Finance

In a message to the White House, China's finance ministry said exactly when the tariffs would come into force would depend on Washington's response. President Donald Trump and his administration have repeatedly called on China to stop unfair trading practices , stop technology and intellectual property theft, and for a decrease in the us trade deficit with the China.
  • Apple reaches new landmark with US$1 trillion valuation

    Apple reaches new landmark with US$1 trillion valuation

    Finance

    The iPhone maker became the first company to reach this valuation. Last year, sales had risen to $229bn and profits to $48.4bn, making it the most profitable public-listed United States company. One of three founders, Jobs was driven out of Apple in the mid-1980s, only to return a decade later and rescue the computer company from near bankruptcy.
  • What an interest rate rise means for you

    What an interest rate rise means for you

    Finance

    Inflation is a worry: Good monsoon and a higher-than-usual increase in government-guaranteed price for crops will raise farmers' income, then rural demand and then inflation. People walk past the Bank of England , in London, Britain August 1, 2018. The move marks the latest small step by a major central bank to dial back the monetary stimulus that has been supporting the global economy since the financial crisis tipped the world into recession in 2009.
  • Crude palm oil futures fall on profit-booking

    Crude palm oil futures fall on profit-booking

    Finance

    US President Donald Trump said on Monday he would meet with Iran's president, Hassan Rouhani . The price for Brent crude oil , the global benchmark for the price of oil, was down 0.73 percent as of 9:15 a.m. The U.S. and Iran have lately engaged in a war of words, with Iranian officials threatening to snarl oil exports in the world's busiest region for crude shipments.
  • Interest rate rise means increased mortgage bills for millions

    Interest rate rise means increased mortgage bills for millions

    Finance

    The jump in interest rates is a small win for savers - which amounts to around 45 million people, according to official figures. Get up to 5% more foreign exchange for worldwide payments by using a specialist provider to get closer to the real market rate and avoid the gaping spreads charged by your bank when providing currency.
  • Chipotle closes OH location after illnesses reported

    Chipotle closes OH location after illnesses reported

    Finance

    Reports of illness first surfaced Sunday on the website iwaspoisoned.com, and surged into the hundreds following Business Insider's report. "We take all claims of food safety very seriously and we are now looking into a few reports of illness at our Powell, Ohio , restaurant ", Chipotle spokeswoman Laurie Schalow told Business Insider on Monday .
  • OH offers sales tax holiday this weekend

    OH offers sales tax holiday this weekend

    Finance

    Florida shoppers will have the opportunity to not pay normal sales tax on items like school supplies , clothing and accessories. "This weekend's 3-day tax free holiday , provides a great chance for families to save their hard-earned money", said Rep.
  • Apple’s Market Cap Hits $1 Trillion

    Apple’s Market Cap Hits $1 Trillion

    Finance

    According to a quarterly report that Apple filed with the SEC on Wednesday, the company had 4,829,926,000 shares outstanding as of July 20, the most recent figure available. Other technology companies with high-flying, trendy stocks are expected to join Apple in the $1 trillion club before long. The Silicon Valley stalwart's stock has surged more than 50,000 per cent since its 1980 initial public offering, dwarfing the S&P 500's approximately 2,000-per cent increase during the same nearly ...
  • China trade war hits Asian stock markets again

    Finance

    In Beijing Chinese foreign ministry spokesman Geng Shuang said Wednesday that "blackmail and pressure from the U.S. side will never work on China". China's top diplomat on Thursday encouraged the Trump administration to "calm down" amid escalating tariff threats, saying increased rhetoric will not lead to results.
  • Leaked document shows Google's plans for its censored search engine in China

    Finance

    Google co-founder Sergey Brin , whose parents brought him to the United States to escape communist Russian Federation, led a dramatic exit from mainland China in 2010 after the company refused to self-censor search content. Censorship is set to continue indefinitely within China and seems to be getting more pervasive every year. "It will be a dark day for internet freedom if Google has acquiesced to China's extreme censorship rules to gain market access", Amnesty International's China ...
  • Higher interest on fixed deposits for NRIs after RBI rate hike

