Economy

Economy Trump says he’s recommending Herman Cain for seat on the Fed
Author: 0 Trump says he’s recommending Herman Cain for seat on the Fed

Doing so, however, raises the possibility of Capitol Hill testimonies regarding sexual harassment allegations against Cain, which ultimately derailed his 2012 candidacy for the Republican presidential nomination. Cain, who had a long corporate career, has also worked in the Federal Reserve system. Asked if he is sending a signal to the Fed with the pair of nominations, Trump said: "None whatsoever".

Economy Burger King’s Whopper - Animal, Vegetable Or Mineral? Always Been Hard To Tell
Author: 0 Burger King’s Whopper - Animal, Vegetable Or Mineral? Always Been Hard To Tell

The Impossible Whopper has 15 percent less fat and 90 percent less cholesterol than a standard Whopper, though Burger King chief marketing officer Fernando Machado claims that neither customers nor employees notice the difference. Impossible Food products are now served at almost 6,000 U.S. restaurants. Beyond Impossible Foods, other start-ups in the United States like Memphis Meats and Just, or Mosa Meats in The Netherlands, are working to develop meat from animal cells, not actual ...

Economy Supreme Court rejects RBI's circular on resolution of stressed assets
Author: 0 Supreme Court rejects RBI's circular on resolution of stressed assets

The Supreme Court Tuesday held the February 12 circular "ultra vires as a whole" - essentially meaning the RBI had gone beyond its powers - and thus "of no effect in law". Now, the RBI can ask for a review from the SC on whether its circular can still work without the specific clauses that the court disagreed with. Under this plan, stressed power projects would be nursed back to health through equity support from banks and power sector lending agencies and operational support from an ...

Economy Ford shares preview of upcoming Puma crossover
Author: 0 Ford shares preview of upcoming Puma crossover

The company says the vehicle will most likely ship as a mild hybrid based on a 1.0-liter, three-cylinder gas engine, a lithium-ion battery, and a starter-generator connected via a belt drive and capable of accumulating power. The SUV will come with three hybrid options starting with a plug-in hybrid setup which uses a 2.5-litre petrol engine coupled with a 14.4 kWh lithium-ion battery to produce 225PS of power.

Economy Economists call for at least 25 bps rate cut by RBI
Author: 0 Economists call for at least 25 bps rate cut by RBI

Apart from U.S. trade issues, the uncertainties in the European market due to lingering Brexit decision has contracted the industrial production during September-January. The inflation path during 2019-20 is likely to be shaped by several factors. The MPC noted that the output gap remained negative and domestic economy was facing headwinds, especially on the global front.

Economy Rare glimpse into Saudi Aramco shows $111 billion net profit
Author: 0 Rare glimpse into Saudi Aramco shows $111 billion net profit

Saudi Aramco's net profits reached USD111 billion previous year, according to an assessment published on Monday by Moody's Investors Services that offered a rare glimpse into the state-owned oil firm's finances before it issues its first bonds in worldwide markets.

Economy Jeff Bezos' ex-wife cedes control of Amazon in divorce deal
Author: 0 Jeff Bezos' ex-wife cedes control of Amazon in divorce deal

The couple in January announced their split in January after 25 years of marriage. Jeff Bezos, widely viewed as a management guru whose long-term focus has been essential to Amazon's meteoric stock rise, will retain company control. "Excited about my own plans. Grateful for the past as I look forward to what comes next". Amazon also posted a new SEC filing Thursday morning outlining terms of their Amazon shares; MacKenzie Bezos will receive 4 percent of Amazon's stock, which is worth ...

Economy National Burrito Day 2019: Deals, discounts from Chipotle, Moe's, more
Author: 0 National Burrito Day 2019: Deals, discounts from Chipotle, Moe's, more

You can score free burritos, free guacamole, free burrito delivery, and more. El Pollo Loco: We love a BOGO, especially when there are burritos involved. Rubio's : Get any burrito for $5 with the purchase of a drink Thursday and a coupon posted on Rubio's . This deal is only available in-store and on National Burrito Day .

Economy Bitcoin price (BTC/USD) tops $5,000 for the first time since late November
Author: 0 Bitcoin price (BTC/USD) tops $5,000 for the first time since late November

While observing the TOP-10, the growth of Bitcoin Cash ( BCH ) is especially worth noting - it showed a growth of nearly 50% over the last week. In November previous year, the downward slide for crypto ensued as investors exited risker assets and products amid trade conflicts and geopolitical issues including Brexit as the uncertainties reflected a cloudy outlook going into 2019.

