Economy / 103

McDonalds poster prank goes viral

September 06, 2018

Jevh Maravilla , a Filipino-American student at the University of Houston , frequented the McDonald's branch. The two said they eat at the McDonald's at 2803 Business Center Drive often. On Sunday night, Maravilla tweeted about the prank and in 24-hours, it has gone viral with more than 100,000 retweets and 400,000 likes. However, the local franchisee released the following statement.

Oil dips as U.S. storm threat eases; Iran sanctions loom

September 06, 2018

The Iranian rial hit a record low against the US dollar on the unofficial market Monday amid a deterioration in the economic situation and the reimposition of sanctions by the United States. "All of Iran's oil customers are affected by increasing United States pressure to halt purchases, even as they request for concessions to cope with the consequences", said Den Syahril, a senior analyst at industry consultant FGE.

An Upset: Pressley Topples Capuano In Nationally Watched 7th District Race

September 05, 2018

With no Republican on November's ballot for the district, Pressley is all but guaranteed to make history as the first black congresswoman from MA. Democratic congressional nominee Ayanna Pressley took a shot at President TrumpDonald John TrumpBrennan defends Kaepernick: He didn't kneel "to disrespect our flag" Trump warns Syria against attack on rebel stronghold: "Don't let that happen" Omarosa celebrates second week on bestsellers list despite "hit-pieces" from Trump allies MORE in ...

Amazon becomes the 2nd United States company to join the $1 trillion club

September 05, 2018

The online retail giant breached the $ 1 trillion valuation near 1540 GMT when it's share price hit $2,050.50. The milestone comes one month after Apple first passed the $ 1 trillion threshold on August 2 . For fiscal 2017, Amazon and its 560,000 employees around the world reported total sales of $177.87 billion, netting it an adjusted profit of $6.15 per share, according to the company's annual report .

Amazon Won’t Be Second to Apple for Long

September 04, 2018

Amazon has become the second publicly traded company to be worth $US1 trillion, hot on the heels of Apple. As soon as one company has reached that $1 trillion mark, you know it won't be long until another follows in suit - only weeks after it happened for Apple, Amazon has joined the ranks in the "trillion-dollar club".

Fuel prices hit all-time high, petrol Rs 86.56 per litre in Mumbai

September 03, 2018

Petrol is being sold at Rs 53.88 per litre ($0.64 a litre) in the USA while diesel at Rs 58.9 ($0.83 a litre). Diesel prices also rose to record highs on Monday. "I would like to mention two points, and both these subjects are external". Crude oil has gained $7 a barrel in a fortnight, driven by fears that the U.S.

California Passes a Strong New Net Neutrality Law

September 03, 2018

It would bar providers from collecting new fees from apps and sites as a condition of reaching internet users. And at least three U.S. states, including Washington State, have already signed a law in direct opposition to the FCC in order to stop Internet Service Providers from blocking websites or offering fast lane Internet access to companies willing to pay.

Chinese Government to Regulate Number of Video Games Published and Hours Played

September 03, 2018

The government hasn't given any explanation for a freeze on title approvals since March, prompting debate over whether it's a temporary halt due to regulatory reshuffling or whether Beijing is planning a crackdown in a wider campaign against online content.

Kenya inks Brexit free trade deal with British PM

September 03, 2018

She should appreciate the fact that miraa supports the economies of Meru, Embu and many other counties. Prime Minister Theresa May made the announcement at the Kenya-UK Business Forum held on Thursday at Strathmore University in Nairobi.

CBOE to Launch Ethereum Futures by the End of 2018

September 03, 2018

If this is true, it could mean a lot for Ethereum . "This announcement clears a key stumbling block for Ether futures, the case for which we've been considering since we launched the first Bitcoin futures in December 2017", said Chris Concannon, CBOE Global Markets President.

Google Bought Mastercard Data To Track Your Offline Purchases For Ad-Targeting

September 03, 2018

Google will record whether you have clicked an online ad and then purchased the same item within 30 days of clicking on the ad. Google apparently attempted to change this by striking a deal with Mastercard , leveraging the buying power of the company's close to two billion cardholders.

Trump to Federal Employees: No Pay Raises for You!

September 03, 2018

Tony Reardon, president of NTEU, added, "t$3 he call for a pay freeze for federal employees is especially painful given inflation and with economists predicting that private sector professional salaries will grow by an average of 3 percent this year".

Barnier stands firm on erecting post-Brexit border in Irish Sea

September 02, 2018

Brussels wants to show that the flow of goods from the rest of the United Kingdom into Northern Ireland is minimal, and that most of it comes via the Republic of Ireland . The Brexit secretary also joked that he was not a "gambler" when asked to predict when the so-called divorce deal, the Withdrawal Agreement, would be ready to sign.

