Markets
JPMorgan CEO Jamie Dimon on Trump: My wealth no "gift from daddy"
- September 14, 2018
Despite speculation he may run for office, Dimon said earlier this year that he's committed to remaining at JPMorgan Chase for another five years, which would rule out a presidential campaign in 2020. Dimon also suggested that his wealth was earned, and not given to him by his father - another jab at Trump, whose father, Fred, gave him $1 million in financing, millions drawn against his future inheritance and a share of his real estate holdings. (more...)
- September 14, 2018
Despite speculation he may run for office, Dimon said earlier this year that he's committed to remaining at JPMorgan Chase for another five years, which would rule out a presidential campaign in 2020. Dimon also suggested that his wealth was earned, and not given to him by his father - another jab at Trump, whose father, Fred, gave him $1 million in financing, millions drawn against his future inheritance and a share of his real estate holdings. (more...)
Turkey raises interest rates to 24% in new bid to boost lira
- September 14, 2018
The dual developments on Thursday pushed the lira as high as 6.08 against the dollar and it traded flat on Friday morning, standing at 6.03 to the dollar at 07:28 GMT. The lira is down 38% against the dollar this year despite Thursday's slim gain. Earlier in the day, Erdogan sowed confusion throughout the business community by publishing a decree making the lira the only currency that can be used in contracts between Turkish entities. (more...)
- September 14, 2018
The dual developments on Thursday pushed the lira as high as 6.08 against the dollar and it traded flat on Friday morning, standing at 6.03 to the dollar at 07:28 GMT. The lira is down 38% against the dollar this year despite Thursday's slim gain. Earlier in the day, Erdogan sowed confusion throughout the business community by publishing a decree making the lira the only currency that can be used in contracts between Turkish entities. (more...)
Amazon's Bezos comments on Trump criticism
- September 14, 2018
He said on Thursday that the "Bezos Day One Fund" will contribute to "existing nonprofits that help homeless families" and also fund "a network of new, nonprofit, tier-one preschools in low-income communities". Since then, he and his wife have built the Bill & Melinda Gates Foundation, which had an endowment of US$51 billion at the end of 2017 and pledges to spend all its resources within 20 years of its founders' deaths. (more...)
- September 14, 2018
He said on Thursday that the "Bezos Day One Fund" will contribute to "existing nonprofits that help homeless families" and also fund "a network of new, nonprofit, tier-one preschools in low-income communities". Since then, he and his wife have built the Bill & Melinda Gates Foundation, which had an endowment of US$51 billion at the end of 2017 and pledges to spend all its resources within 20 years of its founders' deaths. (more...)
Confirmed: Carney to stay on at Bank of England until January 2020
- September 14, 2018
British media had previously reported the finance ministry was keen for Carney to extend his stay and was having difficulty finding a suitable successor. Hammond had earlier said that Carney would stay on as governor of the central bank until the end of January 2020 to help navigate the turbulence of Brexit, with Britain due to depart the bloc in March 2019. (more...)
- September 14, 2018
British media had previously reported the finance ministry was keen for Carney to extend his stay and was having difficulty finding a suitable successor. Hammond had earlier said that Carney would stay on as governor of the central bank until the end of January 2020 to help navigate the turbulence of Brexit, with Britain due to depart the bloc in March 2019. (more...)
United States businesses to lobby against Trump's tariffs
- September 14, 2018
China has also warned it could unleash "qualitative" measures, which US business groups have interpreted as more burdensome regulations, stalled visas and other red-tape headaches. Trump imposed his first phase of tariffs this summer on $50 billion of Chinese goods, including high-end technology parts and manufactured goods, while Beijing fired back dollar-for-dollar at USA soybeans, autos and other farm goods. (more...)
- September 14, 2018
China has also warned it could unleash "qualitative" measures, which US business groups have interpreted as more burdensome regulations, stalled visas and other red-tape headaches. Trump imposed his first phase of tariffs this summer on $50 billion of Chinese goods, including high-end technology parts and manufactured goods, while Beijing fired back dollar-for-dollar at USA soybeans, autos and other farm goods. (more...)
