Business

Business Trump claims tariffs on foreign nations will rescue USA steel industry
Author: 0 Trump claims tariffs on foreign nations will rescue USA steel industry

Trump tweeted. That strained relations with USA allies. But perhaps most worrying for American businesses selling in China , a significant minority of the people interviewed - 14, or 28 percent - want to stop buying American products now, and some say they are already boycotting anything made in the U.S.

Business Turkish lira weakens as US warns of more sanctions
Author: 0 Turkish lira weakens as US warns of more sanctions

Explaining the new tariffs, Turkish Vice-President Fuat Oktay said the rises were ordered "within the framework of reciprocity in retaliation for the conscious attacks on our economy by the U.S. Few saw a Bank of England interest rate hike earlier this month as a vote of confidence in the economy, since Britain's future, and access to European markets, remains in doubt.

Business China, US to hold trade talks in late August
Author: 0 China, US to hold trade talks in late August

News of the meeting gave a lift to the yuan and helped cap losses in China's stock markets. The countries imposed steep tariffs on billions of dollars of each other's exports this summer and have threatened more . side by the Treasury Department, not the U.S. Trade Representative (USTR). Washington is due to activate additional tariffs on $16 billion of Chinese goods on August 23, and Beijing has said it will respond in kind.

Business Oil up on Iran sanctions
Author: 0 Oil up on Iran sanctions

Oil prices dipped on Tuesday as rising trade tensions dented the outlook for fuel demand growth especially in Asia, although USA sanctions against Iran still pointed towards tighter supply. Hedge funds and other money managers reduced their bullish positions in US crude futures and options in the week ending 7 August, data from the US Commodity Futures Trading Commission showed on Friday.

Business Cars plunge in Italian highway bridge collapse; 20 killed
Author: 0 Cars plunge in Italian highway bridge collapse; 20 killed

But he added that they were about to launch a 20 million euro ($22.7 million) bidding process for significant safety work on the bridge. "It seemed like a scene from a film, it was the apocalypse", he added. Rescuers scoured the wreckage of Italy's bridge collapse on Wednesday (Aug 15) as the death toll climbed to 38 and the government blamed the bridge's private owner, demanding resignations and moving to strip its toll concession.

Business Saudi wealth fund PIF has shown no interest in bankrolling Tesla buyout
Author: 0 Saudi wealth fund PIF has shown no interest in bankrolling Tesla buyout

Two class actions suits have been filed against Elon Musk , the Founder and CEO of electric auto manufacturing company, Tesla Inc and the company itself. Tesla borrowed at hefty interest rates a year ago, the person said, an additional cost burden for a company that had only $2.2 billion in cash flow at the end of June.

Business Turkey tries to contain crisis but currency keeps falling
Author: 0 Turkey tries to contain crisis but currency keeps falling

Not a lot, on the face of it. "This may fuel volatility in EM assets and dampen investor sentiment in the near term, as markets are already skittish". Yet both have avoided the shellacking meted out to the Turkish lira because their central banks have shown a willingness in recent months to respond to drops in their currency (a weaker currency means higher imported inflation ) by raising interest rates.

Business Tesla's Musk Faces Class Action Suits Over Tweet
Author: 0 Tesla's Musk Faces Class Action Suits Over Tweet

The transaction would be structured with equity so as not to burden Tesla with crushing debt, Musk added. Musk's tweet announcing the deal - and a proclamation of "Funding secured" - shocked investors, and he has yet to back up his claim that he has financing for the transaction.

Business ‘Suicidal’ mechanic steals plane from Seattle airport
Author: 0 ‘Suicidal’ mechanic steals plane from Seattle airport

The hijacker has been described as a 29-year-old mechanic who worked for an "unknown airline ". The plane was taken from a maintenance position and was not scheduled for a passenger flight, said Gary Beck, Horizon Air's president and chief executive officer.

Business 25% tariff on electric bikes shipped into United States takes hold August 23rd
Author: 0 25% tariff on electric bikes shipped into United States takes hold August 23rd

The tariffs will be activated on August 23, the ministry said , the same day that the United States plans to begin collecting 25 percent extra in tariffs on $16 billion of Chinese goods . The decision follows Washington's announcement Tuesday that it will implement levies on $16 billion of Chinese products starting from the same date.

Business Musk tweets he may take Tesla private and shares roar
Author: 0 Musk tweets he may take Tesla private and shares roar

Trading was temporarily suspended, but Tesla stock closed at $379.57 (£293.33 / €327.25) which is an increase of almost 11 percent. I own about 20% of the company now, and I don't envision that being substantially different after any deal is completed.