Economy Carlos Ghosn arrested again in Japan
Author: 0 Carlos Ghosn arrested again in Japan

Ghosn said: the latest arrest was " outrageous and arbitrary ". His lead lawyer, Junichiro Hironaka , said prosecutors wanted to silence Ghosn who on Wednesday tweeted plans to hold his first press conference on April 11. The payments in Oman were to Suhail Bahwan Automobiles LLC, which is Nissan's exclusive distributor in the sultanate, people with knowledge of the matter have said.

Author: 0 RBI Policy: Inflation projection lowered to 2.9-3 percent for H1FY20

It is widely being expected that the committee will recommend another rate cut of 25 bps. Consequently, the reverse repo rate stands at 5.75 per cent. "Banks are not willing to cut rates as deposits and household financial savings are at historical lows", Bloomberg reported quoting Prachi Mishra, chief India economist at Goldman Sachs Group Inc.

Economy Nissan's ex-chair Ghosn wants separate trial from automaker
Author: 0 Nissan's ex-chair Ghosn wants separate trial from automaker

The case has shaken the global auto industry and marked a dramatic fall from grace for an executive once lauded for his rescue of Nissan from the brink of bankruptcy two decades ago. Renault spokesman Frederic Texier declined to comment, while the French financial prosecutor's office did not respond to requests for comment and SBA could not be reached for comment.

Economy Italy´s Ferrero to buy biscuit businesses of Kellogg for $1.3 bln
Author: 0 Italy´s Ferrero to buy biscuit businesses of Kellogg for $1.3 bln

The transaction between the two snack giants was expected to close by the end of July, Kellogg said . The company behind Ferrero Rocher and the hazelnut spread Nutella said it would also be buying from Kellogg six food manufacturing facilities across the U.S., from Washington to Kentucky, as well as two plants in Chicago.

Economy Sequoia Capital India on boards Google's Rajan Anandan
Author: 0 Sequoia Capital India on boards Google's Rajan Anandan

Google has commented on his move, nodding to his influence not only at Google but in building India's internet and e-commerce ecosystem as a whole. Google India and South East Asia head Rajan Anandan has quit after serving eight years at the tech giant.

Economy China's PMI rebound provides additional boost to stock market
Author: 0 China's PMI rebound provides additional boost to stock market

The expansion of USA manufacturing activity in March also showed a revival from the lowest in late 2016. Japanese manufacturing activity contracted at a slower pace in March, but output fell at the sharpest rate in almost three years. Output charges edged up into expansionary territory and outpaced growth in input prices, reflecting reduced pressure from raw material costs. Slowing global demand, trade disputes and uncertainty about Brexit are weighing heavily on German manufacturing, ...

Economy British PM May grapples with Brexit deadlock as European Union warns of no
Author: 0 British PM May grapples with Brexit deadlock as European Union warns of no

Spearheaded by Labour's Yvette Cooper and Tory Oliver Letwin, the move comes after Parliament failed to find a consensus that could rival May's own Brexit deal . Macron said before a meeting of the two leaders in Paris that "we can not spend the coming months on solving terms for the divorce". He said Britain could still accept the stalled deal negotiated by Mrs May, reiterating it was "the only way" for Britain to leave the bloc in an orderly way.

Economy MPs vote again on Brexit options
Author: 0 MPs vote again on Brexit options

On March 27, 188 MPs voted for this, 283 voted against. Anti-Brexit demonstrators protest outside Houses of Parliament in the rain. If passed into law, the bill would require the PM to ask for an extension of Article 50 - which mandates the UK's exit from the European Union - beyond the current 12 April deadline.

Economy Saudi ‘shock therapy’ sends global crude prices to 5-month highs
Author: 0 Saudi ‘shock therapy’ sends global crude prices to 5-month highs

U.S. West Texas Intermediate (WTI) futures rose 63 cents to US$59.93 a barrel, and were on track for a rise of 32% over the January-March period. Price were also underpinned by a Reuters survey showing OPEC oil supply sank to a four-year low in March, and positive data from the world's biggest economies, the United States and China.

Economy Whole Foods to cut prices by 20% on select items
Author: 0 Whole Foods to cut prices by 20% on select items

In a joint statement, Whole Foods and Amazon said they will make their third round of price cuts, offering lower prices on fresh produce and expanding Prime benefits with more exclusive weekly deals on popular products. The decision to pare back prices comes amid heightened competition in the grocery segment, driven especially by Walmart's push to expand in the food-retail category, said Moody's analyst Charlie O'Shea.

Economy U.S. student mistook murderer´s vehicle for Uber
Author: 0 U.S. student mistook murderer´s vehicle for Uber

Uber has not publicly commented on the death - but safety tips on the company's website say that the app will show the Uber driver's name, photograph, make and model of the vehicle and the license plate number. We here at Above the Law would like to extend our condolences to Samantha Josephson's family, friends, and colleagues during this hard time. "I assured them we will be with them for every step of the way until this is done", Holbrook added.

