Business


Trump threatens to slap tariffs on all $505bn of Chinese imports Trump threatens to slap tariffs on all $505bn of Chinese imports
- July 20, 2018

On Thursday, Trump told CNBC he was "not thrilled" about the Federal Reserve's interest-rate hikes, breaking with the long-standing precedent of American presidents not commenting on Fed policy out of respect for the central bank's independence from political influence. (more...)
Germany forces 1,050 Tesla owners to forgo electric auto bonus Germany forces 1,050 Tesla owners to forgo electric auto bonus
- July 20, 2018

Tesla in response to prosecution claims that the cars basic value of 60 thousand euros was offered not only to buy, but shipped to customers. Owners of the Tesla Model S in Germany will have to return to the Federal budget by €4 thousand, because they are too expensive. (more...)
European Union minister 'nervous' time running out for Brexit deal European Union minister 'nervous' time running out for Brexit deal
- July 20, 2018

With Brexit negotiations at an impasse largely because the British government is struggling to command a majority in parliament, there is growing concern that the country could end up crashing out of the European Union without a deal. After her 90-minute grilling at the liaison committee May faced a meeting of her backbenchers, winning support from a lot of them. Here's some of the bookies' favourites to replace her as leader of the Conservative Party. (more...)
Trump Says He's 'Not Thrilled' About US Interest Rate Hikes
- July 20, 2018

In an interview with CNBC , soybean farmer Bill Beam says that the price of soy futures has plummeted by 15 percent ever since China announced retaliatory tariffs against USA soy farmers earlier this year - and it's really cutting into his ability to make a living. (more...)
Microsoft profit climbs as cloud grows Microsoft profit climbs as cloud grows
- July 20, 2018

We're investing aggressively in content, community, and cloud services across every end-point to expand usage and deepen engagement with gamers. On a conference call with investors, Nadella attributed the strong results in part to a recent reorganization of the company's engineering teams to prioritize cloud computing and artificial intelligence over its legacy software products and Windows operating system. (more...)
I’m ready to put tariffs on every import from China, Trump warns
- July 20, 2018

It would hurt both countries, but China's "state-run government can do more to artificially prop up its economy" and a cratering US economy would nearly surely hurt Trump's presidency. Tariffs on another $16 billion of electronics and components are scheduled and the Trump administration has threatened to target another $200 billion of Chinese products with tariffs , a move that would raise prices for Americans and hurt China's economy. (more...)
Trump threatens tariffs on $500 billion of Chinese imports
- July 20, 2018

Mr. Trump responded that he is "ready to go to 500", referring to the approximate total value of Chinese goods exported to the US a year ago. China imports only $129.9 billion of United States goods, which leaves it little room for a tit-for-tat response. (more...)
Trump 'not happy' with Federal Reserve interest rates
- July 20, 2018

Eventually Burns relented, aiding Nixon but also helping to feed runaway inflation that dogged the USA economy for almost a decade. Rubin argued for that policy to be maintained in a New York Times op-ed piece previous year when the White House was mulling the choice of Yellen's successor. (more...)
Korean oil importers improvise vs U.S. re-imposition of sanctions on Iran Korean oil importers improvise vs U.S. re-imposition of sanctions on Iran
- July 20, 2018

Oil prices plunged after OPEC member Libya reopened its ports in the east and US Secretary of State Mike Pompeo said Washington would consider granting waivers to some of Iran's crude buyers. On Wednesday, the U.S. Energy Information Administration (EIA) reported that crude oil inventories increased 5.8 million barrels in the week-ending July 13, compared with analysts' expectations for a decrease of 3.6 million barrels. (more...)
Trump Slams Interest Rate Hikes, Ignoring Hands-Off Tradition Toward Fed
- July 20, 2018

Still, President Trump voiced concern that the higher rates and a stronger dollar may put the USA at a disadvantage while Fed counterparts in the Bank of Japan and the European Central Bank keep rates low, maintaining loose monetary policy. (more...)
Carney - no deal Brexit would prompt interest rate review Carney - no deal Brexit would prompt interest rate review
- July 19, 2018

From an oversight perspective, Bank of England official Sam Woods said last week that the central bank would have a hard time doing its job if the United Kingdom has no say in the rules enforced by the European Union for financial institutions. (more...)
Trump Blasts Powell’s Rate Hikes, Trespassing on Fed’s Independence
- July 19, 2018