Business China proposes retaliatory tariffs on $60B of USA products
Author: 0 China proposes retaliatory tariffs on $60B of USA products

Those tariffs have already started to affect some businesses, though only a small fraction of the USA economy is experiencing consequences. Commenting on the latest US move to add some Chinese companies into its list of entities subject to USA export controls, the MOC said that China stands firmly against US unilateral sanctions on Chinese entities.

Business Oil dented by rising tide of supply
Author: 0 Oil dented by rising tide of supply

Prices had tumbled to a six-week. Furthermore, Weekly Distillate Stocks rose by 2.983 million barrels and Gasoline inventories dropped by 2.536 million barrels, coming in above prior surveys. LONDON-Oil prices edged up Friday after a week of oscillating between steep losses and gains. The higher supplies from OPEC and Russian Federation are contributing to growing signs of a new glut in the oil market and that is adding to concern a trade war between the USA and China could curb ...

Business Iran refuses talks with U.S. under coercion
Author: 0 Iran refuses talks with U.S. under coercion

The Trump administration said it wanted Iran's oil customers to stop imports by then. 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.

Business U.S. job creation slows as employers scrounge for labor
Author: 0 U.S. job creation slows as employers scrounge for labor

Americans with fewer skills are also benefiting from hiring managers' desperation: The unemployment rate for those without a high-school degree fell to a record low in July. Despite many businesses' trouble finding qualified workers, they are still hiring and looking outside traditional pools for talent. The Fed left interest rates unchanged on Wednesday while painting an upbeat portrait of both the labor market and economy.

Business Bank of England Raises Interest Rates to Highest Level Since 2009
Author: 0 Bank of England Raises Interest Rates to Highest Level Since 2009

Replying to a question, Valecha said it is cheaper to get a loan in the UAE than in India despite this hike, although the US Federal Reserve is supposed to raise rates much more aggressively than the RBI. Given that a rate hike is nearly a foregone conclusion, other parts of the MPC's decisions, and the minutes of the meeting are likely to provide more intrigue.

Business Samsung Galaxy Tab S4 Features DeX for a 'PC-Like Experience'
Author: 0 Samsung Galaxy Tab S4 Features DeX for a 'PC-Like Experience'

The operating profit for the chip division accounted for 78.1 percent of the entire pie, trailed by the IT and Mobile Communications division at 17.9 percent. The mobile market condition will likely remain challenging in the second half amid pricing competition and new product launches, said Samsung. People are holding on to their high-end smartphones for longer periods of time between upgrades, Lee said, meaning fewer people are rushing out to buy flashy new models each year.

Business Elon Musk Takes on Short Sellers Ahead of Earnings
Author: 0 Elon Musk Takes on Short Sellers Ahead of Earnings

The losses were exacerbated by Tesla's 29% gains last quarter - decimating Einhorn's short position in the stock - making it his "second biggest loser" for the six-month period. Net loss attributable to common shareholders for the April-June quarter amounted to $717.5 million, or $4.22 per share, which was more than some analysts expected.

Business U.S. sanctions Turkish officials over pastor’s detention
Author: 0 U.S. sanctions Turkish officials over pastor’s detention

It said Turkey would "respond in kind without delay" against what it described as an aggressive stance by the United States. White House spokeswoman Sarah Sanders called Brunson's detention "unfair", saying that Trump had spoken with Turkey's Recep Tayyip Erdogan about the pastor.

Business Apple closes in on becoming the world's first US$1 trillion company
Author: 0 Apple closes in on becoming the world's first US$1 trillion company

Unit sales of 41.3 million fall pretty in line with Wall Street expectations (the consensus was around 41.6), but while units are up year-on-year only 1 percent, revenue over the same period is up 20 percent. It rose 31 percent compared to the same quarter previous year, putting it at $9.54 billion. Profit came in at US$2.34 per share. Apple shares rose about 3.5 per cent in extended trading on Tuesday.

Business Harley-Davidson Streetfighter Designed By Indian Designer
Author: 0 Harley-Davidson Streetfighter Designed By Indian Designer

In a bid to attract customers globally, the company is also revamping stores, partnering with online retailers and launching a 1250cc custom model, Pan America , and a middleweight 975cc Streetfighter model in 2020. In an investor communication, Harley-Davidson said, "We intend to enter into a strategic alliance in Asia to launch a 250-500cc motorcycle within 2 years in India, and into other emerging markets in Asia over time".

Business NY state revokes approval of Charter-Time Warner Cable deal
Author: 0 NY state revokes approval of Charter-Time Warner Cable deal

To obtain approval in New York, Charter agreed to extend its high-speed broadband network to 145,000 unserved or under-served homes and businesses over four years. The company said it has extended its advanced broadband network to more than 86,000 NY homes and businesses since the merger agreement and is focused on continuing that work.

