Economy

Economy Mahindra Responds To FCA Allegations On Roxor
Author: 0 Mahindra Responds To FCA Allegations On Roxor

Mahindra claims that FCA's case to ban the Roxor's import into the USA is without any merit as the SUV has been derived from Mahindra vehicles sold in markets, where FCA's own automobiles are sold. "However, we have reviewed FCA's core filing and find it to be without merit", said the Mumbai-based company. FCA claims the "accused product was modelled after original Willys Jeep" and it damages the Jeep brand's reputation, goodwill and business in the American market.

Author: 0 China Plans Tariffs on $60 Billion of Imports to Counter Trump

The US trade deficit recorded its biggest increase in more than 1-1/2 years in June as the boost to exports from soybean shipments faded and higher oil prices lifted the import bill. The polar fortunes of the U.S. agricultural industry cut off from Chinese markets and Chinese electronics firms cut off from the USA market makes it clear that in an ever more inter-connected world, while a trade war is mutually detrimental to all "combatants", in the specific case of China and the United States ...

Economy China refuses USA order to reduce oil imports from Iran
Author: 0 China refuses USA order to reduce oil imports from Iran

Many U.S. shale oil drillers posted disappointing quarterly results in recent weeks, hit by rising operating costs, hedging losses and a fall in crude prices away from 2018 highs reached between May and July. According to data compiled by the agency, China boosted its purchases of Iranian oil in July, snapping up more than a third of the country's total exports.

Economy RBS says profit down after US settlement, picture improving
Author: 0 RBS says profit down after US settlement, picture improving

The payment of the dividend and the timing is dependent on when a fine by the US Department of Justice is finalised, relating to an investigation into RBS's issuance and underwriting of US RMBS. The decline reflected the impact of the adoption of IFRS 9 accounting standards, lower income in the NatWest Markets investment banking arm and a £156mln gain on the disposal of its stake in payments and cashpoint processing firm Vocalink previous year.

Economy McDonald's Salads Are Now Linked to 395 Illnesses in 15 States
Author: 0 McDonald's Salads Are Now Linked to 395 Illnesses in 15 States

Now, the number of people who have reported illness in response to the parasite continues to grow. Of those stricken, 16 were hospitalized. It can take people up to a week after ingesting the contaminated food to start feeling symptoms, and many cyclospora infections take weeks to manifest.

Economy Oil steadies to trade higher after losses
Author: 0 Oil steadies to trade higher after losses

Low U.S. stockpiles were still providing a floor for prices, with overall U.S. crude inventories below the five-year average of around 420 million barrels. That's equivalent to about 11.21 million barrels a day, a jump of 140,000 from a month earlier, according to Bloomberg calculations based on the ministry's data.

Economy Spanish pilots union sues Ryanair over contracts
Author: 0 Spanish pilots union sues Ryanair over contracts

Ryanair has proposed third-party mediation to resolve a deepening row about terms and conditions with Ireland-based pilots. Trade union Forsa, which represents the pilots, hit out at the airline company following the warning. "Ryanair again calls on FORSA to remove these Aer Lingus pilots from the process since they have no interest in meeting or resolving this dispute, they just want to damage Ryanair's business and our share price for the benefit of Aer Lingus".

Economy USA employers add 157,000 jobs, jobless rate slips to 3.9 percent
Author: 0 USA employers add 157,000 jobs, jobless rate slips to 3.9 percent

July marked a solid month for the USA labor market according to the US Department of Commerce's Employment Report released this morning. Hispanic Americans enjoyed a record-low unemployment rate of 4.5 percent in July, breaking the record of 4.6 percent set just the month before.

Economy Trade tensions weigh on oil prices
Author: 0 Trade tensions weigh on oil prices

Iranian protesters have attacked a religious school in Karaj province near Tehran , the conservative Fars news agency reported on Saturday, as sporadic protests simmered ahead of the reimposition of U.S. Saudi Arabia, Russia, Kuwait and the UAE have increased production to help to compensate for an anticipated shortfall in Iranian crude supplies once planned USA sanctions take effect later this year.

Economy House of Fraser future in doubt as C.banner exits deal
Author: 0 House of Fraser future in doubt as C.banner exits deal

House of Fraser , which has one store in Dublin and one in Belfast, employs around 17,000 people across 59 stores Britain, Ireland, China and Abu Dhabi. House of Fraser has said Hamleys owner C.banner has pulled plans to invest in the business. Philip Day, the owner of Edinburgh Woollen Mill , Jaeger and Austin Reed , and restructuring firm Hilco, the group which recently bought DIY chain Homebase, are also thought to be taking a look.

