Economy / 106

China rejects United States demand to reduce Iran oil imports

August 05, 2018

Following Trump's decision to quit the historic Iran nuclear pact on May 8, the United States vowed to reimpose sanctions lifted under the accord against Iran and inflict punishments like secondary sanctions on nations that have business links with Iran.

The Europeans fleeing from the sweltering heat in the fountains

August 05, 2018

LISBON-Eight places in Portugal broke local temperature records as a wave of heat from North Africa swept across the Iberian peninsula - and officials predicted the scorching temperatures could get even worse over the weekend. Temperatures reached 33 Celsius in west London on Friday but are forecast to drop going into next week. In eastern Europe, Poland endured unusually high temperatures up to 34 degrees Celsius (93.2 Fahrenheit), forcing its power plants to go into emergency mode to ...

House of Fraser rescue deal collapses as Hamley’s owners walk away

August 04, 2018

It's worth recalling that in order to alleviate its piling debt, House of Fraser agreed a controversial restructuring deal with its landlords in June. Andrew Busby, of the consultancy Retail Reflections, said the chain's only hope for survival could be a merger with rival Debenhams. House of Fraser said: "Discussions [with alternative investors] are ongoing and a further announcement will be made as and when appropriate".

Conor McGregor vs Khabib Nurmagomedov Announced For UFC 229

August 04, 2018

UFC President Dana White has officially announced that Conor McGregor will make his return to the octagon at UFC 229 in Las Vegas on October 6. McGregor has not fought in UFC since 2016, but his fame grew so quickly he was regarded as a good enough opponent for Floyd Mayweather's retirement bout - a fight McGregor lost, albeit valiently, in the 10th round past year.

China to Respond If US Provokes Escalation of Trade War - Foreign Ministry

August 04, 2018

Comparative advantage is the ability of a country to carry out a particular economic activity more efficiently than another country. This wave of tariffs would include a wide range of products, from dog food to furniture, bicycles to beauty products .

Molson Coors Forms JV with Canadian Cannabis Company, Shares Q2 Results

August 04, 2018

Construction is scheduled to be completed by year's end. "The cannabis revolution is in full swing while the alcohol industry appears to be largely sitting on the fence, drink in hand, occasionally throwing crumpled cans in the general direction of the ongoing legalization debate", alcoholic drinks industry analyst Spiros Malandrakis told The Drinks Business .

China threatens U.S. with $60B in tariffs on coffee, honey

August 04, 2018

The two countries have already imposed about $ 34 billion worth of tariffs on each other. China announced a list of US$60 billion worth of USA imports it plans to apply tariffs on should the Trump administration follow through with its latest trade threats.

Secretary of State Pompeo Meets with Turkey's Foreign Minister in Singapore

August 04, 2018

Pompeo met with Turkish Foreign Minister Mevlut Cavusoglu in Singapore during a security conference in Southeast Asia. "It's pretty straightforward. On Wednesday, the White House announced that it was imposing sanctions on Turkish Justice Minister Abdulhamit Gul and Interior Minister Suleyman Soylu.

Apple is officially worth more than $1 trillion

August 03, 2018

Amazon is still a distant second if you take into consideration the next two companies in the upper echelon of the United States market cap ladder: Google parent Alphabet and Microsoft are both breathing down Amazon's neck, with valuations of $852.73 billion and $822.78 billion, respectively.

Apple at $1 Trillion: By 2019, Apple May Be Worth $1.4 Trillion

August 03, 2018

In a call with investors, CEO Tim Cook also touted growth in other areas such as smart home products, wearables, and services like the App Store and Apple Pay. The shares are up 23 percent so far this year. The whole piece may seem pretty cringey in retrospect given Apple's subsequent revival, everything from the "The fall of an American icon" headline to predictions of irrelevance - "Apple has lost something it's unlikely to win back: the technology leadership that made the Macintosh so ...

China threatens US with $60B in tariffs on coffee, honey

August 03, 2018

The commerce ministry issued a statement saying the new duties would be applied if Washington pulled the trigger on President Donald Trump's threat to raise tariffs on $200 billion worth of Chinese goods. China called its move a "necessary counter-measure". Other U.S. goods targeted by China also included semiconductors, some helicopters, small-to-mid-sized aircraft, condoms, beef, steel products and coffee.

Apple has become the world's first trillion dollar company

August 03, 2018

Of course that's just what happened . Shares of the company rose 3% Thursday, and are up about 31% over the past year. Apple also released a kit for developers to create augmented-reality experiences on iPhones or iPads, saying that "overnight iOS became the biggest AR platform in the world".

China warns U.S. over additional tariffs on $200 billion of goods

August 03, 2018

China said on Wednesday that "blackmail" would not work and that it would hit back if the United States takes further steps hindering trade, including applying the higher tariff rate. USA stocks were mixed. US trade representatives are trying to re-engage China in trade talks to de-escalate tensions between the two countries. "So, the basic foundation of US-China cooperation is very strong", he said.

