Economy

Trump plan will aid farmers hurt by tariffs

Trump plan will aid farmers hurt by tariffs The US slapped tariffs on $34 billion of Chinese imports. Mr. Trump has placed tariffs on imported steel and aluminum, saying they pose a threat to USA national security, an argument that allies such as the European Union and Canada reject. [Full Article...]

Alphabet's Q2 profit triggers rally, despite $5.1B European Union fine

Alphabet's Q2 profit triggers rally, despite $5.1B European Union fine Google plans to contest the ruling. Last week's European fine came about a year after Google was stung by a similar $2.7 billion fine that the EU said was for favoring its shopping listings in search results. On the face of it, the European Commission's massive fine hasn't really hurt Alphabet - at least not in the eyes of investors. The reason for the surge was better than expected profits ... [Full Article...]

Alphabet lifted by better-than-expected earnings

Alphabet lifted by better-than-expected earnings Analysts surveyed in advance by Yahoo Finance expected Google's parent company to post earnings of $9.54 per share on revenue of $32.17 billion for the quarter. The sums Google pays out to websites and mobile partners to distribute its search engine and ads - called Traffic Acquisition Costs - also rose to US$6.4 billion for the quarter. [Full Article...]

Tesla says it requested supplier discount for ongoing projects

Tesla says it requested supplier discount for ongoing projects The Monday stock sell-off, to $296.61 at 10:10 a.m., left Tesla down 7.3 percent for the year. "This is one more sign that money is getting shorter and shorter and I am sure that Tesla needs fresh money at the latest next year", said Frank Schwope, an analyst with NORD/LB. [Full Article...]

Tesla shares drop on report that it asked suppliers for refunds

In a memo sent to several suppliers requesting money back, Tesla said the cash back would be necessary for Tesla's "continued operation" and that it was an investment in "long-term growth ". With high expenses and CEO Elon Musk's unwillingness to raise additional cash, this may prove to be another means to increase Tesla's cash flow. The WSJ quoted the company as confirming it is seeking price... [Full Article...]

Mega Millions Jackpot Increases to $433 Million Ahead of Friday Night’s Drawing

Mega Millions Jackpot Increases to $433 Million Ahead of Friday Night’s Drawing Consult with a financial advisor. That makes the 5th highest Mega Millions prize in the game's history, according to the Mega Millions website. If there is a victor, they have a cash option worth $296 million. The winning numbers were 1-14-30-44-62. It will also be the largest total since a single ticket paid out $533 million to a person from New Jersey this March. [Full Article...]

What is a currency war and could Trump trigger one?

What is a currency war and could Trump trigger one? A second tranche of US$16 billion (RM65 billion) in products is under review and could soon be added to the U.S. measures. Last week, the Trump administration also identified a further $200bn in Chinese goods it may target for tariffs, for a total of $250bn. [Full Article...]

Gold hits one-year low on talk of more U.S. rate rises

Gold hits one-year low on talk of more U.S. rate rises Markets also responded to a second day of congressional testimony from US Federal Reserve Chairman Jerome Powell , whose upbeat remarks about the economy on Tuesday bolstered the dollar. Trade policy "has significant effects on the economy", Powell said, and "there is no precedent for this kind of broad trade discussion". Both the European Union and Japan have been hit with new United States ... [Full Article...]

Leaders Are Far Too Relaxed About N.Korea's Denuclearization

Leaders Are Far Too Relaxed About N.Korea's Denuclearization Congress at the White House in Washington, July 17, 2018. The Singapore summit was mainly about Trump's push to rid North Korea of its nuclear weapons. "Discussions are ongoing and they're going very, very well ". The United States accused North Korea last week of breaching a U.N. sanctions cap on refined petroleum by making illicit transfers between ships at sea and demanded an immediate... [Full Article...]