Canada's Freeland says U.S. NAFTA talks still constructive, productive
- September 14, 2018
Lighthizer said on Monday Mexico had agreed to cut the mechanism but Canada wants to keep dispute resolution in NAFTA . Asked if it would be gone from a NAFTA deal, he said, "I think it should be". "There are nearly two dozen chapters closed" in the NAFTA deal including reducing red tape on cross-border trade, he said on Monday. After her stop in Washington , Freeland is due to attend this week's meetings of the governing Liberal Party of Canada in Saskatoon, Saskatchewan. (more...)
- September 14, 2018
Lighthizer said on Monday Mexico had agreed to cut the mechanism but Canada wants to keep dispute resolution in NAFTA . Asked if it would be gone from a NAFTA deal, he said, "I think it should be". "There are nearly two dozen chapters closed" in the NAFTA deal including reducing red tape on cross-border trade, he said on Monday. After her stop in Washington , Freeland is due to attend this week's meetings of the governing Liberal Party of Canada in Saskatoon, Saskatchewan. (more...)
Turkey central bank stuns markets with giant rate hike
- September 14, 2018
It later shed some of those gains but was still up 3.0 per cent in value at 6.14 to the dollar. On Thursday he ruled that property sales and rental agreements must be made in lira , putting an end to such deals in foreign currencies . The embattled currency has fallen by 40% this year amid a lack of interest rate hikes to control inflation. The bank is also fighting a losing battle against inflation with annual consumer price inflation hitting 17.9 percent last month, its highest level ... (more...)
- September 14, 2018
It later shed some of those gains but was still up 3.0 per cent in value at 6.14 to the dollar. On Thursday he ruled that property sales and rental agreements must be made in lira , putting an end to such deals in foreign currencies . The embattled currency has fallen by 40% this year amid a lack of interest rate hikes to control inflation. The bank is also fighting a losing battle against inflation with annual consumer price inflation hitting 17.9 percent last month, its highest level ... (more...)
Fuel price touches fresh high; Petrol near Rs. 90 in Mumbai
- September 12, 2018
As many as 21 political parties partook in the Bharat Bandh yesterday, which was initiated by Congress and other leading Opposition parties. However, the court asked the government to consider an earlier representation pending before it on price rise of petrol and diesel and listed the matter for further hearing on November 16. (more...)
- September 12, 2018
As many as 21 political parties partook in the Bharat Bandh yesterday, which was initiated by Congress and other leading Opposition parties. However, the court asked the government to consider an earlier representation pending before it on price rise of petrol and diesel and listed the matter for further hearing on November 16. (more...)
Apple Leaks The iPhone XS, XS Max, XR
- September 12, 2018
The phone shown in the ad is different from the phone in an earlier dual-SIM iPhone leak, so we may be looking at different models or an inaccurate leak. Additionally, the drilled holes on the bottom could bring asymmetry, with four to the left of the charging port, and seven on the other side. Renders of the new iPhones based on official leaked images . (more...)
- September 12, 2018
The phone shown in the ad is different from the phone in an earlier dual-SIM iPhone leak, so we may be looking at different models or an inaccurate leak. Additionally, the drilled holes on the bottom could bring asymmetry, with four to the left of the charging port, and seven on the other side. Renders of the new iPhones based on official leaked images . (more...)
Ford rules out building Focus Active in US
- September 12, 2018
It added that substantial tariff increases will limit its ability to reinvest in US operations, affecting employees engaged in R&D, design, other support operations. For years we did this on Wall Street, focused on public tech companies. According to CNBC , BofA noted that a 25 percent tariff "could be materially demand destructive" and estimates that about a third of the $26 billion it earns from those products comes from the United States. (more...)
