Business


Huawei shows impressive sales, surpasses Apple in Q2 Huawei shows impressive sales, surpasses Apple in Q2
- August 05, 2018

The Chinese giant shipped more than 95 million phones in the first six months, up about 30 per cent from previous year. Also, the good demand for P20 flagship product too has contributed to Huawei's success as the company has shipped over 7 million units worldwide. (more...)
Record Iranian oil imports for India in July Record Iranian oil imports for India in July
- August 05, 2018

Their arrival means state carrier Iran Air has received 13 of the 20 it ordered from the French-Italian manufacturer in April 2017. The Iranian rial has dropped to a record low amid growing concerns about renewed USA sanctions, which kick in on Monday. (more...)
Food delivery service Foodora to exit Australia Food delivery service Foodora to exit Australia
- August 05, 2018

After that and until August 20 , there will be a wind down of services with fewer shifts available. The Fair Work Ombudsman has also launched legal action in the Federal Court that relates to two bicycle delivery riders who delivered food and drinks to customers in Melbourne and a delivery driver who delivered food and drinks by vehicle to customers in Sydney. (more...)
Fiats US complaint poses roadblock to import of Mahindras Jeep knock-off Fiats US complaint poses roadblock to import of Mahindras Jeep knock-off
- August 05, 2018

On August 1, 2018, FCA is said to have filed a complaint at the US International Trade Commission, seeking to prevent Mahindra & Mahindra from importing the Roxor. The steel-bodied Roxor also gets four-wheel drive as standard. In its filing, FCA cited the Indian company's "substantial foreign manufacturing capacity combined with its demonstrated intention to penetrate the United States market and harm FCA's goodwill and business", according to Automotive News . (more...)
Hundreds Ill From Parasite In McD Salads — CDC Report Hundreds Ill From Parasite In McD Salads — CDC Report
- August 05, 2018

Symptoms of Cyclospora infection can include diarrhea, explosive bowel movements, loss of appetite, weight loss, stomach cramps, bloating, increase gas, nausea and fatigue. The FDA says there are now 109 additional cases - bringing the total number to 395. McDonald's said in July it had removed the mix from impacted restaurants. (more...)
Tesla, Inc. (NASDAQ:TSLA) Tesla, Inc. (NASDAQ:TSLA)
- August 05, 2018

Summit Trail Advisors LLC grew its stake in Tesla by 74,343.1% in the 1st quarter. Year to Date (YTD) performance of Tesla, Inc . Investigating the productivity proportions of business stock, the speculator will discover its ROE, ROA, ROI remaining at -50.6 percent, -8.5 percent and -6.5 percent, individually. (more...)
Billionaire tycoon Philip Day mulls rescue bid for House of Fraser Billionaire tycoon Philip Day mulls rescue bid for House of Fraser
- August 04, 2018

A legal challenge contesting the process has been made by landlords. House of Fraser is battling for survival after Wednesday's decision by the Chinese owner of Hamleys, C.banner, to pull out of a plan to invest £70m in the ailing retailer and buy a majority stake. (more...)
Conor McGregor returning to the UFC in October for lightweight title bout Conor McGregor returning to the UFC in October for lightweight title bout
- August 04, 2018

McGregor was last seen inside the Octagon back in November 2016. In a video interview this week, the San Jose-based Nurmagomedov touted his belt and his dominance in pushing the UFC to properly pay him in accordance with McGregor, the organization's leading draw. (more...)
China appeals for United States calm after new tariff threat China appeals for United States calm after new tariff threat
- August 04, 2018

At a news briefing, Foreign Ministry spokesman Geng Shuang accused the USA of engaging in "blackmail", according to Reuters . The proposed higher tariff "is meant to provide the administration with additional options to encourage China to change its harmful policies and behavior and adopt policies that will lead to fairer markets", Lighthizer said Wednesday. (more...)
BusinessWeek Had The Best Joke About Apple Becoming A Trillion Dollar Company BusinessWeek Had The Best Joke About Apple Becoming A Trillion Dollar Company
- August 03, 2018

Shares have since nosed down, to $206.26 per share, as of 12:05 p.m. ET. After Apple ( AAPL ) became the first American company to hit $1 trillion in market value , Cook sent a letter to his 123,000 employees. The current price of a share in the company is about $207 dollars. The iPhone maker's market capitalisation reached the figure in afternoon trading in NY as its shares rose above $207. (more...)
Gatineau's Hydropothecary teams up with Molson Coors Gatineau's Hydropothecary teams up with Molson Coors
- August 03, 2018

