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Trump vows to impose tariffs on more Chinese goods

The 25 percent tariffs also will apply to a broad range of Chinese electronics, plastics, chemicals and railway equipment that the Office of the U.S. Trade Representative (USTR) has said benefit from the "Made in China 2025" industrial plan, aimed at making China competitive in high-technology industries. Read More »

Tesla board confirms Elon Musk's buyout plans

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Tesla's stock has swung wildly in the past several years, hit by the company's production issues as well as Musk's own explosive remarks on Twitter that have turned off investors. His message followed a report that a Saudi investment fund had taken a almost 5% stake in Tesla. "I do not believe this is the appropriate way to suggest going private", Charles Elson, director of the John L Weinberg Center for Corporate Governance at the University of DE, told CNBC . Read More »

Support for May’s handling of Brexit falls to record low

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Meanwhile British Prime Minister Theresa May , whose blueprint for leaving Europe has come under fire from both Brexiteers and Remainers within her Conservative Party, was in talks with French President Emmanuel Macron at his summer residence in the south of France over the weekend. Read More »

Snap Reports First Drop in Snapchat Daily Users, Saudi Prince Takes Stake

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Snapchat parent Snap reported this afternoon that during the second quarter, the messaging app lost three million daily active users. "Even though our iterative efforts to improve the existing application have helped increase new user retention on Android by almost 20 percent since Q4 of 2016, we believe that rewriting the application presents a big opportunity because it takes advantage of the latest Android capabilities and has a modularized structure that will make it easier for us to ... Read More »

Ola drives ride-hailing shake-up with United Kingdom debut

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However, the US firm's legal woes continue as the Licensed Taxi Drivers Association said it was seeking advice about potential class action against Uber, over losses to earnings. Ola's latest moves to expand overseas is part of a broader company strategy to create a massive worldwide business that will be generate consistent revenues , alongside its domestic Indian operations. Read More »

Oil rises as US renew sanctions against Iran

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The sanctions did not include Iran's oil exports. The last time Iran was sanctioned, it lost half of its exports, which have now returned to 2.4 million barrels per day. WTI has resistance at $69.64 to $70.42 and support at $67.00 to $66.81. "Anyone doing business with Iran will not be doing business with the United States", he stated through his Twitter account. Read More »

Tesla shares halted as Elon Musk tweets he'll take the firm private

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The company had a market value of $58 billion as of Monday's close. Factoring in $US8.8 billion ($11.9 billion) in debt, Musk's ganja-friendly target price to go private would value the company at around $US80 billion ($107.8 billion ). Elon Musk has "surprised" the market by laying out a tentative plan to privatise the now publicly listed Tesla electric car/solar energy company with a $420 per share price offer. Read More »

Buck a beer by Labour Day weekend, Doug Ford announces

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Barley Days Brewery - one of the first breweries to open in Prince Edward County - has noted they plan to release a $1 beer created specifically for that price point. The minimum retail price for beer was $1 in Ontario between 2005 and 2008, before the government banned it in 2008. "The Premier is asking the beer producers to lower their price". Read More »

Dead fetus found on plane at LaGuardia Airport

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An attendant noticed a large amount of toilet paper in one of the plane's lavatory toilets. The fetus was believed to be five or six months along. American Airlines Flight 1942 , which left Charlotte, North Carolina, at 8:56 p.m. American Airlines said it was assisting police with their investigation. The Port Authority deferred questions to the Queens DA's Office, which said it was looking into the matter. Read More »

Elon Musk tweet: "Considering taking Tesla private"

The company had a market value of $58 billion as of Monday's close. Earlier in the day, the Financial Times reported that Saudi Arabia's sovereign wealth fund, overseen by Crown Prince Mohammed bin Salman, has built an undisclosed stake of between 3- and 5-per-cent stake in Tesla. Read More »

From natural gas to chicken breasts - China commodity tariffs

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China earlier announced it has prepared a list of $ 60 billion worth of us goods to hit with duties should the USA follow through on a plan to impose tariffs on an additional $200 billion of Chinese goods, as early as next month. Our market is stronger than ever, and will go up dramatically when these awful Trade Deals are successfully renegotiated. China has now either imposed or proposed tariffs on US$110 billion in U.S. Read More »

Facebook Asks Banks to Share Customer Information

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Despite this, Facebook claimed in a statement that the data would not be used for advertisement targeting. Facebook is now discussing partnership ideas with firms like Citigroup Inc., Wells Fargo , and JPMorgan Chase , but the Cambridge Analytica incident has reportedly caused at least "one large USA bank" to pull out of the talks. Read More »

NASCAR CEO Brian France charged with DUI

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Sag Harbor Village Police pulled over France at 7:30 p.m. after he ran a stop sign while driving his 2017 Lexus down Main Street, Sgt. Robert Drake said in a news release. The National Associated for Stock Car Auto Racing can safely describe itself as a family business. His grandfather William HG France founded the organisation, while his father, Bill Jr, also served as CEO until he stepped down in 2000. Read More »

California office pool wins $543 million lottery jackpot

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The players range in age between 21 years old and 60 years old, and reportedly chose to buy a ticket on a whim given the size of the jackpot. "We want to keep our jobs", one victor said in a statement released by Mega Millions. "We have a good time and want to stay together". The lottery also did not say if the winners had made a decision to take a lump-sum payment of $320.5 million, or to accept annual payments spread out over 30 years. Read More »

