Economy

Oil up as US sanctions on Iran expected to tighten supply

Oil up as US sanctions on Iran expected to tighten supply Looming US sanctions against Iran will likely hit Tehran's oil sales overseas, and it could lead to a price spike in oil contracts. Prices could easily soar if tensions rise and violence spills over into the oil market. Saudi Arabia is also home to 3.2 million Indians, the largest expatriate community in the kingdom whose annual remittances are worth about $10 billion. [Full Article...]

Tesla board evaluating CEO Musk's idea to take company private

Tesla board evaluating CEO Musk's idea to take company private Teresa Goody, a former SEC official, said Musk "did something inappropriate and caused chaos in the market" in a way that would likely draw scrutiny from investigators. "This included discussion as to how being private could better serve Tesla's long-term interests, and also addressed the funding for this to occur". Tesla may find it hard to line up banks and investors to lend it large sums. [Full Article...]

'Buck-a-Beer' coming back to Ontario

'Buck-a-Beer' coming back to Ontario Here's a breakdown of what Ford's promise means . "We promised buck-a-beer and we're delivering on our campaign promise", he added. Ontario Premier Doug Ford was all smiles today as he helped stack beer at the Barley Days Brewery in Picton; all smiles, too, as he delivered on an election promise to lower the minimum price on a bottle of beer. [Full Article...]

Trump satisfied with result of market tariffs increase regarding China

Trump satisfied with result of market tariffs increase regarding China President Donald Trump blames the practices for putting United States companies at a disadvantage and helping to create a trade deficit . Trump then threatened to slap a 10% tariff on another $200 billion worth of Chinese goods, again leading to a counter-threat from Beijing. [Full Article...]

Obama Day: All the Best Memes & Tributes

Obama Day: All the Best Memes & Tributes President Donald Trump touted his approval numbers in a Sunday afternoon tweet that also pointed to the economy and military, while claiming he had "better numbers" than former President Barack Obama "by far", though he did not specify which numbers he was addressing. [Full Article...]

Elon Musk jolts Wall Street with tweet on going private

Elon Musk jolts Wall Street with tweet on going private In a stunning move today the CEO of electric auto maker Tesla (NASDAQ: TSLA ) tweeted out to his twenty two million followers that he was "considering taking Tesla private ", similar to the move made by Michael Dell and Dell Computers circa 2013. [Full Article...]

Dead fetus found on commercial plane landed in NY from Charlotte

Dead fetus found on commercial plane landed in NY from Charlotte The fetus was between three to six months along. The City Medical Examiner is working on determining how the fetus died. LGA Airport officials tweeted that travelers may experience a delay due to an "out of service aircraft". American Airlines said it was assisting police with their investigation. The cleaning crew immediately contacted their manager, who in turn contacted law enforcement... [Full Article...]

Elon Musk considers taking Tesla private as stock jumps

The stock was up Tuesday after the Financial Times reported that Saudi Arabia had taken a $2 billion stake in the electric auto company. Musk's surprise announcement comes as the Financial Times revealed that a fund controlled by the Saudi Arabian government holds a stake of between three and five percent in the company. [Full Article...]

Facebook accused of asking banks for financial information about its users

Facebook accused of asking banks for financial information about its users Facebook has asked major banks to share financial information about their customers, such as card transactions and account balances, as it considers launching new financial products. The company, however, clarified that it would not use the bank data for ad-targeting purposes or share it with third parties. Shares of Menlo Park, California-based Facebook ended the day up 4.5 percent at $185.69. [Full Article...]

Brian France, NASCAR chairman, arrested for DWI and criminal possession of oxycodone

Brian France, NASCAR chairman, arrested for DWI and criminal possession of oxycodone Monday after arraignment. He was released on his own recognizance and is scheduled to appear in court September 14. We're working to gather more information. Cops also found oxycodone pills on him during a search, officials said. Brian France became CEO in 2003. Police said France smelled of alcohol and slurred his words during the traffic stop. [Full Article...]

Indra Nooyi quits PepsiCo, 12 years after being CEO

Indra Nooyi quits PepsiCo, 12 years after being CEO Under her chairmanship, the company also improved in environmental sustainability metrics. Nooyi was named as Fortune's second most powerful woman in business a year ago, coming after chairman and CEO of General Motors, Mary Barra. Since September 2017, Laguarta has served as President of PepsiCo, overseeing global operations, corporate strategy, public policy and government affairs. [Full Article...]