    Finance

    The RBI's Monetary Policy Committee (MPC ) raised the repo rate INREPO=ECI by 25 basis points to 6.50 percent. This is the second hike in the interest rate after four years of continuous halt by the central bank. Indonesia's central bank has been the most aggressive in Asia this year, hiking its benchmark rate 100 basis points between mid-May and the end of June.
  • Huawei Overtakes Apple as New #2 Smartphone Maker

    Huawei Overtakes Apple as New #2 Smartphone Maker

    Finance

    Chinese smartphone maker, Huawei has surpassed Cupertino giant Apple to become the second largest smartphone brand globally during Q2 2018. "Consumers remain willing to pay more for premium offerings in numerous markets and they now expect their device to outlast and outperform previous generations of that device which cost considerably less a few years ago", Anthony Scarsella from IDC .
  • TSA program has undercover air marshals watching Americans

    TSA program has undercover air marshals watching Americans

    Finance

    Natalie Brown said the federal government should not be conducting surveillance on law-abiding USA citizens who have no criminal background. In the world of law enforcement, this program's core design is no different than putting a police officer on a beat where intelligence and other information presents the need for watch and deterrence.
  • White House Plans 25% Tariffs on China

    Finance

    President Donald Trump won a victory for freer trade last week when he and the president of the European Commission, Jean-Claude Juncker, agreed to find ways to lower tariffs and other barriers to each other's exports. A spokeswoman for the U.S. Trade Representative's Office declined to comment on the proposed tariff rate increase or on whether changing them would alter the deadlines laid out for comment period before implementation.
  • Tesla expects to hit 6,000/week Model 3 production rate

    Tesla expects to hit 6,000/week Model 3 production rate

    Finance

    As it ramps up production of the Tesla Model 3 , Tesla announced Wednesday that it reduced its financial losses in the second quarter-barely. Cash burn - a key metric for Tesla as it seeks to become profitable this year - was $739.5 million, down slightly from $745.3 million last quarter.
  • USA sanctioning Turkish officials over detention of American pastor - White House

    USA sanctioning Turkish officials over detention of American pastor - White House

    Finance

    One proposed bill would restrict loans from global financial institutions to Turkey until Ankara stops the "arbitrary arrest and detention" of US citizens and consular staff. The Treasury Department will place sanctions on Turkey's minister of justice and minister of interior, White House Press Secretary Sarah Sanders confirmed at a press briefing.
  • Japan Stocks fall ahead of BoJ rate review

    Japan Stocks fall ahead of BoJ rate review

    Finance

    Bank Wealth Management in Helena, Montana. The yen fell 0.4 percent to 111.49 per dollar, the weakest in more than a week. At a two-day rate review that ended on Tuesday, the BOJ chose to maintain its short-term interest rate target at minus 0.1 percent and a pledge to guide 10-year government bond yields around zero percent by a 7-2 vote.
  • Health alert issued for beef, poultry, and pork products over Cyclospora concern

    Health alert issued for beef, poultry, and pork products over Cyclospora concern

    Finance

    Cyclospora can cause diarrhea, stomach cramps, nausea, fatigue, body aches and fever a week or more after someone consumes food or liquid contaminated with the parasite, according to the FSIS . Caito Foods LLC and FSIS are working together to remove the products from commerce. Caito learned of the problem when its supplier, Fresh Express, notified it of a recall involving some of the lettuce in products packaged under a variety of brand names.
  • Samsung Electronics misses forecast on lower phone sales

    Samsung Electronics misses forecast on lower phone sales

    Finance

    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. Interestingly, Samsung said that Galaxy Note 9 will be available for a reasonable price. You'll be watching using Samsung's own video player on its website.
  • Good news for UAE-based NRIs after rate hike in India

    Finance

    One basis point is a hundredth of a percentage point. Thirty-seven of 63 economists in a Reuters poll last week said the RBI will raise rates n Wednesday, while 22 said the next hike would come later this year, or early in 2019. In June, the RBI had raised the repo rate by 0.25 percent to 6.25 percent. June has been the eighth straight month in which RBI has missed its medium-term target on inflation of 4 per cent.
  • Huawei tops Apple in tightening smartphone market: IDC

