Economy

Dominic Raab 'stubbornly optimistic' about Brexit deal

Dominic Raab 'stubbornly optimistic' about Brexit deal Giving credibility to the notion that the recent fears of a "no deal" - which has put the Pound under notable pressure - were overblown is an assessment by lead UK Brexit negotiator Dominic Raab that the finalisation of an initial deal was 80% complete. [Full Article...]

Electric Scooters Go Live in Birmingham, Ala., But Are They Legal?

Electric Scooters Go Live in Birmingham, Ala., But Are They Legal? The controversial Bird electric scooters, which have become a national phenomenon, have landed in Birmingham, Ala. Two lesser-known companies scored a permit: Scoot Networks Inc., a San Francisco-based e-scooter startup that also provides on-demand e-scooter hiring in Barcelona, Spain and Skip (Waybots Inc.), another San Francisco-based startup. [Full Article...]

Ford won't sell Focus crossover in USA due to tariffs

Ford won't sell Focus crossover in USA due to tariffs The Focus Active would've been a more off-road-looking version of the Focus - think lots of plastic cladding - built in China and imported to the U.S. From our earlier reporting, the automaker is planning on having 90 percent of its products be trucks, SUVs or commercial vehicles by 2020. "That would mean that a lot of models would be withdrawn from the USA market". [Full Article...]

Panasonic plans United Kingdom office relocation before Brexit

Panasonic plans United Kingdom office relocation before Brexit Several other Japanese firms, including mega-banks Mitsubishi UFJ Financial Group Inc., Nomura Holdings Inc., Daiwa Securities Group Inc. and Sumitomo Mitsui Financial Group Inc., have said they are planning to move their main European Union bases out of London as well. [Full Article...]

Trump says 'no political necessity' to keep Canada in NAFTA

There was also a quote from the president that any new trade deal would be "totally on our terms". American and Canadian negotiators will return to negotiations Wednesday. Pelc said that Republican members of Congress as well as the U.S. Chamber of Commerce are "dead set" against a bilateral deal with Mexico. NAFTA, which came into effect at the beginning of January 1994, lifted tariffs on virtu... [Full Article...]

CBOE To Launch Ethereum Futures Later This Year

CBOE To Launch Ethereum Futures Later This Year According to Lee, futures contracts are in fact to blame for the crypto market's "gut-wrenching" drop , as his data revealed bitcoin's price dropped around CBOE futures expirations. " Cboe Global Markets , the exchange behind the first market for bitcoin futures, is telling market makers it is close to rolling out futures for ether, the second-largest cryptocurrency by market capitalizat... [Full Article...]

Trump freezes federal worker pay, citing 'serious economic conditions'

Trump freezes federal worker pay, citing 'serious economic conditions' David Cox Sr., national president of the American Federation of Government Employees, which represents some 700,000 federal workers. Trump is right to point out the scary fiscal situation. "Federal employees have had their pay and benefits cut by over $200 billion since 2011, and they are earning almost 5 percent less today than they did at the start of the decade", said J. [Full Article...]

ARGENTINA NEXT? Peso PLUNGES 45% as Currency Collapses

ARGENTINA NEXT? Peso PLUNGES 45% as Currency Collapses But the official acknowledged that Argentina rushed the announcement after several days of heavy spending of reserves by the Central Bank in a failed attempt to stabilise the peso. Part of that first tranche was meant to help shore up the peso, but after Macri revealed Argentina had asked for early release of the remaining funds, the peso started to plunge. [Full Article...]

Kentucky Fried Chicken will pay you to name your baby 'Harland'

Kentucky Fried Chicken will pay you to name your baby 'Harland' The restaurant chain says any child born September 9 with the name Harland is eligible to receive $11,000 toward the newborn's college tuition. The "Name Your Baby Harland" contest is open from September 9 to October 9 so you have a month to submit the birth certificate. [Full Article...]

Google's Secret Deal With Mastercard Tracks Offline Spending

Google's Secret Deal With Mastercard Tracks Offline Spending The data Google collected as part of the partnership allowed it to design a tool for advertisers that broke down whether people who clicked on an advert online later went on to purchase the advertised product inside a brick-and-mortar store. [Full Article...]

