Economy

Trump Administration Sanctions Russia Over Spy Poisoning, After Rebuke From Congress

Trump Administration Sanctions Russia Over Spy Poisoning, After Rebuke From Congress The State Department announced the penalties on Wednesday - a response to the poisoning last March of former Russian agent Sergei Skripal, 66, and his daughter Yulia, 33, in the British town of Salisbury. The Financial Stability Board - an worldwide body that monitors and makes recommendations about the global financial system, said in a 2018 report , that Russia's financial system "continued... [Full Article...]

What's driving Saudi Arabia's rapidly escalating feud with Canada?

What's driving Saudi Arabia's rapidly escalating feud with Canada? Among the arrested activists is Samar Badawi, whose writer brother Raif Badawi was arrested in Saudi Arabia in 2012 and later sentenced to 1,000 lashes and 10 years in prison for insulting Islam while blogging. Last year, Canadian exports to Saudi Arabia were nearly $1.5 billion, while imports from the Middle Eastern country were about $2.6 billion. Freeland said Canadians "expect" its forei... [Full Article...]

Suzuki Cheated On Mileage And Emissions Tests

Suzuki Cheated On Mileage And Emissions Tests Japanese officials announced Thursday that Suzuki Motor Corp., Mazda Motor Corp., and Yamaha Motor Co. have admitted to using falsified emissions data in vehicle inspections, according to multiple reports. According to the report, Suzuki found 6,401 out of 12,819 units were tested improperly since 2012. Mazda said it 72 vehicles or 3.8 percent of those in its sample were affected, whil... [Full Article...]

Undeterred by taxes, IKEA puts together cheap India pricing

Undeterred by taxes, IKEA puts together cheap India pricing Price is a key factor for the Swedish chain as it plunges into India, a huge new market where the average annual salary is less than $2,000. It will offer 7,500 affordable, value for money home furnishing products and 1,000 products will be priced below Rs 200. [Full Article...]

NYC Council approves cap on app-based ride-hail vehicles, citing congestion

NYC Council approves cap on app-based ride-hail vehicles, citing congestion GOP communications strategist Lee Carter said the ride-sharing cap campaign is less about driver wages and has more to do with congestion on the streets of NY. Ride-hailing companies aren't exactly pleased. Lawmakers who backed the measure cited congestion in the city and hoped that it would stop the decline in compensation for drivers, according to WABC in NY. [Full Article...]

United States tariffs on China: Trump administration adds $16 billion

United States tariffs on China: Trump administration adds $16 billion Thanks to the surge, the trade surplus narrowed by 42.6 percent to 176.96 billion yuan last month. The dispute has continued to escalate as the sides exchange threats, and Trump last week threatened to jack up the tariff rate on the next $200 billion in Chinese imports it plans to target to 25 percent, from the planned 10 percent. [Full Article...]

China to impose additional tariffs on $16B worth of USA goods

The U.S. action that prompted the Chinese retaliation was the latest by President Donald Trump to put pressure on China to negotiate trade concessions, after Washington imposed tariffs on $34 billion in goods last month. After a strong start to the year, growth in the world's second-largest economy cooled slightly in the second quarter, partly hit by the government's years-long efforts to ta... [Full Article...]

Tesla board mulls de-listing plan

Tesla board mulls de-listing plan The board has met several times over the last week and is taking the appropriate next steps to evaluate. The most obvious equity partners for Musk would be a sovereign wealth fund such as Saudi Arabia's Public Investment Fund (PIF), which sources said on Tuesday had taken a stake of just below 5 percent in Tesla, or a major technology investment fund such as SoftBank Group Corp's Vision Fund, ... [Full Article...]

Pound falls following Fox's no deal warning

Pound falls following Fox's no deal warning He said that Barnier had rejected Prime Minister Theresa May's latest plan, agreed by her cabinet, on the grounds that "we have never done it before". May hopes to conclude a divorce deal and the broad outline of a future trade agreement by October, giving the United Kingdom and European parliaments until Britain's scheduled departure in March to debate and vote on the package. [Full Article...]

Redesigned Snapchat sees users drop by 3 million for quarter

Redesigned Snapchat sees users drop by 3 million for quarter More than six months later, Snap is now blaming the same design for a decline in its daily active users. In prepared remarks in a call with analysts, CEO Evan Spiegel attributed this drop-off to the app redesign: "While our Monthly Active Users continued to grow this quarter, we saw a 2 percent decline in our Daily Active Users". [Full Article...]

