Economy

Brics GDP rivals U.S. as O'Neill's view is nearly realised

Brics GDP rivals U.S. as O'Neill's view is nearly realised President Donald Trump. "The objective of this is to address perceived or actual imbalances in the global trading environment to the disadvantage of the largest or strongest economy in the world and not to re-balance of the interest of the majority of the interest of development", he said at a media briefing. [Full Article...]

FACEBOOK FAIL: Zuckerberg Loses $16 BILLION in FIVE MINUTES as Shares PLUNGE

FACEBOOK FAIL: Zuckerberg Loses $16 BILLION in FIVE MINUTES as Shares PLUNGE 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. The website pointed out, though, that Facebook's dual-class share structure may prevent the proposal from gaining steam. Within minutes it was down 15%, then 18%, then 24%. [Full Article...]

Saudi Arabia stops oil exports after Yemen rebels strike two tankers

It looks likely Iran ordered Houthis to launch attacks on oil shipment routes, with the objective of creating oil supply instability that will reverberate around the world, and drive prices to the roof. Oil prices fell on Friday, weighed down by a drop in the US equities market, but Brent was still set for a weekly increase, supported by easing trade tensions and a temporary shutdown by Saudi Arab... [Full Article...]

SEC Strikes Down Second Proposal for Bitcoin ETF by Winklevoss Twins

SEC Strikes Down Second Proposal for Bitcoin ETF by Winklevoss Twins The SEC originally rejected an application for the " Winklevoss Bitcoin Trust" previous year. Launching a bitcoin ETF could make it easier for investors to gain exposure to the cryptocurrency, analysts have said. By suggesting that bitcoin , as a novel financial product based on a novel technology that is traded on a non-traditional market, can not be the basis of an ETP, the Commission ... [Full Article...]

Fearless millennial investors are piling into Facebook after its earnings plunge (FB)

Fearless millennial investors are piling into Facebook after its earnings plunge (FB) At that price, his stake was worth $86.5bn, according to the Bloomberg billionaires index , below Microsoft's Bill Gates ($96.7bn) and Amazon's Jeff Bezos ($154bn). Analysts said the law contributed to the company losing 3 million daily users in the European Union during the second quarter, the first time it has seen such a dip. [Full Article...]

Donald Trump Says US And EU Will Work Towards 'Zero Tariffs' Trade

Donald Trump Says US And EU Will Work Towards 'Zero Tariffs' Trade Earlier in the Oval Office, Juncker told Trump that the two trading partners were "allies, not enemies", and said they needed to work together to address recent frictions involving Trump's threats to impose tariffs on auto imports and European Union plans to retaliate. [Full Article...]

Brexit: Deal or no deal? - TDS

Brexit: Deal or no deal? - TDS The Cabinet will also talk about making Brexit work throughout the United Kingdom and the role of Local Enterprise Partnerships in boosting growth and prosperity. "We did have some difficulty in the last two years in that sometimes there are mixed messages coming out of London and I suppose anything that suggests there'll be a single position - and we have had that since the meeting in Chequer... [Full Article...]

Donald Trump strikes trade deal with E.U

Donald Trump strikes trade deal with E.U The US imported roughly $46bn of the two metals in 2017. The meeting comes at a critical time for the trade relationship between the European Union and the U.S. We have identified a number of areas on which to work together, work towards zero tariffs on industrial goods. He said his primary focus was on working toward "zero tariffs on industrial goods". [Full Article...]

Winning ticket for $522 million jackpot sold in California

Winning ticket for $522 million jackpot sold in California But on Tuesday, it wasn't just the jackpot victor who got lucky. Since then, in May, a ticket sold in OH won a $142 million jackpot claimed by a trust. "This has been an exciting roll", said Mega Millions Lead Director Gordon Medenica, who also works as the Maryland Lottery and Gaming Director. Two, sold in MA and Texas, included the optional Megaplier (a $1 purchase available in most states) ... [Full Article...]

Facebook misses on revenue in Q2 earnings, stock tanks almost 8% (FB)

Facebook misses on revenue in Q2 earnings, stock tanks almost 8% (FB) The legislation, known as the General Data Protection Regulation, cost Facebook about 1 million users in Europe, he said. Shares tumbled 20 percent subsequent to the company reporting its second-quarter earnings - after the market closed. [Full Article...]