Economy Turkey's Erdogan says ruling AKP to 'correct shortcomings' after losing Ankara
Author: 0 Turkey's Erdogan says ruling AKP to 'correct shortcomings' after losing Ankara

But the loss of Istanbul "would be a nuclear defeat ", he said - one that diminished Erdogan's aura as Turkey's "invincible politician". Turkey's opposition candidate for Istanbul mayor, Ekrem Imamoglu, has claimed victory in Sunday's local election for the city after results showed him in a dead heat with the ruling AKP party candidate.

Economy Lyft stock price drops below IPO price
Author: 0 Lyft stock price drops below IPO price

Lyft priced 30.77 million shares at $72, compared with an expected range of $70 to $72. While Lyft's IPO is struggling, investors will be watching its rival Uber when it goes public later this year to see if tech startups can succeed on Wall Street before turning a profit.

Economy Saudi Aramco profit dwarfed the biggest global companies in 2018
Author: 0 Saudi Aramco profit dwarfed the biggest global companies in 2018

That places Aramco ahead of some of the world's most profitable firms. Aramco will pay 50 per cent of the Sabic acquisition cost when the deal closes and the rest over the subsequent two years, according to a person who saw a presentation made to potential investors on Monday.

Economy Erdogan's AKP voted out in Ankara
Author: 0 Erdogan's AKP voted out in Ankara

Ekrem Imamoglu, the candidate from the main opposition Republican People's Party (CHP), had won 48.79 percent of the votes, as against 48.51 percent for Yildirim, according to the latest data unveiled by the state-run Anadolu Agency. The local elections were held for the first time after the president acquired sweeping executive powers following the April 2017 referendum. Many former partners might think twice before resuming an alliance after Erdogan's campaign condemnation of opponents he ...

Economy Facebook increases transparency, gives users greater control over News Feed
Author: 0 Facebook increases transparency, gives users greater control over News Feed

The tool lists the multiple variables explaining how your past interactions on Facebook led to News Feed prioritizing to show you that post over others. What information generally has the largest influence over the order of posts, including: (a) how often you interact with posts from people, Pages or Groups; (b) how often you interact with a specific type of post, for example, videos, photos or links; and (c) the popularity of the posts shared by the people, Pages and Groups you follow.

Economy Big fuel price hike in April
Author: 0 Big fuel price hike in April

The LDO price has been increased from earlier Rs77.53 to Rs80.53 per litre. The maximum retail price for LPGas would increase by R1.71 a kilogramme, the department said. 91 Premium has increased from QR 1.55 per litre to QR 1.80 per litre; 95 Super has increased from QR 1.60 per litre to Qr.1.85 per litre and Diesel has increased by from QR 1.85 to 1.95 per litre respectively.

Economy USA airlines hit by system-wide outages
Author: 0 USA airlines hit by system-wide outages

Impacted airlines included Southwest, United, JetBlue, Alaska and Delta . Delta said the issue was a "system-wide outage", while Southwest tweeted "this is affecting us on a system-wide level". The other four affected airlines had more than 175 flights delayed. The Federal Aviation Administration told CBS News several carriers were "experiencing issues with a flight planning weight and balance program called Aerodata".

Economy China's Huawei profit up 25% in 2018 despite USA pressure
Author: 0 China's Huawei profit up 25% in 2018 despite USA pressure

The company said overall revenue grew 19.5 percent while its consumer business surged 45 percent. No doubt, it is really good news for Huawei . The move is due to concerns that the latest mobile phone technologies made by the Chinese telecoms giant Huawei for Ireland's 5G network could be used for spying and the theft of intellectual property.

Economy AstraZeneca lands $6.9bn deal for 'transformative' cancer drug
Author: 0 AstraZeneca lands $6.9bn deal for 'transformative' cancer drug

In addition, it has the potential to redefine breast cancer treatment as the first therapy forHER2-low expressing tumors. "We believe that trastuzumab deruxtecan could become a transformative new medicine for the treatment of HER2 positive breast and gastric cancers", said Soriot in a statement.

Economy US, China hold 'candid and constructive' trade talks
Author: 0 US, China hold 'candid and constructive' trade talks

China's Vice Premier Liu He, right, shakes hands with U.S. Treasury Secretary Steven Mnuchin as they pose for a group photo at Diaoyutai State Guesthouse in Beijing Friday, March 29, 2019. As China nears agreement with the USA, officials are keen to maintain an appearance of equality between the two sides, hence the focus on matching visits to Beijing and Washington , the people said.