Business


China Places Tariffs On Recyclables, Dealing Another Blow To Oregon China Places Tariffs On Recyclables, Dealing Another Blow To Oregon
- August 11, 2018

LNG is among 5207 USA commodity items now being hit with an additional tariff, according to a statement issued by China's State Council Customs Tariff Commission last Friday. China says it can weather the storm and official data on Wednesday backed up that claim. While informal discussions are being held, there seems little prospect of top-level negotiations to de-escalate the conflict. (more...)
Turkey currency crashes as Trump doubles metals tariffs Turkey currency crashes as Trump doubles metals tariffs
- August 11, 2018

BBVA, which reported a lowly CET 1 ratio of 10.8 percent at the end of the first half, also said a 10 percent slump in the lira would shave 2 basis points off its core capital. But experts argue that the central bank should instead raise interest rates to ease inflation and to support the currency. Erdogan has frequently blamed an "interest rate lobby" and Western credit ratings agencies for trying to bring down Turkey's economy. (more...)
Plane takes off without authorization from Seattle airport, Alaska Airlines confirms Plane takes off without authorization from Seattle airport, Alaska Airlines confirms
- August 11, 2018

The Pierce County Sheriff's Office tweeted that the pilot was a 29-year-old airline mechanic who was suicidal, and that he acted alone. There were no passengers aboard. In a statement, Alaska Airlines said the twin-propeller passenger plane was being piloted by "an airline employee", who took the plane without permission. (more...)
Monsanto is found guilty in Roundup trial Monsanto is found guilty in Roundup trial
- August 11, 2018

As Robert F. Kennedy Jr., a lawyer representing Johnson in the case, declared on Twitter, the court "awarded 200 million in punitive damages against Monsanto for 'acting with malice and oppression'". He sprayed large quantities from a 189 litre tank attached to a truck, and during gusty winds the product would cover his face, one of his attorneys, Brent Wisner, said. (more...)
Why Turkey’s currency is plunging and what it means Why Turkey’s currency is plunging and what it means
- August 11, 2018

Turkey's economic woes worsened after US President Donald Trump escalated a feud with Turkey by doubling tariffs on metals imports. He urged Turkish citizens to immediately exchange their gold and dollars for lira . It was reported that Erdogan's son-in-law and Turkey's new finance minister, Berat Albayrak , were set to unveil a "new economic model" on Friday, but the announcement did little to reassure investors. (more...)
Turkey Crisis Highlights a Better Way to Buy Emerging-Market Debt Turkey Crisis Highlights a Better Way to Buy Emerging-Market Debt
- August 11, 2018

Aksoy said sanctions would only damage the relationship which has withstood the trials of time. Trump and Vice President Mike Pence threatened on July 26 to impose sanctions on Turkey if the pastor is not set free and allowed to return to the United States. (more...)
Erdogan calls on Turks to buy lira 'in response to economic war'
- August 11, 2018

A 20 percent fall in exports would only reduce GDP by 0.1 percentage point or less per year in the 19 countries that use the euro currency. Erdogan added that Turkey was not afraid of "threats" and said it had many alternative sources of economic cooperation "from Iran, to Russian Federation, to China, and some European countries". (more...)
US SEC Delays Decision Concerning Bitcoin ETF Until September 30 US SEC Delays Decision Concerning Bitcoin ETF Until September 30
- August 10, 2018

The ramifications of the SEC delaying a decision that would help cryptocurrency are felt for a second day, as prices tumble... On Thursday morning, the cryptocurrency market saw a nice influx of buying volume, with Bitcoin quickly recovering by 3% and altcoins following closely behind. (more...)
Bitcoin & Ripple Technical Analysis - Charts Point to Further Losses
- August 10, 2018

EOS price a week ago was $7.30 but it kept declining and now trades at $6.08. At the time of writing, ETH/USD traded 1.05 percent up at $409.20, hitting day's low of 402.11. Coinmarketcap reports that the platform has grown by 16% in 24 hour period. The latest mini-rally in Bitcoin has yet again been thwarted by sellers, with the price nearing its recent low as confidence in the cryptocurrency marker remains at a low ebb. (more...)
Trump doubles tariffs on steel, aluminum from Turkey Trump doubles tariffs on steel, aluminum from Turkey
- August 10, 2018

A Kremlin source said they talked about projects such as energy, just hours after Donald Trump weighed in on the economic crisis by declaring more Turkish sanctions via Twitter . Last week, Mr Erdogan urged Turks to exchange gold and other currency for lira in a effort to boost its value. The lira dropped as much as 20% against the dollar, its steepest daily drop since at least 2001. (more...)
Ryanair pilot strike grounds 400 flights across Europe Ryanair pilot strike grounds 400 flights across Europe
- August 10, 2018

