Business


Trump Raises Proposed Chinese Tariffs to 25% Trump Raises Proposed Chinese Tariffs to 25%
- August 03, 2018

Yet another reason that forced Trump's hand is that as several banks have recently pointed out, the Yuan devaluation to date has effectively offset the adverse impact to Beijing from the $34 billion in tariffs enacted on Chinese goods, mainly machinery and components (to which China retaliated with tariffs on the same amount of USA exports, especially farm products). (more...)
Manufacturing growth tails off a bit in July: Markit Manufacturing growth tails off a bit in July: Markit
- August 03, 2018

Although modest, the latest improvement in the health of the manufacturing sector was the second strongest after June. The final Markit/Nikkei survey for Japan showed the manufacturing Purchasing Managers' Index (PMI) was a seasonally adjusted 52.3. (more...)
Apple becomes first trillion dollar United States company Apple becomes first trillion dollar United States company
- August 03, 2018

After launching the iPhone - arguably its most famous product - in 2007, Apple now churns out over 40 million of the devices every quarter , helping it rake in $254.63 billion in revenue past year. Other tech giants have approached $1 trillion in market cap, but still lag behind Apple . Steve Jobs and a few other people created Apple 42 years ago in Cupertino, California. (more...)
Turkey lira slumps to record lows over USA sanctions Turkey lira slumps to record lows over USA sanctions
- August 03, 2018

The Turkish foreign minister told his United States counterpart that threats won't work. But the case has resonated with the evangelical Christian community in the US. The Erdogan government has vowed to retaliate against the USA sanctions, announced Wednesday, but has not revealed what they will be. "There might be problems between countries and there will be also dissidence". (more...)
Bank of Japan Shift Propels Biggest Bond-Yield Jump in Two Years Bank of Japan Shift Propels Biggest Bond-Yield Jump in Two Years
- August 03, 2018

The pan-European FTSEurofirst 300 index .FTEU3 of leading regional shares closed up 0.38 percent while MSCI's gauge of stocks across the globe .MIWD00000PUS gained 0.27 percent. The U.S. currency was 0.01 percent higher at 111.125 yen following a loss of about 0.2 percent on Friday. The euro was flat at $1.1652, after gaining modestly on Friday. (more...)
Federal Reserve goes strong on USA economy
- August 03, 2018

President Donald Trump lashed out at the Fed last month, saying he wasn't "thrilled" it was raising rates . Most Fed officials in June projected three or four rate hikes for 2018, implying one or two more moves this year. The Committee expects that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective over ... (more...)
Google planning to launch a censored search engine in China is irresponsible Google planning to launch a censored search engine in China is irresponsible
- August 03, 2018

Google's latest search engine in China is being developed as an Android mobile app, and will screen out sites banned by government censors, such as Wikipedia and BBC News, according to the Intercept report . "For the world's biggest search engine to adopt such extreme measures would be a gross attack on freedom of information and internet freedom". The Intercept spoke to a Google whistleblower who said they had ethical concerns about the project . (more...)
Does the European Union have the appetite to swallow all the USA soybeans? Does the European Union have the appetite to swallow all the USA soybeans?
- August 03, 2018

It's the last item - direct payments to farmers - that will likely have the biggest price tag and is generating the biggest controversy . Its report says that the promise President Donald Trump extracted from the European Union to buy more soybeans from US farmers won't put much of a dent in the potential losses from a continuing trade war with China . (more...)
Apple becomes world's first trillion-dollar company Apple becomes world's first trillion-dollar company
- August 03, 2018

Let's keep in mind that Canada was established as a nation way back in 1867 and Apple has only been around since 1976 when co-founder Steve Jobs started running the company in his garage. Stock in the technology company reached the huge number during trading on Thursday. September 1997: Jobs returns as chief executive as the company teeters near bankruptcy. (more...)
Brent crude falls below $74 on USA inventories, OPEC supply Brent crude falls below $74 on USA inventories, OPEC supply
- August 02, 2018

It has rebounded to above $70 a barrel since April as the Opec cartel, which pumps a third of the world's crude, cut supplies to bring the market back into balance. Saudi Arabia had suspended oil shipments through the strait last week after attacks on tankers. "Equity markets are in positive territory as trade tensions between the U.S. (more...)
Chipotle closes restaurant after illnesses reported Chipotle closes restaurant after illnesses reported
- August 02, 2018