In a statement, Molson Coors President and CEO Frederic Landtmeters said the companies will aim to be a "market leader in offering Canadian consumers new experiences with quality, reliable and consistent non-alcoholic, cannabis-infused beverages". (more...)
Apple becomes first trillion dollar U.S. company
- August 03, 2018

A day after posting strong results for the third quarter of fiscal 2018, Apple has become the world's first publicly traded company with a market capitalization of over $1 trillion. Apple said it expects revenue of $60 billion to $62 billion for the fiscal fourth quarter that ends in September 30. Although the iPhone X launched with weaker-than-expected sales numbers, Apple has turned things around as of late. (more...)
USA considering higher tariffs on US$ 200 bil. of Chinese goods USA considering higher tariffs on US$ 200 bil. of Chinese goods
- August 03, 2018

Last month, the USA proposed 10 percent tariffs on another $200 billion in Chinese products, a response to China's retaliation. The Chinese Ministry of Commerce said that it would impose the tariffs if the Trump administration goes through with its announcement that it would raise an additional series of tariffs on $200 billion of Chinese goods from 10 percent to 25 percent, The Washington Post reported . (more...)
Japan July manufacturing activity, new orders slow: PMI Japan July manufacturing activity, new orders slow: PMI
- August 03, 2018

Malaysian manufacturing conditions showed broad stabilisation during July, primarily driven by output rising for the first time in five months. The Manufacturing Purchasing Managers' Index (PMI) in the month of July stood at 56.8 index points, indicating expansion in the manufacturing sector for the sixteenth consecutive month, 0.2 index points slower than that of the previous month, Naija247news has learned. (more...)
Apple beats Microsoft, Google and Amazon to $1 trillion valuation Apple beats Microsoft, Google and Amazon to $1 trillion valuation
- August 03, 2018

So who's going to pay for it? While Apple is the only public company in the world right now to be valued at $1 trillion, it is not the first to reach there. The company's fortunes were turbocharged by the launch of personal gadgets such as the iPod in 2001 and the iPhone in 2007. The only way Apple could possibly recover, the reporter concluded, was to create some "insanely great" products, a reference to the well-known Steve Jobs catchphrase. (more...)
Turkey vows retaliation against USA sanctions Turkey vows retaliation against USA sanctions
- August 03, 2018

The cost of insuring Turkey's debt against default spiked to the highest in more than six years, while the BIST 100 share index tumbled more than 2.5 percent, with banking stocks among the decliners. Financial markets were likely to take their cues from the tone of Turkey's response, analysts said. His appeal to be released during his trial was rejected by court on July 31. (more...)
Bank of Japan tweaks monetary policy, lowers inflation forecast Bank of Japan tweaks monetary policy, lowers inflation forecast
- August 03, 2018

The Australian dollar declined 0.15 percent to $0.7393, trimming some of its gains after rising roughly 0.4 percent on Friday against a broadly sagging dollar. In reaction to Kuroda's announcement, the yield on the benchmark 10-year JGB retraced a part of its initial fall but as of 0822 BST was again trading five basis points lower at 0.06%, just above the intra-session low of 0.05% it had plumbed just after the BoJ announced its policy decision. (more...)
Fed keeps interest rates unchanged, says United States economy 'strong'
- August 03, 2018

Economic activity has been "rising at a strong rate", and the unemployment rate "has stayed low", the Federal Open Market Committee said Wednesday in a statement released in Washington . The US central bank, headed by Jerome... The economy is riding a tailwind from tax cuts and higher federal spending, though a trade war threatens to dent growth. (more...)
Google Mum on Chinese Search Engine Reports Google Mum on Chinese Search Engine Reports
- August 03, 2018

Facebook's website is also banned in China but the company has also signalled its interest to enter the market. A Google representative told Business Insider, "We don't comment on speculation about future plans". This would mark the company's return to both the country and the government's stringent censorship. According to a report in The Intercept , Google is going to formally re-enter the Chinese search market. (more...)
The Total Cost of Trump's New Tariffs The Total Cost of Trump's New Tariffs
- August 03, 2018

We do know that USDA plans to do three things: try to find new export markets for U.S. agriculture products that are subject to increased tariffs (in retaliation for U.S. "If we don't, it's going to really hurt agriculture and the family farm". From the National Association of Farm Broadcasting News Service . I am confident that once the people of Argentina get a taste of American pork products, they will only want more . (more...)
Apple just became the first $1 trillion public company Apple just became the first $1 trillion public company
- August 03, 2018

