USDA monthly outlook reported that soybean crops are expected to reach a record high harvest in six years, thus lowering the price in CBOT. Two other U.S. major crops, corn and wheat also estimated to produce higher than expected result.
Industry
Australian Prime Minister Urges Chinese Premier for speedy Environmental Test on coal imports
Australian Prime Minister Malcolm Turnbull urged Chinese Premier Li Keqiang to hasten environmental tests of sulfur content on coal imports as Australian exporters claim that the new standards disrupts the trade and drives down the already low prices.
Lockheed-Boeing JV to fly into satellite launching space
United Launch Alliance (ULA), a joint venture (JV) between Lockheed Martin and Boeing, is entering into miniature satellites segment. ULA is planning to launch a CubeSat carrier by mid 2017. ULA will explore business potential in launching small satellites for earth imaging, weather forecasting, internet relays, etc.
Visa working on Blockchain-based remittance project
For a quicker and consumer-friendly remittance service, Visa Inc is working on a proof of concept for Blockchain-based remittance system through its subsidiary Visa Europe.
Charles Smith’s Urban Winery launches in Seattle
Charles Smith has touched down the ground in Georgetown with the opening of Charles Smith Wines Jet City. The new Urban Winery is now considered as the largest urban winery on the west coast.
Latest News
When Lehman Brothers collapse in 2008, it created a global economy setback. Global financial authorities work hard to prevent it from recurring. Now, they introduced new rules for the world's biggest banks to increase their cash reserve and avoid taxpayers bailouts.
US retailers have started flexing their muscles to meet the buying demand during the forthcoming holiday season. Retailers such as Amazon have started hiring in number running over thousands.
The Gap Inc (Gap Inc) share fell over five percent to $27.69 and later rebounded to $28.45 a share on funds buying support on New York Stock Exchange (NYSE).
German industrial production went down 1.1 percent month-on-month for the third quarter. According to Bloomberg Business, Berlin Economy Ministry reported the decline Friday, while economists expected a 0.5 percent increase. Germany has been struggling with the Chinese economic slowdown. The country is also grappling with the economic slowdown in other emerging countries where it exports most of its products.
Best Buy will hold a one day in-store-only pre-Black Friday event on Saturday, offering exciting brands including Samsung, Sony TVs, PlayStation 4, Xbox, and Apple products. Gotta Be Mobile has reported that the sale would be held in 400 locations and buyers can save $70 up to $1,200 on their favorite tech brands. The event will be in a four hour window from 1 p.m. to 5p.m. local time.
MetLife Inc suffered 43 percent drop in profit for the third quarter due to bleak investment results and tax costs associated with the UK subsidiary which impacted the financial performance of the largest life insurer in the US.
Amazon launched its Black Friday Deals store in the first day of November as start of a countdown to one of the biggest shopping days of the year.
Contrary to economists' expectations, the number of approvals in UK mortgages suddenly dropped in September for the first time in the past four months. The mortgages rose significantly in August indicating the highest level since early 2014.
Gold prices are at their lowest in three weeks after the Federal Open Market Committee announced that they won't push through with the interest rates hike.