Business Zuckerberg loses more than $15 billion in record Facebook fall
Author: 0 Zuckerberg loses more than $15 billion in record Facebook fall

If that loss holds through Thursday's close, he will slip to sixth place from third in the Bloomberg Billionaires Index. "There are always going to be these one-day disasters". According to techcrunch.com, it seems as if Facebook announced the stat in hopes of deflecting attention from the fact that its user count shrank in Europe and was flat in the United States and Canada, contributing to extraordinarily low monthly and daily user growth.

Business Trump, Juncker announce deal pulling back from US-EU trade war
Author: 0 Trump, Juncker announce deal pulling back from US-EU trade war

Jean-Claude Juncker, the president of the European Commission, said that the EU and the US will "hold off further tariffs and reassess existing tariffs on steel and aluminum". Some of fruits to be hardest hit by the trade policies are cherries - which are now facing a 50% tariff going into China - and apples, which have been hit by higher tariffs in China and Mexico, with India set to also implement additional duties next month in response to US duties on steel and aluminium imports.

Business $543M jackpot Mega Millions winning Lotto ticket sold in San Jose
Author: 0 $543M jackpot Mega Millions winning Lotto ticket sold in San Jose

One report says there's a one in 302 million chance of winning the $522 million jackpot. The Mega Ball number was 20 and the Megaplier, 3 (one, two, four, nineteen, twenty-nine; Mega Ball: twenty; Megaplier: three). 522M Mega Millions jackpot victor bought ticket at Ernie's Liquor in San JoseCalifornia Lottery officials held a press conference Wednesday with the owners.

Business Facebook’s stock plummets on worries about its user and revenue growth
Author: 0 Facebook’s stock plummets on worries about its user and revenue growth

The update showed the key metric of monthly active users rose 11 per cent to 2.23 billion, below most estimates of 2.25 billion, while daily active users grew a weaker-than-expected 11 per cent to 1.47 billion. Facebook also missed the revenue projections of most analysts for the second quarter. Despite the fact that the company earned $5.106 billion in profit and revenue was up 42 percent year-over-year, the stock was down.

Author: 0 Sergio Marchionne: a great life, in pictures

He was due to step down at FCA in April next year. It is now the world's seventh-largest carmaker and is debt-free. FCA Chairman John Elkann: The Agnelli family scion and Marchionne's boss praised his mentor's "values of humanity, responsibility and open-mindedness", adding, "My family and I will always be grateful for what he has done".

Business Sen. Sasse: U.S. needs more trade, not 'bellicose threatening'
Author: 0 Sen. Sasse: U.S. needs more trade, not 'bellicose threatening'

This afternoon, Trump tweeted in favor of tariffs. In a tweet on Tuesday night, Trump said both the United States and the European Union should drop all tariffs, barriers and subsidies. Soybean prices have plunged 18 percent in the past two months. He added: "I appreciate the fact that they realize the farmers are being hurt by this, but this is not the right remedy".

Business Trump administration plans to help farmers hurt by global trade tensions
Author: 0 Trump administration plans to help farmers hurt by global trade tensions

Amid rising trade tensions, President Donald Trump on Tuesday praised tariffs - calling them the "greatest" - ahead of a meeting with European Union officials in Washington. Trade agreements with those countries have undermined the USA manufacturing base and led to a wave of job losses in recent decades, according to Trump.

Business Tesla Appeals To Suppliers For Refunds To Buffer Cash Position (NASDAQ:TSLA)
Author: 0 Tesla Appeals To Suppliers For Refunds To Buffer Cash Position (NASDAQ:TSLA)

Morningstar's David Whiston writes that while auto makers face "brutal" pricing demands on suppliers for future work "but retroactive rebates is not something we hear much about, and this is troubling for us to hear". "If there are any one-time windfalls that aid in Tesla achieving its profit goals, we expect the market would view that as unsustainable, " said Jamie Albertine, senior automotive analyst for Consumer Edge.

Business Trump heightens tariff threat in trade war with China
Author: 0 Trump heightens tariff threat in trade war with China

OIL: Benchmark US crude added 10 cents to USD68.34 per barrel in electronic trading on the New York Mercantile Exchange. Those and other Trump comments criticising Federal Reserve interest rate hikes caused the dollar to fall back in the USA on Thursday.

Business India withdraws controversial tax on sanitary pads
Author: 0 India withdraws controversial tax on sanitary pads

According to the Indian Express , Piyush Goyal was asked about this: "When asked, Goyal said calculations showed that input tax credit on sanitary napkins was about 3-4 per cent, and the government would ensure a lower price for the end product".

Business Microsoft Report Massive Spike In Profits Due To Azure Cloud
Author: 0 Microsoft Report Massive Spike In Profits Due To Azure Cloud

CEO Satya Nadella told analysts on an earnings call on July 19, "The one thing that I would say that I'm increasingly seeing is Tier 1 workloads". Unfortunately, reporting about Microsoft's cloud growth can be a rather tiresome endeavor, unless you're an Azure customer, company investor , or understand exactly what "Intelligent Cloud" entails.

