Business


Japan, EU eliminating most tariffs in trade deal Japan, EU eliminating most tariffs in trade deal
- July 18, 2018

Europe will benefit from Japanese machinery, tea and fish becoming cheaper on the Continent. President Trump called the European Union a trading "foe" last week, and on Tuesday European leaders replied by signing an economic partnership with Japan that will eliminate nearly all tariffs on bilateral goods. (more...)
After reprieve, May faces Brexit battle in parliament on trade After reprieve, May faces Brexit battle in parliament on trade
- July 18, 2018

The pressures building on the prime minister have come to a head in the last week, after the government finally published its strategy for leaving the European Union, which disappointed both sides of the divide. Brexiteers say this will keep Britain shackled powerless to the EU. Prime Minister Theresa May won approval from the lower of house of parliament on Tuesday for a law needed to let Britain pursue an independent trade policy once it leaves the European Union. (more...)
As Amazon Marks As Amazon Marks "Prime Day" With Price Cuts, Jeff Bezos's Wealth Soars
- July 18, 2018

Bloomberg noted that Gates, the Microsoft co-founder, would have a net worth of around $150 billion had he kept his assets instead of giving billions away to charity and his foundation. Bezos first breached the $100-billion mark last November just ahead of the holiday season in the US. "It's such a staggering number". A Federal Reserve report found the top 1 percent of United States families controlled 38.6 percent of wealth in the U.S. (more...)
In Face Of Protectionism, EU And Japan Sign Huge Open-Trade Deal In Face Of Protectionism, EU And Japan Sign Huge Open-Trade Deal
- July 17, 2018

European Council President Donald Tusk and European Commission President Jean-Claude Juncker, who travelled to Japan for the ceremonial signing of the deal, have both healed the deal, which covers a third of the global economy and more than 600 million people. (more...)
Papa John's founder alleges extortion, says he shouldn't have resigned Papa John's founder alleges extortion, says he shouldn't have resigned
- July 17, 2018

Schnatter opened up about his use of a racial slur in an interview with Louisville radio station WHAS on Friday. The letters from Schnatter and his attorney were first reported by The Wall Street Journal on Tuesday. The disgraced founder of Papa Johns decided that he should play the victim in his controversial situation. "They tried to extort us and we held firm and they took what I said and they ran to Forbes , and Forbes printed it". (more...)
DUP to vote against Theresa May's early holiday plan for MPs DUP to vote against Theresa May's early holiday plan for MPs
- July 17, 2018

On two of Monday's votes her majority was cut to three, suggesting that the leader will struggle to get Brexit legislation through a deeply divided parliament, which could possibly threaten the approval of any Brexit deal with the EU. The amendments undercut parts of May's Chequers agreement, a plan for Britain's exit from the European Union that some lawmakers said watered down Britain's future independence. (more...)
India, Iran looking at European assurances on United States sanctions India, Iran looking at European assurances on United States sanctions
- July 17, 2018

In May, US President Donald Trump announced that the US was pulling out of an global agreement reached with Iran in 2015-Joint Comprehensive Plan of Action (JCPOA)-under which the worldwide community would lift a series of sanctions imposed on Tehran in return for the Shia majority nation stopping the enrichment of uranium and allowing global inspectors to monitor its nuclear facilities. (more...)
Japan, EU ink free trade deal amid worries about United States protectionism
- July 17, 2018

Japan and the EU account for about a third of global GDP and their trade relationship has room to grow, according to EU officials, who expect the deal to boost the EU economy by 0.8% and Japan's by 0.3% over the long term. The EU and Japan say approval of the world's largest bilateral free trade deal shines a "light in the darkness" of global political uncertainty. The two parties also signed an agreement to allow data to flow between the European Union and Japan, creating "the world's largest ... (more...)
Thousand jobs to be axed as 80 more Poundworld stores close Thousand jobs to be axed as 80 more Poundworld stores close
- July 17, 2018

At least two potential deals have failed so far, including one from the chain's founder Chris Edwards, who was offering to buy around half of the stores. The company's 5,000 employees have been facing a bleak future since the company went into administration last month. The news comes as hopes for a rescue of the beleaguered retailer fade. (more...)
Global economic expansion has hit plateau, warns International Monetary Fund
- July 17, 2018