One of five US companies since the 1980s to take a turn as Wall Street's largest company by market capitalisation, Apple could lose its lead to the likes of Alphabet Inc ( GOOGL .O) or Amazon .com Inc ( AMZN .O) if it does not find a major new product or service as global demand for smartphones loses steam. (more...)
USA crude inventories rise unexpectedly as exports drop USA crude inventories rise unexpectedly as exports drop
- August 02, 2018

West Texas Intermediate , the USA benchmark for the price of oil , was down 1.37 percent to $69.17 per barrel. October Brent crude futures, the most actively traded contract, settled at $75.55 a barrel, up 79 cents. The U.S. and Iran have lately engaged in a war of words, with Iranian officials threatening to snarl oil exports in the world's busiest region for crude shipments. (more...)
McDonald's Apologizes to Woman For Serving Her Cleaning Solution Instead of Coffee McDonald's Apologizes to Woman For Serving Her Cleaning Solution Instead of Coffee
- August 02, 2018

She immediately returned to the store and informed management about the problem and soon learned that the machine that made her drink had still been hooked up to cleaning equipment. He further added that the restaurant staff has taken immediate action to review and correct its cleaning procedures and added new signage as a reminder to avoid similar future possibilities, said the report . (more...)
Chipotle slumps after illness complaints linked to OH outlet Chipotle slumps after illness complaints linked to OH outlet
- August 02, 2018

A total of 228 reports have been made to the website iwaspoisoned.com suggesting that 418 customers have fallen sick after eating at a Powell, Ohio , Chipotle since Friday , according to Patrick Quade, the website's founder. Lettuce was not being cooled properly and the beans weren't warm enough. On Tuesday, shares of the company were down more than 7 percent. Although there is now no indication that the outbreak has affected consumers in other states, Chipotle's stock fell almost 4 ... (more...)
Welp. MoviePass stock just fell back below $1 Welp. MoviePass stock just fell back below $1
- August 02, 2018

Unlike passive investors, who invest in a stock when they believe in its potential for long-term appreciation, active investors will typically look at the price movements of their stocks many times a day. But MoviePass noted that it'll allow major studios to partner with the company to make those blockbuster films available on a "promotional basis". (more...)
Tax 'holiday' teed up for back-to-school shoppers Tax 'holiday' teed up for back-to-school shoppers
- August 02, 2018

Missouri's sales tax holiday weekend is just days away. Arkansas' tax-free weekend will begin at 12:01 a.m. on Saturday, Aug. 4 and end at 11:59 p.m. Gordon Gough, president of the state Council of Retail Merchants, says consumers will get the "lion's share of benefits". Looking to start your back-to-school shopping? Ohioans will be getting a short break when it comes to paying taxes on certain items. (more...)
Loans to get costlier as RBI hikes repo rate again Loans to get costlier as RBI hikes repo rate again
- August 02, 2018

If rates do go up to 0.75% that will be highest since early 2009. Carney unlikely to offer GBP anything meaningful. There is some volatility in global financial markets. Brexit the bigger driver for GBP in the near-term. "The good news, of course, the rest of our membership, we have a million now, is the saving side because they have really suffered for ten years now". (more...)
Apple Becomes The First Publicly-Listed Company Worth $1 Trillion Apple Becomes The First Publicly-Listed Company Worth $1 Trillion
- August 02, 2018

The company on Tuesday reported second-quarter earnings that topped Wall Street expectations , sending shares surging by more than 5% into Wednesday. We'll be monitoring Apple's stock price closely to see if it's able to really become the first trillion-dollar company. Its stock surged to its biggest gain in a year and a half today, soaring above the $207.04 value required for Apple to become a trillion dollar firm. (more...)
China says it's ready to retaliate on latest United States tariff threat
- August 02, 2018

Senior officials in US President Donald Trump's administration said on Wednesday that proposed tariff rates on $200 billion (€172 billion) worth of Chinese goods would be raised from 10 percent to 25 percent , in an effort to "encourage" China to change its trade policies. (more...)
Fed keeps interest rates steady, stresses "strong economy and job market"
- August 02, 2018

And, he said, "Given the Fed's evaluation of current and future growth, rate hikes are likely in September, December and possibly as many as four more next year, unless the economy decelerates sharply". The Fed's decision left the central bank's key short-term rate at 1.75 per cent to 2 per cent - the level hit in June when the Fed boosted the rate for a second time this year. (more...)

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