JUST IN: MORE THAN 15,000 KALASHNIKOV ASSAULT RIFLES MANUFACTURED ABROAD UNDER RUSSIAN LICENSE SINCE YEAR START – & 7-CONTRACTS FOR 100,000 – ROSOBORONEXPORT #AceFinanceDesk reports

#AFNews – Sept.19: MORE THAN 15,000 KALASHNIKOV ASSAULT RIFLES MANUFACTURED ABROAD UNDER RUSSIAN LICENSE SINCE YEAR START & HAS CONCLUDED SEVEN CONTRACTS FOR SUPPLY OF OVER 100,000 – DIRECTOR GENERAL – ROSOBORONEXPORT #AceFinanceDesk reports

.@SputnikInt #AceFinanceNews

EDITOR: Thanks for following as always appreciate every like, reblog or retweet for all our daily news and minute by minute 24-hours a day on https://t.me/acenewsdaily and free help and guidance tips are on AcePCHelp.WordPress.Com or you can follow our news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews

Advertisements

LONDON: Philip Hammond got some rare good news about the country’s finances on Tuesday as he finalises his first budget statement, which is still likely to forecast a surge in borrowing as Britain prepares to leave the EU – @AceFinanceNews

#AceFinanceNews – Nov.22: Hammond gets boost from October borrowing data
// Reuters UK
Britain’s Chancellor of the Exchequer Philip Hammond arrives at 10 Downing Street in London

Breaking with a pattern of borrowing overshoots earlier in the financial year, official figures on Tuesday showed public borrowing in October was 25 percent less than a year earlier at 4.8 billion pounds ($6.0 billion), its lowest since 2008 and beating all economists’ forecasts.

But Hammond still stands little chance of meeting the budget deficit reduction target for the current financial year which his predecessor, George Osborne, set out in March. He has already abandoned Osborne’s goal of reaching a budget surplus by 2020.

Instead, economists predict Hammond could announce more than 100 billion pounds of extra borrowing on Wednesday, as Britain’s independent budget office is likely to forecast slower growth, weaker tax revenues and higher social security costs in the wake of June’s vote to leave the European Union.

“To put it bluntly, Brexit will be assumed to make the UK poorer which means the government must eventually lower spending, raise taxes, or permanently borrow more,” Bank of America Merrill Lynch economist Robert Wood said.

Hammond played down expectations of much extra spending on public services or infrastructure to cushion the effect of years of uncertainty as Britain negotiates to leave the EU on Sunday, and described debt levels as “eye-wateringly” high.

Bank of America’s Wood said he expected Hammond to announce extra discretionary stimulus that amounted to just 0.5 percent of gross domestic product, in part because he may want to keep his powder dry in case of a sharper economic slowdown.

This could include freezes to taxes on vehicle fuel and air travel, and modest further investment in infrastructure such as roads and broadband internet connections.

Britain’s economy has slowed much less than most economists forecast since the Brexit referendum, and on Tuesday the Confederation of British Industry reported the fastest growth in factory orders since the June 23 vote.

But analysts see tougher times ahead for households as a 15 percent fall in the value of sterling against the dollar feeds into higher prices.

The public finances were underperforming even before the Brexit vote. Borrowing since the start of the tax year in April is 10 percent lower than in the same period of 2015 at 48.6 billion pounds, the Office for National Statistics said, versus a 27 percent fall needed to meet Osborne’s 55 billion pound target for the whole tax year.

“The government is committed to fiscal discipline and will return the budget to balance over a sensible period of time, in a way that allows space to support the economy as needed,” a finance ministry spokesman said after Tuesday’s data.

Britain’s budget deficit was 4 percent of GDP last year, down from 10 percent at the height of the financial crisis but still more than almost all other big economies.

The ONS said net public debt rose to a record 1.642 trillion pounds in October, equivalent to 83.8 percent of gross domestic product.

October’s improvement in the public finances was driven by faster growth in tax revenues. Overall these were up 6.8 percent on the year, with particularly strong growth in corporation tax. The ONS was not able to say if the trend was likely to last.

