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Markets

So far there is scant detail about what the auto will be called or powered by. " Car companies are acknowledging that the crossover, sport utility vehicle boom is continuing", said analyst Michelle Krebs of Autotrader. At the Detroit auto show on Monday, Cadillac showed its first electric-car concept, a largish mid-size SUV that looks likely to seat five passengers, though details from the company were scant.
  • Tim Cook will host meeting for all Apple employees to talk iPhone

    Tim Cook will host meeting for all Apple employees to talk iPhone

    Markets

    A chunk of this year's worldwide sales decline for iPhone and iPad occurred in China , according to Cook's letter . And just a few days after Geekbench's report was published, Apple said that it was, in fact, throttling the performance of older iPhones to prevent them from shutting down unexpectedly.
  • Tesla shares go into reverse on missed deliveries and price cuts

    Tesla shares go into reverse on missed deliveries and price cuts

    Markets

    With Musk having generally reigned in his own behavior and the company's Model 3 production figures much closer to weekly production targets, the alarm bells that were ringing six months ago have quieted considerably. Tesla disappointed investors Wednesday, delivering 90,700 vehicles during the fourth quarter, which fell short of Wall Street forecasts despite its efforts to ramp up production.
  • Minimum Wages Rising In 20 States And Several Cities

    Markets

    Each will eventually boost its minimum wages to at least $12 and as much as $15 an hour by phasing in the change. South Dakota is one of 20 states that are raising minimum wages for 2019. The minimum wage in Korea is calculated by dividing the monthly salary by the number of working hours. In 2020, it will increase again to $15 per hour.
  • US, China to meet on trade, tariffs

    US, China to meet on trade, tariffs

    Markets

    In recent weeks, US and Chinese officials have spoken by phone, but next month's meeting would be the first in-person talks since President Trump met with his Chinese counterpart, Xi Jinping , in Buenos Aires on December 1. "The Chinese and USA economic and trade teams have always maintained close communication", said commerce ministry spokesman Gao Feng at a regular briefing.
  • Sears closing 80 more stores -- 2 in MI

    Sears closing 80 more stores -- 2 in MI

    Markets

    Sears is closing 80 more stores. A hedge fund controlled by Sears chairman Eddie Lampert is offering $4.6 billion. A manager at the Kmart in Fostoria declined to answer questions, such as how many people are employed at the store. As originally outlined, his plan would be partly funded by swapping the debt he holds for full ownership of the company. Last week, a bankruptcy court allowed Sears Holdings to sell its home improvement service businesses to Service.com for $60 million.
  • Transformer explosion at NYC power plant lights up night sky

    Transformer explosion at NYC power plant lights up night sky

    Markets

    Transformers, like the one that produced the bright light in Queens , change the electricity flowing through them into different voltages. Minutes later, the New York Police Department Chief Terence Monahan said the incident was under control , and said no injuries were reported .
  • U.S. Stocks Drop Sharply Amid Continued Volatility

    U.S. Stocks Drop Sharply Amid Continued Volatility

    Markets

    Social media exploded after Monday's crash. Volatility has been the norm in December. The S&P 500 Index, the Dow Jones and Nasdaq all recorded small gains in morning trading. OIL: Benchmark US crude added 1.4 percent to $43.11 a barrel in NY. U.S. Treasury yields also reversed direction after rising sharply on Wednesday, dropping three basis points to 2.765 per cent.
  • Dow Surges 1000+ Points, Largest Single-Day Gain Ever

    Dow Surges 1000+ Points, Largest Single-Day Gain Ever

    Markets

    A day earlier, Trump claimed there is a buying opportunity for stocks. The three major US indexes all posted their biggest one-day percentage gains since March 2009, in the first day of trading following the Christmas holiday, when the market was closed.
  • Oil rebounds from steep slide but growth fears still weigh

    Oil rebounds from steep slide but growth fears still weigh

    Markets

    With most authorities forecasting a slowdown in its growth next year, the concern about how crude oil demand will be faring in 2019 is only to be expected. "Most major economies are likely to see decelerating activity, with real GDP growth of 1.4 percent in both Europe and Japan, and 4.6 percent growth in aggregate among the emerging markets", BofA Merrill Lynch said recently.
  • Businesses open on Christmas Day

    Businesses open on Christmas Day

    Markets

    Christmas Day . Some grocery stores are closed all day for the holiday, period. The last day for free same-day shipping is Monday, December 24. The one big exception is Christmas: Walmart is closed on December 25 every year. Kohl's: Kohl's is open until 6 p.m. Christmas Eve . Christmas Eve and Christmas day are some of the slowest holidays of the year. The Lanspeary Lions and Charles Clark Square outdoor skating rinks will close for Christmas Day and New Year's Day .
  • US Treasury chief to confer with top market regulators

    US Treasury chief to confer with top market regulators

    Markets

    Asian stocks were mixed on Monday after Mnuchin's calls to the bankers, but analysts expressed both surprise and alarm at the Secretary's Sunday statement, saying it might do the opposite of calming current jitters. His frustrations have risen so high that Trump has asked his team whether he has the legal authority to fire Powell - a move that Mnuchin, among others, has worked hurriedly to prevent.
  • Significant wind storm hitting the coast

    Significant wind storm hitting the coast

    Markets

    About 160,000 customers in the Lower Mainland, Fraser Valley, Sunshine Coast, Vancouver Island and Gulf Islands remain without power. Uprooted trees, snapped power lines and debris forced the closure of several streets and highways along the southern coast.
  • Stocks End Week Down 7%

    Stocks End Week Down 7%

    Markets

    Both the Dow and the S&P are on pace for their worst December since the Great Depression in 1931. Stocks are cheap, presenting buying opportunities for smart investors willing to take on a bit of risk. A correction is Wall Street's term for an index like the S&P 500, the Dow Jones Industrial Average , or even an individual stock, that's fallen 10 per cent or more from a recent high.