Economy

Dollar seesaws vs yen after BOJ tweaks policy

Dollar seesaws vs yen after BOJ tweaks policy BOJ's policy announcement to make its massive stimulus programme more flexible provided some comfort to bond investors, as the policy tweaks didn't appear to show any inclination from the central bank make a radical shift from its accommodative stance. [Full Article...]

Alert issued for salads, wraps due to parasite concern

Alert issued for salads, wraps due to parasite concern Department of Agriculture's Food and Safety Inspection Service (FSIS) announced Monday . According to Trader Joe's, the company was alerted by a supplier that romaine lettuce found in the meals has the potential to be contaminated with cyclospora . [Full Article...]

Elon Musk apologizes for behavior on infamous Tesla earnings call

Elon Musk apologizes for behavior on infamous Tesla earnings call Musk offered his apologies directly to Toni Sacconaghi from Bernstein and Joseph Spak of RBC Capital Markets, the analysts he brushed off in May. Sustainability and profitability will be key yardsticks in the quarter ahead. This quarter, Tesla hit its 5,000-car-per-week production goal "multiple times" in July-meaning it's not hitting this rate consistently. As of April, some 23% of reservatio... [Full Article...]

U.S. sanctions Turkish officials over pastor’s detention

U.S. sanctions Turkish officials over pastor’s detention Brunson, who has lived in Turkey for more than two decades, faces up to 35 years in jail if found guilty of the charges, which he denies. The Turkish leader previously connected Brunson's return to the U.S.to the extradition of Fethullah Gulen . [Full Article...]

Tesla just built a USD 1,500 surfboard, because why not

Tesla just built a USD 1,500 surfboard, because why not And if you're a real Tesla fan and own a Model X or S, you'll be happy to hear that you can fit one of the surfboards in your vehicle. Tesla's new surfboards by the way, do NOT come with electric motors. Elon Musk teamed up with Matt Biolos' Lost Surfboards to create a limited edition of 200 boards. According to the description, the surfboards feature a mix of the same high-quality matte ... [Full Article...]

Trump Campaign: Reports of Banners Made in China Not True

Trump Campaign: Reports of Banners Made in China Not True Yesterday, after meeting with European Commission President Jean Claude Juncker , President Trump announced that the United States has reached an agreement with the European Union in principle, which would formally begin the negotiation process with an aim to work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods. [Full Article...]

Apple stock rises after hours on blockbuster earnings report

Apple stock rises after hours on blockbuster earnings report The $999-priced iPhone X is a major contributor towards this "average selling price" increase and it should be noted that this price range is expected to remain the same with the imminent launch of the 2018 iPhone series. For those watching to see if Apple becomes the market's first trillion-dollar company today, the stock price will need to hit $203.46. Apple ended the trading day with ... [Full Article...]

Harley-Davidson rebels with an electric motorcycle

Harley-Davidson rebels with an electric motorcycle Harley-Davidson, known for its car-alarm triggering engine rumble, said LiveWire will have no clutch and no gears. As part of a plan it calls "More Roads to Harley-Davidson", the company expects to spend $675 million-$825 million over the next four years, chop costs and generate $5.9 billion-$6.4 billion in revenue in 2022. [Full Article...]

McDonald's goes retro with Big Mac tribute coins

McDonald's goes retro with Big Mac tribute coins The ability to trade the MacCoins in for a Big Mac starts on August 3, 2018. All you have to do to get your hands on one is buy a Big Mac - and McDonald's staff will give you a MacCoin for free. The early '00s specifically focuses on the technology that was at the forefront of the turn of the century. McDonald's in Berks County and the Lehigh Valley will be among more than 14,000 restaura... [Full Article...]

Facebook CEO's one day loss is nearly Nigeria's budget in 2017

Facebook CEO's one day loss is nearly Nigeria's budget in 2017 Facebook lost Dollars $119 billion in market value as the share price plunged - reportedly the largest single-day loss for any public company in history. Company shares saw a massive drop in March in the wake of the Cambridge Analytica data breach scandal. The earnings report released by the company stated that the management expects the revenue growth to slow down significantly in Q3 and Q4. [Full Article...]

