Economy

Oil prices mixed; Brent eases as trade tensions weigh

Oil prices mixed; Brent eases as trade tensions weigh Although trade tensions between the U.S. and China pushed oil lower for much of this month, Barclays Plc warned of " significant upside risk" for prices in the fourth quarter as sanctions begin to bite Iranian exports. Oil held an advance near $70 a barrel as the threat of production disruptions from the United Kingdom to Saudi Arabia loomed over global supplies. [Full Article...]

NYSE parent launches digital currency exchange

NYSE parent launches digital currency exchange Commodity Futures Trading Commission. The InterContinental Exchange said Friday it had formed Bakkt, a new exchange-like company for investors to trade bitcoin and other digital assets. "As a leader in Mobile Pay to our more than 15 million Starbucks Rewards members, Starbucks is committed to innovation for expanding payment options for our customers". [Full Article...]

Pregnant woman served cleaning solution instead of latte

Pregnant woman served cleaning solution instead of latte She took a sip before she realized that something wasn't right, The Globe and Mail reported. As she drove her son to a baseball tournament, she took a sip of the brownish liquid and immediately had to spit it out. She said she was anxious that if cleaning solutions such as the one used in the coffee maker were also used for juice, soft-serve or pop machines, a child could ingest the chemicals,... [Full Article...]

FDA: Nearly 400 now sickened by McDonald's salads

FDA: Nearly 400 now sickened by McDonald's salads According to the CDC , symptoms of a cyclospora infection include diarrhea, with frequent - sometimes explosive - bowel movements, loss of appetite, weight loss, fatigue, stomach cramps/pain, bloating, increased gas, and nausea. The FDA noted that ill patients from Connecticut, Tennessee and Virginia purchased salads while traveling in IL, and that the Florida patient purchased a salad in Kentu... [Full Article...]

Iran: China "pivotal" to salvaging its nuclear deal

Iran: China The UK, France, Germany, Russia, and China assured Tehran that they will continue buying Iranian crude and maintain trade and investment relations despite the return of US sanctions, although analysts are again skeptical that European oil companies will be able to conduct business in Iran after November 4. [Full Article...]

Almond milk recalled due to allergen

Almond milk recalled due to allergen The company is advising people who have an allergy or a severe sensitivity to real milk that they could have a life-threatening reaction if they consume these products. A representative from the company told CBS News that the plant where the almond milk was manufactured also manufactures dairy milk . The products were shipped to more than two dozen states, including Pennsylvania, Marylan... [Full Article...]

Trump proposes raising tariffs to 25% on $200 billion of Chinese imports

Trump proposes raising tariffs to 25% on $200 billion of Chinese imports So far, the trade war appears to have hit China's economy and financial markets harder than the United States, which has given the administration confidence that it is escalating from a position of strength. "China has to take necessary countermeasures to defend its dignity and the interests of its people". U.S. Trade Representative Robert Lighthizer said in a statement on Wednesday that Trump... [Full Article...]

Fiat Chrysler seeks to block USA sales of Mahindra 'Jeep'

Fiat Chrysler seeks to block USA sales of Mahindra 'Jeep' Alleging that it is almost a copy of the iconic Willys Jeep , the US-based auto company lodged a complaint with the US International Trade Commission on August 1, stating that the design elements of Mahindra's Roxor infringes some key design elements of Jeep. [Full Article...]

Adult Epipen in short supply in August: Health Canada

Adult Epipen in short supply in August: Health Canada People with life threatening allergies rely on them and right now adult Epipen injectors are in short supply some pharmacies like in Burlington have run out completely. NDP health critic Don Davies says the government must ensure the injectors, known as EpiPens , are always available in sufficient supply. "We understand and regret the challenges this situation continues to pose to patients", th... [Full Article...]

Apple is first public company worth $1 trillion

Apple is first public company worth $1 trillion Last year, sales had risen to $229bn and profits to $48.4bn, making it the most profitable public-listed U.S. company. Apple sold 41.3 million iPhones last quarter, and reported an average selling price of $724. Fast forward to 2017, and the firm recorded sales of $229 billion, with profits of $48.4 billion, a feat many chalk up to the debut of the iPhone and its continued successes. [Full Article...]

