Finance


Treasury Secretary: Trump not threatening Fed's independence Treasury Secretary: Trump not threatening Fed's independence
- July 23, 2018

President Donald Trump told CNBC's Joe Kernen he is ready to implement tariffs on all Chinese goods imported to the United States in order to reduce America's trade deficit. "But I don't like all of this work that goes into doing what we're doing", he said, according to CNBC. "The remarks certainly aren't an immediate threat to Fed independence, but they break with the tradition of respectful distance". (more...)
Fiat Chrysler replaces CEO Sergio Marchionne for health reasons Fiat Chrysler replaces CEO Sergio Marchionne for health reasons
- July 22, 2018

Mr Marchionne was also chairman and CEO of Ferrari. Logical candidates to his succession at Maranello include Ferrari board member and former Philip Morris chairman Louis Carey Camilleri as CEO, and Fiat heir John Elkann as President. "It was a situation that was unthinkable until a few hours ago, and one that leaves us all with a sense of injustice". Elkann said, "What struck me about Sergio from the very beginning, when we met to talk about the possibility of him coming to work for the ... (more...)
Rupee rises 12 paise to 68.33 on sustained dollar-selling Rupee rises 12 paise to 68.33 on sustained dollar-selling
- July 22, 2018

Gold , which is regarded as a hedge against inflation, extended its downtrend and sank to its lowest in a year on a buoyant dollar and falling oil prices. Gold prices rose to match the previous session's highs before returning to negative territory. "Investment by businesses has continued to grow at a healthy rate", Powell said. (more...)
TVs, Washing Machines And These Items To Be Cheaper After GST Revision TVs, Washing Machines And These Items To Be Cheaper After GST Revision
- July 22, 2018

The Council has also chose to fully exempt sanitary napkins from GST, from the existing 12 percent. Speaking to reporters on the sidelines of the 28th GST Council meeting, the minister also said that tax on bamboo also has been slashed to 12 pecent. (more...)
UK's May halts revolt over Brexit trade bill UK's May halts revolt over Brexit trade bill
- July 21, 2018

One Conservative lawmaker present told Reuters that the party whips whose job it is to enforce discipline, desperate to win the vote, had threatened to call a confidence vote against May if she lost, a move that could potentially bring down the government. (more...)
Microsoft (MSFT) Tops Q4 Estimates, Intelligent Cloud Revenue Up 23% Microsoft (MSFT) Tops Q4 Estimates, Intelligent Cloud Revenue Up 23%
- July 21, 2018

MS does not specifically break out Azure revenue/profit but given its massive growth, it was easily the biggest driver to the division's 23% overall revenue growth to $9.61 billion for the quarter. "I predict that Microsoft's cloud market share will continue to grow and impress investors ". Non-GAAP earnings in the quarter were $1.13 a share. (more...)
Speakers, TVs, Kleenex in demand on Amazon Prime Day Speakers, TVs, Kleenex in demand on Amazon Prime Day
- July 21, 2018

Search results show empty lists despite stating that there are hundreds of results for the search query. Amazon is extending its annual " Prime Day " promotion to 36 hours this year and will try to lure more deal-seekers to the aisles of Whole Foods. (more...)
Google hit with record $5 billion fine Google hit with record $5 billion fine
- July 19, 2018

The fine , which was to be announced about midday on Wednesday, ends an European Union probe into Google's contracts with smartphone manufacturers and telecommunications network operators. Why is the fine so large? "The Commission's fine of €4,342,865,000 takes account of the duration and gravity of the infringement", the EU Commission wrote . (more...)
Papa John’s founder: Stepping down as chairman a Papa John’s founder: Stepping down as chairman a "mistake"
- July 18, 2018

He remains Papa John's largest shareholder with about 30 percent of the company's stock. The letters from Schnatter and his attorney were first reported by The Wall Street Journal on Tuesday. It was later on the call that Schnatter said he used the actual word when pressed whether or not he was a racist. The source said that other people on the call got offended. (more...)
Netflix Earnings: Stock Tanks on Weak Subscriber Adds Netflix Earnings: Stock Tanks on Weak Subscriber Adds
- July 18, 2018

The company also downgraded its expectations for the third quarter, but analysts are calling the results a hiccup and say the company remains a compelling investment opportunity in the long run. Netflix's stock had more than doubled this year, with investors betting that the company will add tens of millions of customers around the world for years to come. (more...)
Boeing kickstarts air show with order for jets worth $4.7bn Boeing kickstarts air show with order for jets worth $4.7bn
- July 18, 2018

Boeing takes round one over rival Airbus . The agreement was announced at the Farnborough International Airshow now being held in the United Kingdom, a leading industry event that is expected to provide the platform for a number of similar announcements over the course of the coming week. (more...)
Netflix slides as much as 15 per cent on weak subscriber numbers
- July 17, 2018

Despite the weak quarter, and a lowered outlook for the third quarter, Emarketer expects Netflix to remain the clear leader among video streaming services in the US. In their letter , Netflix officials acknowledged that the company's subscriber growth was lower than anticipated but didn't off much of an explanation of how it came up short. (more...)
The Evolution Of Amazon's Prime Day (NASDAQ:AMZN) The Evolution Of Amazon's Prime Day (NASDAQ:AMZN)
- July 16, 2018

This year's event will hit 17 countries and last from noon PST July 16 until midnight PST July 17 - six hours longer than last year's Prime Day. Unlike Amazon , Target's online sale does not require a membership to participate. "They should build awareness from now until Prime Day", says Roshan Varma, a director in the retail practice at AlixPartners. To become a Prime member, you can either choose the yearly subscription, which is $59, or the monthly subscription which is now $4.99 - ... (more...)
Early Amazon Prime Day Deals Available Now Early Amazon Prime Day Deals Available Now
- July 16, 2018

