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Markets rational to the escalations in middle east

The finance markets all over the world had shrugged the tensions between Iran and United States as they did not expect the tensions to see any more escalations for now at least.

The stocks of the United States were higher on this Wednesday as there was a plunge in the prices of Oil even after Iraq had attacked the military bases of United States overnight. The stocks moved even higher after a speech had been given by President Donald Trump who had defused a bit of the concerns by saying that Iran had appeared to be standing down and also that there was no intention that he had of taking the military conflict forward in any way.

The stocks had fallen initially upon the breaking of the news and the prices of oil had been higher soon after the strikes were made by Iran after the closing of markets on Tuesday.

There had been no damage when it comes to the loss of life in this attack though there was an infrastructure that had been damaged.  A warning was given by Iran after their military leader had been killed by an airstrike conducted by the United States. The attacks were seen as retaliation however the magnitude was not something that would send the investors in shock.

The analysts feel that the markets turned out to be a little more rational about this issue and they had not believed that anything serious could be done by the Iranian leaders. The news of no escalations further eased the tensions around the market and it rebounded to register a record day with the prices of oil falling off too.

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Travelex being held to ransom by hackers

Travelex being held to ransom by hackers

Travelex the ticketing giant company is suffering from a major cyber attack by hackers. The company had to forcefully shut down all its systems and resort doing the work on pen and paper. The worst part is that the hackers are now demanding ransom to release their systems.

The cyberattack was launched on New Year’s Eve. As a   protective measure, the company took the website offline in more than 30 countries to contain the spread of the virus across the network and protect the data.

The gang who had taken the blame for the attack is Sodinokibi and now wants Travelex to pay $6 million (4.6 million GBP).

This is not the first instance that Travelex’s website has been hanged. Just six months prior to this incident another ransomware gang called REvil had gained access to the website and downloaded 5GB of confidential customer data.

REvil groups are saying that they have access to date of births, credit card information and national insurance numbers in their possession.

The hackers have told that in case Travelex makes the payment they will not use any of the information on the database which they have in their possession and they will also restore the network. In case the payment is not done within 2 days the payment amount will be doubled. And if 7 days pass by the hackers will wipe of the entire database and sell the confidential customer data online.

But on the other hand, the Information Commissioner’s Office is telling that it had not received any data breach report from Travelex.

As per the law, any organization ho website has been hacked and their data is in danger of being breached by a third party should report to the ICO within 72 hours. This will ensure that the company does not get any blame for people’s rights and freedoms.

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Trade deficit showing that Trump’s hard line is bearing fruit.

Trade deficit showing that Trump’s hard line is bearing fruit.

The trade deficit of the month of November in United States in 2019 has fallen to the level which is lowest in the last three years and suggested that the agenda of the administration of Donald Trump for the recalibration of the international trading of goods is beginning to have a major impact.

The deficit had fallen by 8.2% to an amount of $43.1 billion which is the lowest it has been after the month of October of 2016 as per the Department of Commerce on the 7th of January.

The expert of trade Alan Tonelson has said that figures in this morning and the total of the trade deficit in the United States have been heading for their first decline in year-over-year terms since the year 2013 when the growth in United States had been lower by a significant margin than what is likely in this year.

The deficit of trade with China in terms of goods had been a major focus of the agenda that the Trump administration had, has seen a decline of 15.7% to a level of $26.4 billion with the imports seeing a decrease of 9.2 % and the exports seeing an increase of 13.7%

Tonelson has further argued that the figures which are pertaining to the month of November have shown that the hard line which has been maintained by Trump when it comes to China is doing a good job. He further urged the Trump administration to maintain the pressure in the dispute of trade and take a lot more steps for the decoupling of the economies of the two countries.

He feels that this is going to expand the commerce and trade for the country.

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Tom Kloza says that the oil prices may rally with the escalations in Middle East tensions

Tom Kloza says that the oil prices may rally with the escalations in Middle East tensions

Tom Kloza who is an expert about Energy has said that the prices of oil are going to begin their rally again as the hostilities have resumed with Iran.

Kloza though says that this bullish activity is going to end up being temporary.

He said that they are in the seventh or the eighth innings of the rally which is sustainable and he felt that he was very confident that they were going to be exiting this year at a number that is going to be a lot lower.

There was a fall in Brent and WTI Crude on this Tuesday. The commodities had returned to the levels they had been seen at before the airstrike which had taken place on Thursday on Iran by the United States and led to the killing of a military leader of Iran, Qaseem Soleimani.

Kloza feels that there is a lot left in the tanker of the canister and has a feeling that the prices of oil may be rising a further $5 in the week per barrel.

He said that they need to be on their feet when it comes to these attacks and be careful of not making the mistakes which had been made in the month of September on the Saudi Facility. He said that a $700 handle was going to be possible always for a shorter period of time.

He says that the biggest concern for him in the connection to these tensions in the middle east is the opposite effect on the prices of oil in case there were targets which were softer and had to do a lot with the transportations