GDP growth gives India cause for celebration

GDP growth gives India cause for celebration Gross domestic product expanded by 8.2% in the three months to June , compared with a 5.5% rise in the same quarter past year, reinforcing India as one of the fastest growing economies. The cumulative growth rate of the core sector during the April-June quarter was 5.8%, the data showed. IIP manufacturing registered a growth of 5.2 per cent. [Full Article...]

New trade deal with Mexico ‘will be a big hit’

New trade deal with Mexico ‘will be a big hit’ Other hurdles include intellectual property rights, such as the U.S. -Mexico 10-year data exclusivity for biologic drug makers and extensions of copyright protections to 75 years from 50, all higher thresholds than Canada has previously supported. [Full Article...]

Trump won't compromise with Canada in NAFTA deal

Trump won't compromise with Canada in NAFTA deal Canadian Minister of Foreign Affairs, Chrystia Freeland, confirmed that no NAFTA agreement was reached with the USA on Friday. - Exemptions on cultural products: US lawmakers have called on Canada to weaken its protections for cultural industries that are exempted from the current NAFTA. [Full Article...]

Ford cancels Focus crossover model, cites Trump tariffs

Ford cancels Focus crossover model, cites Trump tariffs Ford (F) is scrapping the Focus Active , though it will continue to sell a sedan version of the Focus outside the United States. Ford told Automotive News that even if the tariffs were retracted, the company wouldn't change course and import the Active. [Full Article...]

India's Currency Hits Record Low Vs. Dollar On Rising Oil Prices

India's Currency Hits Record Low Vs. Dollar On Rising Oil Prices The Indian currency has now lost almost 10 per cent since January making it Asia's worst performing currency. Growing fears about rising inflation in amid high global crude oil prices and consistent outflow of foreign funds from the domestic equity market also weighed on the domestic currency. [Full Article...]

EU official wants to do away from winter-summer time change

EU official wants to do away from winter-summer time change Earlier, EU Trade Commissioner Cecilia Malmstrom told the European Parliament that Europe would be willing to cut vehicle tariffs to zero if the U.S was willing to do the same. FBN's Blake Burman with the latest on the progress in the Trump administration's trade negotiations with the EU. Trump has ordered his Commerce Department to investigate whether auto imports imperil national security, und... [Full Article...]

Indian economy grows at 15-quarter high of 8.2% in Q1

Data released on Friday showed manufacturing and consumer spending driving expansion, raising hopes that the rural economy was starting to turnaround. This means GVA also grew at 8 per cent. This is probably the best GDP trend we have seen in the first half helped by a favourable base. GVA, which is GDP minus taxes, serves as a more realistic proxy to measure changes in the aggregate value of ... [Full Article...]

Donald Trump threatens to withdraw United States from WTO

Donald Trump threatens to withdraw United States from WTO Washington has accused the WTO of infringing on U.S. sovereignty as some decisions have gone against the country. In July, Trump said the United States was at a big disadvantage from being treated "very badly" by the WTO for many years, adding that the Geneva-based body needs to "change their ways". [Full Article...]

Aston Martin planning London listing

Aston Martin planning London listing Pending a final decision, a prospectus will be published on or around September 20. Aston Martin's cars have featured regularly in the movies about Bond, the fictional British secret service agent. Production rates have lifted to the highest level since the 2008 financial crash, and will rise to as many as 7,300 cars next year. Daimler will retain its 5 per cent stake. [Full Article...]

Coca-Cola to acquire Costa Coffee for €4.3bn

Coca-Cola to acquire Costa Coffee for €4.3bn Coca-Cola Co has agreed to buy the United Kingdom chain Costa Coffee for £3.9 billion ($7 billion), stepping into a battle with Nestle and Starbucks Corp as it gains a global brand in hot drinks. Coca-Cola hopes to close the deal in the first half of next year, subject to shareholder and regulatory approvals. Whenever Alison Brittain, the chief executive of Whitbread, was asked in the past whet... [Full Article...]


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