He added, "No one in the administration has said anything to me that really gives me concern on this front". Even though he's frustrated, Trump said he's "letting them do what they feel is best". During the 2016 campaign, Trump was highly critical of the Fed and accused officials of keeping rates at ultra-low levels to favor Democrats. Still, President Trump voiced concern that the higher rates and a stronger dollar may put the U.S. (more...)
UK Employment At Record, Pay Growth Slows UK Employment At Record, Pay Growth Slows
- July 19, 2018

There were 32.4 million people in work during the period, according to the ONS. United Kingdom employment rose to a record high in the three months to end-May after the economy created jobs at a stronger than expected pace. Average earnings increased by 2.5% in the year to May, compared with 2.4% the previous month. Commenting on the data, Tara Sinclair, economist and senior fellow at the global job site Indeed, said Britain's job creation boom was running on empty but refuses to stall: ... (more...)
Kudlow Agrees With Trump's Trade Pressure on China Kudlow Agrees With Trump's Trade Pressure on China
- July 19, 2018

In fact, while some think that the booming post-recession economy is on its last legs, Kudlow sees the good times rolling for several more years - and perhaps getting even better. China could end USA tariffs "this afternoon by providing a more satisfactory approach" and taking steps that other countries are also calling for, he said. (more...)
Static inflation puts August rate rise in doubt Static inflation puts August rate rise in doubt
- July 19, 2018

Inflation remained at a one-year low in June and did not rise in line with expectations, raising questions over whether the Bank of England will lift interest rates next month. While it said it was normal for prices to drop at this time of year due to the start of the summer sales season, the ONS said the fall was the largest since 2012 and "the effect came mainly from men's clothing". (more...)
Morrisons hosts autism friendly shopping hour Morrisons hosts autism friendly shopping hour
- July 19, 2018

Daniel Cadey, from the National Autistic Society said: 'Around 700,000 people are on the autism spectrum in the UK. Supermarket Morrisons has announced that it will be rolling out a nationwide weekly "Quieter Hour" to 493 of its stores. Morrisons supermarket in Hunslet is to introduce a quieter hour for customers who would benefit from a calmer shopping trip. This means they see, hear and feel the world differently to other people, often in a more intense way, which can make shopping a real ... (more...)
Cau in Tunbridge Wells faces closure as Gaucho goes into administration Cau in Tunbridge Wells faces closure as Gaucho goes into administration
- July 19, 2018

Part of the group is the Cau chain which has a store in Tunbridge Wells. It adds to the jobs lost at Toys R Us and electronics specialist Maplin, which both collapsed earlier this year. On average, two restaurants a week closed over the year, including casual dining chains, upmarket restaurants and independent establishments, according to data from analysts CGA and corporate advisory firm AlixPartners. (more...)
Mastercard wins patent to speed up cryptocurrency transactions Mastercard wins patent to speed up cryptocurrency transactions
- July 19, 2018

In the patented document of the US Patent and Trademark Office, Mastercard stated that the pattern for using cryptocurrency was increasing by consumers. The transactions themselves would use the fiat currency's payment rails and security features, but each transaction would represent a cryptocurrency. (more...)
Elon Musk and Google promise not to build AI weapons Elon Musk and Google promise not to build AI weapons
- July 19, 2018

Thousands of the world's pre-eminent technology experts called for a global ban on the development of lethal autonomous weapons, warning they could become instruments of "violence and oppression". The agreement was coordinated by the Future of Life Institute (FLI), a Boston-based organization that supports research and initiatives to safeguard life, particularly the risk faced by advanced artificial intelligence. (more...)
IT glitch and fire alarm hit Heathrow IT glitch and fire alarm hit Heathrow
- July 19, 2018

More than 30 aircraft were diverted to other airports. "Utter chaos at LHR, no communication, no emergency processes and no clue", one passenger Dominic Hill said on Twitter. A number of British Airways flights were canceled or being delayed by several hours at Heathrow's Terminal 5, according to the airport's departure board. (more...)
European Union wants Airbnb to answer consumer complaints, adapt rules European Union wants Airbnb to answer consumer complaints, adapt rules
- July 19, 2018

