Business

Oil holds gain near $69 amid declining USA crude inventories

Oil holds gain near $69 amid declining USA crude inventories The tension between U.S. and China however, may partially blunt the effect of Iran sanctions on India's oil sourcing. West Texas Intermediate (WTI) crude for September delivery traded at $68.83 a barrel on the New York Mercantile Exchange, down 18 cents, at 9:05 a.m.in Tokyo. [Full Article...]

Local Brewers react to 'Buck-a-Beer' program

Local Brewers react to 'Buck-a-Beer' program The slogan is reminiscent of old-fashioned saloons offering "free lunch" and the ultimate truth that there is none. Andrea Horwath, the leader of Ontario's New Democratic Party, slammed Ford for keeping his promises regarding beer while turning his back on the 4,000 residents who were relying on the unconditional payments to buy healthier food, access childcare or go back to school. [Full Article...]

Trump says tariffs working far better than anticipated

Trump says tariffs working far better than anticipated That move was a response to the Trump administration's proposal of a 25-percent tariff on $200 billion worth of Chinese imports . The move was meant to bring China back to the negotiating table for talks over USA demands for structural changes to the Chinese economy and a cut in the bilateral trade deficit , but China's response suggests the move had failed. [Full Article...]

Tesla Gains Nearly $4 Billion After Single Questionable Elon Musk Tweet

Tesla Gains Nearly $4 Billion After Single Questionable Elon Musk Tweet Musk and his luxury automaker have been under huge pressure to overcome repeated delays and deliver on promises of producing 5,000 of Tesla's more affordable Model 3 cars per week. Tesla did not immediately respond to a request for comment. Earlier, it was learned that Tesla had secured a $2 billion investment from Saudi Arabia's sovereign wealth fund. [Full Article...]

China’s Retaliatory Tariffs: A Roundup of Effects on U.S. Commodities

China’s Retaliatory Tariffs: A Roundup of Effects on U.S. Commodities But Shi said the retaliatory trade measures were not over yet. Under the new plan, tariffs of 25% would be applied. So this unifies NAFTA and U.S., Europe, Australia, Japan. The Chinese government did not specify what types of American products would be affected or when those tariffs would take effect. Trump apparently believes he can control the response of USA trading partners to his threats... [Full Article...]

Oil steadies to trade higher after losses

Oil steadies to trade higher after losses Brent for October settlement rose 44 cents to $72.83 a barrel on the London-based ICE Futures Europe exchange. Crude oil production from the Organisation of Petroleum Exporting Countries increased last month as Saudi Arabia pumped near-record volumes to make good on a pledge to consumers that demand would be met. [Full Article...]

Scattered protests in Iran as USA sanctions loom

Scattered protests in Iran as USA sanctions loom But as the new Indian fiscal year began in April, refiners have been taking more Iranian oil imports compared to the previous fiscal year, as Iran offered incentives such as extended credit periods and nearly free shipping to keep its market share in India-Tehran's second-largest oil customer after China . [Full Article...]

Apple Becomes 1st American Public Company To Reach $1 Trillion Value

Apple Becomes 1st American Public Company To Reach $1 Trillion Value During the session, Apple's stock market value reached as much as $1.006 trillion . With a closing price of $207.39 on Thursday, Apple became the first publicly listed US company to ever reach $1 trillion in market capitalization. "While we have much to be proud of in this achievement, it's not the most important measure of our success", Cook wrote. Apple became the first company with a... [Full Article...]

Even at $1 Trillion, Apple May Be Undervalued by Half

Even at $1 Trillion, Apple May Be Undervalued by Half Given the volatile nature of the stock market, Apple's Trillion Dollar valuation may get affected multiple times. In 2007, Chinese government-controlled PetroChina 601857.SS briefly reached a stock market value of about $1.1 trillion following its public listing in Shanghai. [Full Article...]

Risk of Britain leaving European Union without a deal is 'uncomfortably high;' Carney

Risk of Britain leaving European Union without a deal is 'uncomfortably high;' Carney The pound made gains versus the euro following the rate increase up by almost 0.3% at 1.128, but was still trading lower by around 0.1% against the USA dollar at 1.311. He told the BBC that a no-deal Brexit would mean disrupted trade and higher prices and was "highly undesirable". This week's 0.25 percentage point rise on the base interest rate could spell the end of cheap money for borrowers ... [Full Article...]

