Economy

Rescuers have freed four boys trapped in Thai cave

Rescuers have freed four boys trapped in Thai cave The rescue operation will now pause for at least 10 hours, according to Narongsak Osatanakorn, chief of the command centers coordinating the rescue, so that divers can replenish their oxygen tanks. They spent nine days unaccounted for inside the cave, before British divers found the emaciated and disheveled group huddling on a muddy bank. They were guided by expert divers who plotted the hours... [Full Article...]

Netflix is testing a new, more expensive "Ultra" tier for subscribers

Netflix is testing a new, more expensive News of the trial prices was confirmed by Netflix in a statement to CNET . It is said that the company would be allowing 4K platform allowing the customers to stream 4 screens at the same point of time and also the company promises to offer better HD quality in comparison to the existing premium plan quality. [Full Article...]

French Trade Deficit Widens In May

Canada has only recorded two monthly trade surpluses since October 2014. After struggling through the middle part of past year, exports had seen a revival in recent months due to a run-up in oil prices and stronger demand for non-energy exports. [Full Article...]

US unemployment rate jumps even though employers add more jobs than expected

US unemployment rate jumps even though employers add more jobs than expected Nevertheless, the yearly rise in average hourly earnings remains unchanged at 2.7 percent. "Despite ongoing concerns about being on the brink of a trade war, today's jobs report shows the continued strength of the economic recovery in the US", said Tony Bedikian, head of global markets at Citizens Bank. [Full Article...]

Hispanic Unemployment Falls to LOWEST LEVEL in US HISTORY — RECORD SMASHED

The U.S. central bank raised interest rates last month for the second time this year and has projected two more rate hikes by year end. Yet its path ahead is uncertain. But in fact more people entering the workforce is a sign of optimism that jobs are available. Economists had predicted 195,000 payroll gains amid a shortage of available workers to fill jobs. [Full Article...]

Job growth remains steady, but jobless rate ticks higher

This suggests renewed economic optimism among less-skilled or less-educated workers. The dollar fell to a three-week low against a basket of currencies on the employment report . "Contacts expressed concern about the possible adverse effects of tariffs and other proposed trade restrictions", the Fed said in minutes published Thursday. [Full Article...]

Mark Zuckerberg tops Buffett to become world's third-richest man

Mark Zuckerberg tops Buffett to become world's third-richest man Zuckerberg's net worth passed Buffett's on Friday after Facebook shares went up 2 .4%. The 34-year-old now trails behind Amazon founder Jeff Bezos and Microsoft co-founder Bill Gates , taking over the third spot from Buffett on Friday, Bloomberg reported. [Full Article...]

Wireless speaker maker Sonos is going public

Wireless speaker maker Sonos is going public Per Sonos's S-1 filing Friday, the company had more than 19 million registered speaker products in 6.9 million households globally as of March 31, 2018. In terms of risk factors, the company points to its history of losses, the unpredictability of its revenue growth and the fact that it operates in "highly competitive markets" and is "dependent on partners who offer products that compete with ou... [Full Article...]

Oil Slips as U.S. Crude Stockpiles Show Surprise Build

Oil Slips as U.S. Crude Stockpiles Show Surprise Build High oil prices make fracking more economically viable for the USA, now the third largest producer of oil worldwide. Rising gasoline prices could create a political headache for Trump before November mid-term congressional elections by offsetting Republican claims that his tax cuts and rollbacks of federal regulations have helped boost the U.S. [Full Article...]

Trump unleashes trade war with tariffs on China

Trump unleashes trade war with tariffs on China BEIJING, July 6 - China said today it was "forced to take necessary countermeasures", after Washington launched what Beijing called "the largest trade war in economic history", imposing tariffs on billions of dollars in Chinese imports. [Full Article...]