(Editing by Catherine Evans)

http://reut.rs/2gHDXzK

EDITOR NOTES: Please share and comment on this with consideration for others please …

MARKET REPORT: US Stocks: S&P 500 hits new all-time high as energy stocks rally 2%, as earlier Dow up 52, Nasdaq 23 and S&P500 nearly 10 points as investors added to a post-election advance spurred by speculation the incoming administration’s policies will incite brisker economic growth – @AceFinanceNews

#AceFinanceNews – Nov.21: US stocks open higher as #oil prices jump 2%; Dow up 52 points, NASDAQ up 23, S&P 500 up nearly 10 – CNBC – http://cnb.cx/2fxxtOM

US markets (open): DJIA 18898.68 (+30.75), S&P 500 2186.43 (+4.53), NASDAQ 5336.78 (+15.27), NYSE 10709.51image

U.S. stocks rose, pushing the S&P 500 Index to an all-time high on a closing basis, as investors added to a post-election advance spurred by speculation the incoming administration’s policies will incite brisker economic growth.
The S&P 500 rose 0.4 to 2,190.84 at 9:34 a.m. in New York, surpassing the Aug. 15 closing high of 2,190.15. The intraday record sits above 2,193. The Dow Jones Industrial Average advanced 46.92 points to 18,914.85 to an all-time high. The Russell 2000 Index rose for a 12th day in its longest rally since 2003.

The new milestone for the S&P 500 arrived as companies ended a five-quarter profit slump and Donald Trump’s election fueled optimism that his plans to cut taxes and boost fiscal spending will benefit industries more geared toward economic growth. Acknowledging the strength in the economy, Federal Reserve Chair Janet Yellen said Thursday that the central bank is close to lifting interest rates, comments that sent Treasuries lower and yields on the 10-year note toward 2.25 percent.

“There’s optimism that it’s more likely that Trump is going to put us on an economic fast track versus Clinton,” said Terry Morris, manager director of equities at BB&T Institutional Investment Advisors in Wyomissing, Pennsylvania. “The election had something to do with this, and I also think there’s some short covering going on. People that were hedging the election had to rush to cover after the news, and I think generally the perception is the economy is starting to pick up as the Fed is likely to raise rates in December.”

Investors have boosted bets for tighter monetary policy since Donald Trump’s election win, on speculation his policies will spur growth and increase inflation. After Federal Reserve Chair Janet Yellen said last week the central bank is close to raising rates, traders are now pricing in a 98 percent chance of a move in December. If the Fed doesn’t act as expected, it may bring on more market turmoil, says Seven Investment Management’s Ben Kumar.

Most-hated stocks are among the biggest winners since Trump’s victory. A Goldman Sachs Group Inc. basket of 50 companies that have the highest short interest in the Russell 3000 Index climbed 9.7 percent through Friday since Nov. 8, four times the gain in the broad market measure.m

Energy shares rallied Monday, following crude higher, after Iran signaled optimism OPEC will agree to a supply-cut deal and Iraq said it will offer new proposals to help bolster the group’s unity before members meet next week. Chesapeake Energy Corp. and Murphy Oil Corp. led gains.

S&P 500 hits new all-time high as energy stocks rally 2%

U.S. equities traded higher as oil prices rose on renewed optimism that OPEC was closing in on a deal to cut production – CNBC – http://cnb.cx/2gCrE7H

EDITOR NOTES: Please share and comment on this with consideration for others please …

#AFN BRITAIN: Mitie outsourcing group healthcare shares fall 18% in early trading as a £128-million write-off drives it to £100m pre-tax loss for half-year as they decide to withdraw from healthcare market – @AceFinanceNews

#AceFinanceNews – Nov.21: Mitie has published its second profit warning in two months after the outsourcing company’s customers continued to reduce spending due to rising costs and economic uncertainty.
image

The company also said it would withdraw from its healthcare business, which provides home care for the elderly.