    Huawei tops Apple in tightening smartphone market: IDC

    Finance

    Apple reported slightly lower than expected iPhone sales of 41.3 million units-though that's up year over year-in its quarterly earnings report earlier today. With likes of OPPO, Huawei , Vivo and Google looking to be aggressive in INR 40,000-60,000 segment in coming quarters, pressure on likes of Apple and Samsung will be even higher.
  • Apple earnings beat expectations as it sells pricier iPhones

    Apple earnings beat expectations as it sells pricier iPhones

    Finance

    Mac sales were down 13% at 3.7 million units sold. While the tech giant sold fewer of its flagship iPhones than expectedー41.3 million units versus estimates for 41.8 millionーthe average selling price of $724 was above forecasts. "Growth was strong all around the world", Apple finance chief Luca Maestri said. Maestri told Reuters that sales from Apple Care, the company's warranty offering, were up 27 per cent versus a year ago, though the company did not disclose a dollar figure for ...
  • MoviePass is Raising Their Price As They Try to Become Profitable

    Finance

    MoviePass chief executive Mitch Lowe made the announcement at a company meeting Monday, amplifying a letter he wrote to subscribers on Friday. The reason for this is that while the subscriber only pays $7.95/$9.95 per month, MoviePass pays the full ticket price for every movie that the subscriber goes to watch.
  • MoviePass is raising its price and cutting access to blockbusters

    MoviePass is raising its price and cutting access to blockbusters

    Finance

    MoviePass confirmed Tuesday that the new Tom Cruise movie is the first film under the new policy of limiting major releases, which MoviePass says can be avoided should a studio decide to partner up with the service. This has left many wondering how long the service could last, and the answer appears to be, uh, maybe until the end of this sentence. The press release also notes that the company is looking forward to a "continued rollout and refinement of the Peak Pricing program", which ...
  • Homeless Texas native's sign lands him hundreds of job offers

    Homeless Texas native's sign lands him hundreds of job offers

    Finance

    He'd only been standing on the median at El Camino Real and San Antonio Road for a couple hours when a passing driver named Jasmine Scofield stopped and asked if she could take his picture and post it online. Beside the homeless web developer was his backpack and a FedEx envelope containing his resumes. "If anyone in the Silicon Valley could help him out, that would be fantastic", she wrote.
  • Poll indicates lack of confidence in May's Brexit negotiations

    Poll indicates lack of confidence in May's Brexit negotiations

    Finance

    A majority of Britons back a second referendum on Brexit for the first time, a new opinion poll has found. Gideon Skinner, head of political research at Ipsos MORI, said: 'Theresa May has faced a lot of criticism since she launched her Chequers deal, and our poll for the Standard shows this is mirrored among the public, with her ratings continuing their recent decline to another new low (and the fall has been even sharper among her own supporters).
  • Harley-Davidson rebels with an electric motorcycle

    Harley-Davidson rebels with an electric motorcycle

    Finance

    Laying out a plan it calls "More Roads to Harley-Davidson", the company expects to spend $675 million U.S. to $825 million United States over the next four years, looks to chop costs and generate more than $1 billion USA of incremental annual revenue in 2022.
  • How to Get a Free Big Mac at McDonald’s

    How to Get a Free Big Mac at McDonald’s

    Finance

    More than 6.2 million tokens will be distributed in the US and 50 other countries. "The legendary taste of the Big Mac has helped it achieve universal recognition and a lasting legacy", said Marcia Graham, president of the Greater Philadelphia McDonald's Owner/Operator Association.
  • Nod for Disney's $71.3B acquisition of Fox entertainment

    Nod for Disney's $71.3B acquisition of Fox entertainment

    Finance

    Shareholders in both companies signed off on the cash-and-stock transaction at meetings on Friday. Shareholders have signed off on Walt Disney's plan to buy the film and television assets of Rupert Murdoch's 21st Century Fox for $71bn (£54bn).
  • Tesla sells limited-edition $1500 surfboard, hits eBay for $4K

