https://fortunedotcom.files.wordpress.com/2018/06/gettyimages-931903762.jpg

Finance

Credit-reporting agency Equifax earlier this year added 2.4 million Americans to its initial count of 145.5 million impacted by a data breach last year. On June 26, adidas became aware that an unauthorized party claims to have acquired limited data associated with certain adidas consumers. The number of customers affected could be as high as a few million, according to the Wall Street Journal .
  • Bangladeshis' deposits in Swiss banks drop 27% in 2017

    Bangladeshis' deposits in Swiss banks drop 27% in 2017

    Finance

    The finance minister claimed that the "experience of the Panama Papers", and "investigation by the Central Board of Direct Taxes" show that money deposited in Swiss banks by "Indians" is of three types - funds parked by persons of Indian origin who now carry foreign passports, those deposited by Non-Resident Indians and funds parked by Indian residents.
  • Could Boeing's new hypersonic jet concept be the future of air travel?

    Could Boeing's new hypersonic jet concept be the future of air travel?

    Finance

    And even if Boeing could manage all of these challenges, it still has cost to bear in mind. "The hypersonic jet's sharp front-end design will produce minimal drag while the split tail would help to stabilise and steer the vehicle". "W$3 e'd see something like this first before a passenger hypersonic concept", Jackson said. It would be more than twice as quick as the legendary Concorde , which could make transatlantic flights in under four hours and retired over a decade ago.
  • Beer rationing begins after carbon dioxide crisis hits Europe

    Beer rationing begins after carbon dioxide crisis hits Europe

    Finance

    It said there has been no disruption to supply. He said: " Wetherspoon has the advantage that it sources its wide range of drinks from a number of suppliers, so has not been too badly affected". The company said it was extremely concerned about a lack of information from the gas sector about when the situation would be rectified. Brigid Simmonds, chief executive of the British Beer and Pub Association, said: "We have recommended our members to continue to liaise with their providers ...
  • Amazon wants entrepreneurs to deliver their packages

    Amazon wants entrepreneurs to deliver their packages

    Finance

    However, CNBC reported that Amazon's new program may be welcomed by the traditional delivery giants given the low-margin nature of last mile deliveries. Then there's the political cost: President Trump, in tweets, has attacked Amazon for "costing the United States Post Office massive amounts of money for being their Delivery Boy".
  • Mnuchin denies stories on China-specific investment restrictions

    Mnuchin denies stories on China-specific investment restrictions

    Finance

    Correspondingly, the US with its lower savings rate has tended to run high trade deficits , especially with Asian nations. As the USA and China risk a trade war, investors worry Europe could be a major casualty. "We are concerned about the momentum slowing down". Mattis visit assumes significance as the USA wants China's support in nuclear talks with North Korea.
  • Rupee Hits Lifetime Low of 69 To The Dollar

    Rupee Hits Lifetime Low of 69 To The Dollar

    Finance

    Mumbai: The Indian rupee touched an all-time low and breached the 69 per dollar mark on Thursday due to high crude oil prices and weak macro-economic fundamentals. Also expectation of a wider current account deficit in the ongoing financial year (2018-19) further weakened the rupee, they said. Every $10 rise in the oil price worsens India's current-account balance by 0.4 percent of GDP, and pushes up inflation by 30-40 basis points, according to Nomura Holdings Inc.
  • Ticketmaster UK admits huge data breach, payment details stolen

    Ticketmaster UK admits huge data breach, payment details stolen

    Finance

    Ticketmaster has notified its New Zealand customers of a security breach of its UK-based operations in which personal and payment information may have been accessed by an unknown third party. The company, which is owned by USA ticketing firm LiveNation, said it was working with the Information Commissioners Office in the UK. A spokesperson for Ticketmaster Australia told SBS News there are no confirmed cases of data breaches affecting Australians at this stage.
  • EU to respond to any U.S. auto tariff move

    EU to respond to any U.S. auto tariff move

    Finance

    Build them here!" Trump wrote on Twitter. In 2017, 17.2m vehicles were sold in the U.S., compared with 15.6m in the EU and European Free Trade Association countries. Of those, just over half were exported by German vehicle makers. The tweet comes several weeks after the USA administration launched an investigation into whether imports of cars and auto parts pose a threat to national security.
  • Instagram Lite is Instagram's new lightweght mobile app

