Bloomberg

    Fed’s Plan to Tackle Funding Crunch Faces Test in Auction Slate

    (Bloomberg) -- The Treasury’s next round of auctions starting Monday is set to serve as the first test of whether the Federal Reserve’s steps to tackle the funding crunch have been sufficient.After a tumultuous few days in which funding costs spiked to record levels, calm returned to this vital corner

  • Bloomberg

    Boris Johnson Heads to New York - But He Can’t Escape Brexit

    (Bloomberg) -- Boris Johnson heads to New York on Sunday for his first United Nations General Assembly as prime minister. But even on the other side of the Atlantic, he won’t be able to escape Brexit.According to a statement from Johnson, his two-day schedule will see him “raising three crucial issues

  • 2 Muslim men from Texas say American Airlines profiled them
    The Canadian Press

    2 Muslim men from Texas say American Airlines profiled them

    DALLAS — Two Muslim men from Texas say American Airlines profiled them and cancelled their flight after crew members said they "didn't feel comfortable" flying with the pair.Abderraoof Alkhawaldeh and Issam Abdallah said they filed a complaint with the U.S. Department of Transportation

  • Mitsubishi Will Likely Cut Earnings Forecast on Rogue Oil Losses
    Bloomberg

    Mitsubishi Will Likely Cut Earnings Forecast on Rogue Oil Losses

    (Bloomberg) -- A $320 million loss by a rogue oil trader at Mitsubishi Corp.’s Singapore unit will likely prompt the Japanese company to cut its full-year net income forecast, SMBC Nikko Securities Inc. said."While the losses should be one-off, they will weigh on earnings in the second quarter,&

  • Antonio Brown cut by Patriots amid sexual misconduct claims
    The Canadian Press

    Antonio Brown cut by Patriots amid sexual misconduct claims

    FOXBOROUGH, Mass. — Antonio Brown was released by the New England Patriots on Friday after a second woman accused him of sexual misconduct — the third team in seven months to tire of the off-field behaviour that has overshadowed his accomplishments as one of the NFL's most prolific receivers for

  • South Korea says 2 farms tested negative for swine fever
    The Canadian Press

    South Korea says 2 farms tested negative for swine fever

    SEOUL, Korea, Republic Of — South Korea says tests on dead pigs from two farms near its border with North Korea came back negative for African swine fever, at least temporarily easing fears over the spread of the illness that has ravaged pig herds across Asia.South Korea's agriculture ministry said

  • Bloomberg

    Billionaire Widens Morehouse College-Debt Gift to Parents

    (Bloomberg) -- Billionaire Robert F. Smith’s surprise pledge to pay off the student loans of Morehouse College’s class of 2019 will cost $34 million and will now include federal educational debt amassed by parents.Students, parents and guardians received the details in an email Friday from the Atlanta

  • Gulf Coast seafood biz slammed by freshwater from floods
    The Canadian Press

    Gulf Coast seafood biz slammed by freshwater from floods

    NEW ORLEANS — Fresh water from Midwestern floods has killed oysters along the coasts of three states and cost Mississippi half of its blue crabs.Water that came through a Louisiana spillway killed 95% of the oysters in Mississippi's share of the Mississippi Sound and fed toxic algae blooms that closed

  • U.S. Orders Defensive Boost to Mideast Following Saudi Attacks
    Bloomberg

    U.S. Orders Defensive Boost to Mideast Following Saudi Attacks

    (Bloomberg) -- The U.S. will send a “moderate” number of American troops to the Middle East and additional missile defense capabilities to Saudi Arabia in response to last weekend’s attack on oil facilities that the Trump administration has blamed on Iran, top Pentagon officials said.Secretary of Defense

  • Repo Crisis Becomes Machiavellian Investor Opportunity
    Bloomberg

    Repo Crisis Becomes Machiavellian Investor Opportunity

    (Bloomberg) -- “Never waste the opportunity offered by a good crisis,” is a quote first attributed to the Italian Renaissance writer Niccolo Machiavelli and repeated by politicians the world over ever since.It also became a main theme for fund managers this week as chaos roiled money markets, sending

  • Saudi Arabia Reveals Damage to Giant Khurais Oil Field
    Bloomberg

    Saudi Arabia Reveals Damage to Giant Khurais Oil Field

    (Bloomberg) -- Saudi Aramco revealed the significant damage caused by aerial strikes on its Khurais oil field and Abqaiq crude-processing plant last weekend, and insisted that the sites will be back to pre-attack output levels by the end of the month.Aramco took reporters for a first look inside the

