• USA 'green growth' duo win Nobel Economics Prize
USA 'green growth' duo win Nobel Economics Prize

Professor Nordhaus who works at Yale University won the prize "for integrating climate change into long-run macroeconomic analysis". Nordhaus was recognized for his pioneering work in applying economic analysis to climate change forecasts.

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  • India buying Iran oil in defiance of Trump sanctions
India buying Iran oil in defiance of Trump sanctions

However, the Trump administration this weekend announced it is considering waivers on sanctions for countries that are merely reducing their imports of Iranian oil. According to CNBC, Pradhan said India may use rupees rather than dollars to buy the oil, in an attempt to skirt the sanctions. "Chatter that Saudi Arabia has replaced all of Iran's ...

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  • India to buy oil from Iran despite US sanctions
India to buy oil from Iran despite US sanctions

Front-month ICE Brent futures settled above $86/b Wednesday, the highest in four years, before dropping back below $85/b Thursday. The Indian government "has conveyed to the Trump administration that India is a fit case for a presidential waiver from the provisions of Countering America's Adversaries Through Sanctions Act (CATSA) on Russian F...

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  • United States unemployment rate falls to 3.7 pct in September
United States unemployment rate falls to 3.7 pct in September

The figures suggest the job market remains tight - with hiring outpacing labor-force growth and perhaps pushing the economy beyond full employment - though it's yet to spark a significant acceleration in wages. Job gains in July and August were revised up a combined 87,000 from the original reports . Bond prices fall when yields rise. The annual a...

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  • Merced retail store to close following corporate bankruptcy
Merced retail store to close following corporate bankruptcy

The largest USA mattress retailer, Mattress Firm , said Friday it has filed for Chapter 11 bankruptcy protection , as its corporate parent battles an accounting scandal and the retailer grapples with an onerous store footprint. Online reviews have replaced going to a store to lie down on a mattress. A Mattress Firm store, a brand owned by Ste...

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  • Rupee hits new low of 73.34
Rupee hits new low of 73.34

The latest rupee sell-off is a mirror image of the sell-off in 2013, and the RBI's response back then was just as lacklustre as it is today. The rupee touched a life-time low of 73.41 against the U.S. Admitting that the country has not been immune to global spillovers from external factors, Patel said, "The rupee fall, in some respect, is...

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  • United States jobless rate falls to 49-year low
United States jobless rate falls to 49-year low

Still, should the tariffs remain fully in effect a year from now, roughly 300,000 jobs could be lost by then, according to estimates by Mark Zandi, chief economist at Moody's Analytics. However, the number of jobs added was only 134,000, down from 270,000 in August. "If unemployment is low, it means more people are working". An Institute for Supp...

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  • Theresa May facing enormous challenge as Brexit deadline looms
Theresa May facing enormous challenge as Brexit deadline looms

EU President Donald Tusk warned Britain's Prime Minister Theresa May on Thursday that, with her Conservative Party conference finished, she must make a serious effort to negotiate a Brexit deal. Theresa May namechecked the NHS more than Brexit in her conference speech, and did not utter the word Chequers once. And last week, I was at th...

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  • India Introduces Fuel Relief On Rising Prices At The Pump
India Introduces Fuel Relief On Rising Prices At The Pump

Soon BJP ruled states Maharashtra, Gujarat, Assam, MP, UP, Tripura , Himachal, Chhattisgarh, Jharkhand and Uttarakhand among others announced Rs 2.5 per litre cut in Value-Added Tax on petrol and diesel prices . The price cut would be effective from midnight tonight. "We are now working out a formula to bring down the diesel prices by at least ...

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  • US, Canada in last-minute NAFTA deal
US, Canada in last-minute NAFTA deal

The US and Canada have reached a deal to reform the North American Free Trade Agreement (Nafta ) after last minute negotiations. The academician indicated in The Globe and Mail that under pressure from Washington, the Ottawa government has ceded a vital part of Canadian sovereignty to the United States.

