Business

Business U.S. and Canada reach trade deal
Author: 0 U.S. and Canada reach trade deal

If those talks lead to a deal, the signatory could potentially be frozen out of the North American pact. Meanwhile, buoyed by a strong USA economy, Trump may keep tariffs on Chinese goods over the long term so the trade war becomes a "new normal", in which United States firms buy products from other exporters, Miller told Al Jazeera.

Business Chhattisgarh cuts Rs 2.50 Value-Added Tax on petrol, diesel
Author: 0 Chhattisgarh cuts Rs 2.50 Value-Added Tax on petrol, diesel

The Centre earlier announced a Rs 2.50 per litre cut in petrol and diesel prices after it reduced excise duty by Rs 1.50 a litre and asked oil companies to absorb another Re 1. If it is serious, it should reduce the tax to what it was when it assumed office. BJP president Amit Shah congratulated all the BJP-ruled states for slashing the fuel prices.

Business Facebook Security Breach Hits 50 Million Accounts And Might Affect Instagram Too
Author: 0 Facebook Security Breach Hits 50 Million Accounts And Might Affect Instagram Too

Facebook has given no comments on this yet but if the hackers sneaked into the user account chances are that some data must have been stolen. After spotting some unusual activity earlier this month, Facebook realized what was going on on Tuesday evening and subsequently revoked these access tokens before disclosing the hack publicly on Friday - though not before 50 million people were affected .

Business General Electric has lost value equal to Facebook since peak
Author: 0 General Electric has lost value equal to Facebook since peak

GE Power's current goodwill balance is about US$23 billion and the goodwill impairment charge is likely to constitute substantially all of this balance, the company said. Just six months after taking over as CEO, Flannery said the company would be forced to pay $15 billion to make up for the miscalculations of an insurance subsidiary.

Business Elon Musk To Step Down As Tesla Chairman After SEC Settlement
Author: 0 Elon Musk To Step Down As Tesla Chairman After SEC Settlement

Musk will be replaced by an independent chairman who has yet to be named. As part of the SEC settlement, Tesla must "put in place additional controls and procedures to oversee Musk's communications". This likely means an end to his off the cuff remarks which include calling a rescuer a "pedo" guy . Saturday's settlement saw the SEC pull back from its demand that Musk be barred from running Tesla, a sanction that many investors said would be disastrous for the loss-making electric carmaker.

Business Nafta: Donald Trump says USA 'not getting along' with Canada
Author: 0 Nafta: Donald Trump says USA 'not getting along' with Canada

The Canadian leader added existing U.S. tariffs on Canadian steel and aluminium, which were implemented in late May, would have to be scrapped before Canada felt confident in signing a new NAFTA agreement. Malmstrom said Trump's comments show that "it is increasingly hard dealing with the Americans". The president said it would be called "USM", for the USA and Mexico, instead of "USMC", and offered blunt criticism of the Canadian team engaged in the talks.

Author: 0 Ford executive says may boost production in China to avoid tariffs

The Prime Minister did not meet with the President in NY, despite both being at the United Nations for three days. The US made a deal with Mexico in August, but stakeholders on both sides of the border have urged for the US to make it a three-way deal and include Canada.

Business Michael Kors to take control of Italy's Versace
Author: 0 Michael Kors to take control of Italy's Versace

The Kors group bought British label Jimmy Choo for £896 million past year, and announced a 26.3 per cent rise in revenue in the quarter ending in June 2018, with Choo contributing 17.2 per cent of the overall figure. Shares of Kors fell 7.4 per cent to US$67.32 in mid-morning trading in NY. Meanwhile, the Versace family owns around 80% of the company and will continue to have a role under any agreement, Bloomberg's report added.

Business Ripple (XRP) To the Moon
Author: 0 Ripple (XRP) To the Moon

If and when that happens, the value of XRP should improve. Support needs to hold if Ripple (XRP ) is to make further gains. As Christine Masters said in her piece detailing the price correction, Ripple's announcement of xRapid-its low-priced liquidity solution for banks that uses XRP-may not have had a strong effect on the price.

Business Amazon Could Spend $3 Billion on ‘Go’ Stores, Analyst Says
Author: 0 Amazon Could Spend $3 Billion on ‘Go’ Stores, Analyst Says

The company unveiled its first cashierless store near its headquarters in Seattle in 2016 and has since announced two additional sites in Seattle and one in Chicago. Online retail behemoth Amazon is planning a big move that may affect millions of Americans, and chip away at one of the biggest forms of employment in the nation.

Business Trump extends Chinese trade war tariffs
Author: 0 Trump extends Chinese trade war tariffs

Trump doubled down on that threat Tuesday, vowing punitive measures against China if it targets politically potent USA agricultural products for retaliation. While Chinese manufacturing greatly depends on US technology, China is pulling ahead in some areas, including electric cars and artificial intelligence.

