Economy

Another $267B China tariffs ready to go after $200 already announced

The $US200 billion list, which includes some consumer products such as cameras and recording devices, luggage, handbags, tires and vacuum cleaners, would be subject to tariffs of 10 per cent to 25 per cent. Trade Representative Robert Lighthizer urging the administration to avoid imposing more tariffs. But David French, top lobbyist for the National Retail Federation, whose members include Amazon.... [Full Article...]

Mercedes unveils its first fully electric vehicle

Mercedes unveils its first fully electric vehicle Mercedes-Benz has corrected its initial range estimate for its electric EQC 400 crossover from 200 to 279 miles. The dual motor electric motors generate 402 horsepower and 564 pound-feet of torque. Mercedes-Benz described this as an "avant-garde electro-look" and called out how the dashboard and door trim are meant to remind you of a high-end amplifier. [Full Article...]

Trump, Trudeau raise NAFTA brinkmanship, muse about walking away from deal

Trump, Trudeau raise NAFTA brinkmanship, muse about walking away from deal Canada's Minister of Foreign Affairs, Chrystia Freeland , who spent the week in Washington D.C. negotiating with White House officials, tweeted on Friday that Canada is "making progress" in its talks to "modernize NAFTA, but we are not there yet". [Full Article...]

SA in "technical recession" due to second quarter contraction

SA in Citadel Chief Economist Maarten Ackerman said that although the technical recession of two consecutive quarters of contraction heightened South Africa's risk of suffering yet another credit downgrade in the second half of the year, he expected an upside surprise in the second half. [Full Article...]

JD.com Founder Richard Liu Has Been Accused of Rape, Report Says

JD.com Founder Richard Liu Has Been Accused of Rape, Report Says He was released Saturday. JD.com's shares plunged the most on record in the U.S. on Wednesday, extending a decline and putting CEO Richard Liu Qiangdong's stock options under water, as the market waits to see if prosecutors will bring charges against the billionaire founder, who was arrested for suspected rape last Friday before being later released. [Full Article...]

McDonald's applauds students behind viral prank

Maravilla's shenanigans, which have since gone viral, were the result of a realization that there were zero images of Asians on the walls at the particular McDonald's restaurant that they frequent. They even found a McDonald's shirt at a thrift store and dressed up as employees. In the video, Maravilla takes off his jacket to impersonate an interior coordinator and then supervises as his friends... [Full Article...]

Japan's oil distributors plan to stop importing Iranian crude in October

Japan's oil distributors plan to stop importing Iranian crude in October Crude is up 9% since mid-August as WTI flirts with $70 per barrel. China also made similar comments and was said to have rejected an American request to cut imports. Russian production has now surpassed the Soviet era peak above 11 million barrels per day. But Trump's attack on cheap Chinese imports, and his decision to impose trade tariffs on a wide range of Chinese goods entering the US, c... [Full Article...]

Pressley's upset another win for fresh Democratic voices

Pressley's upset another win for fresh Democratic voices Robert Pittenger (R-N.C.), Rep. Mark Sanford (R-S.C.) and Rep. Joe Crowley (D-N.Y.). Pressley represents the latest underdog candidate to have emerged to challenge both establishment Democrats and Republicans. Democratic congressional nominee Ayanna Pressley took a shot at President TrumpDonald John TrumpBrennan defends Kaepernick: He didn't kneel "to disrespect our flag" Trump warns Syria ... [Full Article...]

Amazon becomes the country's second $1 trillion company

Amazon becomes the country's second $1 trillion company On Monday a rise in the share price of Amazon, which is listed on the Nasdaq stock exchange in the USA, briefly took it above the trillion-dollar watermark for the first time with the company's value hovering clse to. It's now a diversified global enterprise with more than $200 billion in annual sales and more than 575,000 employees. One of Amazon's revenue drivers is its Prime subscription ... [Full Article...]

Amazon Hits $1 Trillion

Amazon Hits $1 Trillion Amazon has become the second company listed in the USA to achieve a market value of $1trn (£779.3bn). Amazon.com on September 4 became the second USA company to reach $1 trillion in stock market value, just weeks after Apple hit the same milestone on August 2 . [Full Article...]

