Finance

Petrol price in Delhi crosses ₹ 80 mark, diesel at highest ever

According to sector experts, a weak rupee along with high excise duty have been major factors for the rise in fuel prices. The rupee closed higher by 26 paise at 71.73 against the USA dollar, snapping its seven-session losing streak. Delhi charges a Value-Added Tax of 27% on petrol and 17.24% on diesel. "If taxes are cut, prices will decline significantly". Opposition parties have announced... [Full Article...]

Ofgem sets proposals for new tariff price cap

Ofgem sets proposals for new tariff price cap How much you save will depend on the level of the default tariff you are on with your supplier and how much energy you use. And Ofgem claims those on the most expensive default standard variable tariffs will save more than £120 a year. She added: "To ensure that consumers save money, the only true tool that can really deliver on this is auto switching". The ceiling was sped through Parliament ... [Full Article...]

Cold call crackdown could see firms fined up to £500,000

Cold call crackdown could see firms fined up to £500,000 Minister for Digital Margot James said: "Today we are one step closer to ending the menace of nuisance calls". New measures taking effect from today mean that cold calls offering to settle personal injury claims will be banned if the recipient has not chosen to "opt-in" to receive them. [Full Article...]

VW's compliance undertaking accepted by competition regulator in Australia

VW's compliance undertaking accepted by competition regulator in Australia The ACCC has accepted a court-enforceable undertaking from Volkswagen Group Australia (Volkswagen) to improve compliance with its consumer guarantee obligations under the Australian Consumer Law ( ACL ). "Volkswagen is the only vehicle brand that publishes information on its website about the performance of each dealer based on the direct feedback of 80,000 customers annually". [Full Article...]

Domino's cautioned over underpaid wages

Domino's cautioned over underpaid wages The ombudsman says only four of 23 stores it has finished investigating were fully compliant with workplace law, with breaches including non-payment for hours worked, delivery allowance and leave entitlements, unauthorised deductions, and record-keeping breaches. [Full Article...]

Oath CEO Tim Armstrong in talks to leave Verizon

Oath CEO Tim Armstrong in talks to leave Verizon The head of Verizon's media and advertising business, Tim Armstrong, may soon exit the telecom giant, having failed over three years to grow the former AOL and Yahoo operations into meaningful revenue generators, according to a report Friday. [Full Article...]

Goldman Sachs CFO Calls Plans to Ditch Cryptocurrency "Fake News"

Goldman Sachs CFO Calls Plans to Ditch Cryptocurrency As reported by CNBC's Kate Rooney, Chavez apparently called the story " fake news ", though he did admit that there was now no timeline for enacting its plans . "Physical bitcoin is something tremendously interesting, and tremendously challenging", he said. Rather, it said that the bank was choosing to focus on other products, most notably a custody product , which would allow institutio... [Full Article...]

Ford F150 trucks recalled over seat-belt fire risk

Ford F150 trucks recalled over seat-belt fire risk That can ignite gases inside a support pillar between the front and rear seats, causing insulation and carpet to catch fire. 2015-18 Ford F-150 vehicles built at Dearborn Assembly Plant, March 12, 2014 through August 23, 2018. The company maintained its full-year adjusted earnings-per-share guidance of $1.30 to $1.50. In one recent complaint with NHTSA, according to The Associated Press , a... [Full Article...]

Starbucks opens its first store in Italy, the spiritual home of coffee

Starbucks opens its first store in Italy, the spiritual home of coffee The Starbucks Reserve Roastery in Milan will open its doors to all customers beginning September 7, at 9 a.m. CET. He called it a "dream come true" and a "fitting end" to his career with the company. "I also prefer it when I go overseas". "We have asked the antitrust (authority) to verify the correctness of Starbucks' commercial practice in its first Milanese store". [Full Article...]

China's trade surplus with U.S. hit new record in August

China's trade surplus with U.S. hit new record in August Altogether, the United States tariffs could ultimately hit more than USD 500 billion in Chinese goods. Trump has said the tariffs are necessary to punish Beijing for what he says are its unfair trade practices and intellectual property theft. [Full Article...]