The fund also cut India's growth rate by a tenth of a point to 7.5 percent due to the negative effects of higher oil prices on domestic demand and faster-than-anticipated monetary policy tightening due to higher inflation. Obstfeld said: "The dollar has already appreciated broadly since April, and financial conditions facing emerging and frontier economies have become somewhat more restrictive". (more...)
International Monetary Fund warns: France, Germany and Italy will have the biggest economic slowdowns International Monetary Fund warns: France, Germany and Italy will have the biggest economic slowdowns
- July 17, 2018

The IMF Update is in line with the World Bank's Global Economics Prospects projections issued last month. But "India's growth remains quite robust into the future; it is down but growing very strongly", said Maurice Obstfeld, the director of the IMF's Research Department. (more...)
Netflix shares plummet after company reveals disappointing subscriber growth
- July 17, 2018

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. We were honored last week with the most Emmy nominations of any network. The Netflix logo is shown in this 2014 illustration photograph. This is a testament to the fantastic creators we work with across all forms of television. (more...)
Sub-Prime? Amazon website not working as Prime Day begins Sub-Prime? Amazon website not working as Prime Day begins
- July 17, 2018

The promotion features new product launches and deals. Some of the more competitive deals could sell out within minutes, and the app can help consumers keep tabs on upcoming deals, he said. Some of the heaviest discounts are available on brands like Biba, Marks & Spencer, GAP, Vero Moda, W, Van Heusen, and Pantaloons. "Many are shopping successfully - in the first hour of Prime Day in the US, customers have ordered more items compared to the first hour a year ago". (more...)
Apple Loses Three Senior Sales Executives in India Apple Loses Three Senior Sales Executives in India
- July 17, 2018

Apple's biggest smartphone rivals, both globally and in India, are Xiaomi and Samsung - manufacturers which have prospered in India thanks to sales of lower-tier hardware. While he acknowledged that Apple has an "extremely low" overall market share in India, Cook said the company is "putting a lot of energy" in the country. (more...)
CVS issues apology after Chicago manager calls cops on woman over coupon CVS issues apology after Chicago manager calls cops on woman over coupon
- July 17, 2018

In the video , Matson can be seen shaking as he talks to the police. The police later confirmed to Buzzfeed News that there were in fact two calls made from the CVS to report an "assault in progress". The City of Chicago's Board of Election Commissioners and its handwriting expert agreed with several of Sullivan's complaints after reviewing the pages - primarily that five of at least 13 sheets of signatures, save for two names, were written in Matson's own handwriting and listed ... (more...)
Netflix shares dive as subscriber growth falls short Netflix shares dive as subscriber growth falls short
- July 17, 2018

That's compared with analyst estimates that Netflix would have Q3 net adds of 947,000 in the US and 5.05 million internationally. "We had a strong but not stellar Q2, ending with 130 million memberships", Netflix said in a letter to shareholders. (more...)
Amazon Prime Day runs into snags swiftly Amazon Prime Day runs into snags swiftly
- July 17, 2018

Amazon.com has been experiencing some issues as Prime Day has kicked off in the United States. While CamelCamelCamel doesn't track Prime Day sales, per se, it does follow the price history of all products on Amazon, so you can see if that "bargain" really is one. (more...)
Ivanka Trump out of fashion at Canadian retailer Ivanka Trump out of fashion at Canadian retailer
- July 17, 2018

Hudson's Bay Company, announced Saturday that they will be phasing out Ivanka's products by the fall. Carolyn Handley, for example, told CNN that she got married in Trump-branded shoes. Hudson's Bay shoppers can no longer find the brand on the company's website, and by the fall it will be completely gone from its 90 stores, the department store company confirmed to The Post. (more...)
Amazon's website crashes as soon as Prime Day sale begins, users report Amazon's website crashes as soon as Prime Day sale begins, users report
- July 17, 2018

But it's not just Amazon offering blowout sales this week. There is no doubt in our minds that this deal will sell out, but hopefully Amazon will keep offering it at this price with delayed shipping until the end of the day on Tuesday. Amazon Fulfillment Center in Dupont Wash. As of now, Amazon's Prime Day event is currently celebrated in 17 countries, including India. The company ruffled feathers earlier this year when it upped the annual price of a Prime membership from $99 to $119. (more...)
China files complaint to WTO over Trump's $200bn tariff plan China files complaint to WTO over Trump's $200bn tariff plan
- July 16, 2018

They met amid mounting acrimony over Trump's tariff hikes on goods from China, Europe and other trading partners. China disputes the USA allegation, saying last week , "The tariffs are typical unilateralism, protectionism and trade bullying". (more...)
Elon Musk calls Thailand cave rescuer a 'pedo guy' Elon Musk calls Thailand cave rescuer a 'pedo guy'
- July 16, 2018