  • Hedge Funds Shrug Off Saudi Attacks as Demand Concerns Linger
    Bloomberg

    Hedge Funds Shrug Off Saudi Attacks as Demand Concerns Linger

    (Bloomberg) -- The devastating attack on Saudi Arabian oil facilities fueled a record rise in crude futures, but hedge funds didn’t take the bait.Money managers cut bullish bets on Brent oil by 3%, the first decline in three weeks, according to data released Friday.Following the attack that briefly halted

  • Facebook says it has suspended 'tens of thousands' of apps
    The Canadian Press

    Facebook says it has suspended 'tens of thousands' of apps

    Facebook said Friday that it has suspended "tens of thousands" of apps made by about 400 developers as part of an investigation following the Cambridge Analytica scandal.The announcement came the same day that unsealed legal documents in Massachusetts disclosed that Facebook had suspended 69,000

  • Walmart to quit selling e-cigarettes amid vaping backlash
    The Canadian Press

    Walmart to quit selling e-cigarettes amid vaping backlash

    NEW YORK — Walmart is getting out of the vaping business.The nation's largest retailer said Friday that it will stop selling electronic cigarettes at its namesake stores and Sam's Clubs in the U.S. when it sells out its current inventory.The nation's largest retailer said the move is due

  • U.S. trade regulators approve some Apple tariff exemptions amid broader reprieve
    Reuters

    U.S. trade regulators approve some Apple tariff exemptions amid broader reprieve

    The move by U.S. officials could make it easier for both Apple and small makers of gaming computers to assemble devices in the United States by lowering the costs of importing parts. Apple did not say why it requested the exemptions, but the requests were for components such as partially completed circuit

  • Goodbye, Three Mile Island: Remaining reactor shuts down
    The Canadian Press

    Goodbye, Three Mile Island: Remaining reactor shuts down

    HARRISBURG, Pa. — The money-losing Three Mile Island, the 1979 site of the United States' worst commercial nuclear power accident, was shut down Friday by its energy giant owner.The end of the 45-year electricity-producing career of Three Mile Island Unit 1 came after Chicago-based Exelon Corp. tried

  • Fresh US-China trade worries erase early gains for stocks
    The Canadian Press

    Fresh US-China trade worries erase early gains for stocks

    Wall Street closed out a volatile week with losses Friday as investors worried that upcoming trade talks aimed at resolving the costly trade war between Washington and Beijing could be in trouble.The selling, which erased modest early gains for the market, snapped a three-week win streak for the S&P

  • iPhone 11 Demand Will Surprise the Street, Analyst Ives Says
    Bloomberg

    iPhone 11 Demand Will Surprise the Street, Analyst Ives Says

    Sep.20 -- Dan Ives, Wedbush Securities analyst, and Bloomberg Businessweek's Max Chafkin discuss consumer enthusiasm over Apple Inc.'s iPhone 11 hitting stores. They speak with Bloomberg's Taylor Riggs on "Bloomberg Technology."

  • Bloomberg

    Potter Warns Fed May Have to Buy More Debt to Calm Market

    (Bloomberg) -- A former top Federal Reserve official, who oversaw the U.S. central bank’s trading desk, has warned that the type of actions taken so far to quell this week’s turmoil in money markets may not be enough to keep conditions calm and fresh debt purchases may be needed.Simon Potter, the former

  • Bloomberg

    UN Chief Sees Cities, Companies Filling U.S. Void on Climate

    (Bloomberg) -- The head of the United Nations said he believes the U.S. can still pull its weight on climate change, even though President Donald Trump is skipping a UN climate summit on Monday and has worked to roll back restrictions on everything from vehicle to power plant emissions. Cities and businesses

  • Beef Falls Out of Favor as Americans Chomp on Fewer Hamburgers
    Bloomberg

    Beef Falls Out of Favor as Americans Chomp on Fewer Hamburgers

    (Bloomberg) -- For several months, the beef market was hot. But prices got so overheated that now Americans are saying: What else is for dinner?Wholesale-beef prices, the best proxy for short-term demand since it’s a spot-market measure, are down 10% from a peak in August, and an indicator for burgers

  • Thousands laid off in Ontario as General Motors strike drags on in U.S.
    The Canadian Press

    Thousands laid off in Ontario as General Motors strike drags on in U.S.

    Thousands of workers in Ontario's auto industry have been temporarily laid off as General Motors' Canadian operations feel the effects of the continuing strike in the U.S. by the United Auto Workers. GM said Friday that it had halted all vehicle production at the Oshawa plant, leaving about 2,000