- September 12, 2018
It added that substantial tariff increases will limit its ability to reinvest in US operations, affecting employees engaged in R&D, design, other support operations. For years we did this on Wall Street, focused on public tech companies. According to CNBC , BofA noted that a 25 percent tariff "could be materially demand destructive" and estimates that about a third of the $26 billion it earns from those products comes from the United States. (more...)
Apple has accidentally revealed the Apple Watch 4 sizes
- September 12, 2018
Latest news suggests fans will be shown three new iPhone devices later today which could include an update to the current iPhone X along with a much larger smartphone and also a cheaper version of this all-screen flagship. The third phone , a new low-priced version of the iPhone X, could be the hit of the product roll out. Meanwhile, the iPhone Xr will have a 6.1-inch display, will come in 64GB and 256GB storage variants, and will be available in Black, White, Red, Yellow, Blue, ... (more...)
- September 12, 2018
Latest news suggests fans will be shown three new iPhone devices later today which could include an update to the current iPhone X along with a much larger smartphone and also a cheaper version of this all-screen flagship. The third phone , a new low-priced version of the iPhone X, could be the hit of the product roll out. Meanwhile, the iPhone Xr will have a 6.1-inch display, will come in 64GB and 256GB storage variants, and will be available in Black, White, Red, Yellow, Blue, ... (more...)
Hurricane Florence Set To Hit US East Coast
- September 12, 2018
Byard, the FEMA official, said "this storm is not going to be a glancing blow". North Carolina Governor Roy Cooper has told locals "don't bet your life on riding out a monster" as 140mph winds get set to batter the shoreline, with SC and Virginia also braced for impact. (more...)
- September 12, 2018
Byard, the FEMA official, said "this storm is not going to be a glancing blow". North Carolina Governor Roy Cooper has told locals "don't bet your life on riding out a monster" as 140mph winds get set to batter the shoreline, with SC and Virginia also braced for impact. (more...)
White House adviser admits Trump got his facts wrong in economy tweet
- September 12, 2018
The economy's growth rate, which reached 4.2 percent in the April-June quarter, has been higher than the unemployment rate dozens of times since World War II. And many conservative politicians and pundits were happy to get the chance to relive the Obama years and point to what they perceive as his failures in office. (more...)
- September 12, 2018
The economy's growth rate, which reached 4.2 percent in the April-June quarter, has been higher than the unemployment rate dozens of times since World War II. And many conservative politicians and pundits were happy to get the chance to relive the Obama years and point to what they perceive as his failures in office. (more...)
Track Hurricane Florence as it heads for the East Coast
- September 11, 2018
The storm is forecast to approach the Carolinas Thursday, and then make landfall late Thursday night through early Friday. With "monumental" rainfall totals of up to 40 inches possible, "the rain from Florence may break all-time state records for rainfall from a hurricane or tropical storm", Weather Underground meteorologist Jeff Masters said . (more...)
- September 11, 2018
The storm is forecast to approach the Carolinas Thursday, and then make landfall late Thursday night through early Friday. With "monumental" rainfall totals of up to 40 inches possible, "the rain from Florence may break all-time state records for rainfall from a hurricane or tropical storm", Weather Underground meteorologist Jeff Masters said . (more...)
Asian stocks mixed on fears of more USA tariffs on China
- September 11, 2018
Apple said the tariffs would raise the cost of its US operations and put it at a disadvantage to foreign rivals. In January, the company also announced its "direct contribution" to the USA economy through investments and other spending would exceed $350 billion over the next five years, while it would establish a new Apple campus to house technical support for customers. (more...)
- September 11, 2018
Apple said the tariffs would raise the cost of its US operations and put it at a disadvantage to foreign rivals. In January, the company also announced its "direct contribution" to the USA economy through investments and other spending would exceed $350 billion over the next five years, while it would establish a new Apple campus to house technical support for customers. (more...)
