Economy

Economy Will Continue To Work For New NAFTA Deal: Canada
Author: 0 Will Continue To Work For New NAFTA Deal: Canada

President Donald Trump talks on the phone with Mexican President Enrique Pena Nieto, in the Oval Office of the White House, Monday, Aug. 27, 2018, in Washington . The new agreement - pending the required signatures - could also change the proportion of a vehicle that must be made by workers who are paid $16 per hour or more.

Economy Uber heads in new direction with Toyota on self-driving cars
Author: 0 Uber heads in new direction with Toyota on self-driving cars

The investment values Uber at $72 billion, matching the valuation Uber received in a deal with Alphabet Inc ( GOOGL.O ) self-driving unit Waymo this year. Uber is counting on self-driving cars to help it turn the financial corner by reducing the need to pay human drivers who arrive to pick up passengers in private vehicles summoned through a smartphone app.

Economy Saudi Arabia 'committed' to Aramco IPO
Author: 0 Saudi Arabia 'committed' to Aramco IPO

The listing, which was to be the largest IPO in history, was delayed numerous times, its peril-fraught journey likely doomed from the start, encountering barriers anywhere from finding a suitable listing venue to quantifying its sizable oil reserves, from suspect transparency to in-fighting between the Saudi government and Aramco.

Economy Mexico Reach NAFTA Deal, Talks With Canada To Begin Immediately
Author: 0 Mexico Reach NAFTA Deal, Talks With Canada To Begin Immediately

Auto-immunity: Per Reuters , the agreement helps resolve one of the stickiest issues that arose under NAFTA surrounding the rules of origins for cars, which required that a certain percentage of vehicle parts be from countries within the NAFTA region in order to avoid tariffs.

Economy Berkshire Hathaway takes stake in Paytm
Author: 0 Berkshire Hathaway takes stake in Paytm

The Registrar of Companies (RoC) filings also show that the company's total income had jumped over 38 per cent to Rs 828.6 crore in FY 17. Buffett would join a star-studded group who have invested in Sharma's companies, including Masayoshi Son's SoftBank and Jack Ma's Alibaba and Ant Financial.

Economy Bitcoin ETFs Rejected by SEC
Author: 0 Bitcoin ETFs Rejected by SEC

SEC mentioned issues of price manipulation and BTC's small market size as one of the reasons for turning down the proposals. However, it was announced on Tuesday that the rejection orders had been stayed and would now be reviewed by senior SEC officials.

Economy Trump says trade deal with Mexico could 'happen soon'
Author: 0 Trump says trade deal with Mexico could 'happen soon'

Mexico's Economy Minister Ildefonso Guajardo said on Sunday that bilateral negotiations with the United States about the North American Free Trade Agreement (NAFTA) were in the "final hours". The U.S. -Mexico talks for weeks focused on crafting new rules for the automotive industry, which Trump has put at the center of his drive to rework the 24-year-old deal he says has been a " disaster " for American workers.

Economy Fed Chair Powell: further rate hikes best way to protect recovery
Author: 0 Fed Chair Powell: further rate hikes best way to protect recovery

USA central bankers are raising interest rates gradually to keep inflation in check while at the same time giving the almost decade-long expansion room to run. The rate is now at a range of 1.75 percent to 2 percent, well above the near-zero level the Fed kept it at from late 2008 to 2015 but still historically low.

Author: 0 Michael Cohen prosecutors granted immunity to publisher David Pecker

Another NBC/WSJ survey conducted largely before the news broke about Cohen and Manafort showed similar approval ratings. One of the United States' leading econominsts, who also served in the adinsitrations of three US presidents including a term as Secretary of Labor, called on Saturday for Donald Trump to be removed from office - and for his entire presidency to be declare null and void, as if it never happened.

Economy Amazon workers defend warehouse working conditions
Author: 0 Amazon workers defend warehouse working conditions

More than a dozen Amazon workers are defending their employer on Twitter after a string of reports detailing bad working conditions at the company's fulfillment centers . "It's important that we do a good job of educating people about the actual environment inside our fulfilment centres, and the FC ambassador program is a big part of that", they added.

Economy Elon Musk Says Tesla Will Not Go Private & Remain a Public Company
Author: 0 Elon Musk Says Tesla Will Not Go Private & Remain a Public Company

He also said that if the company went private, there was a chance it would become public again later on. Or maybe "forced" isn't the ideal word, but they at the very least persuaded him to drop the "going private" dream. The Securities and Exchange Commission took interest, probing whether Musk had misled investors about the nature of his financing. "This will make it harder to invest" in Tesla, said Charles Elson, director of the corporate governance centre at the University of Delaware.

Economy Ryanair brings in new policy charging passengers for taking luggage onboard
Author: 0 Ryanair brings in new policy charging passengers for taking luggage onboard

It is the second time that Ryanair has altered its cabin luggage policy in a year. Non-priority customers who booked flights before 1 September, for travel after 1 November, can either add Priority Boarding for €8 or a 10kg bag for €10. "This led to the tagging of up to 120 free gate bags". But now the carrier has admitted that this policy has actually been causing delays to some flights with 25 minute turnarounds.

