Economy

Economy Elon Musk's apology to analysts he scorned sends Tesla stock soaring
Author: 0 Elon Musk's apology to analysts he scorned sends Tesla stock soaring

During a conference call with analysts, Musk said late Wednesday he expects Tesla to report profits in all future quarters as long as the USA economy remains strong. This was a major milestone laid out by Musk and Tesla specified that this level of production was sustained, not burst. While the electric vehicle maker has failed to generate profit for yet another quarter, the trend has not apparently discouraged the market, with Tesla stock gaining 11 percent and trading at $334.18 ...

Author: 0 FTSE 100 Drifts Lower Ahead Of Central Bank Meetings

The yen fell 0.4 percent to 111.49 per dollar, the weakest in more than a week. The BOJ pledged to maintain its short-term interest rate target at minus 0.1 percent and chose to guide 10-year JGB yields around zero percent. "We can say it is a step towards normalisation of monetary policy but it was a fine adjustment and the BOJ is expected to keep the existing policy framework".

Economy Erdogan Slams 'Evangelist' US as Pastor's Detention Roils Ties
Author: 0 Erdogan Slams 'Evangelist' US as Pastor's Detention Roils Ties

Turkey's almost two-year detention of Brunson has caused a deep strain in relations between Ankara and Washington. Washington is "not happy with Turkey's decision not to release" the pastor, said the White House spokeswoman, adding that US President Donald Trump and his Turkish counterpart, Recep Tayyip Erdogan , have discussed the issue "on several occasions".

Author: 0 Salad, wrap products sold at Kroger, Walgreen’s recalled

After an FDA analysis confirmed the presence of Cyclospora in an expired salad mix containing romaine lettuce , Fresh Express began informing companies that received products of concern about the results. "Illnesses might not have been reported yet due to the time it takes between when a person becomes ill and when the illness is reported", the alert reads.

Author: 0 RBI hikes repo rate by 25 basis points

On Wednesday, the central bank announced a 25 basis points (bps) hike in the repo rate. This is the first time in almost five years that the RBI has gone for a back-to-back hike, having increased repo rate by 25 bps to 6.25 per cent + in its last policy meet in June.

Economy Tata Motors posts ₹1863-cr loss in Q1
Author: 0 Tata Motors posts ₹1863-cr loss in Q1

JLR reported a loss of 210 million pounds ($276 million) in the quarter through June. Despite these challenges, we remain committed to deliver the planned margins we outlined earlier this year and appreciate the urgency to address our challenges with speed.

Economy Uber to scrap self-driving truck programme to focus on cars
Author: 0 Uber to scrap self-driving truck programme to focus on cars

Despite the work already put into the plan, Uber has chose to change its business focus, shuttering the autonomous truck project in the process. "We believe having our entire team's energy and expertise focused on this effort is the best path forward", Meyhofer said in his statement.

Economy Huawei tops Apple in tightening smartphone market: IDC
Author: 0 Huawei tops Apple in tightening smartphone market: IDC

As per Counterpoint , the price segment above Rs 30,000 in India for the April-June quarter saw Chinese dominance with OnePlus gaining significant share. The Samsung Galaxy S9+ is a distant second, followed closely by the OnePlus 5T . "Increasing prices and maintaining market share in the face of a stronger USA dollar might be easy for a brand such as Huawei , but will be hard for Xiaomi, Oppo and Vivo ", the Canalys analyst added.

Author: 0 MoviePass Users Are Reporting Widespread Outages - Is The Service Dead For Good?

MoviePass sells subscriptions for $9.95 a month. Subscribers would have to pay a surcharge of up to $8 for popular, high-demand movies. According to the release, "First run movies opening on 1,000+ screens will be limited" in availability for the first two weeks of release, except those made available on a promotional basis.

Economy Homeless man's bold 'hungry' sign results in hundreds of job offers
Author: 0 Homeless man's bold 'hungry' sign results in hundreds of job offers

She then asked if she could take a picture of him and his resume to share on social media. After the photo of him in a dress shirt and tie with his sign was shared on Twitter , he said he's received more than 200 job offers. "I spent 20 to 30 seconds writing the tweet and Facebook post and by the end of the night, it hit nearly 10,000 shares". "I am glad to be an inspiration for you all".

Economy Gary Lineker is backing a campaign for a second Brexit referendum
Author: 0 Gary Lineker is backing a campaign for a second Brexit referendum

Most British voters support a referendum on the final terms on any Brexit deal, according to a YouGov poll for United Kingdom newspaper The Times . Former England striker Gary Lineker has announced his support for a second Brexit referendum and said it was "more important than football".

