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Finance

The country has not been immune to global spillovers from external factors, he said. By the end of September, the rupee has depreciated in nominal effective terms by 5.6 per cent since the end of March, Patel said. "Improving capacity utilisation, larger FDI inflows and increased financial resources to the corporate sector is projected to augur well for investment activity", he said.
  • Pompeo backs away from North Korea denuclearisation timeline

    Finance

    While in Asia, Pompeo will also visit Japan, South Korea and China, State Department spokesperson Heather Nauert said. US Special Representative for North Korea Stephen Biegun will accompany Pompeo to Pyongyang on Biegun's first visit to the country since assuming the post in August.
  • Centre announces ₹2.5 cut in fuel prices, urges States to match it

    Centre announces ₹2.5 cut in fuel prices, urges States to match it

    Finance

    He also asked the states to match the cut announced by the states to give further relief to the masses and Gujarat and Maharashtra immediately followed suit. In Delhi, where the fuel prices are the lowest among all metros and most of the state capitals, petrol is now sold at Rs 84 per litre and diesel at Rs 75.45.
  • Canada, US secure revised NAFTA deal in last minute effort

    Canada, US secure revised NAFTA deal in last minute effort

    Finance

    NAFTA is out, USMCA is in. U.S. farmers will have access to about 3.5 percent of Canada's dairy market, Reuters reported , citing sources. The trade impasse was overcome after both parties made some concessions, with Canada agreeing to grant USA farmers greater access to its dairy market and limit its automotive exports to the US.
  • Oil extends longest quarterly rally in a decade on supply risks

    Oil extends longest quarterly rally in a decade on supply risks

    Finance

    Oil extended gains near the highest level in nearly 4 years as investors grapple with doubts over OPEC's ability to replace falling exports from Iran. OPEC and oil traders are now in fundamental disagreement about the market outlook and the standoff is fuelling a sharp rise in prices that could spell trouble for the global economy over the next 18 months.
  • Amazon to Raise Its Minimum U.S. Wage to $15 an Hour

    Amazon to Raise Its Minimum U.S. Wage to $15 an Hour

    Finance

    Most workers at Amazon's United Kingdom warehouses now receive £8 an hour, dependent on their location. Inc said on Tuesday it would raise its minimum wage to $ 15 per hour for its us employees from next month as it faces criticism for pay disparity from lawmakers and labour unions.
  • Elon Musk no longer Tesla chairman, keeps CEO title

    Elon Musk no longer Tesla chairman, keeps CEO title

    Finance

    SEC has also charged Tesla for failing to have the required disclosure control and procedures over Musk's tweets. In the settlement, Elon Musk is to pay a $20 million fine and Tesla will also pay a similar amount separately, totalling the fines to $40 million.
  • President Trump announces new trade deal with Mexico, Canada

    President Trump announces new trade deal with Mexico, Canada

    Finance

    It replaces the 24-year-old North American Free Trade Agreement, which President Donald Trump had called a job-killing disaster. "The new name will be The United States Mexico Canada Agreement, or USMCA ". Most critical of the deal was the dairy industry, which railed against expanded USA access to the domestic dairy market and the elimination of competitive dairy classes.
  • Amazon hikes pay for USA and United Kingdom workers following criticism

    Amazon hikes pay for USA and United Kingdom workers following criticism

    Finance

    Bezos is the world's richest man by a large margin-he is worth around $165 billion, according to the Bloomberg Billionaires Index-but a year ago Amazon's median pay was just $28,446, which works out to around $14 an hour. The higher minimum wage, which will go into effect on November 1, comes after the company faced criticism over its pay and treatment of employees. Sen.
  • Ford concerned about USMCA dairy concessions

    Ford concerned about USMCA dairy concessions

    Finance

    However, she says the amount and type of compensation will be worked out in coming months while Canada, the US and Mexico all work to ratify the agreement reached late Sunday. "In a sense, we look at this as something that does have a constructive message both for North American trade and for fears around trade wars more broadly", Bruce Kasman, a JP Morgan economist, said.
  • Facebook Could Face $1.63 Billion Fine Over Latest Hack Under GDPR