Fiat-Chrysler red-flags Mahindra Roxor in the American market

Fiat-Chrysler red-flags Mahindra Roxor in the American market On August 1, FCA US LLC filed a complaint with the United States International Trade Commission alleging violations of section 337 of Tariff Act 1930 in which it claims that Mahindra's off-road utility vehicle Roxor is a copy of the Jeep design IP owned by FCA. [Full Article...]

Conor McGregor to fight Khabib Nurmagomedov at UFC 229 in Las Vegas

Conor McGregor to fight Khabib Nurmagomedov at UFC 229 in Las Vegas McGregor, who once held two titles in the UFC , led a band of associates into Barclays Center in Brooklyn in April and vandalized a bus occupied by Nurmagomedov and other UFC fighters. In the fight, McGregor will be the challenger for the 155-pound title that he relinquished in April due to inactivity. At 26-0, Russia's Nurmagomedov has been untouchable as a pro, and his recent wins over Mich... [Full Article...]

Will you attend Trump's rally in DE next week?

Will you attend Trump's rally in DE next week? This, he argued, will inevitably have negative consequences, and damper the Republicans' chances in November. But in the general election, Democrats all hate Trump and among Independents he's mostly upside-down. This appears to be particularly evident on fiscal issues. President Donald Trump is predicting a "tremendous victory" for OH state Sen. "What happens is they get lost in our country ... [Full Article...]

Russia Rolls Back Most of Oil Cuts as Supply Risks Worsen

Russia Rolls Back Most of Oil Cuts as Supply Risks Worsen In comments to Kuwait's Al-Rai newspaper, Rashidi said, "We are reaching a very stable stage for the crude market, whether for producers or consumers". Market participants await the next fundamental development to drive prices, which is likely to be news of who stopped buying Iranian barrels for August. [Full Article...]

Ryanair's Swedish Pilots Call 24-hour Strike

Ryanair's Swedish Pilots Call 24-hour Strike Pilots in Belgium and Sweden have announced a walkout for Friday, August 10. Trade union Forsa, of which the Irish Air Line Pilots' Association (IALPA) is a branch, said directly employed Ryanair pilots in Ireland would stage their fifth one-day strike since July 12 beginning at 0100 on August 10 in an ongoing dispute about working conditions including base transfers. [Full Article...]

Be prepared for higher EMIs after twin RBI rate hikes

Be prepared for higher EMIs after twin RBI rate hikes Today's hike in interest rates will make loans more costlier in the coming days. Retail inflation has been projected at 4.4 percent for Q2 of F1Y 19, excluding HRA impact, 4.7-4.8 percent in H2 in FY19 and 5 percent in Q1 of FY20 as the committee anticipates a hike in food prices due to the recent Minimum Support Price (MSP) hike. [Full Article...]

United States jobless rate drops to 3.9%. in July; 157000 new jobs created

United States jobless rate drops to 3.9%. in July; 157000 new jobs created There have also been concerns that the trade tensions could dampen business confidence and lead companies to shelve spending and hiring plans. This year's pickup comes after a steady economic recovery that has entered its tenth year and is now the second-longest on record. [Full Article...]

China refuses USA order to reduce oil imports from Iran

China refuses USA order to reduce oil imports from Iran The government of President Hassan Rouhani also faces opposition from conservatives and religious leaders, who have long opposed his outreach to the West and are keen to leverage anger over corruption to unseat him. We will go by our interests. Iran's state-run IRNA news agency reported Sunday that the five ATR 72-600 airplanes, which are twin-engine turboprops, had arrived at Tehran's Meh... [Full Article...]

Spain, Portugal brace for record high temperatures amid scorching European heatwave

Spain, Portugal brace for record high temperatures amid scorching European heatwave A building heat wave in Portugal and Spain threatens to topple national and all-time high temperature records in a continuation of a series of remarkable heat waves that have roasted the Northern Hemisphere this summer. Ladbrokes also cut odds on August highs beating Britain's 38.5C (101.3F) record, set on August 10, 2003, at Brogdale, Kent. The record of Spain at 47.3 degrees Celsius was se... [Full Article...]


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