Wall Street dips with financials, weak China data

U.S. stocks slipped on Thursday led by falls in financial shares and following weak Chinese economic data but a late-day rebound in oil prices limited the day’s decline.Financials, which have been under pressure following negative news on Deutsche Bank (DB.N) and Wells Fargo (WFC.N), were down ahead of quarterly results due Friday from Wells Fargo, JPMorgan Chase (JPM.N) and Citigroup (C.N). The SP financial index .SPSY fell 1.1 percent.Reviving concerns about the health of the world’s second-largest economy, data showed China’s exports fell 10 percent in September, far worse than markets had expected, while imports unexpectedly shrank.Stocks pared losses late along with energy shares. Oil prices rebounded to end higher. A U.S. government report of larger-than-expected…

E-retail, allied sectors to create 1.45 mn jobs by 2021: Report Besides, online seller base is projected to grow to 1.3 million by 2020 and expected to add more than 10 million net new jobs. (Image credit: Tech Story) India’s e-retail and allied sectors including logistics, warehousing and IT/ITeS are expected to create about 1.45 million direct jobs by 2021, a joint report by Snapdeal and KPMG said today. Logistics and warehousing sector is expected to be the largest contributor creating direct employment opportunities for about 1 million, while e-tailing is expected to add 0.4 million high-skilled jobs by 2021, the study titled ‘Impact of Ecommerce on Employment in India’ said. “Through this report, we aim to highlight how the industry is generating direct and indirect jobs in core and associated industries, creating entrepreneurship opportunities in the deepest pockets of India and...

6 Simple Ways to Motivate Yourself to Work Even if You Don't Feel Like it Image Credit You know that feeling where you have everything you need to have a productive day at work but for some reason you can't get yourself to move a muscle? Don't worry. You're not the only person who has felt that way. You may have an ideal work space in the perfect location, furnished and decorated in a way to get you in the right vibe to work. But it is not enough. There are other factors that will help get you in the mood to be productive. Here are ways you can jumpstart your day and motivate yourself to get in the groove of working. 1. Start your day with a positive affirmation Positive affirmations have the power to set you in the right frame of...

Take a step into the ‘known unknowns’ Political turmoil rarely has a lasting impact on investment markets and household finances and Donald Trump’s victory is unlikely to be an exception. However, the implications for interest rates, currencies, stock markets, pensions and the wider global economy could be widely felt over the coming months. The two days following the election saw a brief FTSE rally from an initial dip, the Dow Jones reach a record high, European sovereign bond prices plunge and Asian currencies and shares hit by turbulence. The volatility reflected widespread uncertainty over the ramifications of the result and speculation over the differences between what Donald Trump said during his campaign and what he might actually do. For instance, while his comments on protectionism and imposing tariffs on Asia and Latin America have...

Possible Commerce head Ross knows how to deal with China Legendary distressed investor Wilbur Ross, who is said to be on President-elect Donald Trump’s short list for Commerce Secretary, knows firsthand the benefits of a tough trade policy with China. He’s pocketed millions of dollars in profits from a past administration’s tough China stance. Back in 2002, with the US steel industry in tatters, Ross agreed to buy the assets of bankrupt steel maker LTV Corp. The 78-year-old investor believed the Bush White House, looking to save thousands of jobs in the beleaguered industry, would soon slap stiff tariffs on Chinese steel that many believed was being dumped into the country at below market prices, a source familiar with the situation said. “His team asked then-Commerce Secretary Donald Evans if there would be more protectionist ...

Ride now, pay later: Ola launches post paid service Ola Credit will give customers 7 days of credit so they can keep booking Ola cabs without worrying about having sufficient cash Cab aggregator Ola Wednesday announced the launch of Ola Credit - a postpaid service to enable hassle-free mobility to citizens who can now pay later for their rides. Claiming to be a first in the industry, the service is being launched at a time when cash conservation is important for many citizens, the company said. The service comes against the backdrop of demonetisation of high value currencies by government in its fight against black money, a move that has also resulted in cash crunch. Ola Credit will give customers 7 days of credit so they can keep booking Ola cabs without worrying about having sufficient cash, it ...

JCorp launches IIBD brand as a catalyst for economic growth JCorp launches IIBD brand as a catalyst for economic growth By Rizalman Hammim JOHOR BARU: Johor Corporation (JCorp) will set up a special entity to operate as the master developer, implementer and marketer of the Ibrahim International Business District (IIBD). JCorp president and chief executive Datuk Kamaruzzaman Abu Kassim said the entity will be focused on shaping and implementing pro-business and investment policies and plans, and market IIBD as the choice location for investors seeking an attractive and emerging opportunity. “Jcorp is currently in the midst of structuring and benchmarking financial and tax incentives with the state and federal governments to be offered by IIBD in a bid to become a catalyst for economic growth and entrepreneurial opportunities for its residents and investors,” said Kamaruzzaman. ...

Tea growers eye more cash in Sh150m auction automation By JAMES NGUNJIRI, email protected The East African Tea Trade Association (EATTA) has signed a Sh150 million agreement with Trade Mark East Africa (TMEA) to automate tea trading at the Mombasa weekly auction. The automation of the 60-year-old auction, expected to be complete within a year-and-a-half, will cost Sh151.1 million ($1.5 million) provided by TMEA. This is expected to enhance transparency in the trading process at the auction and reduce the cycle by about 65 per cent from the current 45 to 60 days to less than a month. The reduction in the trading period will ensure farmers receive timely payments removing need to take loans to finance farming operations. “This portal will simplify the tea auction with the added benefit of increasing transparency and thus ...