Economy

Nvidia Falls 5% as Demand for Crypto-Related Chips Dries Up

Nvidia Falls 5% as Demand for Crypto-Related Chips Dries Up Following Thursday's closing bell, Nvidia announced second-quarter earnings of $1.94 a share on revenue of $3.12 billion. Revenue: $US3.12 billion where analysts had expected $US3.11 billion. "Developers are jumping on the GPU-accelerated computing model that we pioneered for the boost they need". Fortunately, Nvidia's growth in other segments seems to be unaffected, with an 82.6 ... [Full Article...]

Only 2 out of 3 now in Talks — NAFTA Negotiations

Only 2 out of 3 now in Talks — NAFTA Negotiations Mexico's economy minister on Wednesday said that Mexico and the United States may not meet an August goal to finish bilateral talks to revamp the Nafta trade deal, which is beset by disagreements over automobile trade rules and other issues. [Full Article...]

Tesla sues Ontario over canceled electric vehicle rebate

Tesla sues Ontario over canceled electric vehicle rebate Tesla, which confirmed it filed a lawsuit with the Ontario Superior Court on Thursday, said in its application for judicial review that the Ministry of Transportation excluded the electric vehicle maker from its transition plan after it scrapped the rebate program. [Full Article...]

Elon Musk Tesla New York Times Interview

Elon Musk Tesla New York Times Interview On top of that, the company's battery Gigafactory outside Reno, Nevada is still only partially complete, and Musk has said that an announcement about a European plant will likely come by the end of this year. Musk said he wasn't aware that the search for such an executive was now active, but the Times quoted other sources as saying such a search was indeed underway. [Full Article...]

House of Fraser website down following payment dispute

House of Fraser website down following payment dispute Sports Direct is adamant however that it will not honour debts owed to supplier from before last Friday, when it assumed ownership of the business. According to reports, fashion brands Jigsaw, Karen Millen and Mint Velvet have removed some stock from their House of Fraser concessions. [Full Article...]

Trump asks SEC to study six-month reporting system for public firms

Trump asks SEC to study six-month reporting system for public firms The SEC was created in 1934 in the midst of the great depression and requires publicly-traded companies to issue quarterly and annual earnings reports to keep the public informed on their operations and financial situation. We start preparing three weeks in advance every quarter, essentially taking nearly a third of executives´ time each quarter, ' said Bryan Sheffield, chief executive of shale ... [Full Article...]

Elon Musk and Tesla Subpoenaed by The SEC Over Tweet

Elon Musk and Tesla Subpoenaed by The SEC Over Tweet On Tuesday, Musk tweeted that Tesla had hired investment advisors from Goldman Sachs and Silver Lake Capital to help facilitate the buyout. The PIF has many claims on its resources and $250bn in assets, over 50% of which are tied up in large Saudi companies whose stocks could be hard to sell en masse, according to Reuters , in addition to substantial commitments to other technology companies ... [Full Article...]

USA threatens more Turkey sanctions if pastor not freed

USA threatens more Turkey sanctions if pastor not freed The United States and Turkey have imposed tit-for-tat tariffs in an escalating attempt by Mr Trump to induce Mr Erdogan into giving up the pastor. The lira hit a record low of 7.24 against the USA dollar over concerns about President Tayyip Erdogan's grip on monetary policy and an ongoing row with the United States. [Full Article...]

USA threatens more action against Turkey unless pastor freed

USA threatens more action against Turkey unless pastor freed Gallego said that Brunson's lawyer had indicated he would be willing to take his client's case to the constitutional court. "We have more that we're planning to do if they don't release him quickly", Mnuchin told a cabinet meeting, without elaborating on what would be involved. [Full Article...]

More than 1 000 Google workers protest censored China search

More than 1 000 Google workers protest censored China search Google co-founder Sergey Brin at the same staff meeting said the search giant would not compromise its principles. Chief executive Sundar Pichai told staff that Google is in the "early stages" of considering a return to China , Bloomberg reported , but that the company is not close to finalizing a search product. [Full Article...]