Economy World's weirdest electric vehicle is a one-seater limousine
Author: 0 World's weirdest electric vehicle is a one-seater limousine

Unlike some of the other creations set to be unveiled over the next 48 hours, however, the Prototype 10 is described by its creators as "purely a design study" with very few tangible links to their future output. That could be the greatest takeaway from this Prototype 10 Concept , because Infiniti has pledged to electrify all of its vehicles after 2021. The fin behind the driver's seat has hints of early Corvettes and the Jaguar D-Type race auto.

Economy Oil rises 2% with Brent futures hitting a two-week high
Author: 0 Oil rises 2% with Brent futures hitting a two-week high

Trade Representative, which has scheduled hearings this week on additional trade pressure on China . USA crude CLc1 was up 89 cents, or 1.3 percent, at $68.72. Oil demand is closely linked to economic activity and the trade dispute has already led analysts to trim their forecasts for future energy consumption.

Economy Trump Organization executive Allen Weisselberg receives immunity deal
Author: 0 Trump Organization executive Allen Weisselberg receives immunity deal

One of them said the immunity agreement was restricted to Weisselberg's grand jury testimony last month in the Cohen case, specifically the allegations that Cohen paid hush money to two women who claimed affairs with Trump. He has denied the affair. The red line that Senate Republicans drew a year ago against President Trump firing Attorney General Jeff Sessions is beginning to dissolve.

Economy Michael Cohen won’t accept Trump pardon ‘under any circumstances’
Author: 0 Michael Cohen won’t accept Trump pardon ‘under any circumstances’

Trump's financial guy, the highest ranking Trump Org exec not named "Trump", was granted immunity by federal prosecutors in NY to provide information about Michael Cohen in that criminal investigation. As part of the deal, he testified under oath that he made the hush-money payment to keep Daniels quiet about her alleged affair with Trump in order to preserve his candidacy in the 2016 election.

Economy Russian manufacturer Kalashnikov moves from AK-47s to an electric auto
Author: 0 Russian manufacturer Kalashnikov moves from AK-47s to an electric auto

In addition to the electric powertrain, Kalashnikov outfitted the auto with six LED light strips as headlights, modern wheels and tires and a rear-mounted charge port. Kalashnikov claims the CV-1 can travel up to 350 km (217 miles) on one single charge. These elements include a game-changing inverter that can reportedly allow the vehicle to travel up to 350 km on a single charge.

Author: 0 Trump says ‘everybody would be very poor’ if he’s impeached

Trump, however, denied all such allegations including Cohen's statements by saying, "He makes a better deal when he uses me". " You know the only reason I gave him the job?" Under oath, Cohen said he had paid the money "at the direction" of Mr Trump, "for the principal objective of influencing the election ".

Author: 0 Fed chairman defends steady interest rate hikes

Ahead of the speech , the Dow was up 0.27 percent, the S&P was up 0.27 percent and the Nasdaq was higher by 0.46 percent. There are risks to "moving too fast and needlessly shortening the expansion, versus moving too slowly and risking a destabilizing overheating" that could spark inflation, Powell said Friday .

Economy S&P 500 hits record high on way to longest market rally
Author: 0 S&P 500 hits record high on way to longest market rally

President Donald Trump , however, has declared the current bull run as the longest ever, tweeting after Wednesday's market close, "Longest bull run in the history of the stock market, congratulations America!" Since the bull market began on March 9, 2009, the stock market has made record gains, Fox Business reports .

Economy Mexican officials say NAFTA deal will require all three sides present
Author: 0 Mexican officials say NAFTA deal will require all three sides present

Ildefonso Guajardo, Mexico's economy minister, is to meet with U.S. Trade Representative Robert Lighthizer in Washington Tuesday and is "highly likely" to finalize an agreement in principle on a range of issues, said Ujczo. Canada has been waiting for the Mexican and United States teams to reach common ground on autos before rejoining the negotiations. As for when the US and Mexico might wrap up their talks, he was less definitive than some sources have been recently.

Economy United States rejects Turkey's offer on pastor
Author: 0 United States rejects Turkey's offer on pastor

Brunson , who is originally from North Carolina and has lived in Turkey for two decades, has been detained for 21 months on terrorism charges, which he denies, and is now under house arrest. "There will be no concessions", Trump told Reuters . Following her release Ozkan was met by reporters as she landed in Istanbul, and specifically thanked Erdogan for securing her freedom, according to the Turkish outlet Daily Sabah.

