Economy

China hits back at USA with $60bn tariff threat

China hits back at USA with $60bn tariff threat The retaliation stands to further inflame tensions between the world's two biggest economies and echoes China's response to the previous round of tariffs, which took effect last month. China has said new duties will be applied only if Washington pulls the trigger on its new tariffs. "China trade battle. But I expect this will be resolved long before the Alaska project gets its federal building p... [Full Article...]

Pompeo presses Turkey on detained USA pastor after sanctions

Pompeo presses Turkey on detained USA pastor after sanctions Pastor Brunson is an innocent pastor and they need to let him return to the United States". Mr. Brunson had denied all charges and his case has become a cause celebre for USA evangelicals and the Trump administration. Brunson, 50, was arrested in December 2016 following a failed coup on charges of "committing crimes on behalf of terror groups without being a member" and espionage. [Full Article...]

"Don't Underestimate Trump": US After China Threatens Retaliatory Tariffs

The US and China implemented tariffs on $46 billion worth of each others' goods in July. " Any unilateral threat or blackmail will only lead to intensification of conflicts and damage to the interests of all parties ". China's finance ministry unveiled new sets of additional tariffs on 5,207 goods imported from the United States, ranging from 5 to 25 per cent. "I noticed today that Japan's stock... [Full Article...]

Apple Becomes First Company to Reach $1 Trillion Worth

Apple Becomes First Company to Reach $1 Trillion Worth Apple wasn't the first company to the $1 trillion market-cap mark. Passing the $1 trillion makes Apple worth more than the gross domestic product of all but 27 major countries - including Argentina, the Netherlands, Sweden and Switzerland. [Full Article...]

Bank of England Raises Interest Rates to Highest Level Since 2009

Bank of England Raises Interest Rates to Highest Level Since 2009 The Reserve Bank of India today hiked its repo rate by 25 basis points, for the second consecutive time. India's largest mortgage lender, on Thursday raised lending rates by 20 basis points following Wednesday's policy rate hike by the Reserve Bank of India. [Full Article...]

Apple is first public company worth $1 trillion

Apple is first public company worth $1 trillion Along the way, it has changed how consumers connect with one another and how businesses conduct daily commerce. Five years ago, Apple ranked 40th among companies in the S&P-500 Index by its annual operating profit margins, according to Bloomberg data. [Full Article...]

Sales tax free shopping coming this weekend

Sales tax free shopping coming this weekend The sales tax holiday runs through Sunday, August 5, and all retailers in the state are required to participate. This year the state sales tax rate is 4.45 percent. The policy is expected to cost the state almost $15 million in lost revenue. You can find more info on items that qualify for the exemption here . [Full Article...]

Chipotle closes OH location after customers report illnesses

Chipotle closes OH location after customers report illnesses The Delaware General Health District says it can't confirm anything until lab tests are back. A Chipotle spokeswoman told CNBC : "We acted quickly and closed this single restaurant out of an abundance of caution and we are working with the local health officials to reopen this restaurant as soon as possible". [Full Article...]

China urges US to return to reason on trade

This is down nearly 16 percent from the June peak, a period that coincides with the ramping up of tariffs by the United States, coupled with increasingly bellicose rhetoric. Benchmark U.S. government bond yields edged lower on Thursday as investors sought safe-haven debt while the dollar .DXY rose against a basket of currencies. [Full Article...]

Financial fruit: Apple becomes first trillion-dollar company

Financial fruit: Apple becomes first trillion-dollar company The stock has been surging this week as anticipation mounts for the next generation of iPhone, expected to be released in September. Amazon is worth almost $900 billion while Google and Microsoft are each now worth more than $800 billion. [Full Article...]

Salads, wraps at Trader Joe’s, Walgreens recalled due to possible parasite contamination

Salads, wraps at Trader Joe’s, Walgreens recalled due to possible parasite contamination Federal officials are warning consumers to be on guard for signs of intestinal distress if they've eaten any of more than two dozen types of salads and wraps sold by several major retailers around the U.S. The items in question at those outposts include Trader Joe's Tarragon Chicken Salad Wrap, Trader Giotto's Caesar Salad with Chicken, and Trader Ming's Chinese Inspired Salad with Chicken. [Full Article...]