China plans tariffs on $60bn of imports to counter Trump

China plans tariffs on $60bn of imports to counter Trump China recently threatened to slap retaliatory tariffs on an additional $ 60 billion in us goods. China's finance ministry unveiled new sets of additional tariffs on 5,207 goods imported from the United States, with the extra levies ranging from 5 to 25 percent. [Full Article...]

Apple is first public company worth $1 trillion

Apple is first public company worth $1 trillion It now accounts for 4 percent of the S&P 500. Digging the information further, Apple technically is not the first company to hit $ 1 trillion mark in the U.S. Despite the day's reprieve for Wall Street, concerns remained over the U.S. As with other landmarks - such as the Dow crossing 25,000 points for the first time - the Apple record is significant because of its resonance beyond the fin... [Full Article...]

Tesla adds 'Party & Camper mode' to Model 3, S and X

Tesla adds 'Party & Camper mode' to Model 3, S and X CEO Elon Musk has said that the company would become profitable by late this year as it ramps up production and deliveries of the Model 3 . Tesla offered generally positive guidance, including its forecast to be cash flow positive, for the second half of the year, and share prices spiked 9 percent in after-hours trading. [Full Article...]

USA hits Turkey with new sanctions over detained minister

USA hits Turkey with new sanctions over detained minister Speaking privately to journalists late Saturday, President Erdogan broke his silence on the crisis, saying the US can't use sanctions to make Turkey back down. In a tweet translated by the state-run Anadolu news agency , Cavusoglu also vowed that the "US attempt to impose sanctions on our two ministers will not go unanswered". [Full Article...]

China trade dispute likely to escalate further, may derail global growth: Moody's

China trade dispute likely to escalate further, may derail global growth: Moody's The Trump administration has imposed tariffs on $34 billion in Chinese goods in a dispute over Beijing's high-tech industrial policies. In return, China has levied taxes on the same value of US products. French mining group Eramet warned that current favorable markets could be hurt by trade rows. This practice is absolutely forbidden under World Trade Organization rules, but China gets away ... [Full Article...]

Apple Needs iPhone Prices to Stay Dialed Up

Apple Needs iPhone Prices to Stay Dialed Up Apple shares have climbed 12 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 5 percent. The other notable success: Apple has also seen a strong increase in the amount of money it makes per sale of an iPhone. Revenue from the app store, music subscriptions and other services grew 31 per cent to United States dollars 9.5 billio... [Full Article...]

Dollar extends losses after U.S. reportedly secures trade concessions from EU

Dollar extends losses after U.S. reportedly secures trade concessions from EU In response, we have been slapped with unjust retaliatory tariffs, aimed disproportionately at American farmers. But the auto trade war with Europe is on hold while the USA and European Union engage in further trade talks. After nearly three hours of talks, Trump said he wanted to hold a joint press conference with Juncker to announce the good news. At the same time, he recognized that t... [Full Article...]

Amazon posts record $2.5bn profit fueled by ad and cloud businesses

Amazon posts record $2.5bn profit fueled by ad and cloud businesses The results, announced after markets closed on Thursday, marked the first time Amazon's quarterly profit has broken the $2bn barrier. Total net sales for the second quarter rose 39 percent to $52.89 billion, missing the average analyst estimate of $53.40 billion. [Full Article...]

Twitter shares fall 18% as number of monthly users slips

Twitter shares fall 18% as number of monthly users slips That overshadowed strong monthly user growth of 3 percent compared with the previous year. Twitter said it has been purging offending accounts, which led to many users seeing drops in their official follower counts, but it said a lot of them were inactive already and wouldn't impact monthly user numbers. [Full Article...]

Facebook's stock dives 20% on dire predictions following second-quarter financials

Facebook's stock dives 20% on dire predictions following second-quarter financials That "bombshell", as one analyst termed it, played into concerns on Wall Street that Facebook's model could be under threat after a year that has been dominated by efforts to head off concerns over privacy and fake news . The CEO's own fortune lost $15.4 billion (€13.2 billion) of its value. In addition, the company expects to invest in products like Stories "that now have lower levels of m... [Full Article...]


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