Economy

by | August 11, 2018 | 03:12

The President said he had authorised higher tariffs on imports from Turkey, imposing duties of 20 percent on aluminium and 50 percent on steel . On Monday, the Turkish lira suffered its most significant drop in a decade following reports the Trump administration was considering ending Turkey's duty-free access to the USA market.

by | August 11, 2018 | 01:42

But on Friday, there was another distinct element that made things worse: a tweet from President Trump . Turkish President Recep Tayyip Erdoğan struck a defiant note in a series of Twitter messages shortly before Trump's announcement.

by | August 10, 2018 | 11:01

Newly announced USA sanctions-and the potential for a second round of actions in 90 days-roiled Russia's currency and blue-chip stocks as the country braced for further economic pain amid uncertainties over the Trump administration's commitment to enforcement.

by | August 09, 2018 | 11:23

China's goods trade went up 8.6 percent year on year to 16.72 trillion yuan (about 2.45 trillion US dollars) in the first seven months of this year, customs data showed Wednesday. USTR is conducting a public comment period for those tariffs, which could reach 25 percent, due to end September 5. Beijing has retaliated with its own duties on $34bn of USA goods.

by | August 09, 2018 | 11:11

If passed , the legation would make New York City the first major American city to set a limit on ride-hailing vehicles. The legislation before the Council calls for a 12-month moratorium on most new for-hire vehicle licenses to give the city time to study how the rapid expansion of ride-hailing services affects the city's traffic, and how the council can ensure drivers of hired cars and yellow cabs earn a living wage.

by | August 09, 2018 | 09:07

Tesla CEO Elon Musk met with SoftBank CEO Masayoshi Son about taking the electric-car maker private a year ago, Bloomberg reports . A lot of questions remain unanswered but, if Tesla goes through with the plan, it would reportedly be the largest leveraged buyout in history.

by | August 08, 2018 | 03:56

Despite its challenges, Tesla has remained a favorite among many investors, partly due to their faith in Musk, who made his initial fortune as a co-founder of PayPal and also is the CEO of a trail-blazing aerospace company, SpaceX , that's already private.

by | August 08, 2018 | 03:08

Barley Days Brew, which is set to host Ford for the buck-a-beer announcement, says it's discount lager is "not going to compromise" on quality. In 2008 the previous government chose to ban Buck-a-Beer by setting a higher minimum price and today the retail price floor sits at $1.25.

by | August 08, 2018 | 00:51

The reimposed sanctions target Iran's US dollar purchases, metals trading, coal, industrial software and its auto sector. Meanwhile, heatwave across Europe and other areas pushes oil up. Saudi Arabia's crude production dropped about 200,000 bpd last month, two sources at the Organization of the Petroleum Exporting Countries said on Friday, despite a pledge by the Saudis and top producer Russian Federation to raise output from July, with Saudi Arabia promising a "measurable" supply boost.

by | August 08, 2018 | 00:35

On April 1 this year, Musk tweeted , "We are sad to report that Tesla has gone completely and totally bankrupt ". Musk has lashed out at critics and investors who have shorted the stock, going so far as to call one prominent critic's employer to silence him, and refusing to take a hard question from a financial analyst in the company's June shareholder meeting.

by | August 07, 2018 | 01:37

Facebook is now discussing partnership ideas with firms like Citigroup Inc., Wells Fargo , and JPMorgan Chase , but the Cambridge Analytica incident has reportedly caused at least "one large USA bank" to pull out of the talks. The information would be used to offer new services to Facebook account holders. Facebook acknowledged last month that it was facing multiple inquiries from United States and British regulators about a scandal involving the now bankrupt British consultancy ...

by | August 07, 2018 | 00:41

Sunday after police said they saw his 2017 Lexus roll through a stop sign near the Sag Harbor waterfront. France appeared to be operating his vehicle while intoxicated and officers found oxycodone pills after searching him, police said. The legal limit in NY is.08. Mr. France was charged with aggravated driving while intoxicated and criminal possession of a controlled substance in the seventh degree, both misdemeanors.

