Business


Trump Asks For $200 Billion More In Tariffs To Impose On China
- June 20, 2018

The escalating tit-for-tat trade tensions between the world's two biggest economies comes after Trump, last Friday, put tariffs on $ 50 billion worth of Chinese goods, warning that if China retaliated, so would the U.S. Treasury Secretary Lawrence Summers said in an interview on Bloomberg Television. This possible trade war now is threading to create more pressure on the Chinese economy. (more...)
Cryptocurrencies Fall as Korean Exchange Says $32 Million of Coins Stolen Cryptocurrencies Fall as Korean Exchange Says $32 Million of Coins Stolen
- June 20, 2018

Major cryptocurrencies such as Bitcoin , Ethereum, Ripple, and Bitcoin Cash, which successfully picked up some momentum throughout June 17 to 19, ended their corrective rallies and have fallen by around 1 percent over the past few hours. In this case, Bithumb is big enough to cover the losses, but it isn't always that way and securely holding tokens avoids potential for trouble. The Bithumb theft again highlighted the security risks and the weak regulation of global cryptocurrency markets. (more...)
Australia's Telstra to slash 8,000 jobs in cost-cutting drive
- June 20, 2018

Telstra plans a further A$1bn of cost cuts, bringing the total to $2.5bn by 2022. "In the future our workforce will be smaller, knowledge-based one with a structure and way of working that is agile enough to deal with rapid change", Mr Penn said. (more...)
Rs 12 lakh worth of notes destroyed by rats Rs 12 lakh worth of notes destroyed by rats
- June 20, 2018

To their astonishment, repairmen entered the cubicle only to find the piles of shredded heaps of Rs 500 and Rs 1000 notes last week. The shocking stash was discovered by technicians who had been asked by the bank to fix the ATM on June 11. (more...)
Microsoft urges Trump administration to change its policy separating families at border Microsoft urges Trump administration to change its policy separating families at border
- June 20, 2018

Without clarifying the exact details of the work Microsoft is doing for ICE, and what manner of computation the company's Azure cloud computing platform is providing for the government agency, Microsoft did clarify that it was not working "on any projects related to separating children from their families at the border", and that it was "not aware of Azure or Azure services being used for this objective". (more...)
Germany: Interior minister gives Merkel ultimatum on migrants Germany: Interior minister gives Merkel ultimatum on migrants
- June 20, 2018

Italy and France have also become involved in the migrant debate , with Italy's interior minister Matteo Salvini, who is the deputy Prime Minister of the country, refusing to accept new refugee boats and calling for asylum seekers to be equally distributed across the European Union , rather than being hosted by the first country they land in. (more...)
Trump's latest swipe at Canada? Smuggling US shoes
- June 20, 2018

Trump claimed that because of Canada's high tariffs, Canadians were coming into the USA and "smuggling things back" to avoid the duties. Trump reminded them of his campaign promise to renegotiate NAFTA or terminate it, noting that he was willing to negotiate trade deals with Canada and Mexico separately. (more...)
Disney will reportedly increase its offer for Fox after Comcast bid
- June 20, 2018

Disney committed to funding Sky News to the tune of at least £100m a year, for the next 15 years, as well as agreeing to protect its operating costs in real terms. The takeover has been held up by a series of regulatory investigations, first by Ofcom, the telecoms and media regulator, and then by the Competition & Markets Authority. (more...)
Paper straw factory to open in Britain as restaurants ditch plastic Paper straw factory to open in Britain as restaurants ditch plastic
- June 20, 2018

Plastic straws have come under fire from environmental activists due to their single-use nature and the fact that they don't easily biodegrade. "In addition to testing alternative materials, in several markets including Malaysia, we will begin tests to offer straws upon request only", the company said in a statement. (more...)
China warns of retaliation after Trump’s threats of fresh tariffs China warns of retaliation after Trump’s threats of fresh tariffs
- June 19, 2018

The US president said in a White House statement on Monday evening that he had instructed the US Trade Representative's office to identify $200 billion in imports from the Asian nation for additional tariffs of 10 percent. USA stocks may be getting slammed by the latest trade tensions, but equities in China are faring far worse. It also said it was scrapping deals made with Washington to narrow China's politically volatile trade surplus with the United States by purchasing more ... (more...)
Dunkin' Donuts sign asks customers to report employees who don't speak English Dunkin' Donuts sign asks customers to report employees who don't speak English
- June 19, 2018

