Business


USA jobs growth stronger than expected
- July 08, 2018

On the same day that the Trump administration began imposing tariffs on $34 billion in Chinese imports and Beijing hit back with tariffs on the same amount of USA goods, the job gain showed that the 9-year old US economic expansion - the second-longest on record - remains on firm footing. (more...)
Starbucks back in hot water, ‘disrespects’ stutterer Starbucks back in hot water, ‘disrespects’ stutterer
- July 08, 2018

The Facebook post, which was shared by Tan Lekwijit on July 1, includes a picture of a Starbucks cup with the name "SSSam" typed on it. Lekwijit also explained the incident in the caption, writing, "My friend Sam , who is a stutterer, stuttered on his name when ordering a coffee at Starbucks ". (more...)
Facebook CEO Mark Zuckerberg overtakes Warren Buffett as world's third richest person Facebook CEO Mark Zuckerberg overtakes Warren Buffett as world's third richest person
- July 07, 2018

Zuckerberg becoming the 3rd richest in the world right now means that, for the first time , the 3 richest people alive are all tech titans. Zuckerberg's net worth passed Buffett's on Friday after Facebook shares went up 2 .4%. Technology fortunes make up about a fifth of the more than $5 trillion (about Rs. 344 lakh crores) in wealth tracked by the Bloomberg index, more than any other sector. (more...)
Wireless Speaker Maker Sonos Files for IPO Wireless Speaker Maker Sonos Files for IPO
- July 07, 2018

For example, Sonos One and Sonos Beam feature voice-control enablement powered by Amazon's Alexa technology while Amazon now competes by offering speaker products of their own. The company set a placeholder amount of US$100 million to indicate the size of the IPO. The company will be listed on Nasdaq with the ticker symbol "SONO". (more...)
Trump slams OPEC on Twitter over gas prices Trump slams OPEC on Twitter over gas prices
- July 07, 2018

Some members should remember that the United States is defending them for little reciprocal benefits, he added. This must be a two way street. After it had actually taken its decision last month to raise its output by 1m barrel a day effectively from the beginning of this month after conflict between its members who reached more than 100% compliance of the cut deal between OPEC and non-OPEC countries on drop of the production from Venezuela . (more...)
U.S. businesses, farmers decry tariff bullies in Washington U.S. businesses, farmers decry tariff bullies in Washington
- July 07, 2018

President Donald Trump argues that new tariffs on Chinese goods are created to protect USA businesses and force China to change its economic policy. Some analysts such as Singapore-based DBS say the United States economy could suffer more than China's, as U.S. levies could affect American firms with investments in the country and Washington is also involved in other trade conflicts. (more...)
China blocks Micron sales amid US trade tensions, chip battle China blocks Micron sales amid US trade tensions, chip battle
- July 07, 2018

UMC shares got a boost from the Chinese court ruling soon after the market opened, and while their momentum was compromised to some extent by the lingering trade friction between the United States and China, the stock still stayed in positive territory. (more...)
Shots fired: U.S.-China trade war begins Shots fired: U.S.-China trade war begins
- July 07, 2018

China retaliated immediately with tariffs on American goods of the same value. Economists have warned escalating trade frictions could throttle global growth and strike at the heart of the world trading system, causing shockwaves across the planet. (more...)
Retaliatory Measures Against US Tariffs Already In Effect, Says China Retaliatory Measures Against US Tariffs Already In Effect, Says China
- July 07, 2018

The dollar fell Friday as markets weighed a stronger-than-expected jobs market with an escalating trade battle between the U.S. and China. "In effect, the Trump administration is behaving like a gang of hoodlums with its shakedown of other countries, particularly China", the state-run China Daily newspaper said in an English language editorial on Friday. (more...)
June jobs report due out Friday June jobs report due out Friday
- July 06, 2018

Wages were being carefully watched by economists for signs of inflationary pressures building in the economy, with average hourly earnings forecast to have risen 0.3% over last month in June and 2.8% over the same month past year. The latest jobs figures arrived less than a week before the Bank of Canada's next interest-rate decision. With 93 straight months of job growth - a historical record - many employers have said they're feeling pressure to raise wages. (more...)
Trade war erupts as China fights back against United States tariffs Trade war erupts as China fights back against United States tariffs
- July 06, 2018

The rapid tit-for-tat follows weeks of anxious anticipation over the " trade remedies " President Trump vowed last month to implement. The Trump administration accuses China of building its emerging industrial dominance by "stealing the crown jewels" of American technological know-how through cyber-theft, forced transfers of intellectual property, state-sponsored corporate acquisitions and other underhand practices. (more...)
Barton 1792 whiskey warehouse collapses Barton 1792 whiskey warehouse collapses
- July 06, 2018