Anyone who experienced symptoms of sickness after eating at this Chipotle between July 26-30 is asked to report to the Delaware County Health Department. In early morning trading, Chipotle's stock hovered around $436 a share, down about 6 percent from Monday's closing price . On Tuesday, shares of the company were down more than 7 percent. (more...)
Faced with losses, MoviePass discount tix service hikes fee Faced with losses, MoviePass discount tix service hikes fee
- August 02, 2018

The change will take effect in the next 30 days. The company said it wanted to use about $5 million of the loan to pay its processors after they stopped clearing payments for MoviePass last week, which had shut down the service. Some users have also reported having trouble cancelling their subscriptions. Price Increase - HMNY will be increasing the price of MoviePass subscriptions from $9.95 per month to $14.95 per month. (more...)
OH offers sales tax holiday this weekend OH offers sales tax holiday this weekend
- August 02, 2018

Starting Friday, Florida's Back-to-School Sales Tax Holiday begins. Pinson said this weekend is good exposure for OH - a lot of surrounding states participate in the tax free holiday . He also encouraged people to look at the Chamber and see the options they have for buying and shopping locally, including a Chamber gift certificate. (more...)
Bank of England hikes interest rates to highest level since 2009 Bank of England hikes interest rates to highest level since 2009
- August 02, 2018

But he predicts a quarter-point rise every six months until rates reach 1.5% in 2020. Still, a sizable numbers of analysts and market participants believe the RBI could hold off and not hike interest rates, noting that the recovery is nascent and bank credit to corporates is not yet free flowing. (more...)
Apple is about to become the world's first trillion dollar company Apple is about to become the world's first trillion dollar company
- August 02, 2018

Its shares then hit a record high of $207.05, crowning a decade-long rise fueled by the ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications. Apple on Thursday became the first private-sector company in history to be worth $1 trillion, after its share price reached an all-time high above $207. (more...)
United States may slap China with higher tariffs, Beijing vows to retaliate
- August 02, 2018

Analysts at Danske Bank note that US Trade Representative Robert Lighthizer has now officially stated that the Trump administration is considering increasing the tariffs from 10% to 25% on UDS200bn worth of imported goods from China. Mr Geng said China's door to dialogue on the trade dispute is open, but that it had to be based on mutual respect and equality. "The U.S. unilaterally exerting pressure on China will get the opposite of what it wants", he said. (more...)
Brookfield Asset Management to Acquire Forest City Brookfield Asset Management to Acquire Forest City
- August 02, 2018

Trading volume, or volume, is the number of shares or contracts that indicates the overall activity of a security or market for a given period. It has been trading on front line as seeing to it recent volume. (NYSE:FCE-A) is 1.1% while the ROI of Foot Locker, Inc. Forest City also has five large-scale development projects in the NY metro area, San Francisco and Washington, D.C. (more...)
US Fed highlights strong economy, leaves rate unchanged
- August 02, 2018

Federal Reserve Chairman Jerome Powell is trying to nurture the second longest USA expansion on record by slowly reducing the amount of support that monetary policy provides to growth. The central bank's preferred measure of inflation - the personal consumption expenditures (PCE) price index excluding food and energy components - increased at a 2.0 percent pace in the second quarter. (more...)
Google may help China censor sites
- August 02, 2018

Google CEO Sundar Pichai . Google has more than 88,000 employees. "How enabling mass politically-directed censorship of (AI-enabled) search isn't a violation of Article 19 & in turn a violation of Google's pledge not to build tech that "contravenes widely accepted principles of.human rights" is a mystery indeed". (more...)
China Says U.S. Trade Pressure Won’t Work
- August 02, 2018

President Donald Trump is weighing the idea of increasing from 10 percent to 25 percent the tariffs imposed on some $200 billion of Chinese products, mainly consumer goods, the Office of the US Trade Representative reported Wednesday . But Chinese Foreign Ministry spokesman Geng Shuang reiterated at a regular news briefing that the United States' efforts at "blackmail" would fail. The administration had previously imposed 25 percent tariffs on $34 billion worth of Chinese goods on July 6 ... (more...)
What the interest rates increase means for you
- August 02, 2018

