Money

United States businesses already hurt by tariffs: Fed chair Powell

United States businesses already hurt by tariffs: Fed chair Powell Index heavyweight Samsung Electronics rose 1.85 percent and SK Hynix jumped 1.24 percent. The trade-weighted index was at 73.01 from 72.76. Palladium fell 0.4 percent to $913.50 per ounce, sliding to $905.05, its lowest since April 9. The contract was relatively unchanged at $68.08 in NY on Tuesday. Of note, shares of Amazon touched an all-time high on a report that reflected robust Prime Day ... [Full Article...]

Korean officials visit N. Korea to jointly inspect railways

Korean officials visit N. Korea to jointly inspect railways The Singapore summit was mainly about Trump's push to rid North Korea of its nuclear weapons. But since then, Mr Trump has suggested that dismantling North Korea's nuclear arsenal could be some way off. "Discussions are ongoing, and they're going very, very well ", he said. Even Trump himself said past presidents failed due to the protracted negotiations. [Full Article...]

Trump in unusual criticism of USA central bank

Trump in unusual criticism of USA central bank In a series of tweets , he also accused the European Union and China of "manipulating their currencies and interest rates lower, while the USA is raising rates while the dollars gets stronger and stronger with each passing day - taking away our big competitive edge". [Full Article...]

No GST on sanitary pads, rakhis; rates slashed on shoes, several appliances

No GST on sanitary pads, rakhis; rates slashed on shoes, several appliances Sanitary pads were placed in the 12% tax slab when the Goods and Services Tax was implemented on July 1, 2017, though several other products such as sindoor (vermilion) and bangles were declared tax-free. Mr Goyal said, return forms will be simplified into two formats - Sugaam and Sahaj. Goyal also said that the GST council has cleared 46 amendments which will be passed in Parliament. [Full Article...]

Trump says EU officials want to negotiate trade deal in Washington visit

Trump says EU officials want to negotiate trade deal in Washington visit Kudlow said China could end US tariffs "this afternoon" if it took measures that include cutting tariff and non-tariff barriers to imports. "We have confidence and enough capabilities to safeguard our legitimate interests, and make joint efforts with other countries to maintain worldwide rules and the multilateral trading system", Hua said. [Full Article...]

Trump's Fed bashing could backfire by stiffening rate-hike resolve

During the interview, Trump himself predicted the response: "Now I'm just saying the same thing that I would have said as a private citizen", he said. The Federal Reserve was created in 1913 to provide stability to USA currency. The Fed has raised interest rates five times since Trump took office in January 2017, extending the campaign it began in 2015. [Full Article...]

I’m ready to put tariffs on every import from China, Trump warns

I’m ready to put tariffs on every import from China, Trump warns Markets around the world lost ground on the comments . "I am not happy about it". In the same interview, taped Thursday at the White House, Trump broke with a long-standing tradition at the White House and voiced displeasure about recent actions at the U.S. [Full Article...]

Microsoft posts bumper Q4, with Windows, Surface, Azure all up

Microsoft posts bumper Q4, with Windows, Surface, Azure all up A large reason for that is the continued strength of Microsoft's cloud and Office efforts, which have been exceptional performers for the company for some time. MSFT could exceed expectations meaningfully in the quarter, especially in its More Personal Computing business segment which includes Windows . Its popular Surface laptop-turned-tablet range earned a 25 per cent increase in revenue, w... [Full Article...]

Trump Says He’s ‘Not Happy About’ Feds Raising Interest Rates

The president said China had harmed the U.S.by deflating its currency to suppress the price of Chinese goods and violating trade laws. Trump's criticism of the Fed departs from the norm of recent decades of respecting the central bank's independence. [Full Article...]

US Says Retaliatory Tariffs Unjustified in WTO Complaint

US Says Retaliatory Tariffs Unjustified in WTO Complaint Figuring out China's next steps will be critical for the Chinese economy-and the future of the regime. The Office of the US Trade Representative (USTR) announced on Monday 16 July that it would be filing WTO cases against Canada, China, the EU, Mexico, and Turkey, after they imposed duties on various US imports following Washington's own tariffs on imported steel and aluminium. [Full Article...]