Author: 0 United States dollar down on as Trump makes fresh threats vs China

President Donald Trump has indicated that he's willing to hit every product imported from China with tariffs , sending USA markets sliding before the opening bell Friday. "We have a long tradition here of conducting policy in a particular way, and that way is independent of all political concerns", he said. The Fed has hiked interest rates twice this year and could jack the rate up twice more before year's end.

Business Elon Musk's social media conduct may be bad for his business
Author: 0 Elon Musk's social media conduct may be bad for his business

Generally confused, some Twitter followers guessed that Musk was dubiously linking Unsworth (who has been mapping the Tham Luang caves for a decade) with Thailand's epidemic of child-sex tourism. That report came after some criticism of the plan from people who argued that the relatively large submarine would not be able to fit around the tight cave network the boys had to navigate.

Business Asia stocks sag on trade war fears, dollar buoyant
Author: 0 Asia stocks sag on trade war fears, dollar buoyant

Riley FBR in NY. That would leave China only $80 billion for further retaliation. "Tonight's announcement appears reckless and is not a targeted approach", said Senate Finance Chairman Orrin Hatch in a statement. But the mood on Wall Street is darkening, with analysts increasingly warning of the potential impact on financial markets as the world's two largest economies square off.

Business China retaliates as trade war starts; what will Trump do next?
Author: 0 China retaliates as trade war starts; what will Trump do next?

Beijing said it was "forced to take necessary countermeasures" after Trump imposed 25% duties on about $34 billion in Chinese machinery, electronics and high-tech equipment including autos , computer hard drives and LEDs. Chinese Commerce Ministry spokesman Gao Feng said that the proposed US tariffs would hit many American and foreign companies operating in China and disrupt their supplies of components and assembly work.

Business Amazon Prime Day 2018: These early deals are available right now
Author: 0 Amazon Prime Day 2018: These early deals are available right now

Singapore Prime members - those signed up to paid subscription service Amazon Prime - will join members from other countries such as Japan, France, Canada and Australia for this event. Whole Foods Market joins the celebration this year with Prime Day deals and offers at all USA stores with an additional 10 percent off hundreds of sale items throughout Whole Foods Market stores, and deep discounts on select popular products.

Business Saudi Arabia not confirming Trump's 2M barrels
Author: 0 Saudi Arabia not confirming Trump's 2M barrels

Saudi Arabia, backed by non-member Russian Federation, had argued strongly in favor of increasing production as grumbles in major consumer countries like the United States, India and China have grown about higher prices. "This will push the system close to the limit", FGE further, emphasized, noting that spare production capacity could fall below 2 million barrels a day - a level previously associated with $100 per barrel prices.

Business Canada hits back at USA with own tariffs
Author: 0 Canada hits back at USA with own tariffs

Justin Trudeau's government will apply a 25 per cent tariff on steel products, and 10 per cent on aluminium and consumer goods. Foreign Affairs Minister Chrystia Freeland will reveal the final list of USA products that will be slapped with retaliatory tariffs starting Canada Day in an announcement later today.

Business Kicked Out Of Toys R Us On Its Last Day?
Author: 0 Kicked Out Of Toys R Us On Its Last Day?

Storch came to the company when it was in the midst of a debt-laden privatization deal in 2005, and left it in 2013, with $1 billion in revenue (pre-tax). After the sad photo of Geoffrey went viral, the San Antonio Zoo set up a GoFundMe page to raise $100,000 with the goal to "persuade the owners at Toys " R " Us to join the effort to save giraffes by donating the use of their most recognizable intellectual property", their beloved mascot.

Business Harley' cross-border ride to escape trade war
Author: 0 Harley' cross-border ride to escape trade war

Harley-Davidson said the EU's tariffs would add, on average, $2,200 (£1,660) to each bike exported to Europe from the United States as the import tax increases from 6% to 31%. Motorcycles were hit with a whopping 31 percent tariff , a penalty that amounted a 25 percent increase in costs. Trump's attack came after the company said in a filing earlier Monday that it would produce motorcycles bound for European countries in overseas factories.

Business Supreme Court ruling says states can now tax online purchases
Author: 0 Supreme Court ruling says states can now tax online purchases

This overturns a decision from 1992 that mandated that states could levy taxes on businesses only if they had a brick-and-mortar presence within that state's borders. In 2015, 72.5 percent of Tennessee's total tax revenues came from sales tax. "It is going to squash the entrepreneurship, I just can not stress that enough", Christy Keyon, who owns Bird and Bean Coffee House and Naomi and Olive Gift shop said.

1 2 3 4 5 6