Day: January 31, 2017

U.K. Lawmakers Set to Begin Two-Day Brexit Debate

U.K. lawmakers will begin a two-day debate Tuesday on a bill that could allow Prime Minister Theresa May to quickly trigger the country’s exit process from the European Union. U.K. lawmakers will begin a two-day debate Tuesday on a bill that could allow Prime Minister Theresa May to quickly trigger the country’s exit process from the European Union.

Turkey tourism suffering from security worries

Official figures show Turkey’s tourism revenue dropped nearly 30 percent in 2016 from the year before as potential holidaymakers opted to stay away because of the worsening security situation in the country. According to data released by the Turkish Statistics Institute on Tuesday, tourism revenue in 2016 amounted to $22.1 billion – a drop of 29.7 percent from 2015.

Carlson Managers Warn Trade War Could Trigger Global Depression

President Donald Trump’s policies may have dire consequences for the U.S. and the global economy, say money managers at hedge fund firm Carlson Capital. The president’s attempts to tax imports and subsidize exports could touch off a depression, money managers Richard Maraviglia and Matt Barkoff warned in a quarterly letter to clients in the Black Diamond Thematic fund.

European Stocks Climb Higher on Solid Economic Data

European stocks rebounded firmly in early Tuesday trading as investors appeared to shrug off concerns over a gathering political crisis in the United States and focused on improving economic conditions. European stocks rebounded firmly in early Tuesday trading as investors appeared to shrug off concerns over a gathering political crisis in the United States and focused on improving economic conditions in the region after sold growth figures from one of its biggest economies.

Nintendo Cuts Profit Outlook as Outgoing Wii U Drags Down Sales

The game developer has already wound down the production of the Wii U ahead of its release of Nintendo Switch. Nintendo cut its profit outlook for the ongoing year after the Japanese game developer reported a sales slump in its Wii U game console which dampened robust performances in the 3DS and the newly-released Super Mario games.

Wal-Mart Takes Latest Shot at Amazon

Wal-Mart Stores will offer U.S. shoppers free two-day shipping on a minimum order of $35 starting Tuesday, its latest attempt to compete with rival Amazon.com popular Prime shipping program. Free shipping will replace ‘Shipping Pass’, Wal-Mart’s existing two-day shipping program that charges shoppers an annual membership fee of $49.

Fired: Trump Dumps Top Lawyer Who Defied Immigration Order

President Donald Trump fired top federal government lawyer Sally Yates on Monday after she took the extraordinarily rare step of defying the White House and refused to defend new travel restrictions targeting seven Muslim-majority nations. It was another dramatic twist in the unusually raucous roll-out of Trump’s directive that put a 120-day hold on allowing refugees into the country, an indefinite ban on refugees from Syria and a 90-day bar on citizens from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen.

Wal-Mart opts for free, faster shipping on necessities

Wal-Mart is replacing a program that offered free shipping but had an annual fee with one that has a lower free shipping threshold and faster delivery as it hopes to answer Amazon’s powerful Prime membership success. The retailer says it will reduce shipping time to two days on 2 million of its most popular essentials like diapers, pet food and cleaning supplies.

Deutsche Bank to pay $425M to settle New York probe

Deutsche Bank will pay $425 million to settle an investigation by a New York state regulator into a $10 billion money laundering scheme. The Department of Financial Services said Monday Deutsche also must hire an independent monitor as part of a consent order for violations of laws involving a “mirror trading” scheme.

Casino mogul Adelson pulls out of Raiders-Vegas stadium deal

Billionaire casino mogul Sheldon Adelson pulled out of a deal Monday to build a $1.9 billion domed stadium for the Oakland Raiders in Las Vegas. The move comes on the heels of a team proposal to pay $1 a year in rent and operate the stadium, and it deprives the project of a chief financial backer as officials seek to bring professional football to Las Vegas for the first time.

Walmart’s latest bid to battle Amazon: Free two-day shipping on 2 million items, without a membership

Walmart announced Tuesday that it is now offering free two-day shipping on millions of items on its website when they’re combined into orders that total at least $35, an aggressive play to snatch e-commerce business away from Amazon.com. One of the cornerstones of Amazon’s online shopping dominance has been its Prime program, in which members pay $99 per year for two-day shipping on many purchases.

Shell’s Divestment Push Reaches Thailand in $900 Million Sale

Royal Dutch Shell Plc will sell its stake in an offshore Thai gas field to a unit of Kuwait Petroleum Corp. for $900 million as the international energy giant continues hawking assets for cash in the midst of a years-long energy slump. Shell reached an agreement to sell two subsidiaries that own a combined 22.2 percent interest in the Bongkot field and adjoining offshore acreage to a subsidiary of Kuwait Foreign Petroleum Exploration Co., the unit known as Kufpec, Shell said in a statement Tuesday.

Futures, Asia Lower As Trump Uncertainty Weighs Ahead of Earnings

Futures for U.S. markets pointed toward a lower open Tuesday as investors remain concerned about the turmoil caused by President Donald Trump’s executive order on immigration. The S&P 500 pared 0.25%, the Dow Jones Industrials 0.25% and Nasdaq 0.24% at 11:08 p.m. EST, ahead of Tuesday when a host of companies are set to report earnings.