The projected inflation rate is above its targeted comfort level of 4 per cent. Inflation is now expected to rise to 2.5 per cent in the next quarter before falling to 2.2 per cent in 2019, and 2.1 per cent a year later - all a percentage point above previous forecasts . (more...)
Bank of England hikes interest rates
- August 02, 2018

The Bank's latest quarterly health check on the economy is nearly identical to the one it produced in May. Hence, the United Kingdom is getting May's scheduled rate rise with a three-month delay. It was also expected that despite the rate hike, the RBI could keep its policy stance "neutral". "Furthermore, inflation remains above target and the labour market looks relatively tight with the MPC considering that there is little slack left in the economy". (more...)
United Kingdom demand for British-built cars drops by nearly half in June United Kingdom demand for British-built cars drops by nearly half in June
- August 02, 2018

The SMMT report noted: "Although UK Automotive now exports more than eight out of every 10 cars it builds to more than 160 countries worldwide, it is also a major importer". The SMMT has repeatedly called for continued membership of the single market and the customs union, warning that prolonged uncertainty puts thousands of jobs at risk. (more...)
High tariffs cited as Tyson cuts earnings outlook for the year High tariffs cited as Tyson cuts earnings outlook for the year
- August 02, 2018

The Tyson Foods , Inc. has Relative Strength Index (RSI 14) of 22.13 along with Average True Range (ATR 14) of 1.09. A stock with a beta more than 1 means high volatile and less than 1 means low volatile. In looking the SMA 200, we see that the stock has seen an -13.38%.The Company's net profit margin for the 12-months at 7%. MMM demonstrated a yearly price gain of 3.68%, while its year-to-date (YTD) price performance has been down -11.87%. (more...)
Home, auto loans to cost more, banks hike rates before RBI
- August 02, 2018

India's annual consumer inflation hit 5 percent in June, the eighth straight month it topped the RBI's medium-term 4 percent target. Adding the Bank's two per cent inflation target, the analysis implies that bank rate will only return to between two and three per cent in the longer term, rather than the five per cent seen before the crisis. (more...)
Huawei pips Apple to become world's second biggest smartphone maker Huawei pips Apple to become world's second biggest smartphone maker
- August 02, 2018

Not only that, but Counterpoint reports that during the second quarter of this year OnePlus shipped more premium phones than Samsung for the first time in its history. In the first half of Q2, Huawei's P20 and P0 Pro flagships were in strong demand in the $600 - $800 price bracket. Apple . slipped to No. 3, shipping 41 million iPhone units with a growth rate of 1 percent. (more...)
Dixons Carphone data attack hit 16m records, far higher than first thought Dixons Carphone data attack hit 16m records, far higher than first thought
- August 02, 2018

Dixons Carphone said an additional 1.2 million personal data records were hacked at the time. An investigation by the firm now believes that personal information including names, addresses and email addresses for as many as 10m customers may have been accessed past year, in addition to card details for 5.9m payment cards. (more...)
McDonald's mistakenly serves pregnant mom cleaning solution instead of coffee McDonald's mistakenly serves pregnant mom cleaning solution instead of coffee
- August 02, 2018

Sarah Douglas , a mother of two, was on her way to a baseball tournament with her son when she made a decision to stop at the facility for a coffee, The Star reported. May cause an allergic skin reaction. "She actually went around the corner to look at the latte machine as well and noticed that there was two hoses coming out of the machine and going into this chemical", she said. (more...)
Company issues urgent recall of CONDOMS over fears they could split Company issues urgent recall of CONDOMS over fears they could split
- August 02, 2018

The Health Products Regulatory Authority have issued the warning. A spokesperson said: "This is reflected in our rigorous quality standards". Customers are being advised to check the bottom of the outer packaging and foil wrapping of the individual condoms to see to see if the batch numbers matched those listed on the field safety notice issued this evening. (more...)
China warns of retaliation if USA takes more trade steps
- August 02, 2018

The higher tariff rate, if implemented, would apply to a list of goods valued at $US200bn identified by the USTR last month as a response to China's retaliatory tariffs on an initial round of U.S. The public comment period on the US tariffs aimed at $US200 billion ends on August 30 after public hearings August 20-23, according to the US Trade Representative's office. (more...)

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