Finance


USA employers add 157,000 jobs, jobless rate hits 3.9 per cent USA employers add 157,000 jobs, jobless rate hits 3.9 per cent
- August 05, 2018

The Hispanic unemployment rate dropped to 4.5 percent, the lowest level on record. At this stage in a record stretch of job growth that began in 2010, however, all eyes are on wages because they've been much slower to recover from the Great Recession. (more...)
RBI hikes repo rates by 25 basis points RBI hikes repo rates by 25 basis points
- August 05, 2018

Neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 percent, while supporting growth. Laith Khalaf, a senior analyst at Hargreaves Lansdown, says: "Today's decision by the Bank of England to raise interest rates above 0.5% for the first time since the financial crisis is a symbolic one". (more...)
Portugal breaks temperature records amid heatwave Portugal breaks temperature records amid heatwave
- August 05, 2018

Francois Jobard, a forecaster for Meteo France , said the hot air mass from North Africa could cause temperatures in Portugal and Spain of 45C until Saturday and perhaps hotter. In Spain, authorities issued heat warnings for 41 of the country's 50 provinces as temperatures reached up to 44 degrees. Homes in Finland are created to handle the extreme cold and damp typical of the Nordic region, not the recent high temperatures. (more...)
India's oil imports from Iran jump to record-high in July India's oil imports from Iran jump to record-high in July
- August 05, 2018

As reported by Reuters , India's monthly oil imports from Iran grew by approximately 30% to a record 768 000 bpd in July, according to preliminary tanker arrival data obtained by Reuters . "The Americans say they want to reduce Iranian oil exports to zero". The surge in imports has been attributed to perks offered by Iran before United States sanctions on the petroleum sector are enforced from 4 November, following the US's withdrawal from the 2015 nuclear deal. (more...)
Conor McGregor returning to the UFC in October for lightweight title bout Conor McGregor returning to the UFC in October for lightweight title bout
- August 05, 2018

McGregor (21-3) won the featherweight and lightweight championships during his meteoric MMA career, but he hasn't fought in the UFC since taking the 155-pound lightweight belt from Eddie Alvarez in November 2016. McGregor didn't immediately react to the bout announcement on social media. Since then, McGregor's return to the UFC has been teased but the two sides couldn't come to an agreement. (more...)
Vietnam posts $3.1-billion trade surplus in Jan-July Vietnam posts $3.1-billion trade surplus in Jan-July
- August 04, 2018

Lighthizer noted that if tariffs are increased to 25 percent, they would be applied to the proposed list of products that were announced on July 10. China is threatening to impose the tariffs on a wide range of products, including chemicals, plastics and leather goods, according to business groups representing those industries. (more...)
Secretary of State Pompeo Meets with Turkey's Foreign Minister in Singapore Secretary of State Pompeo Meets with Turkey's Foreign Minister in Singapore
- August 04, 2018

Pompeo told reporters on the sidelines of an Asian security forum in Singapore that the two countries would continue to work with each other in the framework of the alliance and on other matters. Both Cavusoglu and State Department spokeswoman Heather Nauert described the conversation as constructive. "We repeated to them that nothing can be achieved through threatening language and sanctions and we believe that this was well understood", he said. (more...)
Molson announces it's developing non-alcoholic drinks infused with cannabis Molson announces it's developing non-alcoholic drinks infused with cannabis
- August 04, 2018

The hundreds of active molecules in the marijuana plant can be transformed into various products beyond just ones that give a buzz, said Hexo CEO Sebastien St. Alcohol giant Constellation Brands Inc., the maker of Corona beer, bought a stake in Canadian pot producer Canopy Growth Corp. last year, and cigarette maker Imperial Brands Plc last month took an equity stake in closely held Oxford Cannabinoid Technologies. (more...)
Apple is first public company worth $1 trillion Apple is first public company worth $1 trillion
- August 04, 2018

