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China’s globetrotting labourers face dangers and debt

[ad_1] Desperate for cash because he had not been paid for two months and fearing he could be deported because he lacked official papers, Jiang Wei and two colleagues turned up at the Chinese consulate in the Zambian capital of Lusaka in search of help. “Our subcontractor held our passports and visas. We had no formal work contract,” said Mr Jiang.Their passports were returned and they were given their pay
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Surging oil output will push US towards energy independence in 2020

[ad_1] Most of the growth is coming from shale fields like the Permian, where frackers use advanced drilling methods known as hydraulic fracturing to free oil and natural gas from rock formations. The surge in U.S. production is making the country less reliant on foreign oil. In 2018, net imports of oil and petroleum products fell from 3.8 million bpd to 2.4 million bpd. EIA forecasts net imports will dwindle
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Canada needs a digital ID system, bankers association says

[ad_1] TORONTO — The Canadian Bankers Association says Canada must create a digital identification system, potentially utilizing technology such as blockchain, biometrics and document review over a live video connection.The association’s chief executive says moving away from a paper-based, face to face process towards a modern identification system of this kind is needed to “unlock the full potential” of the digital revolution that is underway.Neil Parmenter added in his speech
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Disconnect between India’s EPS growth and PE multiples at all-time high

[ad_1] The BofAML report suggests that MSCI India is currently still in the high expectation/high PE zone.The Indian equity market has been recording a dispersion of valuations (disconnect between EPS growth differential and PE differential) among the MSCI India stocks. This dispersion of valuations has reached an all-time high due to which the market could see a significant risk to P/E multiples, according to a Bank of America Merrill Lynch
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UK Parliament rejects PM May’s EU divorce deal by 230 votes

[ad_1] LONDON: British lawmakers defeated Prime Minister Theresa May's Brexit divorce deal by a crushing margin on Tuesday, triggering political upheaval that could lead to a disorderly exit from the EU or even to a reversal of the 2016 decision to leave. Parliament voted 432-202 against her deal, the worst parliamentary defeat for a government in recent British history. Scores of her own lawmakers - both Brexiteers and supporters of
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AG nominee Barr won’t “go after” pot companies – Aurora Cannabis Inc. (NYSE:ACB)

[ad_1] At his confirmation hearing, Attorney General nominee William Barr said that he would not "go after" marijuana companies in states allowing cannabis use, adding that the current system (cannabis use and possession is illegal on the federal level) is "untenable." Selected tickers: (TLRY -17.1%)(CRON -4.6%)(CGC -1.4%)(OTCPK:MJNA -5.4%)(ACB +5.3%)(OTCQB:PHOT -4.9%)(OTCPK:CBIS -3.3%)(APHA -3.1%)(OTCQX:TRTC -0.2%)(OTCQX:CANN -10.5%)(OTCPK:GRNH +5%)(MJ -1.5%)(OTCPK:HEMP -9%) [ad_2] Source link
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Colombia stocks lower at close of trade; COLCAP down 0.32% By Investing.com

[ad_1] Colombia stocks lower at close of trade; COLCAP down 0.32% Investing.com – Colombia stocks were lower after the close on Tuesday, as losses in the , and sectors led shares lower. At the close in Colombia, the lost 0.32%. The best performers of the session on the were Etb (CN:), which rose 0.80% or 2.0 points to trade at 253.0 at the close. Meanwhile, Canacol Energy Ltd (CN:) added
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May’s Brexit plan defeated by 230 votes

[ad_1] Theresa May’s Brexit deal, the product of more than two years of tortuous negotiations in Brussels, was on Tuesday night overwhelmingly rejected by the House of Commons by 432 votes to 202, in a historic defeat.Mrs May’s loss by 230 votes, one of the biggest defeats inflicted on any government in the past 100 years, sees the prime minister in a race against time to save her deal before
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New York State Senate Moves to Protect Minors From Conversion Therapy

