• Sears CEO steps in for bankruptcy financing
Sears CEO steps in for bankruptcy financing

Under the bankruptcy plan, Mr Lampert's executive role will be replaced by a three-person committee, though he will remain as chairman of the board. "The Company and certain of its subsidiaries have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S.

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  • Century-old USA retailer Sears files for Chapter 11 bankruptcy
Century-old USA retailer Sears files for Chapter 11 bankruptcy

Sears Holdings ( SHLD ), the parent company of Sears and Kmart, faces a Monday deadline to pay that much in debt. "While we have made progress, the plan has yet to deliver the results we have desired, and addressing the company's immediate liquidity needs has impacted our efforts to become a profitable and more competitive retailer".

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  • Turkey and Saudi Arabia to jointly inspect consulate in disappearance row
Turkey and Saudi Arabia to jointly inspect consulate in disappearance row

Turkish officials have said they fear a Saudi hit team killed and dismembered Khashoggi, who wrote critically of Saudi Crown Prince Mohammed bin Salman. "If there is any lasting change in investor willingness to engage with Saudi Arabia, it could lead to slower and less complete implementation of some Vision 2030 initiatives, and greater need for...

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  • IEA cuts oil demand forecasts but sees prices staying high
IEA cuts oil demand forecasts but sees prices staying high

Global oil supply is growing fast; in September, world oil production, at around 100 mb/d, was 2.6 mb/d higher than a year ago, according to the IEA estimates. That was much larger than what analysts had expected. Oil traders will watch Friday afternoon for the USA rig count, an indicator of upcoming production, which is expected at 1 p.m.

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  • Saudi Arabia rejects threats to undermine Kingdom
Saudi Arabia rejects threats to undermine Kingdom

The Saudi stock market lost $US33 billion of its value on Sunday amid investor worries about deteriorating worldwide relations, one of the first signs of the economic pain that Riyadh could suffer over the affair. Earlier, several United States companies and business leaders pulled out of an upcoming The Future Investment Initiative conference ...

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  • Mega Millions Jackpot Expected To Climb to More Than $650 Million
Mega Millions Jackpot Expected To Climb to More Than $650 Million

Not bad for a couple of $2 tickets. Friday's drawing was the 23rd time no one matched all six numbers. It was the 22nd consecutive drawing that no one matched all six numbers. Or ask for a Quick Pick. Friday's jackpot is likely to beat the third-highest total of $540 million from July 2016, depending on ticket sales. Powerball has yielded no wi...

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  • World’s longest non-stop flight arrives in United States from Singapore
World’s longest non-stop flight arrives in United States from Singapore

They get extra down time on board, with at least eight hours of rest, compared with 5 1/2 hours on a typical long-haul service, according to Singapore Air. "We are mainly anxious about cases of deep vein thrombosis" that can be caused by long-standing passengers and dehydration, said Gheel Kro, a consultant at Singapore's National University Ho...

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"Severe punishment" for Saudis if they killed Khashoggi

She had appealed for help to Trump, who earlier this week said he would invite her to the White House. In a clip broadcast on " CBS This Morning", Mr. Some U.S. lawmakers have said Washington should block military sales to Riyadh if the allegations are proven. Trump on Friday said he will be calling King Salman to discuss the disappearance o...

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  • Oil prices slump 2pc as Wall Street slides
Oil prices slump 2pc as Wall Street slides

They earlier touched their lowest since September 27 at $81.35, after closing 2.2 percent lower on Wednesday. Recently, Brent crude futures were dropped by more than 1% in Asia as stated by a survey of S&P Global Platts . Gulf of Mexico wells on Wednesday because of platform evacuations and shut-ins ahead of Hurricane Michael. The world will ...

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  • Mnuchin: Trump respects Fed but likes low interest rates
Mnuchin: Trump respects Fed but likes low interest rates

President Donald Trump blamed the Federal Reserve for Wednesday's 832-point stock dive. The average yield on the 100 largest taxable US money-market mutual funds averaged 1.95 percent this week, according to Crane Data. When a bond is paying more in interest, investors aren't as willing to pay high prices for stocks, which are riskier investme...