For them, superbig is automatically superbad. Last month, an ex-Apple engineer was charged in California with stealing trade secrets from a hush-hush self-driving auto technology project days before he quit to go to a Chinese start-up. Nearly 1.4 million iPhones were sold in the first year they were on the market. The first company to hit $100 million in market capitalization was a crucial railroad that connected New York City, Chicago, Boston, and St. (more...)
China threatens to slap import tax on $60 billion of U.S. imports
- August 04, 2018

The two countries have already imposed about $ 34 billion worth of tariffs on each other. While previously China issued retaliatory tariffs targeting USA goods in areas of the US where President Trump typically finds support, Friday's announcement from China did not identify which US goods would be hit with the $ 60 billion in new retaliatory tariffs. (more...)
Sales tax holiday for BTS supplies set for August 3 to 5 Sales tax holiday for BTS supplies set for August 3 to 5
- August 03, 2018

In 2017 shoppers saved 5 percent during the Back-to-School Sales Tax Holiday . Materials used in a trade or business are not exempt under the sales tax holiday . Heads up, back-to-school shoppers, the 2018 tax-free weekend is coming up fast. Marketing and Special Leasing Representative from the Colony Square Mall, Kevin Pinson, said this weekend always draws in a bigger crowd than normal. (more...)
Loans to get costlier as RBI hikes repo rate again Loans to get costlier as RBI hikes repo rate again
- August 03, 2018

National president of Confederation of Real Estate Developers Associations of India'(CREDA) Jaxay Shah, who was also part of the meeting, said, "Two consecutive hikes in the repo rate partially undo the policies for promoting affordable housing". (more...)
China says United States tariff threat runs against trend of the times
- August 03, 2018

A 25% tariff would boost the cost of a range of US imports at a time when inflation has begun to pick up. In July it accused the United States of bullying and warned it would hit back. Washington touted its initial tariffs as being carefully constructed to avoid having a big impact on USA consumers and companies, but the expansion of the tariff lists has drawn in more goods that can not be imported from outside China. (more...)
Chipotle slumps 9 percent after Ohio outlet linked to food poisoning complaints Chipotle slumps 9 percent after Ohio outlet linked to food poisoning complaints
- August 02, 2018

Diversified Restaurant is trading at a lower price-to-earnings ratio than Chipotle Mexican Grill , indicating that it is now the more affordable of the two stocks. The Delaware General Health District and the fast casual Mexican grill continue to investigate. Chipotle is not giving away $100 gift cardsChipotle closing up to 65 locations as part of restructuring In total, health officials said they received 368 inquiries related to possible food borne illness stemming from the Chipotle ... (more...)
China urges USA to 'calm down' after latest tariff threat
- August 02, 2018

But President Donald Trump now wants the U.S. Trade Representative to consider more than doubling those tariffs to 25 percent. Since then, the USA has continued to expand the list of targeted goods , and even threatened to add tariffs on all Chinese goods . (more...)
Apple becomes the first company with a $1 trillion valuation Apple becomes the first company with a $1 trillion valuation
- August 02, 2018

A company's market value is calculated by multiplying its current share price by the total number of shares investors hold. Wall Street thinks Apple shares can go even higher, too. Since the iPhone first went on sale in 2007, Apple shares have soared by 1,100% and have jumped nearly a third in the past 12 months. With a mountain of overseas cash freed up by last year's sweeping USA corporate tax cuts, Apple bought back a record $43 billion of its own shares in the first six months of 2018, ... (more...)
Parasite scare sparks recall for salads, wraps sold at Trader Joe's, Walgreens Parasite scare sparks recall for salads, wraps sold at Trader Joe's, Walgreens
- August 02, 2018

