Economy

by | August 01, 2018 | 06:12

Founder Mark Zuckerberg , who has a 13 per cent stake in Facebook , saw his fortune dropped by more than $US12 billion ($A16 billion) in less than 24 hours, to around $74 billion ($A100 billion). Facebook could potentially lose $151 billion in market capitalization when trading opens on the New York Stock Exchange on Thursday, 26 July. Things could get rougher still.

by | August 01, 2018 | 02:03

The company sold 41.3 million units, below expectations of 41.8 million units. Apple also forecast revenue above expectations for the fall, when it typically launches new iPhone models, reassuring a nervous tech sector that saw sell-offs last week in Facebook Inc, Twitter Inc and Netflix Inc on concerns about their future growth.

by | August 01, 2018 | 00:55

That on its own is enough for customers to flee, but following the news that the company borrowed $5 million to end their recent service outage, it sure looks like MoviePass is on its last legs. MoviePass CEO Mitch Lowe wrote a letter to subscribers last week in which he said, "As we continue to evolve the service, certain movies may not always be available in every theater on our platform".

by | July 31, 2018 | 03:15

The Big Mac turns 50 this year, and McDonald's is celebrating by creating what it calls a "global currency" that will come with, and then later redeem, Big Mac burgers. "When my great-grandfather Jim Delligatti invented the Big Mac at his grill in Uniontown, Pennsylvania, he just wanted to make his local customers happy", said Nick Delligatti, fourth-generation McDonald's owner-operator and great-grandson of Jim Delligatti, the inventor of the Big Mac.

by | July 31, 2018 | 02:40

Those numbers would obviously indicate a remain win, but most polls ahead of the referendum on June 23 2016 also indicated a similar result. She said: "I asked this question and I got a whole load of people thinking I was going to be calling for a second referendum, which I absolutely think would be the worst thing that we could do to ask this question again".

by | July 31, 2018 | 02:34

Laying out a plan it calls "More Roads to Harley-Davidson", the company expects to spend $675 million U.S. to $825 million United States over the next four years, looks to chop costs and generate more than $1 billion USA of incremental annual revenue in 2022.

by | July 29, 2018 | 07:27

He has long complained that the WTO has been unfair to the United States , despite the fact the USA has won most of the disputes against China and others. The willingness of Trump to agree to a trade truce with the European Union is a positive sign that a similar arrangement could be reached during a discussion with (Chinese President) Xi Jinping.

by | July 29, 2018 | 05:13

In other words, fearful that Trump was about to turn the trade war nuclear with auto tariffs (against the advice of his own staff, per WaPo), it sounds like Juncker did some eleventh-hour diplomacy to hold him off. "On and on and on - the deregulation, and now the trade", she said. "We don't have many illusions about public procurement... we need to have tactical objectives" and European Union official said.

by | July 29, 2018 | 05:03

No purchase is necessary and customers may choose their free lipstick color from nine pre-selected shades. The beauty freebie is available at all MAC stores and partner locations, including Saks Fifth Avenue, Nordstrom and Macy's.

by | July 29, 2018 | 04:28

Following the SEC's decision, which sharply drove the price of Bitcoin down from $8,287 to about $7,900, the SEC published Commissioner Hester Peirce's dissent from the SEC's decision. As the pricing model of the proposed ETF would be based on exchange rates, there is inherently a risk of manipulation stemming from trading algorithms and so-called "whales".

by | July 28, 2018 | 14:03

The US and European Union are now working to resolve their differences over steel and aluminium - but the tariffs are still in place. "We also will resolve the steel and aluminum tariff issues, and we will resolve the retaliatory tariffs".

by | July 28, 2018 | 11:43

President Emmerson Mnangagwa is expected to leave Harare for South Africa today to attend the BRICS Summit that started yesterday. Chinese President Xi Jinping called on Brazil, Russia, India, China and South Africa (BRICS) to reject protectionism.