Tesla shares sink after key executives exit

Tesla shares sink after key executives exit Among the other moves Musk announced , Kevin Kassekert, who had been vice president of infrastructure development after managing construction of Tesla's battery gigafactory, is becoming vice president of people and places, making him responsible for human resources, facilities, construction and infrastructure development. [Full Article...]

Burberry no longer to burn unsold goods, use real fur in collections

Burberry no longer to burn unsold goods, use real fur in collections Many retailers have been called out in recent years for destroying unsold stock, including by slashing or punching holes in garments before throwing them out. "VICTORY! Cartwheels are happening at PETA following the announcement that, after more than a decade of campaigns, @Burberry is banning fur and angora from its collections". [Full Article...]

Canadian tariffs hit imports of some USA goods in July

The value of exports dropped by 1 per cent, or $362 million, from June's record $36.4 billion effort. Exports to the United States rose 3.3 percent while imports dipped 0.1 percent. Rural exports were also softer, down 2 per cent, or $76 million, to $4 billion. The agency said that, on a seasonally adjusted basis, there was a 16.4 per cent increase in Canadian exports of steel subject to the U... [Full Article...]

Friends prank McDonalds with poster kept up for 51 days

Friends prank McDonalds with poster kept up for 51 days The fake ad remained at the restaurant unnoticed for 51 days, but when Maravilla tweeted about it on Sunday, the prank went viral, receiving over 175,000 retweets and 705,000 likes. As of Tuesday morning, Maravilla told USA TODAY the advertisement was still hanging in the restaurant. The best way to do this, they figured, was for Maravilla to disguise himself as a McDonald's employee. [Full Article...]

Donald Trump threatens tariffs on $267 billion more of China goods

Some Chinese exporters say US orders have declined, but Chinese leaders express confidence the economic impact will be modest. U.S. stocks plummeted following Trump's remarks, with the Dow Jones down 0.59 per cent and the S&P 500 down 0.34 per cent.. [Full Article...]

Campaign Obama Reemerges As Former President Delivers Fiery Rebuke Of Trump

Campaign Obama Reemerges As Former President Delivers Fiery Rebuke Of Trump Suddenly deficits do not matter", Obama said. During a speech at the University of IL at Urbana-Champaign on Friday, Obama said the country is in a "backlash" moment. Obama is expected to hit the campaign trail running for Democrats this fall, as Democrats look to take control of the House from Republicans hands. [Full Article...]

US adds a strong 201K jobs; unemployment stays at 3.9%

US adds a strong 201K jobs; unemployment stays at 3.9% Ahead of this morning's new jobs report, most projections said the USA economy added about 192,000 jobs last month. Nevertheless, the anticipated one-tenth of a percentage point drop in the unemployment rate from 3.9 percent in July should underscore tightening labor market conditions and cement expectations for a third interest rate increase from the Federal Reserve this year when policymaker... [Full Article...]

China to take necessary countermeasures depending on U.S. tariff action: MOC

China to take necessary countermeasures depending on U.S. tariff action: MOC The figures are likely to further incense US President Donald Trump , who's characterized the deficit as showing how past administrations' "unfair trade policies" have hurt the economy. The China tensions are poised to deepen, which could affect trade even more starting this month. The trade conflict between the USA and China has disrupted traditional trading patterns for soybeans, the second-b... [Full Article...]

Bernie Sanders Introduces Bill Targeting Jeff Bezos

Bernie Sanders Introduces Bill Targeting Jeff Bezos Bezos continues to pay thousands of his Amazon employees wages that are so low that they must rely on food stamps, Medicaid, or subsidized housing in order to survive", he said . "We have a situation where people are working hard and reading headlines that the company they are working for has a trillion-dollar marketshare", said Khanna. [Full Article...]

Petrol, diesel prices rise by about 50 paise. Check today’s rate

Petrol, diesel prices rise by about 50 paise. Check today’s rate In Kolkata, the price of petrol has been increased to ₹82.88 per litre while the diesel price has gone up to ₹74.92 per litre. In Mumbai, petrol was sold at Rs 86.91 at petrol pumps, while diesel costed vehicle owners Rs 75.96 per litre. [Full Article...]


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