Economy Harley drives deeper into Asia with smaller bikes to fuel growth
Author: 0 Harley drives deeper into Asia with smaller bikes to fuel growth

While this will be Harley Davidon's first foray into the adventure motorcycle market, there's no denying that the company knows how to make comfortable touring bikes, like the Ultra Limited . Harley wants to woo younger buyers, particularly in fast-growing Asian markets including China and India, with nimbler motorcycles that have smaller engines.

Economy McDonald’s launches global currency MacCoin
Author: 0 McDonald’s launches global currency MacCoin

The MacCoin was inspired by the Big Mac Index , a report that studies Big Mac prices across the globe to compare the difference in nation's currencies. In 1967, Michael James "Jim" Delligatti lobbied the company to let him test the burger at his Pittsburgh restaurants. McDonald's agreed to let Delligatti sell the sandwich at a single location, on the condition that he use the company's standard bun.

Economy Fox and Disney shareholders approve deal for entertainment assets
Author: 0 Fox and Disney shareholders approve deal for entertainment assets

According to disney , 99% of the shareholders voted yes. The companies noted that the consideration may be subject to adjustment for certain tax liabilities, and that the stock consideration is subject to a collar, which guarantees that 21st Century Fox stockholders will receive consideration equal to $38 United States dollars in value if the average Disney stock price at closing is between $93.53 and $114.32.

Economy Farmers still uncertain, despite Trump-EU trade deal
Author: 0 Farmers still uncertain, despite Trump-EU trade deal

The revelations of Chinese cyber espionage emerged amid the escalating trade war between Washington and Beijing - friction that has caused stock prices to drop in, whose currency, the renminbi, traded at it lowest point in a year against the US dollar Thursday.

Economy ‘Smelly Socks’ Odor Diverts Spirit Airlines Flight
Author: 0 ‘Smelly Socks’ Odor Diverts Spirit Airlines Flight

On a radio recording made by Myrtle Beach Fire Rescue, first reported by NBC4 NY, a rescue worker says, " Reports are we have several occupants on a plane exposed to an unknown substance". Several passengers were sent to hospital once the plane landed in South Carolina, NBC4 reports. "A handful of Guests were checked out by medical professionals and have since been cleared to continue their journey", the airline said in a statement to Business Insider.

Economy Facebook and Mark Zuckerberg sued after stock crash
Author: 0 Facebook and Mark Zuckerberg sued after stock crash

The complaint filed by shareholder James Kacouris in Manhattan federal court accused Facebook, Zuckerberg and Chief Financial Officer David Wehner of making misleading statements about or failing to disclose slowing revenue growth, falling operating margins, and declines in active users.

Economy US, EU to 'immediately resolve' steel, aluminum tariffs: Mnuchin
Author: 0 US, EU to 'immediately resolve' steel, aluminum tariffs: Mnuchin

Receive daily email alerts, subscriber notes & personalize your experience. We agreed today first of all to work together towards zero tariffs, zero nontariff barriers and zero subsidies for the non-auto industrial goods. Mike King took another perspective: "Trump has a fraction of the vocabulary of Junkers". "No, now it's more general goods such as agricultural products, machinery, high-tech products and other things", she said.

Economy World's oldest person dies in Japan
Author: 0 World's oldest person dies in Japan

Chiyo was born in Wakayama, located in Kansai region of Japan, on 2 May 1901, and was 117 years 81 days when she died. Chiyo Miyako , who was known to her family members as " the goddess ", died Sunday , said officials in Kanagawa prefecture, south of Tokyo .

Economy China pulls approval for Facebook's planned venture
Author: 0 China pulls approval for Facebook's planned venture

Then the registration disappeared, and references to the subsidiary were partly censored in Chinese media . Facebook hasn't commented on the matter as yet and neither have the Zhejiang provincial government or the Cyberspace Administration of China.

Economy European Union and United States kiss and make up on trade
Author: 0 European Union and United States kiss and make up on trade

An unnamed official said the European Union sided with Mr Trump over the recent imposed tariffs on Chinese imports, and agreed to cooperate with the U.S. "Great for global economy", he tweeted late on Wednesday. Juncker said he flat out rejected such a move, "cognizant of the situation in Europe, not only in France but also in Belgium, in Ireland, also in Luxembourg and anywhere else", he added.

Economy Beatdown at McDonald’s after customer throws milkshake at employee
Author: 0 Beatdown at McDonald’s after customer throws milkshake at employee

Marie Dayag, the customer that captured the footage, said the fight started over a free soda. "I guess I'm a world star now!" she said in a follow-up video. 'I wasn't even going to hit her. McDonald's has not yet released a statement regarding the incident. The cashier snatched the lady, wearing only a little dark tank vest and dark shorts, and begins beating her head on a table.