by | July 28, 2018 | 11:33

Economy Minister Peter Altmaier tweeted that the meeting's outcome was a "breakthrough" that "can avoid trade war and save millions of jobs". EU Trade Commissioner Cecilia Malmstrom, who accompanied Juncker, hailed the agreement and said on Twitter that she "will be working hard to take this work forward the coming months".

by | July 28, 2018 | 10:09

On a call with analysts, Facebook advised it expected its revenue growth rates to be lower than the year prior, especially in the second half of this year . As many of you who regularly commute by public transport, or those who watched the World Cup may, have noticed Facebook has been on a push to regain user trust following its privacy scandals .

by | July 28, 2018 | 10:07

For an economy that has suffered from anemic productivity growth for nearly a decade, a significant pop in business investment is not only a welcome sight in terms of boosting growth in the short term but is also just what the doctor ordered to hopefully boost productivity gains and in turn the trend pace of economic growth for years to come.

by | July 27, 2018 | 14:33

Aramco stated that "in the interest of the safety of ships and their crews and to avoid the risk of oil spill, Saudi Aramco has temporarily halted all oil shipments through Bab El-Mandeb with immediate effect". Saudi Arabia accuses Iran of supplying missiles and arms to the Houthis, which both Tehran and the Houthis deny. A flame from a Saudi Aramco oil installation known as "Pump 3" is seen in the desert near the oil-rich area of Khouris, 160 km east of the Saudi capital Riyadh, on June 23, ...

by | July 27, 2018 | 13:57

But stock markets immediately jumped on the news that Trump had chose to step back from his threats. Germany, home to big carmakers such as Volkswagen AG (VOWG_p.DE) and Daimler AG (DAIGn.DE), would be hard hit by auto tariffs, and the automotive industry has warned such measures could hike vehicle costs by $83 billion and result in the loss of hundreds of thousands of jobs.

by | July 27, 2018 | 13:05

ABC quoted a senior security source as saying there was a big difference between providing intelligence and analysis on Iran's facilities versus being a part of a "kinetic" mission. The email address you have provided is already registered. Suleimani asked of the US. You came to Afghanistan with scores of tanks and personnel carriers and hundreds of advanced helicopters and committed crimes there.

by | July 27, 2018 | 11:42

Facebook has also faced public image problems because of the way Russian Federation used the site to try to influence the 2016 US presidential election. The sell-off vaporized about $119 billion in market value - the biggest single-day loss for any public company in history, according to Thomson Reuters .

by | July 26, 2018 | 10:27

At $512 million, the jackpot is the fifth-largest in the game's 16-year history. The lucky victor will receive a prize fund of $522 million (£463.7 million). Mega Millions confirmed in a press release it was the only ticket sold to win the grand prize. It pays to shop in the Hub, with two stores in Boston coming up big during Tuesday's Mega Millions drawing.

by | July 26, 2018 | 10:12

That concept is about making sure that we will be able to continue to do the things that are necessary once we have left the European Union, if we leave without a deal.' United Kingdom boss of Amazon Doug Gurr has raised fears of riots and looting within a fortnight of Brexit day next March if trade is left in limbo and food starts running out.

by | July 26, 2018 | 09:12

Wehner said the "deceleration", as he termed it, is " a combination of factors ", including the rising USA dollar; what Wehner called the company's newfound "focus on growing engaging new experiences like Stories and promoting of those; giving greater controls to users of the service people who use service for privacy".

by | July 26, 2018 | 06:12

The aid package, set to begin in September, is mostly created to help soybean farmers, dairies and pork producers. "This is a short-term solution to allow President Trump time to work on long-term trade deals to benefit agriculture and the entire USA economy", Perdue said in a statement .

by | July 26, 2018 | 05:32

Mr Xi held talks with South African President Cyril Ramaphosa on the eve of the gathering, saying that "the Johannesburg summit has special significance for Brics cooperation in the new circumstances". The BRICS countries comprise more than 40% of the global population but have never worked as a co-ordinated economic bloc. He revealed that the inward quantum investment to South Africa by Brics countries between 2003 and 2017 was a mere $18-billion.

