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Economy

The International Energy Agency (IEA) last week lowered its growth forecast for oil demand for 2019 and 2020, blaming the ugly US-China trade dispute which has triggered fears of a global recession. The appointment of Prince Abdulaziz bin Salman as the new energy minister mirrors the ascent of his half-brother Crown Prince Mohammed bin Salman, the de facto ruler.
  • At least 1300 USA flights canceled ahead of Hurricane Dorian

    At least 1300 USA flights canceled ahead of Hurricane Dorian

    Economy

    Torrential downpours and massive flooding tore across the northwest Bahamas , with officials reporting a "tremendous" number of calls for help from the wrath of Hurricane Dorian. Prime Minister Hubert Minnis has confirmed at least five deaths on the Bahamas' Abaco Island, calling the destruction in the northern Bahamas "unprecedented and extensive".
  • Pro-Hong Kong Protest Students Gather in Downtown Bangkok

    Pro-Hong Kong Protest Students Gather in Downtown Bangkok

    Economy

    Hong Kong stocks jumped, led by property developers, after news reports said Lam will formally withdraw the extradition bill that sparked months of protests . "If Carrie is genuine in wanting to restore peace to Hong Kong society, a mere withdrawal of the bill is far from enough", said Alvin Yeung, a pro-democratic lawmaker.
  • A Conservative MP's defection just cost Boris Johnson his parliamentary majority

    A Conservative MP's defection just cost Boris Johnson his parliamentary majority

    Economy

    As protesters on the streets outside Parliament denounced a "coup", the lawmakers turned to a key piece of legislation that would prevent an immediate no-deal Brexit . The British pound has dropped below US$1.20 for the first time since 2017. The new chairman of the European Research Group of Conservative Eurosceptic MPs said if the Tories and Nigel Farage's party stand candidates against each other the result will be victory for a "Remain coalition".
  • A modified Bugatti Chiron hits speeds in excess of 300mph

    A modified Bugatti Chiron hits speeds in excess of 300mph

    Economy

    But this was not the ordinary sort of Chiron one can buy for $3 million from the Bugatti factory in Molsheim, France . On 2 August 2019, Andy Wallace hit a vmax of 304.77mph (490.48kph) in a go-faster Chiron at Ehra-Lessien, becoming the first hypercar to break 300mph.
  • Walmart will stop selling some ammunition and exit the handgun market

    Walmart will stop selling some ammunition and exit the handgun market

    Economy

    Additionally, Walmart will stop the sales of handguns in Alaska - the only state where they still sell them. Of its almost 5,000 USA stores, about half sell firearms. On August 3, a Walmart in El Paso was the scene of one of the worst mass shootings in American history. Walmart is also asking customers not to openly carry their firearms in the retail giant's US stores or in Sam's Club, another retail chain owned and operated by Walmart.
  • Tech boosts Wall Street after China trade comments

    Tech boosts Wall Street after China trade comments

    Economy

    Advancing issues outnumbered declining ones on the NYSE by a 1.38-to-1 ratio; on Nasdaq, a 1.05-to-1 ratio favoured advancers. The Dow Jones Industrial Average rose 212.99 points, or 0.82%, at the open to 26,249.09. Major U.S. stock indexes are closing little changed after a listless day of trading ahead of the Labor Day holiday weekend, capping a solid week of gains.
  • Orlando International Airport to remain open Monday

    Orlando International Airport to remain open Monday

    Economy

    Gov. Henry McMaster declared a state emergency for SC at midday Saturday in anticipation of Hurricane Dorian hitting the state. As of the 7:30am CDT update out of Miami , Hurricane Dorian remains a Category 4 storm with maximum sustained winds up to 145mph.
  • King Blasts Trump For Diverting Disaster Funds For Border Wall

    King Blasts Trump For Diverting Disaster Funds For Border Wall

    Economy

    Thursday on MSNBC's " Morning Joe ", host Joe Scarborough reacted to Fox News Channel anchor Shep Smith criticizing President Donald Trump for failing to deliver on his promise of a wall at the United States' southern border. In fact, Trump has repeatedly claimed that Congress sent $92 billion of aid to Puerto Rico when in fact data shows that the island had only received less than $14 billion.
  • India announces series of mergers of state-run banks

    India announces series of mergers of state-run banks

    Economy

    In other announcements of mergers, Sitharaman said that Union Bank, Andhra Bank and Corporation Bank will merge, while Indian Bank will merge with the Allahabad Bank , making it the seventh-largest bank in India. Also, with the merger proposals being pushed forward by the Centre as the majority shareholder rather than the bank boards, it is somewhat hard to rest hopes on overhaul of the governance at PSBs.