Finance

Finance Musk's SpaceX could help fund take-private deal for Tesla
Author: 0 Musk's SpaceX could help fund take-private deal for Tesla

The newspaper reported that during an hour-long telephone interview Mr Musk alternated between laughter and tears, acknowledging he was working up to 120 hours a week and sometimes took Ambien to get to sleep. But a tweet Musk fired off last week has reportedly made him and the directors the targets of securities regulators , and may force the board to act.

Finance Morocco campaign to boycott U.S. products in solidarity with Turkey
Author: 0 Morocco campaign to boycott U.S. products in solidarity with Turkey

Vice President Fuat Oktay wrote on Twitter that the increase in duties were in response to "deliberate attacks on our economy" by the U.S. administration. Erdogan also has called on people to exchange their US dollars for Turkish lira to help strengthen the exchange value of the country's currency .

Finance Oil slips as emerging market woes dim demand outlook
Author: 0 Oil slips as emerging market woes dim demand outlook

Georgi Slavov, of commodities trader Marex Spectron, said demand from oil refineries is expected to fall as profit margins tighten and the global economy appears to be producing the same output with less energy input. The US benchmark crude has declined more than 4percent this month as worldwide trade disputes threatened to deflate energy demand growth. Typically, crude futures trade inversely to the greenback.

Finance 35 dead, 30 vehicles involved in Italian bridge collapse
Author: 0 35 dead, 30 vehicles involved in Italian bridge collapse

Atlantia was not immediately available to comment on the minister request for the top management's resignation or on the possible revoking of management license. Italian Transport Minister Danilo Toninelli said on Wednesday at a press conference that the private operator of the collapsed bridge near Genoa will have to contribute the cost of its reconstruction.

Finance Tesla directors: 'No formal proposal' to take company private
Author: 0 Tesla directors: 'No formal proposal' to take company private

Elon Musk's decision to tweet that he was considering taking Tesla private reportedly caught some of the company's own board directors off guard, The New York Times reported on Monday. PIF officials have said in the past that decisions at the sovereign wealth fund are made with care, emphasising corporate governance. The company said in the statement the special committee has the authority to take any action on behalf of the board to evaluate and negotiate a potential transaction and ...

Finance Turkish President Erdogan says collapse in lira a plot against the country
Author: 0 Turkish President Erdogan says collapse in lira a plot against the country

This is the latest chapter in a growing diplomatic rift between Turkey and the United States. "We've seen no evidence that Pastor Brunson has done anything wrong and we believe he is a victim of unfair and unjust detention by the government of Turkey ", White House Press Secretary Sarah Sanders said at a press briefing announcing the sanctions last week.

Finance Giant Saudi fund emerges as backer of bid for Elon Musk's Tesla
Author: 0 Giant Saudi fund emerges as backer of bid for Elon Musk's Tesla

Musk has not offered evidence that he has lined up the necessary funding to take Tesla private, and the complaints did not offer proof to the contrary. In one of the two lawsuits, which was filed in federal court in San Francisco by Kalman Issacs, the plaintiff contends Tesla and Musk "embarked on a scheme and course of conduct to artificially manipulate the price of Tesla stock to completely decimate the company's short-sellers".

Finance Trump authorizes doubling of tariffs on Turkey's steel, aluminum
Author: 0 Trump authorizes doubling of tariffs on Turkey's steel, aluminum

Turkey and the U.S. are now experiencing rocky relations following Washington's imposition of sanctions on Interior Minister Suleyman Soylu and Justice Minister Abdulhamit Gul for not releasing Brunson. The White House also cited currency movements in China last week when Trump called for a possible increase in tariff rates on Chinese imports. Erdogan has been putting pressure on the central bank not to raise interest rates in an attempt to help borrowers.

Finance Range of food features in China's new tariff salvo at US
Author: 0 Range of food features in China's new tariff salvo at US

Commenting on the latest US move to add some Chinese companies into its list of entities subject to USA export controls, the MOC said that China stands firmly against USA unilateral sanctions on Chinese entities. A first round of tariffs came into effect on 6 July, when the U.S. imposed 25% taxes on $ 34bn of Chinese imports . If China follows through on the threat, almost 90% of all USA goods heading to China will be subject to tariffs.