A total of around 400 flights Europewide have been cancelled due to the strike action, AFP reported - equating to around 55,000 passengers. Ryanair passengers claimed they faced chaos during a 24-hour strike which left British travellers stranded across Europe. (more...)
Erdogan says attempts to exert economic pressure on Turkey futile Erdogan says attempts to exert economic pressure on Turkey futile
- August 10, 2018

However, a defiant Erdogan brushed aside concerns, telling a roaring crowd of Turks in the Black Sea city of Rize not to worry. The currency is under pressure on multiple fronts, with no progress reported in a dispute with the U.S. The data is expected to show inflation increased 0.2 percent, after rising 0.1 percent in June. Spot gold XAU= fell 0.3 percent to trade at $1,207.15 per ounce. (more...)
USA imposes sanctions on Russian Federation over Skripal poisonings in Salisbury USA imposes sanctions on Russian Federation over Skripal poisonings in Salisbury
- August 10, 2018

The U.S. State Department said Wednesday that Congress had been notified and that the new sanctions would go into effect on August 22. "In our view, these and earlier restrictions are absolutely unlawful and don't conform to global law", Peskov said. (more...)
Could Canada’s ‘human rights first’ foreign policy cost billions? Could Canada’s ‘human rights first’ foreign policy cost billions?
- August 10, 2018

The Saudi government plans to move them immediately to other schools in countries like the USA and United Kingdom. Along with throwing out the Canadian ambassador and suspending air service between the two countries, Saudi Arabia is demanding thousands of its students leave Canada for new locations. (more...)
New York City Council votes to limit number of Uber, Lyft vehicles New York City Council votes to limit number of Uber, Lyft vehicles
- August 09, 2018

Mayor Bill de Blasio released the following statement, saying he is prepared to sign the bill into law: "Our city is directly confronting a crisis that is driving working New Yorkers into poverty and our streets into gridlock". The City Council is expected to vote today on a proposed cap on ride-share vehicles. 'Uber as you know it is going to be Uber as you know it, ' Cumbo said. (more...)
China to hit US with tariffs on US imports worth $16bn China to hit US with tariffs on US imports worth $16bn
- August 09, 2018

While trade tensions are being ratcheting up, China's trade surplus with the USA stood at US$28.1 billion in July, close to the record-high in June, data released Wednesday showed. But China exports far more to the United States than the other way round, making it more challenging for the country to hit back against USA tariffs. (more...)
Chinese Exports Accelerate As US Prepares New Tariffs In Heated Row
- August 08, 2018

The dispute has continued to escalate as the sides exchange threats, and Trump last week threatened to jack up the tariff rate on the next $200 billion in Chinese imports it plans to target to 25 percent, from the planned 10 percent. "The risk is that the U.S. administration's gamble to strong-arm China into giving into all U.S. demands without some compromise only leads to successive rounds of higher and higher tariffs". (more...)
Tesla shares dip after Elon Musk proposes going private Tesla shares dip after Elon Musk proposes going private
- August 08, 2018

In its statement, the board said the company's chief executive had "addressed the funding for this to occur". The board had "met several times over the last week" to discuss going private, the statement said. Most analysts were skeptical, but some said a deal could materialize if Musk succeeded in lining up the right funding. JPMorgan analyst Ryan Brinkman said he gave only a 50 per cent probability that Tesla would go private. (more...)
Oil prices steady on falling U.S. crude stocks, Iran sanctions Oil prices steady on falling U.S. crude stocks, Iran sanctions
- August 08, 2018

According to Bloomberg , Beijing has declined a request by US envoys to stop importing crude oil from Iran. India is the second-largest buyer of Iranian oil after China . Venezuela is tumbling toward an economic collapse. The company will receive one very large crude carrier (VLCC) of U.S. oil every month in November, December and January. (more...)
Snapchat drops daily users for first time after controversial redesign Snapchat drops daily users for first time after controversial redesign
- August 08, 2018

The Los Angeles-area company beat Wall Street's expectations for both revenue and losses, and its share price surged by more than 13% on the news in after-hours trading to almost $15, before briefly stabilizing around $14 - an overall gain of about 6%. (more...)
Elon Musk Considering Taking Tesla Private, Has Already Secured Funding Elon Musk Considering Taking Tesla Private, Has Already Secured Funding
- August 08, 2018