[ad_1] The New York state Senate voted to become the 15th state to ban gay conversion therapy on minors Tuesday, legally declaring that “being lesbian, gay, bisexual or transgender is not a disease, disorder, illness, deficiency, or shortcoming.” The bill was passed by the Democratic-majority state senate, and will be signed into law by Gov. Andrew Cuomo as soon as next week, NBC News reports. The N.Y. state Senate also
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PG&E misses interest payment, shares plummet

[ad_1] Getty Images PG&E workers work to repair power lines in the Coffey Park neighborhood following the damage caused by the Tubbs Fire on October 13, 2017 in Santa Rosa, California. The price of bonds and shares in PG&E plummeted after the California power company failed to make a $21.6 million interest payment due Tuesday on its 2040 senior notes. Nearly all of the company's $18 billion in debt was
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Rate outlook: What are central banks going to do next?

[ad_1] Central banks enter the new year under pressure from investors to rethink just how aggressive they can be hiking interest rates.A slowdown in the world economy, the trade war and skittish financial markets are forcing policymakers to express fresh caution about their scope for tightening monetary policy.Last year, a majority of central banks raised rates and the European Central Bank ceased buying assets. Of course, if economies weather the
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India- South Africa to enhance trade and military ties later this month

[ad_1] South African President Cyril Ramaphosa will be the chief guest at India’s 70th Republic Day celebrations on January 26. (File photo: PIB)Enhanced engagement between India and South Africa and greater cooperation in areas including military to military, maritime security, skill development, and agriculture and information technology will be the focus of delegation level talks when leaders of the two countries meet later this month. The two countries have set
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Theresa May’: Brexit deal: Here’s plan B

[ad_1] British Prime Minister Theresa May’s Brexit divorce deal may not be, as one Opposition lawmaker called it, “as dead as the deadest dodo”. May has until the start of next week to come back to Parliament with a Plan B—and Britain has just 10 weeks until it is due to leave the bloc, with or without a deal, on March 29. Here’s plan B: SECOND TIME LUCKYThe government could
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Apple cutting autonomous vehicle program? – Apple Inc. (NASDAQ:AAPL)

[ad_1] Lynx Equity Strategies analysts KC Rajkumar and Jahanara Nissar are hearing chatter that Apple (AAPL +2.1%) could cut its secretive self-driving vehicle program. If true, the reversal could ding Services through the loss of a new growth vector outside the core devices and might indicate that the stagnating iPhone sales have warranted some cost tightening. Key quote: "We have two take-aways: 1) A sudden and significant shortfall in iPhone
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All clear or keep clear? Turkey’s lira still vulnerable By Reuters

[ad_1] © Reuters. FILE PHOTO: Banknotes of U.S. dollars and Turkish lira are seen in a currency exchange shop in Azaz, Syria By Karin Strohecker and Marc Jones LONDON (Reuters) - Having suffered its worst year in nearly two decades in 2018, Turkey's lira was earmarked by many as the "comeback kid" of this year - with local policymaking getting the benefit of the doubt at last and global currency
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US development finance head in running for World Bank presidency

[ad_1] Ray Washburne, the Texan property developer who heads the US government’s development finance institution, has emerged as a contender in the race to be Donald Trump’s nominee for the presidency of the World Bank, according to people familiar with the matter. Mr Washburne became a candidate following his efforts to bolster the Overseas Private Investment Corporation since taking up the reins in September 2017, earning new funding from Congress that
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Companies Are Targeting Black And Hispanic Youth With Junk Food Ads

[ad_1] Companies that sell junk food, from fast food to unhealthy snacks and sugary drinks, are spending billions of dollars on ads targeting black and Hispanic youth, according to a new report conducted by the University of Connecticut, Drexel University, and the University of Texas Health Science Center. The same companies have pushed healthier food initiatives, establishing “corporate responsibility programs to support health and wellness among their customers,” said Jennifer
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Don’t get too excited by earnings beats – the bar is set very low

