Economy / 131

Photo of Geoffrey the Giraffe leaving Toys "R" Us store goes viral

June 30, 2018

But sources have told The New York Post that Walmart executives had identified some 800 Walmart stores within five to 10 miles from an old Toys "R" Us location to carry extra toy inventory. The store has made many countless peoples' faces light up over the past 70 years. Patty Van Fossan, a long-time employee from OH said of the closure: 'I'm never going to have a job like Toys R Us.

Mazda Condemns Trump’s Proposed 25 Percent Import Car Tariff

June 30, 2018

General Motors warned on Friday that potential tariffs on US auto imports threaten to hit consumers with higher prices. Mostly luxury brands would be hit, such as Audi, BMW and Mercedes, "but higher import prices for parts could affect the pricing of mid-range vehicles produced in the USA like Volkswagen", the analysts wrote.

Liberalised remittance scheme may have triggered Indians' Swiss deposits: Piyush Goyal

June 29, 2018

ISLAMABAD: Money kept by Pakistani nationals in Swiss banks fell by over 21 percent to a record low of CHF (Swiss franc) 1.115 billion (Rs7,700 crore) in 2017, even as the same from India rose rose over 50 per cent to CHF 1.01 billion (Rs 7,000 crore) in 2017, reversing a three-year downward trend amid India's clampdown on suspected black money stashed there.

CO2 shortage leaves some pubs without draught beer and cider

June 29, 2018

The CO2 shortage is also affecting food producers, as its critical to the meat packaging process. "We are now working hard with our suppliers to minimise the impact for our customers". Supermarket chain Morrisons and online food seller Ocado warned customers of disruption to some frozen product lines. The chain says some of its pubs do not now have those drinks because of the carbon dioxide shortage that has hit the UK.

Boeing's hypersonic passenger jet could cross the Atlantic in 2 hours

June 29, 2018

A flight from NY to London normally takes about seven hours. Kevin Bowcutt , senior technician and chief scientist of hypersonics at Boeing , said in a statement the aircraft manufacturers have six decades of experience in the designing, developing and flying of experimental hypersonic vehicles.

Elon Musk got into the weirdest fight over a farting unicorn

June 29, 2018

After that, Musk's sketch was used to show the capabilities of the Tesla sketch pad, with the operating system using it as an icon and Tesla even sending it out as a Christmas card. But the letter was ignored. "I offered to pay the guy who drew it twice already for something I don't even want", he tweeted. He also tweeted: 'This isn't part of "Tesla branding"'.

Trump trade chief vows to protect U.S. interests…

June 29, 2018

Dow futures were flat while futures for the S&P 500, which on Wednesday closed at its lowest in almost a month, were up less than 0.1 percent. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.25 per cent to a nine-month low in early trade while Japan's Nikkei shed 0.30 per cent.

Exactis said to have exposed 340 million records, more than Equifax breach

June 29, 2018

A Florida-based marketing firm called Exactis - a little known company that specializes in data aggregation - unknowingly exposed its database in a way that anyone who knew where to look would be able access all of its contents. It also exposed more than 400 personal characteristics, including interests, habits, if the person owns a dog or cat, and the age and gender of the person's children.

Ticketmaster UK confirms customers' personal data stolen in hack

June 29, 2018

Inbenta was disabled from all Ticketmaster websites after the discovery. It added: "As a result of Inbenta's product running on Ticketmaster International websites, some of our customers' personal or payment information may have been accessed by an unknown third party".

Hijack Scare At JFK: Armed Police Burst Onto Flight - See Terrified Passengers

June 29, 2018

Police officers who were "heavily armed" boarded the plane to investigate the security incident, a passenger said . "We're going to check out the aircraft right here, copy?" " I hate guns. Though passengers were apparently kept in the dark, the Airbus 321 had "experienced a radio equipment problem" while taxiing, according to the FAA. JetBlue Airways said late Tuesday that one of its flights originating from New York's John F.

