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Finance

Sunday. President Donald Trump tweeted out an all-caps threat to Iranian President Hassan Rouhani on Sunday night, echoing the incendiary rhetoric he used against North Korea a year ago. Iranian officials have in the past threatened to block the Strait of Hormuz, a major oil shipping route, in retaliation for any hostile U.S. action.
  • Hundreds of Ryanair flights cancelled in wake of strike

    Hundreds of Ryanair flights cancelled in wake of strike

    Finance

    Ryanair described the strikes as regrettable and said that the pilots involved - around 100 of 350 its pilots in Ireland - had refused to take part in a working group to resolve their complaints. Next week's strike by cabin crew on Ryanair flights will mean the loss of some 30% of flights to and from Belgium on 25 and 26 July, the airline confirmed.
  • Cabinet reshuffle in Canada, Indians retain positions

    Cabinet reshuffle in Canada, Indians retain positions

    Finance

    In the past year Canada has signed free trade deals with the European Union and 10 Asia-Pacific nations. Ng, the daughter of Chinese restaurant owners, is the first Canadian of East Asian descent to serve in Trudeau's cabinet. As part of the broader reshuffle, Trudeau on Wednesday selected Jim Carr , formerly the minister of natural resources, to be the minister of global trade diversification.
  • Fiat Chrysler names new CEO to replace ailing Marchionne

    Fiat Chrysler names new CEO to replace ailing Marchionne

    Finance

    John Elkann , the scion of the Agnelli family that controls Fiat , is named chairman of Ferrari , while Louis Carey Camilleri has become chief executive. In 2015, Marchionne spun off Ferrari; shares of the Italian supercar maker have returned over 150%. "It is a situation that was unthinkable until a few hours ago, and one that leaves us all with a real sense of injustice".
  • Coca-Cola Zero, Play-Doh among Singapore's best-selling items on Amazon's Prime Day

    Coca-Cola Zero, Play-Doh among Singapore's best-selling items on Amazon's Prime Day

    Finance

    Amazon said it sold over a million smart home devices in the United States. Additionally, the Prime Day deal featuring the Amazon Cloud Cam was the best-selling security camera deal in Amazon history, the company stated. Deep discounts on private labels cause less damage to Amazon's bottom line because those products cost less to produce. Taking advantage of the bargain hunting hype, some of the larger retailers, like Walmart, eBay, and Macy's, also ran their own sales campaigns and offered a ...
  • Gold drops more than 1 pct as dollar strengthens during Fed testimony

    Gold drops more than 1 pct as dollar strengthens during Fed testimony

    Finance

    Manufacturers in every one of the Federal Reserve's 12 districts anxious about the impact of tariffs, a Federal Reserve report said on Wednesday, even as the usa economy continued to expand at a moderate to modest pace. Any questions on the FED's monetary policy structure will also influence as will any references to the FED's willingness to allow a near-term overshoot of inflation from the FED's 2% objective, continuingly tepid wage growth, coupled with rising borrowing costs, an ...
  • GST rates slashed on several products

    GST rates slashed on several products

    Finance

    The next GST council meeting will take place on August 4. Ahead of the Rakshabandhan festival, which celebrates the brother-sister bond, Rakhis have also been exempted from GST. On being asked about the revenue loss from these rate cuts, Goyal said that with simplification of processes, compliance will improve which will in turn boost revenue.
  • Burberry burns outfits worth 28 million pounds annually

    Burberry burns outfits worth 28 million pounds annually

    Finance

    However, it's not just the high-end brands that are guilty of this wasteful practice, past year it emerged that a power plant in Sweden was burning unwanted H&M clothes. "They don't want Burberry products to get into the hands of anyone who can sell them at a discount and devalue the brand", Ms Malone said. Richemont, which owns the Cartier and Montblanc brands, has had to buy back €480m (£430m) worth of watches over the last two years.
  • Boeing claims air-show victory against Airbus

    Boeing claims air-show victory against Airbus

    Finance

    One of the biggest orders of the day came from Republic Airways who signed a letter of intent for up to 200 of the E-Jets. With a deal worth $2 billion over the next few years Russian cargo outfit Volga Dnepr signed confirmation of an order for five Boeing 747-8 Freighters, whilst United Kingdom based CargoLogicHolding signed a deal which included a letter of intent to acquire 29 Boeing 777 Freighters and an agreement to work together on future freighter projects.
  • London Heathrow airport says operations resuming after fire alarm

    London Heathrow airport says operations resuming after fire alarm

    Finance

    British Airways has apologised after IT issues caused dozens of flights in and out of Heathrow Airport to be cancelled, described by one passenger as "complete chaos". National Air Traffic Services (NATS) said the control tower at the airport had been evacuated. One passenger said: "They just said to me "stay in the queue".
  • China says US blaming Prez Xi for blocking trade deal is ‘bogus’..