Business US Tariffs Now Include Wireless Routers, China Responds
Author: 0 US Tariffs Now Include Wireless Routers, China Responds

Still, American consumers could start feeling the cost of the tariffs for everyday goods, as the latest move brings all Chinese imports subject to a new tariff to $250 billion, roughly half of China's shipments to the U.S. "These new retaliatory tariffs run afoul of the carefully tailored provisions of the Trade Act of 1974, which require any action to be within the scope of the Section 301 investigation", Shapiro said in a statement .

Business Coca-Cola considers cannabis-infused drinks
Author: 0 Coca-Cola considers cannabis-infused drinks

If true, the talks could represent the most significant deal in the history of the cannabis industry. "Entry into a legalized Canadian market allows them to develop and build a brand while not breaking any laws". The company last month said it would acquire the Costa Coffee chain for $5.1 billion . The drinks would not include THC, or tetrahydrocannabinol, the chemical that produces a high.

Business Oil mixed as China tariff talk scotches early rally
Author: 0 Oil mixed as China tariff talk scotches early rally

It arrived at the ship-to-ship transfer area off Dubai on August 7 and has been anchored there since. U.S. light crude oil prices fell by more than a $1 down to $69.22 a barrel. Exports fell 280,000 bpd reaching to 1.9 million bpd from a peak of 2.5 million bpd in May. US production jumped in recent years because of techniques including hydraulic fracturing, or "fracking", which is the use of chemicals, sand, water and high pressure to crack rock formations deep below ground, releasing ...

Business Amazon CEO says ‘HQ2’ decision will be announced before end of year
Author: 0 Amazon CEO says ‘HQ2’ decision will be announced before end of year

The announcement by Bezos, who is now the world's richest person, marks a deeper foray into philanthropy for the e-commerce pioneer, the report noted. The announcement is the latest charitable donation from Bezos, after the Amazon co-founder has seen his net worth balloon to a staggering $150 billion in 2018.

Business Canadian pot users could get flagged at U.S. border
Author: 0 Canadian pot users could get flagged at U.S. border

Canada's marijuana industry has seen valuations balloon in recent months. They could declare users inadmissible - perhaps for life. "If you are thinking about investing in a marijuana-related company, you should beware of the risks of investment fraud and market manipulation ", the SEC said.

Business Hong Kong raises typhoon alert as Mangkhut approaches
Author: 0 Hong Kong raises typhoon alert as Mangkhut approaches

Rain and strong winds lashed Hong Kong Sunday morning as the storm approached. All high-speed and some normal rail services in Guangdong and Hainan provinces were also halted, the China Railway Guangzhou Group Co. Provincial authorities said they evacuated a total of 2.37 million people and ordered tens of thousands of fishing boats back to port before the arrival of what Chinese media has dubbed the " King of Storms ".

Business Turkey's Central Bank Defies Erdogan With Drastic Interest Rate Hike
Author: 0 Turkey's Central Bank Defies Erdogan With Drastic Interest Rate Hike

The decision came after Turkey's central bank increased interest rates in efforts to stop the declining value of the lira . "Turkey is a country that has a net foreign debt of over $400 billion, and where 40 percent of [Turkish] deposits are in foreign currency, so the game could be over in a day".

Business Top White House Economist Says Trump's GDP Claim Was Wrong
Author: 0 Top White House Economist Says Trump's GDP Claim Was Wrong

At a White House briefing, the chairman of the Council of Economic Advisers set the record straight on a tweet Trump posted earlier , where the president said "The GDP Rate (4.2%) is higher than the Unemployment Rate (3.9%) for the first time in over 100 years!" Following last Friday's blockbuster August jobs report, and with nail-biting midterm elections less than 60 days away, the 44th and 45th presidents crossed swords, with Mr Trump continuing to counterpunch through the weekend ...

Business Cryptocurrencies continue to tumble on Goldman reports
Author: 0 Cryptocurrencies continue to tumble on Goldman reports

However, even during the downward trend, bitcoin manages to hold the upper hand over other competing cryptocurrencies in the market that are also suffering the dip of the total market cap. Several small United States firms reshaped their business models to capitalize on the craze for blockchain technology, which supports cryptocurrency .

Business Trump ready to set tariffs on all goods from China
Author: 0 Trump ready to set tariffs on all goods from China

The US has imposed $50 billion worth of tariffs on Chinese goods with another $200 billion in the final stages. He said Friday that tariffs on another US$200 billion in Chinese goods are "in the hopper" and "could take place very soon". Apple, like other tech giants, has benefited from the last year's overhaul to the US tax code, and the company has committed to returning much of the $252 billion in cash it held overseas.

Business Barack Obama returns to politics with Donald Trump take-down
Author: 0 Barack Obama returns to politics with Donald Trump take-down

Speaking in North Dakota, Trump didn't have a substantial rebuttal to Obama's speech-only juvenile insults . Obama warned, however, not to exclusively blame Trump for the rise of the far right and white nationalism, saying that Trump was a "symptom, not the cause" of the nation's divisive politics.