Business


China slams 'ridiculous' U.S. election meddling charges, East Asia News & Top Stories China slams 'ridiculous' U.S. election meddling charges, East Asia News & Top Stories
- October 05, 2018

China has mounted an unprecedented effort to not only meddle American elections, but also shape the public opinion of the country, which makes pale the efforts of other countries through lobbying, the White House alleged as it fielded the vice president to issue a strong warning to China and make Americans aware of the real Chinese intentions. (more...)
US Payrolls and Wages Cool While Jobless Rate Hits 48-Year Low US Payrolls and Wages Cool While Jobless Rate Hits 48-Year Low
- October 05, 2018

Ahead of the report, Spencer Hill, an economist at Goldman Sachs, said that Hurricane Florence , which impacted the Carolinas in mid-September, were likely to weigh on Friday's headline job gains, and a 17,000 job drop in the leisure & hospitality industry shows signs of an impact from the storm. (more...)
Amazon’s minimum wage boost will strip hourly employees of bonuses Amazon’s minimum wage boost will strip hourly employees of bonuses
- October 05, 2018

According to Bloomberg , "Warehouse workers for the e-commerce giant in the US were eligible in the past for monthly bonuses that could total hundreds of dollars per month as well as stock awards, said two people familiar with Amazon's pay policies". (more...)
US Fed's Powell: Global growth positive but under pressure US Fed's Powell: Global growth positive but under pressure
- October 05, 2018

Powell spoke as debate among economic analysts and investors has begun turning toward a central question: Will the current low rate of unemployment inevitably doom a near decade-long expansion by driving inflation to levels the Fed will have to suppress with faster and higher than expected rate increases? "This forecast is not too good to be true", Powell told the National Associate for Business Economics, but instead "is testament to the fact that we remain in extraordinary times". (more...)
Toyota recalls millions of Prius and Auris hybrids over stalling risk Toyota recalls millions of Prius and Auris hybrids over stalling risk
- October 05, 2018

See the chart below. The recall applies to 1.25 million vehicles in Japan, 807,000 in the USA, 290,000 in Europe and 3,000 in China, with the rest across the globe. The Prius and Prius V vehicles may contain a software fault in their ECU. The vehicles in the current recall had been called back before, in February 2014 and July 2015, for a related issue, Jault said. (more...)
US, Canada reach agreement on new NAFTA, renamed USMCA US, Canada reach agreement on new NAFTA, renamed USMCA
- October 05, 2018

In a copy of the letter Trump sent to the Speaker of the House of Representatives and to the President of the Senate, Trump said he meant to initiate trade negotiations with both countries, and enter the agreement by the end of November 2018, saying that "dramatic progress" has been made related to several areas. (more...)
Aston Martin skids on market debut Aston Martin skids on market debut
- October 05, 2018

The shares were priced to open at GBP19 a share, valuing the premium sportscar maker at a hefty GBP4.4bn market capitalisation, but have since dipped below GBP18. The flotation follows a sale of shares by its main owners, Kuwaiti and Italian private equity groups. In the medium-term it aims to build almost 10,000 in the 2020 calendar year. (more...)
Mike Pence says 'no doubt' China is meddling in US elections
- October 05, 2018

While Pence declared that behavior of Russian Federation " pales in comparison to what China is doing across this country", he only cited vague internal declarations by US intelligence agencies and then pointed to an advertisement, purchased by the state-run China Daily newspaper, that was placed in the Des Moines Register that criticized the Trump administration's trade war tactics. (more...)
Weedcraft Inc - Announcement Trailer Weedcraft Inc - Announcement Trailer
- October 05, 2018

When you return home, you learn that your brother, Clyde, had been growing marijuana for your father in your basement, and the two of you partner up to turn his supply into a business. For instance, you'll be able to choose how to expand the business, and manage risks such as police busts or politicians looking for an angle. Weedcraft appears to take place in a 3D cityscape, where you can grow your independent drug empire from a garage greenhouse into a citywide network. (more...)
Fuel Duty freeze a relief but presents a missed opportunity, says FTA Fuel Duty freeze a relief but presents a missed opportunity, says FTA
- October 05, 2018

While the freeze is great news , the government has missed an opportunity to further boost economic activity by cutting cut fuel duty. Christopher Snelling, Head of UK Policy at FTA explains: "UK logistics operators already pay one of the highest rates of fuel duty in Europe, so we're pleased the government has chose to continue the freeze for another year". (more...)
VP Mike Pence LASHES OUT: China 'Wants A Different American President' VP Mike Pence LASHES OUT: China 'Wants A Different American President'
- October 05, 2018

