Economy

Median household income rises despite falling full-time earnings

Median household income rises despite falling full-time earnings The Census data showed that median household income increased in 2017 to $61,372, an increase of 1.8 percent after taking inflation into account, and is considered to be the highest on record. "In 2015 and 2016, income growth was stronger and broad-based, with growth for low- and middle-income households tracking overall growth". Much of these gains in household income and workforce participatio... [Full Article...]

China welcomes US invite for trade talks, Asian markets relieved

Our markets are surging, theirs are collapsing. "They all found it very awesome how our specific industry has so much product. on the list and we were able to open up how that affects our industry as a whole", said Tiffany Zarfas Williams who owns the Luggage Shop in Lubbock, Texas. [Full Article...]

Erdogan appoints himself as head of Turkey wealth fund

Erdogan appoints himself as head of Turkey wealth fund Turkey's central bank raised its benchmark interest rate by the most since Recep Tayyip Erdogan came to power 15 years ago, countering the president's call for lower borrowing costs just two hours before the decision was announced. "Tight stance in monetary policy will be maintained decisively until inflation outlook displays a significant improvement". The embattled currency has fallen by ... [Full Article...]

Trump tariffs may jack up Apple Watch prices by 20%

Trump tariffs may jack up Apple Watch prices by 20% In addition, US stocks with a high exposure to China have underperformed the broader S&P 500 index since mid-June, when the White House announced the first tariffs. Ford promptly shot down such a prospect, responding that "it would not be profitable" for the company to build the auto in the USA because of the relatively low sales volume it has forecast. [Full Article...]

Miners in Australia discover massive chunks of gold worth millions

Miners in Australia discover massive chunks of gold worth millions Geologists are calling it a "once-in-a-lifetime discovery" especially since mining in the area had traditionally been geared towards nickel . Miners uncovered the unbelievable specimens in the first week of September at the 45-year-old Beta Hunt, which is operated by Canadian company RNC Minerals , and located near the small town of Kambalda, 630km east of Perth. [Full Article...]

IDBI officials knew of losses at Kingfisher, claims Mallya's lawyer

IDBI officials knew of losses at Kingfisher, claims Mallya's lawyer The 62-year-old former Kingfisher Airlines boss, who has been on bail on an extradition warrant since his arrest in United Kingdom last April, is fighting extradition to India on charges of fraud and money laundering amounting to around Rs. [Full Article...]

Vladimir Putin offers Kuril Islands peace deal to Japan's Abe

Vladimir Putin offers Kuril Islands peace deal to Japan's Abe Russian Federation and Japan have been in dispute for seven decades over the islands and as a result have still not formally ended their World War Two hostilities. "We are both fully aware that it will not be easy". "Putin does not expect anything", Kunadze told Echo of Moscow radio station. In response, Russian and Japanese foreign ministry officials pointed out that work on a future agreement ... [Full Article...]

Apple slides as trade war tensions overshadow the company's upcoming product launches

Apple slides as trade war tensions overshadow the company's upcoming product launches While the iPhone, which accounts for about two-thirds of Apple's total sales, hasn't been affected by the tariffs yet, this could change if the Trump administration follows through with earlier threats of levies on Dollars 500 billion in imports, which would cover just about everything China exports to the US. [Full Article...]

Median Household Income Rose 1.8% in 2017, Census Bureau Figures Show

Middle class income smashed expectations and reached an "all-time high" across the United States in 2017, according to new statistics released by the United States Census Bureau. "The equity markets and overall industry sentiment have picked up during President Trump's tenure, but he did inherit a relatively downward trend on the unemployment and income rates, among other metrics like poverty", sa... [Full Article...]

Dimon Says He Could Beat Trump in Election Because 'I'm Smarter'

Dimon Says He Could Beat Trump in Election Because 'I'm Smarter' Jamie Dimon , CEO of JPMorgan Chase, takes part in a panel discussion about investing in Detroit at the Kennedy School of Government at Harvard University in Cambridge, Massachusetts, U.S., April 11, 2018. Mr. Dimon has a mixed relationship with the President. Dimon later said he wished he hadn't said that, adding, "I'm not a political expert". The bank chief made the comments at a speaking ev... [Full Article...]