Economy Disneyland wages: Minimum wage rising to $15 an hour
Author: 0 Disneyland wages: Minimum wage rising to $15 an hour

More specifically, those already earning $20 an hour will receive a bump of 60 cents an hour immediately, and additional 75 cents in January. Employees at Walt Disney World in Orlando are also in a similar wage dispute, with local unions fighting to lift their minimum wage from $10 per hour to $15 per hour by 2021.

Economy PH vulnerability to external oil price disruptors
Author: 0 PH vulnerability to external oil price disruptors

The Bab al-Mandeb Strait between Yemen and Djibouti is just 20km wide, making shipping vulnerable to attack from the Houthi's in war-torn Yemen. While Saudi Arabia is busy launching military factories and importing weapons, the UAE has built a formidable force of mercenary recruits, using its oil wealth to purchase arms from, among others, South Africa.

Economy Nasdaq sheds 1% as Facebook leads tech plunge
Author: 0 Nasdaq sheds 1% as Facebook leads tech plunge

TECHNOLOGY: Facebook's tumble, brought on by its warning to investors that it sees slower revenue growth ahead, led a decline in technology shares that snapped a three-day winning streak for the S&P 500 index. ENERGY: Benchmark U.S. crude lost 22 cents to $69.39 per barrel in NY. Coca-Cola Co shares rose 1.8 percent after the beverage company's quarterly sales and profit beat estimates.

Economy Trump falsely claims historic turnaround
Author: 0 Trump falsely claims historic turnaround

This marks the fastest pace of growth for the US economy in any quarter since the third quarter of 2014. "We've accomplished an economic turnaround of historic proportions", Trump said . Yet, there's nothing miraculous about fiscal stimulus. He campaigned on a platform of tax cuts for businesses and individuals, as well as deregulation.

Economy European Union offers trade talks to Trump despite steel and olive tariffs
Author: 0 European Union offers trade talks to Trump despite steel and olive tariffs

It was a stunning turnaround. Many Republican lawmakers oppose Trump's trade policy, including his plan to dismantle the North American Free Trade Agreement. In terms of both the amount and the price, LNG from the U.S. can not compete with natural gas from Russian Federation, delivered by pipeline. Speaking before the press, Trump was heard quoting phrases that have always been part of the EU's repertoire.

Economy $168 billion lost in a day: Facebook's plunge could rewrite history
Author: 0 $168 billion lost in a day: Facebook's plunge could rewrite history

Those problems hadn't mattered to the success of the business - until now. Facebook's grim forecast predicts that margins will be much lower for the next few years due to " more choices around data privacy" as well as currency market predictions and the GDPR, according to a statement made by Facebook CFO David Wehener during the earnings call.

Economy Jovial Mutharika arrives in South Africa for BRICS summit
Author: 0 Jovial Mutharika arrives in South Africa for BRICS summit

In a speech aimed largely at the Trump administration in the US, President Xi said there could be no victor in any trade war. Russian Foreign Ministry Spokeswoman Maria Zakharova later stated that if the USA and the worldwide community are unable to make Kiev implement the Minsk agreements, then they can discuss other methods of regulation.

Economy Trump talks trade in Granite City, Illinois
Author: 0 Trump talks trade in Granite City, Illinois

During a Thursday Granite City, IL speech at one of U.S. Steel's mill, Trump touted job numbers, giving himself a pat on the back for recent employment growth before erroneously claiming he secured the majority of the women's vote. On Thursday, President Trump toured the facility and spoke to workers, hailing the steel mill as an economic success story. "It's just good to be back into the country looking up and helping us out, which we can turn around and help out the country in itself", ...

Economy Trade deal with European Union trade greater in scope than expected: U.S
Author: 0 Trade deal with European Union trade greater in scope than expected: U.S

After Trump imposed tariffs on $34 billion worth of Chinese goods, China responded with retaliatory tariffs on US products, including soybeans. President Donald Trump and Jean-Claude Juncker, president of the European Commission , the EU's executive body, struck a surprise deal on Wednesday that ended the risk of an immediate trade war between the two powers.

Author: 0 US economy surges to 4.1% growth rate in second quarter

Consumers began spending their increased take-home pay on autos and other big-ticket items, spurred by the $1.5 trillion tax cut Trump pushed through Congress in December. The US economy grew at a 4.1% annual rate in the second quarter of the year, a figure Trump touted as "amazing" and sustainable - even as economists caution economic growth for the second half of the year will likely be slower.