Dollar pares back after Trump comments; world stocks dip

Dollar pares back after Trump comments; world stocks dip In a taped interview with the business channel CNBC , Trump said "I'm willing to go to 500", referring roughly to the $505.5 billion in goods imported a year ago from China . After more than six years of record low interest rates that helped the USA economy recover from the 2008 financial crisis, the Fed began to slowly raise rates again in December 2015 and has raised them five times since ... [Full Article...]

28th GST Council meeting in Delhi

28th GST Council meeting in Delhi Goyal said that while GST tax on sanitary pads was cut from 12% to zero, rakhis were exempted from the tax. A special meeting of GST council will be held on 4 August in Delhi that will be focussed on MSMEs (Micro, Small and Medium Enterprises ) sector. [Full Article...]

White House's Kudlow blames China's Xi for blocking U.S. trade deal

White House's Kudlow blames China's Xi for blocking U.S. trade deal She reiterated that China does not want a trade war but is not afraid of one. The economy was spurred by Trump's regulation cuts and tax cuts and the expected GDP growth around 3 percent this year "may be the beginning of the recovery", Kudlow said . [Full Article...]

United States dollar down on as Trump makes fresh threats vs China

Around $505 billion of Chinese goods were imported to the U.S.in 2017, leading to a trade deficit of almost $376 billion, USA government data shows. Trump defended his comments to CNBC by saying he is "just saying the same thing that I would have said as a private citizen". [Full Article...]

Trump threatens tariffs on all $500 billion of Chinese imports

Trump threatens tariffs on all $500 billion of Chinese imports White House spokeswoman Lindsay Walters said in an emailed statement that the president "respects the independence of the Fed", adding that his views on rates "are well known and his comments today are a reiteration of those long-held positions". [Full Article...]

Cloud-driven Microsoft crosses $100bn revenue for first time

Cloud-driven Microsoft crosses $100bn revenue for first time These bumper numbers can largely be credited to the seemingly unstoppable growth of the company's cloud biz, which is up 23 per cent compared to past year. The COO also added about the trail of recent acquisitions for the company and how they are looking to bridge the gap between mobile, PC, and console gaming. [Full Article...]

Trump Tells CNBC He's 'Not Thrilled' About Rate Hikes

Mr Trump has slapped hefty import taxes on steel and aluminium from the EU, Canada and Mexico, in addition to imposing levies on goods from China worth tens of billions of dollars, sparking retaliatory tariffs and stoking fears of an all-out trade war. [Full Article...]

Power and Norms Rule Trade War with US, Says China

Power and Norms Rule Trade War with US, Says China The report was released a day after the annual China-EU Summit in Beijing, where there were signs of progress on a bilateral investment treaty. "To fight United States trade protectionism, [we] should make use of the different interests among countries to deepen economic cooperation with Japan, the European Union, the Association of Southeast Asian Nations, Japan and Russian Federation", the rep... [Full Article...]

US Crude Oil Price Heads Lower Again

US Crude Oil Price Heads Lower Again According to API, crude oil production hit 10.7 million barrels per day (MMbpd) in June and NGL production reached 4.2 MMbpd during the same period. After sliding lower early on in the session, crude oil futures cut losses and rebounded into positive territory amid high volatility on Thursday. The price of USA crude oil is continuing on its downward path Thursday after a modest rally Wednesday... [Full Article...]

European Union fines Google $5 billion

European Union fines Google $5 billion It nearly doubles the €2.42b - about Dollars $2.8b - that the European Union levied against the company past year over promoting its own shopping comparison service at the top of its search results. The Brussels regulator insisted the tech giant had used Android illegally to "cement its dominant position" in user searches. These practices have denied rivals the chance to innovate and compete on th... [Full Article...]

‘It’s not too late to save Brexit’: Boris Johnson tells United Kingdom parliament

‘It’s not too late to save Brexit’: Boris Johnson tells United Kingdom parliament The close shave in parliament was May's third this week, underscoring the difficulty she faces in passing legislation on one of the most divisive and important decisions in modern British history with only a minority government and her Conservative Party at war with itself. [Full Article...]


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