Milt Spalding with Nelson County Emergency Management and Dispatch told WAVE the call reporting the collapse came it at 2:20 p.m., and Bardstown firefighters arrived at the scene at 2:25 p.m. The warehouse was constructed in the 1940s, and Sazerac indicates it will likely be several weeks before the cause of the collapse is determined. Now, the company is looking to build a new warehouse with hopes of salvaging the barrels that are still intact. (more...)
Boeing, Embraer deal creates $4.75 billion aircraft venture Boeing, Embraer deal creates $4.75 billion aircraft venture
- July 06, 2018

The Boeing-Embraer alliance, following on the heels of the Airbus-Bombardier tie-up announced past year, represents the biggest realignment in the global aerospace market in decades, strengthening established Western planemakers against newcomers from China, Russia and Japan, analysts say. (more...)
Trump discusses trade, border security with Mexican president-elect Trump discusses trade, border security with Mexican president-elect
- July 06, 2018

It's Canada Day, a day of parties and celebrations of all things Canadian, but this year, the festivities may be eclipsed by concerns over the escalating trade war with the United States. Newly elected Mexico's President Andres Manuel Lopez Obrador, running for "Juntos haremos historia" party, cheers his supporters at the Zocalo Square after winning general elections, in Mexico City, on July 1, 2018. (more...)
WRAPUP 4-China's yuan gains on PBOC's calming words, stock markets unconvinced WRAPUP 4-China's yuan gains on PBOC's calming words, stock markets unconvinced
- July 05, 2018

The yuan's 3 percent decline against the dollar over the past two weeks is largely seen as reflecting fears over a possible trade war between the world's two biggest economies. Also on Monday, Washington moved to block China Mobile from offering services to the USA telecommunications market, recommending its application be rejected because the government-owned firm posed national security risks. (more...)
Donald Trump: OPEC is Donald Trump: OPEC is "doing little to help" with gas prices
- July 05, 2018

Brent crude futures were changing hands at $78.04 per barrel, up 28 cents, or 0.4 per cent, from their last close. On July 4 (which, as a reminder, is the anniversary of that time 563 years ago when Trump's ancestors liberated Manhattan from a cabal of nefarious Chinese overlords who were conspiring with European monarchs to unfairly tax Ford F-150 exports), the President did what every other president before him has done on Independence Day: He sent a 280-character, all-caps letter to ... (more...)
Is Donald Trump on a relentless quest to corner Iran? Is Donald Trump on a relentless quest to corner Iran?
- July 05, 2018

A senior State Department official said that Washington is stepping up pressure on all countries, including India and China, to completely stop buying oil from Iran by November 4 with no exceptions. Morgan Stanley now expects shipments to drop by 1.1 million bpd by the end of the year after previous forecasts saw the Iranian sanctions wiping out 700,000 bpd through 2019. (more...)
Cabinet approves Rs 200 per quintal hike in MSP for paddy Cabinet approves Rs 200 per quintal hike in MSP for paddy
- July 05, 2018

Briefing about the CCEA decision, Home Minister Rajnath Singh said the Cabinet has approved the MSP of 14 kharif (summer-sown) crops for the 2018-19 season. The MSP for bajra, or pearl millet, was hiked to Rs1,950, which is a raise of 97% over input costs of about Rs990. "What's the use of a hike when we did not even get last year's MSP?" asked Purshotam Sontakke from a village in Wardha district in the western state of Maharashtra , who sold soybean at 2,700 rupees per 100 kg in ... (more...)
Coinbase’s New Custody Service Opens Its Doors Coinbase’s New Custody Service Opens Its Doors
- July 05, 2018

This challenge is where and how does such an institution - such as a hedge fund - store its millions of dollars worth of cryptocurrencies without fear of the funds being hacked and stolen as is the case with the numerous exchanges that have fallen victim to cyber crooks. (more...)
Trump administration says China Mobile should not access US market Trump administration says China Mobile should not access US market
- July 05, 2018

Giving China Mobile access to the USA telecommunications market could lead to a spike in Chinese spying, it said . The U.S. will impose tariffs on goods from China worth more than $34 billion starting July 6, and Beijing likely will respond with its own tariffs on U.S. (more...)
Miki Sudo downs 37 dogs to win fifth women's title Miki Sudo downs 37 dogs to win fifth women's title
- July 05, 2018