EU warns to strike back against new US tariffs

June 29, 2018

Administration officials have said China should strengthen protections for USA companies' intellectual property, and reduce tariffs on U.S. products. The threat comes shortly after the United States imposed tariffs on European-made steel and aluminum in a move Washington's North Atlantic Treaty Organisation allies blasted as unjustifiable.

Instagram launches a new Instagram Lite app for developing countries

June 29, 2018

Needless to say, that's pretty impressive. While Instagram Lite does support posting photos, watching Stories, and exploring other accounts, it doesn't let you yet share videos or even direct message friends. In the meantime, we'll wait to see if the Instagram Lite APK turns up for download. The site now offers numerous app's main features, including photo sharing and a simplified version of the Explore tab.

Rupee at a record low, breaches 69 mark

June 29, 2018

Mad rush for dollar was witnessed as importers see further erosion in the rupee value even as it was a field day for speculative traders before the RBI came in strongly, pumping million into the market to salvage the rupee. The global oil benchmark Brent surged to $77.33 per barrel on Thursday. According to the report, the Gross NPA ratio of scheduled commercial banks (SCBs) is likely to rise to 12.2 per cent of total loans in the current fiscal, up from 11.6 per cent in March 2018.

Got $10K? Amazon Wants You To Start Business To Deliver Its Packages

June 29, 2018

Amazon.com Inc ( AMZN .O) on Wednesday said it would offer incentives to entice entrepreneurs to set up their own small package-delivery businesses as part of Amazon's latest effort to solve the challenge of getting goods the last mile to customer doorsteps.

Trump Is Reportedly Planning New Restrictions On Chinese Investment

June 28, 2018

A quarter of those exports - about $US4 billion worth - are to China . Both China and the European Union have already announced retaliatory measures against punitive USA tariffs. He also said both sides agreed to connect the Belt and Road initiative to the EU's development strategies. The European Union last week imposed tariffs on a range of USA goods in response to import duties on EU steel and aluminium by the US administration.

BMW not considering moving production out of Britain over Brexit: executive

June 28, 2018

Indeed, in the first six months of 2018 just £347.3 million has been earmarked for new models, around half the sum announced in the same period a year ago. He said BMW was only planning any measures needed to overcome "impediments to border fluidity". That's where we are focused right now. 'It would be foolhardy of any company not to have these contingency ideas under way because we are racing towards March 29 next year, ' he said.

North American stock markets lower at late-morning, loonie edges higher

June 28, 2018

Taiwan's benchmark fell and Southeast Asian indexes were mostly lower. GENERAL ELECTRIC: Shares in General Electric jumped 4.4 percent in premarket trading on reports that the company would spin off its health care business and sell its $23 billion stake in oil services company Baker Hughes.

Figure Salary Qualifies as 'Low Income' in San Francisco

June 28, 2018

For comparison, $83,450 is the upper limit at which a four-person household in New York City can apply for low-income housing. The department's income limits are used as a threshold for determining which households may qualify for affordable and/or subsidized housing through programs such as Section 8.

Erdogan wins Turkey presidential polls

June 28, 2018

Turkey has been cracking down on US-allied Syrian Kurds, cozying up to Russian Federation and acting increasingly hostile toward the US. Demirtas, who won 8.4 per cent in the presidential race, has been in pre-trial detention since November 2016 on terror-related charges.

Trump backs off imposing China investment limits

June 28, 2018

Trump in a statement said the Foreign Investment Risk Review Modernisation Act ( FIRRMA ), will enhance American ability to protect the country from new and evolving threats posed by foreign investment while also sustaining the strong, open investment environment to which the United States is committed, and which benefits its economy and people.

President threatens Harley-Davidson with tax punishment for move

June 28, 2018

In another tweet , Trump said the company could face a "big tax ". The Trump administration has long touted its policies on trade and taxes as efforts to benefit American companies and revive manufacturing jobs across the country, but Harley-Davidson's decision to move operations signals that the president's aggressive tariffs policy could backfire against US companies engaged in global business.