Tariffs are the greatest, tweets Trump - hours before meeting Juncker

Tariffs are the greatest, tweets Trump - hours before meeting Juncker Trump will take his competitive approach on trade into a meeting Wednesday with European commission president Jean-Claude Juncker, who will come armed with proposals meant to appease the mad man behind the wheel. Fox News financial analyst Neal Cavuto called it a "dramatic, a stunning development, on trade". They also said they would cooperate to reform the rules of the World Trade Organiza... [Full Article...]

Amazon earnings top forecasts on cloud computing, ad growth

Amazon earnings top forecasts on cloud computing, ad growth Wall Street analysts had forecast Amazon's earnings at $2.50 a share, and revenue of $53.3 billion. The online giant saw net sales up 39% to $52.89bn (£40.3bn) from $37.96bn (£29bn) a year earlier, driven by a rise in online shopping and higher demand for its cloud services. [Full Article...]

U.S. Could See Blockbuster Economic Growth Number Today

U.S. Could See Blockbuster Economic Growth Number Today With the new numbers on the GDP growth rate today, CNN's Brooke Baldwin said, "Obviously the President fulfilling a major economic promise". But Trump nevertheless focused on the sudden drop in the USA trade deficit as another triumph for his tough trade policies. [Full Article...]

Bad week in social media gets worse; Twitter stock hammered

Bad week in social media gets worse; Twitter stock hammered Twitter's ad business is growing, and some of its top advertisers have praised the focus on the platform's overall health as necessary for their long-term interest there. The company said it is now challenging more than 9 million questionable accounts a week, up from 6.4 million last December. The company doesn't disclose the total number of daily users. [Full Article...]

European Union secures four months' respite with Trump trade deal, official says

European Union secures four months' respite with Trump trade deal, official says FOUR TRADE PRINCIPLES: High-level trade negotiations will follow the 4 principles agreed to by President Trump and President Juncker. Juncker said the two leaders agreed that as long as negotiations were ongoing, "we'll hold off further tariffs and reassess existing tariffs on steel and aluminum" put in place by the Trump administration. [Full Article...]

Facebook shares fall 9 percent on revenue miss

Facebook shares fall 9 percent on revenue miss Wehner warned that Facebook expected its revenue growth to slow from the 42% pace it posted in the second quarter and its operating margins to fall from 44% in the period. Technology companies account for six of the 10 biggest companies in the S&P 500 Index. Breaching customers' trust by using and/or distributing their personal information is reportedly having more of a negative effect on F... [Full Article...]

Bitcoin slumps after U.S. regulators reject Winklevoss crypto exchange-traded fund, again

Bitcoin slumps after U.S. regulators reject Winklevoss crypto exchange-traded fund, again Hester Peirce, an SEC Commissioner objects the second rejection of Cboe's Bitcoin ETF to be managed by Winklevoss brothers by SEC. In a 92-page decision released Thursday, the SEC was not persuaded that the twins and their company could protect investors from abuse and fraud. [Full Article...]

Facebook hammered as user growth cools

Facebook hammered as user growth cools As markets opened on Thursday in the US, Facebook went into freefall. Eastern time. Snap's shares were down by more than 2 percent. "We continue to focus our product impact on putting privacy first, and that's going to have some impact on revenue growth", said Facebook chief financial officer David Wehner on the earnings call. [Full Article...]

Oil prices climb as Iran-backed Houthi rebels attack Saudi Arabian tankers

Oil prices climb as Iran-backed Houthi rebels attack Saudi Arabian tankers Khalid al-Falih, the Saudi energy minister said in a statement that the two oil tankers , each carrying two million barrels of oil, had been attacked and one sustained minimal damage. "Today's attacks and Saudi announcement will also escalate tensions with Iran, which supports Houthi forces that have been increasingly threatening Saudi onshore and offshore oil assets and flows". [Full Article...]

China to pull approval for Facebook's planned venture

China to pull approval for Facebook's planned venture The subsidiary, Lianshu Science & Technology, has $30 million of registered capital, and it will advise small businesses and make minor investments, according to records. Facebook has always been keen to get back into China, which blocked access to the platform in 2009. Chief executive Mark Zuckerberg made personal appeals to the Chinese Communist Party's top brass, including learning Mandarin a... [Full Article...]


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