Economy

US Will Almost Certainly Miss NAFTA Deadline

A preliminary trade agreement reached in August by the United States and Mexico would rewrite parts of NAFTA and establish stricter requirements for cars sold in North America to be free of tariffs. The trade agreement, which took effect in 1994, removed most trade barriers between the U.S., Canada and Mexico, leading to a boost in trade, but it encouraged U.S. [Full Article...]

Federal Reserve hikes rates for third time this year

Federal Reserve hikes rates for third time this year In a change from last month, the Fed's statement did not describe its rate policy as "accommodative", which was read as an acknowledgment that rates have moved closer to the level which neither boosts nor holds back the economy. The tariffs Trump has imposed on imported steel and Chinese goods, in particular, complicate the Fed's decision-making. It also raised its projection for growth in 2019 ... [Full Article...]

ABC chair resigns over Australian political interference claims

ABC chair resigns over Australian political interference claims ABC News Director Gaven Morris says he has told staff to hold their heads high and do their jobs well amidst the latest stories. "Nobody ever told me to hire anybody, fire anybody or do anything else", Mr. The conservative coalition has long complained of a leftist bias in ABC reporting. The ABC is set to lose its second leader in four days. Staff in Sydney called for Mr Milne to stand d... [Full Article...]

Import duty hikes on 19 products

Import duty hikes on 19 products The new rates will be applicable from September 27. "The total value of imports of these items in the year 2017-18 was about ₹86,000 crore". Customs duty on aviation turbine fuel has been increased by 5 per cent. "However, this hike in duty may not impact importers who procure from countries with which India now has beneficial free-trade agreements", he said. The increase in import dutie... [Full Article...]

Royal Mail beg recycling campaigners to stop posting crisp packets

Royal Mail beg recycling campaigners to stop posting crisp packets The postal service has asked the public to use envelopes - or risk their empty packets of Walkers being lost. "Social media users have posted photos of themselves mailing empty Walkers packets back to the company with the hashtag " #PacketInWalkers ". [Full Article...]

Donald Trump accuses China of interfering in United States midterm elections

On Tuesday, Trump had extended "special thanks" to Xi for support of USA efforts to get North Korea to commit to denuclearization. Since taking office, Trump has removed the US from the Paris climate accord, promoted protectionist tariffs and questioned the value of North Atlantic Treaty Organisation. [Full Article...]

Fed rate hike this week 'as certain as can be'

Also, when Powell holds a press conference starting at 2:30 p.m. ET, he'll likely be asked about the risks of a trade war to the economy. "I'm anxious about the fact that they seem to like raising interest rates", the president added. Wall Street did not appear terribly happy about the Fed decision, and after an initial uptick the 3 major stock indexes finished the day lower, although such mo... [Full Article...]

Use of 'distracted boyfriend' meme in recruitment ad is sexist, watchdog rules

Use of 'distracted boyfriend' meme in recruitment ad is sexist, watchdog rules The original picture, a stock image titled " Disloyal Man Walking With His Girlfriend and Looking Amazed at Another Seductive Girl ", was taken in mid-2015 by 45-year-old professional photographer Antonio Guillem from Barcelona. The watchdog acknowledged the humorous intent of the meme, as well as its popularity online. "Do you want us to switch supplier from Bahnhof to someone who does not do... [Full Article...]

USA 'dream' of halting Iran's oil exports won't come true: minister

Brent hit US$82.55 per barrel, its highest since Nov 10, 2014. Crude oil prices touched new four-year highs yesterday as Brent crude - the worldwide benchmark for crude oil - touched $82.20 a barrel. Iran's Naftiran Intertrade Co Ltd, a trading arm for state-owned National Iranian Oil Co, owns a 15.4% stake in Chennai Petroleum, which has two refineries with a total combined capacity of 230,00... [Full Article...]