Department of Agriculture's Food and Safety Inspection Service (FSIS) announced Monday . Caito Foods discovered the issue when their lettuce supplier, Fresh Express, sent notification that the chopped romaine used in some of their salads and wraps was being recalled, according to the FSIS . (more...)
Tesla Stock Rallies 13% Despite Reporting a Record Loss Tesla Stock Rallies 13% Despite Reporting a Record Loss
- August 02, 2018

Musk repeated his view that profitability is just around the corner, thanks to a ramp-up in production of Tesla's Model 3 electric auto. Tesla also said it repeated weekly Model 3 production of 5,000 cars "multiple times". Musk was also enthusiastic about the premise of Tesla owners receiving prizes for completing the Atari titles. We assume that would hold true for all games, because we're fairly certain the motoring public isn't ready for an autonomous auto that lets drivers ... (more...)
United States hits Turkish ministers with sanctions over pastor Andrew Brunson United States hits Turkish ministers with sanctions over pastor Andrew Brunson
- August 02, 2018

The sanctions come before a scheduled meeting between US Secretary of State Mike Pompeo and Turkish Foreign Minister Mevlut Cavusoglu in Singapore on Friday. Ankara had proposed a different trade that had been reportedly rejected by Washington: Brunson for Gulen. Brunson was accused of helping supporters of Fethullah Gulen , the US -based cleric who Turkish authorities say masterminded the 2016 coup attempt against President Tayyip Erdogan in which 250 people were killed. (more...)
Uber shutters autonomous truck project, but self-driving cars remain Uber shutters autonomous truck project, but self-driving cars remain
- August 01, 2018

Despite the shutdown, Uber Freight, a business unit that helps match truck drivers with shipping companies, will not be affected. Controversy was aroused when it purchased Otto , a self-driving truck startup founded by a former Google engineer, in 2016. (more...)
China trade dispute likely to escalate further, may derail global growth: Moody's China trade dispute likely to escalate further, may derail global growth: Moody's
- August 01, 2018

China has always been able to rely upon strong external demand for its exports and a dynamic pace of internal growth as rapid domestic investment and changing consumer needs have seen a new, go-ahead economy take shape. On the other hand, USA actions come at a time when China is trying to manage excess leverage and excess capacity; at least in some sectors, the U.S. (more...)
Apple stock jumps after earnings beat Apple stock jumps after earnings beat
- August 01, 2018

The company's chief financial officer Luca Maestri said customers were buying costlier models, and the $US999 iPhone X was the best seller. With a market capitalization of more than $900 billion, Apple is tickling at the title of world's first trillion-dollar company. (more...)
Harley-Davidson to fight in India with smaller engine bikes Harley-Davidson to fight in India with smaller engine bikes
- August 01, 2018

For this market, Harley intends to develop a much smaller bike, in the range of 250 to 500 cubic centimeters. While this will be Harley Davidon's first foray into the adventure motorcycle market, there's no denying that the company knows how to make comfortable touring bikes, like the Ultra Limited . (more...)
Tesla teases a $1500 surfboard, only 200 will be made Tesla teases a $1500 surfboard, only 200 will be made
- July 31, 2018

Tesla added surfboards to its gift shop on Saturday. To fund a separate project that would connect major cities by tunnels, Musk sold 50,000 $20 hats for the Boring Company in December 2017. You could go surfing on a board that has the same label. The board is already out of stock , according to Tesla's online store. According to Electrek, Tesla partnered up with Lost Surfboards and surfboard maker Matt Biolos to create a design that was both aesthetically pleasing and effective. (more...)
McDonald’s launches ‘MacCoin’ - but it’s really just a coupon McDonald’s launches ‘MacCoin’ - but it’s really just a coupon
- July 31, 2018

Well, OK then. Do we wish them into existence? The Big Mac, since it arrived fifty years ago, has become ubiquitous as a mainstay of speedy, beefy goodness. McDonald's agreed to let Delligatti sell the sandwich at a single location, on the condition that he use the company's standard bun. After similar results at more stores, the Big Mac was added to the national menu in 1968. (more...)