GDP Growth Zooms To 8.2% In June Quarter

September 02, 2018

Finance Minister Arun Jaitley , on Thursday, said that India is all set to take over the United Kingdom as the world's fifth largest economy. In part, a favorable base effect is likely to support growth in the first quarter. The gross fixed capital formation (GFCF), which is a proxy for investments in the economy, grew at 10 per cent in the first quarter of this fiscal as against 0.82 per cent growth in the same quarter past year.

Argentina hikes interest rate to 60 percent; peso plunges

September 02, 2018

He insisted the path taken by Mr Macri since he took office in December 2015 was one "of fiscal balance, development and growth". Earlier on Thursday the peso fell to a fresh record low of 40.00 per U.S. Not only would budget belt-tightening likely deepen the economic recession toward which the country now seems to be lurching, it is also that the Macri government would not seem to have the political support for such belt-tightening, especially ahead of next year's general election.

Warren Buffett's firm makes an unlisted Indian entry

September 02, 2018

He will replace Amit Singhal, former head of Google's search business, who has left the board of the company. (DAL.N) and Southwest Airlines Co. The old policy allowed buybacks when Berkshire traded at below 1.2 times book value, but the Omaha, Nebraska-based company's shares have long traded above that level.

NAFTA talks pick up as deadline nears for US, Canada

September 01, 2018

The prime minister said Canada is "determined to conclude an agreement that's equitable for all the concerned parties". It's a tremendous amount of money and it's a very simple negotiation. Matt Blunt, president of the American Automotive Policy Council, which represents General Motors Co., Ford Motor Co. and Fiat Chrysler Automobiles NV, said the group was optimistic about the new deal, though it was still reviewing the details.

Trump threatens to pull out of the WTO

September 01, 2018

A United States withdrawal from the WTO potentially would be far more significant for the global economy than even Trump's growing trade war with China, undermining the post-World War II system that the United States helped build. In the interview, Trump said that at the WTO, "we rarely won a lawsuit, except for past year". "You know why? Because they know if we don't, I'm out of there".

Rupee slides to hit 71-mark, markets recover after opening low

August 31, 2018

Rising oil prices and the weakening currency have already created a ideal storm for India, where oil demand growth has been surging, but the higher oil prices are increasing the country's spending on crude oil imports, which account for 80 percent of Indian oil consumption.

Q1FY19 GDP beats estimates, grows at 8.2 percent

August 31, 2018

The Opposition has been critical of the Modi government in the aftermath of GST rollout and implementation of demonitisation. "Going ahead, I expect the growth rate to be moderate as private investment is unlikely to grow at a faster rate due to stressed assets", Shashank Mendiratta, India Economist, ANZ Bank , Bengaluru told news agency Reuters.

Trump cancels pay raise for federal workers

August 31, 2018

Last year, Trump approved a 1.4 percent pay raise for federal employees. The move drew a quick response from D.C. -area members and is nearly certain to draw howls from the Senate, which included a 1.9 percent pay raise in its Financial Services spending bill.

Coca-Cola digs into coffee with $5.1bn Costa purchase

August 31, 2018

Paying about 1 billion pounds more than some analysts had expected, Coke will use its distribution network to supercharge Costa's expansion as it chases current coffee chain market leader Starbucks (SBUX.O) and its nearly 29,000 stores across 77 markets.

Behold: A Flying Tesla Model S

August 31, 2018

While it's hard to make out on the CCTV footage above, the object you see flashing across the scene and landing in a shower of sparks is a Tesla Model S. Global News reports that the driver of the vehicle was charged with risky driving, and was treated at the hospital for minor injuries along with a passenger.

Facebook Watch to be available worldwide: Here is everything to know

August 31, 2018

However, keep spam-refreshing the Facebook Watch URL if you fancy finding out what it's about. The service was initially launched in the United States in 2017. Apparently more than 50 million people have watched videos on Watch for at least a minute and the total time taken to watch videos on the platform has increased by 14 times since the start of 2018.

JetBlue Increases 1st Checked Bag Fee to $30

August 30, 2018

For decades, it was standard for airline passengers to be allowed two free checked bags on virtually any flight. "Customers consistently tell us what they love most about JetBlue: free Fly-Fi on all aircraft, live television and free entertainment, the most legroom in coach, free snacks and great service", JetBlue spokesman Doug McGraw said in a statement to USA TODAY's Today in the Sky blog .

TPG, Vodafone Australia to merge in bid to compete against Telstra, Optus

August 30, 2018

One of Australia's most acquisition-hungry telcos, TPG, is to merge with mobile carrier Vodafone Australia. The merger will join both their fixed broadband and mobile services, with TPG Australia's second largest fixed line residential subscriber base of over 1.9 million subscribers, and Vodafone is now the third largest mobile telco with their recent financial announcement listing nearly 6 million subscribers.