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  • Elon Musk May Be Getting Into the Booze Business
Elon Musk May Be Getting Into the Booze Business

On April 1 he tweeted: " Tesla goes bankrupt". Tesla filed a trademark for Teslaquila with the US Patent and Trademark Office earlier this week. Musk will remain as CEO. Mr Murdoch, the younger son of Rupert Murdoch , has served on Tesla's board since 2017. In addition, he stepped down as chairman of United Kingdom -based satellite TV o...

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  • How to check what hackers accessed in your Facebook account
How to check what hackers accessed in your Facebook account

However, hackers apparently did not have access to any third-party app data. When Facebook disclosed the breach two weeks ago , company officials said they didn't know who was behind the attacks or where they might be based. But Facebook is also describing some of the data that was accessed, and it's truly exhaustive. At the time, chief ex...

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  • Singapore Airlines launches world's longest flight to NY
Singapore Airlines launches world's longest flight to NY

Singapore Airlines is set to launch a new non-stop service between Singapore and NY on Thursday, with a flight time of 18 hours and 45 minutes - and they'll be farewelling squishy economy seats for the plush new service. The aircraft can fly for over 20 hours or 18,000km (11,250 miles) non-stop. The airline is not planning to offer any econo...

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  • China's September trade surplus with US widens to record $34.13 billion
China's September trade surplus with US widens to record $34.13 billion

In fact, the September surplus with the US was larger than China's overall trade surplus of $31.69 billion for the month. Over the first nine months of the year, China's surplus with its largest export market totaled $225.79 billion, compared with about $196.01 billion in the same period last year.

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  • International Monetary Fund warns Nigeria on tough times ahead
International Monetary Fund warns Nigeria on tough times ahead

The IMF predicts the global economy will grow by 3.7 percent in 2018 and 2019 - a 0.2 percentage point downward revision from previous forecasts. The fund cut its 2019 United States growth forecast from 2.7 per cent to 2.5 per cent, and the China growth forecast from 6.4 per cent to 6.2 per cent.

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  • Brexit deal next week 'within reach': Barnier
Brexit deal next week 'within reach': Barnier

British and European Union negotiators are understood to have agreed in principle to an all-UK backstop plan to avoid a hard border in Northern Ireland that would remove the final major obstacle blocking a withdrawal agreement. This, however, would raise the prospect of increased regulation checks between Northern Ireland and the rest of the UK. ...

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  • Trump on 831 Stock Market Drop: Fed Has Gone Crazy
Trump on 831 Stock Market Drop: Fed Has Gone Crazy

The Federal Reserve has been gradually raising interest rates to less stimulative levels in response to strong growth in the USA economy and historically low unemployment levels. The Federal Reserve has steadily tightened monetary policy amid an economic boom in the United States, something Trump has repeatedly criticized.

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  • Dow Jones industrials sink 700 points as bond yields rise
Dow Jones industrials sink 700 points as bond yields rise

All of those factors could threaten the impressive profits Corporate America has been reporting this year. All 30 of the Dow's stocks were in the red and it fell below 26,000 total points for the first time in a month, CNN reported . "If the Feds are insane, this market reaction is bordering on insanity, as so many negative crosscurrents collide...

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  • Pakistan poised to seek bailout from International Monetary Fund to stabilise economy
Pakistan poised to seek bailout from International Monetary Fund to stabilise economy

Indonesia has been swept up in the market turmoil triggered by rising US interest rates and a stronger dollar, which has pushed the rupiah down 11 percent this year. "Looking ahead, renewed impetus to reform labour and land markets, along with further improvements to the business climate, are also crucial", it said.

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  • Trump calls stock sell-off a correction, says Fed ‘crazy’
Trump calls stock sell-off a correction, says Fed ‘crazy’

The Fed has "gone insane", he said. Earlier, Asian markets saw sharp drops as US President Donald Trump said the US Federal Reserve had "gone crazy" with plans for higher interest rates. A spike in Treasury yields and solid U.S. economic data have sparked concerns that the Federal Reserve may pick up the pace of its interest rate hikes.

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