5 dead after airplane crashes in California CVS parking lot

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The victims were Navid Hakimi, 32, of Los Angeles; Floria Hakimi, 62, of Danville; Nasim Ghanadan, 29, of Alamo; Scott Shepherd, 53, and Lara Shepherd, 42, both of Diablo, according to the Orange County Coroner . The pilot declared an emergency before crashing at 12:28 p.m.in a shopping center parking lot about a mile from John Wayne Airport. The plane also hit a vehicle (pictured), but no one was reported injured. Read More »

Indra Nooyi to step down as PepsiCo chief executive

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Nooyi (62)-who has been with PepsiCo for 24 years and 12 years as CEO-will remain chairman of the company until early 2019 to ensure a smooth and seamless transition. The company's shares have gained 78 per cent since Ms Nooyi took the top job in 2006. Nooyi will be succeeded on October 3 by Ramon Laguarta, who has served as Pepsi's president since previous year. Read More »

Coinbase Finally Completes Its Plans To List Ethereum Classic

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As soon as the needed liquidity is attained, ETC will be listed on Coinbase Consumer, and this might take a week or two after the commencement of trading on Pro and Prime . Currently, according to Coinmarketcap.com , the asset is trading at $17.52, having sprung upon the news by over 14 percent within an hour. According to a blog post published on Friday, Coinbase Custody is also looking to add various existing and upcoming crypto assets for storage purposes, though not for trading at ... Read More »

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

Trump suggested that his use of tariffs has directly damaged the Chinese economy, something that he said would continue unless they agreed to his demands, which includes allowing more USA exports and investments. China responded with tariffs on $3 billion worth of USA items, largely agricultural products and metal. The tariffs were the result of a Section 301 trade investigation launched the previous summer. Read More »

Iran receives more airplanes ahead of renewed US sanctions

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China , for its part, has agreed to not ramp up purchases of Iranian crude to "ease concerns that China is working undermine U.S. efforts", according to the Bloomberg report. Iran has said it will not accept any attempts to halt the country's oil exports. Trump unilaterally withdrew the U.S. from the multilateral deal with Iran in May and announced plans to reimpose sanctions on the Islamic Republic, that would eliminate Tehran's oil revenues. Read More »

RBS to pay first divi in a decade

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The interim dividend is subject to the bank finalising the penalty with the US Department of Justice. The bank added further distributions are not likely to happen until 2019. RBS shares rose 3% to 257.6p in early trading on Friday. In February this year, it announced its first profits since the crisis . They declined by 3.6% versus the same period of the previous year. Read More »

US trade deficit expands in June

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Higher shipments of passenger cars and lights trucks south of the border helped drive up Canadian exports to the United States by 2.5 per cent in June to a record $37.1 billion, Statistics Canada reported Friday. fell 7.0 percent in the month. And bilateral United States deficits widened with China , the European Union, Canada and Mexico, all trading partners that have retaliated against President Donald Trump's multi-front global trade war. Read More »

WhatsApp to Generate Revenue from Business App

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The main aim of the app is to reach all the potential customers at scale. "Ads will run on Facebook's advertising system, and WhatsApp says it's confident users will adapt to this new approach", added the report. On August 1st, WhatsApp announced in its blog post that new tools will allow businesses to offer customer support via WhatsApp chat, which will be a great addition to the service. Read More »

Oil trades near $68 as inventory, Opec outputs weigh on market

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According to the Weekly Petroleum Status Report , U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR), increased by 3.8 million barrels last week. Distillate fuel inventories increased by 2.98 million barrels last week, but 16.9 percent below the levels of the same week a year ago. Total volume traded was about 30 percent below the 100-day average. Read More »

Employment overall lags, while trucking adds 4400 jobs in July

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The United States' headline unemployment rate dropped to 3.9 per cent in July, a month in which nonfarm payrolls in the world's largest economy rose by 157,000, the Labour Department said on Friday. There have also been concerns that the trade tensions could dampen business confidence and lead companies to shelve spending and hiring plans. Although the labor force participation rate was unchanged at 62.9%, it increased for the prime working-age cohort (25-54 years). Read More »

RBI hiked the benchmark repo rate by 25bps - TDS

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With five out of the six members voting for the increase, the Monetary Policy Committee (MPC) headed by RBI Governor Urjit Patel increased repo rate, at which it lends to other banks, to 6.5 per cent from 6.25 per cent now but kept its policy stance as "neutral". Read More »

Will Apple’s $1 Trillion Milestone Give Tim Cook a Pay Raise?

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Not to mention it wasn't a wholly public company. Those equities were set up to be paid out over the term of 10 years, provided that Apple's stock growth consistently exceeds the S&P 500 index. Wall Street thinks Apple could go even higher. Cook had not previously publicly commented on the company's $1 trillion valuation. He ended the letter writing: "Just as Steve always did in moments like this, we should all look forward to Apple's bright future and the great work we'll do ... Read More »

Foodora pulls out of Australia, to leave other markets

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It is a disgrace that it has given them notice of just one week of "normal" work. Foodora Australia country manager Jeroen Willems said that "we wish to express our gratitude to all of our customers, contractors and employees for their dedication to Foodora Australia, and for allowing us to be a part of their everyday". Read More »

FCA moves to ban United States sales of Mahindra's Jeep knockoff

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According to Bloomberg , Fiat Chrysler in its petition to the US International Trade Commission asking the organization to conduct an investigation into the Roxor , claiming the Mahindra SUV is a clear copy of the iconic Jeep design and is modelled after the original Willys Jeep used in the Second World War. Read More »