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Latest 24 Hour Economy News
Source: BBC

Macron unveils reforms after yellow-vest protests

Today 05:10 GMT

French President Emmanuel Macron has given a long-awaited response to the yellow vest protest movement with promises of tax cuts, higher pensions and a reform of the civil service.

Protests, sometimes violent, started in November over rises in fuel costs but widened to cover a range of grievances over economic inequality. His speech was originally scheduled for 15 April but was postponed after the devastating fire at Notre-Dame cathedral in Paris.

Source: The Guradian

Oil prices expected to spike in summer as US toughens stance on Iran sanctions

Today 05:10 GMT

US and global crude oil prices are near six-month highs as the White House said Monday it would not extend exemptions to Iran’s oil sanctions that were set to end in May.

The news triggered an immediate spike in oil prices and comes as gasoline demand seasonally rises as Americans prepare for summer road trips. Beth Mosher, spokeswoman for AAA, which tracks gasoline prices, said based on the Iranian news, AAA forecasts nationwide gasoline prices to rise over $3 a gallon this summer.

Source: Common Domain

A fear markets are overvalued is holding back investors, says BMO strategist

Today 05:09 GMT

Onto our call of the day from BMO Wealth Management’s chief investment strategist Yung-Yu Ma, who cautions that an over-hyped fear surrounding stock markets may be holding investors back.

Traditionally, how this works is if the S&P 500 is yielding is less than that of safer-haven bonds, stocks might look overvalued. He bases his view chiefly on a comparison of S&P 500 earnings yield, a popular metric that gauges expected stock returns, versus the yield on the 10-year Treasury note.

Source: Global News

‘Bond 25’ cast revealed: Rami Malek to play villain

Today 05:09 GMT

Bond movies tend to be announced in Britain but this time the cast went to Fleming’s Goldeneye villa in Jamaica for the announcement.

Daniel Craig, Bond producers Barbara Broccoli and Michael G. Wilson, and director Cary Fukunaga on Thursday launched the film from the Caribbean island nation where Ian Fleming wrote all of his Bond novels. The 25th James Bond movie and Daniel Craig’s fifth and final installment as 007 is heading to Jamacia.

Source: Reuters

Corporate profits and U.S. economy chug along, defying recession fears

Today 05:09 GMT

After months of handwringing about the possible crash-landing of the housing market, investors awaiting quarterly earnings from No. 3 U.S. homebuilder PulteGroup Inc this week were ready for the worst.

In mid-March, Wall Street analysts were fretting about an imminent profits recession, and some economists worried an economic recession might follow in its wake. Profits at S&P 500 companies, seen declining for the first time in three years just a month ago, now appear on course for another quarter of growth as first-quarter results pour in, according to I/B/E/S data from Refinitiv.

Source: Reuters

Comcast first quarter profit beats Wall Street, misses on revenue

Today 05:09 GMT

(Reuters) - Comcast Corp reported first-quarter profit on Thursday that beat Wall Street estimates, boosted by strong additions of high-speed internet customers in a quarter that painted another mixed picture for the biggest U.S. cable provider.

Comcast’s overall revenue rose 18 percent to $26.86 billion, but fell short of Wall Street expectations of $27.20 billion.

Source: Reuters

Breakingviews - Amazon’s best weapons are sprawl and usefulness

Today 05:10 GMT

While revenue grew 17 percent in the latest quarter, year-on-year, sales of services to other companies that sell on Amazon’s platform, and of its cloud business, grew at least twice as fast.

First, spread Amazon’s operations so that more communities and politicians have an interest in helping to fight its corner. Amazon already has warehouses and fulfillment centers in more than half of U.S. states, but that means there are many where it doesn’t.

Source: DW

Opinion: Reason prevails — no Deutsche Commerzbank

Today 05:09 GMT

It would incorporate the huge financial risks of the once so proud and arrogant Deutsche, alongside the burden of Commerzbank still operating in the shadow of its bigger rival, dependent on state aid.

When Deutsche and Commerzbank finally bowed to mounting pressure in March and started merger talks, Scholz said it would be for the two sides to clarify whether a tie-up would make economic sense. He even hired a former Goldman Sachs Germany chief, Jörg Kukies, to push a merger.

Source: Reuters

Intel cuts full-year revenue forecast, misses on data-center sales

Today 05:10 GMT

(Reuters) - Chipmaker Intel Corp cut its full-year revenue forecast on Thursday and missed analysts’ estimates for first-quarter sales for its higher-margin data center business, sending its shares down 7 percent after hours.

The lowered full-year revenue forecast adds to concerns that an industry-wide slowdown could persist until the end of 2019 and follows a similar warning earlier this week from chipmaker Texas Instruments.

Source: Global News

Precision Drilling reports Q1 profit, revenue up from year ago as rigs continue moving south

Today 05:09 GMT

Precision Drilling Corp. says it earned a profit in its latest quarter compared with a loss a year ago, as its revenue improved eight per cent.

