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India gold prices hit record high on safe-haven rush, weak rupee

Gold prices in India jumped over 2% on Monday to record levels amid a rush to invest in safe-haven assets globally as well as a steep fall in the rupee, dampening demand for the precious metal in the world’s second-biggest consumer. Local gold futures hit an all-time high of 41,096 rupees ($570.05) per 10 grams, taking their gains to more than 5% in 2020 after rallying nearly 25% in 2019. The sharp gold price rise has been deterring jewellers and retail buyers from making purchases, said Mukesh Kothari, director at dealer RiddiSiddhi Bullions in Mumbai. …read more […]

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United Gets Stingier With Customer Compensation for Flight Delays

If you take a delayed United Airlines flight and want compensation for your troubles, you may need to ask for it. United is no longer proactively offering voucers to customers on flights delayed fewer than six hours, according to a message sent to employees. The airline said it was making the change “based on feedback […] …read more […]

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Little Caesars to deliver pizza – finally – with DoorDash service

Little Caesars Enterprises Inc will partner with DoorDash Inc to provide pizza delivery services at 3,600 restaurants in the United States and Canada, starting on Monday, DoorDash said. While pizza restaurants helped pioneer the idea of delivering food to people’s houses years ago, Little Caesars – the world’s third-largest pizza chain – has not offered delivery until now. Little Caesars will not be listed on the DoorDash platform as a participating restaurant. …read more […]

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Defying gravity? What could bring U.S. stocks down to earth

The U.S. stock market’s relentless drive higher has caused some nail-biting on Wall Street that the rally is about to end. Geopolitical risks – such as the latest escalation of U.S. tensions with Iran – are just one on a list of worries for 2020. Stocks ended 2019 with their best year since 2013, with the benchmark S&P 500 rising nearly 29%. …read more […]

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Duterte’s Water Rants Threaten Philippine Pitch to Investors

(Bloomberg) — Soon after he became president of the Philippines in 2016, Rodrigo Duterte ordered government officials “to refrain from changing and bending the rules of government contracts.”Halfway through his six-year term, Duterte’s commitment is under question. In December, the firebrand leader ordered the renegotiation of long-agreed contracts for Manila Water Co. and Maynilad Water Services Inc. to supply the capital until 2037. He also said his government will not pay billions of pesos to Manila Water for delayed tariff increases as ordered by a court, while threatening to jail owners of both water providers.Stock Rout Hits $2.4 Billion on …read more […]

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Business News

Trump administration pressed Dutch hard to cancel China chip-equipment sale: sources

The Trump administration mounted an extensive campaign to block the sale of Dutch chip manufacturing technology to China, with Secretary of State Mike Pompeo lobbying the Netherlands government and White House officials sharing a classified intelligence report with the country’s Prime Minister, people familiar with the effort told Reuters.

…read more […]

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Defying gravity? What could bring U.S. stocks down to earth

The U.S. stock market’s relentless drive higher has caused some nail-biting on Wall Street that the rally is about to end. Geopolitical risks – such as the latest escalation of U.S. tensions with Iran – are just one on a list of worries for 2020. Stocks ended 2019 with their best year since 2013, with the benchmark S&P 500 rising nearly 29%. …read more […]

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Trading Ideas

Defying gravity? What could bring U.S. stocks down to earth

The U.S. stock market’s relentless drive higher has caused some nail-biting on Wall Street that the rally is about to end. Geopolitical risks – such as the latest escalation of U.S. tensions with Iran – are just one on a list of worries for 2020. Stocks ended 2019 with their best year since 2013, with the benchmark S&P 500 rising nearly 29%. …read more […]

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Borden Becomes Second Big U.S. Milk Producer to File for Bankruptcy

(Bloomberg) — Borden Dairy Co. filed for bankruptcy late Sunday, becoming the second major U.S. milk producer to do so in recent months as rising milk prices and other challenges made its debt load unsustainable.The Dallas-based company listed assets and liabilities of between $100 million and $500 million in its Chapter 11 filing in Delaware. The company, founded more than 160 years ago, said in a statement that operations will continue as normal during the reorganization.“Borden is EBITDA-positive and growing, but we must achieve a more viable capital structure,” Chief Executive Officer Tony Sarsam said in the statement, referring to …read more […]