TREASURIES-U.S. 30-year yields drop to record low on recession fears

NEW YORK, Aug 7 (Reuters) – U.S. Treasury yields slumped on Wednesday, with 30-year yields nearing record lows, on growing fears over a global downturn and bets the Federal Reserve would have to pick up its pace of interest rate cuts to counter growing recession risks.

At 8:41 a.m. (1241 GMT), the prices on 30-year or long bonds were up over 2 points in price after gaining nearly 3 points earlier. Thirty-year yields were down 9.60 basis point at 2.1736% after it hit 2.145% earlier, which was not far from an all-time low of 2.089% set in July 2016, according to Refinitiv data. (Reporting by Richard Leong; Editing by Bernadette Baum)

Malawi protests: Anger at president's alleged election fraud

President Mutharika’s ruling DPP party denies allegations of vote-rigging and fraud.

In Malawi, troops have been deployed to restore calm in the capital following fighting between protesters and police.

Protesters have repeatedly accused President Peter Mutharika of election fraud since he won a second term in April.

Al Jazeera’s Haru Mutasa reports.

Modern slavery: British activists demand action

In 2018, more than 500 suspected victims of trafficking were held in UK detention centres, according to a recent report.

Campaigners against people trafficking in Britain are accusing government organisations of failing to protect victims.

They say hundreds of exploited workers are ending up in jail when they should be in hospital being treated for torture injuries.

Al Jazeera’s Emma Hayward has been meeting some of the many victims of slavery.

Sri Lanka PM admits shortcomings for Easter Sunday bombings

Coordinated suicide bombers struck 3 churches and 3 hotels, killing more than 250 people and leaving hundreds injured.

Sri Lankan Prime Minister Ranil Wickremesinghe has admitted that serious shortcomings led to the Easter Sunday bombings, which left more than 250 people dead.

Appearing before the Parliamentary Select Committee investigating the attacks, he accepted that his fallout with the president had also been a factor.

Al Jazeera’s Minelle Fernandez reports.

US STOCKS SNAPSHOT-Futures turn lower as investors flock to bonds, gold

Aug 7 (Reuters) – U.S. stocks futures turned lower on Wednesday after investors flocked to safe-haven gold and U.S. government bonds amid worries over the escalation in U.S.-China trade war denting global growth.

At 8:15 a.m. ET, Dow e-minis were down 167 points, or 0.64%. S&P 500 e-minis were down 16.5 points, or 0.57% and Nasdaq 100 e-minis were down 42.75 points, or 0.57%. (Reporting by Medha Singh in Bengaluru)

What's the economic cost of Hong Kong protests?

Future of Hong Kong’s economy unclear but what has already been lost is Hong Kong’s reputation for stability.

The protests triggered by a controversial extradition bill have grown into a wider movement against Beijing’s control over the city.

And the ongoing unrest is threatening Hong Kong’s reputation for stability which comes with an economic cost.

Al Jazeera’s Andrew Thomas explains.

Trump says U.S. Federal Reserve 'too proud to admit mistakes'

WASHINGTON, Aug 7 (Reuters) – U.S. President Donald Trump said on Wednesday the U.S. Federal Reserve must cut rates “bigger and faster” for the United States to be competitive against other countries.

“Our problem is a Federal Reserve that is too proud to admit their mistake of acting too fast and tightening too much (and that I was right!). They must Cut Rates bigger and faster, and stop their ridiculous quantitative tightening NOW,” Trump said in a series of Twitter posts.

Woman airlifted to Toronto hospital following Uxbridge crash

A woman has been airlifted to a Toronto hospital in life-threatening condition following a collision in Uxbridge.

Durham police said the woman was driving down Sandford Road on Wednesday morning when the crash occurred.

Sandford Road from Concession Road 2 West to York Durham will remain closed while traffic services investigate.

More to come.

The New York Times Co., Q2 adjusted earnings Beat Estimates

The New York Times Co., (NYT) revealed a profit for its second quarter that advanced from last year.

The company’s bottom line came in at $25.17 million, or $0.15 per share. This compares with $23.60 million, or $0.14 per share, in last year’s second quarter.

Analysts had expected the company to earn $0.15 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 5.2% to $436.26 million from $414.56 million last year.

The New York Times Co., earnings at a glance:

-EPS (Q2): $0.17 vs. $0.17 last year.
-Analysts Estimate: $0.15
-Revenue (Q2): $436.26 Mln vs. $414.56 Mln last year.

Seaspan Lifts 2019 Revenue Outlook

Seaspan Corp. (SSW) said it now expects revenue for 2019 to be in the range of $1.115 billion to $1.120 billion; The lower end of revenue range is raised by $15.0 million from $1.100 billion. Analysts polled by Thomson Reuters expect the company to report revenues of $1.13 billion for 2019. Analysts’ estimates typically exclude special items.

The Board of Directors declared a quarterly distribution in the amount of $0.125 per share for its Class A Common Shares, paid on July 30, 2019 to shareholders of record as at the close of business on July 22, 2019.

Waffle House chair, ex-housekeeper settle sex tape lawsuit

Waffle House offers sweetheart deal for Valentine’s Day; tax refunds take a hit

Morning Business Outlook: Nearly 200 Waffle House restaurants will be taking reservations and offering dinner complete with fancy white tablecloths on Valentine’s Day; according to new numbers from the IRS, the average tax refund fell 8.4 percent in the first week of the 2019 filing season compared to the same period last year.

Waffle House Chairman Joseph Rogers Jr. and his former housekeeper have finally reached a settlement after a seven-year long dispute regarding a secret sex tape, according to the Associated Press.

Continue Reading Below

Rogers’ and his housekeeper Mye Brindle engaged in a sexual affair while she worked for him. He accused her of attempting to extort him, by secretly recording the affair in a lawsuit initially filed in 2012. He also accused Brindle’s attorneys of allegedly conspiring with her. Brindle and her attorneys were indicted on unlawful surveillance charges but were ultimately cleared last year.

Bridle claims she recorded the sexual acts as proof of Rogers’ sexual assault.

Just after Rogers’ attorneys gave his opening in a Marietta, Georgia Courtroom, the two sides announced they have reached a confidential settlement.

Terms of the settlement were not revealed.

Advertisement

CLICK FOR FOX BUSINESS APP

The Associated Press contributed to this report.