    Instagram Lite is Instagram's new lightweght mobile app

    Finance

    Needless to say, that's pretty impressive. "The Instagram Lite app is small, allowing you to save space on your phone and download it quickly", Instagram writes in the app's description. It does not let you post videos or send direct messages to friends. But we expect it to arrive in future as Instagram has stated that it will be added soon.
  • BMW Has No Plans to Move Production from UK Due to Brexit

    BMW Has No Plans to Move Production from UK Due to Brexit

    Finance

    Investment in Britain's key automotive sector collapsed by nearly half in the first six months of the year owing to Brexit uncertainty, industry data showed on Tuesday. BMW has fired out a warning over Brexit, saying that it could exit the United Kingdom if Britain's exit from the union effects its supply chain . BMW has quietly ramped up production capacity at a new export hub for the Mini on continental Europe with Dutch contract manufacturer VDL Nedcar, thereby cutting its dependency ...
  • Trade worries weigh on Wall Street, tech stocks suffer

    Trade worries weigh on Wall Street, tech stocks suffer

    Finance

    The U.S. Treasury Department was drafting curbs that would block firms with at least 25 percent Chinese ownership from buying U.S. companies with "industrially significant technology", a government official said on Sunday. Taiwan's benchmark fell but Southeast Asian indexes were mostly higher. Hong Kong's Hang Seng shed 0.3 percent to 28,881.40. Japan's Nikkei 225 fell 0.45%, South Korea's Kospi sank 0.64% and Australia's S&P/ASX 200 edged down by 0.33%.
  • Erdogan won the Turkish election after an unequal battle, monitors say

    Erdogan won the Turkish election after an unequal battle, monitors say

    Finance

    Turkish President Recep Tayyip Erdogan declared victory early Monday morning following a hotly contested presidential election that saw his power grip over the country tightened in the wake of sweeping constitutional reforms. "So I think Turkish people should be respected for their determination to respect their democracy and their freedoms and their dignity in fact, because it is a political and social process that strips a nation of its dignity so I think people in Turkey, those who are ...
  • Trump's top economist defends trade policies, calls Harley-Davidson move an exception

    Trump's top economist defends trade policies, calls Harley-Davidson move an exception

    Finance

    Harley-Davidson's announcement Monday was made in response to newly imposed tariffs by the European Union on American made items such as motorcycles, orange juice, bourbon, boats, cigarettes and denim products. The EU recently imposed retaliatory tariffs on $3.2 billion worth of USA goods, including motorcycles, bourbon, motorboats and cigarettes. "Trump tweeted ".We are finishing our study of Tariffs on cars from the E.U.in that they have long taken advantage of the U.S.in the form of ...
  • Trump backs off imposing China investment limits

    Finance

    Treasury Secretary Steven Mnuchin on Wednesday said the strengthened legislation will allow the U.S.to prohibit American companies pursuing joint ventures in China from transferring technology if that tech is deemed "critical" to national security.
  • Trump warns Harley-Davidson: 'We won't forget'

    Trump warns Harley-Davidson: 'We won't forget'

    Finance

    Today, Trump followed up with another swing at Harley-Davidson. "We don't want to punish, but that is the unfortunate effect, that (US companies) will put pressure on the American administration to say hey, hold on a minute, this is not good for the American economy", EU Trade Commissioner Cecilia Malmstrom said at a news briefing.
  • Trump planning new curbs on Chinese investment in the US

    Trump planning new curbs on Chinese investment in the US

    Finance

    Many investors have already started. Katainen said Europe was not siding with Beijing in its dispute with Trump but was taking action to protect the global system of regulating free trade. "The market is starting to price in that the tariffs will start to become real". The steel and aluminium tariffs are probably seen by many as the sparking point of the trade tangle the global economy now finds itself in, and what has caused the most tension between the United States, its allies, and ...
  • Libya strongman hands oil ports to unrecognized eastern authority

    Libya strongman hands oil ports to unrecognized eastern authority

    Finance

    In other news, the American Petroleum Institute (API) on Tuesday reported a 9.2 million barrel reduction in US crude inventories in the week to June 22 to 421.4 million barrels. The U.S. administration wouldn't rule out waivers or extensions to the November deadline for Iran's customers, yet isn't discussing them either, a State Department official said.
  • Oil is sliding after OPEC cuts a deal to raise production

