Business


Embattled Trump warns impeachment would 'crash' economy
- August 25, 2018

Cohen admitted to violating federal campaign finance laws by arranging hush money payments to adult film star Stormy Daniels and former Playboy model Karen McDougal "at the direction" of Trump. If Mr Trump were to be prosecuted over the money - not through the normal courts, because he is the sitting president, but conceivably in Congress, through an impeachment process - investigators would have to prove that he had indeed given the money to Cohen for electoral reasons. (more...)
USA stocks closed mixed amid data, earnings USA stocks closed mixed amid data, earnings
- August 25, 2018

Animal Planet owner Discovery Inc jumped 4.58 percent , the most on the S&P, after brokerage Jefferies upgraded its rating on the stock. Wall Street ended mixed today, with the Nasdaq gaining on the strength of tech stocks. Tame valuations, little competition and earnings growth that looked spectacular but rarely got above the historical trend - these were the forces that sent the S&P 500 up 320 percent over 3,453 days, Bloomberg explained . (more...)
Fed will do 'whatever it takes' for U.S. economy: Chairman Powell
- August 25, 2018

In his speech , Powell simply made the case that gradual rate hikes are the best way to protect the US economic recovery and keep job growth as strong as possible and inflation under control. There is scant evidence that the Fed's removal of stimulus is hurting growth. "He did, however, emphasise that if the economic outlook changed markedly, the Fed is ready to change direction too, saying he is "confident" the FOMC would do "whatever it takes" should crisis again threaten". (more...)
US and Mexico Postpone NAFTA Talks Until Aug. 22 US and Mexico Postpone NAFTA Talks Until Aug. 22
- August 25, 2018

President Donald Trump's complaint that NAFTA has hollowed out U.S. manufacturing to Mexico's benefit", writes Reuters . Some observers believe Ottawa has been sidelined from the NAFTA negotiations by the Trump administration and could find itself forced into deciding whether to accept a less-appetizing deal hashed out between the US and Mexico. (more...)
Credit Suisse commented on reports about the freezing of Russian assets Credit Suisse commented on reports about the freezing of Russian assets
- August 25, 2018

According to Reuters , because of the neutral status of Switzerland sanctions against Russian Federation do not apply, however, due to the fact that banks in this country are very dependent on the us dollar, they should follow the policy of the United States. (more...)
Sears latest closing leaves one store left in Rochester area Sears latest closing leaves one store left in Rochester area
- August 24, 2018

The closures are expected to be complete by November. Sears initially announced that it would close 100 unprofitable stores in January, and this list has increased through the year. As of May 5, it had about 894 stores, down from about 1,000 at the end of past year. Between Sears and Kmart stores, the company has closed more than 400 locations during the last couple of years; 529 Sears and 365 Kmart locations remain. (more...)
Brexit exports take centre stage in new gov't strategy Brexit exports take centre stage in new gov't strategy
- August 24, 2018

Liam Fox, International Trade Secretary, is the kid who, when you go round and ask everyone what their desired superpower would be, would have said "EXPORTING!" The British government will form a new export strategy on Tuesday (21) meant to boost country's exports to 35 percent of gross domestic product (GDP), as it aims to improve trade ties with the rest of the world after Brexit . (more...)
Donald Trump says United States economy would ‘crash’ if he was impeached Donald Trump says United States economy would ‘crash’ if he was impeached
- August 24, 2018

In entering the plea, Cohen did not name the two women or even Trump, recounting instead that he worked with an "unnamed candidate" to influence the election. "The election was what made her story valuable". According to Davis, Cohen feels motivated in part because of Trump's controversial news conference with Russian President Vladimir Putin earlier this summer in Helsinki, Finland, during which Trump appeared to side with Putin over the US intelligence community on Russian interference ... (more...)
Gold Falls As Rate Hike Views Steady Dollar Gold Falls As Rate Hike Views Steady Dollar
- August 23, 2018

USA central bankers discussed raising interest rates soon to counter excessive economic strength but also examined how global trade disputes could batter businesses and households, minutes of the Federal Reserve's last policy meeting showed on Wednesday. (more...)
US, China raise tariffs in new round of trade dispute US, China raise tariffs in new round of trade dispute
- August 23, 2018

It came as the world's two largest economies were holding their first formal discussion since June on the spiralling and multifaceted trade war . President Donald Trump has pushed aggressive trade actions to lower the United States trade deficit that he equates with stealing from Americans. (more...)
US, China trade talks to resume amid low expectations US, China trade talks to resume amid low expectations
- August 23, 2018