[ad_1] Preliminary earnings results are already showing earnings beats, RBC Capital Markets strategist Lori Calvasina said in a note to investors on Tuesday. But those better-than-expected results represent companies stepping over a very low bar. "The tone around demand and the underlying backdrop has rattled US equity investors," Calvasina said. Apple confirmed what many feared when it announced lowered revenue guidance for the upcoming quarter. Even if Apple were to
Business

Three things that might give investors hope amid fears of a looming recession

[ad_1] While market participants appear quite worried about the outlook heading into 2019, our contrarian nature leaves us leaning towards a positive forecast especially after factoring in some very compelling valuations both in Canada and abroad.Of note, we see three key factors worth keeping a close eye on which we think could have a meaningful impact on investors’ portfolios.Central bankers no longer behaving badlyCentral banks, especially our own Bank of
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Sebi amends guidelines for Real state Investment Trusts, Infrastructure Investment Trusts

[ad_1] In two separate circulars, the Sebi said the amendments have been made to rationalise and ease the process of public issue of units of REITs and InvITs.Markets regulator Sebi Tuesday amended guidelines for Real state Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) to ease the process of public issue of their units.Now, these trusts can accept only Applications Supported by Blocked Amount (ASBA).Among others, the manager on behalf
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kenya: Extremists attack hotel in Nairobi; al-Shabab claims role

[ad_1] NAIROBI: Extremists launched a deadly attack on a luxury hotel in Kenya's capital Tuesday, sending people fleeing in panic as explosions and heavy gunfire reverberated through the complex. A witness said he saw five bodies at the hotel entrance alone. Al-Shabab, the Somalia-based Islamic extremist group that carried out the 2013 Westgate Mall attack in Nairobi that left 67 people dead, claimed responsibility. ``It is terrible. What I have
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Italian banks face 2019 funding crunch without ECB help By Reuters

[ad_1] © Reuters. FILE PHOTO: Outside view shows the Euro sculpture in front of the ECB headquarters in Frankfurt By Valentina Za and Giulio Piovaccari MILAN (Reuters) - Many Italian banks are struggling to borrow on the private markets and want European Central Bank (ECB) help as they seek more than 55 billion euros ($63 billion) in funding this year. Even after removing the threat of major collapses by bailing out
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Huawei founder Ren Zhengfei in his own words

[ad_1] Ren Zhengfei, the 74-year-old founder and president of Huawei, appeared before journalists in Shenzhen for a rare and wide-ranging discussion about the Chinese company’s future, its problems over 5G and security, and the arrest of his daughter in Canada. Below are excerpts from the session, as Mr Ren defended Huawei from its critics. On espionage and cyber security“Huawei has served 3bn customers in 30 years in 170 countries, and
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JP Morgan Feels Market Volatility Despite Record Q4 Profit

[ad_1] JP Morgan Chase became the latest Wall Street bank to report the damage of December’s volatile market conditions, disclosing a decline in revenues and profits in its investment banking business driven by a weaker fixed income markets sector. The nation’s largest bank still reported largely positive results overall, with total net revenue up 4% year-on-year in the fourth quarter, to $26.8 billion, and a 67% hike in quarterly net
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White House considering former PepsiCo CEO Indra Nooyi to head World Bank: New York Times

[ad_1] Indra Nooyi, the former PepsiCo CEO, is reportedly being considered to become the next head of the World Bank. The New York Times, citing several people familiar with the matter, said Tuesday that Nooyi has been courted by Ivanka Trump as an ally to the Trump administration. However, the report said the process for picking the next World Bank chief remain fluid and is still in the early stages.
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Overpaid workers will only pay back ‘net’ amounts under proposed new tax rules

[ad_1] OTTAWA — The federal government says it’s preparing to address one of the key tax issues that has caused massive headaches for government employees overpaid by its problem-plagued civil service pay system.The Finance Department has drafted legislation that would see overpaid employees — regardless who they work for — required to repay only the amounts deposited into their bank accounts in a prior tax year.Under current legislation, any employee
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Cops say Kanhaiya shouted anti-India slogans; chargesheet timing questioned