    China says US blaming Prez Xi for blocking trade deal is ‘bogus’..

    Finance

    Kudlow also said he expects European Commission President Jean-Claude Juncker to make a trade offer when he meets with Trump at the White House next week. China could end the USA tariffs by providing a more satisfactory approach. "The ball is in his court". The National Economic Council Director said that President Trump's formula of tax cuts, deregulation, and other reforms - despite Wall Street fears over inflation, tariffs and a possible global trade war will keep the nation's ...
  • Modi government faces no-confidence motion

    Modi government faces no-confidence motion

    Finance

    PM Modi was interacting with the beneficiaries of Pradhan Mantri Sahaj Bijli Har Ghar Yojana (Saubhagya) on Thursday. The PM expressed happiness and extended his wishes to the villagers who were elated after benefitting from the rural electrification scheme.
  • Trump Says He's 'Not Thrilled' About US Interest Rate Hikes

    Trump Says He's 'Not Thrilled' About US Interest Rate Hikes

    Finance

    That policy drew rebukes from many Republican lawmakers. Trump nominated current Fed Chair Powell, who had served as a governor on the board of the Fed, to serve at its helm after Janet Yellen's retirement in February. During the 1960s, President Lyndon Johnson reportedly physically manhandled the then-Fed chairman, William McChesney Martin , for wanting to raise interest rates, which LBJ saw as a threat to his guns-and-butter fiscal spending.
  • Samsung could merge the Galaxy S and Galaxy Note smartphone lineup

    Samsung could merge the Galaxy S and Galaxy Note smartphone lineup

    Finance

    All the same, many have pointed out the slim gap between what we're expecting from the Note 9 on August 9, and what the Galaxy S9 + already offers. Apart from that, it looks like Galaxy Note 9 will have a dual-camera setup as well. A large 4000mAh battery is expected to complete the package. The Galaxy Note 9 is just a few short weeks away, but there aren't likely to be any surprises left.
  • Trump slams the Federal Reserve for raising interest rates

    Finance

    Asked on CNBC if he is ready to go to $500 billion - a number that almost matches the $505 billion in products that China exported to the U.S.in 2017 - Trump said, "I'm ready to go to 500". Speaking about Fed policy in his interview with CNBC, Trump said he is "letting them do what they feel is best". In excerpts of the interview released yesterday Trump had broken with the long-established executive branch practice of not commenting on the Federal Reserve's decisions out of respect ...
  • Microsoft earnings: Q4 FY2018

    Microsoft earnings: Q4 FY2018

    Finance

    The results-for both the quarter and the entire fiscal year-can only be described as astonishing, especially when you consider that Microsoft is in the midst of a transition from its old business model to one that is focused on cloud computing .
  • Trump threatens tariffs on all US$505 billion of Chinese imports

    Finance

    Earlier this month, the United States imposed tariffs on $34 billion of Chinese imports and China promptly levied taxes on the same value of USA products. "But it was very unfair". Axios reports on Friday that "chances of a longer, wider, more damaging trade war with China are rising", with one possible scenario including China goading Trump into a trade war.
  • Trump gripes about Fed in rare rebuke by sitting president

    Finance

    The Fed has raised interest rates five times since Trump took office in January 2017. Trump told CNBC in an interview: "I don't like all of this work that we're putting into the economy and then I see rates going up". Fed spokeswoman Michelle Smith declined to comment. "Now I'm just saying the same thing that I would have said as a private citizen", said Mr. Trump.
  • Trump says United States ready to tax all Chinese imports should need arise

    Finance

    The US imported about $505 billion worth of goods from China a year ago. When asked about the stock market possibly falling if the United States imposes such a large amount of duties, Trump said: "If it does, it does". "But it was very unfair". Trump has ordered Commerce to investigate whether auto imports pose a threat to USA national security that would justify tariffs or other trade restrictions.
  • Oil prices fall amid record U.S. output, stockpile build

    Oil prices fall amid record U.S. output, stockpile build

    Finance

    Today's early price action indicates that traders are struggling with signs of strong gasoline demand in the United States at a time when oil producers are putting more crude on the market. Saudi Arabia claims that it has 2 million bpd of excess capacity-not enough to plug a major hole in the world oil market. Iranian official urges Trump not to use USA strategic oil reserve.
  • We are not closer to a no deal Brexit, says May