Economy Conor McGregor to fight Khabib Nurmagomedov at UFC 229 in Las Vegas
Author: 0 Conor McGregor to fight Khabib Nurmagomedov at UFC 229 in Las Vegas

They're bad mouthing me, saying I turned down fights. With the fight between Conor McGregor and Khabib Nurmagomedov seemingly inevitable, the question remains where and when will the pair face off. The fight is scheduled to take place at UFC 230 in Madison Square Garden on November 3. Earlier in the news conference, the UFC also promoted the long-awaited return of Nate Diaz, who memorably split two bouts with McGregor in 2016.

Economy China unveils retaliatory tariffs on $60B of USA goods in latest salvo
Author: 0 China unveils retaliatory tariffs on $60B of USA goods in latest salvo

China's finance ministry unveiled new sets of additional tariffs on 5,207 goods imported from the United States, ranging from five to 25 per cent. Chinese Foreign Ministry spokesman Geng Shuang said Beijing was ready for "dialogue and consultation" on the issue, but added that "if the United States takes further measures that escalate the situation, China will definitely fight back".

Author: 0 US's Kudlow Trash Talks China Calling It 'Lousy Investment'

According to Reuters, the Chinese commerce minister said in a statement after the latest round of tariff threats that the U.S. had "repeatedly escalated the situation against the interests of both enterprises and consumers". China's trading partners complain those might violate its market-opening pledges by subsidizing or shielding Chinese companies from competition. The US dollar has been strengthening since April as the Fed continues to raise lending rates drawing investors looking for ...

Economy Turkey says USA sanctions unacceptable, have limited economic impact
Author: 0 Turkey says USA sanctions unacceptable, have limited economic impact

The row over Brunson escalated last week when US Vice President Mike Pence, like the pastor an evangelical Christian, said Turkey would face "significant sanctions " if this "innocent man of faith" was not freed. The meeting came on the sidelines of the Association of Southeast Asian Nations (ASEAN) foreign ministers' meeting. "They've been holding these folks for a long time".

Economy Apple becomes first private-sector firm with $1 trillion valuation
Author: 0 Apple becomes first private-sector firm with $1 trillion valuation

Shares have since nosed down, to $206.26 per share, as of 12:05 p.m. ET. Consequently, Apple became the first USA company with a market cap of over $1 trillion. USA tech companies have cemented their position in the broader market, now making up the top five most valuable enterprises based on share prices. Apple is the first USA company to hit the $1T milestone; here's why AAPL shares can climb even higher.

Economy Molson Coors producing cannabis beer through joint venture
Author: 0 Molson Coors producing cannabis beer through joint venture

The companies are aiming to close the deal before September 30, pending certain conditions such as the "execution and delivery of various transaction agreements, including governance documents and R&D and supply agreements". In a memo, Euromonitor's head of alcoholic drinks, Spiros Malandrakis, wrote: "There is a paradigm shift underway and cannabis has the potential to provide answers to the alcoholic drinks industry's existential questions".

Author: 0 Apple becomes world's first public company worth $1 trillion

It became the first $900 billion company exactly nine months ago, on November 3, 2017. And just for good measure, Apple repurchased $20 billion in stock during the quarter - $10 billion under its new $100 billion buyback program, and $10 billion under its prior authorization.

Economy Trump Administration Threatens Even Higher Tariffs On China
Author: 0 Trump Administration Threatens Even Higher Tariffs On China

Despite the current account deficit likely to be reported next week, and the potential for increased tariffs from the USA some observers still expect China to end 2018 with a trade surplus of approximately US$100 billion. A U.S. Treasury spokesman didn't respond to a request for comment. "Firstly, we urge the U.S.to correct its attitude, and not to try to blackmail China because it will never work", stated China's Ministry of Foreign Affairs spokesperson Geng Shuang .

Economy Apple hits the $1T milestone
Author: 0 Apple hits the $1T milestone

Apple briefly hit the $1 trillion mark, becoming the first publicly traded company in the U.S. to reach 13 figures in terms of market value. PetroChina , the world's fourth biggest oil company by revenue, was the first company to pass the $1tn mark in 2007.

Economy Financial fruit: Apple becomes first trillion-dollar publicly-traded company
Author: 0 Financial fruit: Apple becomes first trillion-dollar publicly-traded company

It had been on the cusp of becoming the world's first trillion dollar for a few days, pulling ahead of Amazon after announcing its second quarter results earlier this week . Apple announced $100 billion in stock buybacks on May 1, the largest repurchase ever by a USA public company. Breaking that threshold (even just for a moment since the shares blipped back down) was obviously a huge milestone, but now the company has thoroughly etched its name into the record books by closing at over $1 ...

Economy US mistaken to expect Saudi to compensate for Iran supply losses
Author: 0 US mistaken to expect Saudi to compensate for Iran supply losses

U.S.net imports declined by 2.5 million barrels per day during that week. Trump has been seeking to pad the oil market after he withdrew the United States from the Iran deal, a 2015 pact that lifted sanctions on the country in exchange for restraints on its nuclear weapons program.

