Economy

Economy Italy's Political Deadlock Ends With Swearing-In of New Government
Author: 0 Italy's Political Deadlock Ends With Swearing-In of New Government

Conte read the list of ministers and told reporters in a brief statement: "We will work with determination to improve the quality of life of all Italians.?" Overall, the new cabinet comprised 18 ministers . "Italians have to take care of the poor regions of Italy". Ex-Premier Matteo Renzi, whose Democratic Party suffered its worst-ever thrashing in the March election, wished good luck to the Conte government while vowing to be the "civil opposition".

Author: 0 US Unemployment Falls To 3.8%, Lowest In 18 Years

The Bureau of Labor Statistics announced at 8.30am that the U.S. had added 223,000 new jobs in May as the unemployment rate slid t0 3.8%, its lowest level since April 2000 and one of the lowest levels since after the second world war. "In that environment, we still expect the Fed to hike interest rates an additional three times this year". Construction added 25,000 jobs in May after notching up gains of 21,000 jobs in April.

Economy Trump Calls on Canada to Open Markets, Remove Trade Barriers
Author: 0 Trump Calls on Canada to Open Markets, Remove Trade Barriers

Trump responded Friday morning with a tweet of his own that, " Canada has treated our Agricultural business and Farmers very poorly for a very long period of time". In a statement , European Commission President Jean-Claude Juncker said "this is protectionism, pure and simple". He called it a "therapy thing" when asked why Trump tweeted about the employment figures before their official release.

Author: 0 Deutsche Bank says financial strength 'beyond doubt' after ratings downgrade

The WSJ report had sent Deutsche Bank's shares down 7 percent to their lowest closing level, valuing it at $22 billion. "Many of you are sick and exhausted of bad news", Sewing said a letter to staff on Friday. A low ranking from the Fed has a severe impact on the activities that a bank can engage in and is said to have driven Deutsche's moves to reduce risk through curtailing its trading activities and cutting back on its lending.

Economy Euro sinks in Asian trade
Author: 0 Euro sinks in Asian trade

Italy's populist parties have been given a green light to form a new coalition government, ending months of political and financial instability. Italy, the eurozone's third biggest economy after Germany and France, has been plunged into crisis with President Sergio Mattarella at the weekend vetoing the nomination of a fierce eurosceptic as economy minister.

Economy Trump hits Canada, Mexico, EU with steel, aluminum tariffs
Author: 0 Trump hits Canada, Mexico, EU with steel, aluminum tariffs

Canadian makers and users of aluminum and steel say they are disappointed but not surprised by the Trump administration's decision to impose hefty tariffs on steel and aluminum produced north of the border. Steel is less lop-sided but the USA still didn't have the capacity to make all the steel the country needed. Europe and Mexico reacted to the US move with their own lists of tariffs on American products, raising fears of a trade war among allies.

Author: 0 OECD Raises GDP Forecast for Slovenia

THE prospect of a trade war is threatening the global growth outlook, which otherwise is on course for a 40-year low in unemployment, the OECD said on Wednesday. In the latest Economic Outlook, the Paris-based think tank said the global economy is set to grow 3.8 percent this year and 3.9 percent in 2019. In order to overcome these challenges, the organization proposed more robust and resilient productivity recovery, investment and living standards, in addition to normalized monetary ...

Economy U.S. announces 25 percent tariffs on Chinese tech goods
Author: 0 U.S. announces 25 percent tariffs on Chinese tech goods

The American Chamber of Commerce in China (AmCham) said in a report published yesterday that its member companies are anxious that investigations into China's intellectual property practices and industrial policies could cause tensions to flare again.

Economy Conte given new mandate to form government in Italy
Author: 0 Conte given new mandate to form government in Italy

Volatility on Italy's FTSE MIB index climbed to its highest premium over Eurostoxx 50 volatility as a result of the sell-off, Goldman Sachs analysts said in a note. The rare intervention by a head of state in the internal affairs of another EU member state was a real measure of the relief felt throughout the union at the exercise by Mr Mattarella of his constitutional prerogative to vet cabinet nominees.

Economy ‘Totally unacceptable’: Canada retaliates with tariffs on U.S. imports
Author: 0 ‘Totally unacceptable’: Canada retaliates with tariffs on U.S. imports

US Commerce Secretary Wilbur Ross , who announced the tariffs , said in an interview on Thursday that any retaliatory measures are unlikely to have much impact on the US economy. Trump imposed the tariffs in March after his U.S. Commerce Department declared that steel and aluminum imports undermine the country's manufacturing base and threaten national security.

