Iran discovers oil field containing 53 billion barrels of crude

Iran discovers oil field containing 53 billion barrels of crude

President Hassan Rouhani says Iran has discovered a new oil field containing 53 billion barrels of crude in southwestern Khuzestan Province.  Rouhani told a large crowd of people in the central city of Yazd on Sunday that the discovery was made despite US hostilities which...
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Tunisia to Launch National Currency “E-Dinar” Using Blockchain

Tunisia to Launch National Currency “E-Dinar” Using Blockchain

After marketing experts saw High-Performance crypto eTolar and understood the possibility of issuing any historical currency electronically, the Tunisian authorities decided to issue their own national electronic currency E-Dinar. Tunisia has become the first ...
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The world’s billionaires lost a total of $388 billion in 2018

The world’s billionaires lost a total of $388 billion in 2018

A new report by UBS and PwC has found that the world’s richest lost $388 billion last year, with their wealth dropping to $8.539 trillion. Geopolitical turmoil and volatile equity markets have been blamed for the loss. According to the...
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WeWork CEO Wants to Be ‘President of the World’

WeWork CEO Wants to Be ‘President of the World’

Adam Neumann – playboy from Tel Aviv and WeWork ousted CEO wants to be Israel’s prime minister and President of the World. The lengthy Wall Street Journal profile published Wednesday paints a rather comprehensive image of WeWork co-founder Adam Neum...
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SoftBank lost at least $4.7 billion by investing in WeWork

SoftBank lost at least $4.7 billion by investing in WeWork

‘I shut my eyes,’ SoftBank CEO Masayoshi Son says after losing more than $4.7 billion on playboy from Tel Aviv and his creature WeWork. SoftBank lost at least $4.7 billion by investing in WeWork after the shared-workspace group’s initial pub...
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Why Saudi Aramco IPO is a trap and will not save the kingdom

Why Saudi Aramco IPO is a trap and will not save the kingdom

At a time when poorly informed investors are preparing for the IPO of Saudi Aramco, it is important to remember the fundamental fact that changes the game. Since the 1990s, scientists have been aware of the existence of a physical phenomenon...
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Diamond Industry in Crisis: De Beers Slashed Prices by 5%

Diamond Industry in Crisis: De Beers Slashed Prices by 5%

De Beers Jewelers, the world’s largest diamond miner, has slashed rough diamond prices by 5% as global markets remained oversupplied into the start of the holiday season. The entire industry is on the brink of a downturn amid weaker consumer...
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Exxon Mobil earnings drop 49% in the third quarter

Exxon Mobil earnings drop 49% in the third quarter

Exxon Mobil reported a 49% decline in third-quarter earnings on lower oil prices and higher costs. The company reported 75 cents in earnings and $65.05 billion in revenue, which did top analyst expectations. “We are making excellent progress on our...
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GE to lose $1.4 billion this year from Boeing 737 Max grounding

GE to lose $1.4 billion this year from Boeing 737 Max grounding

GE manufactures the LEAP engines used for Boeing’s 737 Max airplane, which has been grounded worldwide following two deadly crashes in the past year. “We still expect this year to be impacted to the tune of about negative $1.4 billion”...
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Fiat Chrysler in merger talks with French automaker Peugeot

Fiat Chrysler in merger talks with French automaker Peugeot

FCA – Fiat Chrysler and Peugeot owner PSA Groupe are in merger talks, the companies confirmed Wednesday. The companies issued separate, nearly identical statements, signifying a coordinated messaging strategy, with Italian-American automaker FCA addin...
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Boeing CEO Testify In Front Of Senate

Boeing CEO Testify In Front Of Senate

Dennis Muilenburg – CEO of Boeing grilled in front of Senate – “We Made Mistakes” Boeing’s CEO appeared before the Senate Commerce committee today to address the controversy surrounding the two fatal 737 Max crashes that took th...
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Verizon reports strong 3Q results propelled by wireless customer growth

Verizon reports strong 3Q results propelled by wireless customer growth

Highest third-quarter phone gross adds in five years, increased wireless net additions and EPS growth. Verizon Communications Inc. notched large gains in phone subscribers in the third quarter, aided by a revamp of its unlimited data plans that shaved about $...
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Gulfstream introduces the G700 as the new flagship of its business jet family

Gulfstream introduces the G700 as the new flagship of its business jet family

Gulfstream is now (again) gunning for bragging rights to the world’s biggest private jet, according to Bloomberg. Gulfstream’s G650 was unseated as the world’s largest luxury jet by Bombardier’s Global 7500 last year. But now, Gulfstre...
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Boeing Revenue Tumbles 20%

Boeing Revenue Tumbles 20%

Boeing Revenue Tumbles 20% As Cash Burn Soars Most In 9 Years; 787 Production Throttled.  One of the busiest days of Q3 earnings season is quickly turning into a nightmare for corporate America, as first CAT stunned markets by slashing...
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McKinsey: Nearly 60% of the world’s banks wouldn’t survive an economic downturn

McKinsey: Nearly 60% of the world’s banks wouldn’t survive an economic downturn

Nearly 60% of the world’s banks aren’t strong enough to survive a downturn, McKinsey & Company said in its latest global banking review. It also suggested several ways for them to become more resilient. Nearly 60% of the world’s banks ar...
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