Finance

Tesla Stock Stumbles as Company Asks Suppliers for Help Turning a Profit

Tesla Stock Stumbles as Company Asks Suppliers for Help Turning a Profit The memo, which the paper said was sent by a global supply manager, described the request as essential to Tesla's continued operation and characterized it as an investment in the auto company to continue the long-term growth between both players. [Full Article...]

Akshay Kumar thanks GST council for tax exemption on sanitary napkins

Akshay Kumar thanks GST council for tax exemption on sanitary napkins Besides revenue collection, the GST council will now focus on job creation as well, the Finance Minister said . After scrapping of GST on sanitary napkins , the women politicians, cutting across party lines, have lauded the decision of the Government. [Full Article...]

Trump Threatens to Slap Tariffs on Everything Imported From China

Trump Threatens to Slap Tariffs on Everything Imported From China The president said China had harmed the U.S.by deflating its currency to suppress the price of Chinese goods and violating trade laws. The comments also signaled an undiminished appetite for battle on multiple fronts after a week dominated by coverage of the fallout from his dealings with Russian President Vladimir Putin. [Full Article...]

Though volatile, supply-side woes resurface to push oil prices higher

Though volatile, supply-side woes resurface to push oil prices higher Saudi Arabia's oil production jumped in June by 405,400 bpd compared to May, to reach 10.420 million bpd. The U.S. oil benchmark closed above its 50-day moving average on Thursday after slipping below that level earlier this week. It has lost 0.8 percent this week. That level was always dependent on the strength of domestic and worldwide demand, so could end up ranging from 10.6 million to 11 m... [Full Article...]

No hurry on North Korea denuclearisation

No hurry on North Korea denuclearisation In Fitzpatrick's view, the North has used the promise of war remains as leverage for political objectives, including a peace treaty that replaces the armistice agreement that brought fighting on the Korean Peninsula to an end in July 1953. The Foreign Ministry said that authorities learned of the illegal shipments ahead of the United Nations, and are investigating South Korean importers. [Full Article...]

Mega Millions winning numbers announced for $433M jackpot

Mega Millions winning numbers announced for $433M jackpot The jackpot is now the sixth largest in Mega Millions history, and it's expected to climb even more. Nobody hit the jackpot in Friday night's Mega Millions drawing so the jackpot has gone up to $493 million. In all, three Mega Millions jackpots have been awarded in 2018. Tickets must be purchased by 10:00 p.m. ET, to be eligible for Friday's drawing. A winning ticket will match numbers on a... [Full Article...]

China's luck on yuan devaluation risks running out on Trump ire

China's luck on yuan devaluation risks running out on Trump ire The biggest fallers today have been the automakers with Volkswagen and BMW sharply lower, but the losses have also pulled in BASF, Siemens as well as Deutsche Bank, while on the FTSE100 the worst fallers have been in basic resources and industrials with CRH, Melrose and BHP Billiton all near the bottom of the index. [Full Article...]

Ritz Cracker products recalled over Salmonella fears

Ritz Cracker products recalled over Salmonella fears The recall extends to more than a dozen types of Ritz cracker sandwich and Ritz Bits products sold in the United States, including Puerto Rico and the U.S. Symptoms of salmonella include fever, diarrhea, nausea, vomiting and abdominal pain. In a statement, the company said it is conducting the recalls "out of an abundance of caution". [Full Article...]

Salmonella contamination: crackers and chicken nuggets recalled

Christie brand Ritz Bits Sandwiches in cheese and pizza flavours sold across the country are being recalled due to possible Salmonella contamination , according to the Canadian Food Inspection Agency. However, consumers should discard any of these products they may have, the company said. Symptoms of an Salmonella infection include fever, diarrhea, nausea, vomiting and abdominal pain. [Full Article...]

Amazon Prime Day crash drives shoppers elsewhere

Amazon Prime Day crash drives shoppers elsewhere Most encouragingly, Prime Day also witnessed great traction for Amazon's own products ranging from Fire TV stick to Echo. 61% of Prime Day shoppers only considered Amazon for the items they purchased on Prime Day, and 46% did not compare Amazon prices with any other website or retailer. [Full Article...]