    Facebook Could Face $1.63 Billion Fine Over Latest Hack Under GDPR

    Finance

    In the fresh Facebook data breach case, hackers stole "access tokens" or digital keys that keep people logged in to Facebook so they do not need to re-enter their password every time they use the app. "We've identified and removed fake accounts ahead of elections in France, Germany, Alabama, Mexico and Brazil", Zuckerberg said. "It does seem broad".
  • Trump administration sues California over hours-old net neutrality bill

    Trump administration sues California over hours-old net neutrality bill

    Finance

    The bill passed the state legislature with overwhelming and bipartisan support, and could unleash a wave of similar efforts in other states, with serious implications in the fight to restore net neutrality nationwide. "When all is said and done, Comcast , Verizon, and AT&T are going to wish they'd never picked a fight with Internet over net neutrality". "Within minutes of Governor Brown signing our net-neutrality bill into law, Jeff Sessions came out of his cave and sued California to ...
  • Tesla shares jump on Model 3 numbers, Musk settlement

    Tesla shares jump on Model 3 numbers, Musk settlement

    Finance

    They also hoped the settlement would cap several months of volatility around Tesla's shares driven by a series of tweets and public pronouncements by Mr Musk. ELON MUSK has agreed to resign as chairman of Tesla and to pay a $20m fine in order to settle charges of securities fraud . But its shares have been hit hard since the SEC filed the lawsuit.
  • Canada, U.S., Mexico finalize trade agreement, sources confirm

    Canada, U.S., Mexico finalize trade agreement, sources confirm

    Finance

    President Donald Trump has either threatened or already imposed on national security grounds. A USA official said a few minutes earlier that the United States and Canada were "very close" to a deal. The agreement will boost United States access to Canada's dairy market and protect Canada from possible USA auto tariffs, two sources with direct knowledge of the talk told Reuters .
  • Here's where to find the best National Coffee Day deals

    Here's where to find the best National Coffee Day deals

    Finance

    We all love cheap stuff! Biggby Coffee: All hot coffee is 50 percent off. Caribou Coffee is offering a free coffee of the day, any size, to customers who purchase any food item. Duck Donuts : Get a free small coffee with any purchase on Saturday. The chain is also offering free coffee on Tuesdays through October 9. Pilot Flying J: Use the coupon in the myPilot app to get a free cup of Pilot coffee on Saturday.
  • Trump admits friendship with China's Xi could be over

    Trump admits friendship with China's Xi could be over

    Finance

    For one, China Daily claimed in another editorial that America's accusations of China engaging in "theft" and forced transfer of intellectual property and other "unfair" trade practices may strain the longstanding consensus between both countries.
  • McDonald’s says most of its burgers now preservative

    McDonald’s says most of its burgers now preservative

    Finance

    Calling all Big Mac and Quarter Pounder fans. Gherkins on sandwiches still have artificial preservatives, but customers can order hamburgers without pickles. Competitors like Panera and Chipotle Mexican Grill, even though they cost more, are valued, in part, for their natural ingredients. In another move to bolster its environmental sustainability, the fast-food chain announced in January that it would start offering recycling in all of its restaurants and transition to ...
  • Fed raises key rate to 2-2.25%, says more to come

    Fed raises key rate to 2-2.25%, says more to come

    Finance

    Sean Callow, Senior Currency Strategist at Westpac Bank, says it's hardly surprising the Fed is considering taking policy into restrictive territory given the current strength of the U.S. Rates are low by historical standards given an unemployment rate below 4% and, in recent months, accelerating economic growth. For financial markets and the economy, the key won't be whether the Fed will remove accommodation but when it will end its tightening path.
  • 'Catastrophic' fuel price hike on the cards‚ protests expected

    'Catastrophic' fuel price hike on the cards‚ protests expected

    Finance

    Under the country's dynamic pricing regime, petrol in Mumbai had already crossed the landmark level of Rs 90 per litre on Monday. In fact, the cost of fuel saw a steep hike of 13 paise today. Global crude oil prices have breached $ 81 a barrel mark, and there are no signs that prices will abate any soon. Maharashtra has the highest incidence of Value-Added Tax that probably explains while fuel prices there is highest in the country.
  • US Will Almost Certainly Miss NAFTA Deadline

