Markets
U.S. jobless claims fall in sign of labour market strength
The four-week average for new unemployment benefits claims was lower than the corresponding week in July, a positive signal for employment during the month. Concerns over the impact of the trade tensions between Washington and Beijing on the United States economic expansion, the longest on record, prompted the Federal Reserve to cut interest rates last month for the first time since 2008. [Full Article...]
Qantas to run test flights on world's longest route
Instead of flying empty from Seattle to Australia, the aircraft will simulate two Project Sunrise routes - London and NY to Sydney. The payload of 40 passengers and crew, majority employees, will undergo medical checks and assessments. - How long is too long to be on a flight? "Flying non-stop from the East Coast of Australia to London and NY is truly the final frontier in aviation, so we're det... [Full Article...]
Chick-fil-A and Popeyes spark Twitter beef over chicken sandwiches
Chik-Fil-A feeling the pressure fired off a tweet pointing out that their sandwich is the original. Not feeling that the Lousiana-based fast-food chain was getting all the buzz, Chik-Fil-A chimed in on Twitter and sparked a scrumptious battle. [Full Article...]
Mounting debt: United States budget gap could exceed $1 trillion by 2020
Previously, the non-partisan federal agency that provides budget and economic information to Congress forecasted the deficit to be $896 billion for 2019 and $892 billion for 2020. "Federal debt, which is already high by historical standards, is on an unsustainable course", said CBO Director Phillip Swagel in a public letter. "Tariffs also affect business investment by increasing businesses' unce... [Full Article...]
Bernie Sanders to hold rally in downtown Sacramento this week
Harris swiped at Sanders healthcare proposal at the East Hampton event; confirming she "still believes in capitalism". Democratic presidential candidate Bernie Sanders " plan would establish a federal "no-call policy, ' so testimony from "untrustworthy sources" does not lead to criminal convictions; reaction and analysis from Fox News contributors Tom Homan and Jehmu Greene. [Full Article...]
China trims lending rates with new benchmark, more rate cuts expected
The LPR is the commercial banks loan rate providing to their best customers. The rate is based on a weighted average of lending rates from nine commercial banks. The LPR, originally introduced by the PBOC in October 2013, is an interest rate that commercial banks charge their best clients and was meant to better reflect market demand for funds than the benchmark the PBOC sets. [Full Article...]
Del Monte facility in Mendota closing
DelMonte also will close a plant in Sleepy Eye, Minnesota.The company will sell manufacturing assets at its Crystal City, Texas facility and intends to transfer production at this site to outside locations later this year. "I feel really bad for the farmers, too, that plant the peas and the corn. We are hopeful a suitable buyer will resume operations". In Mendota, processed products include peas... [Full Article...]
Amazon Opens Its Largest Campus in the World in Hyderabad
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Amazon has 62,000 employees in India, roughly a third of whom are based in Hyderabad . "Amazon laid the foundation stone for the campus building on March 30, 2016". One reason could be that e-commerce is a very small portion of retail, probably just 3% of retail consumption. It was inaugurated by Telangana Home Minister Mohammed Mahmood Ali, Amazon Vice-President Global Real Estate and Faci... [Full Article...]