Oil prices rise; still set for third weekly drop on oversupply

Oil prices rise; still set for third weekly drop on oversupply Adeeb Al-Aama said in a statement that Saudi Arabia's crude oil exports in July would be roughly equal to June levels. While Saudi Arabia and Russian Federation pledged last month that OPEC would soon decide how to distribute a collective output boost of about 1 million barrels a day, the committee didn't give a recommendation on how they should share out the planned increase during ... [Full Article...]

European Union fines Google $5 billion

European Union fines Google $5 billion The European competition watchdog has fined Google of a record $5 billion (€4.3 billion) for abusing the dominance of its mobile operating system Android and forcing the 3 types of illegal restrictions on the use of Android, the governing body said Wednesday. [Full Article...]

Boris Johnson accuses PM May of 'dithering' on Brexit in resignation speech

Boris Johnson accuses PM May of 'dithering' on Brexit in resignation speech It has one theme: “It is not too late to save Brexit .”. I think it was an honest mistake made by the whips in fast-moving circumstances. It said that it objected to the amendment because it requires the government to take "all necessary steps" to join, while the government wants to join only if it can negotiate reasonable terms. [Full Article...]

Static inflation puts August rate rise in doubt

Static inflation puts August rate rise in doubt Moreover, the BoE has been repeatedly surprised over the years as the labour market has tightened but wages have risen less than expected - a pattern seen to a slightly lesser degree in most other advanced economies in recent years. The ONS report shows that the British economy has added 137,000 jobs, and that there are still 824,000 unfilled vacancies, but rates of pay are not increasing as rap... [Full Article...]

Blue Origin tests new motor during blastoff from Texas facility

Once the booster separated, the capsule's escape motor fired, lifting the spacecraft to an altitude of 389,846 feet. Its effectiveness is essential to ensuring the safety of any people who might ride aboard the capsule in the future. But if all goes well, she said , "it's going to be a sweet ride". The escape rocket motor is built into the crew capsule to provide a backup plan in case somethi... [Full Article...]

Papa John's is pulling founder's image from its marketing

Papa John's is pulling founder's image from its marketing He remains its largest shareholder, with more than 30% of company stock, and he is still on its board. Papa John's CEO Steve Richie issued an open letter on Sunday in light of the controversy surrounding comments made by founder John Schnatter . [Full Article...]

Papa John’s founder resigns as chairman

Papa John’s founder resigns as chairman Schnatter came under fire in May, accused of using the racial slur in a conference call in which he went into graphic detail describing violence against minorities. Papa John's stock dropped almost 5 percent by the close of the stock market Wednesday, the lowest it's been in almost two years. So the school can't simply keep the name in place and say it's no big deal because Schnatter is no longe... [Full Article...]

Japan and European Union sign trade agreement amid worries about Trump’s trade war

Japan and European Union sign trade agreement amid worries about Trump’s trade war EU products now face an average tariff of 1.6% when they arrive in Japan, while Japanese products face tariffs of 2.9% in the European Union , according to the World Trade Organization. The EU officials and Japan will also look to present a united front against U.S. tariffs on steel and aluminium, which Japan has called "deplorable". [Full Article...]

Elon Musk calls British cave rescuer a ‘pedo’

Elon Musk calls British cave rescuer a ‘pedo’ The submarine , I believe, was about 5-foot-6 long, rigid, so it wouldn't have gone around corners, gone around any obstacles. "It wouldn't have made it the first 50 meters", the British diver added. Musk called it a "kid-sized" sub, named Wild Boar-in honor of the soccer team-and posted pictures of the vessel being tested in a swimming pool in California. [Full Article...]

Papa John's founder Schnatter says stepping down was a 'mistake'

Papa John's founder Schnatter says stepping down was a 'mistake' Schnatter also detailed what he called an "extortion attempt" by The Laundry Service , which he said the company fired, to get more money out of Papa John's by claiming some of its employees were offended by Schnatter's comment . Papa John's founder is physically out at the pizza chain. The company has yet to comment to Schnatter's accusation, but continues to distance itself from its founder. [Full Article...]


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