In the email, Musk reasoned being a public company means "there are large numbers of people who have the incentive to attack the company". Factoring in $US8.8 billion ($11.9 billion) in debt, Musk's ganja-friendly target price to go private would value the company at around $US80 billion ($107.8 billion ). (more...)
Unveiling of provincial buck a beer scheme expected today Unveiling of provincial buck a beer scheme expected today
- August 07, 2018

Speaking at a brewery in Picton, Ont., on Tuesday, the premier said the program, which was one of his promises during the spring election campaign, will not cost taxpayers anything. Ford says the buck a beer will allow for more competition in the market. Ontario previously had buck-a-bottle beer but the Liberal government quietly hiked the minimum price in 2008, citing its "social responsibility" mandate. (more...)
Dead fetus found on plane at LaGuardia Airport Dead fetus found on plane at LaGuardia Airport
- August 07, 2018

The fetus was between three to six months along. The flight, AA-1942, left the Queen City just before 9 p.m. and arrived at LaGuardia's Terminal B at 10:44 p.m. The Queens County District Attorney is looking into the matter. The plane was parked by the American Airlines hangar - not at a gate - when the fetus was discovered. (more...)
Musk Says in Tweet He Is Considering Taking Tesla Private Musk Says in Tweet He Is Considering Taking Tesla Private
- August 07, 2018

Tesla's stock spiked Tuesday after Musk made the abrupt announcement in a terse tweet . Tesla shares are up more than 5 percent at $360.64. He implied the funding values the company at $420 a share. Tesla did not respond to a request for comment immediately. Mr. Musk has a history of joking on Twitter and sending erratic tweets. "If true, this would be an incredible and surprising development". (more...)
Olas global march continues as it eyes United Kingdom entry within a month Olas global march continues as it eyes United Kingdom entry within a month
- August 07, 2018

Ola, backed by Japan's Softbank Group, has obtained licences to begin operations in South Wales in September, as well as Greater Manchester, and plans to expand country-wide by the end of the year, it said in a statement . Ola may also face local competition in the form of Uber's closest U.S. rival, Lyft, which has been in talks to start services in London . Ola will be offering passengers the option of private hired vehicles and black cabs on its platform. (more...)
Nutella looking for 60 taste testers to work in Italy Nutella looking for 60 taste testers to work in Italy
- August 07, 2018

Ferrero , the company who owns the signature hazelnut spread, is looking for people to try their delicious product. According to The Local , it's the first time the company is specifically looking for non-professionals. The training is created to sharpen the recruits' senses of taste and smell, as well as teach them the correct terminology to describe their reactions, The Local reported. (more...)
Facebook Asks Major US Banks To Share Customer Details Facebook Asks Major US Banks To Share Customer Details
- August 07, 2018

One large bank has reportedly pulled away from the discussion due to privacy concerns. At a time when Facebook's data management is under intense scrutiny, this news is unlikely to be greeted enthusiastically by customers of those banks called out in the story - JPMorgan Chase , Wells Fargo , Citigroup , and U.S. (more...)
Chinese state media compares Trump's trade policies to 'extortion' Chinese state media compares Trump's trade policies to 'extortion'
- August 06, 2018

President Donald Trump this week ordered officials to consider imposing a 25 per cent tax on US$200 billion worth of imported Chinese goods, up from an initial 10 per cent rate. The USDA estimates that soybean exports will plunge 11%in the year ahead because of the loss of the Chinese market. "Because of tariffs we will be able to start paying down large amounts of the US$21 trillion in debt that has been accumulated, much by the Obama administration, while at the same time reducing ... (more...)
NASCAR CEO Brian France Arrested for DUI and Oxycodone Possession NASCAR CEO Brian France Arrested for DUI and Oxycodone Possession
- August 06, 2018

First, here's the public story, as told by the Sag Harbor Village Police Department statement obtained by ESPN . France was arrested, held overnight and released after he was arraigned on Monday morning, police said. The president's relationship with the company goes back some years, to a proposed Trump Motor Speedway in Bridgeport, Connecticut . The France family is racing royalty - Brian's grandfather Bill France Sr. (more...)
5 killed in plane crash near South Coast Plaza shopping center 5 killed in plane crash near South Coast Plaza shopping center
- August 06, 2018

The Orange County Fire Department said the plane's engine cut out before it could make it to the airport. The incident took place around 12:30 pm local time , when malls and stores typically bustle with customers. Federal Aviation Administration spokeswoman Arlene Salac said the pilot of the twin-engine Cessna 414 declared an emergency before crashing. The plane crashed in the parking lot of a Staples office supply store in the 3800 block of Bristol Street, according to Stephen ... (more...)

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