NEW YORK - For the fifth year in a row, Las Vegas super eater Miki Sudo took top prize at the Nathan's Famous July Fourth hot dog eating contest, downing 37 franks and buns in 10 minutes amid stifling humidity at the annual seaside competition. (more...)
From Whiskey To Lobsters, States Brace For Retaliatory Tariffs From Whiskey To Lobsters, States Brace For Retaliatory Tariffs
- July 05, 2018

ENERGY: Oil futures recovered from the previous day's downtick, after Trump claimed that Saudi Arabia could produce up to double of the 1 million barrels-a-day increase agreed by OPEC countries. And he is pressuring Canada and Mexico to agree to rewrite the North American Free Trade Agreement to shift more auto production to the United States and encourage companies to move investment from Mexico to the United States. (more...)
China's HNA boss Wang Jian's death in France likely an accident China's HNA boss Wang Jian's death in France likely an accident
- July 05, 2018

One of HNA's dollar bonds due in 2018 fell 1.5 cents on the dollar, the biggest drop since December 12, as of 4:59 p.m.in Hong Kong, according to Bloomberg prices. Mr Wang, who had a net worth of US$1.7 billion (£1.3 billion) according to Forbes, was one of the key players in HNA's aggressive expansion from a regional company to the massive conglomerate it is today. (more...)
Hyundai fun day: rumors swirl of hostile FCA takeover bid Hyundai fun day: rumors swirl of hostile FCA takeover bid
- July 04, 2018

With Marchionne gone, there will be a vacuum at the top of FCA. Hyundai's manufacturing footprint in the U.S.is also relatively small, unlike GM or VW, and would be exponentially improved if a merger between Hyundai and FCA happened. Marchionne has expressed his desire for FCA to merge with another automaker. He was allegedly in talkes with General Motors, but did not exclude other partners. (more...)
ZTE allowed to resume business as USA temporarily lifts ban ZTE allowed to resume business as USA temporarily lifts ban
- July 04, 2018

ZTE, the fourth-largest smartphone maker in the US , has been dealing with a US Commerce Department denial order that prevents American businesses from selling hardware or services to the company. His move to do this has sparked heavy backlash from lawmakers on both sides of the aisle. ZTE, he said, "buys a big percentage of individual parts from US companies". (more...)
Theresa May's Brexit dilemma continues Theresa May's Brexit dilemma continues
- July 04, 2018

Speculation has been mounting that the prime minister will set out plans for a soft Brexit in order to overcome the problems at the Irish border and ports across the United Kingdom if there were customs or regulatory barriers to trade. Rees-Mogg's intervention prompted a furious backlash from Remain-voting Tories. May will bring together her Cabinet at her country residence to thrash out details of a white paper setting out the UK's plans for areas such as trade. (more...)
China presses Europe for anti-Trump alliance on trade China presses Europe for anti-Trump alliance on trade
- July 04, 2018

Trump personally ordered the bill be drafted, according to the report. Titled the " United States Fair and Reciprocal Tariff Act "-or, as many media outlets have been calling it, the less flattering "FART Act"-the legislation was first leaked to Axios on Sunday evening". (more...)
Netflix is testing a new 'Ultra' tier of service Netflix is testing a new 'Ultra' tier of service
- July 04, 2018

Premium is now its most expensive subscription option. According to Italian blog Tutto Android , Netflix is plotting the rollout of a new "Ultra" tier that would be priced at €16.99, which comes out to around $20 per month. What would convince you to pay €19.99 for Netflix? The change may come as a surprise as Netflix states on its website that all four screen Netflix plans support HDR (Dolby Vision and UltraHD Premium). (more...)
Saudi Arabia boosts oil supply close to record high in June Saudi Arabia boosts oil supply close to record high in June
- July 04, 2018

In a statement Saturday, Saudi Arabia said that King Salman had spoken to Trump and that the leaders discussed the need to address any potential shortages in the supply of oil as well as maintain stability in the oil markets . officials are pressing allies in Europe, Asia and the Middle East to adhere to the sanctions, which are aimed at pressuring Iran to negotiate a follow-up agreement to halt its nuclear programs. (more...)
Spying concerns halt another Chinese company's USA expansion
- July 04, 2018

Some seven years after the company asked the Federal Communications Commission (FCC) for a license to carry voice traffic in and out of the US -something that would require connecting USA telecoms networks to China Mobile's network-the White House effectively closed off the possibility with a negative recommendation. (more...)

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