[ad_1] Delhi Police has claimed before a court in New Delhi that former Jawaharlal Nehru University (JNU) student union leader Kanhaiya Kumar had raised anti-India slogans in 2016 "to incite hatred and disaffection towards the government". Police cited statements of various witnesses in its charge sheet to state that Kumar was walking along with the protesters where a number of unidentified persons were raising slogans during
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Ban on election day ads in papers? Law unlikely to change before Lok Sabha 2019 polls

[ad_1] As of now, only electronic media is barred from showing election publicity material during the last 48 hours before conclusion of polling.A panel, which was asked to propose changes in electoral laws dealing with campaigning in the last 48 hours, has recommended a ban on advertisements in newspapers on election day, but according to senior Election Commission officials statutes are unlikely to get amended ahead of Lok Sabha polls.
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India asks WTO members to resolve judges’ appointment issue in appellate body

[ad_1] NEW DELHI: India Tuesday asked the members of the World Trade Organisation to come forward for resolving the issues related to the current impasse in the appointment of judges in the WTO appellate body. The delay in appointment of members in the appellate body of the WTO's dispute settlement mechanism would hamper its functioning. The US has blocked the appointment of these members. "India reiterated its willingness to engage
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Goodyear Tire & Rubber -3% after disclosing volume drop – Goodyear Tire & Rubber Co. (NYSE:GT)

[ad_1] Goodyear Tire & Rubber (GT -3.3%) drops after the company discloses that Q4 tire unit volume fell 3% vs. a prior forecast of flat growth. The company cites continued weakening of the original equipment environment in China and India and notes the EMEA winter market declined late in the quarter. U.S. supply issues also led to an unfavorable mix shift during the quarter. Goodyear conference presentation slides [ad_2] Source
Business

Mexico officials skip congressional testimony on fuel theft By Reuters

[ad_1] © Reuters. FILE PHOTO: Employees sweep the floor of a gas station closed after running out of fuel in Mexico City MEXICO CITY (Reuters) - Top officials from President Andres Manuel Lopez Obrador's administration on Tuesday did not attend a congressional committee convened to question them over the government's strategy in a crackdown on fuel theft. Lawmakers had asked Energy Minister Rocio Nahle, Finance Minister Carlos Urzua and Octavio
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Democrats press Trump nominee on Mueller memo

[ad_1] Democrats pressed William Barr on a controversial memo he wrote about Robert Mueller’s Russia investigation on Tuesday at the start of a Senate confirmation hearing for Donald Trump’s nominee for attorney-general.Dianne Feinstein, the ranking Democrat on the Senate judiciary committee, told Mr Barr that the 2018 memo, in which he criticised Mr Mueller’s inquiries into whether Mr Trump had attempted to obstruct justice, raised questions about whether he had
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What Did Donald Trump’s Fast Food Spread for Clemson Tigers Cost?

[ad_1] Championship sports team visits to the White House are an old tradition. No surprise that Donald Trump invited the Clemson Tigers to Washington, D.C., after the team beat Alabama for the national championship. It’s a special event, which this time was marked by fast food. The federal government shutdown and worker furloughs have affected the White House staff, including in the kitchen. As host of the year’s college football
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Even a little marijuana may change teen brain, study finds

[ad_1] Low levels of marijuana use — as few as one or two times — may change the teen brain, according to a new study. The study, which looked at the brains of 46 14-year-old girls and boys from Ireland, England, France and Germany, found that teenagers who reported using recreational marijuana just once or twice displayed increased volume on MRI images in numerous brain regions involved in emotion-related processing,
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Interest rates cast pall on Canadian home sales, with December losses capping worst year since 2012

[ad_1] Canada’s home sales skidded to the lowest level since 2012 last year after dropping for four straight months through December, as higher interest rates and tighter lending rules cast a pall over the real estate market.Nationwide, sales totalled 458,442 for the year, a drop of 11 per cent which was the biggest since 2008, the Canadian Real Estate Association said Tuesday from Ottawa. The 2.5 percent December drop from
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India improves score at Times’ 2019 university rankings; now 25 in top 200