In April, Jeff Bezos confirmed that there are now more than 100 million Prime members worldwide . Not to be outdone competing retailers will have sales of their own. This year, Amazon has added countries like the Netherlands, Luxembourg, Australia and Singapore to the list of places where it will would be held. To get your dorm room set up nicely, Amazon will have 30% off computer accessories, bath towels, bedding, office chairs, lamps, and more . (more...)
How the U.S. Military Helped Support the Thai Cave Rescue How the U.S. Military Helped Support the Thai Cave Rescue
- July 15, 2018

The parents have reportedly only been able to see their children through windows as they recover. "Of course there were doubts but I knew we had a good team with good support from the Thai authorities and national caving community and rescue organisations, so I knew we had the best that we could do to make a plan work", he added. (more...)
Woolworths recalls savoury rice after listeria outbreak in Europe Woolworths recalls savoury rice after listeria outbreak in Europe
- July 13, 2018

Those who purchased the recalled vegetable products are being offered refunds. "We are voluntarily recalling this product as a precautionary measure‚ on the global instruction of the Hungarian Food Safety Agency‚" the retailer said in a statement announcing the recall. (more...)
US Releases $200bn List Of Chinese Products For Possible New Tariffs US Releases $200bn List Of Chinese Products For Possible New Tariffs
- July 13, 2018

On Friday, the US slapped 25 percent taxes on $34 billion in Chinese imports, majority are industrial goods that the Trump administration says receive subsidies or other unfair support from Beijing . The U.S. Chamber of Commerce has supported Trump's domestic tax cuts and efforts to reduce regulation of businesses, but it has been critical of Trump's aggressive tariff policies. (more...)
UK Government On Verge Of Collapse Days Before Trump's Visit UK Government On Verge Of Collapse Days Before Trump's Visit
- July 13, 2018

This would be unleashed if at least 48 Conservative MPs ask for a letter from Graham Brady, Chairman of Committee 1922, body representing Tory deputies without charge in government. "And we'll have as good a relationship with Jeremy Hunt", Mr Pyne said. "It is not satisfactory, and much more needs to be done to make sure its in a better position, but of course there's only weeks to go". (more...)
Sanctions have turned into opportunity: Iran's defense chief Sanctions have turned into opportunity: Iran's defense chief
- July 12, 2018

Back in May, the United States pulled out of a multilateral nuclear agreement with Iran, and said it would be reinstating its sanctions against Tehran. "In our meeting with the Saudi energy minister, we discussed maintaining a well-supplied oil market to guard against volatility". The US has told India and other countries to cut oil imports from the Gulf nation to "zero" by November 4 or face sanctions. (more...)
Supreme Court nominee Kavanaugh is a BIG baseball fan Supreme Court nominee Kavanaugh is a BIG baseball fan
- July 12, 2018

Shah told The Post that Kavanaugh's friends reimbursed him for their share of the baseball tickets and that the judge has since stopped purchasing the season tickets. As senators begin the process of vetting Supreme Court nominee Brett Kavanaugh , public disclosure forms show he's not almost as wealthy as numerous justices on the high court. (more...)
Murdoch’s Fox raises bid for Sky to $32.5 billion Murdoch’s Fox raises bid for Sky to $32.5 billion
- July 12, 2018

The company says this is 12% higher than the last bid from US -based Comcast. To secure regulatory approval, Fox has agreed to sell Sky's award-winning news channel to Disney to prevent Murdoch from owning too much of the British media. (more...)
U.S. Poised to Publish $200 Billion China Tariff List U.S. Poised to Publish $200 Billion China Tariff List
- July 11, 2018

The Trump administration on July 6 imposed 25 percent duties on $34 billion in Chinese imports, the first time the president has implemented tariffs directly on Beijing after threatening to do so for months. They target baseball gloves, handbags and digital cameras, among other goods. They are meant to put pressure on China to stop stealing USA companies' trade secrets and forcing them to hand over intellectual property to Chinese firms as a condition of doing business there. (more...)
Chinese Tesla Gigafactory: Shanghai factory confirmed by local government Chinese Tesla Gigafactory: Shanghai factory confirmed by local government
- July 11, 2018

China presents a massive growth opportunity for Tesla and rivals such as BMW AG and Daimler AG, which are seeking to take advantage of a massive and fast-growing market for new-energy vehicles. This has made USA -built Tesla vehicles significantly more expensive in China. Tesla hasn't provided an estimate of what the factory might cost to build. (more...)
'Made in China' flags for Trump's 2020 poll campaign? 'Made in China' flags for Trump's 2020 poll campaign?
- July 10, 2018

Signs of nervousness about the trade outlook were evident elsewhere in global markets with the Japanese yen and the Swiss franc firm against the dollar while core US and German bonds were in demand. The U.S.is effectively requiring Chinese leaders to abandon or scale back a high-tech push that they consider vital to their country's future. China lodged a case with the World Trade Organization against the United States, its commerce ministry said on Friday. (more...)
US adds a solid 213,000 jobs; unemployment up to 4 pct US adds a solid 213,000 jobs; unemployment up to 4 pct
- July 10, 2018

The United States has increased jobs monthly for more than seven years, but some analysts suggest that the escalating trade disputes between the U.S. But there is a matter about which the Chairman of the Fed, Jerome Powell, is beginning to express concern, the threat from an escalating tariff "war". (more...)