    Oil is sliding after OPEC cuts a deal to raise production

    Finance

    Secretary-General of OPEC Muhammad Barkindo , has waved off reports that pressure by US President Donald Trump was instrumental to the Organization of Petroleum Exporting Countries (OPEC's) decision to increase oil production. The prompt Brent/WTI spread narrowed to $5.85/b on ICE in USA afternoon trading, its tightest since May 18. This helped further shrink US crude's discount to global benchmark Brent to as small as $4.78.
  • Cut oil imports from Iran to zero, or else, warns State Department

    Cut oil imports from Iran to zero, or else, warns State Department

    Finance

    China, the world's top crude oil buyer, imported around 655,000 barrels a day on average from Iran in the first quarter of this year, according to official Chinese customs data, equivalent to more than a quarter of Iran's total exports. The pressure on Iran's economy since US President Trump withdrew from the 2015 nuclear deal on May 8 has been more severe than originally forecast, Haaretz reported earlier this month.
  • Retaliatory Tariffs Drive Harley to Shift EU-Bound Production Overseas

    Retaliatory Tariffs Drive Harley to Shift EU-Bound Production Overseas

    Finance

    They are based in based in Milwaukee, Wisconsin, and employ more than 6,000 people globally. This happened even as Trump was picking fights on its behalf with every country he could find on the map. In recent years, it opened plants in Brazil and India. The company, in its US Securities and Exchange Commission (SEC) filing on Monday, said that new retaliatory tariffs by the European Union (an increase from six percent to 31 per cent) will result in an incremental cost of ...
  • China, EU teaming up against Trump in trade war

    China, EU teaming up against Trump in trade war

    Finance

    He then ordered his foreign trade chief to identify another US$200 billion worth of imports for a 10% levy, citing China's "unacceptable" move to raise its own tariffs. Netflix shares are back below the $400 level on Monday. "It is not in the interests of the United States to just be playing defence and creating a fortress America while the EU, China, and others play offence and attempt to set the rules of the game for the next century", he told the AP.
  • Trump 'Surprised' That Harley-Davidson Caved in Tariff Standoff

    Trump 'Surprised' That Harley-Davidson Caved in Tariff Standoff

    Finance

    Harley-Davidson, the dominant player in the heavyweight USA motorcycle market, said it would not pass on any retail or wholesale price increases in the European Union and instead focus on shifting some us production. Morningstar Equity Research said in a note that the tariffs might "temporarily" hamper some of the company's planned growth initiatives. Republican Representative Jim Sensenbrenner, whose Wisconsin district includes Harley's plant in Menomonee Falls, said the European ...
  • Harley-Davidson Announces Overseas Move, Cites Tariffs

    Harley-Davidson Announces Overseas Move, Cites Tariffs

    Finance

    In a series of tweets Tuesday morning, Trump bashed Harley-Davidson over its decision to move some operations out of the U.S. The president on Tuesday tweeted that if Harley goes through with its plans to move some production overseas, "it will be the beginning of the end - they surrendered, they quit! The Aura will be gone and they will be taxed like never before!" Trump also seems to be unaware that Harley Davidson's entry into India was part of a mangoes-for-motorcycles deal between ...
  • United States restrictions on Chinese investment next front in trade dispute

    United States restrictions on Chinese investment next front in trade dispute

    Finance

    Harley-Davidson, the dominant player in the USA motorcycle market said on Monday it would not pass on the cost of European Union tariffs to customers and instead focus on shifting some US production to other countries. "The market is starting to price in that the tariffs will start to become real". U.S. officials have said the WTO, the Geneva-based arbiter of world trade rules, is bureaucratic, rigid and slow to adapt to changes in global business and needs an overhaul.
  • Electoral board head: Turkey vote was 'healthy'

    Electoral board head: Turkey vote was 'healthy'

    Finance

    The victor will wield sweeping executive powers under a new presidential system, which curbs the authority of parliament and the judiciary and which critics say entrenches one-man rule. Under the proposed constitution, a state of emergency will be imposed in the event of an "uprising against the homeland" or "acts of violence which put the nation in.
  • Harley-Davidson to shift motorbike production overseas over European Union tariffs

