Money

China warns of retaliation if USA takes more trade steps

China warns of retaliation if USA takes more trade steps In July, the Trump administration introduced 25-percent tariffs on Chinese goods worth $34 billion. "US pressure and blackmail won't have an effect". China immediately vowed to retaliate though at the same time urged the U.S. to act rationally and return to talks to resolve the dispute. In addition, the USA claims that China is stealing intellectual property despite the practice having bee... [Full Article...]

OH tax free holiday

OH tax free holiday During the three-day weekend, Florida shoppers won't have to pay the usual sales tax on many items such as clothes, shoes and school supplies . "Our Back-to-School Sales Tax Holiday is another way we are providing relief to Wisconsin's hardworking families", said Governor Walker. [Full Article...]

Apple officially becomes the first $1 trillion company

Apple officially becomes the first $1 trillion company The stock has been surging this week as anticipation mounts for the next generation of iPhone, expected to be released in September. For context, passing the $1 trillion mark means Apple now has a value greater than the gross domestic product (GDP) of all but 27 major countries, including Argentina, the Netherlands, Sweden and Switzerland, according to the CIA's world fact book . [Full Article...]

Tesla shares jump after cash burn worries abate, Musk apologizes to Street

Tesla shares jump after cash burn worries abate, Musk apologizes to Street One thing that stood out and caught investors' attention is the fact that the company's Model 3 auto helped set a new record: a total revenue of United States dollars 4 billion in one quarter. He and chief financial officer Deepak Ahuja wrote that they expected Tesla to build as many as 55,000 Model 3s this quarter, which would almost double output from the three months that ended in June. [Full Article...]

How Harley-Davidson plans to revamp itself amid flagging sales

How Harley-Davidson plans to revamp itself amid flagging sales Harley-Davidson is facing shrinking sales in its home market of the United States, and is hoping to broaden its appeal to new customers in a bid to invigorate sales. A year after its British counterpart Triumph inked a partnership with Indian motorcycle major Bajaj to make affordable motorcycles locally, America's iconic motorcycle maker Harley appears to be weighing a similar option. [Full Article...]

Facebook sued after stock plunge 'shocked' market

Facebook sued after stock plunge 'shocked' market Mr Kacouris said the marketplace was "shocked" when "the truth" began to emerge on Wednesday from the Menlo Park, California-based company. Facebook had the largest-ever loss of value in one day for a U.S. Both the slower growth forecast and heavier spending reflect problems largely of Facebook's own making. Many of those lawsuits have been reportedly consolidated in the federal court in San... [Full Article...]

Facebook's stock dives 20% on dire predictions following second-quarter financials

Facebook's stock dives 20% on dire predictions following second-quarter financials The investor purge came after the company revealed its user-base and revenue grew slower than expected as it grapples with privacy and censorship concerns. It recorded sales of $13.23 billion for the three months ended in June, short of the $13.3 billion Wall Street anticipated. Combine this pessimistic outlook with 1.54% user growth and 1.44% daily active users which are half of last quarter's gr... [Full Article...]

United Kingdom heatwave: Rain and wind warning issued for Wales

United Kingdom heatwave: Rain and wind warning issued for Wales Meanwhile, London's fire chief has called for barbecue bans to be imposed in the capital's parks after a record-breaking number of grass fires. There have been instances of patients and visitors have vomiting and passing out, with temperatures on some wards exceeding 30℃, according to the RCN, which also noted that some nurses were not allowed to take water bottles on to wards. [Full Article...]

U.S. vehicle tariffs still aren't off the table, warns German industry group

U.S. vehicle tariffs still aren't off the table, warns German industry group This caused the price of sorghum to drop significantly, and forced ships full of sorghum heading to China to change course. Trump had offered a similar sentiment Tuesday evening, when he suggested on Twitter the European Union and USA drop all tariffs, barriers and subsidies - although he predicted that the bloc would not be ready for such a proposal. [Full Article...]

Facebook lost approximately US$150 billion in two hours

Facebook lost approximately US$150 billion in two hours His fortune tumbled by $16.8 billion in late trading Wednesday, as shares of the social media giant slid 20 percent at 5:37 p.m.in NY on disappointing results. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share. Separately Wednesday, Facebook general counsel Colin Stretch, who advised the company through a series of probes and invest... [Full Article...]