    We are not closer to a no deal Brexit, says May

    Finance

    Johnson, the former mayor of London seen to have ambitions to be prime minister , is not alone in calling for May to ditch the Chequers plan . Brexit campaigner Dominic Raab , appointed to the government last week after his predecessor quit over Prime Minister Theresa May's proposals to tie Britain close to European Union trading rules, said he wants talks to "heat up" ahead of a meeting to lay out her ideas to European Union chief negotiator Michel Barnier.
  • Trump criticizes Federal Reserve, breaking long-standing practice

    Finance

    If there is one big-time bipartisan no-no for presidents, it's failing to respect the independence of certain key institutions, among them the monetary policy giants of the Federal Reserve Board. Eventually Burns relented, aiding Nixon but also helping to feed runaway inflation that dogged the US economy for almost a decade. The US dollar lost ground against rival currencies following the comments.
  • Trump Slams Interest Rate Hikes, Ignoring Hands-Off Tradition Toward Fed

    Finance

    The president emphasized that he would have said these remarks if he was a private citizen as well: "I don't like all of this work that we're putting into the economy, and then I see rates going up". "So somebody would say, 'Oh, maybe you shouldn't say that as president.' I couldn't care less what they say, because my views haven't changed". The reaction to Trump's remarks in the financial markets was muted.
  • ‘Brexit continues to mean Brexit’, May presses on with her plan

    ‘Brexit continues to mean Brexit’, May presses on with her plan

    Finance

    Johnson, figurehead of the Brexit campaign in the 2016 referendum, urged May to change her Brexit strategy in a scathing assessment of the government's handling of the negotiations. It has one theme: “It is not too late to save Brexit.”. Addressing the House of Commons in his resignation speech , Johnson described his 18 months stint as a " fog of self-doubt " with the United Kingdom handing over a £40 billion Brexit fee, accepting European Court jurisdiction and the uncertain question of ...
  • August rate hike 'less of a dead cert' after surprise inflation figures

    August rate hike 'less of a dead cert' after surprise inflation figures

    Finance

    Mike Hardie, its head of inflation, explained: "Consumers have been feeling the benefit of the summer clothing sales, and computer game prices have also fallen". The Bank of England is under pressure to delay raising interest rates this summer. Inflation unexpectedly stalled last month as higher prices for motor fuel, gas and electricity were offset by deeper discounting by clothing retailers.
  • Jeff Bezos Becomes The Richest Man In Modern History, Topping $150 Billion

    Jeff Bezos Becomes The Richest Man In Modern History, Topping $150 Billion

    Finance

    Although that's significantly less than what Bezos is worth, Gates spreads his wealth and Bezos simply doesn't (his first donation ever was made just this year). Amazon shares slipped below $1,800 in extended trading after Netflix Inc. posted disappointing results, rattling tech investors. It also puts Bezos's personal fortune within spitting distance of the $151.5 billion controlled by the Walton family, the world's richest dynasty.
  • Blue Origin test flight simulates space launch emergency

    Finance

    After launch, the reusable New Shepard booster will climb to an altitude of 62 miles (100 kilometers), the internationally-approved boundary of space, and then proceed to land nearby. Wednesday's passenger was Mannequin Skywalker, an instrumented dummy in a blue flight suit that's flown before, plus science experiments. The escape rocket motor is built into the crew capsule to provide a backup plan in case something goes wrong with New Shepard's booster.
  • Best airlines in the world for 2018 according to Skytrax

    Best airlines in the world for 2018 according to Skytrax

    Finance

    AirAsia has been named the world's best low-priced airline for the 10th year in a row. The airline in a statement said it won the accolade at the 2018 Skytrax World Airline Awards held today at The Langham, London. This year, more than 20 million passengers on 320 airlines participated. Cathay Pacific Airways 7. Qantas Airways 3. Singapore Airlines 4. Air Canada was named Best Airline in North America, while Air Transat was named Best Leisure Airline in the World.
  • Boeing starts air show with order for jets worth $4.7B

    Boeing starts air show with order for jets worth $4.7B

    Finance

    One big thing: A trade war. Airbus announced a mix of orders - some firm, some promised - that would be worth tens of billions of dollars at list prices. Boeing's upbeat sales forecast underlined the importance of China to the aircraft industry. The week is expected to confirm demand for narrowbody jets from airlines such as Mexico's VivaAerobus, which is shopping for about 40 Airbuses, and lessors like Goshawk, which is interested in jets in the Boeing 737 MAX category.
  • European Union, Japan sign major free trade deal, denounce rising protectionism

    European Union, Japan sign major free trade deal, denounce rising protectionism

    Finance

    The European Union's top officials arrive in Japan Tuesday (17 July) to sign the single market's biggest trade deal ever and present a united front as Washington upends the worldwide trade order. Since then, his "America First" policy has seen tariffs introduced on a range of items, including steel, which both Japan and the European Union export to the US.
  • Schnatter, lawyers send letters to Papa John's Board of Directors