Finance Indra Nooyi To Step Down As PepsiCo CEO
Author: 0 Indra Nooyi To Step Down As PepsiCo CEO

The company's board of directors has selected Ramon Laguarta to succeed Nooyi. In a statement, Laguarta praised Nooyi for her "bold vision and outstanding leadership" and for her "overwhelming support". As CEO, she later oversaw acquisition of a 50% stake in USA hummus maker Sabra in 2008, formed a joint venture with Saudi Arabian dairy giant Almarai in 2009, and bought Brazilian coconut water company Amacoco.

Finance Hispanic Unemployment Hits Another Record Low
Author: 0 Hispanic Unemployment Hits Another Record Low

Employment in professional and business services increased by 51,000 in July and has risen by 518,000 over the year. Retail added only 7,000 - a number dragged down by huge losses at hobby, toy, and game stores. The average workweek for all private employees decreased to 34.5 hours, from 34.6 hours. Typically, businesses raise wages when it's hard to find the talent they want, but annual wage growth remained at a tepid 2.7 percent, the Labor Department said.

Finance China Imposes $60B Retaliatory Tariffs on U.S.
Author: 0 China Imposes $60B Retaliatory Tariffs on U.S.

Trump has accused China of pursuing unfair trading practices and stealing American firms' intellectual property, while using import tariffs to push Beijing towards renegotiating its trade policy with the US. products targeted in the latest Chinese salvo were a wide range of agricultural and energy products, including liquefied natural gas. The market is not large by value compared with approximately $12 billion of USA crude that came to China past year, but LNG imports could shoot up as ...

Finance OH to have a sales-tax holiday
Author: 0 OH to have a sales-tax holiday

Folders, pencils, calculators, notebook paper, crayons, erasers and blank CDs for computers are tax exempt during the 2018 "Back-to-School Tax Holiday " weekend. Republican Gov. Scott Walker signed a bill in April that created the one-time sales tax holiday . Jamie Burger, owner of Simply Torn boutique on 1935 Elida Road, said that, in the past, she has noticed mainly moms shopping in her store to buy clothing for their school-aged children.

Finance Apple’s Market Cap Hits $1 Trillion
Author: 0 Apple’s Market Cap Hits $1 Trillion

The company on Tuesday reported second-quarter earnings that topped Wall Street expectations , sending shares surging by more than 5% into Wednesday. The stock was last up 2.4 per cent at US$206.41, a hair below US$1 trillion. Jim Cramer, for example, recently argued that Apple shares could start approaching $300.

Finance Tesla CEO Elon Musk's $5 Billion Apology Tour
Author: 0 Tesla CEO Elon Musk's $5 Billion Apology Tour

VideoTesla soared in late trading after second-quarter revenue beat expectations and the cash burn slowed. Tesla said production was rising and a goal of 6,000 cars per week by the end of August had been set. That's substantially less than the 2017 level of $3.4 billion. Adjusted for stock-based compensation, the company lost $US3.06 per share. Tesla said its capital expenses would be slightly below $2.5 billion in 2018, less than last year's $3.4 billion.

Finance Facebook sued after stock plunge 'shocked' market
Author: 0 Facebook sued after stock plunge 'shocked' market

The plaintiff, James Kacouris, filed the lawsuit Friday seeking class action status and to recover damages. During a routine call with analysts, Facebook's chief financial officer, David Wehner, startled brokerages by claiming the company faced a multi-year financial squeeze in the near future.

Finance Facebook sued after stock plunge ‘shocked’ market
Author: 0 Facebook sued after stock plunge ‘shocked’ market

Chief financial officer David Wehner startled analysts by saying the company faced a squeeze on its business that could last years. Facebook has beaten both of those enormous, frightening days on the USA stock market. He cited currency fluctuations and a shift in usage to features where Facebook shows less advertising or charges less due to lower demand. "The extent of the fallout from the Cambridge Analytica scandal and the new European privacy law - known as General Data ...

