• European Union slams Italy's 'unprecedented' deviation from budget rules
European Union slams Italy's 'unprecedented' deviation from budget rules

In an October 15 report, the Bank of Italy said that at the end of 2017, the nation's public debt stood at 2.26 trillion euros, or 131.2 percent of gross domestic product (GDP). The currency markets also reacted to the news of the Commission's letter with concern, causing the Euro to devalue to a one-week low against the U.S.

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  • Drawbacks to Musk's Cheaper Model 3
Drawbacks to Musk's Cheaper Model 3

Tesla said it has used the same battery pack as the long-range version with fewer cells for the mid-range version. It's not clear if this timetable for the debut of the midrange model was originally planned by Tesla , or if the timing was pushed up due to other factors such as gaining orders ahead of the halving of the $7,500 federal tax credit l...

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  • Saudi operative wore Khashoggi’s clothes, acted as decoy to fool Turkish police
Saudi operative wore Khashoggi’s clothes, acted as decoy to fool Turkish police

He said on Sunday he would speak to Saudi crown prince Mohammad bin Salman "very soon" before deciding what to do. The French presidency says France's President Emmanuel Macron and President Donald Trump shared their concerns about the circumstances that led to the death of Saudi journalist Jamal Khashoggi .

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  • Lottery Fever Spurs Ticket Sales As Mega Millions Jackpot Approaches $1 Billion
Lottery Fever Spurs Ticket Sales As Mega Millions Jackpot Approaches $1 Billion

Officials raised the estimated jackpot Thursday for the second time because of strong sales ahead of Friday night's drawing for what would be the second-largest lottery jackpot in US history. Lottery fever is sweeping the nation with a Mega Millions jackpot that is worth a cool $1 billion. - Millions are on the line after this week's lottery dr...

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  • Audio recording emerges of 'murder' of Saudi journalist
Audio recording emerges of 'murder' of Saudi journalist

Before Trump spoke, the administration announced that Treasury Secretary Steven Mnuchin had pulled out of a major upcoming Saudi investment conference and a USA official said Secretary of State Mike Pompeo had warned the Saudi crown prince that his credibility as a future leader is at stake.

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  • Reliance Industries halts Iranian oil imports ahead of US sanctions
Reliance Industries halts Iranian oil imports ahead of US sanctions

Earlier last week, Trump said during an interview that he will impose severe punishment if Saudi Arabia is confirmed to be behind Khashoggi's alleged death. U.S. President Donald Trump said the Saudi crown prince intends to expand an investigation into the disappearance of Khashoggi and that the prince did not know what happened in the Turkis...

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  • Mega Millions jackpot nears record
Mega Millions jackpot nears record

That distinction goes to the $1.586 Powerball jackpot in 2016 that was shared by three winners, including a Chino Hills couple. The cash option, which is favored by almost all winners, is $372 million. Still, even the combined total wouldn't break the record US lottery prize. Before claiming the prize, the lucky victor must first sign the b...

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  • Oil extends losses as markets fall, inventories climb
Oil extends losses as markets fall, inventories climb

Volumes for Brent are four times the average for the Asian timezone, while WTI contracts were about 75 percent above typical turnover, McCarthy said . US crude stocks rose last week as refineries cut output, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration said on Thursday.

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  • OPEC compliance with oil production cut agreement equals 121% in September
OPEC compliance with oil production cut agreement equals 121% in September

The price of global benchmark Brent crude has slid over $45 a barrel in June 2017 and peaked at over $85 in October. USA light crude dropped $1.42, or 1.9 percent, to $71.75 after hitting a low of $71.63. "For oil, it's important to look at the fundamental side because the recent decline is due to the risk-off sentiment across markets", Min Byu...

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  • Facebook now says data breach affected 29 mln users, details impact
Facebook now says data breach affected 29 mln users, details impact

Other 15 million users had their names and contact information breached, and 1 million users exclusively had their access tokens stolen; Facebook has reset the access tokens for all of those users. Facebook indicated that hackers stole access tokens through its "view as" feature. The breach has left users more vulnerable to targeted phishi...