The £128m cost of writing off the business drove Mitie to a £100m pre-tax loss for the first half of the year.

http://bitly.com/2ge0XCH

EDITOR NOTES: Please share and comment on this with consideration for others please …

MARKETS: Bank of England says it is ‘looking into’ flash crash that sent sterling plunging 6% overnight – PA – @AceFinanceNews

#AceFinanceNews – Oct.07: British pound plunges as much as 6.1% in early Asian trading, touching lowest since March 1985 – Bloomberg

http://bloom.bg/2diDyxL

Bank of England says it is ‘looking into’ flash crash that sent sterling plunging 6% overnight – PA

http://bit.ly/2dYnTIF

British pound tumbles 3% against US dollar in chaotic trading following overnight flash drop – WSJ

http://on.wsj.com/2dAeCnz

Editors Notes:

I would remind you that this blog is produced free for the public good and you are welcome to republish or re-use this article or any other material freely anywhere without requesting further permission.

News & Views welcome always published as long as NO bad language or is not related to subject matter.

To keep online information secure, experts recommend keeping your social media accounts private, changing your passwords often, and never answering unsolicited emails or phone calls asking for your personal information. Need help and guidance visit https://acepchelp.wordpress.com and leave a comment or send a private message on Telegram @Aceone31

Ace News Services Site Links Listed Here:

AceTweet This News

MINNESOTA: Controversial Sandpiper #oil pipeline is suspending its plans for the project.Enbridge Energy Partners asked regulators late Thursday to stop their consideration of the pipeline, the Minneapolis Star Tribune – @AceFinanceNews

#AceFinanceNews – Sept.05: Another oil pipeline is dead, raising the stakes for Dakota Access.

Enbridge announced Thursday it will no longer pursue its Sandpiper pipeline, which would have run through parts of North Dakota, Minnesota, and Wisconsin.

Enbridge will instead focus on its investment in the Dakota Access pipeline, a battle that’s kept Native American tribes and other activist groups occupied for weeks.

The decision gives both sides a renewed stake in getting their way on Dakota Access.

The more companies you have pushing on that the harder it is to push back,” said Catherine Collentine, a Sierra Club campaigner working against both projects. “There’s a huge concern that their support on Dakota Access is going to help move the project forward, help give it legs to stand on.

And residents who live along the Sandpiper’s proposed route in northern Minnesota — which would have coursed near the Mississippi’s headwaters, Native American wild rice land, and Lake Superior — aren’t completely in the clear yet, either. Enbridge still has plans for another pipeline, the creatively named Line 3, that’s currently on hiatus. It would run parallel to Sandpiper’s route through the same midwestern wilderness.

Apparently Enbridge hasn’t wised up to how serious Minnesotans are about their lakes and wild rice.

Editors Notes:

I would remind you that this blog is produced free for the public good and you are welcome to republish or re-use this article or any other material freely anywhere without requesting further permission.

News & Views welcome always published as long as NO bad language or is not related to subject matter.

To keep online information secure, experts recommend keeping your social media accounts private, changing your passwords often, and never answering unsolicited emails or phone calls asking for your personal information. Need help and guidance visit https://acepchelp.wordpress.com and leave a comment or send a private message on Telegram @Aceone31

Ace News Services Site Links Listed Here:

AceTweet This News

#oil

#G20 The world’s two largest oil producers, Russia and Saudi Arabia, on Monday agreed to act together to stabilize global #oil output – @AceFinanceNews

#AceFinanceNews – Sept.05: This is a report from our breaking news earlier
https://acebreakingnews.wordpress.com/2016/09/05/breaking144-saudiarabia-russia-energy-ministers-announce-mou-signed-at-g20summit-on-oil-market-saudi-gazette-acebreakingnews
After months of price volatility in the #oil markets today Saudi Arabia, Russia sign strategic oil pact
Author:
ARAB NEWS

Mon, 2016-09-05
ID:
1473073652371895100

HANGZHOU: The world’s two largest oil producers, Russia and Saudi Arabia, on Monday agreed to act together to stabilize global oil output.

Energy ministers Alexander Novak and Minister Khalid Al-Falih met Monday on the sidelines of the Group of 20 nations’ summit in China. A joint statement released by Russia said both ministers “recognized the need to restrain an excessive volatility of the oil market” and agreed to act together “in order to stabilize the oil market.”