Apple is first public company worth $1 trillion

August 03, 2018

Apple is the first USA company to hit the $1T milestone; here's why AAPL shares can climb even higher. FILE - In this April 24, 1984, file photo, Steve Jobs , left, chairman of Apple Computers, John Sculley, center, president and CEO, and Steve Wozniak, co-founder of Apple , unveil the new Apple IIc computer in San Francisco.

RBI increases key rate to 6.5% on inflation worries

August 03, 2018

The jump in interest rates is a small win for savers - which amounts to around 45 million people, according to official figures. How many more rate rises can we expect? The Bank of England raised its benchmark interest rate to the highest level since 2009 in what may be its final blow against inflation before the United Kingdom leaves the European Union.

Oil prices fall as OPEC increases production

August 02, 2018

It has rebounded to above $70 a barrel since April as the Opec cartel, which pumps a third of the world's crude, cut supplies to bring the market back into balance. Workers in three oil fields in the North Sea started shutting down output before industrial action planned for Monday, while some tankers altered course after Saudi Arabia suspended crude shipments through a key Red Sea transit route.

Bank of England hikes interest rates

August 02, 2018

It also noted that households' inflation expectations have risen significantly in the last two rounds along with the expectations of manufacturing firms of a hardening of input prices. With the policy rate increase expected to get transmitted with a lag, customers will have to brace themselves for much higher rates in the future. Around two thirds of its mortgage customers are now on fixed-rate products and so will not see their rate change during their fixed-rate period.

Chipotle reopens in Ohio after reports of illnesses

August 02, 2018

Chipotle Mexican Grill closed a restaurant in Powell, Ohio , on Monday because of a "handful of illness reports" the company said . Chipotle shut down the Powell restaurant on Monday over reports of customer and employee illnesses.

Virginia's Annual Sales Tax Holiday Weekend is August 3-5

August 02, 2018

Pinson said this weekend is good exposure for OH - a lot of surrounding states participate in the tax free holiday . Many items have been selling out, but Target Executive Team Leader Era Parrish says school supplies in particular has had the most sales.

Apple hits record $1T U.S. stock market valuation

August 02, 2018

The company also boosted its revenue from services, including Apple Music and the app store. The company on Tuesday reported second-quarter earnings that topped Wall Street expectations , sending shares surging by more than 5% into Wednesday.

China warns against blackmail as Donald Trump considers higher tariffs

August 02, 2018

The Trump administration says it's looking into whether to increase the proposed tariff on 200 billion US dollar worth of Chinese imports from 10 percent to 25 percent. The higher tariff rate, if implemented, would apply to a list of goods valued at $US200bn identified by the USTR last month as a response to China's retaliatory tariffs on an initial round of U.S.

Google planning China search app, ending long boycott

August 02, 2018

Google withdrew its search engine from China eight years ago due to censorship and hacking but it is now working on a project for the country codenamed " Dragonfly ", the employee said on condition of anonymity. The company chose to quicken the development of a censored search service after Mr Pichai met with top government official Wang Huning in December 2017, the Intercept reported.

RBI hikes lending rate, loans likely to become dearer

August 02, 2018

Among the Monetary Policy Committee panel members, Dr Chetan Ghate, Dr Pami Dua, Dr Michael Debabrata Patra, Dr Viral V Acharya and Dr Urjit R Patel voted in favour of the decision while Dr. "First, the central government has made a decision to fix the minimum support prices (MSPs) of at least 150 per cent of the cost of production for all kharif crops for the sowing season of 2018-19", RBI said adding that this increase in MSPs for kharif crops, which is much larger than the average ...

For TSA's "Quiet Skies" Program, Air Marshals Followed Travelers' Every Move

August 02, 2018

If so, there's a chance that federal air marshals have reported you under a previously undisclosed program called " Quiet Skies ". The Boston Globe on Sunday first reported on the program, which started in 2010. It said the program was necessary to keep the skies safe. Citing agency documents, it said that all US citizens arriving in the country are screened under Quiet Skies , but travelers being monitored are not notified.

Dollar seesaws against yen

August 02, 2018

The primary tweaks that the BOJ may consider include allowing interesting rates to fluctuate in a wider band around the central bank's target and broadening the universe of equities that it buys. The new forecasts show the BoJ's struggle to stoke inflation, while its peers in the United States and Europe normalise policy. It will be looking for some relief on Thursday, when the BoE is widely expected to raise interest rates for only the second time since the 2008 financial crisis.