New iPhone could make history

Speculation includes talk that Apple will introduce three new iPhone models infused with features from a premium iPhone X that debuted previous year with a $1,000 price tag. Three new iPhone models are reportedly set to be announced, all of which based on the design of the iPhone X. In addition to 64GB and 256GB models, Apple will also offer a 512GB model. [Full Article...]

Trump tells Apple to make in USA to dodge China tariffs

Trump tells Apple to make in USA to dodge China tariffs The company said the tariffs will raise costs for USA -based technology companies that manufacture ICT products such as desktop computers, laptops and servers. The U.S. wants that coalition to include the European Union, Japan , and other allies. "Even if you had demand and volume, it's still very hard to build a small auto in the US profitably, which is why you find very few of them here". [Full Article...]

Oil Prices Climb Ahead of US Sanctions on Iran

Oil Prices Climb Ahead of US Sanctions on Iran The Brent contract has gained back nearly all of last week's decline and now we have the Russians warning about the impact of USA sanctions against Iran . A bigger-than-expected draw could drive prices sharply higher. Russian energy minister Alexander Novak on Wednesday warned of the impact of US sanctions against Iran. [Full Article...]

Apple accidentally reveals iPhone XR, iPhone XS and iPhone XS Max names

Apple accidentally reveals iPhone XR, iPhone XS and iPhone XS Max names A year later, Apple is preparing to unveil another slate of phones , but the design isn't expected to change significantly. Apple opened its event by saying its new Apple Watch Series 4 range will have edge-to-edge displays, like its latest phones, which are more than 30 percent bigger than displays on current models. [Full Article...]

Hurricane Florence track mapped: Latest path shows 'MONSTER' hitting North Carolina FIRST

Hurricane Florence track mapped: Latest path shows 'MONSTER' hitting North Carolina FIRST ABC reported that Boeing has stopped its operations in SC because of the threat. The report also said that some facilities for inmates in Virginia are also planning evacuations, according to the state's Departments of Corrections. Florence is so wide that a life-threatening storm surge was being pushed 300 miles (485 kilometres) ahead of its eye, and so wet that a swath from SC to OH and Pennsy... [Full Article...]

Petrol, diesel prices at all-time highs ahead of Ganesh Chaturthi

Petrol, diesel prices at all-time highs ahead of Ganesh Chaturthi In Maharashtra's Parbhani city , petrol cost Rs 90.05 a litre while diesel Rs 77.92 per litre, reported India Today . After Parbhani, in Amravati, one litre of petrol on Monday was Rs 89.46 while diesel was sold at Rs 78.69. The resulting revenue losses can be compensated through higher mobilisation of corporate taxes and doing away with corporate tax exemptions. Now, three months after, the p... [Full Article...]

Why Apple Products Are at Risk to Skyrocket in Price

Why Apple Products Are at Risk to Skyrocket in Price The Trump administration began imposing higher taxes on goods imported from China this summer. Apple added that computer parts for its US operations would be hit by the tariffs. Trump's increasing aggression toward China and his strong desires for increases in tariffs have many companies anxious. That helped fan concerns of trade tensions between Asia and the US, which led many Asian marke... [Full Article...]

Rajan traces NPA mess to banks’ excesses in 2006-08

Rajan traces NPA mess to banks’ excesses in 2006-08 A fraud monitoring cell - to coordinate the early reporting of cases to investigative agencies - had been set up when Rajan was RBI Governor. The list included the names of diamond merchants Nirav Modi and Mehul Choksi, but the PMO did not act and "this proves the complicity of prime minister's office", the Congress leader alleged. [Full Article...]

SEC Temporarily Suspends Trading Of Bitcoin And Ethereum ETN

SEC Temporarily Suspends Trading Of Bitcoin And Ethereum ETN In a statement, the SEC said trading was suspended as of 5:30pm Eastern Time and will continue until 11:59pm on September 20. In the last months, the SEC has taken a tough stance when it comes to approving ETFs that track cryptocurrencies , rejecting over nine Bitcoin ETF proposals from some companies. [Full Article...]

Man arrested for eating breakfast with woman in Saudi Arabia

Man arrested for eating breakfast with woman in Saudi Arabia A labour ministry statement on Sunday said an inspection team had visited the unidentified hotel in Mecca and detained the Egyptian for violations including working in a profession restricted to Saudis, without providing details. After the video went viral and sparked a torrent of criticism from conservatives, thousands of social media users took to Twitter to defend the Egyptian man, with the A... [Full Article...]


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