Trump's tweet doesn't convince Ford to build small crossover SUV in US
- September 11, 2018
Chien Bor-yi, an analyst at Taipei-based Cathay Futures Consultant, said Apple's component supply chain in Taiwan would take a major hit if the United States increased tariffs on Chinese imported products. "Without the tariffs, the business case was pretty solid for that model in the United States market", he said. According to the automaker, the levies President Trump is threatening to impose on China-imported vehicles would be simply too much for the company. (more...)
- September 11, 2018
Chien Bor-yi, an analyst at Taipei-based Cathay Futures Consultant, said Apple's component supply chain in Taiwan would take a major hit if the United States increased tariffs on Chinese imported products. "Without the tariffs, the business case was pretty solid for that model in the United States market", he said. According to the automaker, the levies President Trump is threatening to impose on China-imported vehicles would be simply too much for the company. (more...)
State govts rake in more revenues as fuel prices rise
- September 11, 2018
Instead, more states are expected to reduce VAT , which will lower prices without impacting the Centre's tax collection. Retail prices of fuels vary depending on local taxes, dealer commissions and the costs incurred in transporting them from refineries. (more...)
- September 11, 2018
Instead, more states are expected to reduce VAT , which will lower prices without impacting the Centre's tax collection. Retail prices of fuels vary depending on local taxes, dealer commissions and the costs incurred in transporting them from refineries. (more...)
Apple faces Trump's ire after company says tariffs would hurt products
- September 10, 2018
Ford added in its statement that it's committed to "growing its US vehicle lineup - including introducing all-new trucks, utilities, hybrids and fully electric vehicles". Trump has imposed tariffs on $50 billion in Chinese imports to remedy what he calls unfair Chinese trade practices. Official and private manufacturing surveys for China show global demand for Chinese goods is clearly on the wane, with export orders shrinking for months in a row."Risks have increased due to the negative ... (more...)
- September 10, 2018
Ford added in its statement that it's committed to "growing its US vehicle lineup - including introducing all-new trucks, utilities, hybrids and fully electric vehicles". Trump has imposed tariffs on $50 billion in Chinese imports to remedy what he calls unfair Chinese trade practices. Official and private manufacturing surveys for China show global demand for Chinese goods is clearly on the wane, with export orders shrinking for months in a row."Risks have increased due to the negative ... (more...)
Petrol, Diesel prices hiked again, rates at record high
- September 10, 2018
Price of price per litre in Ahmedabad rose by 55 paise, while that of diesel rose by 48 paise, a sea change compared to daily changes of about three or four paise that was happening on most days till now. "Common man is suffering a lot due to the increasing prices of fuel". Since oil prices have started rising, following United States sanctions on Iraq and the slide of the rupee against the dollar, there have been calls to reduce tax. (more...)
- September 10, 2018
Price of price per litre in Ahmedabad rose by 55 paise, while that of diesel rose by 48 paise, a sea change compared to daily changes of about three or four paise that was happening on most days till now. "Common man is suffering a lot due to the increasing prices of fuel". Since oil prices have started rising, following United States sanctions on Iraq and the slide of the rupee against the dollar, there have been calls to reduce tax. (more...)
China promises to retaliate if U.S. imposes more tariffs
- September 10, 2018
The $200 billion of Chinese goods on the USA list includes some consumer products such as cameras and recording devices, luggage, handbags, tires and vacuum cleaners, with additional tariffs ranging from 10 to 25 percent. Official and private manufacturing surveys for China show global demand for Chinese goods is clearly on the wane, with export orders shrinking for months in a row."Risks have increased due to the negative impacts of China-U.S. (more...)
- September 10, 2018
The $200 billion of Chinese goods on the USA list includes some consumer products such as cameras and recording devices, luggage, handbags, tires and vacuum cleaners, with additional tariffs ranging from 10 to 25 percent. Official and private manufacturing surveys for China show global demand for Chinese goods is clearly on the wane, with export orders shrinking for months in a row."Risks have increased due to the negative impacts of China-U.S. (more...)
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Bill and Melinda Gates get asked whether billionaires should exist