Economy Starbucks closes Sarasota-Manatee shops for racial-bias training
Author: 0 Starbucks closes Sarasota-Manatee shops for racial-bias training

But the pair, Rashon Nelson and Donte Robinson, hadnt made a purchase, and an employee called police. Hakeem Jefferson, a political science doctorate student at the University of MI who will join Stanford University's faculty in the summer, told TIME ahead of Starbucks' training day that structural and systematic changes like these policies could help prevent "negative outcomes" of unconscious biases manifest themselves.

Economy Wall Street rebounds as Italy worries ease, energy shares soar
Author: 0 Wall Street rebounds as Italy worries ease, energy shares soar

Advancing issues outnumbered declining ones on the NYSE by a 4.05-to-1 ratio; on Nasdaq, a 2.13-to-1 ratio favoured advancers. South Korea's Kospi advanced 0.6 percent to 2,423.01. Exxon Mobil surged 3.5 percent. The German DAX was moving up 0.4 percent and the U.K.'s FTSE 100 was marginally higher while France's CAC 40 was down 0.6 percent after the release of disappointing data.

Economy Two-day bank strike begins | Bank strike
Author: 0 Two-day bank strike begins | Bank strike

According to National Organisation of Bank Worker's (NOBW) vice president Ashwini Rana said 10 lakh bank employees and officers of the 21 public sector banks, old generation private banks and foreign banks will join the 2 days. The strike, starting from today, has been called by all unions under the umbrella of United Forum of Bank Unions . "It is kind of an insult to the employees of public sector banks to be offered this kind of meagre hike".

Economy Trump slaps steel, aluminum tariffs on EU, Canada and Mexico
Author: 0 Trump slaps steel, aluminum tariffs on EU, Canada and Mexico

He cited a lack of progress in the renegotiations of the North American free-trade agreement as a reason for President Donald Trump eliminating an exemption Canada was given when worldwide tariffs were announced earlier this year. Last week, Trump launched yet another national security investigation into vehicle and truck imports that could lead to even more tariffs. Ross criticized the European Union for its tough negotiating position.

Economy Singapore Airlines Is Officially Bringing Back the World's Longest Flight
Author: 0 Singapore Airlines Is Officially Bringing Back the World's Longest Flight

Onboard, the aircraft will be configured with 67 business class seats and 94 premium economy seats, similar to the initial configuration of the airline's A340-500s used in the early years of the SIN-EWR route. Since then, new fuel-efficient aircraft such as the A350 and the Boeing 787 Dreamliner have seen an increase in the number of ultra-long-haul routes airlines are flying.

Economy Clinic for Cryptocurrency Trading Addicts Opens in Scotland
Author: 0 Clinic for Cryptocurrency Trading Addicts Opens in Scotland

Does the idea of taking a break from cryptocurrency trading annoy you? Castle Craig has created a course of residential therapy for those deemed to be crypto addicts. Due to cryptocurrencies' volatile price patterns and obscure value factors, it can become an even more exciting investment than conventional gambling and therefore has a higher risk of addiction, according to the hospital .

Economy Amazon to block Aussie shoppers from USA website
Author: 0 Amazon to block Aussie shoppers from USA website

Until now, GST has applied only to most goods sold in Australia and imported goods worth over A$1,000, making relatively low-priced imported items cheaper than their equivalents in local stores. We've been following the intent of the Australian government to add a charge to imported parcels whose value falls beneath the previous $1,000 threshold for some time.

Economy Only Seven Percent of Companies Are on Track for GDPR Compliance
Author: 0 Only Seven Percent of Companies Are on Track for GDPR Compliance

After a successful crowdfunding campaign, NOYB was set up as a new type of non-government organisation aimed at helping European citizens to claim their rights under the GDPR by providing the necessary resources. DiscoverReady is a leading information intelligence company specializing in legal, compliance and governance solutions . The fight against forced consent is also important for small and local companies , which usually can not force their customers to agree to policies, ...

Economy Bezos outlines vision of Blue Origin's lunar future
Author: 0 Bezos outlines vision of Blue Origin's lunar future

Bezos still sees the Earth as our home, but he believes that the days of doing industrial activities - mining, manufacturing, energy production - here on Earth are limited. "It's nearly like somebody set this up for us", he said. "It's not the future that I want for my grandchildren or my grandchildren's grandchildren", he said.