Ola enters the United Kingdom in South Wales & Manchester

Ola enters the United Kingdom in South Wales & Manchester Indian ride-hailing firm Ola said on Tuesday it plans to launch services in Britain this year, months after expanding operations in Australia, intensifying its rivalry with USA peer Uber Technologies Inc. Globally it has over 1 million driver partners who generate around a billion ride every year. Features of Ola cabs in the UK: Ola says it will conduct Disclosure and Barring Service (DBS) s... [Full Article...]

US crude exports to India surge as China intake fades

US crude exports to India surge as China intake fades US sanctions on Iran's energy sector are set to be re-imposed after a 180-day "wind-down period" ending on November 4. Oil was trading at $74 per barrel of Brent benchmark, while the US West Texas Intermediate stood at $69.77 on Monday. [Full Article...]

Elon Musk's tweet about going private costs Tesla short sellers $1.3 billion

Elon Musk's tweet about going private costs Tesla short sellers $1.3 billion Prices seesawed in the range of $360 to $370, a roughly 7 to 8 percent rise for the day, while investors tried to decide whether Musk was joking. Separately, Financial Times reported on Tuesday Saudi Arabia's sovereign wealth fund, overseen by Crown Prince Mohammed bin Salman, has built an undisclosed stake of between 3 and 5 percent stake in Tesla. [Full Article...]

Doug Ford announces $1 beer by Labour Day weekend

Doug Ford announces $1 beer by Labour Day weekend It was one of Mr. Ford's signature campaign promises during the spring election, and on Tuesday the Ford government announced it was going ahead with a plan to lower the minimum price of a bottle or can of beer to $1 from the current $1.25. [Full Article...]

Dead fetus found by cleaners in American Airlines plane toilet

Dead fetus found by cleaners in American Airlines plane toilet While removing the toilet paper, the cleaner discovered the foot of what appeared to be a fetus, in the toilet, CBS News reports. The fetus was between three to six months along. LGA tweeted about a delay due to the incident. Officials at American Airlines said they were co-operating with the authorities. "We will release determination when investigation is complete". [Full Article...]

Elon Musk considers taking Tesla private

Elon Musk considers taking Tesla private Musk owns almost 20pc of the company. " Funding secured ", Musk wrote on Twitter. The stock had been up earlier in the day after The Financial Times reported a Saudi Arabian sovereign wealth fund had bought a $2 billion stake in Tesla. Mr. Musk has a history of joking on Twitter and sending erratic tweets. "We still would see risk to completion of such a deal", said CFRA analyst Efraim Levy. [Full Article...]

Company behind Nutella hiring 60 taste testers - no experience necessary

Company behind Nutella hiring 60 taste testers - no experience necessary Job site "Open-Job-Metis" posted the ad for the Italian company. A picture taken on January 8, 2014 shows a pot of Italian hazelnut and cocoa spread "Nutella" on a breakfast table in Inzell, Germany. Travel + Leisure explains select candidates would be picked to work on a long-term basis for two days every week for two hours when the training program wraps up. [Full Article...]

China threatens new tariffs on $60bn worth of USA goods

China threatens new tariffs on $60bn worth of USA goods He said: " President Trump inherited an unfair trade regime where American workers and American companies were not treated reciprocally or fairly by the Chinese, and the efforts of the Trump administration are to right that, to correct that". [Full Article...]

Facebook accused of asking banks for financial information about its users

Facebook accused of asking banks for financial information about its users The information would be used to offer new services to Facebook account holders. According to The Wall Street Journal ( WSJ ), the latest data partnership Facebook is pursuing could involve some of the US' biggest banking organizations. [Full Article...]

NASCAR Chairman Brian France Arrested For DUI, Drug Possession

NASCAR Chairman Brian France Arrested For DUI, Drug Possession He was arraigned Monday at Sag Harbor Village Justice Court and released. The 56-year-old was held overnight and released on Monday morning, according to police in Sag Harbor Village on New York's Long Island. France could not be reached for comment. Officers reportedly found oxycodone on France during a search. They cite sources, which claim that France name-dropped some famous names during the... [Full Article...]


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