The vice president cited United States intelligence agencies but offered no evidence to back up his claims, which are likely to inflame relations between Washington and Beijing, already at their lowest point in years thanks to the burgeoning trade war, policy differences and U.S. (more...)
Ripple's xRapid Technology Goes Live Ripple's xRapid Technology Goes Live
- October 04, 2018

On the other hand, Catalyst Corporate Federal Credit Union will use xRapid to facilitate its cross-border payments service. It sources liquidity from XRP on exchanges around the world. Institutions using xRapid will only need to purchase XRP from market makers trading on digital asset exchanges to complete worldwide transfers. He further added: " Here's something where we're finding a ton of value and providing a ton of value to our customers using digital assets to move money more ... (more...)
Four states announce additional cut in fuel prices after Centre’s move Four states announce additional cut in fuel prices after Centre’s move
- October 04, 2018

The minister has appealed to the states to match the cut, so prices will come down by Rs 5. It is only the global factors, primarily rising prices of crude and domestic policy and other measures like the interest rate hike by the U.S., which have affected India, Jaitley said adding domestic indicators were strong and stable. (more...)
US, Canada and Mexico praise 'historic' NAFTA replacement deal US, Canada and Mexico praise 'historic' NAFTA replacement deal
- October 04, 2018

US President Donald Trump's new trade deal with Canada and Mexico saw stock markets rally and traders across North America breathe sighs of relief this week, but the news was received more warily in China. "It's a privilege for China to do business with us. Political deadlines are often fuzzy but Canada and the United States appear to be working towards some major compromises and a NAFTA deal. (more...)
Saudi dissident Jamal Khashoggi feared kidnapped while visiting consulate in Turkey Saudi dissident Jamal Khashoggi feared kidnapped while visiting consulate in Turkey
- October 04, 2018

Jamal Khashoggi, who writes opinion pieces for The Washington Post and has grown critical of Crown Prince Mohammed bin Salman , entered the consulate at 1pm on Tuesday for an appointment to sign marriage paperwork. A second stint saw him stay at the helm of the media outlet for almost three years before being fired again in 2010. He launched a satellite news channel, Al-Arab, from Bahrain in 2015 with the backing of Talal, but the channel stayed on the air for less than 11 hours before ... (more...)
Rupee hits all-time low of 73.42 against dollar, recovers after RBI intervention Rupee hits all-time low of 73.42 against dollar, recovers after RBI intervention
- October 04, 2018

At 0335 GMT, the rupee was trading at 73.30. That compares with the rupee's latest record low of 72.9750 reached on September 18, and is 1.5 percent weaker than its close of 72.9125 on Monday. Oil prices were firm on Wednesday on expectations of a tighter market once United States sanctions start targeting Iran's petroleum industry from next month, although a strong dollar and rising U.S. (more...)
USMCA Name Has Trump Written All Over It USMCA Name Has Trump Written All Over It
- October 03, 2018

During a Rose Garden address Monday , the president said the United States-Mexico-Canada Agreement ( USMCA ) is the largest and most historic trade deal ever made. Polls show that Trudeau is still personally popular in Quebec and that the Liberals easily would win a federal election if one were held now. With what they buy from us, Canada is the biggest export market for 36 states. (more...)
I told Saudi king he wouldn't last without U.S. support: Donald Trump I told Saudi king he wouldn't last without U.S. support: Donald Trump
- October 03, 2018

Saudi Arabia is the world's top oil exporter and the de facto leader of OPEC. Saudi Arabia will pump 10.7 million bpd of oil in October and will slightly raise this level in November, Saudi Energy Minister Khalid al-Falih said at an energy forum in Moscow on Wednesday. (more...)
US, Canada, Mexico trade deal, USMCA, NAFTA: Congress could block US, Canada, Mexico trade deal, USMCA, NAFTA: Congress could block
- October 03, 2018

United States president Donald Trump on Monday announced a new trade agreement with neighbouring Mexico and Canada and declared the agreement to be "a great deal" for all three countries and said the pact brings an end to the previous North American Free Trade Agreement ( NAFTA ). (more...)
Donald Trump, Saudi king discuss oil supply Donald Trump, Saudi king discuss oil supply
- October 03, 2018

