Money

Xi calls for rejection of trade wars

Xi calls for rejection of trade wars Xi continued that emerging markets and developing countries already contribute 80 percent of global economic growth, and based on exchange rate calculation, these countries account for almost 40 percent of the global economic output. The 10th annual Brics summit will get underway in Johannesburg on Wednesday. Xi said China would take "active measures" to expand imports from Africa's most industr... [Full Article...]

Donald Trump calls on European Union to 'drop all tariffs'

Donald Trump calls on European Union to 'drop all tariffs' The same day that President Donald Trump gushed on Twitter that "tariffs are great ", his administration disclosed plans to pay billions in aid to United States farmers getting slammed by tariffs on their goods, a new report said Tuesday. [Full Article...]

Trump administration announces $12 billion in emergency aid to farmers

Trump administration announces $12 billion in emergency aid to farmers The aid will be financed through the USDA's Commodity Credit Corporation and will not require congressional approval, Perdue said. Perdue said more details about the aid will be announced by the beginning of September, which was the timeline he laid out last week. [Full Article...]

Former Fiat and Ferrari CEO Sergio Marchionne dies aged 66

On Saturday, FCA named Jeep division head Mike Manley as chief executive at the world's seventh-largest carmaker, saying the 54-year-old Briton would execute a new mid-term strategy that Marchionne had outlined in June. Marchionne has done what many thought impossible, most notably his huge gamble just over a decade ago when he set in motion the marriage between the then-ailing Fiat with bankr... [Full Article...]

Mega Millions ticket worth $1M sold in Delaware County

Mega Millions ticket worth $1M sold in Delaware County Tickets cost $2 with an optional "Megaplier" that costs $1 more and multiplies every prize except the jackpot. The prize amount surged by $10 million, from $512 million to $522 million, within a few hours this morning. The largest jackpot in US history was a $1.6 billion Powerball jackpot won in January 2016 by players in three states. That $142 million prize was the third winning jackpot this y... [Full Article...]

Republicans Fume at President Trump's $12 Billion Plan to Aid Farmers

Republicans Fume at President Trump's $12 Billion Plan to Aid Farmers Perdue added: "Unfortunately, America's hard-working agricultural producers have been treated unfairly by China's illegal trading practices and have taken a disproportionate hit when it comes illegal retaliatory tariffs". The news, however, lifted shares of farm equipment companies on the prospect that farmers will have more money to spend on tractors and other farm gear. [Full Article...]

'Tariffs are the greatest!': Trump reissues threat against U.S. trading partners

'Tariffs are the greatest!': Trump reissues threat against U.S. trading partners Sasse, a Republican , represents thousands of farmers in the Cornhusker State, and said that his constituents "don't want to be paid to lose" but "want to win by feeding the world". Trump said farmers "will be the biggest beneficiary" and he urged them to "just be a little patient". Soybean prices have plunged 18 per cent in the past two months. [Full Article...]

President Trump planning emergency aid to farmers affected by tariffs

President Trump planning emergency aid to farmers affected by tariffs USA officials recently issued a list of a range of Chinese imports Trump wants to impose new tariffs on including many food products as well as tobacco, coal, and chemicals. Stock markets rallied Tuesday, helped by Chinese stimulus plans and some strong corporate earnings, traders said. President Xi Jingping "cannot lose face with his own people by giving in to the United States , " Dollar said. [Full Article...]

4 types of Goldfish Crackers recalled due to possible salmonella

4 types of Goldfish Crackers recalled due to possible salmonella No illnesses have been reported, and no other Pepperidge Farm products in the US are subject to this recall . From the website of Pepperidge Farm. The same whey powder is also found in Ritz products. Questions can be directed to customer service by calling 800-679-1791. Campbell Company of Canada is recalling a series of cheddar-flavoured Goldfish crackers due to a risk of salmonella . [Full Article...]

North Korea said to be dismantling key parts of launch site

North Korea said to be dismantling key parts of launch site Asked whether the cost of future joint field activities would be similar to what was paid in the past, the Pentagon's DPAA Public Affairs Office said: "As of yet, there are no JFAs scheduled in North Korea so we can not speculate on what such activities may cost". [Full Article...]

Trump plans to give billions in aid to farmers hurt by tariffs

Trump plans to give billions in aid to farmers hurt by tariffs And American consumers are the ones who get hit with USA -imposed tariffs. In a Tuesday morning tweet, he called tariffs " the greatest ", saying every United States trade partner should either negotiate a "fair deal, or it gets hit with Tariffs". [Full Article...]

Google shrugs off $5.1 billion fine with another big quarter

Google shrugs off $5.1 billion fine with another big quarter But it's important to remember that simply paying the fine - if Google loses its appeal - doesn't make the problem go away. Last week, US President Donald Trump attacked the European Union (EU) for the fine slapped, and said: "The European Union just slapped a $ 5 billion fine on one of our great companies, Google", Trump tweeted. [Full Article...]

Google ad sales surge, propelling Alphabet revenue above expectations

Google ad sales surge, propelling Alphabet revenue above expectations Google-parent Alphabet announced surging profits, shrugging off the impact of a $ 5 billion fine by the European Union . A larger share of Google's ad dollars went to its own digital properties, including the search engine and video service YouTube , rather than outside websites that run its ads. [Full Article...]

Tesla pushes suppliers to return payments

Tesla pushes suppliers to return payments Tesla has asked some of its suppliers to return parts of payments that the carmaker has made since 2016 in an attempt to turn in a profit after years of burning cash, the Wall Street Journal reports , citing a memo sent to at least one supplier by a Tesla global supply manager. [Full Article...]

Winning numbers drawn in $433M Mega Millions game

Winning numbers drawn in $433M Mega Millions game Earlier this month, an IN couple received Mega Millions' third-highest prize, $ 536 million payday . Those tickets were sold in Florida , New Jersey and Oklahoma. That's the jackpot - $493 million actually - for the next Mega Millions drawing on Tuesday at 11 p.m. This year, 20-year-old Shane Missler of Port Richey won a $451 million prize on January 5, while Richard Wahl of Vernon, N.J., won ... [Full Article...]

Nigeria central bank asks lenders to bid for Chinese yuan: traders

Nigeria central bank asks lenders to bid for Chinese yuan: traders South Korea's Kospi added 0.3 percent and Hong Kong's Hang Seng gained 0.8 percent. The broad-based S&P 500 dropped 2.66 points (0.09 per cent) to close the week at 2,801.83, while the tech-rich Nasdaq Composite Index also fell 5.10 points (0.07 per cent) to 7,820.20. [Full Article...]

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...]


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