Sergio Marchionne, recent Fiat Chrysler CEO, dead at 66

Italian President Sergio Mattarella: "Marchionne wrote an important page in the history of Italian industry". "Sergio created a remarkable legacy in the automotive industry", Mary Barra, chairman and CEO of General Motors said in a statement . [Full Article...]

Alphabet 2Q earnings: Here’s what to expect

Alphabet 2Q earnings: Here’s what to expect Net profit dropped to $3.2 billion from $3.5 billion, due to the fine, but analysts focused on operating results. "We delivered another quarter of very strong performance, with revenues of $32.7 billion, up 26 per cent versus the second quarter of 2017 and 23 per cent on a constant currency basis", Ruth Porat , CFO of Alphabet, said in a statement. [Full Article...]

Trump to announce support for farmers caught in trade disputes

Trump to announce support for farmers caught in trade disputes The imposition of punishing tariffs on imported goods has been a favored tactic by Trump, but it has prompted USA trading partners to retaliate, creating risks for the economy. They include such iconic American brands as Campbell Soup and Lockheed-Martin - which will have a model F-35 fighter jet on the White House lawn - to obscure manufacturers who make wine, brooms, horseshoes and animal feed. [Full Article...]

Trump Says Russia Will Help With North Korea Denuclearization

Trump Says Russia Will Help With North Korea Denuclearization Kim's meeting with the North Korean senior official is seen as part of an effort to strengthen bilateral cooperation through projects related to their shared history of the colonization of the Korean Peninsula. On Wednesday, Trump reaffirmed in a tweet that Russian Federation "had agreed to help with Noth Korea", adding sanctions he extended on Pyongyang earlier in April would remain in place. [Full Article...]

Oil Gains on Saudi Assurance It Won't Flood Market

Oil Gains on Saudi Assurance It Won't Flood Market The reason behind Trump's sensitivity about oil is the by-elections of the US Congress. However, I certainly believe that the market will be targeting this level. This shortfall would cause countries in the region to have to look to other suppliers to fill in the gap. If these trends continue, the price of USA crude could yet fall further. [Full Article...]

Missed Xiaomi 4th Mi anniversary sale? Wait for Amazon Prime Day

Missed Xiaomi 4th Mi anniversary sale? Wait for Amazon Prime Day When you sign up for Amazon Prime , your membership is set to automatically renew each year. Building on the success of new product launches past year, Amazon is launching the second edition of its highly anticipated Prime Day event this month. [Full Article...]

Trade War Conflict Escalates; Global Stock Markets Tumbles

Trade War Conflict Escalates; Global Stock Markets Tumbles Tesla is among companies hit by an additional 25 percent in import duties, imposed by Beijing in retaliation to a tariff hike by the Trump administration. Senate Finance Committee Chairman Orrin Hatch said the announcement "appears reckless and is not a targeted approach". While cranking up the tariff war, the U.S. [Full Article...]

Timeline: President's Donald Trump's rocky road to UK visit

Timeline: President's Donald Trump's rocky road to UK visit Donald Trump has said that the United Kingdom is in "turmoil" and it is "up to the people" whether or not Theresa May remains Prime Minister. Foreign Secretary Boris Johnson stepped down on Monday just hours after Brexit minister David Davis's resignation on Sunday evening, calling into question May's ability to deliver the vision of continued close ties with the European Union that she said... [Full Article...]

Iran tells Trump to stop tweeting about oil prices

Iran tells Trump to stop tweeting about oil prices On the US's official day of independence (July 4), the President repeated a threat that OPEC nations should lower their oil prices in return for the security support they receive from the US. "You are hammering on good guys in OPEC ", he said. Prices have risen as a result of Washington's plans to reimpose sanctions against Iran , OPEC's No. [Full Article...]

Iran tells Trump his tweets raised oil price

Iran tells Trump his tweets raised oil price Kazempour accused Trump of trying to ramp up tensions between Iran and its regional rival, Saudi Arabia . NAN reports that on Twitter, Trump called on OPEC countries, fresh from a meeting in which they chose to raise oil output by an indeterminate amount, to do more to bring down crude prices. [Full Article...]


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