Business


Yen Broadly Higher on BOJ Outlook Yen Broadly Higher on BOJ Outlook
- July 26, 2018

The central bank has been gradually reducing its bond buying since September 2016, when it set a policy target of zero percent in the 10-year JGB yield, relegating its quantitative bond buying target to a secondary role. A series of recent media reports suggest that the gathering could deliver anything from allowing for a more natural rise in long-term interest rates to no change and a mere assurance that policymakers are considering the side effects. (more...)
Did We Just Dodge a Trade War With Europe? - Hit & Run Did We Just Dodge a Trade War With Europe? - Hit & Run
- July 26, 2018

US import tariffs of 25 percent on steel and 10 percent on aluminum imposed in March will stay in place during the talks and Trump said Europe had agreed to raise purchases of liquefied natural gas and lower trade barriers to American soybeans. (more...)
Insider says Apple’s most exciting new iPhone of 2018 may be delayed Insider says Apple’s most exciting new iPhone of 2018 may be delayed
- July 26, 2018

But unless one of these companies is able to make a faster mobile modem than Qualcomm, iPhone users lose the most. Davis didn't mention Intel by name, but Intel is the only other supplier of that component for Apple's smartphones. While there is a lot of data to sift through, one of the more interesting nuggets of information is that Qualcomm may not be supplying Apple with modems for its next iPhone. (more...)
Rouhani rejects Trump's Rouhani rejects Trump's "empty threats"
- July 26, 2018

Iranian Foreign Ministry spokesman Bahram Qassemi, responding to Trump's post on July 24, said there would be "a reaction and equal countermeasures from Iran " if the United States attempted to block Tehran from exporting oil . But the Iranian leader also did not mention his previous threats to start an oil export blockade on the Gulf in response to United States efforts to revive sanctions against Iran. (more...)
USA farmers: We need markets not cash handouts USA farmers: We need markets not cash handouts
- July 26, 2018

Schweitzer said European companies also faced other non-tariff barriers to doing business in the United States, for instance in winning government contracts, or due to the different regulations in various USA states. We must hold bad actors, such as China, responsible while not alienating our allies. President Donald Trump on Wednesday lashed out at China over the latest escalation in the trade spat between the world's two largest economies. (more...)
Asus, Denon, Philips and Pioneer to pay millions for price fixing Asus, Denon, Philips and Pioneer to pay millions for price fixing
- July 26, 2018

If online sellers attempted to offer anything but the MSRP, the companies would threaten the retailer with sanctions. The European Commission was recently in the news for imposing a huge €4.3bn anti-trust fine on Google, which made quite an impact on the firm's latest quarterly results . (more...)
Facebook stock tumbles as user, revenue growth lag Facebook stock tumbles as user, revenue growth lag
- July 26, 2018

Facebook's operating margin fell to 44 per cent in the second quarter from 47 per cent a year ago. The company beat the profit forecast, with $1.74 per-share earnings. Facebook generated $13.2 billion in revenue, shy of Wall Street's expected $13.4 billion. According to the research firm, Facebook-owned Instagram is making up for some of the slowdown in growth at social network and will generate $8.06 billion in worldwide ad revenue this year. (more...)
Former Fiat Chrysler CEO Marchionne dies
- July 26, 2018

During his 14 years at the helm, Sergio Marchionne is credited with revamping the Fiat company and bringing it back from the brink of bankruptcy. The New York Times reports that Marchionne was recovering from shoulder surgery but has become "gravely ill", and FCA reports that his condition worsened significantly on July 21. (more...)
Trump announces an agreement with European Union on tariffs Trump announces an agreement with European Union on tariffs
- July 26, 2018

The administration announced a $12 billion bailout plan Tuesday for farmers hurt by "unjustified retaliatory tariffs" in President Trump's trade wars, while some GOP lawmakers and farmers recoiled at the government aid and urged the president to seek a negotiated peace with US trading partners. (more...)
Someone's just won $522,000,000 on the U.S. Mega Millions lottery Someone's just won $522,000,000 on the U.S. Mega Millions lottery
- July 25, 2018

The Mega Million jackpot won Tuesday night had been accumulating since it was last won in May in Ohio. Here are the winning numbers: 1,2,4,19,29 Mega Ball 20. Before the drawing, Southern Californians lined up at "lucky" retailers across the region. The odds of matching five numbers from among 70 and an additional number from 1 to 25 in a separate pool is more than 1 in 300 million. (more...)
Former FCA CEO Sergio Marchionne dies aged 66
- July 25, 2018

