Sunday, 21 October 2018
Latest news
Home » Economy

Economy

FCA reveal new high-cost credit proposals

perth_map

The body is also proposing reforms on rent-to-own operators, door-step lending and catalog credit and store cards, saying that high-cost credit is used by more than 3 million consumers in the United Kingdom. Additionally, the FCA intends to strengthen protections for vulnerable users of high-cost credit in stores and at the door, by introducing new requirements to raise standards in disclosure and sales practices. Read More »

Fiat Chrysler's five-year road map

perth_map

Fiat Chrysler CEO Sergio Marchionne will outline his business plan today for the automaker's next five years in his last big presentation to investors before retiring next year. It said it expects one in every 12 utility vehicle sold industry-wide by 2022 to be a Jeep. Jeep brand chief Mike Manley did not provide a target for 2022 sales, which are now around 1.9 million vehicles a year. Read More »

Air NZ to codeshare with Qantas on domestic flights in NZ, Aus

perth_map

A codeshare deal between former foes Qantas and Air New Zealand will shore up their stronghold in the Australian and New Zealand domestic markets and kick Virgin in the guts, according to aviation sources . "We know certainly that Qantas is a pretty fierce competitor of ours, the most formidable competitor we face, but also the one we respect the most and it makes us a much better airline as a outcome of the announcement", he said. Read More »

Sears stores at Lakeside, Fairlane malls among 4 in MI to close

perth_map

After the latest closings, there will be about 820 Sears and Kmart stores , down from about 2,000 locations five years ago. The only central IL store expected to close is a Sears in Springfield, located at 104 West White Oaks Mall. Furthermore, Sears used to be a goliath in appliance sales, but other large retailers, such as Home Depot and Lowe's, compete strongly in that area now, Saunders said. Read More »

Oklahoma congressmen disagree with Trump on tariffs

perth_map

President of the European Commission, Jean-Claude Juncker, said in a statement: "The EU believes these unilateral USA tariffs are unjustified and at odds with World Trade Organisation rules". European Union leaders also said they will be taking the U.S.to the World Trade Organization (WTO) "trade court" in an attempt to have Mr. Trump's policy declared illegal under global rules. Read More »

Google reportedly won’t renew its controversial military AI contract

Although tech companies often chase contracts in the United States defense sector, Google's involvement in. In the wake of revelations about Google's role in a military image recognition project that led to the resignation of about a dozen employees and a petition signed by thousands more, the company has chose to end ties with the program when the current contract expires next year, Gizmodo reports . Read More »

HKEX to roll out MSCI Asia Ex Japan Index futures

perth_map

Chinese stocks slid on Friday as U.S. tariffs reignited fears of a global trade war, overshadowing China A-shares' long-awaited inclusion in MSCI's benchmark market indexes which had been expected to draw a surge of foreign inflows in coming months. Read More »

Spanish PM To Be Ousted In "No Confidence" Vote

perth_map

Seibert said "Rajoy contributed decisively during his time in government to Spain being able to work its way out of the serious economic and financial crisis of its own". Spain's National Court last week fined the party US$287,000 (NZ$411,000) and handed down tough sentences to 29 businesspeople and party officials, including its former treasurer, Luis Barcenas, who received a sentence of 33 years. Read More »

Move to Vermont, make up to $10,000

perth_map

Vermont has an aging population and only about 625,000 residents, which is creating a shrinking tax base. Interested workers better act fast. The cap increases in 2020 to $250,000, then drops back down to $125,000 in 2021. Some have been increasing pay and changing payroll practices , while others are beefing up benefits, like offering help paying down student loan debts and flexible schedules. Read More »

Backlash from allies, business associations over steel and aluminum tariffs

perth_map

The tariffs take effect on July 1 and will last until the USA ends its move. He said that the European Union would also launch a dispute settlement procedure against the USA at the WTO. Like the European Commission president, Trudeau also said that they may challenge the move at the World Trade Organization. Trump had offered the two USA neighbours a permanent exemption from the steel and aluminum tariffs if they agreed to U.S. Read More »

OECD increases 2018 GDP prediction for Chile

Political uncertainty in Italy as it struggles to form a government sent renewed shock waves through the Eurozone, a bloc that is already dealing with Britain's exit from the European Union and a global economy which is threatened by a trade war. Read More »

Buffett eyed US$3 bln Uber investment but talks failed

perth_map

Mr Buffett's Berkshire Hathaway would have provided a convertible loan to Uber that would have protected his investment should the Silicon Valley ride-hailing company hit financial crisis, the report said. Asked about whether the talks could resume, Khosrowshahi said it was "always possible" and he would welcome any kind of dialogue with Buffett. But the Berkshire discussions show the company's continued appetite for capital. Read More »

Italian Conte's new government sworn in

perth_map

Cottarelli, whose simplicity startled reporters on Monday when he arrived at the presidential palace by taxi carrying a backpack and pulling his trolley bag, was preparing a slimed-down cabinet of experts with no direct links to political parties to steer the country to elections. Read More »

Italy’s new government wants funds to help countries quit the euro

perth_map

New jitters about the stability of the euro sent the currency's value against the dollar to its lowest level in nearly a year. Shares in Italian banks Banco BPM ( BAMI.MI ), BPER ( EMII.MI ), UBI ( UBI.MI ) and Intesa Sanpaolo ( ISP.MI ) were among the biggest risers on the STOXX, up between 3.3 percent to 8.5 percent after sustaining heavy losses in the previous month. Read More »