U.S. West Texas Intermediate (WTI) crude futures CLc1 were off 7 cents at $75.23 a barrel, after earlier touching a four-year high of $75.91. WTI is up by nearly 18 percent since mid-August. The US President Donald Trump reviewed on Saturday in a phone call with Saudi King Salman bin Abdulaziz Al Saud the oil supply for stability of the market, Saudi Press Agency reported. (more...)
Trump Says Brazil Is Unfair To American Companies
- October 03, 2018

The development came to light when US officials asked them why does India want to have a trade deal with the US, Indian officials responded by saying that they wanted to keep the US President happy , as reported by the Economic Times . In yet another freakish White House news conference aimed at showcasing a revised trade agreement with Canada and Mexico, Trump latched on to his familiar rant about high tariffs India had imposed on Harley Davidson motorcycles to claim that his tough stand ... (more...)
Dairy Farmers of Ontario slams USMCA trade deal Dairy Farmers of Ontario slams USMCA trade deal
- October 03, 2018

Bilous said the removal of that clause shows our southern neighbours are no longer anxious about market access. Labour leaders across Canada are happy about the removal of NAFTA's Chapter 11's investor-state dispute settlement system, which allowed corporations to sue governments. (more...)
Birmingham Airport passengers stranded after Primera Air collapses Birmingham Airport passengers stranded after Primera Air collapses
- October 03, 2018

What to do if you booked with Primera? In a statement, the airline said it had been unable to secure long-term financing, and that it had no other choice than to file for bankruptcy. Some passengers, who were tweeting from the boarding gate, said they were notified just before their flights. Those left stranded away from home will have to make their own alternative arrangements for their return journey and are advised to contact their insurer or travel agent for assistance. (more...)
Shell, Partners Approve $31 Billion Project to Speed Gas to Asia
- October 03, 2018

The project owners will provide their own natural gas supply and will individually market their share of LNG, LNG Canada said in the statement. LNG Canada announced late Monday night that its joint venture participants - Shell, PETRONAS, PetroChina, Mitsubishi Corporation and KOGAS -have taken a Final Investment Decision to build the LNG Canada export facility in Kitimat, B.C.in the traditional territory of the Haisla Nation. (more...)
FEMA plans nationwide emergency phone message test for Wednesday, Oct. 3
- October 02, 2018

According to FEMA , some people call the tone "quite loud", and it and the vibration will repeat twice on your phone. During the test, compatible cell phones that are switched on, within range of an active cell tower, and whose wireless provider participates in WEA should be capable of receiving the test message. (more...)
Amazon to Raise Its Minimum U.S. Wage to $15 an Hour Amazon to Raise Its Minimum U.S. Wage to $15 an Hour
- October 02, 2018

Workers in an Amazon fulfillment center take a group selfie. Today, in a surprise move, the Seattle, Washington-based company announced that they are raising their minimum hourly wage to $15. But as Amazon's stock has risen, so has Bezos' net worth - it's now estimated around $165 billion. Bernie Sanders in recent months added his voice to the criticism, targeting the company and its leader by name with legislation that would tax companies the cost of the food stamps and other federal ... (more...)
Amazon increases its minimum wage to $15
- October 02, 2018

The higher minimum wage, which will go into effect on November 1, comes after the company faced criticism over its pay and treatment of employees. Sen. "We're excited about this change and encourage our competitors and other large employers to join us". Sen. Bernie Sanders, the Vermont independent, has lashed out at Amazon recently for failing to pay a "living wage", to workers, leaving some dependent on safety-net programs like food stamps and Medicaid. (more...)
Tesla shares rise 17% after Elon Musk settles with SEC Tesla shares rise 17% after Elon Musk settles with SEC
- October 02, 2018

Under the settlement , Tesla and Mr Musk will pay $20 million each to the securities regulator and Musk will step down as chairman but remain as chief executive. The only thing standing in the way of an official announcement is a shareholder vote. The SEC wrote in its complaint that Musk's August 7 statements "created the misleading impression that certain terms of a transaction to take Tesla private had been determined when, in fact, they had not even been explored, and in some cases, ... (more...)
Oil breaks out to highest since 2014 Oil breaks out to highest since 2014
- October 02, 2018

Other countries that produce oil have increased output in recent months to meet growing demand, but supply still remains tight. The price of Brent crude climbed to more than $83 a barrel on Monday morning, reaching a level not seen since oil prices last peaked in 2014. (more...)
USMCA: A trade deal that does no harm, but breaks no ground
- October 02, 2018

President Trump points to a reporter as he speaks during a news conference on North American trade Monday in the White House Rose Garden. But the agreement will now push Canada's current copyright terms, which stood at 50 years past the author's life, to 70 years so that it can fall in line with US protections. (more...)

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