by | August 07, 2018 | 00:43

Starting this week, Washington will reimpose sanctions on Iran's purchases of US dollars, its trade in gold and precious metals, and its dealings with metals, coal and industrial-related software. banknotes and key industries including cars and carpets. Trump pulled the United States out of the deal in May, saying Iran was not living up to the spirit of the accord and vowed to reimpose sanctions.

by | August 06, 2018 | 02:54

President Donald Trump is arguing that Republicans need to control Congress by casting the midterms as a referendum on himself. He is there to drum up support for Republican state senator Troy Balderson, who is running against Democrat Danny O'Connor in a Tuesday special election in the state's 12th Congressional District.

by | August 06, 2018 | 02:33

At least 16 people have been hospitalized. It can take people up to a week after ingesting the contaminated food to start feeling symptoms, and many cyclospora infections take weeks to manifest. In a statement , Fresh Express says it issued a "precautionary recall" on July 27. The FDA is reviewing supplier information for romaine lettuce and carrots.

by | August 06, 2018 | 02:23

US officials said Wednesday that Trump had asked the US Trade Representative to consider increasing the proposed tariffs on 200 billion worth of Chinese goods to 25 per cent from the planned 10 per cent. August 3: China announced plans to slap a 25 percent tariff on $60 billion worth of U.S goods. In addition to Beijing's top-down control, the recent diversification of China's economy and its exports makes the country better positioned to endure a trade war now than it could have in ...

by | August 06, 2018 | 02:14

At 1010 GMT, the October ICE Brent crude futures contract was down 10 cents from Thursday's settle at $73.45/b, while the NYMEX WTI September contract edged down 3 cents to $68.93/b. Trump has turned up pressure on China for trade concessions by proposing a higher 25 percent tariff on $200 billion of Chinese imports. Novak said that higher production was due to the need to maintain the market's stability.

by | August 06, 2018 | 02:04

President Donald Trump's administration imposed tariffs of 25 per cent on steel and 10 per cent on aluminum in June, predicated on national security considerations; Prime Minister Justin Trudeau's government retaliated dollar-for-dollar on July 1.

by | August 05, 2018 | 15:47

Apple has officially reached the $1 trillion market capitalization , and while CEO Tim Cook hasn't commented on this historic milestone publicly, he did send an email to employees to thank them. Apple's 12-month gain is far better than the S&P 500's 14 percent increase over the past year, but it pales beside Amazon's astounding 85 percent surge, propelled by the online retailer's and cloud computing heavyweight's scorchingly fast revenue and profit growth.

by | August 05, 2018 | 12:56

Their arrival means Iran Air has received 13 of the 20 passenger planes it ordered from the French-Italian manufacturer in April 2017. The US is due to impose a series of new sanctions on Iran in the next few months. Iran is also said to have started to offer India cargo insurance and tankers operated by Iranian companies as some Indian insurers have refused to cover oil cargoes from Iran in the face of the returning USA sanctions on Tehran .

by | August 05, 2018 | 08:28

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. McGregor has been absent from the sport for two years. If there was any doubt that he would return to the UFC , that doubt is now gone. The announcement comes after McGregor resolved his legal troubles, stemming from an incident in which the fighter whipped a hand truck at a bus carrying UFC ...

by | August 05, 2018 | 07:23

Summer temperatures close to 40C (104F) are not unusual in southern parts of the Iberian peninsula. Gunhild Rosqvist, a Stockholm University professor in geography, said the glacier lost four meters (13 feet, 2 ½ inches) of snow in July alone as Sweden endured record temperatures that triggered dozens of wildfires, even in the Arctic Circle.

by | August 04, 2018 | 10:14

Beijing responded by imposing similar charges on the same amount of US products. 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.

by | August 04, 2018 | 09:36

Cavusgolu and Pompeo met on the sidelines of a meeting of regional ministers in Singapore. Their talks came after Washington imposed sanctions on two of Turkish President Tayyip Erdogan's ministers over the trial of a USA pastor accused of backing terrorism.