Finance Here are your Tuesday $522M Mega Millions winning numbers
Author: 0 Here are your Tuesday $522M Mega Millions winning numbers

In addition to the $522 million victor, eight tickets matched the five white balls to win the game's second prize. Eight other tickets also matched all five numbers . Mega Millions drawings are Tuesdays and Fridays and are offered in 44 states, Washington D.C. and the U.S. Virgin Islands. His wife, Kiran Sachdev, says they couldn't sleep at all because even after they closed the store and went home, family members kept calling.

Finance Met Office issues yellow thunderstorm warning for Kent
Author: 0 Met Office issues yellow thunderstorm warning for Kent

The level three heatwave action alert, which is the second highest that can be issued behind a national emergency, will remain in place until Friday (July 27) morning. Overnight temperatures almost everywhere will at least be in the high teens, with thundery showers affecting parts of the Midlands and North East England in the early hours.

Finance Facebook loses $130 bn in just two hour, Zuckerberg $17 bn
Author: 0 Facebook loses $130 bn in just two hour, Zuckerberg $17 bn

The after-hours trading was on lower-than-expected revenue numbers from its second-quarter earnings report . If that loss holds through Thursday's close, he will slip to sixth place from third in the Bloomberg Billionaires Index . Facebook's 2.23 billion monthly active users and 1.47 billion daily active users were both up 11 percent from previous year but also just shy of analyst predictions of 2.25 billion and 1.48 billion, respectively.

Author: 0 Sergio Marchionne, Who Guided Fiat Chrysler's Dramatic Turnaround, Dies

The Chrysler deal was part of a long-standing campaign Marchionne had waged to spur consolidation in the auto industry, which he claimed had far too much capacity for all players to survive. Fiat Chrysler rushed to name a new CEO last weekend after it became clear that Marchionne would not be able to return to work. And the Italian passed away on Wednesday, John Elkann, his replacement as chairman, confirmed.

Finance Alphabet-owned Google continues dominance | Digital
Author: 0 Alphabet-owned Google continues dominance | Digital

But those issues have yet to halt Alphabet , which has grown quarterly revenue at least 20 percent year-over-year for two straight years. Shares rocketed more than 4pc in after-hours trade, as the market welcomed the strong results, in what could be a sign investors tempered.

Finance Trump threatens more tariffs on US trading partners
Author: 0 Trump threatens more tariffs on US trading partners

The official Trump administration line right now is that the trade war he's launched against China, the European Community and others is a total no-brainer, and simply a matter of Uncle Sam deciding to stop being Uncle Sucker. "Either a country which has treated the USA unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs. It's as simple as that". Punishing tariffs have been introduced on imported goods from Canada, China, and the EU.

Finance North Korea hasn't met its promise to return USA war remains
Author: 0 North Korea hasn't met its promise to return USA war remains

Pompeo said that while more work was needed, it was "a very hopeful place that we find ourselves with, making a strategic change for North Korea, giving them the opportunity for a brighter future for their people". US President Donald Trump said there was no hurry to denuclearise North Korea under his accord with Kim Jong-un - a shift in tone from when he said the process would start very soon.

Finance Crude advances as Saudi Arabia dismisses oversupply speculation
Author: 0 Crude advances as Saudi Arabia dismisses oversupply speculation

After the US pulled back from the 2015 Iran Nuclear Deal, US warned other nations including Japan to cease oil imports from Iran. While Saudi Arabia and Russian Federation pledged last month that OPEC would soon decide how to distribute a collective output boost of about 1 million barrels a day, the committee didn't give a recommendation on how they should share out the planned increase during its meeting on Wednesday.

Finance Prime Day 2018: Amazon prepares for huge volume of orders
Author: 0 Prime Day 2018: Amazon prepares for huge volume of orders

The deal is set to expire just after 2:00 AM ET tomorrow, so head to amazon.com to shop the Anker PowerCore 5000 portable charger and more Prime Day countdown deals with your Prime membership . Amazon Prime Music will also be launching specially curated playlists in several Indian languages including Hindi, Tamil, Telugu, Punjabi, Malayalam, Gujarati, Rajasthani, Bengali and two new languages - Assamese and Odia.