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  • Despite rising oil prices, airline reintroduces world's longest commercial flight
Despite rising oil prices, airline reintroduces world's longest commercial flight

With enthusiasm and a bit of anxiety, 150 people today boarded to an Airbus , which took off from Singapore for a 19-hour marathon flight to NY. While 67 people in business class and around 94 in premium economy, with no regular economy seats available.

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  • Pakistan's currency plunges as it seeks IMF loan
Pakistan's currency plunges as it seeks IMF loan

The United States and China have slapped tit-for-tat tariffs on hundreds of billions of dollars of each other's goods over the past few months, rattling financial markets as investors worry that the escalating trade conflict could knock global trade and investment.

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  • British PM May briefed inner cabinet 'Brexit deal close'
British PM May briefed inner cabinet 'Brexit deal close'

The Office for Budget Responsibility (OBR) said it may take "many years" for free trade agreements to generate significant benefits for the United Kingdom after it leaves the European Union. In a Q&A session with Reuters, Tony Blair advised parliamentarians to vote the Brexit deal down. Jacob Rees-Mogg, leader of the influential European Resear...

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  • Despite the Looming US Sanctions, India to Continue Buying Iranian Oil
Despite the Looming US Sanctions, India to Continue Buying Iranian Oil

Saudi Arabia is a major investor in Turkey, despite Ankara's support for the Gulf nation of Qatar, which is under a blockade led by Saudi Arabia and three other Arab nations. A second round of sanctions targeting Iran's oil sector is due to go into effect on November 5. He also noted that triple digit prices "would require a sustainable outage...

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  • Scam Alert: Don't Fall For This Facebook 'Friend Request From You' Message
Scam Alert: Don't Fall For This Facebook 'Friend Request From You' Message

Have you seen those warnings on Facebook from some of your friends? The messages begin with "Hi...." So by sharing it, you're probably not going to do any harm, other than making yourself look a bit gullible, but you're also not doing anyone any favours.

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  • India's currency falls to all-time low against USA dollar
India's currency falls to all-time low against USA dollar

The Monetary policy committee may raise rates by 25 basis points on Friday, the third time this year, amid a higher crude and the weakening rupee , according to a Bloomberg survey. With the rupee falling against the greenback, rising crude oil prices have a compounding effect on consumers in emerging market economics like India, analysts said.

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  • Maharashtra, Gujarat cut fuel prices by Rs 2.50; Kerala, Karnataka refuse
Maharashtra, Gujarat cut fuel prices by Rs 2.50; Kerala, Karnataka refuse

He also said he would write to all the states to cut their respective taxes. Soon, several other NDA-ruled states - Chhatisgarh, Tripura, Jharkhand, Madhya Pradesh, Uttar Pradesh , Haryana, Assam, Uttarakhand, Goa, and Himachal Pradesh - followed suit.

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  • Oil steadies below four-year highs; US inventory rise expected
Oil steadies below four-year highs; US inventory rise expected

This would be the first highest trade deal hitting above the USD$85 per barrel threshold since November of 2014. Brent has risen by more than 20% from its most recent lows in August, Reuters reported. The further rise in oil prices came on the back of supply concerns before United States sanctions against Iran come into force next month. The ...

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  • Amazon raising minimum wage for US workers to $15 per hour
Amazon raising minimum wage for US workers to $15 per hour

In a statement , CEO Jeff Bezos said that "we listened to our critics, thought hard about what we wanted to do, and decided we wanted to lead". Amazon purchased the Whole Foods grocery chain in August 2017. The company, which bought Whole Foods Market in a $13.7 billion deal a year ago, opened a general store in New York City in September af...

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  • Tesla is 'very close' to profitability, Musk says in staff email
Tesla is 'very close' to profitability, Musk says in staff email

As part of the settlement, Tesla will name two new, independent directors to its board. This sees the CEO and Tesla each paying a $20 million fine , while Musk will be replaced by an independent Chairman, unable to put himself up for re-election for a minimum of three years .