The Queen Approves Brexit Bill...But Resistance Remains - Cortney O'Brien

June 27, 2018

Britain's vehicle manufacturers have urged Prime Minister Theresa May to rethink her position on the customs union as investment in the country's motor industry halves. 'There is no credible "Plan B" for frictionless customs arrangements, nor is it realistic to expect that new trade deals can be agreed with the rest of the world that will replicate the enormous value of trade with the EU.

Trump Changes Course, Will Use Existing Law To Review Chinese Tech Investments

June 27, 2018

Instead, it will rely on Congress to strengthen an existing government body that evaluates individual corporate deals for national security risks, senior administration officials told reporters early Wednesday. He said if this measure does not ultimately make it through Congress, the administration would return to a review of the powers at its disposal to protect sensitive US technology.

Trump tweet on Harley-Davidson move after tariff, European Union trade fight

June 27, 2018

President Trump has time and again pointed out to the iconic American motorcycle brand, as he pursues a protectionist trade policy, but instead Harley-Davidson seems to be facing the heat, following the retaliatory tariff hikes in the European Union and announced even in India.

China and Europe warn trade war could trigger global recession

June 27, 2018

In an extreme scenario, greater restrictions on exports and investment between them could cause divergent tech sectors to emerge. "Our past leaders should have never allowed China to get to a point where there is a $500 billion trade deficit with the United States", Trump said.

Trump Calls On Allies to Quit Buying Iranian Fuel. Oil Prices Soar

June 27, 2018

In addition, top exporter Saudi Arabia plans to raise output to make up for lost supplies. US Energy Secretary Rick Perry said Monday that the real production raise by OPEC+ would be smaller than the declared 1 million bpd. Oil markets have tightened significantly since 2017 when OPEC and its partners started withholding supply to prop up slumping prices at the time. Losses in USA crude prices were limited by the likelihood that an outage at Syncrude Canada's 360,000 bpd oil sands facility ...

Merchants hold protests in Tehran Bazaar over Iran currency plunge

June 27, 2018

It also signalled widespread unease beneath the surface in Iran in the wake of President Donald Trump's decision to withdraw America from Tehran's nuclear deal with world powers. Former President Barack Obama was criticized for not supporting the 2009 Iranian Green Protest Movement. A man counts stacks of Iranian rials at a currency exchange shop in Kerbala, 110 km (70 miles) south of Baghdad January 23, 2013.

Oil markets go tense on Libyan concerns, WTI still under $68

June 27, 2018

A recent pick up in outages from Libya to Nigeria and Canada, as well as growing risks that output in Iran - which is being targeted by the USA with sanctions - falls more than expected may challenge OPEC spare capacity, the bank said . "Need to keep prices down!" They give Saudi Arabia and Russian Federation more room to ease consumer anxiety about prices, but risk a backlash from Iran and Venezuela, founder members of the Organization or Petroleum Exporting Countries that insist members ...

Harley-Davidson moves motorcycle production away from USA to avoid European Union tariffs

June 27, 2018

Harley-Davidson says it faces a tariff on average of $2,200 United States per bike in Europe now. Mr. Trump first responded to the Harley announcement on Monday, saying he has fought hard for the 115-year-old company and was surprised by its plans, which he described as waving the "White Flag".

China, EU to form group to modernise global trade rules

June 27, 2018

Chinese Premier Li Keqiang (R) and his visiting French counterpart Edouard Philippe attend a symposium that gathered executives from more than 30 Chinese and French enterprises in Beijing , capital of China, June 25, 2018 . US President Donald Trump's administration earlier this month announced new tariffs of 25% on US$50 billion in Chinese imports. China, the EU, Canada and Mexico have all responded with countermeasures to protectionist tariffs announced by Trump.