Marchionne was recovering from surgery and that these have worsened significantly in recent hours. The family's heir and company chairman Elkann, hired Marchionne at a time when Fiat had faced several years of significant losses. Under the best of circumstances, Marchionne's pending departure presented Fiat Chrysler with a major void to fill. As Fiat Chrysler heads into what most industry executives and analysts predict will be a hard 2019, the automaker's Italian brands have lost a ... (more...)
Fiat Boss Sergio Marchionne dies aged 66
- July 25, 2018

Sergio Marchionne , the man who transformed Fiat Chrysler , has died. Marchionne fell gravely ill after suffering complications following recent surgery in a Zurich hospital. Marchionne also revealed earlier this year a new five-year plan for the automaker that calls for several new models and a major push into self-driving and electrification technologies. (more...)
U.S. 'ready' to make new Iran deal amid heated exchange
- July 25, 2018

Iranian officials have said the United States measures equal an "economic war" on Iran . To demonstrate his earlier remark that this isn't even the way to deal with hostile coworkers, the Late Show host read a note to the hypothetical yogurt-stealer in the style of Trump's tweet . (more...)
Ryanair will cancel up to 600 flights next week Ryanair will cancel up to 600 flights next week
- July 25, 2018

Ryanair said it would cancel 24 flights July 20 as pilots in Ireland go ahead with a second one-day strike over an ongoing conflict with management about working conditions. But it failed to reach agreement on the terms of reference for such a group, it said. Ryanair, which flies in 37 countries and carried 130 million passengers past year, has so far signed agreements with pilots in Italy and Britain, two of its largest markets, but also experienced minor disruption in Germany and Portugal. (more...)
Trump prepares $12 BILLION bailout fund for farmers hurt by tariffs Trump prepares $12 BILLION bailout fund for farmers hurt by tariffs
- July 25, 2018

The Washington Post earlier reported that the White House was readying $ 12 billion in assistance, citing two people familiar with the plan. President Donald Trump tweeted Tuesday morning that " tariffs are the greatest " as the United States prepares to impose a variety of tariffs on numerous countries. (more...)
Trump Tweets: ‘Tariffs Are the Greatest’
- July 25, 2018

Under the terms of the Commodity Credit Corporation , the aid package does not require congressional approval. The Agriculture Department said the proposal would include direct assistance for farmers, purchases of excess crops and trade promotion activities aimed at building new export markets. (more...)
US announces billions to help farmers hurt by Trump tariffs US announces billions to help farmers hurt by Trump tariffs
- July 25, 2018

The official announcement will come Tuesday afternoon from the U.S. Department of Agriculture, the official said. The assistance will go into effect in September, months after President Donald Trump ordered Agriculture Secretary Sonny Perdue to prepare some options, the Washington Post reported. (more...)
PEACE IN KOREA: Satellite Images Show KIM 'DISMANTLING' Nuclear Launch Site PEACE IN KOREA: Satellite Images Show KIM 'DISMANTLING' Nuclear Launch Site
- July 25, 2018

During a landmark meeting between President Donald Trump and Kim Jong-un in Singapore last month, the two leaders signed a deal to work towards the "complete denuclearisation of the Korean Peninsula". As North Korea disarms, in keeping with such deals, there are growing calls for sanctions relief, though the USA is so far resistant. It said they should "implement effective due diligence policies, procedures, and internal controls to ensure compliance with applicable legal requirements ... (more...)
Ritz Crackers Are Being Recalled Over Possible Salmonella Risk Ritz Crackers Are Being Recalled Over Possible Salmonella Risk
- July 24, 2018

Neither company has said if these recalls are connected, but for now, it may be time to pivot to another summer snack. Mondelez Global LLC has voluntarily begun recalling some Ritz Cracker sandwiches and Ritz Bits products over concern that they may include an ingredient tainted with Salmonella . (more...)
USA farmers hurt by Trump's tariffs to receive emergency aid
- July 24, 2018

