Economy

'We will not stand down,' VP Pence warns China

'We will not stand down,' VP Pence warns China After Trump's accusations directed at China last week, Wang Yi, China's Minister of Foreign Affairs, rejected the charge directly while in NY for the United Nation's General Assembly. "It's using wedge issues, like trade tariffs, to advance Beijing's political influence". Pence's speech comes amid rumors that the USA military is proposing a "major show of force" near China's territorial waters i... [Full Article...]

Chinese spying microchips found in Apple, Amazon computers

Chinese spying microchips found in Apple, Amazon computers China's Ministry of Foreign Affairs did not immediately respond to a written request for comment on Thursday. These chips could then reportedly be activated to compromise the networks of enterprise companies. Supermicro rep Perry Hayes wrote: "We remain unaware of any such investigation". "It's also untrue that AWS knew about servers containing malicious chips or modifications in data center... [Full Article...]

Four states announce additional cut in fuel prices after Centre’s move

Four states announce additional cut in fuel prices after Centre’s move Petrol prices were Thursday hiked by 15 paise a litre and diesel by 20 paise, according to price notification of state-owned oil firms. Meanwhile, Maharashtra , Gujarat Government also made a decision to give additional relief of ₹2.5/litre on Petrol to give total benefit of ₹5/litre in the State. [Full Article...]

Indian rupee collapses to 73.77 against United States dollars

Indian rupee collapses to 73.77 against United States dollars The Monetary Policy Committee ( MPC ) is expected to go for a 25 basis points hike. "You can not wish away the depreciation in the rupee if you are a current account deficit country", he said, adding that another reason to hike is so India does not "fall behind the curve in terms of interest rate differential given that central banks globally are raising interest rates". [Full Article...]

USMCA Name Has Trump Written All Over It

USMCA Name Has Trump Written All Over It It replaces the 24-year-old North American Free Trade Agreement , of NAFTA, which President Donald Trump had called a job-killing disaster . "It will transform North America back into a manufacturing powerhouse", he said . Canada's ambassador to Washington says the US and Canada have made a lot of progress in free trade talks but there is no deal. As demand increases for American a... [Full Article...]

Saudi King wouldn't last 'two weeks' without U.S. support

Saudi King wouldn't last 'two weeks' without U.S. support President Donald Trump said the king of Saudi Arabia may not last two weeks without US support, escalating pressure on one of his closest Arab allies to curb rising oil prices and pay for military protection. Oil prices remain firm on Iran sanctions, with both West Texas Intermediate crude oil, the USA benchmark, and Brent crude, the global benchmark, trading at multiyear highs. [Full Article...]

Official says basis of Canada-US deal reached

Official says basis of Canada-US deal reached Ontario Premier Doug Ford says he's concerned about how the province's dairy farmers will be affected by Canada's new trade deal with the United States and Mexico. The comments - combined with Trump's campaign rhetoric - fed into a fear that Trump might disrupt the more than $ 1 trillion in annual trade that occurs between the three countries. [Full Article...]

Oil steadies below four-year highs; USA inventory rise expected

Oil steadies below four-year highs; USA inventory rise expected Washington-based Rapidan Group expects a supply surplus of more than one million bpd, triggered by an aggressive USA shale supply response to high prices and a hit on emerging market demand. "We defend many of these nations for nothing, and then they take advantage of us by giving us high oil prices". With the U.S., Canada and Mexico finally reaching a new trade deal, the market sentiment impr... [Full Article...]

Amazon raises minimum wage for British and American staff

Amazon raises minimum wage for British and American staff This wage increase will apply to not only the 250,000 full-time employees that the company has, but also to the 100,000 seasonal employees they hire each year prior to the holidays. President Trump's chief economic adviser Larry Kudlow reacts to the news that Amazon hiked its minimum wage to $15 for all of its employees. The increase comes a day after the United Kingdom chancellor, Philip Hammon... [Full Article...]

