Money

Trump's China Trade War Just Escalated by $16 Billion

Trump's China Trade War Just Escalated by $16 Billion But there seems no solution at sight as the Trump administration prepares for tariffs of up to 25 per cent on an additional United States dollars 200 billion in Chinese products. "Additional trade war bickering could destroy the business models for many vehicles". China's exports soared in July, showing little impact from United States tariffs, as Washington finalises more duties on Chinese im... [Full Article...]

Snapchat loses users but gains big investment

Snapchat loses users but gains big investment Shares of Snap initially dropped, then jumped as high as $14.90 in extended trading following the report, after climbing less than 1 percent to $13.12 in NY. Evan Spiegel , Snap's CEO, blamed much of the poor results on an unpopular redesign that was released six months ago that was so unpopular social media influences like Kylie Jenner openly expressed their disappointment . [Full Article...]

Wall Street sees funding hurdle to Musk's plan to take Tesla private

Wall Street sees funding hurdle to Musk's plan to take Tesla private Musk said in a series of tweets that he had the funding and investor support. Tesla's board, a nine-member group that includes Musk's younger brother Kimbal, issued a belated statement Wednesday morning saying Musk had "opened a discussion" last week with the board about the benefits of taking Tesla private . [Full Article...]

Oil's near $69 as trade conflict counters latest supply risks

Oil's near $69 as trade conflict counters latest supply risks At 10:40 am Singapore time (0240 GMT), ICE October Brent crude futures were up 12 cents/b (0.16%) from Monday's settle at $73.87/b, while the NYMEX September light sweet crude contract was unchanged over the same period at $69.01/b. A trade spat between the U.S. and China has kept oil from rebounding from a seven per cent plunge last month. The US will also target business conducted by foreign... [Full Article...]

Doug Ford announces plan to bring $1 brews back to Ontario

Doug Ford announces plan to bring $1 brews back to Ontario The Liberals had cited the government's "social responsibility" mandate for the 25-cent increase in beer prices at the time. "Nobody is being forced to lower their prices and there will be no subsidies or tax handouts", Ford said at the event. [Full Article...]

Trump, China trade war, tariffs

Trump, China trade war, tariffs Beijing said that it would retaliate with import duties on thousands of American products, including aircraft and liquified natural gas, if President Trump moved forward with plans to target Chinese goods worth $200 billion with a 25 per cent levy. [Full Article...]

Elon Musk tweets he may take Tesla private

Elon Musk tweets he may take Tesla private Musk has also clashed repeatedly with critics, especially investors who have taken short positions on the stock, meaning they benefit when the price falls. "Being public means that there are large numbers of people who have the incentive to attack the company", he wrote . The tweets came after a report in the Financial Times that Saudi Arabia's sovereign wealth fund had taken a 3%-5% stake ... [Full Article...]

Dead fetus found by cleaners in American Airlines plane toilet

Dead fetus found by cleaners in American Airlines plane toilet But at around 6 a.m. Tuesday morning, the cleaning crew found the fetus hidden inside the toilet under sheets of toilet paper. A "high-ranking police source" told the outlet that cleaning employees discovered the baby on an American Airlines Airbus A321 plane, located in Hanger 5 at Terminal B. [Full Article...]

Elon Musk says he's considering taking Tesla private

The stock had been worth about $342 a share before Musk's tweet . Tesla did not respond to a request for comment immediately. Tesla's stock spiked Tuesday after Musk made the abrupt announcement in a terse tweet. But it was not clear how seriously to take the post, given Mr Musk's history on the social media service. The tweets have added to speculation about Tesla , which is spending ... [Full Article...]

Facebook accused of asking banks for financial information about its users

Facebook accused of asking banks for financial information about its users However, the banks seem to be approaching any partnerships very carefully after the recent Cambridge Analytica privacy scandal , and one large bank has reportedly already quit talks with Facebook. "We're not using this information beyond enabling these types of experiences - not for advertising or anything else". Wells Fargo declined to address the news. [Full Article...]