Elon Musk's latest tweets rekindle concern

August 30, 2018

L. Lin Wood , a lawyer retained by the British diver Vernon Unsworth , whom Elon Musk called a " pedo ", is "preparing a civil complaint for libel" against Musk, BuzzFeed first reported. But, Musk on Wednesday was involved in the debate again on Twitter after a user asked him why he made the " pedo " comment. A spokesperson for Tesla issued a statement to Reuters welcoming the Ontario judge's ruling.

Nearly all of demonetised currency came back; 99.3% returned, says RBI

August 29, 2018

These estimates, it has not become clear, were wild guesses: the RBI has indicated that 99.3% of the demonetised currency or roughly Rs 15.31 lakh crore was returned. "That alone was a loss of Rs 2.25 lakh crore a year", he said in tweets. "(The) RBI report again proves that demonetisation was "Modi-made disaster" of epic proportions.

Bill Kelly: Is any NAFTA deal better than no deal?

August 28, 2018

Major sections of the deal have been agreed upon, including intellectual property rights and the auto sector, and it seems that those arrangements would be acceptable for the Canadian delegation as the three sides sit down together today in Washington .

United States and Mexico agree on NAFTA revamp, Canada 'encouraged'

August 28, 2018

After the USA and Mexico reached their deal to replace the North American Free Trade Agreement , officials said talks with Canada were expected to begin immediately in the hopes of reaching a final agreement by Friday. "Kansas farmers and ranchers continue to struggle with low commodity prices, made worse by retaliatory tariffs against US agricultural exports", said Sen.

Markets welcome Trump's new US-Mexico trade deal

August 28, 2018

Further details are expected to be released later today. US trade officials described the agreements reached over the weekend with Mexico as a big improvement over the current free trade pact between the three countries. It's a preliminary deal between the two countries. The deal would require 75 per cent of cars to be made in the NAFTA region, up from the current level of 62.5 per cent, a United States trade official said.

U.S. and Mexico tentatively set to replace NAFTA with new deal

August 28, 2018

Among other things, the agreement would reportedly require 40 per cent to 45 per cent of the content of autos traded tariff-free in the NAFTA zone to be made by workers earning at least US$16 per hour, higher than the usual wage in Mexican auto plants, while boosting the overall made-in-North America content requirement to 75 per cent from the current 62.5 per cent.

Toyota will reportedly invest $500 million in Uber

August 28, 2018

Gill Pratt, Toyota Research Institute CEO and TMC Fellow. The deal, which reportedly values Uber at about $72 billion, aims at "advancing and bringing to market autonomous ride-sharing as a mobility service at scale", Toyota said in a statement.

Will a Saudi Aramco IPO ever happen? | Inside Story

August 28, 2018

In his statement, Al-Falih said the timing of the listing would "depend on multiple factors, including favorable market conditions, and a downstream acquisition which the company will pursue in the next few months, as directed by its board of directors".

NAFTA is being renamed US-Mexico Trade Agreement

August 27, 2018

Talks have also been stymied by the Trump administration's insistence on a "sunset clause" that would end Nafta in five years unless all three countries agreed to continue it. It would also require 40 percent to 45 percent of auto content to be made by workers earning at least $16 per hour, a second official said. Still, an accord between the US and Mexico is the biggest development in talks that began a year ago, punctuated by Trump's repeated threats to quit altogether.

Bitcoin ETF Rejections Under ‘Review’ by SEC

August 27, 2018

There's now one remaining ETF proposal still being considered by the SEC. In her tweets , Commissioner Peirce stated that it was not the SEC commissioners who actually denied the ETF proposals. The Commodity Futures Trading Commission has allowed bitcoin futures to start trading, and yet the SEC says that the market is vulnerable to manipulation.

Ryanair says to charge for carry-on suitcases

August 27, 2018

Passengers who do not pay for priority boarding are now permitted to take a small bag on board, while a second larger bag such as a wheelie suitcase up to 10kg can be put in the hold free of charge. The size of free hand luggage has been slightly increased but anyone who's bag doesn't fit in the sizer at the airport will be charged £25 to put their bag in the hold.

Powell signals more hikes ahead if US economy stays strong

August 26, 2018

Powell, speaking at the annual Jackson Hole monetary conference, also said declining economic mobility, an unsustainable federal deficit and low productivity are long-term structural challenges. "The market's not cheap, but it's not as demandingly valued as many think it should be given that we continue to reach new highs", he said. Although George noted that "expressions of angst" from the White House when there are higher interest rates is not necessarily unique to the Trump ...