Furious leaders in Italy call for fresh elections

perth_map

But the unlikely coalition of the left-wing Five Star Movement (who want a massive increase in entitlement spending) and the far-right League (who want tax cuts) was what initially led to a sell-off of Italian assets. "Italians have to take care of the poor regions of Italy". That likely means an end to Italy's monthslong political crisis and a new government deeply skeptical of the European Union. Read More »

Pedro Sanchez set to become Spain's prime minister

perth_map

The incoming prime minister has outlined that his priorities will be social issues - such as measures to help young people and the elderly - before calling elections, though he hasn't said when there might be a vote. "Today we are signing a new page in the history of democracy in our country". Despite winning the last two votes, he lacked the absolute majority of his first term. Read More »

Trump's Trade Policies 'Completely Backwards': Tariffs Won't Bring Jobs to US

perth_map

In imposing them, the administration is following through on a pledge to do so after having earlier granted exemptions to the affected nations to try to buy time for negotiations. Canadian softwood lumber already faces US tariffs , which the Trump administration imposed past year. But Ross said Thursday that those talks "are taking longer than we hoped". Read More »

USA set to impose tariffs on steel from Canada, EU, Mexico

perth_map

US President Donald Trump announced plans for tariffs on foreign steel and aluminium in March, justifying them on national security grounds. Canada also offered aid immediately after the terrorist attacks on 9/11. "This is protectionism, pure and simple", European Commission President Jean-Claude Juncker said in a statement . French Finance Minister Bruno Le Maire, left, and U.S. Read More »

De Beers targets millennials with man-made diamonds

perth_map

Consumer research found that people want "affordable fashion jewelry that may not be forever, but is flawless for right now", Bruce Cleave, CEO of De Beers, said in a statement, referencing the company's famed "A diamond is forever" slogan. Read More »

Trump to remove tariff exemption from EU, Canada, Mexico

perth_map

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 21, 2018. European Commission President Jean-Claude Juncker told AP that "it's totally unacceptable that a country is imposing unilateral measures when it comes to world trade". Read More »

Mexico hits back at USA steel, aluminum tariffs with ‘equivalent’ measures

perth_map

US Treasury Secretary Steven Mnuchin is due to hold meetings with his European counterparts to discuss President Donald Trump's confrontational trade agenda, officials said . An announcement is expected as early as Thursday (May 31). European Union leaders have a "gun held to their head" over the threat of U.S. tariffs on steel imports, the head of trade body UK Steel has warned. Read More »

Singapore Details Restart of World's Longest Flight

perth_map

At a scheduled 18 hours 45 minutes in length, and a distance of 9,537 miles, this "Singapore-New York" connection will be the world's longest passenger service. Currently, Singapore Airlines is the only airline that has ordered the Ultra Long Range (ULR) variant of the A350. " Singapore Airlines has always taken pride in pushing the boundaries", says the airline's CEO, Goh Choon Phong. Read More »

Australians will no longer be able to order from Amazon’s American site

perth_map

After that date, Aussie customers who attempt to visit the United States version of Amazon or any of Amazon's overseas sites will find themselves redirected to Amazon's Australian site, which offers a much smaller selection of items. It is understood that Amazon baulked at the massive administrative burden of tracking Australian GST from all overseas transactions. Retail stocks on the ASX rose following Amazon's announcement. Read More »

Burger King debuts Whopper Donut on National Donut Day

perth_map

Snag one free doughnut of your choice; no purchase necessary. This Belmont-Cragin doughnut shop will be giving away its signature red velvet variety for free with any purchase. Stop by anytime day or night for a delicious doughnut, kolache or doughnut slider. New Englewood spot Sputnik will be offering a Regular sized strawberry sprinkle doughnut with the purchase of a cold brew. Read More »

Italy scrambles for political solution with new vote on horizon

perth_map

Three months after March's inconclusive election, talks collapsed on Sunday between Mattarella and the populist parties, Five Star and the League , hoping to form a coalition. "I have always esteemed President Mattarella, but this choice is simply incomprehensible to me", he said. Mattarella expressed his doubts about Savona although the 5 Star Movement and the League refused to back down from their choice, thus creating a standoff, given that Italy's president must approve a government's ... Read More »

Tesla Model 3 earns Consumer Reports recommendation following OTA brake update

perth_map

In response, Tesla CEO Elon Musk last week said he would address the problem with a software update in a few days and improve the Model 3 until it "has better braking than any remotely comparable auto". Consumer Reports announced the update to the Model 3's ratings Wednesday. Last week, after CR's road test was published, Tesla CEO Elon Musk tweeted that the firm would fix the issue "within days". Read More »

Singapore Airlines has new longest flight in the world to NY

perth_map

However, its latest decision comes as carriers look for new sources of revenue in a competitive environment, while long-haul flights often make more cash than those that require stops. It expects to receive its first A350-900ULR in September, with all seven on order due by the end of the year. "Singapore Airlines has always taken pride in pushing the boundaries to provide the best possible travel convenience for our customers", Singapore Airlines' CEO, Goh Choon Phong, said in a statement. Read More »