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  • Tesla stock soars as Musk taunts the SEC with a tweet
Tesla stock soars as Musk taunts the SEC with a tweet

The US Securities and Exchange Commission said on Saturday that car-maker Tesla and Chief Executive Elon Musk had agreed to pay $20 million each under a settlement that will also see the billionaire step down as chairman after a tumultuous two months for the company.

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  • New Tesla chairman must rein in CEO Elon Musk at key moment
New Tesla chairman must rein in CEO Elon Musk at key moment

Shares of Tesla Inc jumped almost 15 percent on Monday after Chief Executive Elon Musk settled a lawsuit from the US Securities and Exchange Commission ( SEC ) that sought to remove him from company management. In two emails obtained by CNBC , Musk told staff that Tesla is close to achieving an "epic victory" on its production goals and tu...

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  • Nafta: Donald Trump says U.S. 'not getting along' with Canada
Nafta: Donald Trump says U.S. 'not getting along' with Canada

Asked about the challenge that autos tariffs would pose, Trudeau said Canada would need to feel confident "about the path forward as we move forward - if we do - on a NAFTA 2.0". Canada's dairy market has remained largely closed to the U.S. ever since American dairy farmers were caught excessively dumping products inside of Canada's markets sev...

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  • Oil producers to continue working to boost output
Oil producers to continue working to boost output

OPEC also decided on Sunday to adjust the dates of its next meeting to December 6-7 from the earlier-agreed December 3. Concerns about production shortfalls are encouraging traders to place more long bets, boosting Brent prices , said Brian LaRose, a technical analyst at United-ICAP.

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  • China won’t hold trade talks unless Donald Trump stops threats
China won’t hold trade talks unless Donald Trump stops threats

US tariffs on $200 billion worth of Chinese goods and retaliatory taxes by Beijing on $60 billion worth of USA products including liquefied natural gas (LNG) kicked in on Monday, unnerving global financial markets. measures "have made it impossible for the negotiations to proceed" and blamed the USA for abandoning a consensus on trade that was st...

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  • Jet Airways: Passengers hurt as pilots 'forget' cabin pressure
Jet Airways: Passengers hurt as pilots 'forget' cabin pressure

A source at Mumbai airport claimed the aircraft made an emergency landing while the airline maintained it landed normally. All guests were deplaned safely . Additionally, a few passengers have been taken to the hospital for check-up. The flight landed safely. He complained that the safety of passengers was being ignored.

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  • Global oil demand to top 100 mln bpd but outlook may cloud
Global oil demand to top 100 mln bpd but outlook may cloud

Futures in NY dropped as much as 1.8 percent after closing at the highest in nearly two months. Benchmark Brent crude oil was down 65 cents a barrel at $79.09 by 1200 GMT. Iranian crude exports have fallen significantly before USA sanctions even take effect, the IEA said in a monthly report. Outside the United States , traders have been focusi...

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  • Dena Bank, Vijaya Bank and Bank of Baroda to be merged
Dena Bank, Vijaya Bank and Bank of Baroda to be merged

Rajiv Kumar, Department of Financial Services Secretary at the Ministry of Finance, Government of India, said that the decision was arrived to create India's 3rd largest globally competitive bank. Cheered by the news, Dena Bank hit an upper circuit limit of 20 per cent in the opening deals while Vijaya Bank was trading flat at Rs 60.20 apiece on B...

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  • Is Coca-Cola Making A Marijuana Move?
Is Coca-Cola Making A Marijuana Move?

Coca-Cola is in " serious talks " to develop cannabis-infused drinks as more countries move to legalise the drug. " The space is evolving quickly", spokesman Ken Landers told Bloomberg . Coca-Cola, the Atlanta-based soft drink giant, is reportedly in talks about creating a CBD-infused soft drink. Coke says these cannabis drinks appear to b...

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  • US$200 billion in Chinese goods officially 'Tariffed!'
US$200 billion in Chinese goods officially 'Tariffed!'

The latest round of imports will face 10 percent tariffs through the end of the year, and then the rate will jump to 25 percent. But there is little prospect of such an outcome because, while the United States is demanding that the trade deficit with China be reduced, the conflict does not merely centre on that issue.

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