Diver Vernon Unsworth was instrumental in the rescue, and he said that Musk's attempt to build a small submarine for the rescue effort was a " PR stunt " that had no chance of working. Billionaire tech entrepreneur Elon Musk , the CEO of several high-profile American companies, broadcast to his 22 million social media followers on Sunday an unfounded and disparaging claim about an expert caver who criticized a miniature submarine he made. (more...)
John Schnatter: 'Papa John's Doesn't Want To Do Business With Roger Goodell' John Schnatter: 'Papa John's Doesn't Want To Do Business With Roger Goodell'
- July 16, 2018

A special committee of the board of directors met on Sunday to discuss its founder John Schnatter, four days after he admitted to using the N-word during a company conference call. That would start with retaining an independent expert to audit existing systems and polices "related to diversity and inclusion, supplier engagement and Papa John's culture". (more...)
Amazon Prime Day sale: Here are the top deals on smartphones Amazon Prime Day sale: Here are the top deals on smartphones
- July 16, 2018

ET until July 18th at 3 a.m. ET. Along with the already discounted products, Prime members can score an extra 20% off TVs , kitchen appliances , home improvement , baby products and much more. Pre-Load up your cart Also this weekend, you can begin prepping for Prime Day by placing items you want in your cart. That's $5 more for dog toys and treats that will have your pup barking for joy. (more...)
Elon Musks Calls British Cave Diver A 'Pedo' On Twitter Elon Musks Calls British Cave Diver A 'Pedo' On Twitter
- July 16, 2018

Vern Unsworth - who was on the global team of specialist cave divers at the scene - had told CNN that he thought the mini-submarine the Tesla chief sent to help with the rescue was a useless grab for attention. He also called it a PR stunt as it wouldn't be able to navigate the complex tunnels of the Tham Luang cave complex, adding Mr Musk was not needed and was asked to leave. (more...)
Apple unveils Dollars 300 mln China Clean Energy Fund Apple unveils Dollars 300 mln China Clean Energy Fund
- July 16, 2018

Apple is partnering with 10 of its global suppliers for the fund, whose investments aim to generate enough renewable energy to power the equivalent of almost one million homes in China. The tech giant announced in April that all of its retail stores, data centres and corporate offices have been completely powered by clean energy , according to CNN reports . (more...)
Trade Wars: China to import less soy first time since 2004 Trade Wars: China to import less soy first time since 2004
- July 16, 2018

China National Grain and Oils Information Center said China's 25 percent import tariff on United States soybeans will increase U.S. soybean import costs to between 700 yuan ($105) and 800 yuan per metric ton, which is around 300 yuan higher per ton than the same shipments from Brazil. (more...)
Flipkart, Amazon cut ad spend on Google as new rivalry brews Flipkart, Amazon cut ad spend on Google as new rivalry brews
- July 16, 2018

Some key phones are also going on flash sale during the big shopping days, with limited availability. Direct discount deals also include the Panasonic P95 at Rs 3,999, Honor 9i 4GB/64GB at Rs 14,999 (down from its regular price of Rs 15,999) and more. (more...)
Passengers Hospitalized After Ryanair Flight Loses Cabin Pressure Passengers Hospitalized After Ryanair Flight Loses Cabin Pressure
- July 16, 2018

Passengers of budget airline Ryanair have expressed anger over the way they were treated following an unscheduled landing in Germany that forced dozens to seek hospital treatment. The woman, who did not want to be named, said " it was really scary, there were three to four minutes (that felt like an hour) when the plane was falling fast and I thought we were done for ", she told The Irish Times . (more...)
Greek Court Approves Extradition of Suspected BTC-e Operator to France Greek Court Approves Extradition of Suspected BTC-e Operator to France
- July 16, 2018

The court in the northern city of Thessaloniki ruled in favor of France's request for Alexander Vinnik , a former bitcoin operator who was arrested in Greece a year ago on a USA -issued global warrant. Greece had been opposed to Macedonia's joining both the alliance and the European Union before the country changed its name for fear it might raise territorial claims on the historical Greek region of the same name. (more...)
Thai Cave Rescuer Says Elon Musk’s Mission Was a Thai Cave Rescuer Says Elon Musk’s Mission Was a "PR Stunt"
- July 16, 2018

The billionaire chief executive of SpaceX and Tesla Motors was apparently responding to criticism from Vernon Unsworth , who accused Musk of creating a miniature submarine to rescue the boys as a " PR stunt " during an interview with CNN . (more...)

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