Finance Trump Fires Another Volley in US-China Trade War
Author: 0 Trump Fires Another Volley in US-China Trade War

When asked what Beijing would do, foreign ministry spokeswoman Hua Chunying gave no details but said: "We will take firm and forceful measures". It said Beijing would take unspecified "necessary countermeasures" to protect its "core interests".

Finance US Ambassador Plays Down Trump's United Kingdom in 'Turmoil' Comment
Author: 0 US Ambassador Plays Down Trump's United Kingdom in 'Turmoil' Comment

Before he arrived in the UK, Mr Trump had suggested he could meet Mr Johnson, which would have embarrassed Mrs May. The British pound on Monday recorded its largest daily drop against the USA dollar in 3-1/2 weeks after two euroskeptic ministers announced their resignation from UK Prime Minister Theresa May's cabinet, leaving the British leader's Brexit plans in chaos.

Finance Elon Musk Says He's 'Happy To Help' Thai Boys Trapped In Cave
Author: 0 Elon Musk Says He's 'Happy To Help' Thai Boys Trapped In Cave

The California tunnel company run by Musk is continuing to maintain a presence at the Thai cave where several boys and their soccer coach are awaiting rescue. Musk first floated plans for how he would help rescue the team on Twitter in response to a plea for help from Twitter user @MabzMagz. The boys became trapped in the cave two weeks ago after water rose and cut them off.

Finance Oil mixed as investors short-cover and Saudi boosts output
Author: 0 Oil mixed as investors short-cover and Saudi boosts output

Some members should remember that the United States is defending them for little reciprocal benefits, he added. In addition to reducing the price of its August barrels, Saudi Arabia also told the Organization of the Petroleum Exporting Countries ( OPEC ) that it increased production by nearly 500,000 barrels per day last month.

Finance Oil Surges Above $75 in NY as Supply Outages Outpace OPEC
Author: 0 Oil Surges Above $75 in NY as Supply Outages Outpace OPEC

Tehran blames rising prices on USA sanctions imposed on Iran and Venezuela , founding members of the cartel. Actual and likely production losses are adding up: (1) production is most at risk in Iran, with the USA administration targeting a significant drop in exports that could threaten more than 1 mb/d by year-end, (2) Venezuela production continues to decline at a pace of c.

Finance China rejects 'blackmail' on eve of USA tariff hike
Author: 0 China rejects 'blackmail' on eve of USA tariff hike

Trade Representative confirmed in an email Thursday. China is expected to retaliate as soon as the U.S. tariffs go into effect, imposing duties on goods worth roughly the same amount but with a greater emphasis on politically sensitive agricultural products.

Finance ‘Impeach 45' apparel at Walmart sparks calls for boycott
Author: 0 ‘Impeach 45' apparel at Walmart sparks calls for boycott

Can we get Shaq to purchase a few of those shirts for Auntie Maxine Waters who chanted "Impeach 45!" to a crowd over the weekend. CafePress has had " Impeach Trump " shirts, caps and throw pillows available on Walmart .com in the past as well, and still offers anti-Trump items along with pro-Trump items.

Finance As Toys
Author: 0 As Toys "R" Us Closes For Good, Workers Campaign For Severance

An obvious frontrunner will be Party City, which hired Jamie Uitdenhowen, a former top executive at Toys "R" Us, as its chief merchandising officer in December 2017 (three months after Toys "R" Us filed for bankruptcy ). This isn't the first time the toy shop has seen a random act of kindness; in December previous year, two anonymous "secret Santas" went in and paid off $10,000 (£7,570) in layaway toys.

Finance Iranians protest dwindling economy, shout 'Death to Palestine'
Author: 0 Iranians protest dwindling economy, shout 'Death to Palestine'

After U.S. President Donald Trump made a decision to withdraw from world powers' deal with Iran on its nuclear program, some U.S. sanctions are to be reimposed in August and some in November. In another video, demonstrators chanted "Neither Gaza nor Lebanon - my soul sacrifices only for Iran". The Tasnim news agency quoted the head of Iran's Chamber of Guilds, Ali Fazeli, as saying that the situation at the bazaar had calmed and that protesters' demands were being "delivered through ...