Gillian Morley, a news producer at WBAL-TV in Baltimore, an NBC News affiliate, was among the first to spot the sign and tweeted a photo of it. A Dunkin' Donuts store in Baltimore is under fire after it offered customers a reward for reporting employees who weren't speaking in English . (more...)
Tesla employee sabotaged the company, Musk tells staff Tesla employee sabotaged the company, Musk tells staff
- June 19, 2018

Tesla is conducting an in-depth investigation into the matter, including whether the worker was acting alone, with others at the company, or with any outside organizations, Musk wrote. Last week, Musk announced that he was reorganizing the company and shrinking Tesla's workforce by 9 percent in a bid for profitability. Then there are the oil & gas companies, the wealthiest industry in the world - they don't love the idea of Tesla advancing the progress of solar power & electric cars. (more...)
Trump doubles down on trade war with China by announcing new tariffs Trump doubles down on trade war with China by announcing new tariffs
- June 19, 2018

The official Xinhua news agency said China would impose 25 percent tariffs on 659 U.S. products, ranging from soybeans and autos to seafood. President Trump late on Monday threatened to impose a 10 percent tariff on $200 billion of Chinese goods, escalating a tit-for-tat trade war with Beijing. (more...)
Amazon launches Prime in Australia
- June 19, 2018

Other perks included with Amazon Prime in Australia includes access to Twitch Prime which includes "a selection of free games every month to keep forever, access to free in-game loot, and a premium experience on Twitch". Prime launched on Tuesday and costs $6.99 for a monthly subscription or $59 a year. Prime members will enjoy free expedited delivery with no minimum purchase . (more...)
Trump Moves to Retaliate Against China's Retaliation for New Tariffs
- June 19, 2018

It was retaliation, Trump said, for China's decision to raise tariffs on $50 billion in US goods, which came after Trump announced similar tariffs on Chinese goods on Friday. "We do our best to call out unfair economic behaviours as well". Washington and Beijing appeared increasingly headed toward open trade conflict after negotiations failed to resolve USA complaints over Chinese industrial policies, lack of market access in China and a $375 billion US trade deficit. (more...)
Chanda Kochhar to go on leave, ICICI appoints Sandeep Bakhshi as COO Chanda Kochhar to go on leave, ICICI appoints Sandeep Bakhshi as COO
- June 19, 2018

Mr. Bakshi, who started his career in 1986, has been replaced by the bank's executive director N.S. Kannan at ICICI Prudential Life Insurance. All Executive Directors on the Board of ICICI Bank and the executive management will report to him. (more...)
Trump wrongly blames migrants for German crime 'rise' Trump wrongly blames migrants for German crime 'rise'
- June 19, 2018

Seehofer heads the Bavaria-only Christian Social Union, the sister party to Merkel's Christian Democratic Union. The challenge represents one of the biggest rebukes to Merkel's leadership since she first took power 13 years ago, and suggests that the anti-migrant sentiment seen in Italy and Hungary is spreading across the EU. (more...)
Trump escalates China trade spat with extra tariffs threat Trump escalates China trade spat with extra tariffs threat
- June 19, 2018

Trump said if China increases its tariffs again in response to the latest USA move, "we will meet that action by pursuing additional tariffs on another $200 billion of goods". "Rather than altering those practices, it is now threatening United States companies, workers, and farmers who have done nothing wrong", he said. The US announced plans for tariffs this spring, after an investigation into China's intellectual property practices. (more...)
Tesla Model 3 production has been sabotaged, according to CNC ars_ab.settitle(1333565) Tesla Model 3 production has been sabotaged, according to CNC ars_ab.settitle(1333565)
- June 19, 2018

However, Tesla's stock price has rallied almost 17 percent since the company's June annual shareholder meeting where Musk promised profitability in the third quarter. This isn't the first time Musk has made a bold prediction about his company's stock-he predicted the "short burn of the century" last month before purchasing about 72,000 Tesla shares for himself-but it is the first time he's given a timeline. (more...)
Trump’s consumer watchdog pick draws criticism from left and right Trump’s consumer watchdog pick draws criticism from left and right
- June 19, 2018

Kraninger, current associate director at OMB, has previously worked for the Department of Homeland Security and the Senate Appropriations Committee, Bloomberg said. Other conservatives argued that Mulvaney had a strong track record of picking good managers, and said he would not have backed her if he doubted her capability. (more...)
Google invests $550m in JD.com Google invests $550m in JD.com
- June 18, 2018