Starting today, a nine-member delegation from Beijing , led by Vice Commerce Minister Wang Shouwen, will hold meetings with USA officials to discuss trade. Though it is too early for trade damage to show up in much economic data as yet, tariffs are beginning to increase costs for consumers and businesses on both sides of the Pacific, forcing companies to adjust their supply chains and pricing, with some US companies looking to decrease their reliance on China. (more...)
U.S. crude posts 7th straight weekly loss U.S. crude posts 7th straight weekly loss
- August 23, 2018

Reports of faster supply increases from major global producers are also putting downward pressure on the market after the Organization of the Petroleum Exporting Countries (OPEC) and other oil producers led by Russian Federation agreed in June to ease production curbs to make up for lost supplies out of Libya, Venezuela and Iran . (more...)
Google Pixel 3 XL offered up for sale on Russian black market Google Pixel 3 XL offered up for sale on Russian black market
- August 23, 2018

Aesthetically, the sides and rear of the handset appear to be near-identical to the second iteration of the device - the Pixel 2 and Pixel 2 XL - with a fingerprint scanner embedded in the aluminum majority of the body while the single camera, flash, and sensors are found in the smaller, glass section at the top. (more...)
US Punishes Russian Firms For Violated N. Korea Sanctions US Punishes Russian Firms For Violated N. Korea Sanctions
- August 23, 2018

His remarks came after senior US Treasury official Sigal Mandelker said Tuesday that Washington can inflict "much more economic pain... and will not hesitate to do so" if Moscow does not cease what she called "malign activity". Security Council resolutions. Without further action, Hunt said, NATO's "credibility" will be undermined. According to Mitchell, foreign direct investment in Russian Federation has fallen by 80 percent since 2013, " which is a pretty stunning number ". (more...)
Jacob Zuma influence-peddling inquiry opens; judge seeks more witnesses Jacob Zuma influence-peddling inquiry opens; judge seeks more witnesses
- August 23, 2018

The former South African president also faces more than 780 allegations of corruption relating to a 1990s arms deal. The inquiry will over the next few weeks see witnesses such as Mentor and Jonas appearing as witnesses. Former Finance Minister Pravin Gordhan estimates that almost $7bn (£5.5bn) of public funds were looted through corrupt practices. It does not have the power to arrest or prosecute, however, any evidence it collects can be used in any future prosecution case . (more...)
Brexit talks 'continuous', say negotiators as they vow to ramp up talks Brexit talks 'continuous', say negotiators as they vow to ramp up talks
- August 22, 2018

Mr Barnier said he had no intention of shifting the EU's position in the negotiations, though Brexit-supporting politicians has claimed his repeated refusals of Theresa May's proposals are pushing the United Kingdom towards a crash-out. The Brexit talks have become stuck on key issues, including how to avoid a hard border between European Union member Ireland and the British province of Northern Ireland, and on the future trading relationship. (more...)
ConocoPhillips signs $2-billion settlement with Venezuela’s PDVSA ConocoPhillips signs $2-billion settlement with Venezuela’s PDVSA
- August 22, 2018

Pdvsa has hitherto backtracked on more than $2 billion in bonds succeeding infirmity to fabricate interest remittance over the previous year and is indebted billions of dollars more to service companies. "ConocoPhillips has ensured that the settlement meets all appropriate US regulatory requirements, including any applicable sanctions imposed by the USA against Venezuela". (more...)
Oil prices fall amid fears over slowing global economic growth Oil prices fall amid fears over slowing global economic growth
- August 22, 2018

West Texas Intermediate (WTI) crude futures rose 18 cents to $65.64. Brent was still heading for a 1% decline for the week, a third consecutive weekly drop. Elsewhere, Libya's crude oil recovery has seen output rise above 1 million b/d for the first time since early June, sources close to production said. (more...)
S&P 500 hits record high on way to longest market rally S&P 500 hits record high on way to longest market rally
- August 22, 2018

Shares in much of the region were also aided by hopes that the trade talks between the U.S. and China expected this week will ease trade tensions. There were no major reports on the economic calendar Tuesday. There were 9 new highs and no new lows, with total volume of 212.9 million shares. "There's a bit of a risk premium now being built into Australia", said Hugh Dive, chief investment officer at Atlas Funds Management in Sydney. (more...)
Fed criticism drives dollar to eight-week low against yen Fed criticism drives dollar to eight-week low against yen
- August 22, 2018