Micron Rallies as It Says Injunction in China Won't Affect Its Quarter

Micron Rallies as It Says Injunction in China Won't Affect Its Quarter In response, UMC filed patent infringement lawsuits against Micron with the mainland China courts in January of 2018, covering three areas, including specific memory applications related to DDR4, SSD and memory used in graphics cards. [Full Article...]

China Says U.S. Has Started ‘Biggest Trade War’ in History

China Says U.S. Has Started ‘Biggest Trade War’ in History Beijing's tariffs will have the biggest impact on soybeans, the United States' top agricultural export to China in 2017 worth about $12.7bn, hurting USA farmers in states, such as Iowa and Texas, which backed Republican President Donald Trump in the 2016 election. [Full Article...]

Retaliatory Measures Against US Tariffs Already In Effect, Says China

He has also expressed growing concern about intellectual property rights in high-tech industries, centered around the " Made in China 2025 " policy, which aims to turn the country into a technological superpower. Ningbo Top East Technology Co., which makes soldering irons in Ningbo, south of Shanghai, used to export 30 per cent of its output to the United States, according to its general manager, ... [Full Article...]

Edmonton unemployment rate remains above national average

Edmonton unemployment rate remains above national average In Alberta, the unemployment rate increased to 6.5 per cent of the workforce from 6.2 per cent the previous month. USA job growth increased more than expected in June as manufacturers stepped up hiring, but steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases. [Full Article...]

China accuses Trump of launching ‘the biggest trade war in economic history’

China accuses Trump of launching ‘the biggest trade war in economic history’ China's Ministry of Commerce also said it would look to report the U.S.to the World Trade Organization (WTO) on Friday, accusing Washington of breaching worldwide trade laws. Trump kicks off his visit to Europe at a summit of leaders of North Atlantic Treaty Organisation countries in Brussels on Wednesday and Thursday where he is expected to hammer home his calls on other countries to spe... [Full Article...]

Elon Musk to Help Youth Soccer Team Trapped in Thailand Cave

Elon Musk to Help Youth Soccer Team Trapped in Thailand Cave Crews located the boys about two kilometres from the cave's entrance following nine days of searching. The billionaire's team is said to be talking with Thai authorities about the possibility of using SpaceX and Boring Company technology to help rescuers retrieve the young players and their coach from the depths of the Tham Luang Nang Non cave complex. [Full Article...]

ZTE replaces its CEO and other top execs

ZTE replaces its CEO and other top execs ZTE Corp. has replaced its entire executive team as the company scrambles to comply with the conditions of a deal that will allow it to regain access to US technology. The sales ban was still in effect on Thursday, a person familiar with the matter said, though earlier this week the Commerce Department said it would grant a one-month waiver to some companies to resume doing business with ZTE. [Full Article...]

New Brunswick's economy bled 1,100 jobs in June, pushed unemployment rate up

The unemployment rate in Windsor dipped slightly last month, but so too did the labour participation rate . The number, however, did come down from its nine-year high in May of 3.9 per cent. Manufacturers added 36,000 jobs last month; the education and health sector added 54,000. Automakers added 12,000 jobs in June, but the tariffs could weigh on that industry's job growth in the coming months... [Full Article...]

Remainder of Barton bourbon storage house collapses

Remainder of Barton bourbon storage house collapses Environmental and wildlife officials were on the scene to determine if any whiskey spilled into a nearby waterway, he said. In a news release sent Wednesday afternoon, Barton 1792 Distillery - owned by the Sazerac Company - says its team was prepared to deal with any further problems, because of the first collapse. [Full Article...]

Uber faces de-merger from Singapore competitor Grab after fare hike

Uber faces de-merger from Singapore competitor Grab after fare hike Under the deal, Uber received a 27.5% stake in Grab - worth several billion dollars - in exchange for the United States company's operations in eight southeast Asia countries. She said the CCCS' proposed measures "go against Singapore's pro-innovation and pro-business regulations in a free market economy". However, it stressed that it is now seeking public feedback on whether unwinding would res... [Full Article...]


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