Tesla flags promise of profit as Model 3 production steadies

August 02, 2018

On an adjusted basis, Tesla lost $3.06 per share, missing the consensus estimate of $2.92. Several analysts had predicted a widening loss for Tesla . Ultimately, the electric vehicle manufacturer wants to see its factories churning out 10,000 units per week by the end of this year, doubling the current rate of production.

Trump administration sanctions Turkish officials over detained American pastor

August 02, 2018

The two officials targeted by sanctions " played leading roles in the organizations responsible for the arrest and detention " of Brunson , the US Treasury's Office of Foreign Assets Control (OFAC) said in a statement . "I don't have any assets or money in the United States nor in any other countries". He is also charged with ties to the movement of US-based cleric Fethullah Gulen whom Erdogan blames for the failed coup.

Parasite scare sparks recall for salads, wraps sold at Trader Joe's, Walgreens

August 02, 2018

The products were produced between July 15 to 18 and have "Best By", "Enjoy by", "Best if Sold By" or "Sell By" dates ranging from July 18 through July 23, 2018. The infection can cause Cyclosporiasis. The symptoms include diarrhea, stomach cramping, nausea, weight loss, and fatigue. Symptoms can develop more than a week after consuming contaminated food or water.

Majority Of Voters Now Back A Second Brexit Referendum, Poll Shows

August 01, 2018

As before the referendum, when President of the European Council Donald Tusk warned Brits that voting to Leave could mean "the end of Western political civilisation" and David Cameron asked then-U.S. According to YouGov, the majority of voters would like the opportunity to approve (or not) the final Brexit settlement between London and Brussels.: 70% of Liberals, 58% of Labour and 21% of Conservatives want a second referendum.

RBI hikes repo rate, EMIs and home loans may get costlier

August 01, 2018

The move will make the home loans dearer and will have direct impact on the borrowers as the rate hike will lead to banks raising their interest rates in loans. For the July-September quarter, RBI pegged CPI-based retail inflation at 4.2 per cent which it sees firming up further to 4.8 per cent in the second half of the current fiscal.

Why you shouldn't fill that free water cup up with soda

August 01, 2018

She was trying to smack for a long time. Then she grabbed the divergent client and began to beat her head on the counter. "I was bleeding because I hit her in the teeth, otherwise, that's all I got". She then picks the woman up and throws her over a nearby table as other employees and a customer try to break up the fight. Eventually, Fontelar is thrown onto a seat after receiving quite the beating.

Samsung leads global smartphone market, Huawei pips Apple

August 01, 2018

The U.S.is the biggest smartphone market in terms of revenue generation, with Apple and Samsung having the biggest piece in it. The success of Huawei is attributed to the exceptional performance of its new flagship phones , the P20 and the P20 Pro .

Uber shuts down self-driving truck division to concentrate on autonomous cars

August 01, 2018

An Uber logo is seen on a vehicle as it auto drives through Times Square in New York City, New York, US Friday. "We believe having our entire team's energy and expertise focused on this effort is the best path forward", Meyhofer said in his statement.

Pricier iPhones Lead Apple to Beat Earnings Expectations

August 01, 2018

Apple ended the trading day with a market cap of $935.3 billion. With approximately 4.9 billion shares, it will take the stock price of about $204 for Apple to reach $1 trillion. -China trade disputes, but President Donald Trump has threatened hundreds of billions of further tariffs whose product categories have not yet been enumerated.

'HUNGRY 4 SUCCESS' sign lands homeless Texas native over 200 job offers

July 31, 2018

She rolled down her window and called Casarez over to her auto. Scofield's tweet went viral, racking up hundreds of thousands of hits over the weekend. "To make it work, he put his ego aside to hand out resumes on the street". While many discussed how Silicon Valley is a double-edged sword. "If I were in that position, I'd want somebody to help me".

Harley-Davidson Developing Motorcycles For Indian Roads

July 31, 2018

With the engine capacity that it's going to have, and Harley's positioning in the market as a premium manufacturer, we're expecting the Pan America to be battling it out with the likes of the KTM 1290 Super Adventure, BMW R1200GS Adventure, and Ducati Multistrada 1200.

Tesla Released a $1,500 Surfboard That Sold Out In a Day

July 31, 2018

Model S, X and 3 can comfortably accommodate this surfboard on either the inside or outside of the vehicle . Tesla added surfboards to its gift shop on Saturday. According to The Drive , the Tesla boards appear to be geared toward collectors, and not for riding the actual waves. If you're a surfer yourself, you might be skeptical about a vehicle company's ability to create a quality surfboard.

McDonald’s launches global currency MacCoin

July 31, 2018

More than $6.2 million worth of Mac coins will be distributed world-wide. McDonald's on Monday unveiled the golden-colored MacCoin to commemorate the 1968 national launch of the Big Mac, whose ingredients of "two all-beef patties, special sauce, lettuce, cheese, pickles, onions and a sesame seed bun" were seared into American memories by a TV jingle.