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  • VP Mike Pence LASHES OUT: China 'Wants A Different American President'
VP Mike Pence LASHES OUT: China 'Wants A Different American President'

Dairy Export Council. "We are requiring a large portion of every vehicle to be made by high-wage workers, which will greatly reduce foreign outsourcing, which was a tremendous problem, and means more auto parts and automobiles will be manufactured inside the United States".

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  • Toyota recalls more than 2.4 million hybrid cars over crash fault
Toyota recalls more than 2.4 million hybrid cars over crash fault

Another one million were sold in Japan, 830,000 are in North America, 290,000 in Europe, 3,000 in China, as well as other countries across the world. The problem identified arises when the cars fail to enter "failsafe driving mode as intended".

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  • Pence to Step Up U.S. Criticism of Beijing
Pence to Step Up U.S. Criticism of Beijing

The comments echoed those by President Donald Trump recently. "China has initiated an unprecedented effort to influence American public opinion, the 2018 elections, and the environment leading into the 2020 presidential elections", Pence said.

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  • Musk mocks 'Shortseller Enrichment Commission' after SEC settlement
Musk mocks 'Shortseller Enrichment Commission' after SEC settlement

The SEC did not respond to requests for comment on Nathan's order and Musk's tweet . This likely explains why Tesla's board of directors released a statement saying they're "fully confident in Elon, his integrity, and his leadership of the company".

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  • Rupee Hits New All-Time Low Of 73.77 Against Dollar
Rupee Hits New All-Time Low Of 73.77 Against Dollar

The monetary policy stance has changed from neutral to "calibrated tightening". RBI in its monetary meet has left the repo rate unchanged. But since global commodity prices other than oil have moderated, it should mitigate the adverse influence on input costs, the central bank observed.

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  • Trade deal returns USA to ‘manufacturing powerhouse’
Trade deal returns USA to ‘manufacturing powerhouse’

But he stressed the government is committed to compensating them for any financial hit. How will Clause 32 affect future trade deals between Canada and other nations? However, the new agreement mandates that the deal be reviewed in six years.

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  • Apple Condemns Reports of Chinese Spy Chips Hacking Its Servers
Apple Condemns Reports of Chinese Spy Chips Hacking Its Servers

A third-party test of Elemental's Super Micro-assembled servers turned up those tiny, malicious chips, a discovery Amazon reportedly shared with USA authorities at the time. Apple Inc and Amazon denied the Bloomberg report that their systems contained malicious computer chips inserted by Chinese intelligence. "It's untrue that AWS knew abou...

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  • Petrol prices cut by Rs 5 in Maharashtra
Petrol prices cut by Rs 5 in Maharashtra

Uttar Pradesh also reduced the fuel price by Rs 2.5 per litre giving a relief to consumers. Kerala Finance Minister Thomas Isaac however, said his government would not cut fuel prices, News18 reported. The Centre and oil companies will also take a hit of Rs 1.50 per litre and Re 1 per litre respectively in their revenue. Since mid-August, ...

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  • Dairy farmers slam new trade deal
Dairy farmers slam new trade deal

But Canada has been obliged to make concessions, in particular allowing United States dairy farmers access to about 3.5 percent of its $16 billion (13.8€ billion) domestic market. The deal, secured shortly before a midnight deadline last Sunday, ensures Canada won't be affected by tariffs unless exports top 2.6 million units annually.

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  • Trump gets oil traders' attention over call with Saudi king
Trump gets oil traders' attention over call with Saudi king

More fundamentally, oil markets have been pushed up by looming USA sanctions against Iran's oil industry, which, at its most recent peak this year, supplied nearly 3% of the world's almost 100-million barrels of daily consumption. The US President Donald Trump reviewed on Saturday in a phone call with Saudi King Salman bin Abdulaziz Al Saud t...

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