South Africa President Cyril Ramaphosa welcomes PM Modi

South Africa President Cyril Ramaphosa welcomes PM Modi Leaders from the five BRICS nations sounded the alarm Wednesday about what South Africa's president described as recent threats to multilateralism and sustainable global growth - a not-so-coded reference to a brewing trade war between the United States and BRICS' wealthiest member, China. [Full Article...]

Trump administration unveils $12B aid for farmers hurt by tariffs

Trump administration unveils $12B aid for farmers hurt by tariffs European leaders are trying to talk Trump out of imposing tariffs on imported cars and auto parts, anxious it would hurt both economies. The tariffs dovetailed with suggestions from Chinese policy advisers that Beijing make a "precision strike" aimed at agriculture and the Republican heartlands, in the hope of pressuring the president and his party before the midterm elections in Novem... [Full Article...]

Trump Races Toward 25 Percent Tariff on Auto Imports

Trump Races Toward 25 Percent Tariff on Auto Imports In return, countries have retaliated with tit-for-tat duties on everything from USA agricultural goods to Kentucky bourbon and Harley-Davidson motorcycles, aiming to sway top Republican lawmakers by hurting constituents in their districts. [Full Article...]

Certain Goldfish Crackers recalled due to salmonella risk

Certain Goldfish Crackers recalled due to salmonella risk The whey powder supplied to the company by a third party could be contaminated with the bacteria. Here's what you need to know. Pepperidge Farm launched an investigation into the matter and chose to pull the flavors from the shelves "out of an abundance of caution". [Full Article...]

Fiat Chrysler's Sergio Marchionne dies aged 66

In 2009, he organized a merger with Chrysler in the US and formed Fiat Chrysler Automobiles, becoming CEO of the new company. John Elkann, the chairman of FCA, issued a statement , saying, "Unfortunately, what we feared has come to pass. [Full Article...]

Mega Millions prize approaches half a billion dollars

Mega Millions prize approaches half a billion dollars The prize amount surged by $10 million, from $512 million to $522 million, within a few hours this morning. The last winning Mega Millions ticket, worth $142 million, was sold in Ohio. The top Mega Millions jackpots to date include $656M on March 30, 2012, $648M on December 17, 2013 and $536 M on July 8, 2016. The largest was a $91.8 million cash prize claimed by a Virginia man in 2015. [Full Article...]

Trump to Provide $12 Billion in Aid to Farmers. Critics Cry ‘Welfare!’

Trump to Provide $12 Billion in Aid to Farmers. Critics Cry ‘Welfare!’ Perdue's aid package, which had been in the works for months, comes under a Great Depression-era program called the Commodity Credit Corporation , a division of the Agriculture Department that was created in 1933 to provide a financial backstop for farmers. [Full Article...]

Johnson blasts Trump on trade, calls it 'Soviet' economy

Johnson blasts Trump on trade, calls it 'Soviet' economy Hours after news outlets reported the administration's pending program, Heitkamp announced she had introduced legislation to extend eligibility for direct financial assistance to farmers hit by retaliatory tariffs imposed on their exports. [Full Article...]

Images suggest North Korea dismantling satellite launch site

Images suggest North Korea dismantling satellite launch site In a tweet on Monday, Trump said he was "very happy" with the situation vis-à-vis North Korea following the June 12 summit, which he has hailed as a turning point in relations with the Pyongyang regime. But the Fake News is saying, without ever asking me (always anonymous sources), that I am angry because it is not going fast enough. The pictures provide evidence that the North Korean regime... [Full Article...]

Trump planning emergency aid to farmers affected by tariffs

Trump planning emergency aid to farmers affected by tariffs The US slapped tariffs on $34 billion of Chinese imports. While promoting the worldwide negations, Mr. Trump praised his hard-line trade strategy, saying slapping tariffs if the U.S.is treated unfairly is "simple". Farm groups have complained that moves by China and other countries in response to Trump's protectionist trade stance could cost them billions of dollars, spooking Republicans who... [Full Article...]


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