US Wants India To Stop Importing Oil From Iran By November

June 27, 2018

According to Reuters , Mohammad Shariatmadari, Iran's Industries and trade minister, slapped the import ban on 1,339 goods from overseas, including home appliances, textile products, footwear, leather products, furniture, and healthcare products.

Harley-Davidson planning to move some production out of USA

June 27, 2018

The company, which sold almost 40,000 motorcycles in Europe previous year, said it planned to absorb those costs rather than pass them on to customers and risk damaging sales. "Hence, they were just using Tariffs/Trade War as an excuse", Trump said on Twitter. For motorcycles, the European bloc raised its 6% tariff to 31%.

Donald Trump denies he's to blame for Harley-Davidson decision

June 27, 2018

President Donald Trump renewed his attacks on Harley-Davidson on Tuesday, threatening to tax the company for offshoring manufacturing and saying the iconic American motorcycles should "never" be built outside the United States. Department of Commerce event last week, will also help reduce the trade imbalance and need for tariffs, he said. Mr. Trump seemed to suggest this was a possibility, tweeting, "If they move, watch, it will be the beginning of the end".

Trump planning new curbs on Chinese investment in the US

June 26, 2018

U.S. Treasury Secretary Steven Mnuchin later said in a message on Twitter that restrictions would apply, not specifically to China, but "to all countries that are trying to steal our technology ". This is what the South China Morning Post reported about Apple in early February this year: "The world's most valuable company reported on Thursday in the United States an 11% increase in its combined fiscal first-quarter revenue from mainland China, Hong Kong and Taiwan to US$17.9 billion, up ...

Hamas, PA among first to congratulate Turkey’s Erdogan

June 26, 2018

Russian President Vladimir Putin personally congratulated Erdogan in a telephone call. Voter turnout on Sunday was high at around 87 percent, according to state broadcast reports , as the divisive election gave transformative new powers for the victor.

U.S. trade policy drives Harley Davidson to create European Union jobs

June 26, 2018

Taxes just a Harley excuse - be patient!" Brown-Forman fell to its lowest level in nearly seven months on Monday. In a Securities and Exchange Commission filing, Harley-Davidson said the 31 percent tariff, up from 6 percent, would add about $2,200 to the cost of each motorcycle - and the impact could reach $100 million per year.

Asia stocks sink on trade war worries

June 26, 2018

Among big USA movers, Intel Corp. fell 3.4 per cent, Visa Inc. fell 3.2 per cent and Boeing Co. fell 2.2 per cent. The S&P technology index fell 2.3 percent, the most among the major S&P 11 sectors. This is starting to look like a high stakes ping pong match with another CNBC headline saying it all: 'Dow drops more than 300 points as investors brace for further trade actions against China '.

Harley-Davidson moving some production overseas; Donald Trump 'surprised'

June 26, 2018

The European Union said it plans to increase duties on a range of USA imports, including Harley-Davidson motorcycles, in retaliation for the Trump administration's new tariffs on EU metal exports. In the U.S., Harley-Davidson sold 147,972 motorcycles previous year, according to company data. Harley's motorcycles division employs about 5,200 workers.

U.S. to limit Chinese investment in American tech firms

June 26, 2018

The recent heightened anxiety about trade among investors can be traced to a pair of events Sunday. Karl Schamotta, director of market strategy at Cambridge Global Payments, said that even though the actions by the USA administration and retaliating countries "occupy a diminishingly small niche in the flow of global trade", they are having important psychological effects.

Harley-Davidson Inc (NYSE:HOG) Stake Lowered by Prudential Financial Inc

June 26, 2018

For the next financial year, analysts anticipate that the firm will post earnings of $3.96 per share, with EPS estimates ranging from $3.80 to $4.05. Zacks Investment Research lowered shares of Harley-Davidson from a "hold" rating to a "sell" rating in a report on Tuesday, April 3rd.