The plan is expected to go into effect by Labor Day according to the Post . What's the background on the tariffs? President Trump indicated that countries are finally coming to the negotiating table over trade tariffs. USDA will provide direct payments to producers of soybeans, sorghum, corn, wheat, cotton, dairy and hogs to help them cover their losses and find new markets for their goods. (more...)
Trump plans to give billions in aid to farmers hurt by tariffs
- July 24, 2018

It's as simple as that - and everybody's talking! The same day that President Donald Trump gushed on Twitter that "tariffs are great", his administration disclosed plans to pay billions in aid to U.S. As just one example of how farmers are impacted, China used to import $1 billion worth of American-grown sorghum annually, which made up 77 percent of all US sorghum exports. (more...)
Mega Millions Jackpot Is Over $500 Million Mega Millions Jackpot Is Over $500 Million
- July 24, 2018

The $512 million jackpot would dish out $303.4 million if the victor took the cash option. There is a Mega Millions drawing every Tuesday and Friday. Mega Millions is played in 44 states , plus the District of Columbia and the Virgin Islands. What can you do with more than $512 million ? The jackpot has a cash option of $308 million, which is obviously still not a bad chunk of change. (more...)
President Trump planning emergency aid to farmers affected by tariffs President Trump planning emergency aid to farmers affected by tariffs
- July 24, 2018

The White House has searched for months for a way to provide emergency assistance to farmers without backing down on Trump's trade agenda, and the new program will extend roughly $12 billion through three different mechanisms run by the Department of Agrigulture. (more...)
Iran's Foreign Minister responds to Trump's all-caps Twitter threat Iran's Foreign Minister responds to Trump's all-caps Twitter threat
- July 24, 2018

President Rouhani warned the U.S. not "play with the lions tail " as tensions simmered - sparking a furious reaction from Trump. Both the tweet and the speech landed less than two weeks before the administration will begin re-imposing sanctions on Iran that had been lifted under the 2015 nuclear deal. (more...)
Shares surge at Google's Alphabet as it crushes forecasts Shares surge at Google's Alphabet as it crushes forecasts
- July 24, 2018

During the three month period, Alphabet recorded total revenues of $32.7 billion. Brussels accused Google of using the Android system's near-stranglehold on smartphones and tablets to promote the use of its own Google search engine and shut out rivals. (more...)
Goldfish crackers recalled in Canada due to salmonella contamination Goldfish crackers recalled in Canada due to salmonella contamination
- July 24, 2018

On Saturday, Mondelez International said it was recalling 16 varieties of Ritz crackers, including Ritz Bits Cheese, Ritz Cheese Cracker Sandwiches and Ritz Bacon Cracker Sandwiches with Cheese, because of a potential salmonella risk. Pepperidge Farm created a chart with the affected products' universal product codes and sell by dates to help consumers determine whether they have the potentially contaminated crackers. (more...)
Japan urges caution over Trump's complaint on strong dollar Japan urges caution over Trump's complaint on strong dollar
- July 24, 2018

Previous threats drew a more pronounced response, albeit that Trump's latest threat was just that, and not an official announcement. Trump is not trying to influence currency markets, Treasury Secretary Steven Mnuchin has said, reiterating that a strong U.S. (more...)
USA stocks dip as Trump talks of more tariffs on China USA stocks dip as Trump talks of more tariffs on China
- July 24, 2018

The Shanghai Composite Index edged 0.1 percent lower to 2,769.06. The blue-chip CSI300 index sank 0.4%, or 13.56 points, to 3,414.78. The president's remarks indicate his willingness to escalate America's trade war with China , dashing hopes the two sides would arrive at a compromise before more tariffs were imposed. (more...)
Papa John's anxious Papa John will try to take over company Papa John's anxious Papa John will try to take over company
- July 24, 2018

Schnatter stepped down as chairman of the board earlier this month amid accusations that he used a racist epithet and graphic descriptions of the mistreatment of African Americans during a meeting with a media agency. Papa John's said Schnatter and his affiliates, who now own more than 30 percent of shares, have been grandfathered into the plan. The rights would not apply to the person or group that triggers them with a takeover attempt. (more...)
New York’s Daily News to shed half of its newsroom staff New York’s Daily News to shed half of its newsroom staff
- July 24, 2018

Among the people leaving the paper, include Editor-in-Chief Jim Rich and Managing Editor Kristen Lee . Tronc , the paper's Chicago-based parent, named Robert York , the editor of the Allentown Morning Call , to the top job effective July 30. (more...)

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