Tesla loses $717.5mn in Q2, breaking own record from previous quarter

Tesla loses $717.5mn in Q2, breaking own record from previous quarter The recent addition of a new "tent" production line appeared to represent a parallel manual line for general assembly. The rocky results Wednesday will likely encourage Tesla skeptics who have criticized the company as underdelivering on its promise of reshaping the auto industry. [Full Article...]

Trump Hits Turkish Officials with Sanctions over Pastor Brunson's Detainment

Trump Hits Turkish Officials with Sanctions over Pastor Brunson's Detainment The statement came a few hours after the White House announced sanctions against Justice Minister Abdülhamit Gül and Interior Minister Süleyman Soylu over the continued detention of Pastor Andrew Brunson. The Turkish Ministry of Justice did not immediately respond to a request for comment. Turkey President Recep Tayyip Erdogan earlier warned the USA not to impose sanctions against his govern... [Full Article...]

McDonald's Introduces a Big Mac-Based 'Currency'

McDonald's Introduces a Big Mac-Based 'Currency' One way you can get them is to by entering the #BigMac50 contest on Twitter @McDonaldsCanada, from August 2nd until August 8th and sharing why they love the Big Mac. McDonalds says about 550 million Big Macs are sold annually, so in 50 years that's. um, well. a lot of Big Macs. The MacCoin was inspired by the Big Mac Index, a report that studies Big Mac prices across the globe to compare th... [Full Article...]

Samsung Galaxy Note 9 hands-on video leaked ahead of August 9 launch

Samsung Galaxy Note 9 hands-on video leaked ahead of August 9 launch This could refer to its "foldable" handheld device rumoured for launch in 2019, or the prototype bendable displays, branded Youm, it first showed off in 2013. Still, those have been high-end smartphones, which makes its presence on the Galaxy A series a bit more interesting. When folded, it will work as a phone , and can be unfolded to operate as a tablet. [Full Article...]

A humiliating Brexit deal risks a descent into Weimar Britain

A humiliating Brexit deal risks a descent into Weimar Britain A separate poll on Friday suggested that the proportion of voters who favour a referendum on the final terms of any Brexit deal had overtaken those who do not for the first time. Faith in Theresa May has plunged to record lows and nearly three quarters of people lack confidence she can get a Brexit deal. The remaining respondents said they didn't know. [Full Article...]

RBI monetary policy: Repo rate hiked by 25 bps

Reserve Bank of India hiked repo rate by 25 basis points. . One basis point is a hundredth of a percentage point. On Tuesday, five out of six policy members of RBI voted in favour of rate hike. A high repo rate means that banks borrow funds from the RBI at a higher rate, increasing their cost of funds. In a statement after today's meeting, the RBI's monetary policy committee said that the ... [Full Article...]

Tesla is making a $1500 surfboard

Tesla is making a $1500 surfboard Inspired by Tesla interiors, the surfboard features a high-quality matte and glossy finishes in carbon fibre for a lightweight and sturdy finish. Tesla is a brand that you would associate first with their cars . The company's online store features a wide selection of Tesla-themed clothing for men and women. "The board, 6'8" in length, apparently fits "inside or outside" of the Model S, X ... [Full Article...]

McDonald's employee body-slams milkshake-throwing woman

McDonald's employee body-slams milkshake-throwing woman It all started when a young lady allegedly tried to sneak out soda from the fountain machine in a water cup. The video shows the worker grab the woman, sling her around and then body-slam her into a table. "I wasn't even going to hit her but I get it, that's a big girl is coming towards you, you're going to panic, you freak out", she said. At some point, the woman behind the counter shouts somethi... [Full Article...]

Is Trump Winning His Trade War With Europe?

Is Trump Winning His Trade War With Europe? On July 24, the Trump administration unveiled its plan to offer $12 billion in aid to American farmers affected by retaliatory tariffs imposed by its trading partners in response to the growing USA -initiated trade war. The day after announcing the emergency aid, Trump and European Commission President Jean-Claude Juncker agreed to work toward "zero tariffs" and "zero subsidies" on nonautomoti... [Full Article...]


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