    Tesla sells limited-edition $1500 surfboard, hits eBay for $4K

    Finance

    At any rate, Tesla's surfboards are sleek and attractive-looking, matching the company's classic red-and-black color scheme. In case you've ever wished you could surf a Tesla, the boards feature a "mix of the same high-quality matte and gloss finished used on all our cars".
  • U.S. wants a fair trade deal, Donald Trump tells European Union leaders - Ireland

    U.S. wants a fair trade deal, Donald Trump tells European Union leaders - Ireland

    Finance

    In addition to developments in the global trade environment, investors are focusing on the amount of liquidity policy makers have injected into the financial system. Since taking office past year, Trump has implemented policies to restrict what he sees as unfair competition from other countries. "We refused that because I don't have a mandate and that's a very sensitive issue in Europe".
  • Spirit Airlines passengers get sick from 'dirty socks' odor in cabin

    Spirit Airlines passengers get sick from 'dirty socks' odor in cabin

    Finance

    Reports indicate at least one passenger said the plane had an odor that smelled like "dirty socks". Seven to 10 of the passengers on board were taken to the hospital, WNBC reported. "A handful of Guests were checked out by medical professionals and have since been cleared to continue their journey", the airline said in a statement to Business Insider.
  • Zuckerberg loses $16 billion in record Facebook fall

    Zuckerberg loses $16 billion in record Facebook fall

    Finance

    The drop translates to a US$119.4 billion ($176 billion) decline in market capitalisation, the largest-ever loss of value in one day for a U.S. traded company. Amazon.com was up 2.3% following its own results after the bell on Thursday. Of 47 analysts covering Facebook, 43 still rate the stock as "buy", two rate it "hold" and only two rate it "sell".
  • Soccer and sex boost British broadcaster ITV

    Soccer and sex boost British broadcaster ITV

    Finance

    The plan is part of ITV's cost-cutting drive to save up to £40m by 2021, with £15m of those cost cuts set to take place next year alone, as recently appointed chief executive Carolyn McCall unveiled what she called a strategy "refresh".
  • World's oldest person, a Japanese woman, dies at 117

    World's oldest person, a Japanese woman, dies at 117

    Finance

    She was born in Wecam in the Kansai area, Japan , 2 may 1901. He gained the title of oldest living male after the death of Francisco Nuñez Olivera from Spain in January 2018. Her husband, Shoji, worked for Japanese National Railways, which helped ignite her love for travel. Chiyo Miyako died on Sunday, the prefectural government of Kanagawa , her home state south of Tokyo , confirmed on Friday.
  • Canada, Mexico say free trade deal must include US

    Canada, Mexico say free trade deal must include US

    Finance

    Freeland met with incoming Mexican President Andres Manuel Lopez Obrador , so the trilateral deal and rejection of the sunset clause - she said Canada was "strongly opposed" to the latter - are in effect endorsed by the new administration that came to power following Mexico's national election earlier this month.
  • Trump, Juncker agree on 'new phase' of EU-US relations

    Trump, Juncker agree on 'new phase' of EU-US relations

    Finance

    President Trump may have struck a deal with the European Union to drop trade barriers and increase the number of USA imports, but some American farmers remain uncertain about what that means for their businesses. The growth was driven by consumers who began spending their Trump-signed tax cuts and exporters who rushed to get their products delivered ahead of retaliatory tariffs.
  • European Union threatens U.S. with $20 billion tit-for-tat tariffs

    European Union threatens U.S. with $20 billion tit-for-tat tariffs

    Finance

    In other words, fearful that Trump was about to turn the trade war nuclear with auto tariffs (against the advice of his own staff, per WaPo), it sounds like Juncker did some eleventh-hour diplomacy to hold him off. "The EU came into the conversation and they were open to the proposals we had made about getting rid of tariffs, non-tariff barriers and subsidies".
  • FREE MAC lipstick on Sunday, July 29

    FREE MAC lipstick on Sunday, July 29

    Finance

    The free lipstick for #NationalLipstickDay is available at MAC Cosmetics stores and other MAC Cosmetics retail outlets. Makeup lovers, get ready for a deal you'll want to pucker up for! According to the company's website , customers who visit the store on Sunday can choose one of nine shades being offered for free - no purchase required.