General Electric ousts CEO in surprise move, warns on 2018 earnings

General Electric ousts CEO in surprise move, warns on 2018 earnings He brought familiarity with many of GE's flagship business units, but that alone would not suffice. GE Power's current goodwill balance is about $23 billion and the goodwill impairment charge is likely to constitute substantially all of this balance, the company said, though cautioning the charge is not finalized and subject to further review. [Full Article...]

Tesla shares rise on Musk’s deal with regulators and Model 3 numbers

Tesla shares rise on Musk’s deal with regulators and Model 3 numbers Under a settlement reached this weekend, Tesla and Musk will pay $20 million each to the securities regulator and Musk will step down as chairman but remain as chief executive. "The resolution is meant to prevent further market disruption and harm to Tesla's shareholders". Today's sharp upturn in Tesla's share price served as a signal from investors that the settlement didn't put too heavy... [Full Article...]

Amazon announces $15 minimum wage for all US employees

The only thing that isn't clear is if these wage increases also affect Amazon's delivery drivers, many of which are classified as gig economy workers. Bernie Sanders in recent months added his voice to the criticism, targeting the company and its leader by name with legislation that would tax companies the cost of the food stamps and other federal assistance provided to their employees. [Full Article...]

Despite dairy concessions, USMCA a victory for 90% of agriculture industry: producers

Despite dairy concessions, USMCA a victory for 90% of agriculture industry: producers When Trump first announced the tariffs on Canadian steel and aluminum , he said it was because we refused to sign his new NAFTA agreement. That being said , the tariffs are still in place for the near future. Canada's government had faced strong opposition to elements of the revised pact from the country's dairy farmers. Canada has a complex milk and dairy system. [Full Article...]

How to tell if your account has been hacked

How to tell if your account has been hacked This was not too long ago, and 70 million accounts were compromised as a result. A class-action lawsuit has been proposed in Canada against Facebook following a security breach that put the accounts of tens of millions of users at risk. [Full Article...]

A Look at Larry Culp’s Career

A Look at Larry Culp’s Career The company said Monday that H. Lawrence Culp Jr. will take over as chairman and CEO immediately. The company said it will fall short of its previously indicated guidance for free cash flow and earnings per share for 2018 due to weakness in its power business. [Full Article...]

US sues after California governor signs 'net neutrality' law

US sues after California governor signs 'net neutrality' law California Attorney General Xavier Becerra said on Sunday the Trump Administration was ignoring "millions of Americans who voiced strong support for net neutrality rules" while California, which is "home to countless start-ups, tech giants and almost 40 million consumers - will not allow a handful of power brokers to dictate sources for information or the speed at which websites load". [Full Article...]

Tesla stock soars as Musk taunts the SEC with a tweet

Tesla stock soars as Musk taunts the SEC with a tweet Musk is Tesla's largest investor, holding a 20-percent stake in the company. At Tesla dealerships in the U.S. and Canada, multiple showrooms took to social media to praise the volunteer workforce that had put a shift in. regulator. Tesla did not immediately respond to requests for comment. Furthermore, it adds: "Despite notifying the market in 2013 that it intended to use Musk's Twitt... [Full Article...]

Tesla stock roars back after Elon's SEC deal

Tesla stock roars back after Elon's SEC deal Neither Tesla nor Musk admitted wrongdoing under the settlement , which was reached two days after the regulator sued the billionaire over his tweeted claims to have had the funding and investor support to buy out stockholders at $420 a share. [Full Article...]

Canada, US secure revised NAFTA deal in last minute effort

Canada, US secure revised NAFTA deal in last minute effort U.S. Trade Representative Robert Lighthizer and White House adviser Jared Kushner have been updating Trump throughout Sunday on the talks, a U.S. source familiar with the discussions said. Ujczo said the two sides have also largely settled on a dispute-resolution mechanism similar to that in the original NAFTA known as Chapter 19 - an issue that has always been a major stumbling block in the talks... [Full Article...]

Facebook says nearly 50 million accounts impacted by security breach

Facebook says nearly 50 million accounts impacted by security breach The attack could have given the hackers access to other apps if a user had logged into them using their Facebook name and password, he said. Additionally, as a precaution, it's resetting tokens for another 40 million accounts that have been subject to " View As ". [Full Article...]


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