NASCAR chairman Brian France charged with DWI in the Hamptons

NASCAR chairman Brian France charged with DWI in the Hamptons First, here's the public story, as told by the Sag Harbor Village Police Department statement obtained by ESPN . France was driving a 2017 Lexus on Main Street in Sag Harbor at about 7:30 p.m. The National Associated for Stock Car Auto Racing can safely describe itself as a family business. France became CEO of Nascar in 2003. France's grandfather Bill France Sr. [Full Article...]

PepsiCo CEO Indra Nooyi announces she's stepping down

PepsiCo CEO Indra Nooyi announces she's stepping down The company announced that its Board of Directors has unanimously elected Ramon Laguarta to succeed Nooyi as Chief Executive Officer. Nooyi led Pepsi to become one of the most successful food and beverage companies in the world. Ramon Laguarta, who has been with the company for more than two decades, will take over as CEO in October, the company said Monday. Prior to that, Laguarta served in... [Full Article...]

FCA wants to block Mahindra from selling Jeep lookalike in U.S.

FCA wants to block Mahindra from selling Jeep lookalike in U.S. Fiat Chrysler Automobiles (FCA) has just filed a USA trade complaint in an effort to bar Indian automaker Mahindra from importing an off-road vehicle that looks eerily similar to its iconic Jeep model. It also states that that Roxor is "modelled after the original Willys Jeep ". The Indian auto giant cited a 2009 deal with Jeep's previous custodian Chrysler Group LLC - the SUV brand's parent... [Full Article...]

Donald Trump holds rally at OH high school before tight special election

Donald Trump holds rally at OH high school before tight special election Among the current and former professional athletes jumping to James' support in support of James on Saturday was "Mike", also known as National Basketball Association legend Michael Jordan, who said in a statement: "I support LeBron James". [Full Article...]

Oil prices drop as U.S. inventory rises

Oil prices drop as U.S. inventory rises Brent crude , the global benchmark, shed 2.2 per cent to $72. U.S. West Texas Intermediate ( WTI) crude futures were at $68.70 per barrel at 0847 GMT, down 26 cents from their last settlement. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.3 million barrels, EIA said. China said it would hit back if the United States takes further steps on trade. [Full Article...]

Timeline - Ryanair struggles with widespread strike action

Timeline - Ryanair struggles with widespread strike action With a fifth strike day looming that meeting appears to be off the table with Ryanair saying it would be "pointless". Ryanair pilots based in Ireland are staging their fourth one-day stoppage today, in a deepening row about terms and conditions. [Full Article...]

United States job creation slows as employers scrounge for labor

United States job creation slows as employers scrounge for labor The unemployment rate fell 0.1 percentage point to 3.9% in July, the US Department of Labor said, near to the 18-year low it reached in May. The economy expanded at a 4.1 per cent annual rate in the April-June quarter, the strongest showing in almost four years. [Full Article...]

Record Iranian oil imports for India in July

Record Iranian oil imports for India in July Efforts by the Trump administration to choke off Iran's oil exports are being thwarted by China , which has refused to stop buying crude in the face of reimposed U.S. Iran is also said to have started to offer India cargo insurance and tankers operated by Iranian companies as some Indian insurers have refused to cover oil cargoes from Iran in the face of the returning USA sanctions on Tehr... [Full Article...]

Europe battles wildfires, drought and scorching temperatures as heatwave drags on

Europe battles wildfires, drought and scorching temperatures as heatwave drags on Tyler Roys, a meteorologist from website AccuWeather, said it is possible that "between Friday and Sunday temperatures could reach 49 degrees centigrade in south-west Spain and in parts of southern Portugal ". "I've been here in the summer but it has never been this hot". Two died of heatstroke in the southeastern region of Murcia, Spanish radio Cadena Ser reported, while another man died in ... [Full Article...]

Conor McGregor-Khabib Nurmagomedov Booked for UFC 229

Conor McGregor-Khabib Nurmagomedov Booked for UFC 229 The well-known McGregor rival is lined up to face lightweight Dustin Poirer in a fight that will likely determine the next challenger for the victor of McGregor's bout. They're bad mouthing me, saying I turned down fights. McGregor (21-3) simultaneously held the featherweight and lightweight championship belts during his meteoric UFC career, but he hasn't fought in MMA since taking the 155-pound... [Full Article...]


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