    US Will Almost Certainly Miss NAFTA Deadline

    Finance

    Markets and business groups are openly fretting about the damage that a collapse could provoke. Trump told reporters he had rebuffed a Trudeau request for a meeting "because his tariffs are too high and he doesn't seem to want to move and I told him "forget about it".
  • SEC sues Elon Musk over tweet, seeking his ouster from Tesla

    SEC sues Elon Musk over tweet, seeking his ouster from Tesla

    Finance

    Musk denied, stating that it was just a beautification technique to make Tesla's 20 percent share increase look a bit more appealing. On Thursday, the SEC sued the serial entrepreneur and engineer for "false and misleading" statements associated with a series of tweets in which Musk suggested that Tesla was weighing a take private acquisition when the share price hit $420.
  • Fears about Musk's future sink Tesla shares

    Finance

    Musk's out-of-the-blue move apparently blindsided Tesla's chief financial officer, Deepak Ahuja, forcing him to scramble to minimize the havoc that he immediately recognized had been wrought by his CEO. The SEC also alleged Musk's tweets caused market chaos and investor harm. That day, Tesla shares closed up 11 per cent from the previous day. "The point is, there's always this carrot that Elon Musk is dangling out in the future of something that is going to take this company to ...
  • Facebook reveals security breach affecting 50 million users

    Facebook reveals security breach affecting 50 million users

    Finance

    The social media site do not know who is behind the attack or where they are based, according to a statement. Zuckerberg said in a conference call with Reuters that tokens were not used to access private messages, post anything. Facebook has since fixed the vulnerability and informed law enforcement, it said. After they have logged back in, people will get a notification at the top of their News Feed explaining what happened.
  • Tesla is making its own car carriers

    Tesla is making its own car carriers

    Finance

    The email reads: 'I am helping to deliver your Tesla Model 3 in the LA Metro area. This door-to-door service is called Tesla Direct. Hopefully, we will get to see these new vehicle carriers in action soon. One shopper even said he was dangled a discount of $3 000 on a Model S in inventory. Not having a dealer network for streamlining distribution, Tesla has angered some people as their vehicles sit just out of reach in the same city for what seems like no good reason.
  • Rate hike expected as Fed resumes policy meeting

    Rate hike expected as Fed resumes policy meeting

    Finance

    Applications for refinancing a home loan jumped three percent during the same week, but were only two-thirds of the volume one year ago, when interest rates were nearly a full percentage point lower. The rising cost of borrowing and tightening liquidity will make it more challenging for some countries, who don't have the fiscal buffers enjoyed by some of their regional peers, to bridge their budget gaps.
  • Trump says he rejected Trudeau, again threatens Canadian-built vehicle tariffs

    Finance

    Trump said Wednesday that Trudeau had sought a meeting with him during the United Nations General Assembly in NY, but Trump refused to participate because he doesn't like how Canada was approaching the trade discussions. "It's been long and exhausting, but I think we've narrowed the gap". And he warned the USA would soon go after Canadian auto imports. Roughly four in five cars assembled in Canada are exported.
  • India should reduce or stop crude oil import from Iran: Moody's

    Finance

    Iranian Minister of Petroleum has welcomed OPECs decision effectively rebuffing President Donald Trump's calls for a hike in oil output, saying United States empty dream to zero Irans oil exports would not realize. Indian refiners will either have to significantly reduce or completely stop importing crude oil from Iran over the next month, increasing their dependence on other Middle Eastern suppliers like Saudi Arabia and Iraq, Moody's Investors Service said Thursday.
  • Iran oil exports fall before US sanctions: global banking group

    Finance

    US officials, including President Donald Trump , are trying to reassure consumers and investors that enough supply will remain in the oil market and have pushed OPEC to raise output. Oil prices jumped more than two per cent to a four-year high on Monday after Saudi Arabia and Russian Federation ruled out any immediate increase in production.
  • NAFTA Talks: US, Mexico May Proceed Without Canada