Editors Notes:

I would remind you that this blog is produced free for the public good and you are welcome to republish or re-use this article or any other material freely anywhere without requesting further permission.

News & Views welcome always published as long as NO bad language or is not related to subject matter.

To keep online information secure, experts recommend keeping your social media accounts private, changing your passwords often, and never answering unsolicited emails or phone calls asking for your personal information. Need help and guidance visit https://acepchelp.wordpress.com and leave a comment or send a private message on Telegram @Aceone31

Ace News Services Site Links Listed Here:

AceTweet This News

#g20https

#AceFinanceNews – #Oil prices fall as Canadian wildfires have knocked out over one million barrels worth of daily crude capacity – Reuters – @AceFinanceNews

#AceFinanceNews – May.11: Oil prices fall as Canadian wildfires have knocked out over one million barrels worth of daily crude capacity

#Oil prices fall as Canadian wildfires have knocked out over one million barrels worth of daily crude capacity – Reuters

Editors Notes:

I would remind you that this blog is produced free for the public good and you are welcome to republish or re-use this article or any other material freely anywhere without requesting further permission.

News & Views welcome always published as long as NO bad language or is not related to subject matter.

Thanks for following as always appreciate every like, mention , reblog or #tweet also our newspaper is added with all our posts daily:

BreakingMain NewsFinanceWorldSocialFoodHistoryBritainScotlandFriendsAuthors#TweetPC-HelpNewsroomChatShop & ShareDisability — more to come.

@AceNewsServices

AceTweetNews : Main & Breaking Here

#AceFinanceNews – Continental AG CEO says #Volkswagen one of its biggest clients, not pushing for price cuts amid #emissions software probe – Reuters – @AceFinanceNews

#AceFinanceNews – April.29: Continental (CONG.DE) sees no signs that Volkswagen (VOWG_p.DE), one of its largest customers, is seeking price reductions to help contain the costs of its #emissions software scandal, Chief Executive Elmar Degenhart said.

Original Article: http://www.reuters.com/article/us-continental-volkswagen-emissions-idUSKCN0XQ19H

Editors Notes:

I would remind you that this blog is produced free for the public good and you are welcome to republish or re-use this article or any other material freely anywhere without requesting further permission.

News & Views welcome always published as long as NO bad language or is not related to subject matter.

Thanks for following as always appreciate every like, mention , reblog or #tweet also our newspaper is added with all our posts daily:

BreakingMain NewsFinanceWorldSocialFoodHistoryBritainScotlandFriendsAuthors#TweetPC-HelpNewsroomChatShop & ShareDisability — more to come.

@AceNewsServices

AceTweetNews : Main & Breaking Here

#volkswagen

#AceFinanceNews – We estimate Islamic finance assets were worth about $2.1 trillion at year-end 2015, compared with more than $7 trillion of cumulative GDP of the economies of the OIC countries at the same date – Report S&P – @AceFinanceNews

#AceFinanceNews – April.22: Islamic finance assets estimated at $2.1T in 2015: S&P

Sukuk issues volumes will reach $50 billion to $55 billion in 2016, according to Standard & Poor’s estimates.

We estimate Islamic finance assets were worth about $2.1 trillion at year-end 2015, compared with more than $7 trillion of cumulative GDP of the economies of the OIC countries at the same date,” the ratings agency said in a report on Monday.

Islamic finance will likely remain a moderate contributor due to the industry's small size and the issues it has yet to resolve to unlock its global potential. (File photo)

44.png Copyright © 2016 Khaleej Times. All Rights Reserved.

Editors Notes:

News & Views welcome always published as long as NO bad language or is not related to subject matter.

Thanks for following as always appreciate every like, mention , reblog or #tweet also our newspaper is added with all our posts daily:

BreakingMain NewsFinanceWorldSocialFoodHistoryBritainScotlandFriendsAuthors#TweetPC-HelpNewsroomChatShop & ShareDisability — more to come.

@AceNewsServices

AceTweetNews : Main & Breaking Here