by | August 04, 2018 | 05:49

Molson Coors Canada will have a 57.7% stake in the new company and Hydropothecary will hold the balance. Molson Coors will control 57.5% of the now unnamed venture, the company said in a news release. "There is a paradigm shift underway and cannabis has the potential to provide answers to the alcoholic drinks industry's existential questions", said Spiros Malandrakis, head of alcoholic drinks at Euromonitor International.

by | August 04, 2018 | 04:47

Some experts estimate the Saudi oil company could reach a total stock market value two times bigger than Apple's - at $2 trillion dollars . The year was 1997, while the cutting-edge technologies were spreading its wings beyond the boundaries of the United States, there was a company on the brink of bankruptcy .

by | August 04, 2018 | 02:58

The news came Friday out of China's commerce ministry that the country will be imposing $ 60 billion in retaliatory tariffs on news that the United States plans to raise the rate for $200 billion in proposed tariffs on China, from 10 percent to 25 percent.

by | August 03, 2018 | 11:52

It said its forecasts were based on bets by investors who expect another rate hike only in late 2019 or early 2020, with Bank Rate creeping up to 1.1 percent in late 2020. If you have a variable-rate mortgage on a property, your monthly payments are expected to increase. Sterlingis trading at the day's low despite the Bank of England voting 9-0 for a 0.25% interest rate hike at today's MPC meeting.

by | August 03, 2018 | 11:55

If you need to stock up on school uniforms and other supplies, now's the time to get out your shopping bags because this Friday kicks off the 2018 back-to-school sales tax holiday! That's because shoppers went shopping over the weekend in droves.

by | August 03, 2018 | 11:46

During the session, Apple's stock market value reached as much as $1.006 trillion. According to Apple's Fiscal 2018 Q3 report (1 April to 30 June 2018), this is their new record for the June Quarter. Five of the 10 largest United States companies by market cap on Thursday were tech companies, including Amazon,Alphabet, and Facebook . During that time, Apple evolved from selling Mac personal computers to becoming an architect of the mobile revolution with a cult-like following.

by | August 03, 2018 | 11:36

Though many different USA industries have felt the sting from President Trump's trade dispute with China , Ross argues that American citizens understand the reasoning behind the tariffs. But the move drew swift condemnation from USA business lobby groups anxious that tit-for-tat tariffs would start to hamper economic growth. "Regrettably, instead of changing its harmful behaviour, China has illegally retaliated against USA workers, farmers, ranchers and businesses", Mr.

by | August 02, 2018 | 12:50

The cyclospora parasite causes intestinal illness as a result of consuming contaminated food or water. The incubation period ranges from 2 to 14 days. The USDA on Wednesday warned about potential salmonella contamination in some products that use whey, including certain Ritz crackers and Goldfish products.

by | August 02, 2018 | 08:48

Palo Alto, California-based Tesla recorded a loss of $717.5 million in the latest quarter, more than doubling a year-ago loss of $336 million. Tesla only had to burn through $430 million worth of its unrestricted cash reserves. Tesla is already eyeing future Model 3 production milestones, expecting to hit 6,000 vehicles per week by the end of this month, followed by even more "over the next few quarters".

by | August 02, 2018 | 07:15

The pound dipped 0.05 percent to $1.3102. The dollar was steady against its peers on Monday, sticking to a tight range as market participants awaited key central bank meetings this week that could set the near-term course for currencies. They lowered their forecast for this fiscal year to 1.1 percent from1.3 percent and for next year to 1.5 percent from 1.8 percent. Inflation has also undershot expectations, with the headline and core CPI fell to 0.7 percent and 0.2 percent, respectively ...

by | August 02, 2018 | 04:42

The sanctions effectively block any property or interest in property controlled by them in the US, and bar Americans from engaging in transactions with them. Relations between Turkey and the United States have been tense over multiple issues including American support for a Syrian Kurdish militia who Turkey claims are terrorists as well as the failure to extradite US-based Muslim preacher Fethullah Gulen .