Markets
United States stock benchmarks close at record highs
Stocks are at record highs. Year to date, the Nasdaq Composite has a gain of 16.71%, the S&P 500 has gained 10.95% and the Dow Jones has a return of 9.60%. Trading volume spiked to the highest level since February 9 in anticipation of the S&P 500 sector change, when telecoms will be folded into a new sector called communications services, along with heavy-hitting stocks such as Facebook In... [Full Article...]
ASIC clamps down on dodgy ICOs and crypto asset funds
In April 2018, the ASIC prevented ICOs from raising funds if they failed to comply with the necessary investor protection protocols. The Australian Securities & Investments Commission ( ASIC ) has said that initial coin offerings ( ICOs ) that target retail investors will be subject to more intense scrutiny, Reuters reported . [Full Article...]
Coles, Woolies lift milk price to help drought-stricken farmers
Lifting the price of milk to help farmers: Woolworths Group Ltd ( ASX: WOW ) has made the decision to raise the price of house brand three-litre milk by 30¢ to $3.30 at all stores nationwide to support the drought stricken dairy farmers. Australian Dairy Farmers president Terry Richardson said selling milk for less than bottled water must stop. Customers will be able to purchase the Drought Reli... [Full Article...]
Oil prices mixed as Donald Trump calls on OPEC to lower prices
Brent crude futures were 0.6 percent lower in London, erasing an earlier gain of as much as 0.5 percent to trade at $78.92 a barrel at 1:07 p.m. local time. Iraq set a new record for oil production in August. The Republican president has lashed out at the Organization of Petroleum Exporting Countries over the past several months, demanding price cuts and output increases in targeted tweets. [Full Article...]
China considers lowering tariffs as its economy faces difficulties
His comments appear to address claims that China is using its currency as a tool in the trade war with the U.S. and come after the Trump administration announced it would impose new tariffs on $200bn worth of Chinese goods. Officials have not confirmed if the USA would be affected by the move. "But we will continue to work hard to promote the healthy development of China-U.S. [Full Article...]
Tesla Model 3 Sedan Aces All of US Safety Agency's Crash Tests
Finally, the rollover category measures the risk of rollover in a loss-of-control scenario. Although an overall 5-star rating is not uncommon for vehicles, achieving 5-star scores in every category tested by NHTSA is indeed rarer. The Model 3 scored the highest possible marks in this test. In a post last month on Twitter , Musk noted that the absence of a fossil fuel-powered engine in the Model... [Full Article...]
Woolworths pulls sewing needles from shelves following the spiking of strawberries
Woolworths, one of the country's big two supermarkets, announced that it had "taken the precautionary step" of temporarily withdrawing needles from sale, as police struggled to find the original culprit amid a spate of copycat episodes. Morrison plans to increase the maximum sentence for food contamination from 10 years to 15 in a bid to deter offenders, especially copycats. The supermarket gian... [Full Article...]
Brexit was sold by 'liars': European Union leaders reject May's plan
Theresa May has had her Brexit strategy comprehensively rejected by European Union leaders, who sent her away with an ultimatum to rewrite her plans within four weeks. The EU has insisted that the single market can not be cherry-picked like that. Chuka Umunna, a Labour MP and prominent campaigner for a People's Vote, said earlier this week he had been speaking to European Union diplomats in Bru... [Full Article...]