Molson Coors brewing cannabis drinks for Canadian market

Molson Coors brewing cannabis drinks for Canadian market The venture will be structured as a standalone start-up company with its own board of directors and an independent management team. Molson Coors Canada CEO Frederic Landtmeters said: "Canada is breaking new ground in the cannabis sector and, as one of the country's leading beverage companies, Molson Coors Canada has a unique opportunity to participate in this exciting and rapidly expandi... [Full Article...]

Apple just became the first $1 trillion public company

The iPhone maker's market value reached the figure in late morning trading in NY as its shares rose to a new record high above $207. Its stock has soared 9% since Tuesday when Apple's third-quarter earnings exceeded Wall Street's expectations. [Full Article...]

Turkey demands US reverse sanctions over pastor Andrew Brunson

Turkey demands US reverse sanctions over pastor Andrew Brunson The sanctions targeting Justice Minister Abdulhamit Gul and Interior Minister Suleyman Soylu freeze any property or assets on U.S. soil held by the two ministers, and bar USA citizens from doing business with them. Two Turkish employees of USA consulates in Turkey are also now in jail on terror charges and another is under house arrest, while several Americans have been caught up in the crackdow... [Full Article...]

Trump threatens higher tariffs on Chinese imports

Trump threatens higher tariffs on Chinese imports The threatened tariffs of 10 percent could rise to 25 percent on thousands of products, including food, chemicals, steel and aluminum, furniture, tires, bicycles and beauty products. Trump has ultimately threatened tariffs on over $500 billion in Chinese goods, covering virtually all USA imports from China. The administration had previously imposed 25 percent tariffs on $34 billion worth of Ch... [Full Article...]

Manufacturing activity eases in July: Nikkei

Manufacturing activity eases in July: Nikkei Elsewhere in the region, Vietnam recorded a "significant increase" to its PMI, which rose to 54.9. Supporting the overall expansion in the latest survey period was an accelerated increase of new export orders. The strongest growth in both production and new orders was seen among investment goods producers, while consumer goods manufacturing also "fared relatively well". [Full Article...]

Apple hits $1 trillion stock market valuation

Apple hits $1 trillion stock market valuation Its revenues today exceed the economic output of countries like Portugal and New Zealand. Apple's rise to a $US1 trillion market cap is also symbolic of the evolution of what kinds of companies are most valued by investors, and society at large. [Full Article...]

Sovereign bonds climb as BOJ maintains policy

Sovereign bonds climb as BOJ maintains policy The U.S. Federal Reserve concludes its policy meeting on Wednesday and the Bank of England is seen raising interest rates on Thursday. Estimates for the new yield target ranged from 0.1 percent to 0.2 percent. Investors remained cautious over the supply outlook and a potential hit to global output due to US sanctions on Iran. The greenback had pared some of its gains about two hours after th... [Full Article...]

Fed announces rate hike decision

Inflation remained near an internal 2% target, according to the Fed . The Federal Reserve on Wednesday (Aug 1) highlighted the strength of the USA economy and labor markets, a signal confirming interest rate increases are ahead, even as it held its fire for now. [Full Article...]

Google allegedly working on censored search engine for Chinese market

Google allegedly working on censored search engine for Chinese market Google has been working for more than a year on a new Search app for Android that would serve the Chinese market, but in the way the Chinese government wants it to operate. Accordingly, Google started to soften its rhetoric and tone on China within a couple of years after the Gmail hacking. According to the whistleblower, the new search engine is being built as an Android mobile app. [Full Article...]

Mnuchin insists agriculture was part of US-EU trade talks

Mnuchin insists agriculture was part of US-EU trade talks The Chamber of Commerce study estimated it would cost USA taxpayers an additional $27 billion if the same level of aid was extended to prop up other industries exposed to retaliatory tariffs. "I think the truce that was called lets us see how we can have conversations for the benefit of both the European Union and the United States, and for us that includes agriculture". [Full Article...]


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