European Union says farming 'not part' of United States trade deal, contradicting Trump

July 30, 2018

The two agreed to work toward "zero" tariffs and hold off on additional tariffs at the meeting at the White House on Thursday. For our exporters, who are more reliant on China than ever before, they need to plan for a weaker exchange rate that will make our products more expensive and a slower economy that could reduce demand for our products.

Facebook could lose $151 billion in market capitalization today

July 30, 2018

Shareholders often sue companies in the United States after unexpected stock price declines, especially if the loss of wealth is large. The impact on the rest of the FAANG group of high-flying tech stocks was marginal. "The guidance from management over their expectations for revenue growth to decelerate so markedly for the rest of the year did take us, and the market, by surprise", said Christopher Rossbach, chief investment officer at J.

Donald Trump 'deal' with European Union boss Jean-Claude Juncker averts trade war

July 29, 2018

Trump said he "opened up Europe for you farmers", to a crowd in Iowa on Thursday. An EU official said there was significant pressure from Trump administration officials to increase EU soybean purchases as part of any trade deal. "Great for global economy", tweeted German Chancellor Angela Merkel's economy minister, Peter Altmaier. Mr. Trump also won a commitment to work together to reform the World Trade Organization to address some of his complaints about China on theft of USA ...

President Trump 'Open to Visiting Moscow' If Putin Formally Invites Him

July 28, 2018

President?" The president has been widely criticized for failing to publicly denounce Russia's interference in the 2016 United States election and appearing to accept Putin's denials of such activity. But it's just talk at this point. Trump has denied the allegations. Asked whether Trump had directed the decision, Gidley replied: "The president does feel strongly about this".

Facebook-led tech slump dims broader gains for U.S. stocks

July 28, 2018

It picked up 31 cents to settle at $69.61 per barrel on Thursday. Volume on US exchanges was 6.61 billion shares, compared to the 6.09 billion average for the full session over the last 20 trading days. Facebook shares dived 18.5 percent, set for its biggest one-day percentage drop ever, after the social media giant said profit margins would plummet for years due to costs to improve privacy safeguards and slowing usage in its big advertising markets.

The President Says 4.1% GDP GROWTH is JUST THE BEGINNING

July 28, 2018

But most economists took issue with that forecast, saying the pace of growth in the April-June quarter won't likely last in the months ahead. FACT CHECK: Following a tax overhaul approved in December, U.S. Exports are a particularly dramatic example. In his IL speech, Trump credited his tariffs with boosting the economy and helping the Granite City steel plant reopen, Fox reports .

White House Bars CNN Correspondent After She Questions Trump

July 28, 2018

His invitation for Trump to come to Moscow - whether the invitation has been formally tendered or is only in spirit - also appears to pressure Trump to show whether he is bold and disruptive enough to buck intense criticism at home. dollar, even though Washington has undermined trust in its currency by using it as an argument in political disputes. "Just because the White House is uncomfortable with a question regarding the news of the day doesn't mean the question isn't relevant and ...

Mattis: 'No Policy Changes' Made During Trump-Putin Meeting

July 28, 2018

Lawmakers have urged the White House to reveal what was discussed during the more than two-hour-long meeting between Trump and Putin. Putin told reporters at a summit in South Africa that he and Trump needed to meet in person - not chat over the phone - about issues like the Iran nuclear deal, Middle East conflicts and arms control treaties.

Europe carmakers surge on US-EU truce

July 28, 2018

A pan-European Business Confederation on Thursday applauded the trade relations agreement. Yet there was widespread praise among European governments and business for the Commission's strategy, in renewing offers that Trump had dismissed in the past for more free trade talks and sticking to its own threat of retaliation against United States products by the world's biggest economic bloc.

Facebook Shares Sink; Further Growth Drops Expected

July 28, 2018

The Facebook founder still owns a 13 percent stake in the company, but the slump in share price saw more than $12bn wiped from his net worth in just 24 hours. The slump is the biggest drop in market capitalisation in history - far exceeding Intel's $91bn single-day loss in September 2000. "We plan to grow and promote certain engaging experiences like Stories - that now have lower levels of monetization - and we are also giving people who use our services more choices around data ...

Twitter shares plunge on news of drop in users

July 28, 2018

Twitter's second-quarter net income hit $100.1 million, after a loss a year ago during the same period. The social media company also predicted further declines in the next few months. "We want people to feel safe freely expressing themselves and have launched new tools to address problem behaviours that distort and distract from the public conversation".

Xi urges fellow BRICS countries to reject go-it-alone trade

July 28, 2018

After all, while the BRICS still emphasize the importance of multilateralism, it is clear that they are not wedded to the current global order. The Trump administration's trade war with China, the world's second-largest economy, and other major trading partners has given focus to the summit to rally support for what Xi called "common prosperity".

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