Google is also thought to benefit from JD.com's initiatives into voice-powered shopping. The goal here is to merge JD.com's experience and technology in supply chain and logistics - in China, it has opened warehouses that use robots rather than workers - with Google's customer reach, data and marketing to produce new kinds of online retail. (more...)
CYBG and Virgin Money confirm £1.7bn takeover deal
- June 18, 2018

A man checks his phone as he walks past a branch of Virgin Money in Manchester, Britain. CYBG Chairman Jim Pettigrew, Chief Executive Officer David Duffy and CFO Ian Smith will retain their current positions in the new group, according to the statement. (more...)
Audi CEO arrested in diesel emissions probe Audi CEO arrested in diesel emissions probe
- June 18, 2018

It named Stadler among the suspects accused of fraud and false advertising. Prosecutors pushed for Stadler's arrest over fears that he might try to evade justice, dpa reported . Even if he wasn't directly involved in the diesel-engine manipulation, there has been an obvious lack of oversight at Audi that stretched over years, Pieper said . (more...)
Audi boss Rupert Stadler arrested in dieselgate investigation
- June 18, 2018

The chief executive of German carmaker Audi, Rupert Stadler , has been arrested in connection with an investigation into the diesel emissions scandal. "The suspect has been seen by a judge, who has ordered him to be remanded in custody", the prosecutors' office said in a statement. The vehicle manufacturer pleaded guilty to criminal charges in the United States and nine managers, including former CEO Martin Winterkorn, were charged. (more...)
Japan suspends sale of Canadian wheat after GMO grain found in Alberta Japan suspends sale of Canadian wheat after GMO grain found in Alberta
- June 18, 2018

The plant, from unidentified origin, was initially found on a frontage road within Alberta previous year, shortly after it made it through spraying of the location using weed killer, the Canadian Food Inspection Agency (CFIA) pointed out Thursday. (more...)
Tesco posts strong growth after Booker completion Tesco posts strong growth after Booker completion
- June 18, 2018

Tesco said that like-for-like sales in its Irish operations grew by 3% despite all of its stores here closing for a day due to Storm Emma in early March. Tesco now dominates Britain's supermarket sector by a clear margin, with a 27.7% market share, according to industry data. Analysts point out that earnings scenarios in Tesco's latest management long term incentive plan (LTIP) to 2021 are much higher than consensus expectations. (more...)
McDonald’s switching to paper straws in U.K., Ireland McDonald’s switching to paper straws in U.K., Ireland
- June 18, 2018

McDonald's says it will start using paper straws instead of plastic at all its locations across the United Kingdom and Ireland. McDonald's is to replace plastic drinking straws with paper in all of its United Kingdom and Ireland (Other OTC: IRLD - news ) branches. (more...)
Musk's company to build airport express system for Chicago Musk's company to build airport express system for Chicago
- June 17, 2018

Ciccarone believes the project's benefits may be worth the risk especially since the city's balance sheet isn't in jeopardy and it can't afford traditional financing methods due to the burden of other funding demands, and existing debt and pension obligations that have dragged its ratings down to a low of junk. (more...)
Canada Goose (GOOS) Downgraded to Hold at Zacks Investment Research Canada Goose (GOOS) Downgraded to Hold at Zacks Investment Research
- June 17, 2018

Canada Goose Holdings Inc. Canada Goose Holdings Inc . designs, makes, and sells premium outdoor apparel for men, women, youth, children, and babies in Canada, the United States, and internationally.The firm is valued at $4.92 billion. The company has a current ratio of 2.22, a quick ratio of 1.24 and a debt-to-equity ratio of 0.56. "Despite its 60-year history, we see Canada Goose as in the early stages of its growth trajectory, particularly in the fragmented and growing premium ... (more...)
McDonald's to ban plastic straws from EVERY restaurant across Sheffield McDonald's to ban plastic straws from EVERY restaurant across Sheffield
- June 17, 2018

The fast food giants have been testing paper straws since April at a selected number of outlets, and the move comes as companies come under increasing demand to reduce the amount of single-use plastic they use on a daily basis. A straw, which is used for only 20 minutes on average, can take more than 200 years to break down into smaller pieces and often does not fully disintegrate. (more...)

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