by | July 25, 2018 | 12:17

The Mega Millions jackpot now stands at $433 million. It is also the third jackpot of at least $400 million this year. The next jackpot drawing will be Tuesday, July 24, for an estimated $493 million. Blake won half of the game's $42 million jackpot; the other winning ticket was purchased in Rhode Island. The third-largest prize was $536 million from a ticket in IN on July 8, 2016.

by | July 25, 2018 | 11:13

Operating margin rose to 24 percent from 22 percent last quarter, excluding the $ 5 billion antitrust fine issued last week by the European Commission over Google's anticompetitive licensing of Android software. "I'm confident we find a way to make sure Android is available at scale to users everywhere", Mr. Pichai said during the call with analysts. "While advertising on YouTube is an incredibly strong and growing source of income for creators, we are also investing in new ways for ...

by | July 25, 2018 | 08:41

He said trading partners such as China and the European Union have deliberately targeted the US agricultural industry with retaliatory tariffs because they know it's the heart of Mr. Agriculture Secretary Sonny Perdue unveiled the plan Tuesday, calling it a short-term fix meant to provide "time to work on long-term trade deals".

by | July 25, 2018 | 08:07

Organizers said the $522-million-dollar prize is the fifth largest in Mega Millions history and the eleventh largest in U.S. Lottery history. "I am going to go for it. Without $1 Power Play, the ticket would have been worth $50,000. In that game, three winning tickets were sold in Kansas, Illinois and Maryland. This time around, she hopes she bought the winning ticket.

by | July 25, 2018 | 02:32

Trump repeated his criticism a day earlier of the U.S. Federal Reserve's policy on raising interest rates saying he is concerned the central bank will raise interest rates twice more this year, a White House official told CNBC. The BOJ, in turn, offered to buy an unlimited amount of five- to- 10-year Japanese government bonds on Monday. Daniel Katzive, head of currency strategy in North America at BNP Paribas, said: "If the U.S.

by | July 24, 2018 | 14:44

Alphabet's overall revenues continue to be largely derived from advertising on Google's own properties and its network members' properties, to the tune of $28 billion for the quarter. Those gains came even as Amazon .com Inc. Adjusted earnings , excluding the European Commission fine, were $11.75 per share. Cost increases have come across the enterprise.

by | July 24, 2018 | 13:14

The request, which was sent in the form of a memo to several suppliers, noted that the cash back would be necessary for Tesla's "continued operation", calling it an investment in "long-term growth". Tesla did not respond to a series of emails and phone calls seeking comment. All told, there is a chance Tesla might report a profitable quarter when the company posts its Q3 earnings report on August 1.

by | July 23, 2018 | 11:49

Among the Crimson Hexagon's clients is a Russian nonprofit with ties to the Kremlin, according to the Wall Street Journal , which first reported news of Facebook's decision. Facebook allows outside firms to use "anonymized insights for business purposes", but not for surveillance. On Friday, however, Bingham said his company is fully cooperating with Facebook and "working together to resolve the issue as quickly as possible".

by | July 23, 2018 | 11:43

That meeting did not materialize. A US delegation was expected to retrieve the remains in North Korea and fly them out on July 27, either to Osan Air Base in South Korea or Hawaii, the official said, adding that the date may change as the two sides planned to iron out final details during another meeting in the near future.

by | July 23, 2018 | 07:05

In a taped interview with the business channel CNBC, Trump warned, "I'm willing to go to 500", meaning he's prepared ultimately to impose tariffs on $500 billion in Chinese imports - roughly the value of all the goods Beijing shipped to the United States previous year.

by | July 23, 2018 | 06:49

It was meant to unify India's economy into a single market, with four tax rates of 5, 12, 18 and 28 percent. Every state wanted that the rates on these items be lowered for the benefit of middle-income households... This would be a major relief to the small traders across the country. They will have to, however, pay taxes monthly. Presently, registered persons with aggregate turnover up to Rs.