Economy

Bookcases and biryani collide as IKEA tackles India - ET BrandEquity

Bookcases and biryani collide as IKEA tackles India - ET BrandEquity He promised that IKEA will offer affordability with great quality, accessibility with more stores and digital platform and it will be leader in sustainability. Around the time when Foreign Direct Investment (FDI) rules were eased in India, IKEA had shown interest in entering the Indian market. We have two ranges. [Full Article...]

Man who stole plane was funny, hardworking, former colleague recalls

Man who stole plane was funny, hardworking, former colleague recalls People like DeAndre Halbert will remember Russell as a former friend and co-worker eager to help him cover shifts and lend a listening ear. "We are working back ground on him now", the Pierce County Sheriff wrote. The 29-year-old ground service agent, whose name was not released, hijacked a 76-seat Q400 aircraft belonging to Alaska Airlines' regional carrier Horizon around 7:30 p.m. [Full Article...]

Tech stocks drive Nasdaq higher; Dow, S&P flat

Tech stocks drive Nasdaq higher; Dow, S&P flat The S&P 500 opened lower by 13.94 points, or 0.49 per cent, at 2,839.64. The S&P 500 is up 13.23 points, or 0.5 per cent. You worry about the effects on Europe. For the week, the Dow fell 0.6 per cent and the S&P 500 dipped 0.3 per cent. The Nasdaq added 27.09 points, or 0.3 per cent. "Any time that there's any movement in currencies, financials tend to reap the contagion risks", said ... [Full Article...]

Allegedly Suicidal Man Crash Lands Stolen Aircraft

Allegedly Suicidal Man Crash Lands Stolen Aircraft The plane crashed either while the man was doing stunts or because of a lack of flying skills, according to the Sheriff's Department. Gary is at Sea-Tac, I'm in Pierce County headed to where witnesses saw plane chased by F-15s, then a boom, and smoke. [Full Article...]

The US SEC Is Intensifying Its Probe of Tesla

The US SEC Is Intensifying Its Probe of Tesla He added that the financing was "insured" but did not give details. The board has also asked Musk to brief them on any funding plans that would allow him to take Tesla private, something that may or may not exist, according to a report by Thomson Reuters . [Full Article...]

Crocs to close all its manufacturing facilities, CFO resigns

Crocs to close all its manufacturing facilities, CFO resigns In a tweet shared Wednesday, the company said they "aren't going anywhere". In a news release Tuesday , the company announced no immediate plan into how it will continue to manufacture its products. "Our future is bright, bold and colorful". Crocs, based in Niwot in Boulder County, is also closing less productive retail stores as leases expire and focusing more on online sales. [Full Article...]

Elon Musk sued by investors over proposal to take Tesla private

Elon Musk sued by investors over proposal to take Tesla private The complaint alleges violations of US securities law and was filed Friday as a class action in federal court in San Francisco. This was the message given by Musk in his tweet, some three days earlier and what's more, he said the funds required to go through with that exercise, $72 billion, have also been tied up. [Full Article...]

Even American Condoms Are Screwed In The Trump-China Trade War

Even American Condoms Are Screwed In The Trump-China Trade War This is the final tranche of tariffs on $50 billion of Chinese goods that the Trump administration made a decision to impose in July, invoking Section 301 of the 1974 Trade Act. The firm action taken by China is meant to further deepen reform and opening up, and do well in its own affairs. The list covers items ranging from coal, medical instruments, waste products, to cars and buses. [Full Article...]

Turkey lira crashes as Trump piles on pressure

Turkey lira crashes as Trump piles on pressure U.S. President Donald Trump said on Friday he had authorised higher tariffs on imports from Turkey, imposing a 20 percent duty on aluminium and 50 percent one on steel , as tensions rose between the two North Atlantic Treaty Organisation allies over Ankara's detention of an evangelical pastor and other diplomatic issues. [Full Article...]

Plane crashes after airline employee's solo 'unauthorized takeoff' from Seattle airport

Plane crashes after airline employee's solo 'unauthorized takeoff' from Seattle airport The 29-year-old pilot was suicidal and appeared to have acted alone, the sheriff said , adding he was probably killed in the crash. There were no passengers aboard. The aircraft took off without authorization and without passengers Friday night with "an airline employee " at the controls, airport officials tweeted Friday. [Full Article...]