[ad_1] India has increased its representation in the latest Times Higher Education (THE) Emerging Economies University Rankings 2019, with 49 institutes making it to the list as compared to 42 last year. Of these, 25 were among the top 200 as against 17 last year. The India group in the ranking was again led by the Indian Institute of Science- Bangalore (IISc) whose position was at
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NSA for those accused of killing cows, freedom for those involved in killing policeman: Kapil Sibal

[ad_1] “Wah Yogi ji (Uttar Pradesh Chief Minister Yogi Adityanath)…NSA for those accused of killing cows. Freedom for those involved in killing Inspector Subodh Kant Singh,” Sibal said in a tweet.Senior Congress leader Kapil Sibal attacked the BJP-led Uttar Pradesh government on Tuesday over the invoking of the National Security Act (NSA) against three persons arrested in connection with an alleged cow-slaughter incident, saying NSA for those accused of killing
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RBI: RBI to inject Rs 10,000 crore through open market operations this week

[ad_1] Mumbai: The Reserve Bank of India (RBI) Tuesday said it would inject Rs 10,000 crore into the system through purchase of government securities on January 17 to increase liquidity. The purchase will be made through open market operations (OMOs). "Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the RBI has decided to conduct purchase of ... Government securities under OMOs
Business

Trump’s attorney general pick to face questions on criticism of Mueller probe By Reuters

[ad_1] © Reuters. William Barr waits before a Senate Judiciary hearing on nomination to be U.S. attorney general on Capitol Hill in Washington By Andy Sullivan and Sarah N. Lynch WASHINGTON (Reuters) - President Donald Trump's nominee for U.S. attorney general, William Barr, will likely have to explain his past criticism of Special Counsel Robert Mueller's probe of Russian election meddling at his Senate confirmation hearing starting on Tuesday. Senators
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Ex-Ivory Coast leader Laurent Gbagbo acquitted of war crimes

[ad_1] The International Criminal Court has acquitted former Ivory Coast president Laurent Gbagbo of crimes against humanity in a verdict seen as a stunning defeat for the global body’s first prosecution of a former head of state.The court in The Hague found that prosecutors had not presented enough evidence to prove Mr Gbagbo and his former youth minister were guilty of crimes including ordering rape, murder, persecution and “other inhuman
Business

Microsoft CEO Satya Nadella Leads Successful Revival

[ad_1] This article first appeared in Data Sheet, Fortune’s daily newsletter on the top tech news. To get it delivered daily to your in-box, sign up here. I spent Monday at Microsoft, a relatively humble, relatively quirky, and relatively confident company. Satya Nadella, just shy of five years into his tenure as Microsoft’s CEO, is well aware of the world’s view of his company’s rejuvenation—and he refuses to gloat out
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Republican John Kasich joins CNN as contributor as he considers 2020 run

[ad_1] Republican John Kasich is joining CNN as a senior political contributor after eight years as Ohio's governor – and as he thinks about making another run at the White House. Kasich, one of the most outspoken GOP critics of President Donald Trump, had been signalling to advisors and donors that he'd like to join either CNN or MSNBC, as CNBC first reported on Monday. His team and sources close
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A quarter of Canadians with home equity lines of credit are paying only the interest on their loans: survey

[ad_1] Just over one quarter of Canadians with home equity lines of credit are paying only the interest portion of the loan, a government survey found.Additionally, almost three in 10 respondents use such lines of credit at least some of the time to make payments on other debt, according to an online poll by the Financial Consumer Agency of Canada released Tuesday. The average HELOC holder at a federally regulated
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Govt to increase 25% seats in universities for 10% quota: Javadekar

[ad_1] The HRD Ministry announced on Tuesday that it will implement 10 per cent reservation for economically weaker section of the general category from the 2019 academic session and increase around 25 per cent seats in higher educational institutions and universities across the country. Union Human Resource Development Minister Prakash Javadekar informed that the decision was taken at a meeting of officials from the ministry, University Grants