Finance Trump warns Harley-Davidson: ‘We won’t forget’
Author: 0 Trump warns Harley-Davidson: ‘We won’t forget’

Except the quote was fake. It follows a proposed plan by Harley-Davidson to move some of its production overseas . "That was long before Tariffs were announced", Trump said on Twitter. Rising trade tensions and retaliatory tariffs could pose serious risks for Harley-Davidson, rating agency Moody's said on Tuesday. Trump has not taken the decision lightly and has lashed out in a series of tweets over the past two days.

Finance Etsy sellers confront unknowns after Supreme Court ruling
Author: 0 Etsy sellers confront unknowns after Supreme Court ruling

The Supreme Court's ruling in favour of South Dakota and against Wayfair Inc (W.N) and two other online retailers was a victory for state governments, and a boost for brick-and-mortar stores. But taxpayers could raise challenges, including the argument that collecting sales tax for previous sales could subject the seller to double taxation if the customer had already paid sales tax.

Finance Supreme Court Let States Tax Online Shopping
Author: 0 Supreme Court Let States Tax Online Shopping

The case, South Dakota v. Wayfair , overturned a 1992 Supreme Court decision that protected online vendors from sales tax obligations if the vendor did not have a physical brick and mortar store in the state. Now, for the first time since 1992, any of the USA states have the right to impose a tax on online shopping. A sales tax is supposed to be a broad tax on consumption: You buy and use things, you pay tax.

Finance S.Korea cryptocurrency exchange Bithumb says hacked,…
Author: 0 S.Korea cryptocurrency exchange Bithumb says hacked,…

After deleting the tweet, the exchange just sent out a tweet saying they've suspended deposit and withdrawal services to enhance the security, and no other explanation. As at the time of writing this article, the platform hasn't specified the coins taken from the platform. However, Bithumb reportedly moved a significant amount of Ether tokens to its offline wallet.

Finance Escalating trade war between US & China sends shock waves through markets
Author: 0 Escalating trade war between US & China sends shock waves through markets

We can no longer be the stupid country". For months, the US and China have traded tit-for-tat trade threats, and they have escalated again in just the last few days. "President Donald Trump has raised the stakes once more ". Shanghai stocks plunged to two-year lows. In early European trade London fell 0.8 percent, Paris 1.3 percent and Frankfurt was 1.5 percent down.

Finance European Union says it will start to impose tariffs on USA on Friday
Author: 0 European Union says it will start to impose tariffs on USA on Friday

On March 1, President Donald Trump announced that the United States would be imposing a 25 percent global tariff on all steel imports to the USA and a 10 percent global tariff on all aluminum imports. "We've never seen anything like this", said Mary Lovely, a Syracuse University economist who studies global trade - at least not since countries tried to wall themselves off from foreign competition during the Great Depression.

Finance Supreme Court sides with online sales tax
Author: 0 Supreme Court sides with online sales tax

Alito Jr. and Neil M. Gorsuch. In testimony before the Legislature's House Ways and Means Committee in 2017, analysts gave a rough estimate of $200 million in potential annual new sales tax revenue from applying the sales tax to more remote sales.

Finance Bearish oil seen ahead of OPEC meeting
Author: 0 Bearish oil seen ahead of OPEC meeting

EIA projects that US crude oil production will average 10.8 million barrels per day for full-year 2018, up from 9.4 million barrels per day (bpd) in 2017, and will average 11.8 million bpd in 2019. Tokyo ended 0.8 percent down, while Singapore sank more than one percent, Seoul dropped 1.3 percent and Manila tumbled 2.5 percent. "The whole world has to stand against these arrogant attitudes - and will".

Finance Merkel Says Climate Change Is 'a Fact,' Laments US Stance
Author: 0 Merkel Says Climate Change Is 'a Fact,' Laments US Stance

German Chancellor Angela Merkel has rejected German Interior Minister Horst Seehofer's ultimatum on migrants but has two weeks to find a solution for influx of migrants ahead of the June 28-29 European Union talks. Underlining the unenviable task ahead for Merkel, Welt daily said "it would be nearly a miracle if she emerges a victor from the next European Union summit".

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