Over 50 products cheaper as GST Council slashes rates

Over 50 products cheaper as GST Council slashes rates A high GST rate on sanitary napkins had imposed a year ago had triggered howls of protest from consumer activist and women groups. However, they will need to deposit the tax every month. Some of the other items to be moved from the 28% tax slab to the 18% slab are lithium ion batteries, vacuum cleaners, food grinders, mixers, storage water heaters, hair dryers, hand dryers, paints, varnishes, wa... [Full Article...]

CVS apologizes to transgender woman for prescription denial

I was carrying my first prescriptions for hormone therapy. Hilde Hall said she filed an administrative complaint Thursday with the Arizona State Board of Pharmacy because she was discriminated against for being transgender, according to a statement from the American Civil Liberties Union ( ACLU ). [Full Article...]

Dollar recovers ¥113 for first time in six months

Dollar recovers ¥113 for first time in six months Powell also touched on the matter of trade disputes between the USA and its trading partners, saying it was "difficult to predict" the implications of those on the economy. The Fed is expected to hike rates two more times in 2018 to tackle rising inflationary pressures. Venezuela's central bank this year began refining gold in Turkey following a wave of global sanctions that have left it unwilli... [Full Article...]

Ferrari chief Sergio Marchionne replaced as result of illness

Ferrari chief Sergio Marchionne replaced as result of illness Sergio Marchionne , longtime CEO and chief for Fiat Chrysler Automobiles , stepped down Saturday due to serious complications after surgery, the company announced. As a effect, Mr. Marchionne will be unable to return to work. Marchionne, 66, had already announced he would step down in early 2019, so the board's decision, to be confirmed at an upcoming shareholders' meeting, will "accelerate" th... [Full Article...]

Employment regains its mojo with booming growth in June

Employment regains its mojo with booming growth in June In a report from the Business Insider Australia, Westpac economist Bill Evans said the Lending Index points suggests that growth will slow over the second half of the year, dropping to levels that will make it challenging to support wage growth and ease unemployment rate. [Full Article...]

Energy Fuels announces US Department of Commerce investigating effects of uranium imports

Energy Fuels announces US Department of Commerce investigating effects of uranium imports The investigation will canvass the entire uranium sector from the mining industry through enrichment, defense, and industrial consumption, according to the department. Nuclear power provides 20percent of the U.S.' electricity, a fraction that is set to wane in the coming years: Since 2013, six of the nation's nuclear reactors have shut down permanently and 11 others are scheduled to be retired by ... [Full Article...]

Trump Says He's 'Not Thrilled' About US Interest Rate Hikes

Trump Says He's 'Not Thrilled' About US Interest Rate Hikes For the second day in a row, President Trump on Friday ripped the Federal Reserve for hiking interest rates - continuing an aggressive assault on the central bank , which is normally off limits from presidential attacks. Beijing is targeting sectors, like agriculture, that could harm Trump politically at home, though he said in the CNBC interview that he is seeking to do only what is fair. [Full Article...]

Microsoft beats Wall St targets on cloud services revenue

Microsoft beats Wall St targets on cloud services revenue Revenue in a productivity and business processes category that included career-focused social network LinkedIn was up 13 percent in the quarter to $9.7 billion (roughly Rs. For the 12 months ending on June 30, Microsoft totalled revenues of $110.36 billion, which is a 14 percent jump over its total 2017 performance ($96.57 billion). [Full Article...]

Oil Rises as Saudi Forecast a Decline in Export in August

Oil Rises as Saudi Forecast a Decline in Export in August The consultancy said in its Macro Oils Long-Term Outlook H1 2018 report "As non-OPEC production growth slows and the importance of OPEC's output increases from 2023, OPEC's role in managing prices becomes more focused on ensuring upstream investment keeps up with replacing lost barrels from onstream declines, and the growth in oil demand over the next decade or so". [Full Article...]

Trump trespasses on Fed's independence by blasting Powell's rate hikes

Trump, in an interview with CNBC, said he does not approve, even though he said he "put a very good man in" at the Fed in Powell. The central bank is an independent agency and usually the commander in chief doesn't comment directly on Fed policy. [Full Article...]


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