Verizon slowed internet speed for first responders to fire

August 26, 2018

But in this case, officials have emphasized, homes and even lives were at stake. He added that the company plans to introduce a new " unlimited data" plan next week. Verizon Wireless said it would launch an unlimited plan next week with no speed caps for data use. "It is unacceptable for communications providers to deceive their customers, but when the consumer in question is a government entity tasked with fire and emergency services, we can't afford to wait a moment longer", the ...

Musk says investors convinced him Tesla should stay public

August 26, 2018

Musk said his main motivation for keeping Tesla public was entreaties from shareholders. And after you read that, watch out, Tesla reporters are going to be spinning this every way by Sunday this weekend. "Personally, I'm going to look to see how the stock opens on Monday". During that time, Musk also seemed hash out most of the details on social media.

Donald Trump's finance chief Allen Weisselberg given immunity in Cohen probe

August 26, 2018

Then Trump added: "President Obama had a big campaign finance violation and it was easily settled!" An assistant said both were out of the office Friday. "You have this Cohen guy, he doesn't know anything about Russian collusion, doesn't know anything about obstruction, he's a massive liar", he said.

AK-47 maker Kalashnikov unveils new electric auto to rival Tesla

August 26, 2018

Russia's biggest gun manufacturer is looking to take on Tesla with its new electric concept auto. Kalashnikov presented the prototype of the vehicle, CV-1, at an event near Moscow on Thursday. The company also unveiled a giant 13ft gold robot. CV-1 has a new high-speed system of modular control batteries and a system that balances various working elements, taking into account the slightest difference in the characteristics of each.

Supply pressures add up to rally in crude oil prices

August 26, 2018

USA oil prices went up 3.07 percent on Wednesday as a result of higher-than-expected decrease of crude oil stocks in last week and weaker US dollar against main currencies. A key index of the dollar versus a basket of other currencies.DXY fell on Friday, boosting the price of oil and other dollar denominated commodities.

Longtime Trump Organization CFO granted immunity in Cohen case

August 26, 2018

While both men were granted immunity in the weeks before Cohen's plea, they are theoretically obligated to cooperate in future related federal probes . On Tuesday Paul Manafort, at one time Trump's campaign chairman, was convicted of five counts of tax fraud, two counts of bank fraud and one count of failure to disclose a foreign bank account.

Trump Organization finance chief 'gets immunity' in Cohen probe

August 25, 2018

Toobin argued that immunity for Weisselberg is "enormously significant", and said "investigators now have a basically complete window into the financial operations of the Trump Organization". That possibility raises the stakes significantly for Trump, threatening not just his political future but his wealth. Trump had previously said that for Mueller to investigate his businesses would be a "red line".

Austria's Kurz wants to help EU's Barnier avoid a hard Brexit

August 25, 2018

Lending and deposit services and insurance are other services under threat if you are an expat. The chancellor also pointed to how the analysis estimated government borrowing would be around £80bn a year higher by 2033-34, if the United Kingdom were to trade with the European Union on World Trade Organisation rules.

The Aftermath of the Paul Manafort and Michael Cohen News

August 25, 2018

Two people familiar with the President's thinking say this is classic Trump, because he does not tend to be as confrontational in person, despite his self-described penchant for fighting back. Earlier in the week, President Trump ripped Cohen on social media . In interviews this week, Davis has stirred Washington with claims that Cohen has information of interest to special counsel Robert Mueller's collusion probe.

Stocks mixed even as S&P 500 index marks longest bull run

August 25, 2018

Microsoft is second, with a 2.4 percent contribution, according to Silverblatt. The longest bull run in American stock market history was confirmed yesterday amid turmoil in the White House and the growing threat of a trade war between the United States and China.

U.S., Mexico Push for NAFTA Autos Deal, Eye Canada's Return

August 25, 2018

President Donald Trump, who launched the renegotiation of the 1994 pact a year ago, has said he wants the reworked deal to bring manufacturing jobs back to the United States , particularly in autos and auto parts, the news agency noted. "NAFTA is a trilateral agreement, but inside that agreement there are a lot of issues that are chiefly bilateral and that is what they're focused on", Freeland said.

USA disregard for Turkish legal process 'unacceptable': Erdogan spokesman

August 24, 2018

After the U.S. Embassy in Ankara on Monday was targeted by gunfire, Erdogan remained defiant, asserting that Turks would not be brought "to their knees" by the economic crisis . In the Reuters interview, he ticked off areas that he discussed privately with Putin, including security for Israel , Syria and Russia's annexation of Crimea and incursion into eastern Ukraine, and the Nord Stream 2 pipeline from Russian Federation to Germany that will supply natural gas to Germany.

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