Excluding the sale of drilling assets in Mexico and restructuring charges, Precision Drilling says it earned $1 million or zero cents per diluted share in the quarter. Analysts on average had expected a loss of five cents per share and revenue of $408.6 million for the quarter, according to Thomson Reuters Eikon.

Source: Reuters

Ford first-quarter profit beats Wall Street view, more confident of...

Today 05:09 GMT

Ford Motor Co on Thursday posted a better-than-expected first-quarter as pickup truck sales remained strong in its core U.S. market and the company expressed greater confidence in its forecast that 2019 would bring better results than last year.

Ford posted a quarterly net profit of $1.15 billion or 29 cents per share, down 34 percent from $1.74 billion or 43 cents per share a year earlier. Excluding one-time items, Ford earned 44 cents per share, above analyst estimates of 27 cents, according to IBES data from Refinitiv.

Source: Common Domain

California Home Featured in ‘La La Land’ Headed to the Market

Today 05:09 GMT

The six-bedroom home on Estrondo Drive has a stellar filmography, having been featured in the Oscar-winning movie “La La Land, ” plus TV shows including “NCIS LA,” “Modern Family” and “Ballers.” It’ll also appear in “The Laundromat,” with Meryl Streep and Gary Oldman, set to be released later this year, according to listing agents Tomer Fridman, Dana Olmes and Jeffrey Biebuyck of Compass.

A contemporary glass-covered home in the Los Angeles neighborhood of Encino that has hosted scores of film and TV crews is hitting the market Thursday for $6.45 million, Mansion Global has learned.

Source: Fox News

Amazon crushes earnings expectations, but revenue growth slows

Today 05:10 GMT

Amazon crushed expectations for its first-quarter results on Thursday, reporting earnings that easily surpassed Wall Street’s projections even as revenue growth slowed.

Quarterly revenue rose 17 percent to $59.7 billion, roughly in line with expectations, but growth was down from 46 percent in the same period one year ago. In the first quarter, North America revenue grew 17 percent to $35.8 billion, compared to 46 percent growth in the same period one year ago.

Source: The Guradian

Macron outlines plan for 'significant' tax cut after months of unrest

Today 05:09 GMT

Emmanuel Macron has promised tax cuts, pension rises and a continuation of his reform programme while responding to five months of demonstrations by gilets jaunes (yellow vests) anti-government demonstrators.

Macron said he wanted a “significant” cut in income tax, which would be financed by closing loopholes and squeezing government spending, but the French would also have to work more. After five months of protests during which there was sporadic rioting and arson in Paris, Macron has been under pressure to kickstart a programme for structural change that would define the second part of his presidency.

Source: Reuters

Amazon profit trounces estimates, sales forecast muted

Today 05:09 GMT

Inc on Thursday trounced first-quarter profit estimates on soaring demand for its cloud and advertising services, but a weak forecast renewed concern that the company would spend away part of its windfall on larger investments this year.

The company said revenue from the category and some other items grew 33.7 percent to $2.72 billion, but missed estimates of $2.85 billion.

Source: BBC

Nasa lander 'detects first Marsquake'

Tuesday 22:45 GMT
Source: Common Domain

What to do when saving enough money to retire demands drastic action

Sunday 21:48 GMT
Source: Fox News

Maid of honor claims nearly 100 goldfish died after 'crappy' bride insisted on giving them as wedding favors

Monday 19:04 GMT
Source: The Guradian

Bolsonaro's motorbike escapade provokes helmet backlash

Monday 19:04 GMT
Source: The Guradian

Polly Higgins, lawyer who fought for recognition of 'ecocide', dies aged 50

Monday 14:30 GMT
Source: Common Domain

Logistics Report: Logistics for Thin Mints; Following the Robots; Resetting Railroad Maps

Monday 14:30 GMT
Source: Common Domain

Mastercard and Visa Stock Will Gain Because Strong Earnings Growth Will Continue, Analyst Says

Wednesday 16:21 GMT
Source: DW

China tries to allay fears over Belt and Road policy

Today 05:09 GMT
Source: Fox News

Newt Gingrich: China wants to replace America as THE global superpower -- Here's what we must learn

Today 05:09 GMT
Source: Fox News

Veterans should have choice on health care provider: Dan Caldwell

Thursday 17:16 GMT
Source: DW

Deutsche Bank hands over Donald Trump loan documents: reports

Thursday 21:51 GMT
Source: Fox News

Biden's Senate records held by his alma mater won't be released until late 2019, possibly even later

Today 05:10 GMT
Source: Common Domain

Trump says stocks have hit records ‘close to or over a 100 times’ since he took office — but he may be understating it

Thursday 19:06 GMT
Source: The Guradian

Oil prices expected to spike in summer as US toughens stance on Iran sanctions

Today 05:10 GMT

“Four hostile newspapers are more to be feared than a thousand bayonets...” ― Napoléon Bonaparte