Harley-Davidson responds to European Union tariffs by moving USA production overseas

June 25, 2018

In response to the US tariffs, the European Union began charging import duties of 25 percent on a range of USA products including big motorcycles like Harley's on June 22. To avoid harming dealers and undermining its business, Harley said it will swallow the cost. In the near-term, the company will bear the significant impact resulting from these tariffs, and the company estimates the incremental cost for the remainder of 2018 to be approximately $30 to $45 million.

European Union watchdog tells banks to speed up Brexit preparations

June 25, 2018

A smaller counter-march by Brexit supporters was also held in London. Opponents of Brexit, many waving European Union flags, marched through central London to Parliament on Saturday, calling for a referendum on whatever divorce deal is agreed between Britain and the EU.

Turkey's victorious Erdogan set to assume sweeping powers

June 25, 2018

An unexpectedly strong showing by the AK Party's alliance partner, the nationalist MHP, could also mean Erdogan securing the parliamentary majority he seeks to govern freely. The stakes in this election are particularly high as the new president is the first to enjoy enhanced powers under a new constitution agreed in an April 2017 referendum strongly backed by Erdogan.

Harley-Davidson to shift production overseas to avoid EU tariffs

June 25, 2018

The new 31% import tariffs came into effect on June 22 and were imposed by the European Union as a response to the steel and aluminium tariffs brought by the American government. The company said it will take a hit of $30 million to $45 million for the rest of this year. Harley-Davidson expects ramping-up production in global plants will require investment and will take at least 9 to 18 months to be fully complete.

Harley, blaming tariffs, will shift some manufacturing overseas

June 25, 2018

The business has seen its products hit with punitive import levies by the European Union as it retaliates against a 25pc tariff the U.S. placed on imports of steel and 10pc on aluminium. The company said it will take a hit of $30 million to $45 million for the rest of this year. The company's USA factories are in York, Pa.; Kansas City, Mo., and Menomonee Falls, Wis.

BRITAIN: 100000 March Against Brexit

June 25, 2018

Leading Brexit supporters , meanwhile, warned the British government not to delay or water down the divorce from the 28-nation bloc. People's Vote March Crowds. His criticism of Airbus, an aeronautical manufacturer which employs 14,000 people. Marchers will descend on Parliament Square, where speakers will include Liberal Democrat leader Sir Vince Cable, Tory former minister Anna Soubry, Labour's David Lammy and Green co-leader Caroline Lucas.

Germany's Merkel meets Lebanese president in Beirut

June 25, 2018

Unable to agree, they have become more restrictive on asylum and tightened their external borders to let fewer people in. She also played down expectations of a major breakthrough in talks between some European Union leaders on the migration dispute on Sunday, Reuters said.

9000 barrels of bourbon fall in Kentucky distillery building collapse

June 25, 2018

That part of the structure holds an estimated 9,000 barrels. Officials are checking to see if any alcohol spilled into a nearby water way, with initial water samples showing no signs of contamination, according to Nelson County Emergency Management director Joe Prewitt said.

Airbus to land elsewhere after losing patience with Brexit

June 24, 2018

But Airbus' UK boss, Katherine Bennett, told the BBC, "this is not project fear, this is dawning reality". "Put simply, a No Deal scenario directly threatens Airbus" future in the United Kingdom'. "We've got to be able to protect our employees, our customers and our shareholders, and we can't do that in the current situation". It has been a source of exasperation for some cabinet members that although many companies have privately expressed concern - even alarm - at the progress of the ...

Rats break into Indian bank's ATM, munch through S$24000 in cash

June 24, 2018

What they found inside the ATM was nearly $18,000 worth of shredded Indian rupee notes and one dead rodent that had somehow eluded the machine's security camera for its next. However, police did not find footage of a rat entering a machine after inspecting the surveillance camera, Sharma told Reuters . Police on Thursday said rats nibbled through more than Rs 12 lakh worth of banknotes after busting into a cash machine in Assam's Tinsukia district.

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