    Schnatter, lawyers send letters to Papa John's Board of Directors

    Finance

    Papa John's founder John Schnatter reportedly said he didn't want to work with singer Kanye West because he uses the N-word in his lyrics, according to a letter he sent to the company board of directors. In the letter Saturday, Schnatter said that incident was also mishandled by the company's leadership "from a public relations standpoint" and that what he said was not racist.
  • UK PM defeats rebels over plans to remain in EU customs union

    UK PM defeats rebels over plans to remain in EU customs union

    Finance

    British lawmakers passed the Taxation (Cross-Border Trade) Bill Monday that creates an independent customs policy for Britain after it leaves the European Union. "The inevitable outcome of the parliamentary arithmetic is that she will need to change it to keep the party united", he told BBC television. May said the plan outlined in the white paper honors the wishes of British voters - who in June 2016 backed Brexit with 52 percent of the vote - while protecting industry and security.
  • Netflix subscription numbers disappoint, stock plunges

    Finance

    Netflix still managed to beat earnings expectations for the three-month period ended June 30. Netflix's stock fell almost 14% after its earnings report. Netflix had an average of 124.4 million paying subscribers in the quarter, up from 118.9 million in the first quarter but below its guidance of 125 million.
  • China fires back at USA tariffs with WTO complaint

    China fires back at USA tariffs with WTO complaint

    Finance

    But Chinese officials have tried to appeal to American companies as allies. The world's second-biggest economy expanded 6.7 percent in April-June, down from 6.8 percent in the first quarter and in line with a forecasts in an AFP survey of economists.
  • Amazon's Prime Day runs into snags swiftly

    Amazon's Prime Day runs into snags swiftly

    Finance

    CNET's Dan Ackerman joins "CBS This Morning" to discuss what to expect from the big sale. Four new countries will be part of Prime Day this year: Australia, Luxembourg, the Netherlands and Singapore. Fire TV: Best-ever savings on Fire TV with Amazon Pay discount of up to 100% cashback when purchased along with select TV brands. Amazon Prime users will also be able to avail a Kindle Unlimited subscription at a discounted price of Rs 1,388, down from the regular Rs 2,388 fee.
  • Netflix plunges 14% after it misses expectations on revenue and subscriber additions

    Netflix plunges 14% after it misses expectations on revenue and subscriber additions

    Finance

    The news of just 5.2 million total subscriber adds was especially pointed for Wall Street given Netflix's addition of 7.4 million in the first quarter, well ahead of the 6.5 million projected then. Analysts had been modeling $3.94 billion in revenue and EPS of 79 cents. During the quarter, net income rose 32.5 percent, to $384.3 million, or 85 cents a share, from $65.6 million, or 15 cents, a year earlier.
  • Elon Musk calls Thai cave rescuer a pedophile on Twitter

    Elon Musk calls Thai cave rescuer a pedophile on Twitter

    Finance

    Musk, famous for founding Tesla and SpaceX , had originally involved himself in the rescue operation by building a mini-submarine he had hoped would save the children. Unsworth's comment prompted Musk to then fire back on Twitter. Unsworth told AFP on Monday he had not reviewed the tweets in full and had only heard about them.
  • Amazon UK Prime Day offers LEGO discounts of up to 51%

    Amazon UK Prime Day offers LEGO discounts of up to 51%

    Finance

    Update 1:30pm: Amazon's Prime Deals page now seems to be working from the desktop web site home page, and the "Shop All Deals" button has disappeared in favor of links to various shopping categories. Prime Day launched for the first time in Australia this year, and apparently, it failed to live up to the hype . The best way to keep on top of Amazon Prime Day is to download the Amazon app on your phone, which is available in the App Store for iOS , or the Google Play Store for ...
  • Ivanka Trump brand pulled from Hudson’s Bay due to ‘performance’

    Ivanka Trump brand pulled from Hudson’s Bay due to ‘performance’

    Finance

    The Canadian department store, which removed 150 Ivanka Trump items from its website, is one of 24 retailers that Coulter says have stopped carrying products associated with the us president's family. Hudson's Bay shoppers can no longer find the brand on the company's website, and by the fall it will be completely gone from its 90 stores, the department store company confirmed to The Post.
  • China's Trade Surplus With the USA hits record high

    Finance

    Tusk condemned Trump's swipes at European allies last week amid rising geopolitical tensions, and he urged world leaders Monday in China to settle their economic disputes by reforming the World Trade Organization - a body that all parties have agreed needs improvement.