    Finance

    However Lighthizer said today that if it's not done in time, then Lopez Obrador might want to renegotiate: "If we push it beyond that date then we have a new negotiation with Lopez Obrador and we don't know where that would go at all", he said.
  • OPEC, Russia Dash Hopes Of Higher Oil Production

    OPEC, Russia Dash Hopes Of Higher Oil Production

    Finance

    Fresh bullish signal was generated on today's rally through important resistance at $81.84 (Fibo 61.8% of $115.68/$27.09, 2014/2016 fall), with daily close above needed to confirm signal and open way for further advance. A committee comprised of the Organization of the Petroleum Exporting Countries ( OPEC ) cartel and non-OPEC producers said it was satisfied with the current market outlook, which represented "an overall healthy balance between supply and demand".
  • Michael Kors has purchased Versace for $2.12 billion

    Michael Kors has purchased Versace for $2.12 billion

    Finance

    Idol, Michael Kors Holdings Limited's Chairman and CEO. As part of the deal, Michael Kors Holdings Limited will be renamed Capri Holdings Limited (CPRI). Budding conglomerates like Michael Kors have been trying to make in-roads into an industry dominated by European players such as Louis Vuitton-owner LVMH ( LVMH.PA ) and Kering ( PRTP.PA ).
  • UN General Assembly Laughs as Trump Brags About His Administration

    UN General Assembly Laughs as Trump Brags About His Administration

    Finance

    The White House said after Monday's meeting between Moon and Trump in NY that the leaders discussed plans for the second summit and agreed to coordinate the next steps. was not seeking the overthrow of Tehran's clerical regime, AFP reports. Trump tweeted just hours before both leaders were set to speak at the UN General Assembly , and four months after the U.S.
  • Bitcoin(BTC) price takes a cliff jump, cryptocurrency markets loose $13 Billion

    Bitcoin(BTC) price takes a cliff jump, cryptocurrency markets loose $13 Billion

    Finance

    IOStoken (IOST) traded 0.3% lower against the dollar and now trades at $0.0396 or 0.00000526 BTC. The Reddit community for XRP is /r/ripple and the currency's Github account can be viewed here. "For far too long, the technology underlying cross-border payments has been opaque, slow and costly". Brad Garlinghouse, is the current CEO of the Ripple labs , who have a major responsibility as a leader, in order to propel the Ripple payment protocol across the world.
  • Australian strawberries pulled from New Zealand shelves after needles found

    Australian strawberries pulled from New Zealand shelves after needles found

    Finance

    A man in South Australia was due to face court on Monday as he has been charged with falsely claiming goods had been contaminated after he allegedly reported finding a needle in a strawberry his daughter was eating. The spokeswoman told the Herald that apart from this discovery, no other strawberries with needles had been reported across the Countdown store network in New Zealand .
  • Instagram co-founders Systrom and Krieger leaving firm

    Instagram co-founders Systrom and Krieger leaving firm

    Finance

    It was sold to Facebook for $1 billion a couple of years later, and is closing in on a billion users worldwide - making it the third largest social network on the planet. However, another well-known magnate of a Facebook subsidiary, WhatsApp co-founder Jan Koum, resigned from both his company and Facebook's board after reportedly becoming concerned executives planned to undermine the encrypted chat service's security for marketing purposes.
  • Pompeo confident U.S. will win China trade war

    Pompeo confident U.S. will win China trade war

    Finance

    The United States imposed tariffs on $200 billion of Chinese goods in the early hours, intensifying the acrimonious dispute. "Now that the U.S. has adopted this type of large-scale trade restrictions, they're holding a knife to someone's throat".
  • OPEC, Russia rebuff Trump's call for immediate boost to oil output

    OPEC, Russia rebuff Trump's call for immediate boost to oil output

    Finance

    Citigroup Inc. sees crude at that level in the fourth quarter, but sees risks that it will go higher. Commodity traders Trafigura and Mercuria said Brent could rise to $US90 per barrel by Christmas and pass $US100 in early 2019, as markets tighten once United States sanctions against Iran are fully implemented from November.