Trump says he rejected meeting with Trudeau over trade fight

Trump says he rejected meeting with Trudeau over trade fight That came after the incident on Tuesday in which Trump appeared to rebuff Trudeau when he approached to shake hands, even though the Canadian leader downplayed the incident. Under U.S. trade law, the administration is required to submit to Congress a finalized, written agreement 60 days before it intends to sign it. The 2 sides also are at odds over the dispute resolution provisions in NAFTA. [Full Article...]

Argentina names Sandleris as new central bank chief - statement

Argentina names Sandleris as new central bank chief - statement Argentina's economic woes have been exacerbated by a severe drought this year that crippled the vital grain export sector. Another economist, Fausto Spotorno, told the AFP news agency Caputo was never seen as a long-term fixture and "the government's priority is an agreement with the IMF ". [Full Article...]

US Federal Reserve raises interest rates amid strong growth

US Federal Reserve raises interest rates amid strong growth It raised its forecasts for economic growth next year. Most economists expect the Federal Open Market Committee to again hike rates in December. The decision, which had been widely expected, raised the federal funds rate by 25 basis points, to a range of 2% to 2.25%. [Full Article...]

Fed announces interest rate decision

Central bankers are gathering under a long shadow cast by President Donald Trump, who has attacked the Fed's plans for continued rate hikes , which he says counteract the benefits of recent tax cuts and economic growth, and ratcheted up an unprecedented trade war with China. [Full Article...]

NAFTA deal ‘meaningless’ without protection from Trump auto tariffs, Canadian ambassador says

The President's warning hangs over the fate of hemispheric trade, with no NAFTA deal in sight ahead of USA -imposed deadline of September 30. Whether the US could actually proceed with a separate bilateral deal with Mexico, absent Canada, is a matter of debate. [Full Article...]

Google to allow certain cryptocurrency ads in U.S., Japan

Google to allow certain cryptocurrency ads in U.S., Japan Facebook , Twitter , Snapchat, and Bing have also banned cryptocurrency-related ads at various points this year. This ban would go into effect in June 2018. It now appears that Google feels that regulated cryptocurrency exchanges are not the kind of threat to the consumers they considered them to be and hence, the ad-ban is being reversed for regulated cryptocurrency exchanges. [Full Article...]

Just Dunkin: Dunkin Donuts to change its name

Just Dunkin: Dunkin Donuts to change its name Boston Magazine reported on the Dunkin' Donuts name change previous year, calling it an "identity crisis" that could only be described as "disyllabic horror". The company also has simplified its menu, expanded mobile ordering and launched new items like Donut Fries. "We are now on a first-name basis with America", Chief Marketing Officer Tony Weisman said explaining the change. [Full Article...]

Hedge funds bet on shortage of Brent oil: Kemp

Hedge funds bet on shortage of Brent oil: Kemp Brent crude- the benchmark for more than half the world's oil - rose 2.5 per cent today, the highest since November 2014. OPEC leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia , on Sunday effectively rebuffed a demand from Trump for moves to cool the market. [Full Article...]

Iran: US wish to halt Iran's crude exports won't come true

OPEC members do not have the capacity to increase production, Zanganeh said. It could cause Washington to take extraordinary steps, including the use of the Strategic Petroleum Reserve, to cool down the crude oil and other fuel prices ahead of the USA mid-term elections. [Full Article...]

Brexiteers back UK-EU free trade plan

Brexiteers back UK-EU free trade plan But she is facing increasingly vociferous calls from Tory Brexiteers to abandon Chequers in favour of a more basic free trade agreement in goods along the lines agreed between the European Union and Canada. At the Cabinet meeting in 10 Downing Street, Mrs May said it had always been clear that negotiations would at some point come to a critical stage. "In those circumstances the prime minister w... [Full Article...]

Delegates at Labour conference overwhelmingly back People's Vote motion

Delegates at Labour conference overwhelmingly back People's Vote motion He added that if parliament rejects May's deal, the party would press for a general election, and if this was not possible, "other options must be kept open". The passing of this motion has left the door open to Labour backing a people's vote on Brexit, reflecting what the vast majority of Labour members and voters want - and a majority in the country want. [Full Article...]


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