Economy Italian PM-designate seeks way out of political crisis
Author: 0 Italian PM-designate seeks way out of political crisis

After more than two months of failed negotiations, Mattarella then turned to former International Monetary Fund official Carlo Cottarelli to form a neutral government made up of technocrats to lead Italy until early elections . "This means that Italy will be left with no effective government backed by a clear political majority in Parliament until the end of the year", said Piccoli, co-president of Teneo Intelligence.

Economy Tesla Model 3 Production To Increase To 6000 Cars A Month
Author: 0 Tesla Model 3 Production To Increase To 6000 Cars A Month

That also allows braking to recapture some battery power. Tesla Model 3 saw a lot of hold-ups in the manufacturing process. The negative review arrives amid a blitz of negative Tesla headlines. "Stopping distance results are affected by variables such as road surface, weather conditions, tire temperature, brake conditioning, outside temperature, and past driving behavior that may have affected the brake system".

Economy World's largest diamond miner De Beers to sell synthetic stones
Author: 0 World's largest diamond miner De Beers to sell synthetic stones

These new diamonds will be sold at a fraction of the price of mined diamonds. The Lightbox brand diamonds will sell from $200 for one-quarter carat to $800 for a one-carat stone. According to Cleaver, their research suggests that consumers see diamonds that are grown in a lab as a fun, pretty product that should be cheap. The technology is so advanced that experts need a machine to distinguish between lab-made and mined gems.

Author: 0 Microsoft's value overtakes Alphabet for the first time in three years

On Tuesday, Microsoft's market cap surpassed Google parent company Alphabet's for the first time in three years, as the two tech giants continue on in the unofficial race to a market capitalization of $1 trillion. And about 70 percent of Apple's business is selling iPhones. Microsoft's market capitalization gained about 40% over the previous year, buoyed by its successful software subscriptions business and cloud computing growth.

Economy Tesla Model 3 recommended by Consumer Reports after brake software fix
Author: 0 Tesla Model 3 recommended by Consumer Reports after brake software fix

Tesla surged more than 3% Wednesday after a second test by Consumer Reports found the company fixed issues the magazine previously found with the Model 3 . Tesla shares jumped 3.4 percent to $293.50 at 1:32 p.m. Musk pledged in a tweet last week that the braking improvements would make the Model 3 best in its class.

Economy Navarro contradicts Mnuchin's assertion that trade war with China is on hold
Author: 0 Navarro contradicts Mnuchin's assertion that trade war with China is on hold

A delegation led by U.S. Commerce Secretary Wilbur Ross is due to arrive Saturday in China. Now, tariffs on the first $50 billion are back on track - though the president could change course again. They said he appears less concerned that he needs Chinese support for his proposed meeting with North Korean leader Kim Jong Un. "This dynamic makes it likely that both tariffs and investment restrictions will go into effect".

Economy Singapore Airlines to launch world’s longest flight
Author: 0 Singapore Airlines to launch world’s longest flight

Its return will see the first use of the Airbus A350-900ULR. The 8,277 nautical mile (15,329 kilometer) flight from Singapore to Newark, New Jersey with 161 business class and premium economy seats will eclipse the 7,843 nautical mile Qatar Airways flight from Doha to Auckland as the world's longest , according to airline data provider OAG.

Economy CIBC Simplii Financial hack may have affected 40,000 customers
Author: 0 CIBC Simplii Financial hack may have affected 40,000 customers

According to a May 28th, 2018 Simplii Financial Facebook post , the bank has "implemented enhanced online security measures in response to a claim received on Sunday, May 27 that fraudsters may have electronically accessed certain personal and account information for some of our clients".

Economy Italy's Woes Exact A Toll On Wall Street
Author: 0 Italy's Woes Exact A Toll On Wall Street

The political upheaval will likely lead to new elections, and investors are interpreting the new vote as a referendum and that Italy could move closer to abandoning the euro if populist parties win the election. The United States also said on Tuesday that it would continue pursuing actions on trade with China, days after Washington and Beijing announced a tentative solution to their dispute and suggested that tensions had cooled.

Economy Petrol prices reduced one paisa and Rahul just can't believe it
Author: 0 Petrol prices reduced one paisa and Rahul just can't believe it

Companies have raised prices of petrol and diesel by Rs 3.80 and Rs 3.38 a litre respectively in the last 16 days after keeping a price freeze for about 19 days ahead of Karnataka elections. In a move that gives credence to the suspicion that the Centre continues to interfere with the pricing of fuel even after deregulation, state-owned oil marketing companies (OMCs) on Wednesday reversed their decision of hefty price cuts within hours, dashing expectations of relief.