Additional fees like random room cleaning charges need to be added in to the upfront cost displayed on the listing, and the rental aggregator needs to better indicate when hosts are private punters or professional landlords - as consumer protection rules are different in each case. (more...)
US Dollar reached at record high of Rs127.5 in the Interbank Market US Dollar reached at record high of Rs127.5 in the Interbank Market
- July 19, 2018

On July 13, dollar closed on Rs 121.54 in the interbank market. Since December 2017, a total increase of Rs 22 has been seen in the value of the U.S. dollar. Meanwhile, amid increasing debt level and depleting foreign exchange reserves, Pakistan's caretaker government has initiated the process of seeking a bailout from the International Monetary Fund (IMF) to enable the incoming government to move along quicker if it chooses to exercise the option. (more...)
Ryanair cancels 600 flights over cabin crew strike Ryanair cancels 600 flights over cabin crew strike
- July 19, 2018

Friday is the first of two 24-hour stoppages announced by the Irish Air Line Pilots' Association (Ialpa), which grounded 30 flights bound for the United Kingdom last week. "All affected customers have been contacted by email and SMS text message earlier today and we will re-accommodate or refund all of those whose flights have been disrupted". (more...)
US pastor denied release in latest trial hearing in Turkey US pastor denied release in latest trial hearing in Turkey
- July 19, 2018

Brunson's supporters said they had been hopeful he might be released after Wednesday's hearing amid signs of a recent thaw in the U.S. -Turkey relationship and after a chummy encounter between President Trump and Turkish President Recep Tayyip Erdogan at the North Atlantic Treaty Organisation meeting in Brussels last week. (more...)
Oil prices drop amid surprise jump in U.S. stockpiles Oil prices drop amid surprise jump in U.S. stockpiles
- July 19, 2018

Intercontinental Exchange plans to launch later this quarter a crude oil futures contract of physically delivered Permian West Texas Intermediate (WTI), deliverable in Houston, as the city has become the pricing center for USA oil as production and exports continue to grow. (more...)
Trump Administration Investigating Uranium Imports Under National Security Concerns Trump Administration Investigating Uranium Imports Under National Security Concerns
- July 19, 2018

He promised a "thorough, fair and transparent review". The "Section 232" probe was prompted by a petition filed by two US uranium mining companies, Ur-Energy Inc (URG.A) and Energy Fuels Inc (UUUU.A), complaining that subsidized foreign competitors have caused them to cut capacity and lay off workers. (more...)
Walmart and Microsoft team up in potential challenge to Amazon Walmart and Microsoft team up in potential challenge to Amazon
- July 18, 2018

Microsoft will be ensuring it all goes as smoothly as possible in a bid to extend the partnership well beyond the first five years. Back in 2016, Microsoft and GE announced partnership that brought GE's Predix platform for the Industrial Internet to Microsoft Azure. (more...)
Deutsche Bank Shares Soar as Profit Beats Forecasts Deutsche Bank Shares Soar as Profit Beats Forecasts
- July 18, 2018

However, analysts said that it was too early to judge whether the bank was on a sustainable path... The bank has struggled to cut costs and return to profit after three straight full-year losses. Bank executives had done everything they could to lower expectations in the last few weeks. The lender said group revenue will be about €6.6 billion, with the corporate and investment bank accounting for about €3.5 billion of that figure. (more...)
Aviation giants fly into Farnborough Airshow under Brexit cloud Aviation giants fly into Farnborough Airshow under Brexit cloud
- July 18, 2018

The quintessentially English atmosphere of the Royal International Air Tattoo, where straw-hatted VIPs watch fighters thunder over picturesque Cotswolds villages, gives way on Monday to the Farnborough Airshow, where the hard-nose business deals in the $800 billion aerospace and defence sector will be done. (more...)
Flynas 'Best Low-Cost Airline in the Middle East' anew Flynas 'Best Low-Cost Airline in the Middle East' anew
- July 18, 2018

Travellers across the world vote in the largest airline passenger satisfaction survey to decide the award winners. "A key "wow" factor for customers is consistency and this proved to a real asset for Singapore Airlines who scored highly across both product and service", said Skytrax spokesperson Edward Plaisted in a statement. (more...)

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