Economy Chipotle closes OH restaurant amid food safety concerns
Author: 0 Chipotle closes OH restaurant amid food safety concerns

Patrick Quade, the founder of iwaspoisoned.com, told Business Insider that the number of reports had grown to 105, or 170 people sick, by Tuesday morning. Wells Fargo & Company MN now owns 92,320 shares of the restaurant operator's stock valued at $29,830,000 after purchasing an additional 1,907 shares during the period.

Economy OH to have a sales-tax holiday
Author: 0 OH to have a sales-tax holiday

Combining the Back-to-School Sales Tax Holiday with our $100-Per-Child Tax Rebate can help families across Wisconsin offset some of those costs. However, if the customer returns the item after the "sales tax holiday " and receives credit on the purchase of a different item, the sales or use tax will apply to the sale of the newly purchased item.

Economy Indian central bank raises rates for second time
Author: 0 Indian central bank raises rates for second time

In its Quarterly Inflation Report, the Bank said: "Although in the past year the number of retail closures have increased and retail footfall has fallen, contacts of the Bank's agents suggest that mainly reflects shifts in consumer demand to online stores and from goods to services".

Economy Apple briefly becomes the first $1 trillion USA company
Author: 0 Apple briefly becomes the first $1 trillion USA company

The iPhone maker achieved that big number on Thursday when the stock passed $207.04 a share. Since the iPhone first went on sale in 2007, Apple shares have soared by 1,100% and have jumped nearly a third in the past year. Under CEO Tim Cook, Apple also has embraced the internet, with its thriving services business helping propel the company toward the new milestone. Other tech giants have been approaching $1 trillion in market cap, but still lag behind Apple .

Author: 0 China threatens retaliation if United States doubles proposed tariffs

US Trade Representative Robert Lighthizer said on Twitter that the measure sought to "urge China to stop its unfair practices, open its markets, and engage in true market competition". "We would advise the USA side to return to reason, and not blindly let emotions affect their decisions, because in the end this will harm themselves", Mr Geng said.

Author: 0 Google is reportedly planning to launch a censored search app in China

Back in 2010, Google pulled its search service out of China because it didn't want to censor the search results; the move reported Wednesday would mark a departure from that. The censorship will apply across the platform: Google's image search, automatic spell check and suggested search features will incorporate the blacklists, meaning that they will not recommend people information or photographs the government has banned.

Author: 0 Higher interest on fixed deposits for NRIs after RBI rate hike

The Bank's last move to raise rates in November from 0.25 percent to 0.5 percent merely reversed the cut made in the aftermath of the Brexit vote, when the markets plunged. It also noted that households' inflation expectations have risen significantly in the last two rounds along with the expectations of manufacturing firms of a hardening of input prices.

Economy Huawei snatches the #2 spot from Apple in the global smartphone market
Author: 0 Huawei snatches the #2 spot from Apple in the global smartphone market

According to IHS and Strategy Analytics , Huawei grabbed more than 15% of the global smartphone market over April-June, overtaking Apple's roughly 12% and just behind Samsung's almost 20%. Tarun Pathak from Counterpoint Research said that Huawei's two-pronged strategy using its fast-growing Honor sub-brand to capture the mid-tier segment below £500 and its premium Huawei-branded smartphones at the top end, such as the P20 Pro , appeared to be working.

Author: 0 U.S. to apply more pressure on China with new tariff hike

Washington wants China to open its market more to USA products and stop harming American workers , one official said, speaking on condition of anonymity. Butina is accused of working with an American consultant, believed to be Erickson, on a covert Kremlin influence campaign to further Russia's interest in the U.S.by cultivating ties to prominent conservative groups, including the NRA.

Economy TSA 'Quiet Skies' program secretly monitors United States passenger behavior
Author: 0 TSA 'Quiet Skies' program secretly monitors United States passenger behavior

As the Boston Globe reports , this new "domestic surveillance program" is created to give the organization insight into the behavior of those chosen - none of whom are on any watch lists or suspected of any crimes. All American citizens who enter the United States are automatically considered for inclusion in the program as officials check their names against watch lists and examine their patterns of travel, according to agency documents obtained by the Globe .

Author: 0 White House Plans 25% Tariffs on China

The higher tariff rate, if implemented, would apply to a list of goods valued at $200 billion identified by the USTR last month as a response to China's retaliatory tariffs on an initial round of USA tariffs on $34 billion worth of Chinese electronic components, machinery, autos and industrial goods.

Economy RBI increases repo rate by 25 bps to 6.50%
Author: 0 RBI increases repo rate by 25 bps to 6.50%

In June, the repo rate was raised for the first time in over four years, by 25 basis points to 6.25 per cent. For instance, every time the RBI lowers repo rate, banks are typically expected to pass on the benefit to retail customers. However, the MPC being headed by RBI Governor Urijit Patel has kept their stance neutral. "First, the central government has chose to fix the minimum support prices (MSPs) of at least 150 per cent of the cost of production for all kharif crops for the sowing ...