    Harley-Davidson to shift motorbike production overseas over European Union tariffs

    Finance

    Donald Trump has criticised the Harley-Davidson motorcycle firm over its plans to shift production away from the United States in order to avoid European Union tariffs. Shares of Harley-Davidson ended the session sharply lower at $41.57, down six percent. The company, which sold almost 40,000 motorcycles in Europe previous year, said it planned to absorb those costs rather than pass them on to customers and risk damaging sales.
  • USA restrictions on Chinese investment next front in trade dispute

    USA restrictions on Chinese investment next front in trade dispute

    Finance

    Last Monday, President Donald Trump said he asked the U.S. trade representative to identify an additional $200 billion worth of Chinese goods for a 10 per cent tariff. The financial hit from duties on US$250-billion worth of Chinese imports, US$50-billion of aluminum and steel imports and US$40-billion of European automobile imports could cost USA businesses and consumers an estimated US$50-billion - erasing some of the impact of recent USA tax cuts and eroding economic growth forecasts.
  • China, Europe warn trade war could trigger global recession

    Finance

    The move comes after the European Union pushed back on Trump's steel and aluminum tariffs with its own duties on politically significant United States products like motorcycles. With the Trump administration reportedly set to crack down on Chinese investment in certain technologies, American tech giants like Netflix , Amazon , Google , and Facebook shed significant shareholder value today, as the sector bore the brunt of spiraling investor concerns.
  • Casualty Of Trade Tensions: Harley-Davidson Shifting More Production Overseas

    Casualty Of Trade Tensions: Harley-Davidson Shifting More Production Overseas

    Finance

    On average, analysts expect that Harley-Davidson will report full year earnings of $3.39 per share for the current year, with EPS estimates ranging from $3.31 to $3.49. Norinchukin Bank The boosted its position in Harley-Davidson by 108.4% during the 4th quarter. The firm owned 21,858 shares of the company's stock after selling 7,000 shares during the quarter.
  • U.S. trade policy drives Harley Davidson to create European Union jobs

    U.S. trade policy drives Harley Davidson to create European Union jobs

    Finance

    Harley said in a Monday filing that European Union tariffs on its motorcycles built in the USA just jumped from 6% to 31%, adding roughly $2,200 to the cost of each. The price of motorcycles will not go up in response to the tariffs, the company said. Wisconsin-based Harley-Davidson has assembly plants in Australia, Brazil, India and Thailand.
  • Thousands march demanding second Brexit vote

    Thousands march demanding second Brexit vote

    Finance

    Pro-EU demonstrator Juuso Jarviniemi said it was a no-brainer for him to travel from Edinburgh for the protest, the biggest march the Remain movement has had since 2016. We seriously believe a no-deal Brexit would be catastrophic". Airbus Commercial Aircraft chief operating officer Tom Williams said any Brexit scenario had "severe negative consequences" for the United Kingdom aerospace industry, Airbus in particular.
  • Is Turkey Still a Democracy? Erdogan Assumes New Powers

    Is Turkey Still a Democracy? Erdogan Assumes New Powers

    Finance

    The April 2017 referendum passed with a "Yes" vote of just 51 percent, setting out a new level of presidential authority set to come into force after Sunday's election. Nationalist politician Meral Aksener, tipped for a breakthrough after founding her new Iyi (Good) Party, suffered a disappointing night coming in fourth with 7.3%.
  • Harley-Davidson, blaming tariffs, will shift some manufacturing overseas

    Finance

    That will make each bike about $2,200 more expensive to export, Harley said. Harley-Davidson did not immediately return a request for comment. The EU's tariffs are only the latest blowback Harley has faced from Trump's trade policies. The company already has plants in Australia, Brazil and India, and it will soon open another facility in Thailand. The company added, "Increasing worldwide production to alleviate the European Union tariff burden is not the company's preference, but ...
  • VW shatters Pikes Peak record

    VW shatters Pikes Peak record

    Finance

    Volkswagen's new time shaves more than 15 seconds off, leaving the German company with a 7 minute 57.148 second record. Volkswagen has made history at the Pikes Peak International Hill Climb , claiming outright victory at the 96th running of the iconic "Race to the Clouds" with the specially developed I.D.