Recent presidents have largely avoided criticising the Fed , trying to preserve the bank's independence and its credibility with financial markets, foreign governments and the public. So, going down we can expect further impact on the prices of gold with the dollar gaining strength and demand taking a hit. Powell has described the economy as "strong" numerous times this summer, but he also sees this as an opportune time to lift interest rates back to normal levels after years at historic ... (more...)
Cohen willing to tell Mueller about 'conspiracy to collude': lawyer Cohen willing to tell Mueller about 'conspiracy to collude': lawyer
- August 22, 2018

Cohen said he worked " at the direction of a candidate for federal office ", ostensibly Trump , for the objective of influencing the election. That candidate was Trump. In late July, CNN obtained a recording that Cohen made of Trump discussing with him buying the rights to McDougal's story about having an alleged affair with Trump years earlier, one way in which these kinds of scandals are kept quiet. (more...)
USA warns of more sanctions coming against Russian Federation
- August 22, 2018

You will continue without a doubt to see more from this administration", Sigal Mandelker, US Treasury Under Secretary for Terrorism and Financial Intelligence told a Senate hearing when asked if more sanctions were forthcoming. The Treasury also explained that the buyer was North Korea's Taesong Bank, . which has already been slapped with sanctions by Washington for engaging in illicit economic activities for the regime. (more...)
Trump vows 'no concessions' with Turkey over United States pastor Trump vows 'no concessions' with Turkey over United States pastor
- August 22, 2018

He had thought Turkey would then release pastor Andrew Brunson, who has been charged in Turkey for aiding terror groups. 'I think it's very sad what Turkey is doing. "I got that person out for him", Mr Trump said. "I expect him to let this very innocent and wonderful man and great father and great Christian out of Turkey", Trump said. (more...)
Trump (Again) Expresses His Displeasure with Federal Reserve Raising Interest Rates Trump (Again) Expresses His Displeasure with Federal Reserve Raising Interest Rates
- August 22, 2018

A day later, Dallas Fed President Robert Kaplan, who tends to align his views with those of Powell, released an essay that signaled he views another three or four rate hikes as "the best chance" for delivering continued economic growth, given the strength of the economy. (more...)
UNIAN: Trump names conditions for Russian Federation sanctions lift UNIAN: Trump names conditions for Russian Federation sanctions lift
- August 22, 2018

Members of Congress, where both chambers are controlled by Trump's fellow Republicans, have called for more action, including introducing new sanctions legislation "from hell", to punish Russian Federation for its annexation of Crimea, involvement in Syria's civil war and cyber attacks seeking to influence US elections. (more...)
Rapper Post Malone's jet headed for emergency landing in W. Mass Rapper Post Malone's jet headed for emergency landing in W. Mass
- August 21, 2018

The plane has been circling over CT before what authorities say will be an attempt to make an emergency landing at Westfield-Barnes Regional Airport in Westfield, Massachusetts. Air traffic control officials decided the plane needed to burn more fuel before landing and directed it to fly to MA. According to TMZ, American musician Post Malone is onboard the plane. (more...)
The rand climbs as dollar hit by Trump Fed comments
- August 21, 2018

But during this period of time I should be given some help by the Fed. "I'm not thrilled", Trump said in an interview with Reuters . Presidents normally avoid commenting on monetary policy out of respect for the Fed's independence, according to the publication. (more...)
Runaway Goats May Have Caused the First Cute Subway Delay Ever Runaway Goats May Have Caused the First Cute Subway Delay Ever
- August 21, 2018

The MTA said the goats were okay, scampering about a part of the N line around Fort Hamilton Parkway that's been under construction all summer. "We're told they were munching grass", said Jon Weinstein, a spokesman for the MTA. The sight of Stewart and another woman herding Billy and Willy (as they were christened, at least online) into a trailer for a ride to a good home was definitely today's moment of zen. (more...)
China using Iranian ships to avoid oil sanctions China using Iranian ships to avoid oil sanctions
- August 20, 2018

But the threat of USA sanctions has prompted many major companies to pull out of Iran. A new round of sanctions on Iranian oil sales is scheduled to kick in later this year. The oil giant's withdrawal comes after President Donald Trump announced the USA was pulling out of the 2015 Iran nuclear deal and reimposing sanctions on the Islamic republic. (more...)
How Contact Lenses Are Contributing To Microplastic Pollution
- August 20, 2018

The survey conducted by the team included 400 contact lens wearers, and they discovered that between 15 and 20 per cent have flushed their contact lenses down a toilet or a sink in the past. "This is a pretty large number, considering roughly 45 million people in the USA alone wear contact lenses, amounting to 1.8-3.36 billion lenses flushed per year, or about 20-23 metric tons of wastewater-borne plastics annually". (more...)

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