Energy department intervenes to keep petrol price increase down

Energy department intervenes to keep petrol price increase down Petrol price in Delhi rose to a record ₹79.15 a litre and diesel climbed to a fresh high of ₹71.15, according to price notification of State-owned fuel retailers. Due to sanctions on Tehran from the US, India had to reduce its imports from Iran, subsequently reducing the total fuel availability in the country. This is the steepest increase in fuel prices since the daily revision in fuel prices wa... [Full Article...]

India's growth surges to 8.2%

India's growth surges to 8.2% Commenting on the April-June quarter results, Economic Affairs Secretary SC Garg said that India's economy was on a steady growth path and added that the fiscal deficit will not exceed 3.3 per cent of the GDP in 2018-19. The index of industrial production (IIP) - the broadest approximation to measure activity across India's factories - has grown at 5.2 percent during April-June 2018 compared w... [Full Article...]

Argentina's currency plunges to new low, despite International Monetary Fund aid

Argentina's currency plunges to new low, despite International Monetary Fund aid Argentina's peso tumbled 7.6 percent against the USA dollar despite the central bank's heavily selling reserves for a second day on Wednesday after the president asked the International Monetary Fund for early release of standby funds, shaking investors' confidence. [Full Article...]

Trump Has Fighting Words for the World Trade Organization

Trump Has Fighting Words for the World Trade Organization If you're a federal worker who avoids the news yet for some reason subscribes to this newsletter , we've got a bummer of an update: You're not getting a raise. If the United States withdraws from WTO, it would upset the worldwide trade system set up decades ago and was supported by the US. President Donald Trump is prepared to quickly ramp up a trade dispute with China and has told aides ... [Full Article...]

Trudeau: NAFTA deal possible by Friday, but only if good for Canada

Trudeau: NAFTA deal possible by Friday, but only if good for Canada The U.S.is emphasizing the Friday deadline, but there's some wiggle room. "This Friday business is just Trump bullying, which he likes to do". The leaders of the United States and Canada expressed optimism on August 29 that they could reach new NAFTA deal by a Friday deadline as negotiators prepared to talk through the night, although Canada warned that a number of tricky issues remained. [Full Article...]

Trump slashes federal pay increase

Trump slashes federal pay increase That's wrong - and it disrespects the important work done throughout our country by federal workers. It also issued a series of executive orders that would have made it all but impossible for federal employee unions to operate in federal buildings and to ease rules on firing employees. [Full Article...]

Coca-Cola Buys Costa Coffee in a £3.9 Billion Deal

Coca-Cola Buys Costa Coffee in a £3.9 Billion Deal Whitbread's chief executive Alison Brittain said the group will now focus on its Premier Inn hotel chain in the United Kingdom and Germany. Since then, Costa has grown from just 39 shops to become the biggest coffee firm in Britain. "Whitbread, which also owns budget hotel chain Premier Inn, said that its board had unanimously approved the deal, and that it expects the sale to be completed by the ... [Full Article...]

Security camera catches speeding Tesla going airborne after hitting railroad tracks

Security camera catches speeding Tesla going airborne after hitting railroad tracks Investigators said the vehicle went airborne, landing 100 feet away before crashing into the parking lot and colliding with a a tree. Barrie Police Department has now charged a 46-year-old man with risky driving following the single-vehicle smash. [Full Article...]

Facebook Watch rolls out globally in bid to take on YouTube

Facebook Watch rolls out globally in bid to take on YouTube Facebook is launching its video platform Facebook Watch internationally. The streaming service started life around a year ago as a trial in the U.S. That might seem a little stingy at first, but Facebook Watch potentially gives them access to an audience some 1.5 billion-strong. Videos you can participate in: We're building new video experiences that put people at the center, giving them... [Full Article...]

Vodafone, TPG announce merger of equals

Vodafone, TPG announce merger of equals TPG and Vodafone Hutchison Australia have announced that they will proceed with their merger to form a telecommunications giant that they say will have an enterprise value of approximately AU$15 billion. Major shareholders of Vodafone Australia and TPG, including Mr Teoh, have entered a 24-month voluntary escrow arrangement as a show of their commitment to the merger. [Full Article...]


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