Monsanto ordered to pay $289m damages to cancer victim

Monsanto ordered to pay $289m damages to cancer victim Scott Partridge, the vice-president of Monsanto, reportedly released a statement after the verdict insisting that "glyphosate does not cause cancer, and did not cause Mr Johnson's cancer". Johnson's doctors said he is unlikely to live past 2020. "We are grateful to Mr. Johnson", he said, "for bravely facing down the "most evil corporation" in the world". [Full Article...]

Trump doubles steel and aluminium tariffs on Turkey as lira nosedives

Trump doubles steel and aluminium tariffs on Turkey as lira nosedives The lira slid to a fresh record low against the US dollar . The United States, the world's biggest steel importer, imposed tariffs of 25 percent on steel and 10 percent on aluminum in March for imports from a variety of countries. Lapid's praise for Trump came after the USA president announced the doubling of steel and aluminum tariffs on Turkey. Trump's announcement saw the Turkish ... [Full Article...]

Turkey Lira crisis in pictures: Locals sell wealth to save currency

Minutes before Ankara learned about the higher tariffs , the lira had already hit an all-time low of 6.87 against the dollar. U.S. President Donald Trump said on Friday he had authorised higher tariffs on imports from Turkey , imposing a 20 percent duty on aluminium and 50 percent one on steel , as tensions rose between the two North Atlantic Treaty Organisation allies over Ankara's d... [Full Article...]

Turkey's floundering economy exacerbated by Trump tariffs

But Israel released that woman last month, and pastor Andrew Brunson of North Carolina remains in a Turkish prison. Turkish Deputy Foreign Minister Sedat Onal (2nd-L) leaves after a meeting with U.S. Brunson's charges include spying for the PKK, listed as a terrorist group by both the US and Turkey, and the Fetullah Terrorist Organization (FETO), the group behind the defeated coup attempt in T... [Full Article...]

McDonald's McGold Card Offers Contest Winner Free Food For Life

McDonald's McGold Card Offers Contest Winner Free Food For Life McDonald's officially confirmed that the card exists and only a handful of people have ever gotten their hands on one. The victor of the McGold card will also be awarded with a customized 24-carat golden phone case to mark their membership into the history and mystery of McGold Card lore, all powered by the McDonald's App in 2018. [Full Article...]

Bitcoin (BTC) Price Plummets Below $6,500 Following Delayed ETF Decision

Bitcoin (BTC) Price Plummets Below $6,500 Following Delayed ETF Decision The fact that Bitcoin's dominance in the cryptocurrency market is now up to 48.8% also spells bad news for the market as it indicates that investors are pulling out of altcoins and into Bitcoin , after which they could be converting their funds into fiat currencies. [Full Article...]

Bitcoin is the Best House in a Tough Market: Fundstrat's Tom Lee

Bitcoin is the Best House in a Tough Market: Fundstrat's Tom Lee Major Altcoins like Ethereum , ripple , EOS and litecoin also followed BTC/USD's decline and tumbled. In conclusion , Michael Arrington, founder of TechCrunch and Arrington XRP Capital hedge fund, thinks that XRP (XRP ) outperforms Bitcoin (BTC ) and Ethereum (ETH ) regarding transactions speed and fees, a feat that, at the moment, can't be matched by BTC or ETH . [Full Article...]

Trump Doubles Tariffs On Steel, Aluminum From Turkey

Trump Doubles Tariffs On Steel, Aluminum From Turkey The Financial Times added to concerns with a report that the European Central Bank was anxious about possible losses at eurozone banks operating in Turkey. But neither should global investors over-react, suggested Kenningham, noting that Turkey accounts for just one percent of the world economy, slightly less than the Netherlands, making it not much of a risk to the world economy, or even the eu... [Full Article...]

Ryanair flights grounded as pilots strike

Ryanair flights grounded as pilots strike But a court said yesterday Ryanair pilots in the Netherlands could not be prevented from doing so. Hundreds of Ryanair flights will not take off as planned on Friday due to pilot strikes in five countries. The airline will hold talks via a mediator on Monday with the Irish pilots union, which said it had no current plans for further strikes. They even don't do a refund. [Full Article...]

Erdogan says attempts to exert economic pressure on Turkey futile

Erdogan says attempts to exert economic pressure on Turkey futile The Financial Times added to concerns with a report that the European Central Bank was anxious about possible losses at eurozone banks operating in Turkey . Though this is four times larger than Greece, it is still "less than half the size of the Italian economy, despite Turkey's larger population of around 80 million versus around 60 million for Italy", according to the analysis. [Full Article...]


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