Turkish lira firms despite US warning of more sanctions

USA treasury secretary Steven Mnuchin yesterday said to Mr Trump that further sanctions are ready to be put in place. "We have more that we are planning to do if they don't release him quickly". Investors also fret over Erdogan's influence over monetary policy. Mr Trump said: "They want to hold our wonderful pastor". He has denied the charges, and his case has been taken up by US Presid... [Full Article...]

SpaceX could fund bid to take Tesla private

SpaceX could fund bid to take Tesla private Is there someone who can do the job better? However, the Times reports, "people familiar with the matter said a search is underway, and one person said it had intensified in the wake of Mr. Musk continues to have an unhealthy obsession with short sellers of Tesla's stock. Musk said in the interview he has no plans to relinquish his dual role as chairman and chief executive officer. [Full Article...]

Anger grows in Italy as bridge toll hits 39

Anger grows in Italy as bridge toll hits 39 The Atlantia holding company that controls Italy's main highway operator says the concession can not be revoked without citing specific failures by the company in the deadly bridge collapse in Genoa. The anti-establishment Five Star Movement (M5S) faced scrutiny Wednesday because in 2013 its Genoa activists had opposed a planned road bypass. And Canada's Globe and Mail reports that "mafia-... [Full Article...]

Turkish firms cancel iPhone orders amid United States products boycott

Turkish firms cancel iPhone orders amid United States products boycott Qatar defied US President Donald Trump on Wednesday and promised to plough $15 billion into Turkish financial markets and banks, amid a collapse in the value of the lira and a looming trade war between Turkey and the United States. Ankara hit back with duties of up to 140% on alcohol, 120% on cars and a boycott of electronic products , including the iPhone. Turkey has responded by declari... [Full Article...]

Trump says his steel tariffs will save the USA industry

Trump says his steel tariffs will save the USA industry In order to protect its trade interests, China has deemed necessary to resort to the WTO dispute settlement mechanism. Only a fraction went to the United States , with India the biggest market. The president has also said the tariffs have been created to promote better trade deals. A spokesperson from China's Ministry of Commerce said on Tuesday that the tariffs are suspected of violating WTO... [Full Article...]

Turkey hits back at United States with tariff hikes on key products

Turkey hits back at United States with tariff hikes on key products But the Gulf country also shares a strategic partnership with the United States , hosting a military base that serves as one of Washington's most important overseas military bases with operations throughout the Middle East. On Wednesday, a Turkish court rejected his latest appeal to be released from house arrest. In his televised speech yesterday, Erdogan vowed that Turkey will " boycott U... [Full Article...]

NZ dollar dips as investor fears over Turkish economy ease

NZ dollar dips as investor fears over Turkish economy ease The main Japanese market , the Nikkei 225, erased early gains to close 0.68% down on the day, giving back some of the ground made on Tuesday when it jumped by more than two percent . "We view the policy of sanctions as unlawful and illegitimate, driven mostly by a desire to dominate everywhere and in everything, dictate policies and call shots in global affairs", Lavrov said. [Full Article...]

Turkey court rejects new appeal to free detained United States pastor

Turkey court rejects new appeal to free detained United States pastor Tensions between the two North Atlantic Treaty Organisation allies have been strained amid Turkey's detention of American pastor Andrew Brunson . The Trump administration said on Wednesday that Erdogan's imposition of retaliatory tariffs against the US were "a step in the wrong direction". [Full Article...]

China printing Indian currency notes, says report

China printing Indian currency notes, says report Is China printing Indian currency? Referring to president of the China Banknote Printing and Minting Corporation Liu Guisheng's article the report said that, two years after the launch of the belt and road plan (2013), the company "successfully won contracts" for currency production projects in a host of countries including Thailand, Bangladesh, Sri Lanka, Malaysia , India , Brazi... [Full Article...]

United Kingdom jobless rate falls to new 43-year low

United Kingdom jobless rate falls to new 43-year low Tuesday´s data also showed productivity grew at its fastest annual rate since late 2016 and the number of people whose main job was an insecure zero-hours contract fell by the most since 2000, the Office for National Statistics said. The British unemployment rate shrugged off Brexit worries to reach a low not seen for 43 years, according to data released on Tuesday. The economic inactivity r... [Full Article...]


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