Economy Sears is closing its Crabtree Valley Mall store
Author: 0 Sears is closing its Crabtree Valley Mall store

In order to improve profitability, earlier this year Sears Holdings announced 100 store closures all over the country, reports CNBC . The closures are expected to be complete by November. As of May, the retailer had about 800 stores, down from about 1,000 at the end of past year and far below the 2012 peak of 4,000 stores. There are still 10 Sears open within 30 minutes drive of Crabtree Valley Mall, according to Sears' website.

Economy Cohen Pleads Guilty & Implicates President; Manafort Convicted of 8 Counts of Fraud
Author: 0 Cohen Pleads Guilty & Implicates President; Manafort Convicted of 8 Counts of Fraud

In doing so, he admitted in court that he made payments to silence two women-adult film star Stormy Daniels and former Playboy model Karen McDougal-at Trump's behest to affect the 2016 presidential campaign. He also said Cohen might go before Congress to testify. "They didn't come out of the campaign; they came from me". Davis later underscored that Cohen was talking about the president.

Economy Asia stocks capped, dollar droops following Trump comments
Author: 0 Asia stocks capped, dollar droops following Trump comments

Trump told Reuters , referencing Powell. But Trump has repeatedly lashed out at Fed Chairman Jerome Powell. Market is also looking for update on Sino-U.S trade-related talks as trade war fear is on rise post trump's statement blaming Europe & China of currency manipulation and commenting that the talk between US & China would not be fruitful while also mentioning 25% tariff on Europe yesterday night all of which is greatly pressuring US Greenback in broad market ahead of US FOMC update.

Economy China slaps back at latest U.S. tariffs in trade war escalation
Author: 0 China slaps back at latest U.S. tariffs in trade war escalation

A statement released by China's Commerce Ministry said the latest tariffs by the USA are a violation of World Trade Organisation rules. Trump has threatened to impose duties on virtually all of the more than $500 billion of Chinese goods exported annually to the United States unless Beijing agrees to sweeping changes to its intellectual property practices, industrial subsidy programs and tariff structure.

Economy Stocks mostly rise on hope for progress on China trade talks
Author: 0 Stocks mostly rise on hope for progress on China trade talks

U.S. trade officials are set to hold talks on Wednesday with Chinese and Mexican negotiators, fueling cautious optimism that further confrontations might be averted even as a new round of tariffs is about to hit. The discussions among mid-level officials could set a framework for further negotiations as each country prepares to hit the other with new tariffs on Thursday in a deepening dispute over China's economic policies.

Economy China skirts US ban, will buy oil from Iran
Author: 0 China skirts US ban, will buy oil from Iran

In March, April and May, Turkey did not import crude oil from Russian Federation. The US plans to release 11 million barrels of oil from its 660-million-barrel emergency stockpile, just as American sanctions on Iranian oil exports kick in.

Economy 'No-deal' Brexit would threaten European unity for a generation
Author: 0 'No-deal' Brexit would threaten European unity for a generation

Cabinet ministers agreed at their July away day to step up preparations for no deal, which a group of ardent leavers on the Conservative backbenches believe would be preferable to the white paper approach, with its "common rulebook". Credit rating agency Fitch scales back its expectations of the United Kingdom reaching an orderly transition deal with the European Union on Brexit, warning that "an acrimonious and disruptive no-deal Brexit is a material and growing possibility".

Economy Google Pixel 3 XL spotted sporting a certain sort of notch
Author: 0 Google Pixel 3 XL spotted sporting a certain sort of notch

Not only that, some new specs information and camera samples of the Pixel 3 XL have also surfaced online. Some of the black market Telegram messages, with the contact info obscured. Pixel 3 XL will have a massive 6.7-inch display with a mind-blowing resolution of 2960 × 1440. Aesthetically, the sides and rear of the handset appear to be near-identical to the second iteration of the device - the Pixel 2 and Pixel 2 XL - with a fingerprint scanner embedded in the aluminum majority ...

Economy Liberal leadership crisis: WA MP Julie Bishop to run for top job
Author: 0 Liberal leadership crisis: WA MP Julie Bishop to run for top job

The motion was narrowly defeated by 69 votes to 68, however Dutton tried to preempt the attack by releasing the legal advice he commissioned late past year on his eligibility to sit in Parliament, which he says clears him of accusations that he is in breach of the constitution.

Economy US punishes Russian Federation for oil transfers to North Korean ships
Author: 0 US punishes Russian Federation for oil transfers to North Korean ships

Trump has repeatedly said he would like better ties with Moscow , but despite meeting President Vladimir Putin last month, relations have come under further strain as Washington announced new sanctions. Responding to Hunt's speech, Russian Foreign Minister Sergei Lavrov accused Britain of trying to impose its policy toward Russia on the European Union and the United States.

Economy S. Africa inquiry into top-level state graft opens
Author: 0 S. Africa inquiry into top-level state graft opens

The allegations and other scandals surrounding Zuma's nine-year rule forced him out of office in February. Zuma's successor, President Cyril Ramaphosa , has promised to crack down on allegations of government corruption ; however the inquiry may do even more damage to the reputation of the ruling ANC party .