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  1. #1
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    Default Economic and company news by ForexMart

    October 7, 2016

    International Monetary Fund Warns of Possible Disruption in Asian Capital Flows due to Fed Interest Rate Hike

    The International Monetary Fund released a statement on Thursday that warned investors that varying reactions on the impending interest rate hike by the Federal Reserve could disturb Asian capital flows and could also increase the volatility of asset prices in Asia. The IMF also stated that the prospective growth of much more advanced nations can have negative effects on the Asian economy especially since the regionís weak export rates could have an impact on their overall growth and inflation rates.

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    October 7, 2016
    Impact of Hurricane Matthew in the oil prices is unpredictable
    The cyclone brought an immediate impact to the oil companies, seeing the gasoline prices to initiate a push and pull actions as the storm goes around a circular movement around the area, this also affected the demand and supply in Southeast.
    Price of gasoline moderately increase in Florida and drivers are urging to search gas stations since most of the filling stations there were rush out. Almost 1.5 million individuals are moving to South Atlantic coastal zone due to the heavy storm by which the authorities said that this catastrophe would leave a large damage to Florida.


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    High NFP Report Impacts Fed Rate Hike
    Federal Reserve is pressured for rate hike because of continuous advances of employment growth in US. The needed job by economy is less than 100,000 to match the population growth. However, the Non-Farm Payrolls (NFP) soared to 175,000 in August. It is expected for a the hourly wages to increase by 2.6% in September which is the same as last year. Another rate hike is presumed not to happen since the election is just a month away and this will be the last employment report before November policy meeting of Fed.

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    October 10, 2016

    Samsung Temporarily Discontinues Note 7 Production Due to More Reports of Exploding Batteries

    Tech firm Samsung Electronics Co. has allegedly decided to temporarily halt its production of its infamous Galaxy Note 7 smartphone after more reports of exploding batteries, this time with the replacement phones previously provided by the firm to Note 7 owners. This has caused an additional negative impact to the companyís overall status and has hindered the firmís struggle to recover from the initial reports of exploding smartphones. This move has caused Samsung shares to drop by 4.6%, its second drop following the firmís defective smartphone issue.

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    October 10, 2016

    Financial Market Sides with Clinton After Debate

    The U.S Stock Market sees Democrat Hilary Clinton to have an upper hand against her opponent Republican Donald Trump. The U.S. stocks ascended shortly after the first 90-minute presidential debate. On the other hand, Trump focusing on U.S. trade deal between Mexico and Canada and vowed to create a border influenced the Mexican peso to increased by 2% this weekend up to 1.3% gainst USD. In S&P 500 increased by 6 points just three hours before the debate and gained 5.25 points or 0.24% after.
    The debate was concluded as a draw while Financial advisors ponder Clinton to win considered as an investment premise for 2017.

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    October 10, 2016

    Rules of the World Trade Organization would cause higher amounts of shop prices, according to the BRC.

    The BRC gives notice to the trade secretary upon employing the principle of the WTO because this would cause an additional 12% for the Bangladesh clothes while 27% increased over meat products and Chilean wine also had an upsurge of 14%. Included also on the goods that would possibly make an additional cost is the NZ lamb. But it is expected that the general value of the commodities would rise and shoppers would likely to strive upon the upswing of those merchandise.

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    October 11, 2016

    Due to Sudden Sales Drop, Ford Temporarily Shuts Down Mustang Factory in Michigan

    Ford Motor Co. will be temporarily shutting down its Michigan-based Mustang factory after the automotive firm suffered a 32% decrease in its sales. The firm was also outsold by the Chevrolet Camaro after two years which was also a factor in the said shut down. According to a company spokesperson, the firm’s plant in Michigan will resume its production in October 17 while the firm realigns the current demand with its production capacity. The plant has a total of 3,702 employees and is a manufacturer of both Lincoln Continentals and Mustangs.

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    Clerics left Wells Fargo behind due to the eruption of a scandal

    Religious investors including a group of nuns decided to leave the Wells Fargo & Co. and they are appealing for a shareholder resolution to bank reporting the fraud accounts of the company. These accounts are worth $190 million.
    The ministerial people who are involved in the company also complain the overall management and security because it is revealed that employees have the power to open private accounts even without the permission of the holder, just for the sake of reaching their quotas. St. Francis of Philadelphia filed a case against the bank considering that the financial institution promised for a better risk control for the banks based in San Francisco by which the investment firm did not comply with.

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    October 11, 2016

    Next in line: TPP Deal After the Approval of Extra Budget in Japan

    An extra budget of $32 billion yen has been approved by the parliament of Japan for this fiscal year. This supports the stimulus package of the Shizo Abe, the current Prime Minister of Japan. This is allocated for railroad improvement, recondition ports, to bolster natural disaster prone areas and augment wages for daycare workers. With this budget allocation settle, their next concern is the Trans-Pacific Partnership (TPP) pact that is targeted to be approved in the current session of the parliament scheduled to end on the 30th of November.

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    October 12, 2016
    Volkswagen Plans to Reduce Workforce Yearly
    Top management of Volkswagen may reduce around 2,500 jobs every year for the span of 10 years through early retirement. This is a step for the plan to cut expenses as a future strategy without dismissing thousands of workers abruptly. On the other hand, they are in need of additional workforce for “software development and mobility services” to counteract the Diesel Emission scandal saying they cheated on their pollution emission tests in US.

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